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The Financial Express

BB asks banks to open deposit accounts for NRBs

| Updated: August 11, 2020 09:30:47


Lankabangla and Fianancial Express Lankabangla and Fianancial Express
BB asks banks to open deposit accounts for NRBs

The central bank has asked scheduled banks to introduce deposit accounts for non-resident Bangladeshis (NRBs) to encourage these people, who are working aboard, in saving their hard-earned money in Bangladesh.

Under the new policy, the accounts will be in the form of savings nature for a period of one year and above with monthly or quarterly deposit options, according to a notification, issued by the Bangladesh Bank (BB), on Sunday.

Besides, the deposit accounts will be credited in the local currency –Bangladesh Taka (BDT) – after conversion of foreign currency properly, it added.

 “The policy will help NRBs to create their financial safety net in Bangladesh,” a BB senior official told the FE while explaining the main objective of the policy.

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