BRAC Bank promotes its offshore banking product among expats in New York
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BRAC Bank promoted its offshore banking deposit product ‘Bondhon’ among expatriate Bangladeshis at an Offshore Banking Fixed Deposit Outreach Programme in New York City recently.
Selim R. F. Hussain, Managing Director and CEO of BRAC Bank, highlighted the lucrative benefits of the product, specially designed for expatriates, at the event, according to a press release.
He said the government has formulated the Offshore Banking Act to boost foreign investment.
“With Bondhon, we are not only providing lucrative savings and investment opportunities for expatriates but also contributing to the economic development of Bangladesh by attracting more foreign exchange,” the MD and CEO of BRAC Bank said.
“The expatriates can trust their hard-earned money with BRAC Bank, the highest rated bank by local and international credit rating agencies.”
“We believe this product will strengthen our relationships with our valued non-resident customers and foster a stronger connection with Bangladesh,” he added.
Muhammad Imran, Ambassador of Bangladesh to the USA; Muhammad Abdul Muhith, Permanent Representative of Bangladesh to the UN; and Kazi Sayedur Rahman, Deputy Governor of Bangladesh Bank; were present at the programme at LaGuardia Airport Marriott attended by more than 350 expatriates.
Mashrur Arefin, MD & CEO of The City Bank PLC.; Abul Kashem Md. Shirin, MD & CEO of Dutch-Bangla Bank PLC.; and Md. Murshedul Kabir, Chief Executive Officer of Agrani Bank PLC; were also present at the event.
The press release said, “BRAC Bank’s OBU product brings in a wide range of savings and investment opportunities with up to 8.57 per cent interest. They will enjoy tax-free benefits and a flexible tenor of 3 months to 5 years.”
“The customers will enjoy easy repatriation and most importantly waiver from deduction of withholding tax on interest-earning,” it added.
“Savings can start with as little as $500. The expatriates will avail themselves of 24/7 digital banking and free account maintenance. The customers within a particular deposit threshold will also enjoy membership in BRAC Bank Premium Banking, airport meet and greet service, free entry to Balaka lounge, etc.”