Eastern Bank launches offshore banking deposit programme

Eastern Bank today launched an account onboarding and deposit programme through an offshore banking channel for non-resident Bangladeshis, foreign nationals and corporate customers from all over the world.

Earnings from the deposits will get tax exemptions, the bank said in a press release.

Ali Reza Iftekhar, managing director of the bank, launched the programme at a ceremony held at the bank's head office in the capital's Gulshan.

''Off-shore banking facilities will enable Bangladeshi banks to widen their horizon by bringing into the fold expat communities and corporates abroad. It will eventually contribute positively to the country's foreign exchange reserve and forex liquidity," Iftekhar said.

The bank has taken initiatives to on-board customers from across the globe through a web-based portal, ensuring security as well as enhancing their banking experience.

Senior officials of the bank were also present.