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BB allows FC accounts for foreign loans

Published : Wednesday, 7 October, 2026 at 7:16 PM

Observer Online Report

Bangladesh Bank has allowed eligible private industrial enterprises to open foreign currency (FC) accounts to hold and use proceeds from approved medium- and long-term foreign loans in foreign currencies.

The central bank issued a circular in this regard on Wednesday, allowing authorised dealer banks to open such accounts for eligible private industrial enterprises to facilitate international transactions and payments related to approved foreign financing.

According to the Bangladesh Bank directive, eligible private industrial enterprises may obtain medium- and long-term foreign financing subject to approval from the relevant authorities. Depending on the type and source of financing, approval must be obtained from the Invest Bangladesh Authority's (IBA) scrutiny committee on foreign loans or suppliers' credit, Bangladesh Bank and, where applicable, the Standing Committee on Non-Concessional Loans.

Through these FC accounts, eligible borrowers will be able to keep the proceeds of their approved foreign loans in foreign currency and use the funds in accordance with agreements with foreign lenders and the approved terms of the loans.

The circular said foreign currency held in such accounts may be used to make import payments in compliance with the prevailing Import Policy Order and foreign exchange regulations.

The funds may also be used to pay for genuine services required for projects being implemented under the approved foreign loans.

For approved local purchases, foreign currency from these FC accounts may be converted into taka. Interest or profit may also be earned on balances maintained in the accounts based on the bank-customer relationship.

The circular also allows FC accounts to be maintained for repayment after the withdrawal and utilisation of loan proceeds have been completed.

In cases where funds must be retained for repayment under the terms of the loan agreement, the FC account may be maintained until the maturity of the loan, subject to a maximum balance equivalent to the next three instalments.

The new arrangement is expected to provide private industrial enterprises with greater operational flexibility in managing proceeds from approved foreign financing. It is also expected to facilitate foreign currency liquidity management for import and service payments, approved local purchases and scheduled repayment of foreign loans.

- MaT

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Editor : Iqbal Sobhan Chowdhury

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