Billions of dollars in savings held by Bangladeshis working abroad could become a source of domestic investment if they have a simple, reliable way to bring the money into the country and put it to work.
The Non-Resident Convertible Taka Account (NRCTA) offers a potential route. It allows eligible overseas Bangladeshis to hold Taka deposits, use funds in Bangladesh and repatriate their principal and returns abroad.
Bangladesh Bank introduced NRCTAs through a circular on 23 June 2026 and broadened the facility through a revised circular on 8 October.
Eligible non-resident Bangladeshis can open accounts at authorised dealer branches and offshore banking units of scheduled banks. They can choose savings, current or fixed-deposit accounts.
Bangladeshis preparing to leave for overseas jobs can open accounts before departure without an initial deposit, subject to the rules. Non-residents visiting the country temporarily can also open them.
The wider access gives banks more ways to serve overseas customers and creates a formal channel for their savings to enter the domestic banking system.
More than a place to hold Taka
NRCTAs offer interest or profit at rates linked to market conditions and comparable to those on domestic Taka deposits. Both the principal and accumulated interest or profit can be freely repatriated abroad.
Account holders can use the money for legitimate payments in Bangladesh, transfer it to other eligible accounts and make permitted share investments through foreign direct investment or portfolio investment arrangements. Banks can also provide Taka loans against NRCTA deposits held as collateral, subject to applicable rules.
This makes the accounts useful for overseas Bangladeshis who want to save in the country, support their families, invest in local businesses or buy a home for personal use.
There are limits. Inward remittances credited to these accounts generally do not qualify for remittance incentives unless specifically allowed. Income from business activities or services performed in Bangladesh cannot be deposited into them.
Banks must explain these restrictions clearly. Customers need to know what they can deposit, how they can use their money and how easily they can take it abroad. Uncertainty on these basic questions could weaken confidence in the facility.
Lessons from India and Pakistan
India and Pakistan show how diaspora banking can move beyond simple deposit facilities by offering accessible accounts, clear repatriation rules and a range of investment options.
India’s Non-Resident External, Non-Resident Ordinary and Foreign Currency Non-Resident deposit schemes offer overseas Indians different ways to keep their money in the country.
Reserve Bank of India data show that outstanding non-resident Indian deposits reached approximately $165.96b at the end of June 2026. Non-Resident External deposits accounted for $98.40b, Non-Resident Ordinary deposits $33.53b and Foreign Currency Non-Resident deposits $34.04b. Net inflows during April–June 2026 stood at approximately $2.78b.
Pakistan’s Roshan Digital Account programme shows how diaspora banking can also attract investment in financial products.
By September 2026, the programme had received cumulative funds of $14.157b through 975,602 accounts, according to the State Bank of Pakistan. Of this amount, $2.146b had been repatriated and $8.937b used locally, leaving a net repatriable liability of $3.073b.
The investment figures also show the appeal of offering different products. By September 2026, outstanding investments in conventional Naya Pakistan Certificates stood at $740 million, while Islamic Naya Pakistan Certificates accounted for $1.375b. These are investment balances, not additional inflows.
The figures from India and Pakistan are not directly comparable. India’s data cover outstanding deposits and quarterly net inflows, while Pakistan’s figures show cumulative programme receipts and their subsequent use.
But both offer a clear lesson for Bangladesh: overseas savings can become a source of domestic investment when people have easy access to accounts, confidence that they can take their money abroad and a choice of products suited to their needs.
The writer is the Head of Brand and Communication at Islami Bank Bangladesh PLC and an ex-student of International Relations at Dhaka University.
Views expressed are solely those of the author.
