Individual Account

• Copy of Valid Photo ID for account holder/ Applicant and Nominee (Such as Passport / National ID etc.)
• Passport size Photograph of the Applicant – 2 Copies, Nominee duly attested by the applicant – 1 Copy.
• Address Verification Documents if Address not Matched with Applicant Photo ID e.g. Utility Bill etc.
• An Undertaking Form duly signed by the Remitter. This will be required before crediting any foreign currency into the IB account.

Non-Individual Account

• Extract of Resolution/Board Resolution
• Trade License or alternative document
• Certificate of Incorporation
• Memorandum and Articles of Association
• Updated Form X & XII
• Photo ID of shareholders (Top 5 shareholders’ details required when shareholders are more than 5. If the total number of shareholders is 5 or less than 5, then all shareholders’/authorized signatories’ details for the account/ the beneficial owners’ details of the Company)
• 2 copies of passport size photos of each shareholder (Top 5 shareholders’ photos are required when shareholders are more than 5. If the total number of shareholders is 5 or less than 5, then all shareholders’/all authorized signatories’ photos are required for the account/ the beneficial owners’ photos of the Company)
• An Undertaking Form duly signed by the Remitter. This will be required before crediting any foreign currency into the account.

1. What is Offshore Banking FC account?
   Account that can be opened by residents outside Bangladesh in foreign currency. For example, non-resident Bangladeshi national (NRB), foreign nationals, companies/firms registered and operating abroad, foreign institutional investors etc.
2. Who can open Offshore Banking (FC) Account?
   • Persons resident outside Bangladesh.
   • Non-resident Bangladeshi nationals.
   • Persons of Bangladeshi origin.
   • Foreign nationals.
   • Companies/firms registered and operating abroad
   • Foreign institutional investors

   Note: All individuals will have to be of age 18 & above.

3. Document required to open Offshore Banking (FC) account
   For Individual Account:

   • Passport size recent colour photograph: Applicant - 02 copies, Nominee - 01 copy duly attested by the Applicant.
   • Copy of valid Photo ID for Applicant and Nominee (Passport / National ID etc.). For NRB applicant, Passport with valid Visa copy.
   • Address verification document (if address not matched with applicant’s photo ID): (e.g. Utility Bill etc.)
   • Salary Certificate or Bank Statement for foreign nationals. Resident Card/Work Permit for NRBs.

   For Non-Individual Account:

   • Photo ID of Shareholders: (Top 5 shareholders’ details required when shareholders are more than 5. If the total number of shareholders is 5 or less than 5, then all shareholders’/authorized signatories’ details for the account/ the beneficial owners’ details of the Company)
   • 02 copies Passport size recent colour photograph of Shareholder: (Top 5 shareholders’ photos required when shareholders are more than 5. If the total number of shareholders is 5 or less than 5, then all shareholders’/authorized signatories’ photos for the account/ the beneficial owners’ photos of the Company)
   • Extract of Resolution / Board Resolution.
   • Trade License or similar Document.
   • Certificate of Incorporation.
   • Memorandum and Article of Association.
   • Updated Form X and XII
4. How can the account holder credit the funds in his/her accounts?
   Funds can be credited by foreign inward remittance received through official channels only.
5. Can an existing Pubali Bank customer open Offshore Banking (FC) account?
   Yes, he/she can open Offshore Banking (FC) account if he qualifies for opening FC account as per question 2 or 3 above.
6. What type of account can a customer open?
   Savings Account, Current account and Term Deposit account are available.
7. Can a customer open a joint Offshore Banking (FC) account?
   No.
8. Can a customer open a term deposit account without opening a current account?
   Yes.
9. Is nominee mandatory for Offshore Banking (FC) account?
   Yes.
10. Can a customer add multiple nominees to the Offshore Banking (FC) account?
    Yes.
11. In which currency a customer can open Offshore Banking (FC) account?
    Currently only in USD, EUR and GBP. We may add other currencies in the near future.
12. Can a customer open Offshore Banking (FC) account in any branch?
    Yes, a customer has multiple convenient options to initiate opening an Offshore Banking (FC) account. He can visit any branch or sub-branch, including Islamic Banking Windows. They will handle forwarding his application to the Offshore Banking Unit. Additionally, the customer can submit his application online through the bank's web portal or by email.
13. Is there a minimum deposit required to open a term deposit account?
    Savings and current accounts do not have a minimum deposit requirement. The minimum deposit to open a term deposit account is USD/EUR/GBP 1,000
14. Is there any maximum deposit limit for Offshore Banking (FC) account?
    No.
15. Can customers avail of any Credit card or Debit card against Offshore Banking (FC) account?
    Yes. Only debit Card may be allowed against Savings & Current Account.
16. Is there any cheque book facility available against Offshore Banking (FC) account?
    No.
17. Is it possible to deposit foreign currency in cash form?
    No.
18. Is it possible to withdraw amount from the account in cash form?
    No cash withdrawal possible from offshore Banking (FC) account.
19. Is Offshore Banking (FC) account an interest-bearing account?
    Current account is not interest bearing but Term deposit account is interest bearing as per prescribed rate.
20. Is interest rate fixed in Offshore Banking Term Deposit Account?
    The interest rate is based on the benchmark rate and tenors of deposit for the respective currencies which may be fixed at the time of opening Term Deposit Account.
21. What is a “Benchmark Rate”?
    Benchmark or reference rate that reflects the cost of particular currency based on international demand and supply.
22. What interest rate will be applied for premature encashment of Offshore Banking Term Deposit?
    For less than 03 months no interest will be paid. For premature encashment after 03 months, applicable rate will be 03-month benchmark rate of the respective currency.
23. What is the tenor of Offshore Banking Term Deposit Account?
    Tenor: 03 months/ 06 months/ 01 year/ 03 years/ 05 years.
24. How will the customer use the balance of the account?
    Balance can be used for

    • Transferring to onshore accounts to meet necessary payments and investments.
    • Making outward remittances of the balance amount including interest as and when necessary.
25. Is the balance in Offshore Banking (FC) account freely transferrable abroad?
    Yes, balance of Offshore Banking (FC) account is freely transferrable abroad.
26. Can a customer open Offshore Banking (FC) account in different banks?
    Yes.
27. Can a customer open multiple currency Offshore Banking (FC) account?
    Yes.
28. Can Islamic customer open Offshore Banking (FC) account in the Islamic module?
    No. Not available at this moment.
29. Is there any tax applicable in an Offshore Banking (FC) Account?
    No. Customers are exempted from any Taxes, Duties and Levies.
30. If I have Offshore Banking (FC) account in one currency, can I send outward remittance in other currency?
    Yes. In this case, cross currency conversion rate will be applicable.
31. Are there any fees/charges for maintaining Offshore Banking (FC) Account?
    No.
32. Can remittance be received in the Offshore Banking (FC) Account?
    Yes, only in foreign currency.
33. Can customers transfer the balance of one of their Offshore Banking (FC) Account to their another Offshore Banking (FC) account?
    Yes.
34. Is incentive applicable for remittance encashment?
    No.
35. What is the SWIFT code of Pubali Bank PLC?
    Our SWIFT Code is PUBABDDH. It is also known as BIC (Bank Identification Code).

1. What is Pubali Bank International Banking (IB) Account?
   Account that can be opened by Bangladeshi resident individuals/ Corporate entities/Firms in foreign currency in OBU named as International Banking (IB) account.
2. Who can open IB Account?
   • Resident Bangladeshi individuals (18 years and above)
   • Bangladeshi Corporates/Firms
   • Type A, Type B, Type C industrial enterprises operating in EPZs (Export Processing Zones)/EZs (Economic Zones)/HTPs (High Tech Parks)

   N.B.- The above individuals / Corporates having bonafide relations with non-residents can open/operate International Banking (IB) Accounts.

3. Can a foreign national open an IB account?
   No. Foreign national can alternatively open the other product: Offshore Banking (FC) account.
4. Can any resident Bangladeshi open IB Account?
   Yes, only if the applicant has a bonafide relationship with the remitter residing outside of Bangladesh.
5. Do I need to share any proof of bonafide relation with the remitter?
   Yes, the account holder must submit an indemnity form (bank’s prescribed format) duly signed by the Remitter.
6. How can account holder credit the fund in his accounts?
   Fund can be credited by inward remittance received through official channels only.
7. What is the function of the IB Account holder?
   IB Account holder will act as the facilitator of the remitter and utilize the funds accordingly. The facilitator will operate the account as the sole account holder.
8. Documents required to open IB account
   For Individual Account:

   • Passport size recent colour photograph: Applicant - 02 copies, Nominee - 01 copy duly attested by the Applicant.
   • Copy of valid Photo ID for Account holder/Applicant and Nominee (Passport / National ID / Birth Certificate etc.).
   • Address verification document (if address not matched with applicant’s photo ID): (e.g. Utility Bill etc.)
   • An ‘Undertaking Form’ duly signed by the Remitter. This is required before crediting any Foreign Currency in the IB Account.

   For Non-Individual Account:

   • Photo Identification of Shareholder: (Top 5 shareholders’ details required when shareholders are more than 5. If the total number of shareholders is 5 or less than 5, then all shareholders’/authorized signatories’ details for the account/ the beneficial owners’ details of the Company)
   • 02 copies Passport size recent colour photograph of Shareholder: (Top 5 shareholders’ photos required when shareholders are more than 5. If the total number of shareholders is 5 or less than 5, then all shareholders’/authorized signatories’ photos for the account/ the beneficial owners’ photos of the Company)
   • Extract of Resolution / Board Resolution.
   • Trade License or similar Document.
   • Certificate of Incorporation.
   • Memorandum and Article of Association.
   • Updated Form X and XII
   • An ‘Undertaking Form’ duly signed by the Remitter. This is required before crediting any Foreign Currency in the Account.
9. Can an existing Pubali Bank customer open IB account?
   Yes.
10. What type of account a customer can open?
    Savings account, Current account and Term Deposit account are available.
11. Can a customer open a joint IB account?
    No.
12. Can a customer open a term deposit account without opening a current account?
    Yes.
13. Is a nominee mandatory for IB account?
    Yes.
14. Can a customer add multiple nominees to the IB account?
    Yes.
15. Is a passport mandatory to open an IB account?
    Passport is not mandatory. Any kind of photo ID (Such as Passport / National ID etc.) is required.
16. In which currency a customer can open IB account?
    Currently a customer can open IB account in USD, EUR and GBP.
17. Is there any minimum deposit threshold required to open the IB account?
    For savings account and current account opening, no minimum balance is required but for fixed deposit account minimum deposit is USD/EUR/GBP 1,000.00.
18. Is there any maximum deposit ceiling for IB account?
    No.
19. Can customers avail any Credit card or Debit card against IB account?
    Yes.
20. Is there any cheque book facility available against IB account?
    No.
21. Is it possible to deposit foreign currency in cash form?
    No.
22. Is it possible to withdraw amount from the account in cash FC form?
    No.
23. Is IB account an interest-bearing account?
    Current account is not interest bearing but Term deposit account is interest bearing as per prescribed rate.
24. Is the interest rate fixed in IB Term Deposit account?
    The interest rate is based on the benchmark rate and tenors of deposit for the respective currencies which may be fixed at the time of opening Term Deposit Account.
25. What is a “Benchmark Rate”?
    Benchmark or reference rate that reflects the cost of a particular currency based on international demand and supply.
26. What interest rate will be applied for premature encashment of IB fixed deposit?
    For less than 03 months no interest will be paid. For premature encashment after 03 months, applicable rate will be 03 months’ benchmark rate of the respective currency.
27. What is the tenor of IB Term deposit account?
    Tenor: 03 months/ 06 months/ 01 year/ 03 years/ 05 years.
28. How will the customer use the balance of the account?
    Balance can be used for

    • Transfer to onshore accounts to meet necessary payments and investments.
    • Making outward remittances of the balance amount including interest to the Remitter as and when necessary.
29. Is the balance in IB account freely transferrable to abroad?
    Yes, freely transferrable to the Remitter abroad.
30. What will be the conversion rate if a customer wants to convert the currency into BDT to an on-shore bank account?
    Prevailing TT Clean Buying rate.
31. Can a customer open an IB account with multiple currencies for the same remitter?
    Yes.
32. Can an IB account have multiple remitters?
    No.
33. Can a facilitator open multiple IB account?
    Yes, if the remitter is different.
34. Can customer open IB account in Islamic Sharia based module?
    No, not available at this moment.
35. Is there any tax applicable in an International Banking (IB) Account?
    No. Customers are exempted from any Taxes, Duties and Levies.
36. If I have IB account in one currency, can I send outward remittance in other currency?
    Yes. In this case, cross currency conversion rate will be applicable.
37. Are there any fees/charges for maintaining IB account?
    No
38. Can customers transfer the balance of one of their IB Account to another of their IB Account?
    No.
39. What are eligible credit/inward transaction for IB Account?
    Inward foreign remittances received through Banking channels only.
40. Is incentive applicable for remittance encashment?
    No
41. What is the SWIFT code of Pubali Bank PLC?
    Our SWIFT Code is PUBABDDH. It is also known as BIC (Bank Identification Code).