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NCC Bank Offshore Banking Unit

Offshore Banking (OB) has undergone a long developmental transition in Bangladesh due to the global and internal business dynamics. Since the initiation in 1985 in Bangladesh, concurrent global and internal business dynamics necessitate the revision and up-gradation of the policy on offshore banking to streamline the operations. Accordingly, Bangladesh Bank has issued BRPD Circular No: 02, dated 25 February, 2019 wherein it was advised for all scheduled Banks to follow the set of instructions for conducting offshore banking in Bangladesh. The circular reveals that any scheduled bank willing to operate offshore banking in Bangladesh shall have to obtain approval from Bangladesh Bank.

NCC Bank Ltd. obtained permission of its Off-Shore Banking Unit (OBU) from Bangladesh Bank vide approval Letter No. BRPD(P-3)744(113)2010-1648 dated: 2 May, 2010. Initially, OBU started its limited operations being located at our Foreign Exchange Branch, Dhaka and later on has shifted from Foreign Exchange Branch, Dhaka to NCC Bank Bhaban Branch, Dhaka vide letter No: BRPD (P-3) 744 (113) 2016-72 dated 05.01.2016. At present the bank is running its OBU operations with 01 OBU unit named "OBU, NCC Bank Bhaban Branch.

In compliance with the BRPD Circular No: 02 dated: 25 May, 2019 the Bank has formed it's Off-Shore Banking Division (OBD) at Head Office level in May 2019 to control and supervise the operations of Off-Shore Banking Unit (OBU) at branch level.

At present our Off-Shore Banking Unit (OBU) may discount/purchase accepted usance/deferred bills against import from abroad on banker customer relationship applying due diligence and arrange payment to overseas suppliers. In addition, Off-Shore Banking Unit (OBU), may discount/purchase accepted usance/deferred export bills against direct and deemed exports of products produced in Bangladesh subject to compliance of applicable instructions. With prior permission from the Bangladesh Bank, banks, as part of our Offshore Banking Unit, may make medium/long term loans/advances to the industrial enterprises resident in Bangladesh. We may conduct full fledged offshore banking operations as per BRPD Circulars.