Foreign Exchange and Foreign Trade in Al Arafah Islami Bank Ltd

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Foreign Exchange and Foreign Trade

in

Al-Arafah Islami Bank Limited

Submitted by

WWWASSI!"#E"T$%I"T&%#

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' Introduction

This internship was to my job exposure and provided me with learning

experience and knowledge in several areas. I was not only learned about the

activities and operations of correspondent Bank, but also gathered some

knowledge about the basic business of the banking in first one month for the

purpose to build up my career.

It is possible to gather theoretical knowledge passing through books but it is

insufficient to acquire practical experience. e collect data to know about

unknown factors, we can have accurate knowledge about the factors by

analy!ing data.




"s a student of finance department in "sian #niversity of Bangladesh, I have

earned theoretical knowledge, which is not exactly same with the practical

business environment. The company internship program applied by the faculty

of Business study helps us to have practical experience and it$s reporting also.

Through this internship program, I come to know about the organi!ation

structure, problems, prospects and operational procedures of "%&"'"(")

I*%"+I Bank %td. *o, it is impossible to deny the importance of internship of

program.




( %rigin of the re)ort

The report entitled -eneral Banking, Investment and foreign xchange

/peration of "l&"rafah Islami Bank %imited what has been prepared for the

completion of the +.B." of the 0ept. of Business, "sian #niversity of

Bangladesh.

* %b+ecti,es of the re)ort

The objective of practical orientation is to familiari!e with the practical +arket

and to familiari!e with the practical market and to compare it with the Business

theories that we have learnt.

The main ob+ecti,es of the )ractical orientation are as follo1

To familiari!e with practical job environment.

To have and exposure on the financial institution such as banking

environment of Bangladesh.

To gain experience on different functions of the different department of

the Bank.




To observe Banker& customer relationship.

To relate the theories of Banking with the practical Banking.

To examine the profitability and productivity of the Bank.

. #ethodology

#sing both of the two sources 2 primary and secondary has collected data.

The )rimary sources of data/

(ace to face conversation with the Bank officers and staffs.

0irect conversation with the clients.

(ile study of different sections.

0eskwork1 during my practical orientation I worked in head officer and

3oydebpur 4howrata Branch -a!ipur.

In head officer I worked in foreign and credit division. In 3oydebpur

4howrasta Branch I worked in the *ection.

The secondary sources of data/

"nnual 'eport of "%&"'"(") I*%"+I Bank %td.

0eferent paper of "%&"'"(") I*%"+I Bank.

#npublished data received from the head office and branch.

0ifferent text books.




I tried my best to discuss my subject in analytical way. I also have represented

some graphs and tables, which show performance of "%&"'"(") I*%"+I

Bank %td. Based on financial data. To collect necessary information I used

questionnaire method. I have given some recommendations to solve the

problems of "%&"'"(") I*%"+I Bank %td. "s per my own thought.

0 Sco)e

The reports cover the Banking service to the customers especially the customer

service of "%&"'"(") I*%"+I Bank %td. This report has been prepared

though extensive discussion with Bank employees and also with the customers.

The study was kept %td. To the head office and 3oydebpur 4howrasta Branch of

"%&"'"(") I*%"+I Bank. This Bank 0eal with all type of general Banking

operations foreign exchange and credit operations according to the rules and

regulations provided by the Bangladesh Bank as well as according to Islami

*harih.




1 Limitations

The main constraint of the study was shortage of time.

The constraint of the study was insufficiency of information, which is

highly required for the study. "%&"'"(") I*%"+I Bank is a new

unable to provide some formatted documents and publications for the

study.

*ince the Bank personnel were very busy, they failed to given me enough

time to complete the repot.

The clients were very busy, so they were unable to give me much time for

interview.

I carried out such a study for the first time. *o, inexperience is one of the

main factors that constituted the limitation of the study.

It is also a limitation that only 566 client$s opinion takes as a sample of

whole Bank, which may not represent the overall of real condition of the

Bank.




B Slogan of The Al-Arafah Islami Bank/

4 Local Bank !lobal "etork5 The orld "%&"'"(") I*%"+I Bank

implies the meaning of its operation. Through it is a new type of Bank in

BangladeshA it is familiar with so many countries in the world such as xport

Import Bank of #nited states, xport Import Bank of 3apan. 0espite it is a local

Banking. To achieve the desire goal, it has intention to pursuit of excellence at

stages with acclimate of continuous improvement. Because it believes, the line

of excellence is never ending.

& 6ey Function of the Al-Arafah Islami Bank/

%ike other commercial Banks "%&"'"(") I*%"+I Bank performs all

traditional Banking business including introduction of a wide range of caving

and credit products, rattail Banking and professional management. But the "%&

"'"(") I*%"+I Bank %td, emphasi!e its functions in export and import

trade handling and financing of export oriented industrious and reduces in the

balance in the balance of payment of the country. Its also have to maintain

Islami *harih.




''' Board of 7irectors

0irector

+r. "l&)ajj 9a!i +d. +ofi!ur 'aham

0irector

"l&)ajj 0r. 0. +. "manul )aque

0irector

+r. "l&)ajj +ir "hmed *owdagar

0irector

"l&)ajj "bdul +alek +ollah

0irector

"l&)ajj "..+.*hamsul "lam

0irector

"l&)ajj +ohammad )aroon

0irector

"l&)ajj +r. )arun 2ar& 'ashid 9han

0irector

+r. +d. "bdullah "l ahir *hapan


Chairman

Mr. Badiur Rahman



0irector

"l&)ajj +r. Ca!mul "hsan 9haked

0irector

"l&)ajj Badsha +eah

0irector

0r. Bahauddin +ohammad Dousuf

+anaging 0irector

+." *amad *heikh

4ompany *ecretary




''( List of Executi,e 8 %fficers of 9oydeb)ur &horasta Branch

*% "ame of the %fficials 7esignations

5 #d "asim Ahmed kamal $% 8 #anager

@ +d. +ohiuddin *harifi *./

E +d. +afo!ul )aque /fficer

F +d. "bdul %atif /fficer

= +d. +o!ahid )ossain /fficer

; +d. Ceamatul Islam /fficer

> +d. 9alilur 'ahman /fficer

: +d. "bdur 'a!!ak 3unior /fficer

< +d. +ossarof )ossain 3unior /fficer

56 +d. "bdul )akim 3unior /fficer

55 +d. "tiqur 'ahman 7 +onshi 8 3unior /fficer

5@ +d. %alon *heik 3unior /fficer

5E +d. 3abed +orshed "sst. /fficer

5F +d. )umayon 9abir Talukder "sst. /fficer

5= "bu "hmed +.4.-&@

5; +d. Tan!id 0river

5> +d. )abibulla -.-

5: +d. )abibur 'ahman Tea boy




: &ustomers Ser,ice and Automation/

To err is human and forgiveness divineG is a proverb, the Bank believes, the

customers will not accept, Because for a service they pay for, they want it 566H

defect free. *o, improvement of the customer service should always be their

motto. "ltered expectoration of the customers has shifted the focus from

resource base productivity to value base productivity.

To operate in the globali!e environment, the Bank$s future plan is to equity all

the units if the Bank with modern technology, they already started Telex, (ax,

& mail, /n&line and 4omputer network. (or the service of its customers round

the clock, it is thinking now installing "T+ at suitable place in 0haka and

others important cities in the country.

'; %ther %)erations/

• The Bank does all traditional commercial Banking business including

Islamic Banking service in *elective branches.

• 0eposits, which are the lifeblood of the bank, are amount other.

• In capital market operations, it is engaged in share and securities

business, +utual fund management and brokerage house activities.




• Bank is poised to extend %4 correspondent relation and nostril accounts

with leading Banks all over the world.

'' Identity of Al-Arafah Islami Bank Ltd In A Short/

'egistered name Al-Arafah Islami Bank Ltd

'egistered )ead /ffice eoples Tower

;&56 floor

E; 0ilkusha 4?" , +otijheel

0haka &5666

hone& >@E@==&>, <=;:66>, <=;<E=E

Telex1 ;F@=@> "%&"'"(") I*%"+I)/ B3

(ax1 ::6&@&<=;<E=E

mail1 "l&"rafah Jbangla.net

*I(T

0ate of incorporation 3une 5:,5<<=

Inauguration of first branch *eptember @>, 5<<=


mailto:[email protected]

mailto:[email protected]



"uthori!ed capital @=6.66 crore

aid up capital :=.F@ crore

'eserve =<.<>

'( !eneral Banking

". Introduction

B. "ccounts opening section

4. 4ash section

0. 0eposit section

. 'emittance section

(. "ccounts section

". Introduction/

The general Banking 0epartment doses the most important and basic of

the Banks. "ll other departments are liked with this departments are liked with

this department. It also plays a vital role in deposit mobili!ation of the branch.

"%&"'"(") I*%"+I Bank rovides different types of accounts locker

facilities and special types of saving *cheme under -eneral Banking. (or proper




function and excellent customer services this department is divided into various

sections namely as follow1

"ccounts opening sections

4ash sections.

0eposit sections.

Bill and clearing sections.

(0' sections.

"ccounting sections.

B. Accounts %)ening Section

This section deals with opening of different types of accounts. It is also deals

with issuing of books and different deposit books to the different accounts

openers. " customer can open different types of accounts through this

department such as1

"l&adia 4urrent account.

+udaraba *aving "ccount.

+udaraba *hort Cotice "ccuont.

+udaraba +onthly Installment term 0eposit.

+udaraba +onthly saving *cheme .




+udaraba 0ouble benefit *cheme.

+udaraba 9otopati deposit *cheme.

+udaraba +illionaire deposit *cheme.

+udaraba pension *cheme.

+udaraba lakha pathy deposit *cheme.

(oreign currency 0eposit *cheme.

"l&"rafah *aving Bond.

4ash wakaf deposit *cheme.

"l& "rafah monthly )ajj deposit.

<e=uirements of o)ening an account/

There are some requirements that have to be completed for opening an "ccount.




&urrent Account/

4urrent "ccount is an account where the account holders can make numerous

transactions with in a working day. There is no restriction on the number and the

amount of with drawls from the current within availability of funds.

"s the Banker is under the obligation to repay this deposit on demand on

interest is paid in this account. -enerally, current "ccount is opened for

Business and trades for easy transaction. But a person can open 40 "ccount for

special purpose. 'equirement for the different types of "ccounts holders are

discussed.

i $ro)rietorshi) firm/

There is a different account opening from for the proprietorship firm by the "%&

"'"(") I*%"+I Bank %td. (or this account, a customer must need to submit

the papers with the from1

hotograph.

*ignature and 'ubber& stamp seal of the client.

"nd introducer of "%&"'"(") I*%"+I Bank %td. Introducer must be

account holder.

4hairmen certificate of the proprietor.




Trade license.

Koter I0 4ard

4urrent deposit account is opened with neither a sum of nor less than 5666. The

introducer must attest photographs.

ii $artnershi) firm/

There is a different account opening from for the proprietorship firm.

Interaction for running an account is giving in this.

The following documents are required to open this type of accounts.

hotograph.

*ignature and 'ubber&stamp seal of the service receiver.

4hairman certificate of the partners.

"nd introducer of "%&"'"(") I*%"+I %td. Introducer must be 40

"ccount holder.

Trade license.

artnership deed registered by Cotary public.

artnership letter along with address and signature.

Koter Id 4ard.




4urrent deposit "ccount is opened with neither a sum of nor less than Tk. @666.

The photographs must attested by the introducer.




iii Limited com)any/

" separate account from is used for limited company. There are two kinds of

limited company 2 public company and private limited company. The Bank

always takes precautions for opening this type of accounts. *everal documents

are submitted by the clients, which should be checked carefully by the Bank to

be legally in a safe position. 'equirements to open an account are as follows1

iii a $ri,ate limited com)any/

hotograph.

*ignature and 'ubber& stamp of the client.

4hairman certificate of the owner.

"n introducer of "%&"'"(") I*%"+I Bank of Bangladesh %td.

Introducer must be 40 account holder.

Trade license

4ertified copy of memorandum and articles of association.

Incorporation 4ertificate.

+embership 4ertificate.

+emorandum.




iii b $ublic limited com)any/

hotograph.

*ignature and 'ubber& stump seal of the client.

4hairman certificate of the directors.

"n introducer of "%&"'"(") I*%"+I Bank %td. Introducer must be

40 account holder.

Trade license.

4ertificate of Incorporation.

4ertificate copy of memorandum and articles of association.

%ist of directors as per return of joint stock 4ompany with signature.

4ertificate of commencement of business.

i, &lub society/

The following document duly completed shall be obtained from the customer

at the time of current deposit account of

"ssociation?4lub?4harity?Trust?*ociety etc.

hotograph.

*ignature and 'ubber&stamp seal of the client.




"n introducer of "%&"'"(") I*%"+I Bank %td. Introducer must be

40 account holder.

4hairman certificate of the client.

4ertified true copy of constitution?By&laws?Trust deed?+emorandum and

articles of association.

4ertified of registration of the association?4lub?4harity?Trust?*ociety

7(or inspection and returned only certified.8

%ist of members of the -overning body?xecutive committee of the

"ssociation ?4lub?4harity?Trust?*ociety with their address.

xact of resolution of the "ssociation?4lub?4harity?Trust?*ociety for

opening the account and authori!ation for its operation duly certified by

the chairman sectary of the "ssociation?4lub?4harity ? Trust? *ociety. tc.




> Sa,ing Account ?indi,idual@+oint/

*aving account 7*B8 is meant for the people of the lower and middle classes

who wish to save part of their income to meet future needs and intended to earn

an income from their saving. (or opening of this type of accounts the following

requirements are necessary1

hotographs attested by the introducer.

4hairman certificate of the account holder.

"n introducer of "%&"'"(") I*%"+I Bank %td. Introducer must be 40

account holder.

(or joint of saving deposit and short&term deposit 7*T08 are as follows.

*%. C/ Came of "ccount Interest rate

5 *aving 0eposit ;H

@ *hort term 0eposit7*C08 FH




,i #onthly Sa,ing Scheme ?#SS/

It is project of "%&"'"(") I*%"+I Bank, which is a *cheme like 0*.

The slogan of this *cheme is securing your future with case. " small saving to

day will provide you comfort tomorrow.G

,ii Sa,ing )eriod and monthly installment rate/

The saving period is for=, :, 56, or 5@ years. +onthly installment rate is Tk.

=66, Tk. @666, or Tk. =666.

,iii #onthly installment de)osit/

The saving amount is to be deposit with in the 56th of every month. In

case of holidays the deposit amount is to be made on the following date.

The deposits may also be made in advance.

The depositor instruction can be giving to transfer the monthly deposit in

the *cheme$s account.




In case the deposit falls to make the monthly installment in time there

will be no charge added with the following month$s installment.

ix Withdraal

-enerally, withdrawal is not advised before a five& year term, but if it is

withdrawn before the above term, then interest will be paid saving rate.)owever, no interest will be paid if the deposit is withdrawn within one

year of opening the account.

Incase the depositor to withdraw between the =,:,56, or 5@ year period

then full interest will be paid for a completed term and saving rate will

applicable for the fractional period.

x Loan ad,antage/

"fter E years of saving in this *cheme the depositor 7in an adult8 is eligible

for a loan up to :6H of his deposited amount. In that case, interest rates on the

loan will be applicable as per prevailing rate at that time.

<easons for dis=ualification from this Scheme/

If the depositor fails to pay three installments in a raw, then he will be

disqualified from this *cheme and interest will be applicable as

mentioned in withdrawal clause.




If the depositor fails to five installments in a raw after completion of =

years term then the Bank reserve the right to close the account and

interest will be paid as mentioned in withdrawal clause.

In case of death of the depositor the *cheme will case to function. The

amount will be handed over to the nominee of the deceased depositor. In

case of absence of the nominee the bank will hand over the accumulated

amount to the successor of the deceased.

<ule/

" from has to be filled at the time of opening the account. C/ introduction is

needed but attested photographs are advised.

The depositor can select any of the installment accounts. hich can not be

subsequently changedL

Incase of minors the guardians may open and supervise the account in his

favors.




" single person can open more then one account for saving under several

installment rates.

The accumulated deposit with interest will be returned within one month of

completion of a term.

The depositor should notify the bank immediately of any change of address.

The government tax will be deducted from the interest accumulated in this

*cheme.

If necessary, at the request of the depositor, the *cheme can be transferred to

different branches of the same bank.

The bank reserves the right to change the rules and regulations of the

*chemes as and when deemed necessary.

xi #onthly Installment Statement &harge/




Dears +onthly

Installment

7Tk8

+onthly

Installment

7Tk8

+onthly

Installment

7Tk8

+onthly

Installment

7Tk8

=66 5666 @666 =666

= E<6F5 >:6:@ 5=;5;F E<6F55

: >F@6@ 5F:F6F @<;:6< >F@6@F

56 56=6<= @565<6 F@6E:6 56=6<=@

5@ 5FFF;5 @::<@E =>>:F> 5FFF;5:




xii #onthly Income Scheme ?Steady #oney

Bangladesh is a developing country. But in our country opportunity of

investment is very low. eople of our country always try to save their excess

money and there looking for where they can deposit the money. "ccording to

their demand "%&"'"(") I*%"+I Bank started this money income *cheme.

" monthly income *cheme their really makes good sense. "n investment for

steady return.

xiii 3ighest of the Scheme/

+inimum deposit Tk. @,E<=66.

)igher +onthly Income for higher deposits.

The *cheme is for three 2 year period.

+onthly income will be created to the depositor$s account on the fifth of

each month.

"fter three years the "ccount holder would received Tk 56666666.66

xi, %b+ecti,es of the Scheme

"n account is to be opined by filling up a form.




The Bank provides to the customer a deposit receipt after opening the

account. This receipt is non& transferable.

If the deposit is withdrawn before a five years term, then saving

interest rate will be applicable and paid to the depositor. )owever, no

interest will be paid if the deposit is withdrawn within one year of

opening the account and monthly income paid the customer will be

adjusted from the principal amount.

xv. #uduraba #illionaire 7e)osit Scheme&

Dear +onthly 0eposit

"mount

+atured "mt.

E @E<=6 5666666

F 5;<=6 5666666

= 5@>=6 5666666

; <<=6 5666666

> :666 5666666

56 F;66 5666666

5@ EEF= 5666666

5= @5>6 5666666

@6 55=6 5666666




xvi. #uduraba Lakha)ati 7e)osit Scheme&


"mount

+atured "mt.

E @E>= 566666

= 5@>= 566666

: ;>6 566666

56 F;6 566666

5@ EE= 566666

xvii. #uduraba 6oti)oti 7e)osit Scheme&


"mount

+atured "mt.

E @E<=66 56666666

F 5;<=66 56666666

= 5@>=66 56666666

; <<=66 56666666

> :6666 56666666

56 F;666 56666666

5@ EEF=6 56666666

5= @5F:= 56666666

5: 5FEE6 56666666

@6 55566 56666666

'* &ash Section




4ash section of any Bank plays a vital role in general banking

procedure. Because it deals with the most liquid assets. There are several

counter works simultaneously in cash section of "%&"'"(") I*%"+I Bank

3oydebpur 4howrasta branch. There are also some electronic counting machines

by which a huge amount of case money can be counted within a few minutes.

'*a &ash recei,ing )rocedure/

The work of case receiving counter is examining deposit slips. 0epositor user

the prescribed deposit slip supplied by the Bank for deposit cash, draft, cheque,

pay order etc.

In all types of deposits teller must cheek the following things1

The slip has been properly filled up.

The title of the account and its umber.

The amount in figure and in words is same.

Instrument signed by the depositor.

"fter checking all these things the teller will accept the cash, cheque, draft, pay

order etc. "gainst deposit slip, the teller will please the cash in the drawer

account to denominations. The teller will place signature affix cash receipt,




rubber stamp sealG and record in the cash received register book against the

account number, at the end of this procedure, the cash officer passes the

deposits slip to the computer section for posting purpose and returns the

customer$s copy.

Accounting treatment/

0ate articulars 0ebit 4redit7Tk.84ash "?4 0r.

To 4ustomer$s "?4

Mxx Mxx

'*b &ash )ayment )rocedures

$recaution/

In order to safeguard the position the paying Banker has to observe the

following precaution before honoring the cheque1

" cheque must looked whether it is an opened or closed cheque .

The paying officer should see whether the cheque is drowning on his

branch.

)e must see if the cheque is postdated ." letter must not pay post& dated

cheque.




The officer must carefully see the apparent tenor of the cheque. If it is

mutilated of materially altered then the officer must not honor it.

The offer must compare the signature of the cheque with the signature of

the specimen signature card.

The officer must verify the regularity of the endorsement.

The officer may allow overdue against a cheque if prior arrangement is

done with the bank.

$adding a che=ue/

"fter verifying the above mentioned things the offer to make payment by

putting Npay cash$ seal the cash officer make it clear to pay. The cash officer

gives the cash amount to the holder and record in the cash paid register.

"ccount treatment1

0ate articulars 0ebit7Tk8 4redit7T98




4ustomer "?4 0r.

To 4ash "?4

Mxx

Mxx

'. 7e)osit Section/

The function of the deposit is very important. It is fully computeri!ed. The

officer of the deposit section maintains account numbers for different account

number of all the customers of the Bank. They are used different code numbers

for different account. By this section a depositor?drawer can know what is the

present position of his?her account. The officer makes posting three types of

transactions such as cash, clearing and transfer. This section performs the

following tasks.

ost all kinds of transactions.

rovide on demand report.

4heque maintenance.

reparation of day transaction position.

reparation of closing monthly transaction.

'0 <emittance Section/




Banks have a wide network of branches over the country and offer

various kinds of remittance of the public. The main instrument used by the "%&

"'"(") I*%"+I Bank of remittance of funds is1

ayment order 7/8

0emand 0raft7008

Telegraphic Transfer7TT8

/n&%ine Transfer.

'0a 7emand 7raft ?77/

It is an instrument containing an unconditional order of one Bank to another to

pay a certain amount of money to the named or order the amount therein on

demand. 00 is very munching popular instrument for remitting money from

one corner of a country to another. 4ommission for 00 is 6.5H of the principle

amount.

'0b Accounting treatment1

700 by 4heque?cash8

0ate articulars 0ebit7Tk.8 4redit7Tk.8

4heque?4ash "?c 0r.

To 0emand 0raft

Mxx

Mxxx




To 00 commission "?c Mxxx




'0c 7ifferent beteen )ay order and demand draft/

There are some different between pay order and demand draft, which are1

In case of demand draft both the payee need to have account. But there is

no certain rule for pay order.

/ is used in the same clearing area. 00 is used for all kinds. 00 can not

be done in the same clearing area.

00 is drawn on a certain Bank officer. But there is no certain rule for /.

'0d Telegra)hic Transfer ?TT

Telegraphic transfer is the quickest method of transferring funds from

one place of another. *ometimes the remitter wants that the money to be

available to the payee immediately. In that case bankers are requested to remit

the fund telegraphically. )ere the remitter bears the additional charge of

telex?telephone. 4harge for TT is 6.5=H of the principal amount and the

addition charge telex?telephone is Tk. E6.66 In case of TT both the parts must

have accounted.

'1 Account Section/

This is a very much crucial department for each branch of a

commercial Bank. 'ecodes of all the trisection of every department are here as




will as with order respective branches. "ccounting department verifies all

financial amounts and contents of transaction. If any discrepancy arises

regarding any transaction this department report to the concerned department.

'1a Tasks of accounts de)artment/

"ccounts department plays vital role in commercial banking. In privet

banking sector accounts department of "%&"'"(") I*%"+I BankBangladesh %td. erforms its tasks properly.

The activities of account section are as follows1

o 'ecord all transaction in the cash book.

o 'ecord all transaction in the general subsidiary ledger.

o repare daily fund function, weekly position, period statement of affairs

etc.

o repare necessary statement for reporting purpose.

o +ake salary statement and pay salary.

o Branch to branch fund remittance and support for accounting treatment.

o Budgeting for branch.

+ake charges for different types of duties.

'2 #y Findings




7ata analysis and inter)retation based on =uestionnaire and inter,ies on

the customers@clients

5. hat is your opinion about the banking environment of "%&"'"(")

I*%"+I bank %tdL




Table 5 7"bout environment of "%&"'"(") I*%"+I Bank8

*% Co1 4omments Co of person ercentage

5 Kery -ood E= E=

@ -ood ;6 ;6

E (air = =

F oor 6 6

Total 566 566

Inter)retation/

(rom the data analysis we can see, most of the clients agreed that banking

environment of "%&"'"(") I*%"+I Bank is good. *ome people committed

it is very good and a few said that it$s fair.




@. mployees are always ready to help the customers. 0o you agreeL

*% Co. 4omments Co. /f person H

5 Des <= <=

@ Co 6 6

E *ome times = =

Total 566 566

Inter)retation/ "nalysis shows that most of the customer agreed that

employees are always ready to help. They are very cooperative.

E. 0o you think customer is getting more facilities here in comparison with

other bankL

*% Co. 4omments Co. /f person H

5 Des ;6 ;6

@ Co 6 6

E Cot all cases F6 F6

Total 566 566




Inter)retation/ from the analysis it is found that customers are getting more

facilities comparing to other bank. "t the same time a large number of clients

expressed that in some specific cases such as interest rate etc. They are getting

more facilities, but not all sectors of banking service.

' What is your suggestion to im)ro,e the ser,ice =uality of Al-Arafah

Islami bank ltdC

In order to improve the service quality customer expressed different

opinion in their point of view. I can summari!e their opinion, which is the gist

of their suggestions. They have of take some more steps to improve the service

quality. ach department of the Banks should computeri!ed the cash transaction

process would be easier and very prompt that it would take a very short time.

+ore branches should be opened in 0haka 4ity and other cities of his country.

They will have customer credit *cheme and other *cheme that

will help the customer. It is badly needed to provide modern Banking services

such as 4redit 4ard, "T+ card, Kisa card etc. "%&"'"(") I*%"+I Bank is

providing better service comparing to other privet Banks. But there are almost

=@ Bank in our country. In the near future some new banks are going to be

opened. *o, in order to complete in the market "%&"'"(") I*%"+I Bank

should be have to improve their service. They should increase their manpower

and will have to improve their service quality and provide more facilities.




': Finding in different sections of the Bank/

I found that all the sections of the Bank are facing lack of manpower as a

general problem.

!eneral Banking 7e)artment1

In general banking department they follow the traditional banking system.

The entire general Banking procedure is not fully

4omputeri!ed. "s a result some processing for example collection money

from the deposit take a long time to perform.

The cash counter I think is congested and the procedure is also

traditional.

There is no computer in "ccounts /pening section and 'emittance

section. That$s why the service is not prompt as the customer$s demand.

%ack of variety of services is also a drawback of the general Banking area

of the "%&"'"(") I*%"+I Bank of Bangladesh %td. The Bank

provides only some traditional limited service to its client. "s result Bank

is falling behind in competition.




(; <ecommendations

Banking is service oriented marketing. Its business profit depends on its

service quality. That$s why the authority always should aware about

their service quality.

To provide service to the customer it is necessary to have a trained team

of an organi!ation of an institution. (or this reason the Bank should

recruit more fresh, bright and energetic person.

Bank should offer Bank is launching 4ustomer 4redit *chemeG "%&

"'"(") I*%"+I Bank is failing to launch this kin of *cheme. The

management can undertake such sort of *chemes and earn more profit.

"s soon as possible the Bank should stat more benches in 0haka 4ity as

well as the other cities of the country.

Cow a day$s world is going very fast. Cow most of the Bank opens

online customer service system. *o, in order to compete in the world

market they should adopt online Banking system.

The Bank should attempt to enter into the share market by issuing share

to capitali!e more money and invest thereafter by expanding the number

of branches around the city.

The recruitment process of the Bank is very length an expensive. The

bank should select the employee by reducing the lengthy process.




In general banking department it is necessary to implement modern

Banking process instead of tradition system. The department should be

more computeri!ed.

0ata base net working is the most modern technology to transfer data

from branch to branch or branch to head office and vice versa. *o, they

must use this technology in information technology 7IT8 department of

the Bank.

The loan sanction process should be easier that the clients can feel

convenient to take loan from the Bank.

To make exchange process more prompt the authority should use

modern communication system such as &mail, (ax, win (ax Internet

etc.




(' &onclusion

xport Import Bank of Bangladesh %imited is a third 2 generation private

commercial bank in the country with commendable operating performance

0irected by the mission to provide prompt and efficient service to clients, "%&

"'"(") I*%"+I Bank ha successful celebrated its sixty years of operation. It

provides a wide rage of commercial banking services "%&"'"(") I*%"+I

Bank has a achieved success among its peer group within a short span of time

with its professional and dedicated team of management having long

experience, commendable knowledge and expertise in conversion with modern

banking. ith all its resources, the management of the Bank firmly believes that

the bank would be able to encounter problem that h may arise both at micro and

macro economic levels. The +anagement of the bank is maintaining an efficient

portfolio in order to have a healthy growth and retain customer satisfaction. "%&

"'"(") I*%"+I Bank is engaged in modern banking. It is expected that "%&

"'"(") I*%"+I Bank by its efficient "sset and liability management will be

able to maintain its trend of growth and thus overcome the threat. Ceither "%&

"'"(") I*%"+I bank nor any other commercial bank can effectively combat

risk. )owever, "%&"'"(") I*%"+I Bank having small and targeting niche

markets is likely to be less affected by restrictive monetary and ? or fiscal policy.

The +anagement of the Bank is planning to meet the required capital adequacy

withering the stipulated time frame, and a loan and advance policy that expected

the loan loss provisioning in future will be within tolerable limit having little

material impact on future profitability as well as net worth. "lthough "%&

"'"(") I*%"+I bank is yet to be fully automated and it proceeding

aggressively to enhance its technology level. "s "%&"'"(") I*%"+I bank is

performing good in traditional general banking and there is a good demand for

Islamic Banking and the opining if then 7The management8 that the




performance of the Bank is getting much better than past. I wish and hope that

in future "%&"'"(") I*%"+I Bank will be Cumber one commercial Bank in

Bangladesh.

Foreign Exchange and Foreign Trade in Al Arafah Islami Bank Ltd

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Transcript of Foreign Exchange and Foreign Trade in Al Arafah Islami Bank Ltd