Bangladesh Bank has expanded the scope for non-resident Bangladeshis to open and operate Non-Resident Convertible Taka Accounts (NRCTA).
From now on, Authorized Dealer (AD) banks, alongside Offshore Banking Units, will also be eligible to open and manage these accounts.
The central bank issued this instruction in a circular released on Thursday (October 8). Under these guidelines, NRCTAs can be operated as savings, current, and term deposit accounts.
According to the new rules, foreign currency brought in from legitimate sources can be converted into Taka and deposited into these accounts.
In addition, inward remittances received through banking channels, funds transferred from designated foreign currency accounts, interest or profit on deposits, and repatriable earnings from lawful investments can also be credited.
Funds held in these accounts can be used to meet valid local expenses, make investments in Bangladesh, transfer to another NRCTA or non-resident Taka account, and be converted back into foreign currency where permitted.
The circular specifies that Authorized Dealer banks may extend regular Taka loans to eligible clients using the funds from these accounts.
Additionally, clients will have the option to secure Taka loans by pledging their NRCTA deposits for specific personal and legitimate business needs.
However, all lending must strictly comply with existing credit policies and directives from Bangladesh Bank.
Furthermore, the guidelines permit account operation through a Power of Attorney, allow the repatriation of funds to eligible non-resident nominees upon the account holder's death, and enable the account to remain active even if the account holder permanently returns to the country.
The central bank has encouraged banks to facilitate the management of these accounts via online and electronic banking services.
This new circular replaces the previous directive issued on June 23, 2026. However, accounts opened and transactions completed under the earlier rules will remain valid, with future management to be conducted in line with the new instructions.