• Saturday, Aug 15, 2020
  • Last Update : 01:54 am

BB eases policies for foreign investors

  • Published at 01:40 pm July 8th, 2020
web-Bangladesh bank-bb
The Bangladesh Bank building at Motijheel Mehedi Hasan/ Dhaka Tribune

The central bank has recently granted a number of policy relaxations to attract foreign investments

Bangladesh Bank has eased its policy for foreign investments by allowing the foreigners to reinvest their funds in the country that the investors would receive dividend in their foreign currency account.

In the recent time, the central bank granted a number of policy relaxations for the foreign investors with a view to attract foreign investments, especially for those who were planning to leave China.

Under the policy relaxation, the central bank allowed foreign investors to withdraw investments in non-listed companies without the approval of the central bank upon compliance of a number of conditions.

A Bangladesh Bank circular issued on Tuesday said the foreign investors would be allowed to park their dividends in foreign currency (FC) accounts opened with the country’s banks and they would be allowed to remit the funds either to the destination country or in Bangladesh.

Encashment from the FC account in local currency would be treated as inward remittance, while crediting to the FC account would be treated as outward remittance.

Besides, the investors would be allowed to invest the balance with the  FC account for purchasing securities, the circular said.

Allowing foreigners to buy shares from the balance in their FC account would be another encouragement for them, an official of the central bank said, adding that such investments would also be treated as FDI again.

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