SIBL has been permitted with one Offshore Banking Unit (OBU) in Dhaka to provide financing facility in foreign currency to its valued clients. The main business of OBU comprises of financing against UPAS (Usance Payable at Sight) LCs of Authorized Dealer Branches. The OBU also discounts export bills against acceptance of LC issuing bank. It also focuses to cater the need of financial supports and off-shore banking facilities to the 100% foreign owned / Joint Venture units in the EPZs.

International Banking (IB accounts)

OBU may maintain FC accounts termed as International Banking (IB accounts) in the name of Bangladeshi individuals and corporate entities including Type-A, Type-B and Type-C industrial enterprises operating in EPZs/EZs/HTPs having bona fide relations with non-residents. In this context, IB account-holder will act as facilitator of remitters and utilize the funds accordingly.

Bangladesh Bank also allowed OBUs to offer profit considering benchmark reference rate in the approved currency of deposit to be maintained in the form of term deposits. The profit rate should be-

However, on the basis of the instruction of respective account holders or facilitator, OBU may transfer the balance amount to the on-shore bank accounts for meeting necessary payments and various investments as well as making outward remittances of balance amount including profit as and when necessary.