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. Uttara 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. UBSL
• 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).