ACCOUNT OPENING

Photo Identification Document

Issuing Authority

National ID Card (Preferable)

Office of the Election Commission (EC)

Current valid Passport

Department of Immigration & Passports

Birth Certificate

or

Birth Certificate issued by City Corporations, Municipal Corporation, Union Parishad and other Competent Authorities


Local Currency Accounts

Savings/Current/SND Account
  • Duly filled Account Opening Form (to be signed by the Applicant in front of Bank’s Official)
  • Two copies of recent Passport Size Photograph of the Account holder(s) attested by the introducer
  • Copy of the Photo Identification Document (original to be presented for verification)
  • Proof of Address document (original to be presented for verification): Electricity Bill / WASA Bill / Gas Bill / Telephone Bill / Current Rent or lease Agreement / Certificate of Employer / Holding Tax receipt from City Corporation or Municipality / TIN or BIN Certificate
Proprietorship Business Account
  • Duly filled Account Opening Form (to be signed by the Applicant in front of Bank’s Official)
  • Personal Information Form (PIF) duly filled in
  • Two copies of Passport size photograph of the Proprietor duly attested by the introducer
  • Copy of valid Trade License issued by the local Govt. Authority (City Corporation, Municipality, Union Parishad etc.)
  • Permission from Bangladesh Bank in case of Buying House, indenting or other specific business where Bangladesh Bank and other relevant authority’s permission is necessary
  • e-TIN certificate, if available
Partnership Business Account
  • Duly filled Account Opening Form (to be signed by the Applicant in front of Bank’s Official)
  • Personal Information Form (PIF) duly filled in with all required documents for all the Partners /Shareholders as Beneficial Owners
  • Two copies of Passport size photograph of each signatory/Partner duly attested by the Introducer
  • Certified copy of Partnership Deed/Agreement
  • List of the Partners with Addresses
  • Extract of resolution of the partners Meeting mentioning the opening of account with AB Bank and signatories thereof
  • Copy of valid Trade License
  • Proof of the trading address of the business or partnership
  • Copy of Financial Statements
Limited Company Account
  • Duly filled in Account Opening Form to be signed by the assigned signatories (to be signed by the Applicant in front of Bank’s Official)
  • RJSC Certified copy of the Memorandum and Article of Association of the Company
  • RJSC Certified copy of Certificate of Incorporation and/or Certificate of Commencement as applicable.
  • Extract of the Board resolution, with intention to open the Account relationship with AB Bank Limited and empowering individuals with specimen signatures those who will operate the account
  • List of the Directors (Form-XII) certified by RJSC
  • Certificate of Membership from trade body e.g. Chamber of Commerce and Industry
  • Two copies of Passport size photograph of each signatory/Director duly attested by the Chairman or Company Secretary
  • Personal Information Form (PIF) duly filled in with all required documents of at least 5 Directors /Shareholders holding maximum number of shares or in case of less than 5 numbers of Directors PIF of all Directors/Shareholders/Executive Committee members (if applicable) as Beneficial Owners
  • Account to be introduced as per Bangladesh Bank guidelines
  • Copy of valid Trade License
  • Copy of Export/ Import License where the company is engaged in international trade
  • Personal Net worth Statement of all Directors of the company
  • Updated e-TIN Certificate of the Company as well as of all Directors and operators of the account
  • Audited financial statements for last 3 (three) years and in case of a newly constituted company its projected financial statements
  • Copy of latest Annual Returns submitted to the RJSC by the company
  • Copy of Tenancy Agreement to be attested by the Chairman or Company Secretary where Registered Office of the company is housed at a rented building

Foreign Currency Accounts

Private Foreign Currency Accounts

  • Bangladeshi nationals working /residing abroad (including dual nationality)
  • Foreign nationals residing abroad or in Bangladesh
  • Foreign firms registered abroad and operating in Bangladesh or abroad
  • Foreign missions and their expatriate employees.
  • Diplomatic Warehouse (Duty free shops) licensed by the Custom Authority
  • Local and Joint Venture contracting firms employed to execute projects by foreign /International donor agencies as per terms of the contract.
  • Resident Bangladeshi nationals working with the foreign /international organizations operating in Bangladesh with entitlement to receive salary in FCY.
  • Shipping Lines, Buying Houses, Money Exchanges of Bangladesh
  • Eligible currencies: USD, GBP, Euro, JPY

  • Duly filled Account Opening Form (AOF)
  • Two copies of recent passport size Photograph of the Account Holder
  • One copy of recent passport size photograph of the nominee/guardian (in case of nominee being a minor) attested by the account-holder(s)
  • Work permit / employment certificate /approval for self-employment from the competent Authority for the Bangladeshi nationals.
  • Copy of Passport with visa details
  • Copy of approved contract between Foreign Donors /International Donor Agencies and Local /Joint Venture contracting firms.
  • Copy of Bond License issued by the Custom Authorities for Diplomatic Bonded Warehouse.

Bangladeshi nationals proceeding abroad for employment /immigration /self-employment may open this account without initial deposits. In case of eligible Bangladeshi nationals residing abroad, minimum deposit should be USD 1,000.00 or GBP 500.00 or equivalent.

Non–Resident Foreign Currency Deposit (NFCD) Account

  • Bangladeshi nationals working /residing abroad (including dual nationality)
  • Foreign nationals in Bangladesh or residing abroad
  • Foreign firms registered abroad, banks, other than financial institutions including institutional investors who are operating in Bangladesh or abroad and 100% foreign owned (A-Type) industrial units in the EPZ in Bangladesh.
  • Foreign missions and their expatriate employees.
  • Bangladesh nationals working with Embassies /High Commissions of Bangladesh in foreign countries.
  • Bangladeshi nationals working abroad under Government /semi Government Departments, Nationalized Banks and Corporate bodies.
  • Bangladeshi nationals working with international and regional agencies like IMF, IBRD, IDB, ADB, and WHO etc. during the period of their deputation abroad.
  • Resident Bangladeshi nationals working with the foreign /international organizations (e.g. International University of Technology (IUT)) operating in Bangladesh receiving salary in FCY.
  • Eligible currencies: USD, GBP, Euro, JPY

  • Duly filled Account Opening Form (AOF)
  • Two copies of recent passport size Photograph of the Account Holder
  • One copy of recent passport size photograph of the nominee/guardian (in case of nominee being a minor) attested by the account-holder(s)
  • Specimen signatures on the specimen signature card
  • Work permit /appointment letter /approval for self-employment from the competent Authority for the Bangladeshi nationals
  • Copy of Passport with visa details

In case of eligible Bangladeshi nationals, minimum deposit should be USD 1,000.00 or GBP 500.00 or equivalent. In case of foreign nationals or companies minimum deposit should be USD 25,000.00 or equivalent other currency.

Resident Foreign Currency Deposit (RFCD) Account

Customer resident in Bangladesh may open RFCD account with foreign exchange brought in at the time of their returns from travel abroad. Eligible currencies are USD, GBP, Euro, JPY.

  • Duly filled in Account Opening Form (AOF)
  • Two copies of recent passport size Photograph of the Account Holder
  • One copy of recent passport size photograph of the nominee/guardian (in case of nominee being a minor) attested by the account-holder(s)
  • Copy of passport including relevant pages evidencing departure and arrival.
  • A written declaration of the Account Holder stating:
  • The date of return from abroad
  • The amount of FCY brought in
  • The FCY is not a receipt against export of goods or services from Bangladesh.
  • The FCY is not a commission due from abroad arising from business deal in Bangladesh.
  • FMJ Form for amount in excess of the threshold set by Bangladesh Bank in which case the FCY must be deposited within 30 days of arrival.

Foreign currency deposited in this account is convertible into Taka. Cash withdrawal from RFCD account in Bangladesh shall be made only in Taka.

Convertible Taka Account

  • Foreign Nationals, Organizations, Diplomatic missions, UN organizations, Non-profit international bodies
  • Foreign contractors and consultants engaged for specific project under the Government or semi Government agencies
  • Expatriate employees of the above noted missions/ organizations residing in Bangladesh.
  • Foreign airlines and shipping lines operating in Bangladesh.
Non–Convertible Taka A/C

  • Foreign Nationals, Foreign organizations, UN organizations
  • Diplomatic missions
  • Non-profit international bodies.
  • Foreign contractors and consultants engaged for specific project under the Govt. or semi Govt agencies
  • Expatriate employees of the above noted missions/ organizations residing in Bangladesh.
  • Foreign airlines and shipping lines operating in Bangladesh.

Note:

  • The proceeds of the Non-convertible Taka account may be utilized to meet the local expenses in Taka only.
  • Conversion of any amount from this account in to FC is not allowed
  • Transfer of any amount into any convertible A/C is also not allowed
Resident Investor's Taka Account (NITA)

All of the below mentioned individuals /concerns may open a Non-Resident Investor’s Taka Account (NITA) to buy Bangladeshi shares & securities etc.

  • Bangladeshi nationals residing abroad (including dual nationality)
  • Foreign nationals residing abroad or in Bangladesh
  • Foreign firms registered abroad and operating in Bangladesh or abroad

  • Duly filled Account Opening Form (AOF)
  • Two copy of recent passport size Photographs of each signatories
  • Work permit/ appointment letter for the Bangladeshi nationals residing abroad and Foreign nationals residing in Bangladesh
  • Permission from Board Of Investment (BOI) for Foreign Firms
  • Copy of Passport with visa details

  • NITA may be operated by a nominated person.
  • All transactions in NITA for buying and selling shares, securities etc. shall be done through a member/ registered broker of Stock Exchange.
Non-Resident Taka Account (NRTA)

  • Companies or firms residing outside Bangladesh.
  • Bangladeshi nationals residing outside Bangladesh for the purpose of employment, study, business tour, pleasure trip etc.

  • Prior approval of Bangladesh Bank shall be required for opening a non-resident Taka account
  • AD Branch shall forward the application to Bangladesh Bank for approval mentioning the following particulars:
  • Application with full details of the applicant
  • The reason why the account is required
  • The manner in which funds will be maintained

  • Persons residing outside Bangladesh for the time being on duty or on leave cannot instruct persons in Bangladesh to make any payment on their behalf to persons in Bangladesh.
  • During the period of temporary visit of non- resident persons in Bangladesh, their account will be treated as “Resident Taka Account” and after leaving the country that account will be treated again as a “Non- Resident Taka Account”.
  • Joint account operated by the Non-resident shall be treated as non–resident account also.
Foreign National's Taka Account

  • Foreign nationals residing in Bangladesh
  • Companies or firms (other than bank) whose head office or controlling office is outside Bangladesh but have operation in Bangladesh.
  • Prior approval of Bangladesh Bank is not required for opening the account.

  • Duly filled Account Opening Form (AOF)
  • Two copies of recent passport size Photograph of each signatories
  • Approval from relevant regulatory authorities.
  • Constitutional documents for Companies or firms
  • Copy of Passport, valid visa, work permit for individuals.
  • Form QA-22 (as per Bangladesh Bank format) to be obtained in duplicate
Temporary Non-Resident Taka Account (TNRTA)

The proposed company /enterprise of foreign investors contemplating to invest in Bangladesh

  • Duly filled Account Opening Form (AOF)
  • Other Documents:
  • – In case of Individual Investors
  • Name Clearance from RJSC of the proposed company, in case of formation of a new company;
  • Personal Information of the proposed Foreign Investors/shareholders/partners/entrepreneur;
  • Agreement /MOU from all the proposed Investors /shareholders /partners regarding opening of NRTA mentioning purpose of
    account opening & operational instruction of the Account to be opened;
  • Copy of valid Passport with photographs of the Investors;
  • – In case of corporate Investors
  • Name Clearance from RJSC for proposed company;
  • Personal Information of all the Directors of company;
  • BOI registration, if any;
  • Memorandum & Articles of Association of the foreign company;
  • Registration from competent authority of the foreign company;
  • Trade License of the of foreign company, if any;
  • TIN of the foreign company, if any;
  • Financials of the foreign company (at least last 3 years);
  • Resolution from the Board of Directors of the foreign company regarding opening of NRTA mentioning purpose of
    account opening &mmp; operational instruction of the Account to be opened;
  • Copy of valid Passport with photographs of all the Directors /Operators of the Account;

To meet initial local expenses prior to obtaining required regulatory permissions

  • Temporary NRTA accounts may be credited with inward remittances received from abroad only.
  • Upon registration /commencement of the business, a new account in the name of the company may be opened following usual procedure.
  • Account opened previously should be closed immediately and balances lying therein shall be transferred to the new account.

If, for any reason, the proposed investment/incorporation does not take place, the balance of the account, after meeting the required expenses, may be allowed to be repatriated without prior approval from Bangladesh Bank.

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