Offshore Banking

Off-Shore Banking Operations

Off-shore Banking refers to International Banking involving non-residents’ foreign currency-denominated assets and liabilities. Off-shore Banking Operations(OBO) conduct their deposit borrowing and lending activities with foreign investors without conflict with the domestic fiscal and monetary set up and independent of the local Commercial Banking system.

Modhumoti Bank PLC. established its Off-shore Banking Operations with a view of catering the banking requirement of non-resident customers to increase foreign trade business. It commenced its operations of Offshore Banking business in the year 2015. Since the inception of Off-shore Banking Operations, Modhumoti Bank has been serving the offshore banking facilities to the customers’ complying the rules and regulations of Bangladesh.Off-shore Banking acts as a unique solution for banks across the globe to carry out international banking business involving foreign currency denominated assets and liabilities taking the advantages of low or non-existent taxes/levies and higher return on investment.

Though the country’s Offshore Banking market is dominated by the foreign banks, Modhumoti Bank has been able to make its presence felt by attracting a good number of customers in a short period of time of its Off-shore Banking products and ensuring highest levels of professionalism and excellent customer services backed by quality human and technological supports.

Objectives of Off-shore Banking Operations are as follows:

• Attract and facilitate potential foreign investors and entrepreneurs in the EPZs, PEPZs, EZs and Hi-Tech Parks.
• Attract investment for non-resident Bangladeshi investors;
• Facilitates cheap foreign currency fund to the customers of Bangladesh etc.

Off-Shore Banking Services:

• Foreign Account for Non-Residents individuals, foreign person & institutions.
• International Banking (IB) Accounts for Resident Bangladeshi individuals and corporate entities including Type-A, Type-B, and Type-C industrial enterprises operating in EPZs/EZs/HTPs.
• Full Export-Import services to Type-A industrial units in EPZs, PEPZs, EZs & Hi-tech Parks.
• Facilitates UPAS L/C and discounting of export bills.
• Short Term Foreign Currency Loan to ADs for purchase of Export Bills in Foreign Currency.
• Foreign Currency Term Loan to eligible industrial units.

Off-Shore Banking Products:

• Modhumoti Foreign Account.
• Modhumoti International Banking (IB) Account.

Customers are welcomed to cater OBO’s services

Contact Details:

Offshore Banking Operations
Khandker Tower, Level-7, 94 Gulshan Avenue,
Gulshan-1, Dhaka-1212
Mobile No.+88 01819434591
E-mail:fahmida@modhumotibankplc.com