All of our deposit and investment modes are managed in strict adherence to Islamic Shari'ah principles.
For Whom
An Al-Wadeeah Non-Resident Foreign Currency Deposit (NFCD) account is specifically designed for individuals and businesses operating outside of Bangladesh who wish to maintain funds in foreign currencies.
Features
Shariah Principle: Operates as a safe custody deposit where the bank acts as a custodian (Ameen); no interest or profit is paid on basic Wadeeah custody accounts, and depositors do not bear any risk of loss
Accepted Currencies: Can typically be maintained in major international currencies including US Dollar (USD), Great Britain Pound (GBP), Euro (EUR), and Japanese Yen (JPY).
Fund Repatriation: Total principal balances can be freely repatriated abroad through formal banking channels or converted into local Bangladeshi Taka (BDT) at prevailing exchange rates.
Eligibility
Bangladeshis residing/working abroad
Bangladeshis having dual nationality residing abroad
Bangladesh nationals serving with missions of Bangladesh in foreign countries
Officers/staff of the government/semi-government organizations /nationalized banks and employees of body corporate posted abroad or deputed with international and egional agencies against foreign currency remitted through banking channel or brought in cash.
Requirements
2 copies of recent PP size Photograph
Photocopy of Passport
Citizenship certificate (if available)
Certificate or approval from our authority for exporting manpower
Nomination of Nominee.
Initial deposit Generally USD1000 or GBP500 or equivalent. For the Foreign nationals, companies/firms registered and/or incorporated abroad, other financial institutions including institutional investors abroad and Type-A units in EPZ USD 25,000 or equivalent.
Book an Appointment
Book an appointment with us directly to discuss your banking needs.
