SBAC Offshore Banking

Offshore Banking Unit

SBAC Bank Off-shore banking Unit (OBU) is established having licensed from Bangladesh Bank with a view to fulfill the banking requirement of Foreign Nationals/Firms/ Companies, resident/non-resident individuals/ enterprises customers in EPZs, PEPZs, EZs and Hi-tech Parks in Bangladesh. SBAC Bank Ltd has commenced the operation of its Off-Shore Banking Units (OBU) located at International Division, Head Office, Dhaka since 2020. Off-shore Banking refers to international banking involving non-residents’ foreign currency-denominated assets and liabilities. Off-shore Banking Units conduct their deposit taking and lending activities with eligible (both foreign/local) investors/borrowers without conflict with the domestic fiscal and monetary set up and independent of the local commercial banking system as set by the regulator.
The concept of offshore banking in Bangladesh is not new and getting popularity among the business people due to its advantages to unlock the international financial settlements.
Offshore banking can play an essential role both in domestic and international territory. The Offshore banking deals with the currency other than the local currency.
SBAC Bank Off-shore Banking Unit has already earned satisfactory confidence of the stakeholders/partners/customers due to its strong commitment and dedication. Currently, the Unit has been providing offshore banking services to our existing tested customers of our AD Branches under UPAS discounting facility/export bill discounting and our OBU is fully ready to serve any other eligible customers.
Though the country’s offshore banking market is dominated by the Foreign Banks/First-Second Generation Banks, SBAC Bank has been able to make its presence felt by attracting a good number of customers in a short period of time through effective marketing and competitive pricing of its offshore banking products and ensuring highest level of professionalism and excellent customer services backed by quality manpower and technological supports.

Our Off-Shore Banking Unit offers

  • We mobilize deposit in Foreign Currency from different renowned Banks at home and abroad.
  • Bills Purchasing/ Discounting.
  • Any other financial services allowed by the Bangladesh Bank from time to time.
Offshore Banking have been playing a pivotal role in the economic expansion of the country by arranging low cost financing compared to domestic currency lending. As most of the Banks are cutting interest to lure the prime/top rated customers to invest, we, SBAC OBU may take advantage of the situation by being able to low cost lending through sourcing low cost fund while domestic rate is much higher. SBAC OBU is expected to contribute largely to the growth our Bank with the highest level of professionalism and excellent customer services.