Non Resident Foreign Currency Deposit Account (NFCD Account)


Eligibility/Target Segment

  • Non Resident Bangladeshi Nationals/NRBs/Dual Citizens with Bangladeshi origin.

  • Any Bangladeshi Nationals serving with Embassies/High Commissions of Bangladesh in foreign countries/Officers and staffs of the government/semi government departments/nationalized banks and employees of body corporate posted abroad ore deputed with international and regional agencies like IMF, World Bank, IDB, ADB etc. During their assignments can also open this account.

  • The Shore Staffs in Bangladeshi Shipping companies who are posted abroad*

*The crew members of Bangladeshi shipping companies are not eligible to open this account

Features

    This is an interest bearing term deposit account.

    Can be opened for the tenures of one /three/six and twelve months.

    This account can be maintained in Pound, US Dollar, Pound, Euro or Japanese Yen.

    Minimum Balance is USD 1000 or GBP 500 or equivalent in other currencies.

    The balance and the accrued interest of this account can be freely transferable abroad without any prior permission from Bangladesh Bank.

    The interest accrued on this account is fully exempted from Tax.

    Cheque book facility is available with this account.

Permissible Credits

  • Foreign Currency brought in at the time of their return from travel abroad. However, if it exceeds US 5000 (or its equivalent) then should be declared to the customs on "FMJ form" at the time of arrival.
  • Inward remittance.
  • Transfer from any other Foreign Currency Accounts.
  • Can be also credited from the convertible foreign exchange i.e. currency notes, travelers cheques, drafts etc. brought into Bangladesh while their temporary visit. However, if it exceeds US 5000 (or its equivalent) then should be declared to the customs on "FMJ form" at the time of arrival.

Permissible Debits

  • Local withdrawals can be made in taka only.
  • Freely transferable/repatriable with the accrued interest to the own account/any beneficiary Accounts maintained abroad.

Required Documents

  • Two Copies of passport sized recent photographs of the Applicant.
  • Photocopy of first six pages of your Bangladeshi passport. In case of foreign passport, include photocopy of the page that says ‘no visa required to travel to Bangladesh’
  • Copy of Valid Visa/Work Permit/ Resident Card.
  • Proof of income i.e. Salary / Pay Slip, Job Contract letter /overseas bank statement not old than three months from the account opening date or any other document that proofs applicant legitimate income source.

    Note: At least one of the following documents as proof of overseas address (photocopy):

  • Work ID.
  • Resident Permit.
  • Utility Bill.
  • Pay Slip.
  • Driving License.
  • Government issued ID card.
  • Credit Card Bills.
  • Rent Receipts.
  • Over seas Bank Statement.
  • One copy of passport sized photograph of the Nominee attested by the Applicant.
  • Duly Filled in Account opening Form.

Steps: NFCD Account

  • Step 1: Download the Non Resident Foreign Currency Deposit Account (NFCD Account)FORM from the website: www.midlandbankbd.net
  • Step 2: Please fill up the required information and put your sign on it.
  • Step 3: Attach the required documents.
  • Step 4: Please Send the Account opening Form and required documents through international postal mail to the following address:


  • Midland Bank NRB Banking Services
    Head Office Annex
    Zahed Plaza (Level 10)
    30 Gulshan Avenue
    Gulshan 2, Dhaka 1212
    Bangladesh



    For any clarifications, please e-mail at nrb.banking@midlandbankbd.net

NFCD Account Download Forms

Download

 

For details, please feel free to contact any of our MDB NRB Service, Head Office

Media Room

Midland Bank NRB Banking Services
Head Office Annex
Zahed Plaza (Level 10)
30 Gulshan Avenue
Gulshan 2, Dhaka 1212
Bangladesh

PBX: (+88) 096 66 410 999 Ext.999-216

nrb.banking@midlandbankbd.net