Offshore Banking Operations ("OBOs") | VDB

Bangladesh Keyword: Offshore Banking Operations ("OBOs")

Circular No. 04 dated 13 April 2023 issued by the Foreign Exchange Investment Department of the Bangladesh Bank on “Placement of Funds from Offshore Banking Operations (“OBOs”) with Domestic Banking Units (“DBUs”)”

May 3, 2023

https://vdb-loi.com.kh/bd_publications/circular-no-04-dated-13-april-2023-issued-by-the-foreign-exchange-investment-department-of-the-bangladesh-bank-on-placement-of-funds-from-offshore-banking-operations-obos/

OBOs are allowed to place funds with their DBUs in an amount up to 25% of the total regulatory capital of the bank to settle import payments for capital machinery, industrial raw materials, and other imports by the government. The circular specifies a relaxation of the limit to bring further flexibility for external transactions, allowing […]