These are accounts that are maintained in Foreign Currencies including USD, GBP, EUR, ZAR, DKK and any other tradable currencies mainly tailored for individuals that receive foreign funds from abroad.
Deposits into these accounts are made by Telegraphic Transfers. FCDA holders other than exporters are allowed to retain 100% of their Forex receipts in the FCDA and convert the cash when the need arises. Exporters are permitted to retain 60% of export proceeds as determined by current regulations. Customers can open either Resident or Non Resident FCDAs.