An offshore bank is a bank located outside the country of residence of the depositor, typically in a low tax jurisdiction or tax haven that provides financial and legal advantages. These advantages typically include: (i) greater privacy; (ii) low or no taxation; (iii) protection against local political or financial instability. It is completely a separate entity than the parent bank. The major functions of offshore bank are borrowing and lending in non- resident foreign currency, both in short, medium and long term. 

Bank Asia has commenced its Offshore Banking Unit (OBU) in January 2008 at Chittagong Export Processing Zone (CEPZ) under the approval from Bangladesh Bank (Central bank of Bangladesh) with a view to bring global opportunities inside the country for better customer service. The OBU has earned enormous confidence of the foreign investors due to its strong commitment and dedication over the years. As a result, IFC, ADB and many more DFIs, foreign banks and financial institutions have become our strategic business partner. We are providing all types of quality banking services to Type-A industrial units (100% Foreign owned) of the Export Processing Zones (EPZs) & Special Economic Zones (SEZs) in foreign currency. Apart from that, the OBU also provides other banking facilities like Import Bill Discounting (UPAS-Usance Payable at Sight), Export Bill Discounting and FC Term Loan to onshore local customers ensuring proper compliance and regulations. 

The OBU of Bank Asia has been able to make good customer relationship in this short period of time by ensuring maximum level of professionalism, excellent service and competitive pricing.

PRODUCTS/SERVICES

Deposit Products

OBU of Bank Asia provides the following types of Accounts

• Current Deposit
• Savings Deposit
• Short Notice Deposit (SND)
• Fixed Deposit

Retail Products

• Cash Foreign Currency deposit and withdrawal (subject to availability)
• Foreign currency demand draft issue
• Foreign currency cheque/draft collection/clearing in and outside Bangladesh
• Passport endorsement
• Outward remittance
• Inward remittance

Loans and Advances Products

OBU of Bank Asia is offering below loans and advances products:

• Term Loan (Short/Mid/Long)
• Overdraft
• Loan against Trust Receipt
• Packing Credit
• Lease Finance
• Syndication Loan
• Loan Syndication
• Agency related service
• ECC(Export Cash Credit)
• Time-Loan

Trade Finance Products

• Letter of Credit
• Shipping guarantee/NOC issue
• Documents Acceptance
• Export L/C advising
• Export documents negotiation
• Export documents sent for collection
• Letter of Guarantee (Bid Bond, Performance Bond, Guarantee against Advance Payment).
• Export L/C transfer and handling of export documents as transferring Bank as per UCP
• UPAS:
  • - OBU itself and
  • - Other bank.
• Add-confirmation.
• Assignment of proceeds.
• ECA Financing.

Contact Address

Bank Asia Ltd. 
Offshore Banking Unit, Zone Service Complex, CEPZ, Chittagong-4233 
Phone: +8809617905100 

Contact person's 
Name: Mr. Sucharit Barua 
E-mail: sucharit.barua@bankasia-bd.com 
Cell Number: +880-1713108856
Corporate Office for OBU related Service:
Rangs Tower, 4th Floor 
68, Purana Paltan, Dhaka-1000 
Phone: +88-02-47110062, 47110247, 47113867, 47110278, 47110173, 47115813 Ext. 402 

Contact person's 
Name: Mr. Muket Abdullah 
E-mail: muket.abdullah@bankasia-bd.com 
Cell Number: +880-1717323606 

Mr. Md. Ariful Islam 
E-mail: arif.islam@bankasia-bd.com 
Cell Number: +880-1715583771