Further Simplification of Foreign Investment in Bangladesh
The Central Bank of Bangladesh has made further simplification of the process of Foreign Investment in the country. They have clarified the simplification by their latest publication, FE Circular Letter No. 11, date: 17.05.2021, from Foreign Exchange Policy Department, Bangladesh Bank, Head Office. With this publication, both bankers and foreign investors will be pleased to know that now they do not have any further barriers to open a temporary FDI account through an online application. This policy change will surely ease both the Authorized Dealer (AD) banks in Bangladesh and the potential foreign investors. Simplification of Account Opening Procedures: The Central Bank of Bangladesh has recently allowed banks in Bangladesh to open accounts through online applications. They published a circular letter from their Banking Regulation and Policy Department (BRPD), Head Office on 11.03.2021 (Circular letter no. 16) in this regard. Previou...