Staff Reporter :
Bangladesh Bank has announced changes to its policies regarding foreign investment in the capital market. Under the new rules, investments worth more than Tk 1 million by any foreign citizen or institution will have to be made through banking channels.
The Foreign Exchange Investment Department (FEID) of Bangladesh Bank announced this information in a notification on Monday (January 27).
It states that a declaration form must be submitted to the Foreign Investment Department of Bangladesh Bank within 14 days of issuing shares. The necessary information must be submitted to Bangladesh Bank.
There, the name and address of the shareholder, number of shares, date of issue, nominal value per share, share premium, reporting ID used online, total value of shares issued, amount of investment in foreign currency, date of bringing the investment to the country, name of the investor’s country must be mentioned in the report.
In addition, the account number suitable for transactions through SWIFT, e-mail as a medium of short message, signature must be mentioned.
Foreign investment must be confirmed before the share issue. The shareholder and the source and country of investment must be mentioned. Bangladesh Bank will scrutinize the report sent by the country’s authorized dealer (AD) bank and issue instructions within 14 days.
Bangladesh Bank has sent instructions in this regard to all foreign exchange dealers operating in the country.
