Step 3: Open a Bank Account with Export Facilities

An export-oriented bank account is fundamentally different from a regular current account — it must be opened with an Authorised Dealer (AD) bank, which is a commercial bank licensed by Bangladesh Bank to handle foreign exchange transactions. There are approximately 60 AD-licensed banks in Bangladesh, but for exporters the most experienced are: Sonali Bank, Janata Bank, Agrani Bank, Rupali Bank (state-owned, strong in government incentives), Islami Bank Bangladesh, City Bank, BRAC Bank, Mutual Trust Bank, EBL, MTB (private, strong in trade finance), and Standard Chartered, HSBC, Citibank (foreign, premium service for large exporters).

The documents required to open an export bank account are: Certificate of Incorporation, MoA & AoA, TIN & BIN certificates, trade license, board resolution authorising the account signatories, KYC documents for all directors and signatories, and the company's registered address proof. Most banks also require an initial deposit of BDT 10,000-50,000.

Once the account is opened, you need to apply for two specific facilities: (a) Foreign Currency (FC) account — allows you to receive export proceeds in USD/EUR/GBP and convert to BDT at favourable rates, and (b) Export Retention Quota — allows you to keep up to 60% of export earnings in foreign currency for use in importing raw materials, paying foreign suppliers, or overseas marketing. The retention quota varies by exporter category: 50% for silver-tier, 60% for gold/diamond-tier.

You also need to sign a 'CIB (Credit Information Bureau) clearance' authorisation and submit Form EE-2 (exporter registration with bank) — this enables the bank to process your future cash incentive claims. The bank will issue you a 'Bank Certificate' which is required for the next step (ERC application). Total time to open and activate all facilities: 7-14 days.