Residents of Bangladesh are generally restricted from acquiring or holding foreign assets without approval under the foreign exchange regime administered by Bangladesh Bank, subject to limited exceptions, for example for certain foreign currency held in permitted accounts or assets acquired while non-resident. Outward investment by residents typically needs specific permission. Holding undisclosed foreign assets can create foreign exchange, tax and anti-money laundering exposure. We review the client's history, residence status and assets, explain the lawful options, and advise on regularising positions where that is possible. Wealth management advice must start from the legal position, not from what is commercially attractive.

Non-resident Bangladeshis can use foreign currency accounts and specific taka accounts designed for non-residents, invest in certain government savings instruments and bonds offered to expatriates, buy listed securities through designated accounts, and acquire property in Bangladesh. Each channel has its own eligibility rules, tax treatment and repatriation conditions, and these change from time to time through Bangladesh Bank circulars and the Finance Act. We advise on the most suitable route for the client's goals and residence, and on documenting investments so that income and capital can later be repatriated. Mixing channels without records causes later problems.

A bank's duties come from the account contract, banking law and regulations, and general law. They include following the customer's mandate, keeping the customer's affairs confidential, subject to legal exceptions, and exercising reasonable care in carrying out instructions. Bangladesh Bank's customer protection guidance adds expectations about disclosure, fair treatment and complaint handling. Where a bank also sells investment products, additional conduct rules may apply. We review the specific relationship and documents to identify the duties owed and whether a breach has caused loss that can be recovered. Relationship managers' advice and written communications are often key evidence.

Portfolio managers in Bangladesh must be registered with BSEC and follow its rules on capital, conduct, client agreements, segregation of client assets, reporting and conflicts of interest. A discretionary mandate allows the manager to make investment decisions within agreed limits, so the investment management agreement, risk profile and investment policy are central. Clients should receive regular statements and be able to see how fees are calculated. We advise managers on compliance and documentation, and advise clients when they believe a manager has acted outside the mandate or negligently. Wealth management clients should keep copies of every mandate.

Banks may freeze or restrict accounts because of a court or authority order, an inquiry by the BFIU or another agency, incomplete KYC information, suspected fraud, a dispute between joint holders or the death of an account holder. The first step is to find out the basis, which the bank may not always be able to disclose fully. Providing missing information often resolves KYC-related freezes. Where a freeze follows an order, the remedy lies against that order. We act quickly to identify the cause, engage with the bank and pursue legal remedies where the freeze is unjustified.

The Personal Data Protection Act 2026 introduces statutory duties for organisations that collect and use personal data, which includes banks, portfolio managers and family offices handling detailed client information. Firms need a lawful basis for processing, clear notices, security measures, retention limits and procedures for responding to individuals' requests, and must take care when transferring data to group companies or service providers abroad. Implementing rules and guidance will shape practical requirements. We help wealth management businesses review their data flows and update contracts, notices and internal policies. Early preparation will reduce cost and disruption.

It depends on the account terms, the source of funds, the intention of the deceased and the applicable personal law. A nominee or surviving joint holder may be entitled to receive the funds from the bank, but that does not always mean they own them beneficially, and other heirs may have claims under inheritance law. Banks often require a succession certificate where entitlement is unclear or disputed. We advise heirs, nominees and banks on entitlement, the documents needed for release and the resolution of competing claims through settlement or court proceedings. Clear nominations made in life reduce disputes.

Individual taxpayers above certain thresholds must file a statement of assets and liabilities with their annual return, showing their own wealth and, in some cases, that of family members. Inconsistencies between the wealth statement, bank records and property registrations are a common trigger for tax inquiries. Assets held through companies or trusts must be reflected correctly. Requirements change through the Finance Act, so current forms and thresholds should be checked yearly. We work with the client's tax advisers so that structures and tax reporting remain consistent. Valuations and ownership papers should be kept for each declared asset.