A comparative study of offshore and domestic bank account opening procedures: evidence from FI & OBU of UCB PLC

Abstract

This internship report presents a comparative study of Offshore and Domestic Bank Account Opening Procedures with reference to the Financial Institutions and Offshore Banking Unit of United Commercial Bank PLC. The study pivots to highlight how the regulatory framework affects procedural differences between the two account opening processes, along with compliance and risk exposure. Qualitative Content Analysis (QCA) has been approached for this report by collecting insights from published circulars by Bangladesh Bank, Foreign Exchange Policy Department. The findings from this research prevails divergence across the regulatory structure and documentation adherence for the account openings. Offshore account is more regulatory intense than domestic account opening procedure. The analysis suggests that United Commercial Bank PLC follows a structured and documentation-heavy approach to onboarding offshore clients. The organization ensures compliance rigidity.