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Resident Foreign Currency Deposit Account

  • Persons ordinarily resident in Bangladesh may open and maintain Resident Foreign Currency Deposit (RFCD) accounts with foreign exchange brought in at the time of their return from travel abroad. 

  • Any amount brought in with declaration to Customs Authorities in form FMJ and up to US$ 5000 brought in without any declaration can be credited to such accounts.

  • Proceeds of export of goods or services from Bangladesh or commission arising from business deals in Bangladesh shall not be credited to such accounts.

  • Balances in these accounts shall be freely transferable abroad. 

  • Fund from these accounts may also be issued to account-holders for the purpose of their foreign travels in the usual manner (i.e. with endorsement in passport and ticket, upto US $ 1500 in the from of cash currency notes and the remainder in the form of TC)..
  • These accounts may be opened in US Dollar, pound sterling, Euro or Japanese yen and may be maintained as long as the account holders desire.
  • Interest in foreign exchange shall be payable on balances in such accounts if the deposits are for a term of not less than one month and the balance is not less than US$ 1000 or £ 500 or its equivalent.
  • The rate of interest shall be one quarter percent (0.25%) less than the rate at which interest is paid on balances of bank in their foreign currency clearing accounts maintained with Bangladesh Bank.
 

 
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