Dollars flow back to banks through RFCD accounts

Currently, most of the cash is held by Dollar Eastern, Citi, BRAC, Dutch-Bangla, Prime, Pubali, Standard Chartered, HSBC, Islami and some other banks. In addition to USD, clients can open RFCD accounts for Pounds, Euros, Australian Dollars, Canadian Dollars and Singapore Dollars.

Syed Mahbubur Rahman, managing director of Mutual Trust Bank (MTB), said that the amount of dollar deposits in banks is increasing after the central bank policy. People who acquired dollars through legitimate means are returning to banks to get interest. But those who deposited dollars through illegal channels may remain outside the banking system.

The MTB MD further said that they will take up various initiatives including promotional campaigns to increase the inflow of cash dollars into the banks.

Spread the love

We may earn a commission if you click on the links within this article. Learn more.