Key Features & Benefits:

• 60%-70% of the Export receipt/earnings can be retained as Foreign currency balance in ERQ account as per BB policy.
• Foreign currency balance held in account can freely be used/remitted overseas for Bonafide Business purpose, like
  • Business visits abroad,
  • Participation in export fairs and seminars,
  • International alliance/software registration fee,
  • Domain registration/hosting fee,
  • Server maintenance fee & Account
  • verification/remittance test fee, etc.
• Easy conversion of foreign currency to local currency account
• Zero opening balance
• No account maintenance fee
• Free International prepaid card for first year
• Free access in the largest Air Lounge network of Bangladesh (Subject to maintaining a minimum balance of $2000 (USD) or equivalent FCY in the account)*

Linked Savings Account for BDT Part:

• Customer need to maintain a Savings Account for releasing BDT part of the export receipt/earnings.
• Customer’s existing BDT Savings account with MTB can be used for transferring BDT part.
• In case of opening BDT account, customer have to bring 2 more extra copies of passport size photograph and 1 more copy of nominee photograph.

Required Document for Releasing Fund:

• Relevant Agreement/contract/work order between service exporter and buyer a broad
• Related invoice
• Dully filled and signed Form-C (lCT) for the amount exceeding of USD 20,000 or equivalent FC.

Government Cash Incentives

• Government cash Incentive will be disbursed complying the prevailing government/Bangladesh Bank rules.

For details and updates regarding government cash incentive, customers are advised to communicate with account opening branch.

Circular Reference:

FE circular 05, February 12, 2024

FE circular 07. January 30, 2022

ডাক, টেলিযোগাযোগ ও তথ্যপ্রযুক্তি মন্ত্রণালয়” স্মারক নম্বর: ৫৬.০০.০০০০.০৫৮.২৮.০০১.২১.৪

*Defined number of free yearly access to International and Domestic Air Lounge

*60%-70% Export Fund retention quota is guided by GFET Section IV, Chapter 13 which may be changed/updated based on Circular, SRO, Circular letter issued by competent authority.

Note: For more updated information, please contact our Contact Centre at 16219 (from Bangladesh) and +880 96040 16219 (from overseas), or visit the nearest branch of Mutual Trust Bank PLC.

Last updated on *21 May 2024*

Eligibility:

• Nationality: Bangladeshi with Valid Identity Card
• Age: 18 Years and above
• Any individual involved with outsourcing business such as:
  • Information Technology Enabled Services (ITES) and Business Process Outsourcing (BPO) services
  • Computer and Information Technology consultancy and management services
  • Export of computer software including turn-key basis (customized) outsourcing,
  • Professional services, research and advisory services etc.

Documents required for Opening Account:

• NID – National Identity Card/ Smart National Identity Card
• Supporting Documents for confirming Address
• Passport sized photograph – 2 Copies
• Nominee photograph – 1 Copy
• Nominee’s NID/Birth Certificate/Passport
• A copy of recent agreement/Contract between the service exporter and the buyer/service importer abroad
• ETIN – Electronic Tax Identification Number
• Latest Acknowledgement Receipt of Income Tax Return/ Income Tax Certificate
• Membership Certificate of Bangladesh Association of Software and Information Services (BASIS) (Optional)
• Membership Certificate of Bangladesh Association of Contact Center and Outsourcing (BACCO) (Optional)