Streamlining Offshore Banking Operations: Regulatory Updates for Enhanced Efficiency

In order to enhance the efficiency of offshore banking operations, a decision has been made to exempt banks engaged in offshore banking operations from the obligation to maintain a cash reserve ratio with the Bangladesh Bank.

Additionally, offshore banking operations are now authorized to transfer funds to their domestic banking units without restrictions. This includes for settling import payments for capital machinery, industrial raw materials, government imports, and other permissible payment obligations in accordance with existing foreign exchange rules and regulations.