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Open a NRB Account
NRB Account
 
Non-Resident Bangladeshis (NRB) can open a Beneficiary Owner Account (BO Account) to participate in IPOs and also in the secondary share market in Bangladesh.

A portion of all IPOs is set aside for allotment to NRBs, usually 10%.

To participate in IPOs in Bangladesh NRBs can go through the prospectus hosted on SEC website - www.secbd.org . Other market information is available on Dhaka and Chittagong stock exchange websites- www.dsebd.org and www.csebd.com respectively.

Since IPO allotment of shares can only be credited to a Beneficiary Owner Account (BO Account) NRB's open such accounts with stockbrokers or banks who are Depository Participants (DP).

NRB's give a general Power Of Attorney (POA) to someone resident in Bangladesh, who can operate the BO Account on their behalf and also sign the IPO application form

The POA will have to be notarized.

A list of DP's can be found in CDBL website - www.cdbl.com.bd .

The cost of opening a BO Account with a stockbroker DP can be upto TK 1,000/-

BO Account opening forms, POA forms, Nominee forms can be downloaded from CDBL website.

NRB's normally nominate someone resident in Bangladesh (e.g. a relative) to operate their Foreign Currency Account (FCA) so that the nominee is able to get bank drafts issued from the FCA against his signature.

It would be best if you find someone in your city who is a market player in Bangladesh. He/she can advise you more on the practical aspects.

In case you have any further queries; please feel free to e-mail us at cdbl@bol-online.com