Bangladeshis (NRBs), allowing them to open Non-Resident Convertible Taka Accounts (NRCTAs) through Offshore Banking Units (OBUs) of local banks. The initiative aims to encourage expatriates to remit foreign currency, invest in Bangladesh, and contribute more actively to the country's economy.
NRBs can open savings, current, or fixed-deposit NRCTAs, funded through foreign currency remittances converted into Bangladeshi taka. Deposits may also come from personal foreign currency accounts, other NRCTAs, investment returns, and approved refunds. A major benefit of the account is that both the deposited funds and any earned interest or profit can be freely repatriated abroad.
The funds can be used for lawful domestic expenses, transfers to eligible accounts, foreign direct investment (FDI), and portfolio investments. Offshore Banking Units may also utilize these deposits to provide taka-denominated loans to industries operating in specialized economic zones for approved operational expenses.
Additionally, domestic banking units can offer loans against NRCTA deposits to NRBs or their nominated third parties, subject to regulatory restrictions. Bangladesh Bank has instructed banks to introduce online and electronic banking services to facilitate account opening and management, making the new facility more accessible to expatriate Bangladeshis worldwide.