NRB Escrow Account, newly introduced by Janata Bank Limited for Non-Resident Bangladeshis.
The expatriate Bangladeshis may require to expense their money sent to home in various purposes or to repay certain dues to individuals/institutions. But due to non-availability of dependable persons their purpose are not served and their hard earned money is not utilized in proper way. A large number of expatriate Bangladeshis often compliant that due to absence of dependable representative at home and due to lack of sufficient knowledge of their nominees about official procedures, they can not ensure proper utilization of their hard earned money or invest the same inspite of their every intention to do that. As a result, they are discouraged in remitting/investing money to the country.
With a view to solve these problems of the expatriates, Janata Bank Limited has introduced a new foreign currency account for the Non-Resident Bangladeshis namely- NBR Escrow Account.
Who are entitled to open NRB Escrow A/c.
Bangladeshi nationals while preparing to go abroad or expatriate Bangladeshis while staying home may open this A/c. Expatriate Bangladeshis may also open NRB Escrow A/c through Bangladesh Embassy/High Commission Office abroad or through Janata Bank Limited branches in the UAE or through Janata Bank Limited's own exchange house "Janata Exchange Company SRL" in Rome, Italy.
Nature of NRB Escrow A/c.
Expatriate Bangladeshis may open this A/c in U.S. Dollar in the form of Current Account in individual name and not in the name of any institution. The account is non-interest bearing.
Papers/information required for opening NRB Escrow A/c.
- a) Prescribed Account opening form duly filled in and signed by the applicant.
- b) Two copies of passport size photograph duly attested.
- c) Photocopy of passport/visa and work permit duly attested.
- d) Attested copy of appointment Letter/Contract or declaration regarding source of income abroad.
NRB Escrow A/c holders may instruct the bank to do the following jobs on their behalf.
|(a)||To make payment to a person or to an organization a certain amount of money from his account.|
|(b)||To transfer a certain sum of money from his account to any other account.|
|(c)||To repay instalments of loan availed by him from any financial institution.|
|(d)||To repay in instalments or at a time the sum of money to a Real Estate Company or a Housing Company /a Land Developer for purchase of land/flat.|
|(e)||To invest their money in Fixed Deposit, Sanchay Patra, Share, Debenture or any other investment.|
|(f)||To repay Income Tax, Municipality Tax or any other government dues.|
|(g)||To pay donation or subscription to any Bangladeshi government or non-government organization, School, College, Mosque, Madrasa or Club.|
NRB Escrow A/c holder's instruction may be of two manner:-
(a) Standing Instruction to repay a certain sum of money to a person/institution regularly after an interval. (b) Case to case Instruction to repay money to a person/institution as desired by the A/c holder from time to time. The A/c holders will send case to case instruction to the bank through postal system.
The account holders in the standing instruction will mention in detail the name, address, A/c No. and identity of the payee and reasons for payment of money.
NRB A/c holders may continue their accounts after return to Bangladesh or may close the account and transfer the foreign currency to another Taka Account or may receive the deposited amount through Pay Order.
The expatriate Bangladeshi through opening NRB Escrow A/c may ensure security of their hard earned money and on the other hand may repay different dues or make payment to the desired persons/institutions. Expatriate Bangladeshis are requested to open NRB Escrow A/c with Janata Bank Limited.
NRB Escrow A/c may be opened with the following branches of Janata Bank Limited at the first phase and subsequently with all the Authorised Dealer branches.
1. Local Office, Dhaka. 2. Janata Bhaban Corporate Branch, Dhaka. 3. Dilkusha Corporate Branch, Dhaka. 4. Mohammadpur Corporate Branch, Dhaka. 5. Laldighi East Corporate Branch, Chittagong. 6. Sylhet Corporate Branch, Sylhet 7. Comilla Corporate Branch, Comilla. 8. Rajshahi Corporate Branch, Rajshahi. 9. Khulna Corporate Branch, Khulna. 10. Barisal Corporate Branch, Barisal.