• Bangladesh nationals residing abroad, foreign nationals residing abroad or in Bangladesh, foreign firms registered abroad and operating in Bangladesh or abroad, and foreign missions and their expatriate employees in Bangladesh can open Foreign Currency (FC) accounts.

• Foreign exchange earned through business done or services rendered in Bangladesh can not put into this account. 

• Credits to a foreign currency account may be made against inward remittances of foreign exchange in any form or by transfer from another FC account.

• Local as well as foreign payments may be made freely from foreign currency accounts.

• No payment in foreign exchange can be made to or on behalf of any resident in Bangladesh. Payments from these accounts received by residents, unless generally or specifically authorized by Bangladesh, must be converted into Taka.

• Banks may pay interest on such accounts at rates determined from time to time.

• Bangladesh nationals working abroad or proceeding abroad to take up employment may open foreign currency accounts.

• No initial deposit is required to open this account.

• Account holder may operate the account himself or nominate other persons in Bangladesh for this purpose.

• The account may be opened in pound sterling, US dollar, Euro or Japanese yen.

• The account may be maintained as long as the account holder desires.

• These accounts should ordinarily be fed by remittances by account holder himself but funds sent by other wage earners may also be placed to the credit of such accounts.

• Sale proceeds of currency notes, traveller’s cheques, drafts etc. brought into Bangladesh by the account holder while on temporary visit to Bangladesh provided foreign exchange in excess of US$ 5000 (or its equivalent) is duly declared to the Customs on Form FMJ at the time of their arrival.

• Funds lying to the credit of FC accounts of Bangladesh nationals can be utilized for import of goods and commodities as per Import Policy announced by the Government from time to time.

Foreign Currency Account in the names of the Diplomatic Bonded Warehouse (duty free shops) licensed by the custom authorities may be opened on the following conditions:

• Foreign exchange received only on account of sale of merchandise may be credited to this Account.

• Foreign exchange may be sent abroad only for the purpose of import of merchandise by the bonded warehouse.

• For the same purpose foreign exchange may also be transferred from these account to foreign currency account maintained with other banks.

• Foreign exchange from these accounts may be freely converted into Taka at current exchange rates.

• Local and joint venture contracting firms employed by foreign donors/international donor agencies to execute projects in Bangladesh may open foreign currency accounts as per terms of the approved contracts.

• Only foreign exchange received from the donors/donor agencies to meet expenses of the project can be credited to these accounts.

• All expenses in foreign exchange as per relevant contract may be met from these accounts.

• Foreign currency accounts may be opened in the names of resident Bangladesh nationals working in foreign/ international organizations operating in Bangladesh provided their salary is paid in foreign currency.

• Such accounts may be credited only with the foreign currency portion of the salary and debited for all approved current transactions like cost of travel, education for children, medical treatment etc.

• Foreign currency accounts may also be credited with consultancy fees/honoraria received in foreign currency by the above mentioned category of residents, debits to such accounts being subject to same conditions as mentioned above.