TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK
TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK
TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK
Rate last updated: 02/01/2014 11:15:04 AM
Off-shore Banking refers to international banking involving non-residents’ foreign currency-denominated assets and liabilities. Off-shore Banking Units conduct their deposit taking and lending activities with foreign investors without conflict with the domestic fiscal and monetary set up and independent of the local commercial banking system. It may be further defined as the prioritized banking operation where there is no permission for resident Bangladeshi citizen and on contrary dealing with the non-residents 100% foreign owned & joint venture investment enterprise inside the export processing zones which does not fall under the set regulations of Bangladesh Bank and other regulators. It is completely a separate functions and distinct identity, where its customers can enjoy unique package of tax benefit and the operations which are free from local regulations to compete with domestic banks including local branches of foreign banks. Its operations is being treated as a country within a country, commissioned by a separate Banking License from Bangladesh bank, and free from minimum reserve requirement.
We have come a long way since we launched our Off-shore Banking operations in Dhaka Export Processing Zone six years ago. We are one of the pioneers among local banks in Bangladesh to set up an Off-shore Banking Unit, which went in operation in the year 2006 in Dhaka Export Processing Zone. As a second generation private commercial Bank, Dhaka Bank’s Off-shore Banking Unit has earned enormous confidence of the foreign investors due to its strong commitment and dedication over the years. Currently, the bank has been providing offshore banking services to several Type-A industrial units of the EPZs through its two OBUs in Dhaka and Chittagong Export Process Zone. We, in the Off-shore Banking unit, pride ourselves in our ability to provide premier Off-shore Trade solutions to our clients, while ensuring that highest levels of professionalism are practiced by our colleagues.
Though the country’s offshore banking market is dominated by the foreign banks, Dhaka Bank has been able to make its presence felt by attracting a good number of customers in a short period of time through effective marketing and competitive pricing of its offshore banking products and ensuring highest levels of professionalism and excellent customer services backed by quality human and technological supports. OBU invested around USD 19 million in offshore market to support Type-A industries as well as to strengthen its asset portfolios.
The nation was just halfway of its age; the passion for history and heritage and an obsession for faster pace exerted a powerful force for change in the business world. Many budding hopes grew as a choice of the new generation in the shadows of banking reformation of the nineties.
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