“General Banking System of Export Import Bank of Bangladesh Ltd”
CHAPTER-1
Introduction
1.1 Introduction
It is possible to gather theoretical Knowledge passing through books but it is insufficient to acquire practical experience. We collect data to know about unknown factors, we can have accurate knowledge about the factors by analyzing data.
As a student of finance and accounting department in Southeast University, have earned theoretical Knowledge, which is not exactly same with the practical business environment. The compulsory course applied by the faculty of business study helps us to have practical experience and it’s reporting also.
& 1.2 Origin of the report
The report entitled “General Banking System of Export Import Bank of Bangladesh Ltd” has been prepared as a partial fulfillment of BBA Program authorized by my department head.
& 1.3 Objectives of the report
The objective of practical orientation is to familiarize with the practical market and to familiarize with the practical market and to compare it with the business theories that we have learnt.
The main objectives of the practical orientation are as follows:
· To apply theoretical knowledge in the practical field.
· To study existing overall position of the bank.
· To gain practical knowledge by working in different desks of Ashulia branch of EXIM Bank
· To familiarize with practical job environment
· To make a bridge between the theories and practical procedures of banking day-to-day operations.
· To know the overall functioning of EXIM Bank Limited
· To have and exposure on the financial institution such as banking environment
· To gain experience on different function of the different department of the Bank
· To observe Banker – customer relationship
· To relate the theories of Banking with the practical Banking
1.4 Methodology
The study requires a systematic procedure from selection of the topic to final report preparation. To perform the study the data sources are to be identified and collected, they are to be classified, analyzed, interpreted and presented in a systematic manner and key points are to be found out. Information collected to furnish this report is both from primary and secondary sources.
1. Primary sources are:
o Face to face conversation with the officers
o Practical desk work
o Relevant files study as provided by the concerned officers.
2. Secondary sources: Some of the secondary sources are
o Different circular issued by the head office and Bangladesh bank.
o Annual reports of Exim Bank Ltd.
o Publications obtained from web site of the bank.
1.5 Scope
The reports cover the Banking service to the customers especially the customer service of EXIM Bank of Bangladesh Ltd. This report has been prepared through extensive discussion with Bank employees and also with the customers.
The study was kept limited to the Ashulia Branch of EXIM Bank Ltd. This Bank deal with all types of general Banking operations, foreign exchange and investment operations according to the rules and regulations provided by the Bangladesh Bank.
1.6 Limitation
· The main constraint of the study was shortage of time
· Another constraint of the study was insufficiency of information, which is highly
Required for the study
· Since the Bank personnel were very busy, they failed to given me enough time to
Complete the report
· The clients were very busy, so they were unable to given me much time for interview
· Carried out such a study for the first time. So inexperience is one of the main factors that constituted the limitation of the study
CHAPTER-2
A Brief History of EXIM Bank
2.1 Historical Background of EXIM Bank
EXIM Bank Limited was established in 1999 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.
This bank starts functioning from 3rd August, 1999 with Mr. Alamgir Kabir, FCA as the advisor and Mr. Mohammad Lakiotullah as the Managing Director. Both of them have long experience in the financial sector of our country. By their pragmatic decision and management directives in the operational activities, this bank has earned a secured and distinctive position in the banking industry in terms of performance, growth, and excellent management. The authorized capital and paid up capital of the bank are Tk. 1000.00 million and Tk 313.87 million respectively.
The bank has migrated all of its conventional banking operation into Shariah based Islami banking since July/2004.
2.2 Slogan of the EXIM Bank – “Local Bank Global Network”
The word EXIM implies the meaning of its operation. Through it is a new type of Bank in Bangladesh; it is familiar with so many countries in the world such as Export Import Bank of the United States, Export Import Bank of Japan, despite it is a local Bank. It has spread of its operation in the whole world through foreign Banking. To achieve the desired goal, it has intention to pursuit of excellence at stages with a climate of continuous improvement. Because it believes, the line of excellence never ending. It also believes that its strategic plans and business networking will strength its competitive edge over in rapidly changing competitive environment. It motto is to provide quality service to the customers all over the world. So, the slogan of the EXIM Bank – “Local Bank Global Network” is completely adjustable with its operation.
2.3 Vission and mission
· Our vision and mission are stated in the following bullets:
· To be the finest bank in the banking arena of Bangladesh under the Shariah guidelines.
· To maintain Corporate and business ethics.
· To become a trusted repository of customers’ money and their financial advisor.
· To make our stock superior and rewarding to the customers/share holders.
· To display team spirit and professionalism.
· To have a Sound Capital Base.
· To provide high quality financial services in export and import trade.
· To provide excellent quality Customer service
2.4 Key Functions of the EXIM Bank
Like other commercial Banks EXIM Bank performs all traditional Banking business including introduction of a wide range of caving and credit products, retail banking and professional management. But the EXIM Bank emphasizes its functions in export and import trade handling and financing of export oriented industries will enhance wealth, quotes more employment’s opportunities, helps formation of capital and reduces in the balance of payment of the country.
The other functions are as follows:
· Receiving deposit
· Granting investment
· Creation of deposit by investment
· Transfer of money
· Discounting of bill of exchange
· Investment in profitable sectors
· Export and Import
· Bill collection (Electric bill, telephone bill, gas bill etc.
EXIM Bank’s Performance at a Glance
| Sl. | Particulars | 2008 | 2009 | 2010 | 2011 | 2012 |
| 01. | Authorized Capital | 100.00 | 350.00 | 350.00 | 350.00 | 1000.00 |
| 02. | Paid-up Capital | 87.90 | 171.38 | 214.22 | 267.78 | 337.40 |
| 03. | Reserve Fund | 57.00 | 81.09 | 113.46 | 153.26 | 209.30 |
| 04. | Deposits | 2831.90 | 3503.20 | 4154.66 | 5758.70 | 7383.55 |
| 05. | Investment (General) | 2604.63 | 3264.13 | 4019.52 | 5363.77 | 6860.99 |
| 06. | Investment ( Shares on Bonds) | 163.30 | 223.33 | 245.77 | 289.40 | 216.94 |
| 07. | Foreign Exchange Business | 7294.00 | 9617.51 | 11790.01 | 15643.46 | 16260.46 |
| a) Import Business | 4143.20 | 4959.67 | 6139.94 | 7854.05 | 8391.15 | |
| b) Export Business | 3128.50 | 4623.46 | 5579.04 | 7646.56 | 7624.08 | |
| c) Remittance | 22.30 | 34.38 | 71.03 | 142.85 | 245.23 | |
| 08. | Operating Profit | 117.58 | 137.87 | 190.82 | 251.84 | 318.18 |
| 09. | Investment as a % of total Deposit | 91.97% | 93.18% | 96.75% | 93.14% | 92.92% |
| 10. | No. of Foreign Corresponden | 222 | 246 | 246 | 278 | 333 |
| 11. | Number of Employees | 934 | 1020 | 1104 | 1312 | 1440 |
| 12. | Number of Branches | 28 | 30 | 35 | 42 | 52 |
| 13. | Return on Assets before tax | 3.49% | 3.94% | 4.39% | 4.45% | 4.14% |
CHAPTER-3
General Banking
3.1 Introduction
3.2 Accounts Opening Section
3.3 Cash Section
3.4 Deposit Section
3.5 Remittance Section
3.5 Accounts Section
3.1 Introduction
The general banking department dose the most important and basic works of the Bank. All other departments are liked with this department. It is also playing a vital role in deposit mobilization of the branch. EXIM Bank provides different types of accounts, locker facilities and excellent customer services. This department is divided
into various sections mainly as follow
Ø Accounts opening section
Ø Cash section
Ø Deposit section
Ø Remittance section
Ø Accounts section
Ø Bill and clearing section
Ø FDR section
3.2 Accounts Opening Section
This section deals with opening of different types of account. It is also deals with issuing of cheque books and different deposit books to the different accounts openers. A customer can open different types of accounts through this department such as
· Current Account
· Saving Account
· Monthly Saving Scheme (MSS)
· Monthly Income Scheme (STEADY MONEY)
· Smart Saver
· Multi Plus Saving
· Super Saving Scheme
· Education Saving Scheme
· Fixed Deposit Account
Requirements of Opening an Account
There are some requirements that have to be completed for opening an account.
& 3.2.1 Current Account
Current Account is an account where the account holders can make numbers of transactions with in a working day. There is no restriction on the number and the amount of withdrawals from the current account within availabilities of funds.
As the Banker is under the obligation to repay this deposit on demand on profit is paid in this account. Generally, current account is opened for Businessman and trades for easy transaction. But a person can open CD Account for specials purpose. Requirements for the different types of Accounts holders are discussed.
Proprietorship Firm
There is a different account opening form for the proprietorship firm by the EXIM Bank of Bangladesh Ltd. For this account, a customer must need to submit the papers with the form
· Photograph
· Signature and Rubber- stamp seal of the client
· Introducer of EXIM Bank ltd.
· Introducer must be an account holder
· Chairman certificate / Citizenship certificate of the proprietor
· Trade license
Current deposit account is opened with neither a sum of nor less then 1000.
The Introducer must attest Photographs of the account holder.
Partnership firm
There is a different account opening form for the proprietorship firm. Interaction for running an account is given in this form. The following documents are required to open these types of accounts.
· Photograph
· Signature and Rubber- stamp seal of the service receiver
· Introducer of EXIM Bank ltd.
· Introducer must be account holder
· Chairman certificate / Citizenship certificate of the partners
· Trade license
· Partnership deed registered by Notary public
· Partnership letter along with address and signature
Current deposit account is opened with neither a sum of nor less then 5000.The introducer must attest Photographs of new account holder.
Limited Company
A separate account from is used for limited company. There are two kinds of limited company – Public Limited Company and private limited company. The bank always takes precautions for opening this type of account. Several documents are submitted by the clients, which should be checked carefully by the Bank to be legally in a safe position. Requirements to open an account are as follows
Private limited company
· Photograph
· Signature and Rubber- stamp seal of the client
· An Introducer of EXIM Bank ltd.
· Introducer must be CD account holder
· Chairman certificate of the partners
· Trade license
· Certified copy of memorandum and articles of association
· Certificate of Incorporation
3-2.2 Saving Account (Individual/ Joint)
Saving Account (SB) is meant for the people of the lower and middle classes who wish to save part of their income to meet future needs and intended to earn an income from their saving. For opening of this type of accounts the following requirements are necessary:
· Photographs attested by the introducer
· Chairman certificate of the Account holder
· An introducer of Exim Bank Ltd.
· Introducer must be CD Account holder
For joint accounts, signatures of all the account holders are necessary.
3-2.3 Monthly Saving Scheme (MSS)
It is project of EXIM Bank, which is a scheme like DPS. The slogan of this scheme is “securing your future with case. A small savings to day will provide you comfort tomorrow”
Saving period and monthly installment rate: The saving period is for 5, 8, 10, or 12 years. Monthly installment rate is 500 TK, 1000 TK, 2000 TK, or 5000 TK.
Monthly installment deposit
· The saving amount is to be deposited with in the 10th day of every month. In case
Of holidays the deposit amount is to be made on the following date
· The deposit may also be made in advance
· The depositor can have a separate account in the Bank from which a standing
Instruction can be given to transfer the monthly deposit in the scheme’s account
· In case the depositor falls to make the monthly installment in time, the 10% on overdue installment amount will be charged. The charge will be added with the following month’s installment and the lowest charge will be TK. 10
Rules of Monthly installment deposit
· A form has to be filled at the time of opening the account. No introduction is needed but attested photographs are advised
· The depositor can select any of the installment accounts. Which can not be subsequently changed?
· In case of minors the guardians may open and supervise the account in this favors
· A single person can open more than one account for saving under several installment rates
· The accumulated deposit with profit will be returned within one month of completion of a term
· Income tax @ 10% will be deducted from the profit accumulated in this scheme
3-2.4. Monthly Income Scheme (STEADY MONEY)
Bangladesh is a developing country. But in our country opportunity of investment is very low. People of our country always try to save their excess money and they are looking for where they can deposit the money. According to their demand EXIM Bank started this monthly income scheme that really makes good sense. Sure investments for a steady return.
Highlights of the Scheme
· Minimum deposit TK. 25000
· Higher monthly Income for higher deposits
· The scheme is for Three years period
· Monthly income will be credited to the depositors account on the fifth of each month profit.
Terms and conditions
· One unit of Smart saver is TK. 25000
· During the tenure of the loan the deposit will be kept in the bank as security
· The customer will have to open an account and monthly installment of loan will be debited from the account commencing from 30 days after opening loan account
· Within the first year if the customer fails to repay three consecutive installment then only the principal amount of smart saver term deposit will be enchased the loan will be liquidated inclusive of accrual interest and balance paid to the customer. After completion of one year, saving rate will be added to the principal amount of smart saver deposit. In both cases closing charge will be TK. 500
· For missed installments on due customer will be charged TK. 25 per unit per month
· In the events of death of the customer the Bank shall be entitled to encash the term deposit and adjust the dues fast before any refund is made to the nominees / successors
3.2.8 Multi plus Savings
Saving help to build up capital is the prime source of business investment in a country. Investment takes the country towards industrialization. This eventually creates wealth. That is why savings are treated as the very foundation of development. To create more awareness and motivation people to save, EXIM Bank offers multi plus Savings scheme.
Terms and Conditions of the Scheme
· Any individuals, company, educational institution, government organization, NGO, Trust, society etc. may investment their saving under this scheme.
· The deposit can be made in multiples of TK. 10,000
· The period of deposit is for 6 years
· Any customer can open more than one account in a branch in his name or in joint names. A deposit receipt will be issued at the time of opening the account.
· If the deposit is withdrawn before 6 years terms term, then servings interest rate plus 1% will be applied before is made. louver, no interest will be paid if the deposit is withdrawn within one year.
· A depositor can avail loan up to 80% of the deposited amount under this scheme.
· In case of death of depositor, before the term, the deposit (with interest at saving plus 1%) will be given to the nominee. In the excess of absence of nominee the legal heirs / successors will be paid on production of succession certificate.
· In case of issuing a duplicate receipt the rules of issuing the duplicate receipt of term deposit will be applicable.
3-2.9 fixed deposit amount
There are deposits, which are made with the Bank for a fixed period specified in advance. The Bank do not maintained the cash reserves against these deposits and therefore. The Bank offers higher rates of profit on such deposits. These deposits generally constitute 50% or more of the total deposit. Usually customers are allowed to open this accounts for a certain period and the rate of profit varies in accordance with the terms of deposit.
| Mudaraba Special Notice Deposit (MSND) | Below Tk. 1(One) Crore | Tk. 01(One) Crore to Below Tk. 25 (Twenty Five) Crore | Tk. 25 (Twenty Five) Crore to Below Tk. 50 (Fifty) Crore | Tk. 50 (Fifty) Crore to Below Tk. 100 (One Hundred) Crore | Tk. 100 (One Hundred) Crore & Above |
| 3.00% | 4.00% | 5.00% | 6.00% | 10.00% |
Profit Rates of Various Deposit
| Deposit Name | Provisional Profit Rate | |
| Al-Wadia Current Deposit | 0% | |
| Mudaraba Savings Deposit (MSD) | Below Tk. 25 (Twenty Five) Crore, | Tk. 25 (Twenty Five) Crore & Above |
| 5.00% | 10.00% | |
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3.3 Cash Section
Cash Section of any Bank plays a vital role in general banking procedure. Because it deals with the most liquid assets there are several counter works simultaneously in cash section of EXIM Bank Ashulia branch. There are also some electronic counting machines by which a huge amount of case money can be counted with in a few minutes
3-3.1 Cash receiving procedure:
The work of cash receiving counter is examining deposit slips. Depositor uses the prescribed deposit slips. Supplied by the bank for deposit cash, draft, cheque, pay order etc. In all types of deposit teller must cheek the following thing:
· The slip has been properly filled up
· The title of the account and its number
· The amount in figure and in word is same
· Instrument signed by the depositor
After checking all these things the teller will accept the cash, cheque, draft, pay order etc. against deposit clip. The teller will place in the drawer accounting to denominations. The teller will place signature affix ‘ cash receipt, rubber stamp seal’ and record in the cash received register book against the account number, at the end of the procedure, the cash officer passes the deposit slip to the computer section for posting purpose and returns the customer’s copy.
Accounting treatment:
| Date | Particulars | Debit(TK) | Credit(TK) |
| Cash A/C Dr.
To customers A/C |
xxxx | xxxx |
3-3.2 Cash Payment Procedures
Precaution:
In order to safeguard the position the paying Banker has to observe the following precaution before honoring the cheque:
· A cheque must look whether it is an opened or closed cheque.
· The paying officer should see whether the cheque is drawn on his or her Branch
· He must see if the cheque is postdated of predated. A teller must not pay postdated cheque.
· The officer must carefully see the apparent tenor to the cheque. If it is mutilated or materially altered then the officer must not honor it.
· The officer must compare the signature of the cheque with the signature on the specimen signature card.
· The officer must verify the regularity of the endorsement.
Passing the cheque
After verify the above mentioned things the officer to make payment by putting “pay cash” seal the cash officer make it clear to pay. The cash officer gives the cash amount to the holder and record in the cash paid register.
Accounting treatment
| Date | Particulars | Debit(TK) | Credit(TK) |
| Customers A/C. Dr.
To Cash A/C |
Xxxx | xxxx |
Dishonor of Cheque
A Banker can dishonor a cheque in the following situation
· Insufficient fund
· Payment stopped by drawer
· Alternation required drawer signature
· Effect not clear in the cheque
3.5 Remittance Section
3-5.1 Pay Order: It is a process of money from payer to payee with in a certain clearing area through Banking. A person can purchase payment order in different modes such as pay order by cheque and for these different modes accounting treatments is also different.
EXIM Bank charge different amount of commission on the basis of payment order amount. The charges for payment order are given in the following chart:
| Total amount of po | Commission |
| Up to 10000 | TK. 15.00 |
| TK. 10001 to TK. 100000 | TK. 25.00 |
| TK. 1000000 to TK. 5000000 | TK. 50.00 |
| TK. 50,00,001 and above | TK. 100.00 |
3.5.2 Demand Draft (DD)
It is an instrument containing an unconditional order of one Bank to another to pay a certain amount of money to the named person or order the amount therein on demand. DD is very much popular instrument for remitting money form one corner of a country to another. Commission for DD is 0.10% of the principal amount.
3-5.3 Telegraphic Transfer (TT)
Telegraphic transfer is the quickest method of transferring funds from one place of another. Sometimes the remitter wants that the money to be available to the payee immediately. If banker is requested to remit the fund telegraphically. Here the remitted bears the additional charge of telex/ telephone. Charge for TT is o.1% of the principal amount and the additional charge telex/ telephone is TK. 40.00. In case of TT both the parts must have accounts.
Bills and Clearing Section
For safety and security in financial transaction people use financial instrument like DD, PO, and Cheque etc. Commercial bank’s duty is to collect the financial instrument on behalf of their customer. The process that the bank use known as clearing and collection
The main function of this section is to collect instrument on behalf of the customers through Bangladesh Bank clearinghouse. Outside bank clearing (OBC), Inter branch clearing (IBC).Upon the receipt of the instrument this section examines the following things
· Whether the paying bank within the Dhaka city
· Whether the paying bank out side the Dhaka city
· Whether the paying bank in their own branch
3-5.4 Outward Clearing
Outward Clearing held if the instrument collected by specific branch within the Dhaka city and of their own branch. Here the following procedures are followed:
· The clients receive the duly-signed instruments
· Cheeked for any apparent discrepancy
· Clearing stamps are affixed on the instrument and on the deposit slip
· Branch code number also affixed on the instruments
· The authorized signature endorses instruments
· Particulars of the schedules send to the main branch of EXIM Bank of Bangladesh
Ltd. with issuing an Inter Branch Debit Advice (IBDA)
3.5.5 Essential things for clearing the instruments
There are three essential things required for clearing the instrument
· Crossing Seal
· Endorsement Seal
· Clearing Seal
3.6 Accounts Section
This is very much crucial department for each branch of a commercial Bank. Records of all the transaction of every department are kept here as will as other respective branches. Accounting department verify all financial amount and contents of transaction. If any discrepancy arises regarding any transaction this department report to the concerned department.
3-6.1 Task of accounts department
Accounts department plays vital role in commercial banking. In private banking sector accounts department of EXIM Bank of Bangladesh Ltd. performs its tasks properly. The activities of account section is as follows
· Records all transactions in the cashbook
· Records all transactions in the general and subsidiary ledger
· Prepares daily fund function, weekly position, period statement of affairs etc
· Prepares necessary statement for reporting purpose
· Makes salary statement and pay salary
· Branch to branch fund remittance and support for accounting treatment
CHAPTER-4
Findings & Recommendation
& 4-1.1 Date analysis and interpretation based on questionnaire and interviews on the customers / clients
Q. Are you satisfied with the customer service of this bank?
| SL No. | Comments | Interviews | |||
| No. of Person | Percentage (%) | ||||
| 1 | Highly satisfied | 33 | 33% | ||
| 2 | satisfied | 58 | 58% | ||
| 3 | Neutral | 6 | 6% | ||
| 4 | Not satisfied | 3 | 3% | ||
| Total | 100 | 100% | |||
Q. What is your opinion about the banking environment of EXIM Bank of Bangladesh Ltd.?
Table: (About Environment of EXIM Bank)
| SL No. | Comments | Interviews | |||
| No. of Person | Percentage (%) | ||||
| 1 | Very Good | 27 | 27% | ||
| 2 | Good | 62 | 62% | ||
| 3 | Neutral | 7 | 7% | ||
| 4 | Poor | 4 | 4% | ||
| Total | 100 | 100% | |||
Interpretation: From the above date analysis we can see, most of the clients agreed that the Banking environment of EXIM Bank is good. Some people commented it is very good and a few said it fair.
Q. Do you think customers are getting more facilities here in comparison with other Bank?
Table: (About comparative facilities)
| SL No. | Comments | Interviews | |
| No. of Person | Percentage (%) | ||
| 1 | Yes | 60 | 60 |
| 2 | No | 0 | 0 |
| 3 | Not all cases | 40 | 40 |
| Total | 100 | 100 | |
Interpretation: From the analysis it is found customers are getting more facilities comparing to other Banks. At the same time a large number of clients expressed that in some specific cases such as interest rate etc. They are getting more facilities, but not all sectors of banking service.
Q. How do the employees behave with the customers?
Table: (About Employees Behavior)
| SL No. | Comments | Interviews | |
| No. of Person | Percentage (%) | ||
| 1 | Very cordial | 76 | 76 |
| 2 | Satisfactory | 23 | 23 |
| 3 | Rude | 1 | 1 |
| Total | 100 | 100 | |
Interpretation: From the analysis it is found that most of the clients agreed that employees are well behaved with the clients.
Q. Do you think them providing prompt service in cash section?
Table: (About prompt service in cash section)
| SL No. | Comments | Interviews | |
| No. of Person | Percentage (%) | ||
| 1 | Yes | 10 | 10 |
| 2 | No | 40 | 40 |
| 3 | Should be more first | 50 | 50 |
| Total | 100 | 100 | |
Interpretation: From the above analysis we can understand that customers are not satisfied with cash service. Most of the interviewees said that their cash service is traditional; they take more then 15 minutes to make an operation. The customer’s opinion is that they should be faster by using modern technology.
‘Local Bank Global Network-’ the slogan of EXIM Bank Bangladesh Ltd
Q. Do you think they are maintaining their service quality according to their slogan?
Table: (About maintaining slogan)
| SL No. | Comments | Interviews | |
| No. of Person | Percentage (%) | ||
| 1 | Certainly | 30 | 30 |
| 2 | Most of the time | 45 | 45 |
| 3 | Should extend their service | 25 | 25 |
| 4 | No | 0 | 0 |
| Total | 100 | 100 | |
Interpretation: From the above analysis we can understand that most of the time they are maintaining the quality and they are trying to expand their service in the whole country as well as over the world.
Problems at General Banking Section
· In general banking department they follow the traditional banking system. The entire general Banking procedure is not fully computerized. As a result some processing for example collecting money from the deposit take a long time to perform.
· The cash counter I thing is congested and the procedure is also traditional.
· Lack of variety of service is also a drawback of the general Banking area of the EXIM Bank of Bangladesh Ltd. The bank provides only some traditional limited service to its client. As result Bank is falling behind in competition.
· They are not using database net working in Information Technology (IT) department. So, they have to transfer date from branch to branch to head officer by using floppy disk and sure it is not good system.
· In case of opening an account some big parties come to open accounts in reference with the high official of the Bank. They do not submit all papers that required opening an account. I thing in this case the authority is violating the rules.
· According to some clients opinion introducer is one of the problems to open an account. If a person who is new in the city wants to open an account, it is a problem for him/ her to arrange an introducer of SB or CD accounts holder.
Recommendations
· In general banking department it is necessary to implement modern banking process instead of traditional system. The department should be more computerized.
· As soon as possible the bank should introduce the centralized online banking service.
· Banking is a service-oriented marketing. Its business profit depends on its service quality. That’s why the authority always should be aware about their service quality.
· To provide service to the customer it is necessary to have a trained team of an organization of an institution. For this reason the bank should recruit more fresh, bright and energetic persons. In this case the bank can consider MB, BBA, MBM and etc.
· The Bank should attempt to enter into the share market by issuing share to capitalize more money and invest thereafter by expanding the number of branches around the city.
· One of the business strategies is promotion. Successful business depends how they can promote their products of service to the customer. In this connection to improve the business bank should introduce more promotional programs.
· The entire client is not in favor of introducing system, if possible the rule of introducing to pen an account should be change. Because many people face in problem to arrange an introducer in the time of opening accounts.
CHAPTER-5
Conclusion:
Export Import Bank of Bangladesh Limited is a third- generation private commercial bank in the country with commendable operating performance Directed by the mission to provided prompt and efficient service to clients. It provided a wide range of commercial banking service EXIM Bank has an achieved success among its peer group within a short span of time with its professional and dedicated term of management having long experience, commendable knowledge and expertise in conversion with modern banking. With all its resources, the management of the bank firmly believes that the bank would be able to encounter problem that may arise both at micro and macro economic levels. The management of the bank is maintaining an efficient portfolio in order to have a healthy growth and retain customer satisfaction.
EXIM Bank is engaged in modern banking. It is expected that EXIM Bank by its efficient Asset and liability management will not be able to maintain its trend of growth and thus over come the threat Neither Exim Bank nor any other commercial bank can effectively combat risk. However, Exim Bank having small and targeting niche market is likely to be less affected by restrictive monetary and fiscal policy. The Management of the Bank is planning to meet the required capital adequacy withering the stipulated time frame, and a loan and advance policy that expected the loan loss provisioning in future will be with in tolerable limit having little material impact on future profitability as well as net worth. A although EXIM Bank is yet to be fully automated the bank has an adequate modern technology to meet its present requirement and its proceeding aggressively to enhance its technology level. As EXIM Bank is performing good in traditional general banking and there is a good demand for Islamic Banking and the opinion of then (The Management) that the performance of the Bank is getting much better than past. I wish and hope that in future EXIM Bank will be Number one commercial Bank in Bangladesh.
| REFERENCES AND BIBLIOGRAPHY |
ACRONYMS
A/C Account
B/L Bill of Lading
BB Bangladesh Bank
BIC Bank Identifier Code
BR Branch
C & F Clearing & Forwarding
CC Cash Credit
CCI & E Chief Controller of Import & Export
CFR Cost & Freight
CRF Clean Report Findings
DD Demand Draft
EDF Export Development Fund
EPB Export Promotion Bureau
EPZ Export Processing Zone
ERC Export Registration Certificate
EXP Export Form
FC Foreign Currency
FDD Foreign Demand Draft
FDR Fixed Deposit Receipt
FOB Free On Board
IBCT Inter Branch Credit Transaction
IMP Import Form
IRC Import Registration Certificate
L/C Letter of Credit
LCAF Letter of Credit Authorization Form
LIM Loan against Imported Merchandise
LTR Loan against Trust Receipt
PAD Payment against Document
PO Payment Order
PSI Pre Shipment Inspectio
Bibliography
1. Several Newsletters From EXIM Bank
2. Annual Report of EXIM Bank Limited
3. Different type of brochures of EXIM Bank.
4. Articles of EXIM Bank
5. http:\\www.eximbankbd.com\backgroundt.htm