Services for Non resident Bangladeshis by IBBL

Different Services of IBBL

Services to Non resident Bangladeshi

1. Remittance Card Service

2. NRB (Non Resident Bangladeshi) Entrepreneurs Investment Scheme (NEIS)

3. Mudaraba NRB Savings Bond (MNSB) Scheme

2. NRB (Non Resident Bangladeshi) Entrepreneurs Investment Scheme (NEIS)

Objectives: To extend investment facilities to Bangladeshis (NRBs) working abroad temporarily or permanently and remit foreign currencies through IBBL, intending to invest in Bangladesh.

Eligibility of the clients:Non Resident Bangladeshi within age limit of 18 to 60 years. Bangladeshi citizens resided in abroad for long time, remitted foreign currencies through IBBL channel and now in Bangladesh.  Family members of the NRB i.e. Spouse, Sons and/or Daughters who is/are maintaining A/C with IBBL with the remittance of NRB routed through IBBL.

Purpose of Investment:Establishment of manufacturing/service industries/processing & BMRE thereof.Working Capital to run the projects/or any ready projects.Trade financing.

Investment Limit: Investment range shall be from Tk.0.05 million to Tk.100.00 million

Period of Investment: Term Investment :Maximum 10 years depending on the nature/need of investment client/business

Working Capital and Trade Financing: Maximum 1 (one) year on revolving basis

Modes of Investment: Bai-Murabaha, Bai-Murabaha (TR), Bai-Muajjal, Bai-Salam, Bai-As-Sarf, Hire-Purchase under Shirkatul Melk (HPSM), Musharaka, Mudaraba, MDB.

Rate of Return: The rate of return shall be 12% or to be determined by the Bank from time to time.

Securities and Collateral:Collaterals security may not be insisted up to Investment of Tk.0.50 million only. In case of investment exceeding Tk.0.50 million, collateral security shall have to be obtained as per Bank’s usual norms and practices.

In all cases the following documents are to be obtained:Personal guarantee of the client.Personal guarantee of spouse/father/mother/sister/brother.In case of self-employment of technical personal, certificates will have to be deposited with the Bank.Post-dated cheques for the whole period on investment mentioning amount of investment shall have to be obtained as per Bank’s usual norms and practices.

Other documents as per Bank’s/requirement/norms and practices.

3.  Mudaraba NRB Savings Bond (MNSB) Scheme

Eligibility:  Only the Non-Resident Bangladeshis (NRBs) aged 18 years & above who have been serving abroad will be eligible to purchase this Mudaraba NRB Savings Bond. Family members of NRBs will also be allowed to purchase Mudaraba NRB Savings Bond with the fund remitted by their relatives serving/residing abroad.

Denominations: The Mudaraba NRB Savings Bond shall be of 6(six) denominations in Bangladeshi Currency i. e. i) Tk. 25,000.00 ii) Tk. 50,000.00 iii) Tk. 1,00,000.00 iv) Tk. 2,00,000.00 v) Tk. 5,00,000.00 and (vi) Tk. 10,00,000.00

Term: Term of the "Mudaraba NRB Savings Bond" are as under:

5 Years Mudaraba NRB Savings Bond.   Weitage   1.15

10 Years Mudaraba NRB Savings Bond  Weitage 1.30

Quard against MNSB: Quard of maximum 90% of the total outstanding amount against MNSB may be allowed as per existing norms applicable for QTDR.

(II)SME Information

Formation of SME Division

The Board in its emergent meeting held on 02.11.2005 approved a memo bearing No. 2005/155 with the following resolution:

“Resolved that the investment in Small Enterprise shall be made in accordance with the terms and conditions contained in the Annexed “Comprehensive Small Enterprise Investment Policy” and SME Division under Investment Wing shall be established with necessary restructuring and duly manning with adequate officials as proposed.”

In order to emphasize SME investment, to run its SME functions smoothly and to strengthen the SME activities of the bank, it has created a separate Division namely “Small and Medium Enterprise Division” in 2009.

(III)Locker Service

Terms & Condition: For obtaining a Locker at IBBL you must be an account holder with our Bank. Lockers can be allotted individually as well as jointly. The Locker holder is permitted to add or delete names from the list of persons who can operate the Locker and can have access to it. Loss of Key is to be immediately informed to the concerned Branch. For Schedule of Rentals, please contact the branch nearest to you. An individual (not minor), firms, limited company, associations, clubs, trusts, societies, etc may hire a locker.

Locker Service Available @

i.                     Head Office Complex Branch

ii.                    Farmgate Branch

iii.                  New market Branch

iv.                  Kawran Bazar Branch

v.                    Sylhet Branch

vi.                  Rajshai Branch

vii.                 Elephant Road

viii.               Cox's Bazar

ix.                  Anderkilla Branch

x.                    Chiringa Branch

xi.                  Gulshan Branch

xii.                 Dhanmondi Branch

xiii.               Uttara Branch

xiv.               VIP Road Branch

xv.                 Khulna Branch

xvi.               Agrabad Branch

xvii.              Chawkbazar

xviii.            Mouchak

xix.               CDA Avenue Branch

xx.                 Feni Branch