Investors can now open bank accounts through 4 dedicated platforms

Local and foreign investors from now will be able to open bank accounts through websites of four authorities dedicated to serving entrepreneurs of specialised economic arenas. 

The four are Bangladesh Investment Development Authority, Bangladesh Economic Zones Authority, Bangladesh Export Processing Zones Authority and Bangladesh High-Tech Park Authority.

Bangladesh Bank has enabled the service as part of efforts to strengthen a form of one-stop service for investors such that they can smoothly channel their funds without facing any hassle, said the banking regulator in a notice issued yesterday.

The websites, web portals and mobile applications of banks will have to be integrated with the websites of the four.

Investors will also be allowed to fill up their Know Your Client (KYC) forms through the virtual platforms.

Foreign investors in some cases face problems in opening accounts with local banks as they are not familiar with lenders of the country, said a central bank official.

The latest initiative helps resolve that problem, he said.