Business banking in Bangladesh

How business banking works in Bangladesh

Operating a company in Bangladesh requires a current account with a scheduled bank that holds a license from the government under the Bank Company Act 1991. The current account is the everyday business account used for collections, supplier payments, payroll and tax. Banks supervised by Bangladesh Bank, the central bank, range from large private commercial banks to state owned banks and foreign banks present in the market. Account opening is documentary and many banks still ask for an introducer who already holds an account. As of 19 June 2026.

Who can open a business account

A registered private limited company, a partnership firm, a sole proprietorship and a branch or liaison office can each open an account, with the document set depending on the legal form. A sole proprietor opens a current account in the business name using a trade license and tax identification, while a company opens in the entity name and authorises its signatories by board resolution. Foreign owned entities can open accounts once a Bangladesh company is formed through the Registrar of Joint Stock Companies and Firms, or once a branch or liaison office is approved by the Bangladesh Investment Development Authority and Bangladesh Bank. Confirm the current list with the bank.

Traditional banks compared with neobanks

Bangladesh is served mainly by traditional banks with branch networks, agent banking and mobile apps rather than by standalone business neobanks. Mobile financial services such as bKash and Nagad are widely used for collections and payouts but sit alongside a bank account rather than replacing a company current account. For receiving foreign currency from clients and platforms abroad, cross border providers such as Payoneer are used by freelancers and online sellers, while Wise Business is not available to Bangladesh based businesses as of 19 June 2026. Verify the current position with each provider.

Requirements and documents

What you need depends on your legal form, and business or foreign accounts can require introducers, permits or compliance letters. Verify with the provider

• A completed account opening form signed by the authorised signatories, a trade license, and a tax identification number for the business, with national identity documents and attested photographs for each signatory.
• For a company, certified copies of the Memorandum and Articles of Association and the Certificate of Incorporation from the Registrar of Joint Stock Companies and Firms, plus a board resolution naming the signatories with specimen signatures.
• A Personal Information Form and identification for each shareholder and beneficial owner, and for a branch or liaison office the BIDA approval and Bangladesh Bank permission. Verify the current list with the provider.

How to open an account

1. Choose your legal form and the type of bank, a large branch network for cash and lending or a foreign bank for trade and foreign currency, and check whether your activity needs prior Bangladesh Bank or BIDA permission.
2. Gather your trade license, tax identification, certified incorporation documents and a board resolution, then apply at a branch and complete identity verification, providing an introducer if the bank asks for one.
3. Fund the account, meet any minimum deposit, and set up cheque books, cards, online banking and foreign currency or cross border receiving if you need them. Confirm current steps with the provider.