Non-Resident Investors Taka Account (NITA)

 


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Non-Resident Investors Taka Account (NITA)

NITA (Non-Resident Investors Taka Account) is a facility that is provided to non-resident individuals/institutions including non-resident Bangladeshi nationals who are interested in trading Bangladeshi securities against foreign exchange remitted from abroad.

 

Features

  • Non-resident portfolio investors have to open a Non-resident Investors Taka Account (NITA) with any authorized dealer in Bangladesh funding the purchase and easy repatriation of the sales and income proceeds.
  • ​Securities can be purchased only through a member/registered broker of the stock exchange. E.g. Commerce Bank Securities Ltd. (UBSL). However, public issues not yet listed in a stock exchange can be bought directly from the issuing company.
  • For the purpose of trading securities, investors need to open a security account/trading account with stock broker listed with the exchanges. E.g. CBSL
  • Funds from NITA can be used to purchase shares and securities listed in a stock exchange.
  • The balances in this account are freely remittable abroad in foreign exchange.

 

Eligibility

  • Non-Resident individuals (Foreigners and NRBs).
  • Foreign intuitions.
  • Institutions located abroad which are owned by NRBs.

 

Document Requirement

For Institutional Trading Account

  • Company NITA A/C number with custodial bank or A/C statement.
  • Board Resolution.
  • Memorandum and Articles of association.
  • Specimen signature of account operators.
  • Letter of Authorization.
  • A valid photo ID of the Managing Director.
  • Valid photo ID of Account Operator(s).

For Individual Trading Account

  • Account Opening Form and Signature Card duly filled up.
  • Individual NITA A/C Number with custodial bank or A/C statement.
  • Valid passport or national ID card photocopy.
  • Two copies passport size photograph of account holder.
  • One copy passport size photograph of authorized person(if any).

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