Opening of Foreign Currency Account

Mr. Z

Address….

Dear Sir,

Opening of Foreign Currency Account

With reference to your letter dated 09-09-2002 on the above subject, this is to inform you that permission is granted in principle to open a foreign currency account of US Dollars in your name with Bangladesh Bank. It may be mentioned that interest will be payable on the money deposited in the said account as is payable for other foreign currency clearing accounts maintained with this Bank. Copy of the letter dated 28.06.2001 relating to Nitimala of payment of interest is enclosed for your information.

Enclosure: 1                                                                              Yours faithfully,

………………….

For: “The Lawyers & Jurists”

All Authorised Dealer Banks of Foreign Currencies

Head Office, Dhaka

Payment/Realisation of Interest on the Balance of Foreign Currency Clearing Accounts

Sir,

With reference to the above subject,     we draw your attention to this Office’s Letter No. ID(CAS)1/98/3922-3959 dated 09.06.1998.

(2)                   Upon consideration of the matter relating to Payment of Interest on the Balance of Foreign Currency Clearing Accounts maintained by the Authorised Dealer Banks it has been decided that from July 2001 the average interest that Bangladesh Bank earns on its total reserve on currency basis each month, the Banks will be paid interest at the same rate on their credit balance of clearing accounts.

(3)                   The earlier decision to realise interest at the rate of more than 1% of the above rate of the debit balance of the banks shall remain unchanged.

Yours faithfully,

………………….

For: “The Lawyers & Jurists”

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