Internship Report

On

“Foreign Remittance Activities of Export & Import Bank Limited

Sylhet Branch,”

Submitted To:
Md Alaul Haque
Assistant Professor
Department of Business Administration
Metropolitan University

Prepared By
Mahbub Alam
ID: 143-116-044
Batch: 34th
Major in Accounting & Information Systems
Department of Business Administration
Metropolitan University

Date of submission: 17th August 2021

 LETTER OF TRANSMITTAL

17th August 202

Md Alaul Haque
Assistant Professor
Department of Business Administration
Metropolitan University
Subject: Submission of Internship Report on “Foreign Remittance Activities of Export & Import
Bank Limited, Sylhet Branch,”.
Dear Sir,
This is a great pleasure for me to submit the internship report, which is a partial requirement for
completing the degree of BBA Program curriculum. It is a great achievement to work under your
active supervision.
My organization is EXIM Bank Limited and I have prepared my internship report on customer
satisfaction of EXIM Bank Limited. The internship program gave me the opportunity to enrich my
theoretical knowledge through practical exposure of financial activities of some businesses. I was
appointed in the General banking, Investment and Foreign exchange department there, which helped
me to get firsthand knowledge about banking.
I therefore, hope that the report will provide necessary information about general banking customer
satisfaction of EXIM Bank Limited. I will be available at any time convenient for further
clarification on the report.

Sincerely Yours,

Mahbub Alam
ID: 143-116-044
Batch: 34th
Major in Accounting & Information Systems
Department of Business Administration
Metropolitan University
 CERTIFICATE OF ACCEPTANCE

17th August 2021

It is to certify that Mahbub Alam, Student ID: 143-116-044, a student of Bachelor of Business

Administration (BBA), Metropolitan University, has prepared this project report titled “Foreign

Remittance Activities of Export & Import Bank Limited, Sylhet Branch,”. Degree under my

supervision.

He is found sincere and active. I wish his success in life.

Md Alaul Haque
Assistant Professor
Department of Business Administration
Metropolitan University

AI-Hamra, Zindabazar, Sylhet- 3100. Bangladesh.

Phone: +880 821 816198, 816199 Fax: +880 821 713304 E-mail: info@metrouni.edu.bd
www.Metrouni.edu.bd
Established in 2003, Metropolitan University is approved by
the Government of the Peoples Republic of Bangladesh and the University Grants Commission of Bangladesh.
 ACKNOWLEDGEMENT

All praise goes to Almighty Allah who has given me the opportunity to do this report on

“Foreign Remittance Banking of Export & Import Bank Limited a study on Sylhet Branch”. It is

a great pleasure for me to express my sincere appreciation to the Department of business

Administration, Sylhet Metropolitan University (MU) for giving me the opportunity to do this

report. I also want to thank Mr. Junel Hussain Chowdhury, Branch Manager of EXIM Bank

Limited, Sylhet. Under whom I did my internship. I also thank Mrs. Aleya Ferdous, Operation

Manager and Sakawath Hussain Chowdhury, Minal Kanti Das, Sondipon Paul and others

officers and employee of EXIM Bank Limited Sylhet Branch, who time to time helped me to do

my work. Without the help and support of them, this report might never see.

I am very much indebted to my supervisor Md Alaul Haque, Assistant Professor Metropolitan

University for giving me direction at different times to prepare this report. It is his guided

supervision that resulted in successful completion and timely submission of the report.
 EXECUTIVE SUMMARY
Banking sector is expanding its hand in different events every day. At the same time the banking
process is becoming faster, easier, and the banking area becoming wider. As the demand for
better service increases day by day, they are coming with different innovative ideas and products.
In order to survive in the competitive field of the banking sector, all banking organization are
looking for better service opportunity to provide their fellow clients. As a result, it has become
essential for every person to have some idea on the bank and banking procedure. Export Import
Bank of Bangladesh Limited believes in the vision of together, towards, tomorrow. To achieve the
desire goal the bank is showing the excellence at all stages with a climate of continuous
improvement. Banks strategic plans and networking will strengthen its competitive performance
over others in this rapidly changing competitive environment.
The overall objective and mission of my report is to represent the Export Import Bank of
Bangladesh Ltd. and to have a clear conception about all the essential parts of the visit.
I hope this report, despite its many limitations, will be a gateway to have a clear concept about
the Overall Banking Performance of Export Import Bank of Bangladesh Limited.
This report is basically composed of 8 chapters, which are divided into different parts. In the
first chapter introduction, origination of the study, objective of the study, methodology, scope
and limitations have been highlighted. The overview of banking industry and EXIM Bank
Limited is discussed in chapter 2 and 3 successively. Chapter 4 has Core Part Chapter 5 has
presented the tasks which I have completed during internship. Chapter 6 has described the
application of knowledge gained during BBA Program, Chapter 7 About is Accounting &
Information Systems of EXIM, And last the Chapter- 8 I have drawn a conclusion with proper
recommendation.
 Table of Contents

Serial No Contents Page No

Chapter 1 Introduction
1.0 Introduction:
1.1 Background of the Report:
1.2 Objective of the Report:
1.3 Scope of the Report:
1.4 Origin of the Study:
1.5 Methodology:
1.6 Limitations of the Study:
Chapter 2 Banking Industry in Bangladesh
2.0 Definition of Bank:
2.1 Definition of Banker:
2.2 Definition of Banking:
2.3 Law of Banking:
2.4 Banking in Bangladeshi Perspective:
2.5. Features of a Bank:
2.6. Functions of a Bank:
2.7. History of banking industry in Bangladesh:
2.8 History of Islami Bank in Bangladesh:
2.9. Banks of Bangladesh at a glance:
Chapter 3 Overview OF EXIM Bank of Bangladesh Limited
3.1 Background of the Bank:
3.2 Vision of EXIM Bank Limited:
3.3 Mission of EXIM Bank Limited:
3.4 Corporate Culture:
3.5 Prime Operational Area:
3. 6 Products & Services of EXIM Bank Limited:
3.7 Social Commitment:
3.8 Achievements:
3.9 Management Profile and Divisions:
3.10 Human Resource Practices in EXIM Bank Limited:
3.11 Shariah Board
3.12 Shariah Council:
3.13 Corporate Information:
3.13 Deposit:
Chapter 4 Foreign Remittance Activities of EXIM Bank Ltd
4.0 Meaning of Remittance:
4.1 Process of foreign remittance:
4.2 Types of Remittance:
4.3 Purpose of foreign remittance
4.4 Features of Foreign Remittance:
4.5 Benefits of Foreign Remittance:
4.6 Negative Aspects and Potential Drawbacks
4.7 Mode of Foreign Remittance Services:
4.8 Foreign remittance performance analysis of Export Import Bank of
Bangladesh Limited.
4.9 Functions of Foreign Exchange Department
4.10 Local Remittance Section
Chapter 5 Task Completed During Internship Program

5.0 My experience in EXIM Bank Limited:

5.1 Importance of Internship:
Chapter 6 Application of knowledge gained during BBA Program
6.0 Application of knowledge gained during BBA program to
accomplish each task:
Chapter 7 Accounting & Information Systems of EXIM Bank
Ltd.
7.0 Introduction:
7.1Timely Information:
7.2 Easy to Use:
7.3 AIS Practice of EXIM Bank Ltd.:
7.4 Internal Control:
7.5 Decision Making:
7.6 External Financial Reporting:
Chapter 8 Findings, Recommendations & Conclusion
8.0 Findings
8.1 Recommendations:
8.2 Conclusion:
Reference
Acronyms
Chapter- 01
Introduction

Page - 1
1.0 Introduction:
Banking system is expanding its hand in different financial events every day. At the same
time the banking service is becoming faster, easier and the banking arena is becoming wider
as the demand for better service increases day by day, they are coming with different
innovative ideas & products. In order to survive in the competitive field of the banking
sector, all banking organizations are looking for better service opportunities to provide their
fellow clients. As a result, it has become essential for every person to have some idea on the
bank and banking procedure. Internship program is essential for every student, especially for
the students of Business Administration, which helps them to known the real life situation.
1.1 Background of the Report:
This report was being assigned as a part of the BBA Program. To prepare the report under the
BBA program requirement, I accommodate my internship program in the EXIM Bank
Limited. For the completion of the program, I have already prepared a report. This report is
being formed on the most important issue “Foreign Exchange performance of EXIM Bank
Limited”. The entire report is based on practical experience of EXIM Bank Limited. I have
tried to furnish all the issue that I gathered from through working with EXIM Bank limited.
1.2 Objective of the Report:
The objective of the report are mentioned according to the priority-
1. The most significant objective of preparing and submitting this report is to completion of
the BBA program.
2. To gain practical experience in the job field is another most important objective.
3. To have a clear idea about the foreign exchange performance of EXIM Bank Limited is
also required.
1.3 Scope of the Report:
This report provides a brief idea about the banking functions, management, organizational
structure, foreign exchange activities – export and import, foreign remittance, financial
performance, performance of foreign exchange activities and risk management. The report
mainly focuses on the banking performance of EXIM Bank Limited from 2015 to 2017. The
report also highlighted the SOWT analysis of this bank. The report mainly concerned with
the performance of EXIM Bank.

Page - 2
1.4 Origin of the Study:
Foreign Exchange is playing an increasing large role in the economies of many countries,
contributing to economic growth and to live livelihoods of needy people (though generally
not the poorest of the poor). As remittance receives often have a higher propensity to own a
bank account, remittances promote access to financial services for the sender and recipient,
an essential aspect of leveraging remittances to promote economic development. Foreign
remittance is the latest banking technology and the most rapidly diffused banking technology
throughout the world.
Now, in a world, which is becoming increasingly open as a result of the internet, Foreign
Exchange Banking has been gaining ground around the globe. This offers banking institution
a new frontier of opportunities and challenges, the government of Bangladesh provided the
legal framework for domestic to offer the online banking services. After study in this area I
have got the overall scenario of the country’s foreign remittance and the obstacles on the way
of ramification. This study enhances my experience about foreign remittance in Bangladesh
which will help in my future career or life. It is hoped that the study will be able to contribute
greatly to the literature of foreign remittance into Bangladesh. The identification of major
problems and assertive recommendations will have much effect in the policy formulations of
EXIM Bank authority as well as banking sector of our country.
1.5 Methodology:
Using both of the two sources – primary and secondary has collected data.

Sources

Primary Secondary

The primary sources of data:

 Face to face conversation with the Bank officers and staffs.
 Direct conversation with the clients.
 File study of different sections.
 Deskwork: during my practical orientation I worked in head office and Dupadighirpar
Branch.
 In head office I worked in foreign and credit division. In Dupadighirpar Branch I
worked in the Sections.

Page - 3
The secondary sources of data:
 Annual Report of EXIM Bank of Bangladesh Ltd., 2017.
 Deferment paper of EXIM Bank.
 Unpublished data received from the head office and branch.
 Different 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 EXIM Bank Ltd. based on financial data.
To collect necessary information I used questionnaire method, which is shown in the chapter
six. I have given some recommendations to solve the problems of EXIM Bank Ltd. as per my
own thought.
1.6 Limitations of the Study:
This is an individual research work where only one individual researcher needs to undertake
the whole process done alone. In all remain within I failed to escape by any means. These are
as follows:
1. Two months time for internship is a pretty short time to acquire in depth knowledge about
all the departments of EXIM Bank Limited.
2. To collect information I faced difficulty because of the excessive nature of confidentiality.
3. EXIM Bank is an Islamic bank for that reason I face some problems to understand their
products & facilities they provide. Because some of the rules of the Islamic banking are
different from the general banking rules.
4. It requires a lot of assistance from all level officers and stuff but as a bank the officer was
busy in doing their jobs.
5. Since I was confined by a specific topic and should work on the topic related department
(foreign exchange) but some time I need to worked in different department so it is not
possible to learn hundred percent on that topic.
6. The study was limited by the availability of the data.

Page - 4
 Chapter- 02

Banking Industry of Bangladesh

Page - 5
2.0 Definition of Bank:
The Jews in Jerusalem introduced a kind of banking in the form of money lending before the
birth of Christ. The word ‘Bank’ was probably derived from the word ‘bench’ as during
ancient time Jews used to do money -lending business sitting on long benches.
First modern banking was introduced in 1668 in Stockholm as ‘Savings Pis Bank’ which
opened up a new era of banking activities throughout the European Mainland.
In the South Asian region, early banking system was introduced by the Afghan traders
popularly known as Kabuliwallas. Muslim businessmen from Kabul, Afghanistan came to
India and started money lending business in exchange of interest sometime in 1312 A.D.
They were known as ‘Kabuliwallas
Banks have influenced economies and politics for centuries. Historically, the primary purpose
of a bank was to provide loans to trading companies. Banks provided funds to allow
businesses to purchase inventory, and collected those funds back with interest when the
goods were sold. For centuries, the banking industry only dealt with businesses, not
consumers. Banking services have expanded to include services directed at individuals, and
risk in these much smaller transactions are pooled.
The name bank derives from the Italian word banco “desk/bench”, used during the
Renaissance by Florentines bankers, who used to make their transactions above a desk
covered by a green tablecloth. However, there are traces of banking activity even in ancient
times. In fact, the word traces its origins back to the Ancient Roman Empire, where
moneylenders would set up their stalls in the middle of enclosed courtyards called macella on
a long bench called a bancu, from which the words banco and bank are derived. As a
moneychanger, the merchant at the bancu did not so much invest money as merely convert
the foreign currency into the only legal tender in Rome—that of the Imperial Mint.
2.1 Definition of Banker:
A banker is responsible for establishing and maintaining positive customer relationships,
planning and delivering effective sales strategies and monitoring the progress of new
and existing financial products. Bankers may work as managers in high street
branches providing operational support on a day-to day basis, or in more specialized posts
in corporate or commercial departments at area, regional or head offices.
2.2 Definition of Banking:
Banking is the process through which an institution, most often owned by the
government, Provides financial services. They include collecting deposits, landing money

Page - 6
and issuing debit and credit cards. Banking is the process of performing the activities of a
Bank.
2.3 Law of Banking:
Banking law is based on a contractual analysis of the relationship between the bank and the
customer. The definition of bank is given above, and the definition of customer is any person
for whom the bank agrees to conduct an account.
The law implies rights and obligations into this relationship as follows:
The bank account balance is the financial position between the bank and the customer,
when the account is in credit, the bank owes the balance to the customer, when the
account is overdrawn, and the customer owes the balance to the bank.
The bank engages to pay the customer’s cheques up to the amount standing to the
credit of the customer’s account, plus any agreed overdraft limit.
The bank may not pay from the customer’s account without a mandate from the
customer, e.g. a cheque drawn by the customer.
The bank engages to promptly collect the cheques deposited to the customer’s account
as the customer’s agent, and to credit the proceeds to the customer’s account.
Right to combine the customer’s accounts, since each account is just an aspect of the
same credit relationship.
The bank has a lien on cheques deposited to the customer’s account, to the extent that
the customer is indebted to the bank.
The bank must not disclose the details of the transactions going through the
customer’s account unless the customer consents, there is a public duty to disclose,
the bank’s interests require it, or under compulsion of law.
2.4 Banking in Bangladeshi Perspective:
Banking is the backbone of the national economy. All sorts of economic & financial activities
revolve round the axis of the bank. As the industry produces goods & commodities, so does
the banks create & control the money market & promotes the formation of the capital. From
the point of view banking a technical profession can be termed as industry. Services to its
customers are the products of the banking industry besides being a pivotal factor in
promoting capital formation in the country. As all economic & fiscal activities revolve round
this important industry, the role of banking can hardly be over emphasized.
Circumstances being such, it becomes imperative to find out the role of banks now playing in
the country & analyze its operational aspects so as to ascertain the importance of this fragile

Page - 7
financial sector & its overall impact on the national economy. To do this a thorough study as
to its distribution, expansion & contribution is essential to comprehend its past, present &
future bearings for the growth & development of the banking sector of the country.
In global context, the role of banks is far reaching & more penetrating in the economic &
fiscal discipline, trade, commerce, industry, export & import et5c all are carried through the
banks. Banks are the only media through which the international trade & commerce are being
carried out .Moreover the entire credit transaction, both national & international is done
through the banks.
2.5. Features of a Bank:
The features of a bank are given below:-
Bank is a financial institution which deals with other people’s money i.e. money
given by depositors.
A bank accepts money from the people in the form of deposits which are usually
repayable on demand or after the expiry of a fixed period.
A bank provides easy payment and withdrawal facility to its customers in the form of
cheques and drafts.
A bank works as an agent for its customer and provides utility services.
Banks make loans to consumers, businesses and organizations. Loans represent fund
that are extended by the bank to the creditor who agrees to pay the fund back, with
interest, over a specified time period.
Banks are operated with the objective of making a profit. Their fee structure and
interest rate is designed with the intention of making money for owners and
shareholders.
A bank acts as a connecting link between borrowers and lenders of money. Bank
collects money from those who have surplus money and give to those who are in need
of money.

Page - 8
2.6. Functions of a Bank:
The function of Bank can be categorized into the following categories:-

Figure: function of Bank

2.7. History of banking industry in Bangladesh:

After independence the government of People’s Republic of Bangladesh was formally to
cover The charge of administration of the territory now constitute Bangladesh. In an attempt
to rehabilitate the war-devastated banking of Bangladesh, the government promulgated a law
called Bangladesh Bank (temporary order, 1971 (Acting president’s order No.2 of 1971). By
This order, the state bank of Pakistan was declared to be deemed as offices, branches and
Assets of Bangladesh Bank. On that date there existed 14 scheduled banks with about 3042
branches all over the country.
After the independence, banking industry in Bangladesh started its journey with 6
nationalized commercialized Banks, 2 State owned specialized Banks and 3 Foreign Banks.
In the 1980s Banking Industry achieved significant expansion with the entrance of Private
Banks. Now, Banks in Bangladesh are primarily of two types:

Scheduled Banks
Non- Scheduled Banks

Page - 9
2.7.1. Scheduled Banks:
The banks which get license to operate under Bank Company Act, 1991 (Amended in 2003)
are Termed as Scheduled Banks. Banks which are included in the list of central Banks are
termed as Scheduled Banks.
2.7.2. Non- Scheduled Banks:
The banks which are established for special and definite objective and operate under the acts
that are enacted for meeting up those objectives, are termed as Non-scheduled Banks. These
Banks cannot perform all functions of scheduled Banks
2.8 History of Islami Bank in Bangladesh:
Establishment of Islamic Development Bank (IDB) by the OIC member states in the year
1975 has been proved to be a breakthrough in the expansion of Islamic Shariah based finance
and specially banking throughout the world. As a founder member of IDB, the Government
of Bangladesh also had the commitment to establish Islamic banks which was reflected in
different steps taken by the governments of the country. The OIC members consented to the
proposals to introduce Islamic economy and banking in their respective countries held in the
foreign ministers’ conferences in 1978 and 1980 in Dakar and Islamabad respectively. In the
year 1981, OIC in its 3rd summit held in Makkah approved the proposition submitted by
Bangladesh to introduce separate banking system following Islamic ideology. As per
decision, the GOB sent representatives to the Middle Eastern countries to learn the existing
banking systems in those countries.
In the private sector, the Islamic Economics Research Bureau (IERB) was the first
organization that took active initiative in this regard. They arranged a national seminar on
Islamic Economics and Banking in the year 1979 and inspired by the discussion and the
papers presented in the seminars, some local bankers formed ‘Islami Bank Working Group’.
The IERB again arranged an international seminar in 1980. After the seminar, Dhaka based
‘Muslim Businessman Society’ (later renamed as ‘Industrialist and Businessmen
Association’) under the leadership of renowned industrialist Abdur Razzaque Lasker, took
initiative to establish an Islamic bank and applied to the government for permission. At this
stage, the GOB provided necessary permission in the year 1983 and at last ‘Islami Bank
Bangladesh’ was registered under Company Act in which 19 Bangladeshi national, 4
Bangladeshi institutions and 11 banks, financial institutions and government bodies of the
Middle East and Europe including IDB and two eminent perEXIMties of the Kingdom of
Saudi Arabia joined hands to make the dream a reality.

Page - 10
In that way, EXIM Bank came in to operation as scheduled commercial bank on 3rd August
1999 as per rules and regulations of Bangladesh Bank. It is established under the leadership
of Late Mr. Shahjahan Kabir, founder chairman who had a long dream of floating a
commercial bank which would contribute to the socio-economic development of our country.
2.9. Banks of Bangladesh at a glance:
1. Central Bank
2. State-owned commercial Banks
3. Private commercial Banks
4. Specialized Banks
a) schedule specialized Banks
b) Non- Scheduled Specialized Banks
c) Micro-Finance Organizations ( Semi formal)
d) Co-Operative Banks
5. Non-Banking Financial institutions
a) merchant Banking companies
b) .housing development finance companies
c) Stock Exchange
d) Insurance Companies
6. Other banks:
a. Retail Bank
b. Unit Bank
c. Branch Bank
d. chain Banking
e. group Banking

2.9.1. Central Bank:

The central bank is the organ of the government that performs the major financial operations
Of the government, monitors and controls the functions of commercial Bank for the
economic Development of a country. every country of the world has a central bank.
according to the pursuant to Bangladesh Bank Order-1972, the Government of Bangladesh
reorganized the Dhaka branch of the State Bank of Pakistan as the central bank of the
country, and named it Bangladesh Bank with rerespective effect from 16 December 1971.

Page - 11
2.9.2. State-owned Commercial Banks:
State –owned Banks are functioning as nationalist. Among the state owned Banks, six are
Commercial and two are specialized. Here is the list:
State-owned Commercial Banks:
1. EXIM Bank Limited
2. Janata Bank Limited
3. Agrani Bank Limited
4. Rupali Bank Limited
5. Basic Bank Limited

Bangladesh Development Bank Limited

2.9.3. Private commercial Banks:
1. AB Bank Limited
2. Bangladesh Commerce Bank Limited
3. Bank Asia Limited
4 . BRAC Bank Limited
5. City Bank Limited
6. Dhaka Bank Limited
7. Dutch Bangla Bank Limited
8. Eastern Bank Limited
9. IFIC Bank Limited
10. Jamuna Bank Limited
11.meghna Bank Limited
12.Mercantile Bank Limited
13. Midland Bank Limited
14. Modhumoti Bank Limited
15. Mutual Trust Bank Limited
16. National Bank limited
17. NCC Bank Limited
18. NRB Bank Limited
19.NRB Commercial Bank Limited
20. NRB Global Bank Limited
21. One Bank Limited
22. Premier Bank Limited

Page - 12
23. Prime Bank Limited
24. Pubali Bank Limited
25. South Bangla Agriculture and commerce Bank Limited
26. Southeast Bank Limited
27. Standard Bank Limited
28. The Farmers Bank Limited
29. Trust Bank Bangladesh Limited
30. United Commercial Bank Limited
31. Uttara Bank Limited
Islamic Commercial Banks in Bangladesh:
There are eight Islamic Commercial Banks currently operating in Bangladesh. These are:
1. Islami Bank Bangladesh Limited
2. Al- Arafah Islami Bank Limited
3. Export import Bank of Bangladesh Limited
4. Social Islami Bank limited
5. Shahjalal Islami Bank Limited
6. First security islami Bank Limited
7. Union Bank Limited
8. ICB Islamic Bank Limited

Foreign Commercial Banks:

There are nine foreign commercial Banks currently operating in Bangladesh. These are:
1. Bank AL-Falah Limited
2. City Bank NA
3. commercial Bank of Ceylon
4. Habib Bank Limited
5. HSBC (The Hong Kong and Shanghai Banking Corporation Ltd)
6. National Bank of Pakistan
7. Standard Charted bank
8. State Bank of India
9. Woori Bank
2.9.4. Non-Banking Financial Institutions:

1. Agrani SME Financing Company Limited

Page - 13
2. Bangladesh Finance and Investment Company Limited
3. Bangladesh Industrial Finance Company Limited
4. Bangladesh Infrastructure Finance Fund Limited
5. Bay Leasing And Investment Limited
6. CAPM Venture Capital and Finance Limited
7.Delta Brac Housing Finance Corporation Limited
8.Far-east Finance & investment Limited
9. FAS finance & Investment Limited
10. First Finance Limited
11. GSP Finance Company (Bangladesh) Limited
12.Hajj Finance Company Limited
13. IDLC Finance Limited
14. Industrial and Infrastructure Development Finance Company Limited
15. Industrial Promotion and development Company of Bangladesh Limited
16. Infrastructure Development Company Limited
17. International Leasing and Financial Services Limited
18. Islamic Finance and investment Limited
19. Lanka Bangla Finance Limited
20. Meridian Finance and Investment Limited
21. MIDAS Financing Limited
22. National Finance Limited

Page - 14
 Chapter - 03
Overview OF EXIM Bank of
Bangladesh Limited

Page - 15
3.1 Background of the Bank:
EXIM Bank came in to operation as scheduled commercial bank on 3rd August 1999 as per
rules and regulations of Bangladesh Bank. It is established under the leadership of Late Mr.
Shahjahan Kabir, founder chairman who had a long dream of floating a commercial bank
which would contribute to the socio-economic development of our country. He had a long
experience as a good banker. A group of highly qualified and successful entrepreneurs joined
their hands with the founder chairman to materialize his dream. Indeed, all of them proved
themselves in their respective business as most successful star with their endeavor,
intelligence, hard working and talent entrepreneurship. Among them, Mr. Nazrul Islam
Mazumder became the honorable chairman after the demise of the honorable founder
chairman. Of its very beginning EXIM Bank Bangladesh limited was known as BEXIM Bank
Limited. But some legal constraints the bank renamed as EXIM Bank, which means Export
Import Bank of Bangladesh Limited. At present the bank is performing its work all over the
country by 53 branches. The bank has migrated all of its conventional banking operation into
Shariah based Islamic banking since July/2004.
3.2 Vision of EXIM Bank Limited:
The gist of the vision is “Together towards Tomorrow”. Export Import Bank of Bangladesh
Limited believes in togetherness with its customers, in its march on the road to growth and
progress with service. To achieve the desired goal, there will be pursuit of excellence at all
stages with a climate of continuous improvement, because, in EXIM Bank, we believe, the
line of excellence is never ending. Banks strategic plans and networking will strengthen its
competitive edge over others in rapidly changing competitive environment. Its perEXIMzed
quality services to the customers with the trend of constant improvement will be the keystone
to achieve our operational success.
3.3 Mission of EXIM Bank Limited:
The bank has chalked out the following corporate objectives in order to ensure smooth
achievement of its goals-
To be the most caring and customer friendly and service oriented bank.
To create a technology based most efficient banking environment for its customers.
To ensure ethics and transparency at all levels.
To ensure sustainable growth and establish full value to the honorable stakeholders
and
Above all, to add effective contribution to the national economy.

Page - 16
Eventually the bank also emphasis on-
Provide high quality financial services in export and import trade.
Providing efficient customer service.
Maintaining corporate and business ethics.
Being the trusted depository of customers money and their financial adviser.
Making its products superior and rewarding to the customers.
Display team spirit and professionalism.
Sound capital base.
Enhancement of shareholders wealth.
Fulfilling its social commitment by expanding its charitable and humanitarian
activities.
3.4 Corporate Culture:
This bank is one of the most regimented banks with an idiosyncratic corporate culture. Here
we believe in shared meaning, shared understanding and shared sense making. Bank’s people
can see and understand events, activities, objects and situation in a distinguishing way. They
mould their manners and etiquette, character individually to suit the purpose of the bank and
the needs of the customers who are of paramount importance to the bank. The personnel in
the bank see themselves as a tight knit team / family that believe in working together for
growth. The corporate culture of bank belong has not been imposed; it has rather been
achieved through bank’s corporate demeanor.
3.5 Prime Operational Area:
As a full-fledged is lamic bank in Bangladesh, EXIM Bank has extended all islamic services
including wide range of saving and investment products, foreign exchange and ancillary
services with the support of sophisticated IT and professional management. The investment
portfolio of the bank comprises of diversified areas of business and industry sectors. The
sectors include textile, edible oil, ready-made garments, chemicals, cement, telecom, steel,
real estate, and other service industry including general trade finance. The bank has given
greatest important to acquire quality assets and is committed to retain good customers
through customer relationship management and financial counseling. At the same time efforts
have been made to explore or induct new clients having good potentiality to diversify and
create a well- established structured investment portfolio and to minimize overall portfolio
risks.

Page - 17
3. 6 Products & Services of EXIM Bank Limited:
Deposit Products: Investment Products:
1. Al-Wadiah Current Deposit Account. 1. Corporate Finance.
2. Mudaraba savings deposit account 2. Commercial Finance.
(MSD, MSTD, RFCD, and NFCD).
3. Mudaraba Term Deposit Receipt. 3. Industrial Finance.
4. Mudaraba monthly saving scheme. 4. Project Finance.
5. Mudaraba monthly income scheme. 5. Lease Finance.
6. Mudaraba Super Savings Scheme. 6. Syndicate Finance.
7. Mudaraba Hajj Scheme 7. Hire Purchase Finance.
8. Real Estate Finance.
3.7 Social Commitment:
The purpose of company business is, obviously, to earn profit, but the promoters and the
equity holders are aware of their commitment to the society to which they belong. A chunk of
the profit is kept aside and/or spent for socio-economic development through trustee and in
patronization of art, culture and sports of the country. At least 2% of our annual profit of
every year put aside for the foundation to conduct Corporate Social Responsibilities (CSR)
activities. The mainstream of CSR activity that carries out through this foundation is:
 Healthcare services.
 Education Promotion Scheme (Interest free loan).
 Helping people affected by natural calamities.
 Helping people in slum areas.
 Donation to educational institutions to setup computer lab.
 Beautification of Dhaka City.
3.8 Achievements:
It is a great pleasure that by the grace of Almighty Allah, we have migrated at a time all the
branches from its conventional banking operation into Shariah based Islamic banking
operation without any trouble in 2004. Lot of uncertainties and adversities were there into
this migration process. The officers and executives of our bank motivated the valued
customers by counseling and persuasion in light with the spirit of Islam especially for the
non-Muslim customers. Our IT division has done the excellent job of converting and fitting
the conventional business processes into the processes based on Shariah. It has been made

Page - 18
possible by following a systematic procedure of migration under the leadership of honorable
Managing Director.
3.9 Management Profile and Divisions:
EXIM Bank Limited has does this work very well. Different departments of EXIM Bank
Limited are as follows:
 Financial Administration Division., Head Office
 Human Resources Division, Head Office
 International Division, Head Office
 EXIM Bank Training Institute
 Information Technology Division, Head Office
 Special Audit Division, Head Office, Dhaka.
 Accounts Division
 Treasury Division
 Operations Division
 Investment Division.
3.10 Human Resource Practices in EXIM Bank Limited:
Employees are the core resources of any organization. Without them, one cannot run their
organization. And, human resources approach is concerned with the growth and development
of people toward higher level of competency, creativity and fulfillment. It helps employees
become better, more responsible persons, and then it tries to create a climate in which they
may contribute to the limits of their improved abilities. It assumes that expanded capabilities
and opportunities for people will lead directly to improvements in operating effectiveness.
Essentially, the human resources approach means that better people achieve better results.
3.11 Shariah Board:
The Board of directors has formed a Sharia Supervisory Board for the Bank. Their duty is to
monitor the entire Bank’s transactional procedures, & assuring its Sharia compliancy. This
board consists of the following members headed by the chairmn.
The tasks of the Sharia supervisor in summary is replying to queries of the Bank’s
administration, staff members, shareholders, depositors, & customers, follow up with the
Sharia auditors and provide them with guidance, submitting reports & remarks to the Fatwa
& Sharia Supervision Board and the administration, participating in the Bank’s training
programs, participating in the supervision over the AlIqtisad AlIslami magazine, & handling
the duty of being the General Secretary of the Board.

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3.12 Shariah Council:
Chairman:
Professor Maulana mohammad salah uddin
Members:
Moulana Mohammad Sadequl Islam
Professor H.M. Shahidul Islam Barakaty
Mr. A.S.M. Fakhrul Ahsan
Hafez Moulana Mufti Mohammad Khair Ullah
Mr. Md. Nazrul Islam Mazumder
Mr. A.K.M Nurul Fazal Bulbul
Mr. Md. Abdul Mannan
|Mr. Zubayer Kabir |
|Mr. Abdullah Al-Zahir Sawpan |
|Mr. Kazi Masihur Rahman |
3.13 Corporate Information:
Matters Information Credit Rating Information
Date of incorporation June 02,1999 Long term ‘AA-’(High Safety)
Inauguration August 03, 1999 Short term ST-2’(High Grade)
Authorized capital Tk.1000.00 Notification of June 02, 2010
Corer reporting
Paid-up capital Tk. 337.39 Registered office “SYMPHONY”
Corer
Number of branches 80 Plot No. SE (F): 9 Road No .142
Proposed branches 10 Gulshan Avenue, Dhaka-1212,
Bangladesh
Fax: 880-2-988 9358 PABX: 880-2-988 9363,
SWIFT: EXIMBKBDDH Website : www.eximbankbd.com
|Foreign Exchange:
Non Resident Foreign Currency Deposit Account.
Foreign Currency Deposit Account.

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3.13 Deposit:
1. Al-Wadia Current Deposit
2. Mudaharaba Saving Deposit:
 Mudaraba Monthly Saving Scheme (Money Grower)
 Mudaraba Monthly Income Scheme (Steady Money)
3. Mudaraba Super saving Scheme (Double in6Years)
 Mudaraba Multiple Saving Scheme (More than triple in 10years)
 Mudaraba Education Saving Scheme
4. Mudaraba Short Term Deposit
One Month Three Months
Six Months Twelve Months
Twenty Four Months Thirty Six Months

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 Chapter- 04
Foreign Remittance Activities of
EXIM Bank Ltd

Page - 22
4.0 Meaning of Remittance:
Foreign Remittance is a process which is converted one national currency into another and
transferred money from one country to another country. Foreign Remittance refers to the
process or mechanism by which the currency of one country is converted into the currency of
another country. Foreign Remittance is the means and methods by which rights to wealth in a
country’s currency are converted into rights to wealth in another country’s currency. In banks
when we talk of foreign exchange, we refer to the general mechanism by which a bank
converts currency of one country into that of another. Foreign trade gives rise to foreign
exchange. Modern banks facilitate trade and commerce by rendering valuable services to the
business community. According to Foreign Remittance regulation act 1947, “Anything that
conveys the right to wealth in another country is foreign exchange”. Foreign Remittance
department plays significant roles through providing different services for the customers.
Opening or issuing letters of credit is one or the important services provided by the banks.
Foreign Remittance:
Foreign remittance is the transfer of foreign currency from one country to another country.
Actually, foreign remittance is purchase and sale of freely convertible foreign currencies as
permissible under exchange control regulations of the country. Foreign remittance is very
important for the country as valuable foreign exchange is involved in the transfer mechanism.

Issuing Paying
Remitter Branch Branch Payee

Chart: Bank Remittances Flow

4.1 Process of foreign remittance:

Fund transfer from one country to another country goes through a process which is known as
remitting process. Export Import Bank of Bangladesh Limited has 83 domestic branches.
 Now, the Bangladeshi expatriates will contact with Standard Charted Bank to remit
fund to Bangladesh.
 Then Standard Charted Bank will credit the "NOSTRO A/C" of Export Import Bank of
Bangladesh Limited and send the Message through SWIFT.
 Next the local bank's Head Office international division will receive telex message
and the TFMD will record the advice and generate the advice letter to the respective
branch of the bank.

Page - 23
  The branch will first decode the test, verify Signature and check the account number and
name of the beneficiary.
 After full satisfaction, the branch transfers the amount to the account of the
beneficiary and intimates the beneficiary accordingly.
 But sometimes the complexity arises, if the foreign Bank has no "Nostro Account" in
which country where the expatriates want to remit fund. Then the Foreign Bank has to take
help of a third bank who has "Nostro Account" with intended Bank.
4.2 Types of Remittance:
There are two types of foreign remittance

Foreign
Remittance

Inward Outward
Foreign Foreign
Remittance Remittance

Inward foreign remittance:

Inward Foreign Remittance means Remittance received from foreign countries from abroad.
To the bankers or ADs inward remittance means purchase of foreign currency by authorized
dealers.
In other words remittance coming into our country from other countries by the remitter by
way of permissible banking channel is called 'Inward Foreign Remittance' i.e. beneficiaries
point of view it is inward foreign remittance. On the other hand remitter's point of view it is
called outward Foreign Remittance.

Page - 24
Ways of Inward Foreign Remittance:

Spot
Cash.

TC FTT

FDD

Spot cash
 Only from Foreign Exchange House Spot Cash can be send to Bank.
 No need to have account receiver.
 Photocopy of NID or student ID and PIN code are must for receiving money.
 Service charge is gained by Bank.
FTT:
 From Bank remitter can send fund to beneficiary.
 Here account is must for beneficiary. Because fund is credited to beneficiary's
account.
 Then beneficiary can withdraw money as his/her necessity.
 Here the Foreign Bank credit the NOSTRO account of NBL.
 In case of outward remittance it is vice versa.
FDD:
 It is instrument.
 Here instrument is given to the concern Bank from which it is taken.
 Here purpose may be many such as, payment to anybody, for Business issue, may be
travelling etc.
 It is collection basis that means Banks normally takes 3 to 4 days for payment.
 After giving payment NOSTRO account is debited.
 In case of NBL there must have two officers signature in this instrument.
 In case of outward remittance it is vice versa.
TC:

Page - 25
  It is an instrument.
 Here the format of intermediary Bank is used.
 Normally American Express Travelers Cheque or Standard chartered TC is used.
 That means here standard format is used.
 It is on cash basis. That means after taking the TC the fund is readily available.
 In case of outward remittance it is vice versa.
Outward remittance:
Remittance from our country to foreign countries is called outward foreign remittance. On the
other word, sales of foreign currency by the authorized dealer or formal channels may be
addressed as outward remittance. The remitter has to deposit money along with the
application contains name and address of the payee name of the currency etc. All outward
remittances must cover the transactions approved by the Bangladesh Bank. The authorized
dealers must utmost caution to ensure that foreign currencies remitted or released by them are
used only for the purposes for which they are released. Outward remittance may be made by
appropriate method to the country to which remittance is authorized.

Purposes of Outward Remittance:

Medical
Travel treatment

Attending Educational
seminar etc. purpose.

Page - 26
Ways of outward Foreign Remittance:

FTT

TC FDD
4.3 Purpose of foreign remittance
 Fam ily m aintenance
 Treatm ent
 Educational Fees
 Business developm ent
 Marr iage Expenses
 Air tickets or visa processing for wage earners
 Hajj perform ance Expense
 Gift and donation
 Land purchase
 Construction of house building or commercial complex
 Buying of flat or apartment
 Purchase of plot from real estate company

 Buying of USD dollar investment or premium bonds

4.4 Features of Foreign Remittance:

 Easy process
 Quick
 Low cost
 Secret
 Reliable and trustworthy

4.5 Benefits of Foreign Remittance:

 Increase bank's core deposit.

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  Bank earns profit to provide foreign remittance service.
 Increase number of account of the bank.
 Help to develop economic growth.
 Reduce the poverty level of the country.
4.6 Negative Aspects and Potential Drawbacks
 When the immigrants continuously remit funds to their home countries, the potential
exists for the receiving community to become dependent upon those remittances. An
abrupt halt in the flow of remittances in such a case can be devastating.
 Another potential drawback informs the debate as to whether remittance transfers,
as a whole, increase or decrease inequality between the haves and the have-nots.
4.7 Mode of Foreign Remittance Services:
Remittances money sent from one person to another in any form generally to another
country. The Bank provides this facility in various ways. The customer can choose any mode
of remittance depending on the time available for sending the remittance. Given below is the
list of the common remittance options.

Mode of Remittance Normal Time Taken

Instant Transfer Instantaneously

Online remittance 1 to 5 days depending on the mode of online remittance chosen.

Speed remittance Within 1 day

SWIFT 1 to 3 days depending on the location of beneficiary branch.

Draft/Cashier’s Cheque 7 days to 28 days

International Money order 7 days to 28 days

Foreign Currency Cheque 7 days to 28 days

The process for the receiver:

The remittance which comes from the Head office of Export Import Bank of Bangladesh
Limited is divided into two parts. These are:
1. Special Instruction Payment
2. Instant Cash paym ent
Some of the payments are given with special instruction such as: to the Account of Export
Import Bank of Bangladesh Limited's customer or to the Account of another Bank's

Page - 28
customer. That is, payment is made to the account of that particular person to whom the
remittance is sent. For the customers those who have account in Export Import Bank of
Bangladesh Limited the balance is transferred directly from the CFRC account. And for the
customer Bank's customer the payment is made either by issuing a payment order or by
telegraphic transfer. And for instant cash payment the customer is required to fill up a form. The
form contains following fields:

1) Receiver information must be have:

 Name of the receiver
 Father's/Husbands name
 Address
 National ID No. /Passport No. / Account No. / Driving license No.
 Phone Number
 Expected amount in figure & words
 Pin code number
 Test answer: who sent money?
 Finally, receiver signature
2) Sender Information
 Name (First-middle-last)
 Address
 Phone no.

After filling up the form, the customer gives the form to the remittance officer. Then the
remittance officer makes sure that the remittance is received on account of the customer from
the head office. After that the officer matches the identification/Pin code and receiver details.
And for security get a photocopy of valid I.D of the customer. Sometimes the I.D type is
mentioned. In that case the customer has to submit the mentioned I.D to receive payment.
Many of the senders give the mobile number of receiver; in that case the bank checks the
mobile number of the receiver. The photocopy of valid I.D is kept for security purpose, mainly
to avoid fraud. There are two purpose of taking photocopy of a valid I.D from customer. These
are - to have a track of the customer, and to be sure that the remittance is reaching to the right
person.

Page - 29
4.8 Foreign remittance performance analysis of Export Import Bank of
Bangladesh Limited.
Export Import Bank of Bangladesh Limited facilitates Remittance Service to the remitters
and the beneficiaries to ensure their contribution to the national economy of Bangladesh. In
this regard, the bank has established 2 Exchange Houses in UK & Canada which are fully
owned subsidiaries of Export Import Bank of Bangladesh Limited. Besides, the bank has
Drawing/Agency arrangements with some other Exchange Houses and Money Transfer
companies around the world.
This bank is authorized dealer to deal in foreign exchange business. As an authorized dealer,
a bank must provide some services to the clients regarding foreign exchange and this
department provides these services. The basic function of this department are outward and
inward remittance of foreign exchange from one country to another country.
The Bank has also a strong and highly experienced dedicated team at its Foreign Remittance
Department, Head office, for ensuring smooth operation of remittance service.
Foreign Remittance Performance by the Export Import Bank of Bangladesh Limited
gradually has an increasing trend over the last five years. Foreign Remittance Performance by
the export import bank of Bangladesh limited for the last five years is as follows:
4.9 Functions of Foreign Exchange Department
Foreign exchange department performs many functions to facilitate the foreign exchange
transactions. These functions are:
 Facilitating import trade
 Facilitating export trade
 Provide funded and non-funded credit facility
 Maintaining foreign currency accounts
 Selling of foreign currency bonds
The foreign exchange department consists of mainly two sections- L/C operations and foreign
Remittance, which perform all the functions mentioned above.
4.10 Local Remittance Section
The commercial Bank Remittance facilities to its customer is to enable them top avoid risk
rising out of profit or loss in cash carrying cash money to one place to another or making
payment to someone in another places. Banks take this risk remit the fund on behalf of the
customers to save them from any awkward happening through the network of their branches

Page - 30
and ensure payment to the beneficiary in exchange of a little bit benefit known as
commission. There are four mode of remitting money from one place to another.

Mail
Transfer

Local
Telegraphic
Pay Order Remittance
Transfer
Section

Demand
Draft

Page - 31
 Chapter - 05
Description of the Tasks
Completed During Internship

Page - 32
5.0 My experience in EXIM Bank Limited:
In EXIM Bank Ltd. I worked in the General Banking department. I was placed in the account
opening section. I was responsible for opening all type of account of the customer. It was a
great experience for me because I achieved a lot of practical and professional knowledge. The
office environment is very pretty and friendly. All employees are very responsive and caring.
They always helped me to learn extensively. Employees were doing their job as a team. They
help each other in every situation. They accepted me cordially and treated me as their team
member. In the account opening section at first customer used to come for creating account/s
then I tried to discover the purpose of the account of the customer. If the customer were
confident enough about the account type then only I proceeded further otherwise I suggested
them the type of account that suited them the most and the photocopy of the documents (like:
Passport sized photograph, National ID card of account holder & Nomine, TIN Certificate,
Trade license etc) they were needed to submit to the bank. Upon submission, I verified all the
relevant documents and necessary information. Further, I used to take signature of the
applicant in the prescribed account opening form of UBL. I used to fill up the account
opening form and get verified by the relationship manager. Then I entered that information
into the Bank’s online system. Then, the customer used to get the account number and they
had to deposit minimum amount in that account number. In this way different accounts were
created by me and future transactions were carried out in those accounts. With this
responsibility I also used to write debit/credit vouchers, pay order, deposit slips, cheques etc.
All in all, it was a great time when I was doing my internship in UBL. It was a great official
environment. Really, I achieved fruitful knowledge from this bank and the employees. I think
this experience will make my future career path more suitable and easy.
 Account Section:
I had to work on account section of Sylhet Branch. I had to collect necessary documents from
the customers those who came to open account of Sylhet Branch. Documents like TIN
certificates, Trade license, National ID Card, Photo of Holder and nominees etc.
 Update customer’s information:
My prime job at Sylhet Branch was to update customer’s information. Customers who
opened their bank account before May 2018, they need to update their information and also
photo, address, transaction profile, National ID no. etc. and I had to collect all information
from the customers.

Page - 33
 Fill-up debit card forms:
I had to collect debit card requisition from the customers and filled up necessary papers. After
filled up debit card form I had to send the papers to the card division of head branch.
 Account opening:
I had to open all types of bank account and collect necessary documents from the customers.
 Account closing:
I had to close all types of bank account when the customers want or over the maturity the
account.
 Address change & Name correction of the customers:
My key job was to correct customers name and address if changes necessary. I had to contact
with customers via phone and had to inform that their address or name have to correct.
 Calculate the Depreciation of Fixed Assets:
In the month of June - July they need to calculate the depreciation of their fixed assets. They
give me opportunity to calculate this.
 Salary Calculation:
As I passed my more time in Account section so I have learned how they calculate the salary
and bonus ending of the month so I can help them to calculate the salary and bonus of
employee.
 Cheque book issue:
UBL provides to types of cheque book they are MICR and Non MICR. I have learned how
those books issued so I did it. Write down the Dr. and Cr. Voucher: I wrote their Dr. and Cr.
Voucher because of their internal maintain activities.
 Foreign Remittance Department:
I was assigned to Foreign Remittance Department under direct supervision of Md Khair who
is a senior officer in Sylhet Branch. My job was to work where ever needed in remittance
department.
 At first I have to check the foreign remittance message where the pin number is
written then whenever I saw the pin number I can understand that which exchange
company provides this number because there is a pattern in pin number.
 Then I have to collect information from customer and help them to write their
applicant form.
 After this my supervisor used to check this pin number.
 Then when everything is all right I used to write debit voucher.

Page - 34
  Entry this transaction in a register
 Other then this I during lunch I used to serve customers.
5.1 Importance of Internship:
Goods and services are produced for the purpose of using in daily life. Similarly, Theoretical
knowledge is acquired for the purpose of applying in the practical life. The propensity of
application of theoretical knowledge in practical life successfully internship program is
absolutely necessary because theoretical knowledge will be fruitful if it can be applied in the
practical life. When we can implement the theoretical knowledge practically, we can say the
knowledge is successful; otherwise the achieved knowledge is valueless. Internship program
is the way of implementing the theoretical knowledge practically. However, the importance
of internship may be described in the following ways:
 As internship program is the practical implementation of the theoretical knowledge, it
helps to increase the quality and effectiveness of the trainer.
 We can only know the problems of an organization in directly through theoretical
knowledge, but we can know the nature of the problems, problems of the various departments,
methods of solving the problems through the practical training. So it is very important
to identify the problems and eradicate the problems.
 The trend of all activities is an organization becomes growing through practical
training.
 To Innovate new technique of management.
 To realize the present condition of the institution.
 To make policy for development of the organization.
 It mentally prepares for their professions.
 Internship program acts as a bridge between theoretical knowledge and managerial
practice. Internship acts as a guideline during the service period.
 By internship program students can understand limitations, shortages
and practicability of their knowledge and thereby can take necessary action
for removing these limitation and shortages.

Page - 35
 Chapter - 06
Application of knowledge gained
during BBA Program

Page - 36
6.0 Application of knowledge gained during BBA program to accomplish
each task:
I am a student of Bachelor of Business Administration (BBA).This program contains 12
terms including internship. 1st to 11th terms deal with educational activities and 12th is
internship.
As a business student, I learned many things from my BBA program; gained a variety of
knowledge through the class lecture, text books, assignment, presentation, viva, exam etc.
while conducting my internship. Following are some courses that have been highly helpful
throughout my internship period-
“Principles of Marketing”
I completed the courses named “Principles of Marketing” which is my major subject. From
this course I learned different types of promotional activities, marketing mix, customer
retention, strategic and tactics, analyzing the market, branch marking, market segmentation,
target market etc. This course help to understand how to attract the customers, how to create a
place in the today’s dynamic market and how to manage profitable customer relationship.
“Principles of Accounting”
In accounting courses, I broadly understood the accounting system and procedures of any
organization. When I am joining in a bank, these courses help me a lot. From these course I
have understand the basic terms of accounting such as debit, credit, journal, ledger, trial
balance, double entry system, financial statements, valuation and allocation etc. when I am
joining in bank, I saw there was so many types of statement, which was basically I learned in
my academic courses.
“Organizational Behavior”
A course named “Organizational Behavior” was included in the syllabus of BBA program.
Organizational behavior is field of study that investigates the impact that individuals, group
and structures have on behavior within an organization. I broadly learned that every business
has its own value, norms, culture and this helps me to adjust myself with the organization
culture easily. This course played a vital role on my internship. This course taught me how to
behave formally within an organization, how to act react, how to behave with the customer,
how to convince them.
“Banking and Insurance”
The most useful knowledge which I gained from BBA program and used in my internship
the knowledge of banking sector. I learned many important things about banking sector from

Page - 37
the course “Banking and Insurance”. In this course I learned about types of bank, functions of
bank, role of bank in developing economy, different bank related terms, current structure of
banks in Bangladesh as well as the banking sector of the other countries. I learned about the
functions performed by a bank. And when I conduct my internship; I had to perform these
tasks.
From the course “Banking and Insurance” I learned about various types of accounts, such as
saving deposit account, fixed deposit account, current deposit account etc. also I learned
about demand deposit and time deposit. When I joined internship and worked in accounting
opening section, I applied my academic knowledge acquired from BBA program. I also knew
about the loan and advances from the course “Banking and Insurance”.
“Business Communication”
Business communication is a term that can be defined as the contact between the people in
the organization for the intention of carrying out the business activities. It is used to promote
a product, service, or organization as well as pass on information within a business or work as
an official statement from a company. Business communication as nothing but the
communication between the people in the organization for the purpose of carrying out the
business activities. From this course I learned how to write various types of applications, how
to prepare different types of report, letters, memos, agenda etc. So these courses helped me to
communicate with different type of people in the bank and also helped in writing application
for internship.
“Principles of Management”
In the principle of Management course, I broadly learned about what is management,
functions of management like planning, organizing, staffing, decision making, controlling,
coordinating, role of management for running the organization level of management,
different organizational structures, chain of span, span of control, SWOT analysis etc. which
helps me to understand the bank management procedure, structures, rules, and regulation
easily. This course helped me to find out the strength, weakness, opportunity and threat of
Uttara Bank Limited.

Page - 38
 Chapter- 07

Accounting & Information Systems

of EXIM Bank Ltd.

Page - 39
7.0 Introduction:
Due to the characteristic of banking business, EXIM Bank is accounting information system
(AIS) have specific important features related to their liquidity management and the
management of their customers’ account information. According to him, a bank has to
manage its liquidity efficiently in order to maximize profit and to fulfill regulation (minimum
reserve requirement).To perform such duties, the treasury manager need information of
consolidated balance of customers’ deposits, loan and other placements of bank funds. That
information are needed on a daily basis so that the treasury manager can determine how mush
reserve is needed and how much money should be placed in or borrowed from the money
market to conform to the regulation and to maximize the usefulness of available funds. The
use of computer network has made it possible for the treasury manager to get the information
needed almost at anytime. Therefore the bank’s liquidity management could be performed
more timely and efficiently based on accurate information
Accounting information technology is an integral part of any business. It should provide users
with timely information to aid in preparing financial statement, taxes, reconciling bank
account and generating report, using computer hardware and software. The following are the
benefits of accounting information System in EXIM.
7.1Timely Information:
The accounting information technologies provide business and other users with timely
information. This information helps users and business with strategic planning, budgets and
other valuable information for payroll, bank reconciliation and creation of spreadsheet.
7.2 Easy to Use:
Raw data are entered directly into the accounting information technology; the system
processes any calculation, manipulations, reports and reconciliation. The output shows the
result as information in a meaningful manner.
7.3 AIS Practice of EXIM Bank Ltd.:

Bank Temenost24:
Ultimate banking solution

Page - 40
Bank Temenost 24 is a set of scalable, robust and functionally rich banking applications
built out of reusable software components and deployed on industry standard, Internet-
enabled server technologies. It supports a sophisticated multi-currency, multiple branch
environment 24 hours a day, 7 days a week. All components have been specifically designed
to cater for the processing of very large volumes of transactions on-line in real time. It
provides an effective platform for interactions between customers, business partners and bank
employees.
7.4 Internal Control:
The accounting information technology makes it easier for banks to establish internal control
which help to detect fraud, theft and other mismanagement.
7.5 Decision Making:
Data recorded and processed enables accounting information technology to yield reports that
aid interested parties in their decision making process. Most accounting information
technology can yield statistics that indicate performance of product or service.
7.6 External Financial Reporting:
One of the most important characteristics of accounting information technology is its ability
to produce information that helps organizations generate financial statement. From the
accounting information technology, one should be able to create companies balance sheet,
income statement, shareholder or owners’ equity and statement of cash flows.
EXIM currently uses accounting information technology (AIT) in a variety of ways and for a
variety of purposes. According to the management of EXIM, cash may be dispensed and
deposited, accounts debited and credited automatically. Administration may be assisted by
accounting information technology, (AIT) based on Management Information System or AIS.
Inter-bank and international money transfers may be affected by use of secure utilities such as
society for worldwide inter-bank transfer (SWIFT). However, the central historical problem
and still the central technological issue for EXIM concern the capture and organization of
account data through branches. In each, a variety of account transactions are performed
involving cash deposits and withdraws, transfers cheques and standing order. Although many
transactions must still be verified by signature, the main use of account information
technology in EXIM has been to generate and control a database of account information and
to effect the transmission of money, which transactions in the account base require. In the
past, when customers want to withdraw money from their saving accounts, they have to come

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to the bank’s branch where they opened their account. They filled in certain form, sign on it
and present some identification for verification.
Nowadays, the use of online computerized system of EXIM for customer’s account has
enabled the customers to check balance, deposit, withdraw, and transfer money at any branch
of the bank. The use of Automatic Teller Machines (ATMs) add more convenience to the
customers since it enables to do many usual transactions, cash withdraws, transfer between
accounts and pays bill 24- hours a day. Furthermore, the introduction of internet banking
enables the customers of EXIM to do transaction without leaving their home of office. Before
the use of online computer system, when a customer transfer money from his/her account in
other bank or in other branch of the same bank, it usually take one to two days for the fund to
be effective in the receiving account. This is because transfers were processed manually
through the clearing house, which is still using paper-based system. Nowadays, every
transaction done by customers can be directly (debited/credited) into their account no matter
in which branch or ATMs that do it.
Transfer of funds are debited from paying account and credited to receiving accounts
simultaneously. This is made possible by the existence of automated clearing house that
connected online with member computer and using the real time gross settlement (RTGS)
system. Therefore, customers’ accounts are always up to date. On the EXIM side, the
advancement of banking computer technology has improved the ability to perform their
liquidity management more efficiently and profitably.
Therefore, it is possible that in certain branches there is liquidity shortage while in other
branches there is excess liquidity. Thus, with online banking system, the bank in certain
branches can be compensated with excess liquidity in other branches. Therefore, the amount
of unproductive funds that should be kept in reserve can be minimized to the required level,
which in turn will reduce the bank’s cost of capital. In fact, electronic banking products, the
range of banks services, which can be delivered to customer’s office or home by electronic
technology, has expanded extensively. Banks now use technology to transmit information,
receive.
In general, a EXIM’s accounting information system (AIS) has the same role as in other
companies that is to provide financial and non-financial information to banks external parties
(such as investors, creditors and tax agencies) and internal parties (principal management).

The following things are the characteristics of EXIM’s accounting information Systems:
 Effectiveness:

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 This deals with accounting information being relevant and pertinent to the customers’
process as well as being delivered in a timely, correct, consistence and usable
manner.
 Efficiency:
It is concerned with the provision of accounting information through the optimal
(most productive and economic) use of resources.
 Confidentiality:
This is concerned with the protection of sensitive accounting information from
unauthorized disclosure.
 Integrity:
It relates to the accuracy and completeness of accounting information as well as its
validity in accordance with customers’ value and expectation.
 Availability:
It relates to accounting information being available when required by customers now
and in the future.
 Compliance:
It deals with complying with those laws, regulations and contractual arrangements to
which users process their subject i.e. externally imposed criteria as well as internal
policies.

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 Chapter- 08

Findings, Recommendations &

Conclusion

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8.0 Findings:

After this part, I think this is the most vital part for every bank in Bangladesh or any other
country. Mercantile Bank Limited is a private commercial bank. This is most probably
consumer base bank. After analyzing my work and observation I found following points:

 EXIM Bank Bangladesh Ltd focuses on Islami Shariah based banking system. The
main motive of their service is profit sharing.
 Export Import Bank of Bangladesh Limited is good in operation of export import
trade handling and financing as well as foreign remittance management and survives.
 The bank is not getting any commission from foreign remittance sector although it is
providing this service to the people to serve the society.
 Export Import Bank of Bangladesh Limited focuses on Islami Shariah based banking
system. The main motive of their service is profit sharing.
 The core strength of Export Import Bank of Bangladesh Limited is its strong and
reliable client base. Know Your Customer (KYC) is the motto of this bank.
 The officers and the managers always try to their best to provide their customers with
quality service. If any client becomes dissatisfied, the officers as well as the mangers
become busy to cheer up that customers and give them full attention so that they
become pleased.
 They provide quality financial services in export and import trade.
 Export Import Bank of Bangladesh Limited is quick service provider.
 The behavior of the employees is satisfactory. They are very friendly and helpful.

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8.1 Recommendation:
Export Import Bank of Bangladesh Limited is undoubtedly a very well organized bank. But
there are some sectors, where they need to focus on or they need to improve. Those are:

 Though the bank is well decorated but there should have some more spaces for the
officers of Foreign Exchange. Because the department of foreign exchange is quiet
big and there are a huge number of officers and managers. It becomes suffocated to
some part of that department.
 Export Import Bank of Bangladesh Limited does not give attention on advertisement.
In a competitive banking sector a bank has to enhance advertisement campaign in
order to get or retain its market share.
 To enhance employees remuneration comparing to others.
 Manpower should be increase in foreign exchange section.
 Customer waiting room should be provided for foreign exchange department in order
to avoid cue during rush hour.
 To familiar with client bank should increasing advertisement about remittance sector.
 To publish its advantage of remittance collection through advertisement.
 If bank reduce slightly commission and publish it through advertisement then quantity
of remittance service will be increase .Thus large quantity will increase large profit.

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8.2 Conclusion:
The purpose of the report was to do an evaluation of the General Banking & Foreign
Exchange Operation with the Export Import Bank of Bangladesh Limited and scope for its
improvement. As a Export Import Bank of Bangladesh Limited face a tremendous pressure
with the customer and the department's officials try to handle the customer carefully.
Export Import Bank of Bangladesh Limited has converted all of their system and policy of
traditional banking to Islami Banking. I think which a very practical and bold decision is. As
there are lots of local and foreign banks in Bangladesh the Export Import Bank of Bangladesh
Limited is promising commercial Bank among them. In this competitive market Export
Import Bank of Bangladesh Limited has to compete not only the others commercial banks but
also with the public Bank.
Export Import Bank of Bangladesh Limited is more capable of contributing towards
economic development as compared with other bank. Export Import Bank of Bangladesh
Limited invested more funds in export and import business. It is obvious that the right
thinking of this bank including establishing a successful network over the country and
increasing resources will be able to play a considerable role in the portfolio of development.
Success in the banking business largely depends on effective lending. Less the amount of
loan losses, the more the income will be from Credit operations the more will be the profit of
the Export Import Bank of Bangladesh Limited and here lies the success of Credit Financing.
During the course of my practical orientation I have tried to learn the pract ical banking
activities to realize it with my theoretical knowledge, which I have greathearted and going to
acquire from various courses of my BBA program.
As an Internee at Export Import Bank of Bangladesh Limited, I have truly enjoyed my
internship from the learning and experience viewpoint. I am confident that this three months
internship program at Export Import Bank of Bangladesh Limited will definitely help me to
realize my further carrier in the job market.

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 Bibliography

Books

 K.K. Andley & V.J .Matto, ‘Foreign Exchange Principles and Practice’, 8th
Edition
 Dr.Ramani Mohon Debnath 2018 Banks & Legal Environment 3rdEditions,Lotus
Publications Dhaka.54
 International Finance Corporation (IFC) 2017 Scoping Study of Foreign Exchange
Business In Bangladesh.

Websites

 www.bangladesh-bank.org
 www.epzbangladesh.org.bd
 www.foreignexchange.com
 www.nblbd.com
 www.m incom .gov.bd

Annual reports and periodicals:

 Annual reports of the national Bank Limited Sylhet branch Foreign Remittance.

 Manual of Remittance departments of EXIM.

 Daily statement of foreign remittance of EXIM Sylhet Branch

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 Acronyms

Abbreviation Elaborations
EXIM Export Import Bank Limited
BanBanglades
FE Foreign Exchange

CCT & E Chief Controller Of Import & Export Import Registration Certificate

UCPDC Uniform Customs & Practices For Documentary Credit

KYC Know Your customer

ERC Export Registration Certificate Account

TFMD Treasury & Fund Management Department

L/C Letter Of Credit

SWIFT Society For Worldwide Inter Bank Financial

TIN Tax Identification Number

FIT Foreign Telegraphic Transfer

FDD Foreign Demand Draft

TC Travelers Cheque

CSR Corporate Social Responsibility

NID National Identification Number

ID Identification Number

ATM Automated Teller Machine ,

PIN Personal Identification Number

SMS Short Message Service

I-BANKING Internet Banking

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