NITA 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. The Minimum Account opening balance is USD 100. Commercial Bank of Ceylon also provides Custodian Services for NITA account holders.

No debit card or cheque book is provided.

Custodial Service & NITA

• For non-resident investors who are willing to invest in Bangladesh’s capital market.
• Open a Non-resident Investors Taka Account (NITA) with Commercial Bank of Ceylon PLC (CBC).

What is NITA?

This is an account for channeling foreign currency to buy and sell shares and repatriate sale proceeds.

Who can open a NITA account?

Non-resident foreign nationals, non-resident Bangladeshis and foreign companies registered outside Bangladesh.

How to start?

• Open a NITA account and a Beneficiary Owner (BO) account with CBC
• Open a trading account with a brokerage house (If you do not have a preferred broker, we can recommend one)
• Open a foreign currency account with CBC and send in your remittance
• Transfer funds to the NITA account to invest in the share market through your broker

Custodial Service

• Maintain your Beneficiary Owner (BO) account with Central Depository Bangladesh Limited (CDBL) to facilitate the trading of shares.
• Hold your shares/stocks in safe custody.
• Act as an operator of your stock broker account according to your instructions.
• Collect and process right share applications upon request.
• Process buying and selling settlements with the nominated broker.

Benefits of Opening an Account with CBC

• Preferential conversion rate for inward and outward remittances
• Monitor your account from anywhere in the world through online banking facility
• Enjoy the lowest service charges

Documents Required to Open NITA

Personal Account

To open a personal account, you need to provide the following documents:

• 5 copies of a passport-size photograph of the applicant.
• A valid passport photocopy.
• 2 copies of a passport-size photograph of the nominee (attested by the applicant on the back of the photo).
• A passport photocopy of the nominee.
• A completed NITA Opening Form.
• A completed BO Account Opening Form.

Non-Personal Account

• 2 copies passport size photograph of directors
• 5 copies passport size photograph of signatories
• Valid passport photocopy of directors
• Valid passport photocopy of authorized signatories
• Information Related to Individual Form of Signatories
• Complete NITA Opening Form
• Complete BO Account Opening Form
• Copy of minutes of board resolution concerning opening & operation of NITA & BO Account (duly certified by Chairman/Company Secretary)
• Copy of Certificate of Incorporation attested by Bangladesh High Commission
• Copy of Memorandum & Article of Association attested by Bangladesh High Commission
• Certified copy of up-to-date list of directors from relevant registration authority in country of origin (attested by Bangladesh High Commission)

NITA Opening Form

• Information related to Individual
• Personal Account Opening
• Non Personal Account Opening
• Signature Card

NITA Opening Form

• BO Agreement
• BO’s Nominee Form
• BO Opening Form-02
• BO Details

BO Authorization for Nominated Broker

• BO Authorization of Nominated Broker

FATCA (US Citizen)

• FATCA.pdf

What is Mutual Fund Custody?

A mutual fund custodian is a trust company, bank, or similar financial institution that is responsible for holding and safeguarding the securities owned within a mutual fund.

Who appointed Custodian in Mutual Fund?

The custodian is appointed by the trustees to safeguard physical securities. Dematerialized securities are held in a depository through a depository participant. The custodian and depositories work under the instructions of the AMC, although under the overall direction of the trustees.

Benefits of Opening an Account with CBC

1. BO Opening Form
2. Account Opening Form
3. Approval from Trustee
4. A copy of the Registered Trust Deed of the Mutual Fund
5. Approval from BSEC (Bangladesh Securities and Exchange Commission)
6. A copy of the Investment Management Agreement of the Mutual Fund
7. Board Resolution with a list of signatories
8. NID (National ID) copy of all signatories
9. 2 copies of photographs of signatories (for each BO Form)

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