Internship report

On

Activities Undertaken at

Trade and Service Department of Prime Bank Ltd.

Department of Accounting and Information Systems

Faculty of Business Studies

Jagannath University

INTERNSHIP REPORT ON Activities Undertaken at

Trade and Service Department of

Prime Bank Ltd.

Supervised By:

Md. Shofiqul Islam

Associate Professor

Department of Accounting & Information Systems.

Jagannath University.

Submitted By:

Dipongkor Paul

ID No. : 114411

Section : A

Session : 2010-11

BBA 6th Batch

Date of Submission: 5th Nobember, 2015.

I

Letter of Transmittal

5th November 2015.

Md. Shofiqul Islam

Associate Professor,

Department of Accounting & Information Systems

Jagannath University.

Subject: Submission of internship report.

Dear Sir,

Attached herewith is a report of Internship conducted at Trade & Service Department of

Prime Bank Limited which is a part of the BBA Program curriculum. It is great

achievement to work under your active supervision. I would like to take this opportunity to

thank you for the guidance and support you have provided me during the course of this

report. To prepare the report I have collected what I believe to be most relevant information

to make my report as concise and reliable as possible. I have concentrated my best effort to

achieve the objectives of the report and hope that my endeavor will serve the purpose. The

practical knowledge and experience gathered during my report preparation will

immeasurably help in my future professional life.

Lastly, I remain extremely grateful to you for the permission you have accorded for

submission of this report.

Sincerely Yours,

Dipongkor Paul

ID: 114411

Section: A

Department of Accounting & Information Systems,

Jagannath University

II

Approval Letter

This is to certify that Dipongkor Paul, a student of Accounting & Information Systems

Department of Jagannath University, bearing ID No: 114411, has completed his three

months internship on “Prime Bank Limited” under my supervision.

I hope that the knowledge he had acquired from the internship program would greatly help

him to adapt with the need and challenges he will face in his future career. I wish his every

success in his future endeavor.

-----------------------------

Md. Abdul Quddus

Vice President

Trade Service Department,

Prime Bank Limited, Dhaka.

III

Acknowledgement

I have received a lot of helps, assistance and cooperation during my internship period and

during preparation of this report. I feel great pleasure acknowledging their contribution

with deep respect and gratitude. First and foremost, would like to express my gratitude to

my respected supervising teacher Md. Shofiqul Islam, Associate Professor, Department

of AIS of Jagannath University, for his valuable suggestions, encouragement and

cooperation during the whole period of the work. I also wish to express my deep gratitude

to acknowledge Mr. Syed Tofael Ali, Executive Vice President of TSD, and Mr. Md. Abdul

Quddus, Vice President of TSD, for their support, guidance and patience. I would like to

give my heart full thanks to Mr. Rumman Alam Chowdhury, FAVP of TSD, Prime Bank

Ltd., Mr. D M Shafiqul Islam, Mr. Kishore Kumar Biswas Senior Officers of TSD, Prime

Bank Ltd, Mrs. Mabia Momtaj and Ms. Irin Akter, Junior Officers of TSD, Prime Bank

Ltd, and, who provided me the guidance and counseling during my entire internship

program. Their continuous and well-thought feedback enabled me to make this report a

comprehensive one.

Last of all, once again I want to thank my respected teacher Md. Shofiqul Islam, for

entrusting me with this work, which I believe will benefit me in the long run.

----------------------

Dipongkor Paul

IV

Executive Summary

The purpose of this report is the fulfillment of Bachelor of Business Administration

program’s requirement that involves three months internship program followed by

preparation of this report. The report is about the “Activities Undertaken at Trade and

Service Department of Prime Bank Ltd.” With a view to establishing various aspects of

this topic, the report has been divided into some chapters. The Introductory part starts with

the scope, objectives, and sources of data collected, limitations. The second part sheds

some light on the organization’s background and business activities. The chapter 3 of this

report is about the activities undertaken by me in the Trade and Service Department. In the

next chapter the challenges I faced during this internship period is stated and finally, the

remedies or the ways to overcome those problems along with some recommendations is

given in the following chapter.

For the Bank, being different means- being the better bank in terms of operational

excellence, unique customer focus, risk management, organizational advancement in terms

of state-of-art IT implementation, expansion of branch network, new business

development, implementation of standard operating procedures, training and retraining a

pool of efficient and dedicated human resources and ensuring highest level of compliance

and transparency in all spheres of operations and performance presentations. Prime Bank

Limited is well positioned to meet the challenges of 2015 and will continue to strive to

innovate and capture opportunity for growth and value creation. The Bank focuses on its

large customer base to generate more business from existing customers. This strategy is

supported by wide spectrum of product and services and level of customer service delivery.

Here in this report I have tried to explore Prime Bank’s area of foreign trade operations

and their excellence.

Table of Contents

Name of the

Chapters Description of Chapters Page

No.

Letter of Transmittal I

Certificate of Completion II

Acknowledgement III

Executive Summery IV

Chapter one: Introduction

1.1 Origin of the report 2

1.2 Scope 3

1.3 Objectives 3

1.4 Methodology 4

1.5 Sources of data 4

1.6 Limitations of the Study 5

Chapter Two: Overview of the Company

2.1 About Prime Bank Ltd. 7

2.2 Mission 8

2.3 Vision 8

2.4 Managerial Hierarchy 9

2.5 Products 10

2.6 Trade & Service Department 11

2.7 Process flow of LC 13

2.8 Details of LC mechanism 14

Chapter Three: Activities Undertaken

3.1 Inland Back to Back Export LC 16

3.2 Import LC 17

3.3 Others 17

Chapter Four: Challenges Faced

4.1 New Environment and Culture 19

4.2 New Life Style New Routine 19

4.3 Too Much Work Pressure 19

4.4 Afraid to Ask Questions 19

4.5 Too Few Work or Mundane work 20

Chapter Five: Lessons Learned 22

Chapter six: Conclusion 25

Chapter Seven: Recommendations 27

Reference 28

Chapter One Introduction

Page | 2

1.1 Origin of the Report:

In today’s financial world, banking sector plays an uncompromising role to uphold a

country’s economy. Recent times in Bangladesh, private banking sector has been

contributing a lot in the total economic growth of the country; and this sector has proven

itself as a profitable venture with its superior products and customer services.

I have completed my internship program from Trade and Service Department of Prime

Bank Limited for the period of 90 days from 2nd August to 29th October, 2015. This

report was originated from the practical knowledge I gained about the various aspects of

operations and activities of Trade Service Department of the bank.

Prime Bank Limited (PBL) is a fast growing private sector bank in Bangladesh. In terms

of quality services and value addition to shareholders, Prime Bank Limited is already

maintaining its position at the top slot. The bank has already proved satisfactory

progress in all areas of banking operation and it further expanded and consolidated its

customer bases both in of its core business and retail banking. Prime Bank Limited is

determined to explore the different ways to accommodate with the needs of its clients.

I have worked in the Trade and Service Department (TSD) of the bank. It has given me a

chance to directly communicate and provide professional service to the bank clients.

Page | 3

1.2 Scope

The scope of this report is mostly limited to Trade and Service Department (TSD) of

Prime bank limited, at Motijheel HUB as the report is based on practical observations,

and also limited to the related works performed by me within the Department. There was

no scope of doing outside surveys. The report’s scope was narrowed to the branch

operations and practices.

Finally, the preparation of this report provide a great opportunity to have an in depth

knowledge of some banking activities practiced by the PBL at TSD. It was also an

opportunity to acquire a fast hand perspective of one of the leading private bank in

Bangladesh.

1.3 Objectives:

Primary objectives:

To give an idea about my works during the internship period

To give an idea about my leanings during the internship period.

Secondary objectives:

To give an overview about the foreign trade operations done by the bank.

To find out and provide recommendation for the challenges faced during the

internship period.

Page | 4

1.4 Methodology:

In preparation of this report the method used is to first observing, doing the given tasks,

identifying problem and maintaining daily record. Most of the necessary information has

been collected by personal observation, face-to-face interviews and questions responded

by the clients, officers working within the department, circulars sent by the head office.

1.5 Sources of Data

The report is based on both primary and secondary sources of data information.

Interviewing the managers and some officers of the bank, talking to the customers are

the primary sources of information. Furthermore, different publications of the bank,

annual reports, and bank website were the secondary sources of data.

Primary sources:

Face to face conversation with officers of Trade and Service Department.

Personal observation.

Informal conversation with the customers of the bank.

Daily activities conducted by me at the bank.

Relevant Materials provided by the officers.

Secondary source:

Different websites.

Annual report.

Bank website.

Page | 5

1.6 Limitation of the Study

The report would have been more interesting if more time was available. But I have tried

my best to complete the report within a limited time. Other limitations are regarding data

collection since Prime Bank Limited maintains strict confidentiality about providing their

financial information; therefore it was quite difficult to obtain all the necessary data that

was required to complete the report. In some cases assumptions had to made for some

particular aspects. Thus in those cases there might be certain level of inaccuracy and

some of aspects is excluded. Another important factor is that data are not structurally

distributed in the organization; for that reason I had to depend on personal observations

and secondary data like the annual report, different product brochure. Due to secrecy

point of view it was not possible to collect all the core information/data from the

department either. Though it is a competitive market, the company was quite liberal in

disclosing the confidential information to me for my report but it was expected to me to

keep the confidential things at my discretion and as at the same time, render as much

information in the report as required. Again, major part of the report is based on the face-

to-face interviews, which consists of view and opinions of those people. In some cases

some of them were not able to provide concrete facts of figures. In this case as well some

assumptions had to make for report completion.

Chapter Two Overview of the

Company

Page | 7

2.1 About Prime Bank Limited:

In the backdrop of economic liberalization and financial sector reforms, a group of highly

successful local entrepreneurs conceived an idea of floating a commercial bank with

different outlook. For them, it was competence, excellence and consistent delivery of

reliable service with superior value products. Accordingly, Prime Bank was created and

commencement of business started on 17th April 1995. The sponsors are reputed

personalities in the field of trade and commerce and their stake ranges from shipping to

textile and finance to energy etc.

As a fully licensed commercial bank, Prime Bank is being managed by a highly

professional and dedicated team with long experience in banking. They constantly focus

on understanding and anticipating customer needs. As the banking scenario undergoes

changes so is the bank and it repositions itself in the changed market condition.

Prime Bank has already made significant progress within a very short period of its

existence. The bank has been graded as a top class bank in the country through

internationally accepted CAMELS rating. The bank has already occupied an enviable

position among its competitors after achieving success in all areas of business operation.

Prime Bank offers all kinds of Commercial Corporate and Personal Banking services

covering all segments of society within the framework of Banking Company Act and rules

and regulations laid down by our central bank. Diversification of products and services

include Corporate Banking, Retail Banking and Consumer Banking right from industry to

agriculture, and real state to software.

Prime Bank, since its beginning has attached more importance in technology integration.

In order to retain competitive edge, investment in technology is always a top agenda and

under constant focus. Keeping the network within a reasonable limit, our strategy is to

serve the customers through capacity building across multi-delivery channels. Our past

performance gives an indication of our strength. We are better placed and poised to take

our customers through fast changing times and enable them compete more effectively in

the market they operate.

Page | 8

2.2 Mission:

To build Prime Bank Limited into an efficient, market-driven, customer focused

institution with good corporate governance structure.

Continuous improvement of our business policies, procedure and efficiency through

integration of technology at all levels.

2.3 Vision:

To be the best Private Commercial Bank in Bangladesh in terms of efficiency, capital

adequacy, asset quality, sound management and profitability having strong liquidity.

Page | 9

2.4 Managerial hierarchy of prime bank ltd.:

CHAIRMAN

BOARD OF DIRECTORS

EXECUTIVE COMMITTEE

MANAGING DIRECTOR

ADDITIONAL MANAGING DIRECTOR

DEPUTY MANAGING DIRECTOR

SENIOR EXECUTIVE VICE PRESIDENT

EXECUTIVE VICE PRESIDENT

SENIOR VICE PRESIDENT

VICE PRESIDENT

SENIOR ASSISTANT VICE PRESIDENT

ASSISTANT VICE PRESIDENT

FIRST ASSISTANT VICE PRESIDENT

SENIOR EXECUTIVE OFFICER

EXECUTIVE OFFICER

PRINCIPAL OFFICER

SENIOR OFFICER

MANAGEMENT TRAINEE OFFICER

JUNIOR OFFICER

Figure: Management Hierarchy of PBL

Top Management

Executive Level

Management

Mid-Level

Management

Junior Level

Management

Page | 10

2.5 Products:

Pro

du

cts

and

Ser

vic

es

Loans and Advances

Local Currency Deposits Account

NRB Banking

Treasury

Fund Transfer

Value added Service

Other Service

Page | 11

2.6 Trade service department:

Prime bank limited had all along put strong emphasis in trade services related areas and

enlarged its capacity building to handle growing business volume. It has also strengthened

support functions so that the bank can be relatively an important player among the private

sector banks in this area. Consequently, it has produced steady stream of revenues despite

downturn in international trade.

Operational guidelines and procedures of centralization of trade service department

Introducing customer and obtaining customer details:

All new and existing clients at loan origination meet PBL’s and Bangladesh bank standards.

Opening formalities of customer’s account including delivery of cheque book, TP

declaration & preparation of KYC in order to conduct day-to-day operations has to be done

at branch.

In compliance with PBL’s KYC and credit policy, branch should know their customer and

has corroborated customer information with face-to-face contact, factory/office visits, and

financial data checking. The branch reviews the customer due diligence.

Initiation of credit proposal:

Concerned officer of the branch will initiate credit proposal and ensure that credit facility

is extended to a real, known and qualified borrower whose use of proceeds is clearly and

legitimately established. The structure of credit facilities is based on an evaluation of the

borrower’s business needs, credit worthiness and repayment source is clearly defined. The

export finance division/branch officials should visit customer management and business, if

require.

Based on the requirement of the client, branch will prepare and forward credit proposal

including CIB information and other necessary documents to head office, credit risk

management division (CRM). The head office CRM division is the approval chain for all

credit facilities. Credit officer of branch and credit officer at head office CRM should be

familiar with current bank credit policy and Bangladesh bank circulars related to credit

lending and need to ensure that all facilities are recorded on standard forms called the cm

for import and export facility, application for limit financial spread sheet, account

Page | 12

profitability & performance, portfolio review, visit/call report and other enclosures where

required, which are reviewed and limits are approved by head office competent authority.

Branch will communicate with head office credit division regarding necessary

documentation and info towards the approval of the credit proposal or respective credit

officer of credit division may communicate with branch for any information/documentation

towards the approval of credit proposal.

After approval of credit proposal by head office competent authority, respective credit

officer of the credit division will issue and send a sanction advice to TSD(trade service

department) and a copy to credit administration division for loading the limit and one copy

to the branch.

Issuance of sanction letter for client & documentation:

Soon after obtaining approval from the credit division, head office, branch will start doing

business in favor of the customer. Cad, ho and branch is fully responsible for preparing &

issuing client offer letter, completion of documentation & custodian of documentation as

per PBL’s and Bangladesh bank credit policy & guideline.

Page | 13

2.7 Process Flow of LC:

The way a letter of Credit work is given below with diagram and details.

Exporter/seller

/ Beneficiary

Advising /Negotiating/

Confirming/Nominated

Bank Ex.: SCB Singapore

Port of loading

- Customs

PBL's Nostro

Bank -

Citibank NA,

NY

Importer/buyer

/applicant

Port of

destination

- Customs

Issuing Bank.Ex.

Prime Bank Ltd

SCB Sg's Nostro

Bank - SCB, NY

Documents

LC

Pro-forma Invoice

Agreement

between them

Goods

Shipment

Reimbursing

Bank

Paym

ent

Do

cum

ents

Ap

pli

cati

on

Docu

men

ts

Good

s

Paym

ent

Docu

men

ts

LC

Good

s &

Docu

men

ts

Payment

Fig: How an LC works

Page | 14

2.8 Details of LC mechanism

1. First of all contact takes place between buyer/importer/applicant and

seller/exporter/beneficiary. After agreement between them the seller issues a

Proforma invoice or a sales contract takes place between them.

2. The importer gives the pro-forma invoice along with other required papers to his

bank for issuance of an LC in favor of the beneficiary.

3. The issuing bank then issues an LC on behalf of the importer and sends the LC vide

SWIFT to beneficiary’s bank or advising bank.

4. Advising bank then advises the LC to the beneficiary.

5. The beneficiary starts preparing the goods for shipment on receipt of LC.

6. After preparation / manufacture of goods the beneficiary ships out the goods

clearing customs formalities. After that the beneficiary presents relevant docs to the

negotiating bank or the nominated bank as the case may be for

negotiation/collection.

7. The negotiating bank then forwards the docs to the issuing bank.

8. The issuing bank cross examines the docs and if found okay collects fund from the

applicant and also makes payment to the negotiating bank. Even if the applicant

does not give fund to issuing bank – it has an obligation to pay the negotiating bank

on first presentation.

9. During the process of payment the issuing bank makes payment through its Nostro

bank.

10. The nostro bank forwards the proceeds to the nostro bank of negotiating bank.

11. The nostro bank of negotiating bank makes payment to them.

12. Finally the negotiating bank makes payment to the beneficiary and thus the full

cycle completes.

Chapter Three Activities

Undertaken

Page | 16

These are the activities undertaken by me during the internship program-

3.1 Inland Back to Back Export LC:

1. Create LC File:

After receiving the required documents and information an L/C file is created giving

it a 12 digit code known as LC file number, a 10 digit TF number on top of the file.

The LC file number is consists of a branch code, year code, LC type code and last

of all LC serial no.

2. Open and post LC information to the Bangladesh Bank website:

After LC files are created they are sent to the different teams. Then they post the

LC information to the Import monitoring System of Bangladesh Bank Website.

After a successful post a “web posted” seal is given on top of the LC file.

3. Amendments of previously posted LC containing errors:

The Import Monitoring System of Bangladesh Bank provides a limited facility to

make amendments of previously posted LC’s that contains clerical errors. But if the

errors are regarding the LC type code and other serious matter an email must be

sent to concerned authority in IT Dept. of Bangladesh Bank requesting to cancel the

LC. Afterwards the LC can be posted accurately.

4. Amendments of previously posted LC for increase or decrease of LC value:

Sometimes the concerned party of the Prime Bank Limited request to amend the LC

value due to increase or decrease of the value. In such cases the amendments can

be made at the Bangladesh Bank’s Import Monitoring System website.

5. Change previously posted Expiry dates, Latest shipment dates of LCs:

If any changes are to be made regarding Expiry date and Latest date of shipment of

goods, it can be done through Bangladesh Bank Website in the same way as

amendments of LC value are made.

Page | 17

3.2 Import LC:

1. Create LC file:

These are the LC’s Opened by the local companies against Export LC to facilitate

inland trade. The inland LC file creating process is same as the foreign LC file

creating process.

2. Open and post LC information to the Bangladesh Bank website:

The LC’s opened at the Non Authorized Dealer (Non AD) branch are to be posted

in a different manner. First, all the LC information is provided in the Prime Bank’s

TF Bulk data upload system. Then an LCAF or LC authorization form and Import

LC form is created in XML file extension and uploaded it in the Import Monitoring

System website of Bangladesh Bank. After verifying that upload is successful it is

notified in the Prime Bank’s TF Bulk Data Upload System.

3. Amendments of previously posted LC containing errors:

Since the said LC information file of *.xml extension can’t be edited, to rectify any

errors the inputter must contact with the IT division of Bangladesh Bank.

4. Amendments of previously posted LC for increase or decrease of LC value.

5. Change previously posted Expiry dates, Latest shipment dates of LCs.

3.3 Others:

Maintaining the Inward Foreign Documents Register:

When the required documents are received from the foreign bank through courier or mail

they are received and a record is kept which is known as Inward Foreign Document register.

After receiving the documents they are marked and sent to different teams who deal with

different types of LC.

Maintaining the Advising Register and giving advising numbers

Maintaining the Outward Register

Chapter Four Challenges Faced

Page | 19

There was times when I faced some challenging situations and time during my internship

program. The main and considerable challenges are as follows which took a little time to

overcome-

4.1 New Environment and Culture:

The first challenge I faced when I started the Internship is overwhelming working

environment. All the theoretical knowledge I gained from text books seemed very little

to me. Moreover everything seemed very different than what I expected while I was in

class. It also true that the knowledge I have gained from the text books served as a

strong base for works I undertook at the end. Though it took me a while, I was

successfully able to cope up with everything.

4.2 New Life Style New Routine:

Since I’m a recent graduate, I was getting used to a new life style that was quite jarring.

Instead of waking up at ten and going to a few classes a day, I was sitting at a desk 9-

5. The hours and the new living situation clearly made socializing more difficult than

before.

4.3 Too Much Work Pressure:

The second problem I faced is too much work pressure. I started my internship period

during a very busy time for the traders. Since I was in the trade and service department

I had to go through a very busy work schedule. It seemed a little difficult to have a huge

load of work all in a sudden in a new environment I haven’t been before.

4.4 Afraid to Ask Questions:

Sometimes my supervisor gave me a job, but the directions didn't quite make sense to

me, or it felt like he forgot that I was new there. It was clear that I lacked the expertise

of that particular job since these are not available in the text books and never taught in

the class. In the beginning, though it didn’t stop me from asking questions, I was afraid

to ask question which could have made the directions unclear and also the work

difficult.

Page | 20

4.5 Too Few Work or Mundane work:

Then I also faced opposite situations when there was a little work to do. Part of the

reason I took the internship in the first place was to gain valuable work experience, so

it can be extremely frustrating when I wasn’t getting that. The problem was of not

having enough work or being given “busy work” that doesn’t really add value to the

company.

Finally, there was a time I experienced lack of feedback. It had been a few weeks, I have

just the right amount of work, and don’t have any specific questions about any projects I

was working on—but I got no feedback from my supervisor, good or bad. I really wanted

to know if there was something I could improve upon, but I had no idea how I was really

doing. This transition from student to intern was also challenging in terms of

feedback. While we are students, we receive frequent reminders of our academic

performance through grades, but feedback regarding performance in the workplace is a bit

different.

Chapter Five Lessons Learned

from the Internship program

Page | 22

Lessons Learned:

The main lesson I learned after completing the internship program is that the working place

is nothing like anything expected. It is a whole new environment where one needs to cope

up with in order to survive. I needed to change myself my life style into a well-planned and

routine life. Here proper time management is a very important fact.

Whether it’s arriving early in the morning or getting a task done on time, punctuality is

essential. I had to manage my time well to get things done. It shows the dedication to my

work, and that I’m capable of responsibility and professionalism.

We always hear how it’s important to have experienced industry leaders to look up to, but

it’s also essential to practice horizontal loyalty and develop relationships with people who

are at the same career level, no matter which industry they’re in. As the link build to one

another- as they grow, so do we.

Sometimes there were difficulties in making the job done successfully. In such cases one

should not get frustrated or scared but should communicate with the supervisor

immediately and let him know about the problem faced. There might be mistakes doing the

works but we shouldn’t hide it rather we should tell the supervisor and ask for help to rectify

it.

Being able to work with other people in your department and office is the key. At Meals-

On-Wheels I worked with two other interns as well as the rest of the team. Interns were

encouraged to work together and brainstorm ideas to help the company gain their goal.

Being able to work together and help one another was vital to the department’s success.

Teamwork is such an important aspect of running successful company and my internships

have taught me how to do this on a business level.

This Internship gave me the confidence to believe in myself and my skill level. Believing

in yourself is vital to your success and internships helped me gain the experience that I

believe will help me feel competent and confident in what I will do in future.

Many times I would be sitting at my isolated desk with endless questions about what I was

supposed to be doing. I was completely paralyzed in my chair because I was too afraid to

walk around or bother anyone. I rarely moved from my desk the first few weeks, but I

Page | 23

would have been much more efficient and happier if I had gotten up, asked my questions,

and got back to work.

I often mimicked my colleagues. I tried to watch how they interact, how they talk, how

they dress, and their repeated habits. I learned a lot about office etiquette procedures from

the ones who have been there for years. Coworkers have a lot of experience and they have

obviously made it in that particular field. Asking them how they got this far and what advice

they have for me helped me planning for my future career. Thus one can learn a lot and get

some great ideas.

Finally, the Internship program allowed me to identify my strengths and weaknesses so I’m

able to learn from mistakes, improve my capabilities and keep moving forward. Self-

challenges are not discouraging, they are to be taken as a learning experience. In addition,

they encouraged me to ask questions, get involved, set goals and interact with the rest of

the team on a personal level.

There is much more to the internship role. I was there as a full-time team member

embracing the job opportunity to gain real world experience and organizational culture.

Chapter Six Conclusion

Page | 25

Conclusion:

Every year the foreign transaction of Prime Bank ltd has been on the rise contributing more

and more to the country’s economic growth and the last few years were no different with

significant rise in remittance during the last quarter of 2009. However that didn’t show any

signs of restrains and neither did it show any changes in terms of commodities being traded,

as the volume of trade kept on increasing. No matter whatever the challenges are in the area

of Foreign Trade, Prime Bank is fully equipped to face any obstacle. For the last 6 Years

they have hold the Number 1 position in the Bangladesh Banks CAMELS rating and hopes

to be on top this year as well. As the economy of Bangladesh is increasing so is the country

foreign trade and Prime Bank like always have played its role in making sure that things go

smoothly. However, since sky is the limit, the bank is still evolving every day striving to

provide its Foreign Exchange customer and others with the best possible service. Just

before the starting of my professional life I got the opportunity to work one of the leading

bank of Bangladesh and I hope my work experiences will help me in future in my

professional life at the end of my report I would like to thank the HR division of Prime

Bank Ltd for giving me the opportunity to work with them.

Chapter Seven Recommendations

Page | 27

These are the recommendations I would like to mention for the challenges I faced during

my internship.

If there is a lot of work or huge pressure one should keep his long term career goals

clearly in mind to make it all feel worth the effort. Getting frustrated is not the solution

but trying to face it and solve it will only help overcoming it.

Following the rules is a very important factor to show and prove me worthy for the

company. It makes a better employee whom the company can be trusted upon.

If there is any confusion about anything relating to the job, one shouldn’t assume or be

afraid of asking for help from the supervisor. It is the right of the intern to ask questions

if they don’t know anything and the responsibility of the supervisor to answer or

explain. Moreover it will impress the supervisor that the intern is very eager to learn

and wants to do the work right.

There might be some competitor interns. In this case one should stay friendly. At this

stage of the career I've been told that the most important quality I can have is to be

open-minded, drama-free, and easy to work with. It’s okay if you aren’t the smartest,

fastest worker, or ruthlessly ambitious worker. People will want to work with you

because you’re enjoyable to work with and have a good attitude.

If interns are overwhelmed at their internship site, they should try to determine the main

cause. They should ask if they have efficient time management skills. Are the tasks

themselves too challenging? Are the tasks manageable, but there are too many of them?

Then they should determine if they have the time, resources, and knowledge (or

knowledge available to them) to match your internship responsibilities and goals. Once

they’ve determined the cause, they should address their supervisor in a polite, respectful

way and let them know what they’re experiencing and ask for advice.

Interns are often given simple tasks as they learn the ‘lay of the land’ in the

organization. This knowledge is valuable when we gain more responsibility and

accomplish more complicated goals. If they feel as though your tasks are mundane or

not challenging enough, first they should make a conscious effort to complete all of

their internship tasks in a timely manner and to the best of their ability. The

demonstrated competence and initiative helps to build trust and will send your

supervisor the message that you are ready for gained responsibility.

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All internship supervisors give feedback differently both in manner and

frequency. They should accept any feedback they receive with an open mind and

positive attitude. If in case the supervisor gives general positive feedback they should

ask for specific examples. It’s important to explore areas for improvement in addition

to strengths. The more they work on developing those areas, the more prepared they

will be for their first full-time position.

Last of all, an intern should keep in mind that all of the solutions to these common

internship challenges involve talking to the supervisor and being proactive. Your

supervisor will not know what you are thinking, feeling, and experiencing until you tell

him or her. He or she will have feedback for you and practical advice for how to

proceed. You can take advantage of the wealth of experience of your supervisor and

coworkers. Don’t be intimidated to talk to your supervisor about the things that

challenge you, because they are there to help.

Page | 29

Reference

Bangladesh Bank, Central Bank of Bangladesh. (2012). Establishment 2013.

Retrieved from

http://www.bangladesh-bank.org/aboutus/index.php.

Bangladesh Bank, Central Bank of Bangladesh. (2012). Online Foreign Exchange

Transaction Monitoring System 2013.

Retrieved from

http://www.bangladesh-bank.org/eservices.php

Bangladesh Bank, Central Bank of Bangladesh. (2012). Regulations and guidelines.

Foreign Exchange guideline VOL 1.

Retrieved from,

http://www.bangladesh-bank.org/openpdf.php

Prime Bank Limited, a bank with a difference. (2011). About Prime Bank 2013.

Retrieved from,

https://www.primebank.com.bd/index.php/home/about

Prime Bank Ltd. (2015). Annual Report 2014. Dhaka, Bangladesh: Prime Bank

Limited.