Non-Resident Bangladeshis (NRBs) can now deposit foreign currencies brought in by themselves in their respective foreign currency accounts, subject to the declaration on Form of Money and Jewelry (FMJ) in case of the amount exceeding USD 5,000 or equivalent, reports BSS.
"Bangladesh Bank (BB) has decided that bank booths operating in airports under licenses with limited scope from BB may take deposits from NRBs in foreign currency brought in by them for crediting their foreign currency accounts or ‘Nonresident Taka’ accounts (by converting foreign currency at prevailing exchange rates)," according to a circular issued by BB yesterday.
To bring ease in the deposit process, the bank booths will be maintained with concerned Authorised Dealer (AD) bank branches, the circular added.
If the foreign currency brought in by NRBs differs from account type of the account holders, bank booths shall convert the currency into relevant foreign currency at appropriate cross currency exchange rate to affect the deposit, according to the circular.