Bangladesh Bank Mandates Updated Work Permits for Foreign Bank Accounts

Bangladesh Bank has officially made it compulsory for foreign nationals to provide an updated work permit when opening or maintaining bank accounts in the country. The central bank issued this crucial regulatory directive on August 18 through its Banking Regulation and Policy Department-1, outlining strict compliance measures for all scheduled banks operating within the financial sector.

According to the official circular letter released by the monetary authority, financial institutions must rigorously verify that any foreign national seeking to open a bank account possesses a valid and current work permit. This measure is designed to ensure proper regulatory oversight and compliance regarding foreign employment documentation within the national banking system.

The newly introduced banking directive bears the official signature of Gazi Md. Mahfuzul Islam, who serves as the director at Bangladesh Bank. His endorsement validates the procedural change, making the verification of updated work permits an essential prerequisite for foreign account holders across all commercial banks in the country.

This central bank action comes in direct alignment with previous governmental administrative steps concerning foreign personnel. Specifically, the Ministry of Home Affairs previously issued a circular on April 29, 2026, which formally clarified and regulated the proper procedures for foreign nationals working under the 'A3' visa category to receive their salaries and allowances strictly through formal banking channels.

By linking these financial and immigration protocols, the latest instructions from Bangladesh Bank reinforce coordination among key state institutions. The regulatory framework now relies on close cooperation involving Bangladesh Bank, the Home Ministry, and the Bangladesh Investment Development Authority (BIDA) to ensure transparency and legal compliance for all foreign employment and monetary transactions.