Probashi
Biniyog
BRAC Bank Limited offers 'Probashi Biniyog' – a
product that exclusively provides Non-Resident Bangladeshis (NRBs) the
opportunity to invest in the Bangladeshi Capital Market through a Beneficiary
Owner's (BO) account which will be funded by a Non Resident Investor's Taka
Account (NITA). Both BO account and NITA will be held with BRAC Bank Limited.
Features:
·
NRBs can invest into the Bangladeshi
Capital Market from anywhere in the world
·
Custodian Service will be provided by
BRAC Bank
·
100% repatriation of capital, dividend
and investment profits
·
NRBs can apply for IPOs as well as buy
and sell shares in the Secondary Market through BRAC Bank Limited. They can use
e-mail, fax or phone to issue trade orders to BRAC Bank Limited
BRAC
Bank Limited will;
·
Provide custodial services, i.e. hold
your shares/stocks in safe custody
·
Arrange purchases and sales of
securities of your choice through its subsidiary, BRAC EPL Stock Brokerage
Limited.
·
Collect information on your income from
such assets (e.g. dividends)
·
Provide information on the underlying
companies and their annual general meetings, manage cash transactions, perform
foreign exchange transactions where required and provide regular reporting on
all their activities to you
·
Manage funds in NITA and arrange
repatriation of all funds including capital gains to your overseas bank account
based on your instructions
Eligibility:
·
All Bangladeshi nationals (Bangladeshi
passport holders) who are working/living abroad can open NITA. Foreign passport
holders who are originally from Bangladesh are also eligible to open an
account.
Account
Operations:
·
Only share related transactions are
allowed
·
No ATM card or Cheque book will be
issued against NITA
·
NITA (Current account – non-interest
bearing account) will provide customers the flexibility to remit funds from
abroad which will be kept in the account as local currency (BDT)
·
Permissible deposits under NITA
·
Inward Remittances
·
Transfer from FCY account
·
Refund Warrants of IPO
·
Sale proceeds of shares
·
Dividends/Bonus from shares
How
To Get Started?
In order to avail the Share dealing and custodial
services, you will be required to fill out and sign the following:
1. FC
Account opening Form (only if you do not already have one) – To remit foreign
currency into your account and enjoy NRB quotas while applying for IPOs.
2. NITA
(Non-Resident Investor's Taka Account) opening Form – To make financial
transactions for purchase and sale of shares in the secondary stock market
(that is in Dhaka Stock Exchange).
3. Customer
Information Form – To conduct actual trading of shares in the share market.
4. BO
Account opening Form – To hold shares that will be purchased by the BRAC Bank
Limited on your behalf.
5. BO
Account nomination Form – To nominate up to two people to receive any
outstanding shares in the event of death.
6. Custodian
Agreement – To authorize BRAC Bank Limited as the custodian of your shares.
7. NITA
Securities Accounts Services Agreement – To authorize BRAC Bank Limited to
carry out your share trading orders and settle all transactions that are
required to close deals.
You will be required to send the hard copies of all
the papers/forms along with the following supporting documents to BBL:
·
Photocopy of your passport
·
7 copies of passport sized photographs
of yourself
·
3 copies of passport sized photographs
of nominee (with your signature)
·
Any statement from your employer or a
business document if you are involved in business
·
Copy of your resident/work permit or
valid visa
·
Proof of Address (utility bill or bank
statement)
Comments