OBU offers Al Wadiah Current Deposit Account, Mudaraba Savings Deposit Account, Mudaraba Special Notice Deposit Account and Mudaraba Term Deposit Account for non-resident individuals & corporate entities, foreign shareholders receiving dividend against FDI and resident foreign nationals serving in bangladesh; and Mudaraba International Banking (MIB) Account for resident individuals and corporate entities having bonafide relationship with non-residents.

•   Non-resident individuals can open Mudaraba Savings Deposit Account, Mudaraba Special Notice Deposit Account and Mudaraba Term Deposit Account with OBU.
•   Non-resident corporate entities can open Al Wadiah Current Deposit Account, Mudaraba Special Notice Deposit Account and Mudaraba Term Deposit Account.
•   Foreign Shareholders can open OBU account and deposit the receivable dividend against Foreign Direct Investment only.
•   Resident Foreign Nationals Serving in Bangladesh can open OBU account and deposit approved remittable portion of salary and allowances.
•   The following individuals or entities can open/operate Mudaraba International Banking (MIB) Accounts on behalf of non-residents:
•   • Any resident Bangladeshi individual (aged 18 years & above)
•   • Any Bangladeshi Corporate/Firms including industrial enterprises operating in EPZ/PEPZ/EZ/Hi-Tech Park.

An account that can be opened in foreign currency in Offshore Banking Unit (OBU) of the bank by resident Bangladeshi Individuals or Corporate/Firms who have bonafide relationship with non-residents is referred as Mudaraba International Banking (MIB) Account. In such cases the account holder will act as a facilitator to their non-resident remitter.

Opening an account in Offshore Banking Unit will allow you to save foreign currency in its own form instead of converting and saving those in local currency. Thus, you can enjoy benefits of

•   Increased exchange rate
•   Higher profit rate (provisional).
•   No tax, VAT and Excise Duty.
•   No charges required for maintenance of account.
•   High Privacy.

Any relationship that has logical explanation will be treated as bonafide relationship.

No cash transaction is allowed for MIB Account. MIB Account can be opened with zero balance. But the account will be credited only with the funds received through banking channel. Balance in MIB Accounts can be transferred to other account only either in foreign currency or in local currency.

No, remittance has to be sent by the one declared remitter only. However, IB account holder can open multiple accounts for different remitters.

Customers can open MIB accounts in USD, GBP, EUR, JPY, CNY, CHF, and CAD.

No, customers have to come to Offshore Banking Unit directly to open a MIB Account.

Yes, any existing customer can open IB account if he or she qualifies for the eligibility criteria for MIB Account.

The balance of the MIB accounts can be used for any of the following purposes:

•   Transferring to BDT accounts in on-shore banking to meet necessary payments and investments
•   Making outward remittances of the entire balance as and when necessary to the person who remitted the funds (Remitter).

No, customers cannot open a joint MIB account.

To open a Fixed deposit account, opening a current/savings/SND account is a mandatory requirement.

No, nominee must not be the remitter. Any one selected by the facilitator can act as nominee. (But remitter of the MIB account is preferred as nominee).

Yes, the customer can add multiple nominees to the account. For each nominee, we will need photo identification document and one copy passport sized photograph.

For maintaining a current/savings/SND account, no minimum balance is required. For Fixed deposit account, the minimum deposit amount is 5,000.00 for any currency.

No, there is no maximum deposit limit for OBU account.

No, currently, the bank will not issue any debit/credit card against this account.

Yes, a customer can open IB accounts in different currencies for the same remitter as per their requirement.

Yes, a facilitator can open multiple IB accounts if the remitter is different.

No, currently there is no Internet Banking facility available with our OBU.