• Q.1. What is Offshore Banking Account?
• Answer: An Offshore Banking Account is an account that residents of Bangladesh can open outside the country in foreign currency. For instance, Non-resident Bangladeshi nationals (NRBs), people of Bangladeshi origin with foreign citizenship, foreign nationals, companies and firms registered and operating abroad, and foreign institutional investors can open this type of account.
• Q.2. Who can open OBU Account?
• Answer: Residents outside Bangladesh, including NRBs
• Foreign nationals
• People of Bangladeshi origin with foreign citizenship
• Companies and firms registered and operating abroad
• Foreign institutional investors
• Type A units in Bangladesh's Export Processing Zones, Private EPZs, Economic Zones, and Hi-tech parks
• Note: All individuals will have to be of age 18 & above.
• 3.Is a nominee required for an OBU account?
• Yes, a nominee is necessary for individual OBU accounts (both current and Fixed Deposit).
• 4. Can customers open a joint OBU account?
• Yes, customers can open a joint OBU account. However, both account holders must individually meet the eligibility criteria outlined in Q. 2.
• 5. Documents required to open OBU account
• Answer: Document check list for Individuals
•    A valid photo ID (e.g., passport, foreign ID)
•    If the ID is a Bangladeshi passport, additional documents like a resident visa, foreign resident card, work permit, or foreign driving license are required
•    Passport-sized photos: 2 copies for the applicant and 1 attested copy for the nominee
•    Address verification if the declared address is different from the address on the ID (e.g., utility bill, foreign driving license)
•   Document check list for OBU account for companies/firms registered and operating abroad.
•    Trade License or similar document
•    Certificate of Incorporation
•    Updated Schedule X & Form XII or equivalent document showing shareholding information and Board of Directors
•    Extract of Resolution/Board Resolution
•    Memorandum and Articles of Association
•   Photo identification of shareholders
•    Photo ID of shareholders (top 5 shareholders if more than 5; all shareholders if less than 5)
•    2 copy passport size photo of each shareholder
•    Passport-sized photos: 2 copies for each shareholder
• 6. Can a customer open an OBU account at any branch
• Answer: Yes, customers can open an OBU account at any NRBC Bank branch during their visit to Bangladesh.
• 7. Can an existing NRBC Bank customer open an OBU account?
• Answer: Yes, any existing NRBC Bank customer can open an OBU account if they meet the eligibility criteria mentioned in Q. 2.
• Q. 8: Can a customer open an OBU account with an Islamic banking in NRBC Bank PLC?
• Answer: Yes, a customer can open an OBU account from both the Conventional Branch and the Islamic Window of NRBC Bank PLC.
• Q. 9: Can a customer open a Fixed Deposit account without a current account?
• Answer: No, to open a Fixed Deposit account, the customer must first open a current account as per Bangladesh Bank Guidelines.
• Q. 10: Is there a physical OBU account opening form?
• Answer: For individual accounts, no physical form is required as customers can open accounts online through the customer service portal. If present at a branch, they can use the regular account opening form. Institutional accounts require downloading the form from the provided link.
• Q. 11: In which currencies can a customer open an OBU account?
• Answer: Currently, NRBC Bank allows customers to open OBU accounts in USD only.
• Q. 12: Is there a minimum deposit required to open the account?
• Answer: No minimum balance is needed for a current account. However, a Fixed Deposit account requires a minimum deposit of USD 1,000.
• Q. 13: What are the available tenors for a Fixed Deposit account?
• Answer: The available tenors are 3 months, 6 months, 1 year, 2 years, 3 years, 4 years, and 5 years.
• Q. 14: How can customers use the balance of the current account?
• The balance can be used for:
• Answer: Transferring to on-shore BDT accounts for necessary payments and investments.
• Answer: Making outward remittances as needed.
• Q. 15: Is there a maximum deposit limit for an OBU account?
• Answer: No, there is no maximum deposit limit for an OBU account.
• Q. 16: Can a customer get a credit or debit card for the OBU account?
• Answer: No, since the OBU account is for Fixed Deposits only, the bank will not issue a debit or credit card for this account. But the customer can avail both debit and credit card facilities for maintaining regular account in NRBC Bank PLC.
• Q. 17: Can a customer open multiple currency OBU accounts?
• Currently, a customer can open OBU accounts only in USD
• Q. 18: Can a customer open OBU accounts at different banks?
• Answer: Yes, a customer can open multiple OBU accounts at any banks they choose.
• Q. 19: What type of account can a customer open?
• Answer: A customer can open a Fixed Deposit account in foreign currency (USD). To deposit funds into the Fixed Deposit account, the customer first needs to open a current account, which will facilitate fund transfers, remittances, and other operations. Therefore, customers must have both Current and Fixed Deposit accounts in OBU.
• Q. 20: Can a customer add multiple nominees to the OBU account?
• Answer: Yes, a customer can add multiple nominees to the account. For each nominee, photo identification and a passport-sized photo are required.

• Q 1: How can the account holder credit funds in his account?
• Answer : Funds can be added to the account through foreign inward remittances received via official banking channels only.
• Q 2: Who can send funds to the OBU account?
• Answer : Anyone from any country can send funds to the OBU account. There are no restrictions on who can send money. However, the Fixed Deposit account will be in the name of the current account holder (Beneficiary). For example, if Mr. Mamun holds the current account, both Mr. Shahid and Mr. Sifat can send funds to his account, but the Fixed Deposit will still be in Mr. Mamun's name.
• Q 3: How can the balance be transferred from a foreign currency OBU account to a local currency (BDT) account?
• Answer : OBU customers can transfer funds to a local currency account by submitting a remittance request form to the bank.
• Q 4: What is the process for encashing a Fixed Deposit?
• Answer : To encash a Fixed Deposit, download the Fixed Deposit Encashment form, complete it, and email the signed form to nrbc.obu@nrbcommercialbank.com from your registered email address. If you provided encashment instructions when opening the Fixed Deposit, the deposit will be encashed according to those instructions.
• Q 5: Is there a cheque book facility for the OBU account?
• Answer : No, there is no cheque book facility for OBU Account. Account operations are done by sending remittance or transfer instructions to the bank. Cheque book facilities are available for regular account holder of NRBC Bank PLC.
• Q 6: Can cash be deposited into the OBU account?
• Answer : No, cash deposits are not allowed. Funds can only be credited via inward remittances received through official channels.
• Q 7: Can cash be withdrawn from the OBU account?
• Answer : No, cash withdrawals are not directly possible from the OBU account.
• Q 8: Can OBU customers use the NRBC Planet internet banking app?
• Answer : Yes, individual OBU account holders can use NRBC Planet for viewing purposes only. Transactions cannot be done through the app, but it can be used to send instructions to the bank.
• Q 9: Is there a limit on the number of transactions in an OBU account?
• Answer: The number of transactions should be as per Transaction Profile (TP) signed by the account holder.

• 1. Is there any fees and charges for maintaining OBU account?
• There are no fees and charges for maintaining OBU account and there is no hidden fee also. . Details of the fees and charges are given below:

• Q 1. Is OBU account an interest bearing account?
• Answer : Yes, the bank is offering attractive interest rates on Fixed Deposit accounts. However, Current account is a non-interest bearing account. Please click here to know the current offers of Fixed Deposit accounts.
• Q 2. Is interest rate fixed in OBU Fixed deposit account?
• Answer : The interest rate is based on the benchmark rate of the respective currencies which may change on daily basis. Based on the benchmark rate of the respective currencies, the interest rate may vary.
• Answer : For the Fixed Deposit, the interest rate on the date of booking will be applicable till the maturity of the deposit. Our prevailing deposit interest rates are available in our website.
• Q 3. What is a “Benchmark Rate”?
• Answer : Benchmark or reference rate is a rate that reflects the cost of borrowing in a particular currency based on international demand and supply.
• Q 4. What are the benchmark rates of the respective currencies?

• Q 5. How can I find out the interest rate for fixed deposits?
• Answer : To know the interest rates of different tenors that are applicable today, please click here.

Note: Benchmark reference rate means SOFR i.e. Secured Overnight Financing Rate which is available in NRBC web page.

• Q 1. What information is required to send remittances to any NRBC Bank account from abroad?
• Answer : To send remittances, please use below information for beneficiary-
• SWIFT Code of NRBC Bank : NRBBBDDH
• Bank Name : NRBC Bank PLC
• Customer’s IB Account Number : ……………….
• Account Name : ……………………
• Q 2. What will be the conversion rate if a customer wants to convert the foreign currency balance to BDT to an on-shore bank account?
• Answer : The bank will use the prevailing TT clean Buying rate of the bank on the date of the conversion.
• Q 3. Through which Banks can remittances be sent to NRBC Bank PLC?
• Answer : Details of the banks with which NRBC Bank has Nostro-account relationship can be found here
• Q 4. Is the balance in OBU account freely transferable abroad?
• Answer : Yes, the entire balance of OBU account is freely transferable abroad.
• Q 5. If I have OBU account in one currency, can I send outward remittance in other currency?
• Answer : Yes, you can. In such cases the cross currency conversion will take place.
• Q 6. Can customers transfer the balance of OBU account to another of his OBU account?
• Answer : Yes, the customer can transfer the balance of OBU account to another OBU account.
• Q 7. Is remittance incentive paid by the government applicable for OBU deposits?
• Answer : No, remittance incentive is not applicable to OBU deposits or encashment.
• Q 8. What is the SWIFT code of NRBC Bank PLC?
• Answer : Our SWIFT Code is NRBBBDDH. It is also known as BIC (Bank Identification Code).

• Q 1. Is there any tax or any duty applicable on the deposit or interest?
• Answer : As per new Offshore Banking Act passed by National Parliament of Bangladesh on 14 March 2024, depositors are exempted from any tax on the balance of OBU account and on any interest paid. Also no excise duty is applicable on the balance of the account

• Q 1.How is NRBC Bank offering such high-interest rates on OBU account deposits
• Answer :Offshore banking basically is dependent on foreign borrowings @ 2%-3% margin on SOFR/benchmark rates. NRBC Bank aims to expand its long-term customer deposit base by providing competitive deposit rates aligned with regulatory guidelines. Therefore, NRBC Bank is offering these competitive rates instead of borrowing from abroad and it will save cost to the bank as well as reduce market dependency
• Q 2. Is there any possibility to obtain Commercially Important Person (CIP) status from government of Bangladesh by maintaining funds in an OBU account?
• Answer :Since this is an investment in an OBU account, this is out of the scope of non-resident remittance category which is considered for CIP status by the government.

• Q 1. What is IB Account?
• Answer : An International Banking (IB) account can be opened by a resident Bangladeshi individual or a Corporate/Firm in foreign currency in the Offshore Banking Unit (OBU) on behalf of someone living abroad (a non-resident). In this case, the account holder acts as a facilitator for the non-resident remitter. Both the IB account holder and the remitter must have a genuine relationship
• Q 2. Who can open IB Account?
• Answer :   Any resident Bangladeshi individual (18 years and older)
•   Bangladeshi Corporates/Firms
•   Type A, Type B, and Type C industrial enterprises operating in EPZs (Export Processing Zones), EZs (Economic Zones), and HTPs (High Tech Parks)
• 3.Can a customer open an IB account under the Islamic banking option?
• Yes, a customer can open an IB account from both the Conventional Branch and the Islamic Banking Window of NRBC Bank PLC.
• Q 4. What is the role of an IB Account holder?
• Answer : The IB Account holder acts as a facilitator for the non-resident remitter, using the funds as needed. The facilitator operates the account as the sole account holder.
• Q 5. What is the role of an IB Account holder?
• Answer : The IB Account holder acts as a facilitator for the non-resident remitter, using the funds as needed. The facilitator operates the account as the sole account holder.
• Q 6. Can a customer visit any NRBC Bank branch/ Sub-Branch to open an IB account?
• Answer : Yes, customers can open an IB account at any NRBC Bank branch or sub-branch by visiting with the necessary documents. However, agent points do not offer this facility at the moment.
• Q 7. Can an existing NRBC Bank customer open an IB account?
• Answer : Yes, any existing NRBC Bank customer can open an IB account if they qualify as per questions 2.
• Q 8. Can a foreign national open an IB account
• Answer : No, foreign nationals do not need to open an IB account as they can directly open an OBU account.
• Q 9. What types of accounts are available for a customer?
• Answer : A customer can open a Fixed Deposit account in foreign currency (USD) under this program. To credit funds for the Fixed Deposit account, a current account must be opened first. The current account facilitates fund transfers, remittances, and other operations. Therefore, customers need both Current and Fixed Deposit accounts in OBU.
• Q 10. What are the available tenors for a Fixed Deposit account?
• Answer :The available tenors are 3 months, 6 months, 1 year, 2 years, 3 years, 4 years, and 5 years.
• Q 11. How can the balance in the account be used?
• Answer : The balance can be used for:
•    Transferring to on-shore BDT accounts for necessary payments and investments
•    Making outward remittances as needed to the person who remitted the funds (Remitter)
• Q 12. What are the currency options for customers of IB accounts?
• Answer : Currently, NRBC Bank offers IB accounts in USD only.
• Q 13. Is it mandatory to open a current account to open a Fixed Deposit account?
• Answer : Yes, opening a current account is required to open a Fixed Deposit account, as per Bangladesh Bank guidelines.
• Q 14. Is a nominee required for an IB account?
• Answer : Yes, a nominee is required for individual IB accounts (both current and fixed deposit).
• Q 15. Can a customer add multiple nominees to the IB account?
• Answer : Yes, customers can add multiple nominees. Each nominee requires a photo ID and a passport-sized photo.
• Q 16. Is a passport mandatory to open an IB account?
• Answer : No, a passport is not mandatory. Other photo IDs, such as a National ID or Birth Certificate, can be used.
• Q 17. Is there a minimum deposit required to open the account?
• Answer : No minimum balance is required for a current account. However, a Fixed Deposit account requires a minimum deposit of USD 1,000.
• Q 18. Is there a maximum deposit limit for an IB account?
• Answer : No, there is no maximum deposit limit for an IB account.
• 19. Can customers get a credit or debit card for an IB account?
• No, since the IB account is for Fixed Deposits only, the bank will not issue a debit or credit card for this account.
• Q 20. Can a customer open IB accounts at different banks?
• Answer : Yes, a customer can open multiple IB accounts at any banks they choose.
• Q 21. Can a customer open multiple currency IB accounts for the same remitter?
• Answer : Yes, a customer can open IB accounts in USD for the same remitter as needed.
• Q 22: Can an IB account have multiple remitters?
• Answer : No, the remittance must come from the declared remitter only. However, the IB account holder can open multiple accounts for different remitters.
• Q 23: Can a facilitator open multiple IB accounts?
• Answer : Yes, a facilitator can open multiple IB accounts if the remitter is different.
• Q 24: Is it mandatory to provide proof of a genuine relationship with the remitter?
• Answer: Only a declaration by the resident facilitator regarding relationship with the remitter will comply the requirement.
• Q 25: Can a customer open a joint IB account?
• Answer : No, customers cannot open a joint IB account

• Q 1: How can an account holder credit funds to their account?
• Answer :Funds can be credited through foreign inward remittances received from the remitter via official banking channels only.
• Q 2: Is there a cheque book facility available for IB accounts?
• Answer :No, there is no cheque book facility available. The account can be managed by sending remittance or transfer instructions to the bank.
• Q 3: Can dollars be deposited in cash form?
• Answer : No, cash deposits are not allowed in IB accounts. Funds can only be credited through inward remittances received via official channels.
• Q 4: Is it possible to withdraw cash from an IB account?
• Answer : No, cash withdrawals are not allowed from IB accounts.
• Q 5: Can a customer transfer the balance of their IB account to another IB account?
• Answer : Customers can only transfer funds to another IB account in a different currency for the same remitter. Transfers to IB accounts linked to different remitters are not allowed.
• Q 6: Can foreign currency from an IB account be endorsed in a passport while traveling?
• Answer : No, foreign currency endorsement in a passport, while traveling is not allowed against the balance in an IB account.
• Q 7: Can IB customers use NRBC Planet, the bank's internet banking app?
• Answer : Yes, individual account holders can use NRBC Planet for viewing purposes only. No transactions can be conducted through NRBC Planet, but instructions can be sent to the bank.
• Q 8: Is there a limit on the number of transactions in a single IB account?
• Answer: The number of transactions should be as per Transaction Profile (TP) signed by the account holder.
• Q 9: How can an IB customer transfer the balance from a foreign currency IB account to a local currency account?
• Answer : IB customers can transfer funds from a foreign currency IB account to a local currency account by submitting a remittance request form to the bank.
• Q 10: What is the process for Fixed Deposit encashment?
• Answer : To encash a Fixed Deposit, visit your nearest NRBC Bank branch or sub-branch and complete the Fixed Deposit encashment request form. If instructions for encashment were provided when opening the Fixed Deposit, the deposit will be encashed according to those instructions.

• 1. Is there any fees and charges for maintaining IB account?
• There are no fees and charges for maintaining OBU account and there is no hidden fee also. Details of the fees and charges are given below:

• Q 1. Is IB account an interest bearing account?
• Answer : Yes. The bank is offering attractive interest rates on Fixed Deposit accounts. However, Current account is a non-interest bearing account. Please click here to know the current offers of Fixed Deposit accounts.
• Q 2. Is interest rate fixed in IB Fixed deposit account?
• Answer :
•    The interest rate is based on the benchmark rate of the respective currencies which may change on daily basis. Based on the benchmark rate of the respective currencies, the interest rate may vary.
•    For the Fixed Deposit, the interest rate on the date of booking will be applicable till the maturity of the deposit. Our prevailing deposit interest rates are available in our website
• Q 3. What is a “Benchmark Rate”?
• Answer : Benchmark or reference rate is a rate that reflects the cost of borrowing in a particular currency based on international demand and supply.
• Q 4. What are the benchmark rates of the respective currencies?

• Q 5. How can I find out the interest rate for fixed deposits?
• Answer : To know the interest rates of different tenors that are applicable today, please click here .

Note: Benchmark reference rate means SOFR i.e. Secured Overnight Financing Rate which is available in NRBC web page.

• Q 1. What information is required to send remittances to any NRBC Bank account from abroad?
• To send remittances, please use below information for beneficiary-
• SWIFT Code of NRBC Bank : NRBBBDDH
• Bank Name : NRBC Bank PLC
• Customer’s IB Account Number : ……………….
• Account Name : ……………………
• Q 2. Through which banks can remittances be sent to NRBC Bank PLC?
• Answer : Details of the banks with which NRBC Bank has Nostro-account relationship can be found here
• When you are sending the remittance, if your bank from where you are sending the fund requests for bank account information of NRBC Bank i.e., the correspondent foreign banks (intermediary bank) of NRBC Bank, you can share the bank details from this link for convenience: here
• Q 3. Is the balance in IB account freely transferable abroad?
• Answer :Yes. Both the interest and principal can be freely transferable abroad. However, the funds can only be sent to the remitter of funds on whose behalf the account is opened. The remittance form can be found here.
• Q 4. What will be the conversion rate if a customer wants to convert the foreign currency balance to BDT to an on-shore bank account?
• Answer :The bank will use the prevailing TT clean Buying rate of the bank on the date of the conversion. The exchange rates are available in our website.
• Q 5. Is remittance incentive paid by the Government applicable for IB account?
• Answer :No. Remittance incentive is not applicable for IB account deposits or encashment.
• Q 6. What is the SWIFT code of NRBC Bank PLC?
• Answer :Our SWIFT Code is NRBBBDDH. It is also known as BIC (Bank Identification Code).
• Q 7. If I have IB account in one currency, can I send outward remittance in other currency?
• Answer :Yes. In this case, cross currency conversion will take place for the outward remittance.

• Q 1. Is there any tax or any duty applicable on the deposit or interest?
• Answer : As per new Offshore Banking Act passed by National Parliament of Bangladesh on 14 March 2024, depositors are exempted from any tax on the balance of IB account and on any interest paid. Also no excise duty is applicable on the balance of the account.

• Q 1. How is NRBC Bank offering such high-interest rates on IB account deposits?
• Answer: Offshore banking basically is dependent on foreign borrowings @ 2%-3% margin on SOFR/benchmark rates. NRBC Bank aims to expand its long-term customer deposit base by providing competitive deposit rates aligned with regulatory guidelines. Therefore, NRBC Bank is offering these competitive rates instead of borrowing from abroad and it will save cost to the bank as well as reduce market dependency.
• Q 2. Is there any possibility to obtain Commercially Important Person (CIP) status from government of Bangladesh by maintaining funds in an IB account?
• Answer : Since this is an investment in an IB account, this is out of the scope of non-resident remittance category which is considered for CIP status by the government.