Professional Documents
Culture Documents
0 Introduction
Banking in the 21st century has exceeded the conventional loan deposit concept. Rather than
maintaining day to day transaction, modern banking now emphasizes on long term
relationship with customer, society, & government. In recent times, expansion & innovation
of modern banking are remarkable catalyst in Bangladesh. Furthermore, the ascend of
information technology has blessed the banking system & thus people enjoy the classy
banking. It also introduces enthusiasm & drive in economys growth through providing such
source of investment. Banking services are extremely important in free market economy.
Consequently, customer satisfaction should be the top priority of any bank.
As Export Import (EXIM) Bank of Bangladesh Limited is one of outmost successful private
bank in banking sector of Bangladesh- is always one step ahead to other competitors in
serving the customers, & satisfying them. Its goal to provide highest customer services
through togetherness with its customers. It also provides fully Islamic Banking services,
Retail Banking, Corporate Banking, Investment Banking, Merchant Banking & Project
Finance, Money Transfer, Remittance Services, Loan Syndication and so on.
2.3 Banking
In general terms, the business activity of accepting and safeguarding money owned by other
individuals and entities, and then lending out this money in order to earn a profit.
2.3.1 Banks view point: All of the activities of bank are called banking.
2.3.2 Clients view point: All of the activities of clients that are related with bank are
called banking.
2.3.3 Course view point: The course from which we can earn more knowledge about
bank is called banking.
2.3.4 Performance view point: The performance of bank is called banking.
2.4 Banker
Generally, the term banker defined as "a dealer in capital, or, more properly, a dealer in
money. He is an intermediate party between the borrower and the lender."
According to British Stampt Act, 1881 any person carrying on the business of
banking is a banker.
A banker is a person who deals with the money of others; but he often lends his own
money, and when thus acting he is one of the two original parties.
A public or incorporated bank, like a banker, receives and lends money. It always has
a capital of its own to lend, besides the money or deposits of individuals.
Some are says that both employee & owner are banker. But, this is very controversial
one.
Central Bank
Schedule Bank
Non-Schedule Bank
Foreign Bank
Local Bank
Specialized Bank
Commercial Bank
Nationalized
Commercialized Bank
Private Commercial
Bank
De-Nationalized Private
Commercial Bank
Name of Bank
Sonali Bank
Rupali Bank
Janata Bank
Bangladesh Krishi Bank
Name of Bank
Pubali Bank Limited
Agrani Bank Limited
AB Bank Limited
EXIM Bank Limited
The City Bank Limited
IFIC Bank Limited
Islami Bank Bangladesh Limited
National Bank Limited
United Commercial Bank Limited
Uttara Bank Limited
ICB Islami Bank Limited
Eastern Bank Limited
Al-Arafah Islami Bank Limited
Prime Bank Limited
South East Bank Limited
Dhaka Bank Limited
National Credit & Commerce Bank Limited
Social Investment Bank Limited
Dutch-Bangla Bank Limited
Mutual Trust Bank Limited
Standard Bank Limited
One Bank Limited
Bank Asia Limited
Mercantile Bank Limited
Jamuna Bank Limited
BRAC Bank Limited
Shahjalal Islami Bank Limited
The Premier Bank Limited
The Trust Bank Limited
First Security Bank Limited
Bangladesh Commerce Bank Limited
Al Baraka Bank Bangladesh Limited
Name of Bank
HSBC Ltd.
Standard Chartered Bank
City Bank NA
Habib Bank Ltd.
National Bank of Pakistan
State Bank of India
American Express Bank
Muslim Commercial Bank Ltd.
Shamil Islami Bank of Bahrain EC
Standard Chartered Grindlays Bank
Credit Agricole Indosuez (The Bank)
Hanvit Bank Ltd.
Name of Bank
Bangladesh Krishi Bank
Rajshahi Krishi Unnayan Bank
Bangladesh Shilpa Bank
Bangladesh Shilpa Rin Sangstha
Bangladesh Small Industries and Commerce (BASIC)
Bank Limited
Name of Bank
Ansar VDP Unnayan Bank
Bangladesh Samabai Bank Ltd. (BSBL)
Grameen Bank
Karmasansthan Bank
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Registered Office
PABX
Fax
SWIFT Code
Web Page
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3.2.3 Values
Quality
Teamwork
High Morale
Customer Focus
Integrity and Honesty
Respect for the Individual
Environmentally Conscious
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Advisor
Board of Directors
Company Secretary
Mr. Md. Golam Mahbub
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24
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Particulars
Authorized Capital
Paid up Capital
Total Capital
Reserve Fund
Total Assets
Total Liabilities
Total Share holders Equity
Deposits
Investment (General)
Investment (Shares & Securities)
Operating Income
Operating Expenditure
Profit before Provision & Tax
Profit Before Tax
Net Profit after Provision & Tax
Investment as a % of total Deposit
Dividend:
Cash
Bonus
Right Share
Cost of Fund
Net Asset Value (NAV) Per Share
Earning Per Share (EPS)
Price Earning (P/E) Ratio
Return on Asset (ROA) after Tax
Return on Investment (ROI)
No. of Employees
No. of Branches
2008
2009
2010
3500.00
2677.75
5763.89
1532.55
68446.46
63457.26
4989.20
57586.99
53637.68
2894.02
8356.82
5838.43
2518.39
1989.55
1096.63
93.14%
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-26
-9.52%
18.63
10000.00
3373.96
7718.89
2092.97
86213.37
79496.16
6717.21
73835.46
68609.91
2169.44
10383.62
7201.84
3181.78
2802.12
1694.10
92.92%
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-35
1R:2
9.09%
19.91
2.64
14.28
2.19%
9.38%
1440
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10000.00
6832.27
10928.40
3154.76
113070.98
100596.13
12474.85
94949.40
83296.65
6012.86
15646.77
9752.98
5893.79
5308.95
3476.01
98.26%
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-35
-7.10%
18.26
5.35
11.34
3.54%
35.01%
1686
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3.40
8.43
1.83%
2.03%
1312
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Source: Annual Report 2009, & Auditors Report 2010, EXIM Bank Ltd.
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The size of the investments portfolio as on 31 st December 2010 was 6,012.86 million
(excluding investment in subsidiary), while it was Tk. 2169.44 million in 2009. The
portfolio comprises mainly of Bangladesh Government Islamic Investment Bond, & Shares
of different companies.
3.9 Achievement
3.9.1 First Private Sector Bank to Open Exchange House in UK: In order to ensure
delivery of smooth and most reliable remittance services to NRBs living and working
in UK, Export Import Bank of Bangladesh Limited (Exim Bank) has started
operation of its wholly owned subsidiary EXIM Exchange Company (UK) Ltd. on
30th June 2009 in London, United Kingdom, one of the oldest destinations for the
expatriate Bangladeshis. It is the first exchange house owned by a Bangladeshi
private bank.
3.9.2 Implementation of the World Renowned Core Banking Software (TEMENOS
T24): In order to provide IT enabled products and services to the valued customers,
EXIM Bank has implemented a world renowned Shariah based centralized core
banking software named TEMENOS T24. This software is capable enough to
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provide all sorts of electronic banking services to the valued customers through
various electronic delivery channels.
3.9.3 Conversion from Conventional Banking to Shariah Based Islami Banking:
EXIM Bank is the first private sector bank in Bangladesh, which migrated at a time
all the branches from its conventional banking operation into Shariah based Islami
banking operation from 1st July, 2004 & without facing any trouble.
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EXIM Bank is always prompt to stands besides the helpless. The bank provides relief in
cash, foods, equipment of infrastructural development etc. in time of flood, earthquake, fire,
cyclone and so on.
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Tenure
---01 Month
03 Months
06 Months
12 Months
24 Months
36 Months
06 Years
10 Years
03 Years
05-12 Years
05-20 Years
-7
3
13.50
13.50
13.50
13.25
11
11
Double on Maturity
Triple on Maturity
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10.50
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Corporate finance
Commercial finance
Industrial finance
Project finance
Lease finance
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Syndicate finance
Hire purchase finance &
Real estate finance.
Exim Abalamban.
Exim Uddyog.
Exim Buniyad.
Exim Kishan.
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Meaning of responsibility
Necessity of commitment
Punctuality and regularity is very important
Ability to interact with different sorts of people and so on.
EXIM Bank has a prepared internship program for internees. Although it is rarely followed,
it served as a guide for me. I was working all the departments, without Cash department in
the Bank.
4.1.2 Nature of the Jobs
The first 2 weeks I was working in the Credit Department. Usually this department is very
sensitive to dealing with the customers & their documents. But I was lucky to accomplish
my working times successfully with the help of two Senior Officer, namely Mr. Wahidur
Rahman Chowdhury (SO), & Mr. Shahad Ahmed Chowdhury (SO). My responsibilities
in this department were just to assist them in updating the customer file, maintaining the
serial of several deeds of corporate clients according to Advocate notice etc. I learned the
followings from this department:
I had to rearrange all the customer files.
Recording the customer documents in office file.
Checking the customer documents, which are required for credit section.
Then I was assigned to General Banking (GB). I spent the next 5 weeks here. First time I
felt some difficulty, but very fruitful. I was under Mr. Md. Raish Uddin (MTO), who was
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very intellectual & interesting. He always guided me about my responsibilities at GB, which
include the followings:
Opening A/C for new customers and aiding them in the process.
Updating & maintaining serial of the old A/C opening forms.
Bringing out the cheque books for the customers.
Writing cost memo for Demand Draft (DD).
Counting & updating the vouchers of GB.
Entry the inward & outward despatch.
Receiving inwards from the courier.
The last 5 weeks I was working on foreign remittance of Foreign Exchange Department,
under Mr. Md. Fazle Rabbi Chowdhury (Officer). Here I had directly deal with the
customers, those who are coming in bank for receiving foreign remittances. Here I worked
on the followings:
Payment the remittances through Western Union, EL DORADO etc.
Learning the basics of these softwares - Western Union, EL DORADO etc.
Receiving & printing remittance paper from the softwares of bank.
Checking the details of customers, those who want to receive remittance.
Taking necessary papers from customers such as photocopy of National ID
Card, Passport, Trade License, Birth Certificate etc.
Fill up the forms required to provide remittances.
Taking signatures of customers & verify them.
Payment the money from cash department.
4.1.3 Observation
It was very interesting for working at EXIM Bank. The people there are really nice, frankly,
helpful, and talented. The things that I have noticed and observed are:
Punctuality and regularity is very important.
All employees are strictly followed the banking rules, no one can abide by
the rules.
Work is never left pending for the next day unless it is absolutely necessary.
The work process could be made faster with better computers and operating
systems.
A good job performance is rarely praised, hence lacking motivation of the
employees.
There is always a hurry of customers so there is no standard on what the
employees do throughout the day.
The work activities are always set and divided for each of the employees.
This is the way it should be, but when I saw it first hand it was remarkable.
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Each and every employee has a certain set of responsibilities. They carry out
those responsibilities throughout the day. It is also easy to assign duties that
way.
I have always seen that all the staffs are helping each other for
accomplishing their tasks at the day end.
5.0 Introduction
International migration is a worldwide phenomenon. Though Bangladesh is a labor surplus
country, most of the labours are unskilled or semi-skilled. As a developing country
Bangladesh can not provide all its labours with job facilities and so unemployment rate is
very high here. In this backdrop, international migration started in the part of the globe.
Bangladeshi emigrants send a portion of their earning as remittance or foreign exchange
from foreign countries to Bangladesh for their family members and relatives.
Foreign remittances to Bangladesh have been growing steadily over the last decade. It gets
momentum in recent time in Bangladesh and is the second largest sector of foreign
exchange earning after garments sector. According to Bangladesh Bank, near about 6.5
million Bangladeshis living and working abroad, mainly in the Middle East, South East
Asia, Europe, and the United States. Out of them, 64 percent of annual remittances inflows
originate from Middle Eastern nations. Millions at home are dependent on money sent by
their emigrant relatives.
According to Development Prospect Group of World Bank, Bangladesh has become the 7th
largest recipient of remittance by migrant workers in the year 2009 at round US$ 10.7
Billion, which increases in 2010 at round US$ 11.1 Billion (Migration and Remittances
Factbook, World Bank 2011). The increase in remittances could also be partly due to two
upcoming religious occasions - the Muslim festival of Ramadan and the major Hindu
religious celebration of Durga Puja.
However, the volume of remittance receipts by Bangladesh coming through formal channels
as shown in the Global Remittances Guide's report does not still provide the real picture of
remittance inflow in the country. In fact, the informal channels, illegal hundi system are
still playing a major part in transferring the remittance money, thereby depriving the
government of a huge sum of foreign currency every year.
The amount of remittances arriving through the formal channel historically depends upon
several factors playing important role in the decision matrix of the remitters.
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Macroeconomic variables such as home and host country GDP, exchange rate, interest rate,
inflation, investment facilities for remitters etc. are considered to be important factors.
In this situation, the government needs to take more initiative for receiving remittances
through formal channels & rectifying the informal channels. Already Bangladesh Bank
takes several necessary steps for receiving remittances through formal channels.
5.1 Remittance
Remittances are personal flows of money from migrants to their families and friends and
should not be taxed or directed to specific development uses.
Remittances are typically transfers from a well-meaning individual or family member to
another individual or household. They are targeted to meet specific needs of the recipients.
To sum up, it can be said that migrants families enjoy a higher standard of living and status
than what it was before migration (Rahman, 2001).
5.1.1 Types of Remittance
Remittance can be classified as follows:
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Remittance
National or Domestic
Remittance
International or Foreign
Remittance
Inward Remittance
Outward Remittance
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Payments of import liabilities: are the payment of money against purchasing goods &
services from abroad.
Return from Foreign Direct Investment (FDI): when foreigners are invest money in
our country, than they will get return on behalf of investment. This return may be
transferred by foreigner to their home country.
Educational Expenses: payment the fees of educational institutions by Bangladeshi
students.
Medical Expenses: payment the costs of medical treatment in abroad by Bangladeshi
people.
International migration has become an increasingly important avenue for employment and
poverty reduction of Bangladeshi people. There are two major patterns in international
migration from Bangladesh: one to the industrialized west that includes the United Kingdom
and the United States, and the other to Middle East and Southeast Asia. The migration to the
industrialized countries is perceived to be long term or permanent in nature while migration
to Middle East and Southeast Asia is usually for short term. The Bangladeshi immigrants
living in the industrialized countries of Europe and North America can be divided into two
distinct groups: a group of well-educated, high or middle income people of Bangladeshi
origin, and the other belonging to the low income or unemployed segments of the
population. As Bangladesh is an over populated country, so it able to supply a large number
of skilled, low-skilled, & unskilled labor throughout the world. A statistics shows thatmigration by low-skilled individuals can have an indirect positive impact on economy &
poverty reduction through decreasing unemployment and increasing wages among skilled
workers remaining in the country (Siddiqui, 2007). The Bureau of Manpower, Employment
and Training (BMET) maintains a database on the short term labor migrants who officially
go overseas for employment. According to the official statistics, between 2006 and 2010,
the total number of Bangladeshis working abroad as short term migrants stands at about 6.7
million. Following figure presents the total number of migrant workers for each year
between 2006 and 2010.
and private commercial banks (PCBs), somewhat stricter enforcement of laws against
informal channels like the hundi system (which are supposedly used for transfer of funds
among terrorist groups) after the terrorist attack of September 11, 2001, and various
government programs to encourage remittance transfers.
Remittance crossed $10 billion mark for the first time in Bangladesh history in the year
2009 because of migrants, a main driver of the country's economic progress, sent more
money home despite all odds during global recession. With 20 percent growth, remittance
inflow reached $10.72 billion in the year 2009, although the year marked a fall in manpower
exports. In 2008, the remittance was $8.97 billion. The overseas employment ministry data
shows that the number of migrant workers declined 46 percent to 475,278 persons in
January-December of 2009. In December, 2008, the number was 875,055. But, the total
remittance inflows to Bangladesh grew strongly for most of FY 2010, which reached $11.1
billion, a 13.4% increase compared to last FY 2009. Following figure shows the last five
years statistical data of remittances inflow in Bangladesh:
According World Bank, Bangladesh was the 7 th largest recipient country of remittances in
the year 2010, whereas India was in the first position, & Saudi Arabia alone is the source of
more than 30 percent of total remittance transfers to Bangladesh in the FY 2009-2010.
Following figure shows the country wise workers remittance received in the FY 2009-2010:
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5.6.1 Formal Channel: means sending remittances through maintaining the rules &
regulations of government & foreign exchange policy of a country. Remittance is sent
officially through various ways such as Bank A/C to Bank A/C transfer, demand draft (DD),
travelers check (TC), telegraphic transfer (TT), postal order (PO), direct transfer, automatic
teller machine (ATM), electronic fund transfer (EFT) etc.
When remittances are transferred directly from the foreign A/C of migrant worker to his
own A/Cat home it is known as direct transfer. This can be through telegraphic means or
otherwise. Remittances are frequently sent through demand draft in Taka issued by a bank
or an exchange house in favor of a nominee of migrant. Usually the draft is sent by post or
in emergency by courier service. One can send remittance through the postal authorities. In
such case the remitted money is handed over to the receiver by the local post office.
Travelers cheques are also used as a means to send remittance.
5.6.2 Informal Channel: means sending remittances without the rules & regulations of
government & foreign exchange policy of a country. Hundi or Money Courier is the most
common among the informal or unofficial channels of transfer. Hundi refers to illegal
transfer of remittance outside the international or national legal foreign currency transfer
framework. Organized groups based in diverse cities such as London, New York, Dubai,
Kuala Lumpur and Singapore conducts hundi operation through their partners in
Bangladesh, & other developing countries.
In the hundi system a moneychanger in the foreign land of a particular country takes cash
from the clients and promises to deliver the equivalent in another currency to a designated
recipient in a home country, often with a day. The changer doesnt actually send money, but
rather tells a contact in the recipients country to deliver the proceeds. To retrieve the cash,
the recipients need only a number or a receipt or a code word mailed by the remitter. Hong
Kong has become the main centre for hundi system in East Asia.
Most of the out flowing labor is rural area people have less knowledge in banking. They are
also unaware about the banking culture. Banks also charge comparatively higher rate of
commission for transferring remittances. Therefore, these might be some of the reasons for
dominance of informal money transfer in remittance business in Bangladesh.
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These above inefficiencies have resulted in abnormal share of Hundi business in this
sector. Today, it is estimated that the share of Hundi business constitutes roughly 40% of
total incoming foreign remittances in Bangladesh. Banks drives the legal channel for
remittance mobilization.
Banks are the integral parts of formal channel of sending remittance or transferring money.
Every commercial bank provides the remittance service to their customers. Remittance has
become the primary service provided by the banks to their customers. They provide
remittance service by acting as an agent or sub agent of other money transfer agencies, for
example, EXIM Bank is providing inward remittance service by being the principal agent of
Western Union Money Transfer. They can also provide remittance service through their own
agency or exchange houses: EXIM Exchange Company (UK) Ltd. in London, United
Kingdom & EXIM Exchange Company (Canada) Ltd. in Canada.
Bangladesh Bank (BB) is the central bank of Bangladesh. Among other powers and
functions, BB regulates scheduled bank activities, acts as a clearing-house, maintains
foreign exchange reserves and monitors floating exchange rate mechanism in the current
accounts. It has a separate department for regulating and monitoring remittance entitled
Foreign Exchange Policy Department (FEPD). It also generates analyses, interprets, and
distributes data on inflow of remittance. Bangladesh Bank (BB) always encourages to
nationalized & private commercial banks for opening exchange houses in abroad. Because,
they try to control the informal channel or hundi system for transferring remittances in
Bangladesh. BB also implements several policies for encouraging Bangladeshi migrants in
abroad regarding remittances.
Remittance undoubtedly has stood as the most influential factors in making profit for the
bank thorough the commission earned by acting as a remitting agent and through
fluctuations in foreign exchange rates. Major players in banking in the field of remittance in
Bangladesh are Islami Bank Bangladesh Limited (IBBL), Sonali Bank, South East Bank
Limited (SEBL), Export Import (EXIM) Bank of Bangladesh Limited, Agrani Bank Limited
and so on.
According to Bangladesh Bank under Section 18A of Foreign Exchange Regulation Act,
1947, it is mandatory for all resident individuals/organizations to have permission before
commencing business or receiving any proposal to act as an agent (as Satellite Channel
Distributor) of Foreign Principal(s). To deal with foreign remittances, any bank or financial
institution must obtain the permission of authorized dealer (AD) through Bangladesh Bank.
Without maintaining the formalities of AD of Bangladesh Bank no a single bank or financial
institution can deal with foreign exchange or remittances.
Bangladesh Bank objective is to have all remittances sent through official channels & in this
connection it encourages different government & private banks to set up arrangements with
different exchange houses in destination countries. These arrangements are most secure,
efficient, low cost, & timesaving compared to other methods like demand draft (DD),
telegraphic transfer (TT), postal order (PO) etc. Every of these methods are time consuming
& costly. As why Bangladesh Bank always encourages to nationalized & private
commercial banks for opening exchange houses in abroad.
There have several specific rules of Bangladesh Bank to open exchange houses in abroad.
Some of these are listed below:
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As EXIM Bank applied several policies regarding foreign exchange & remittance, so they
are becoming strong in the field of remittance business in our country. According to
Bangladesh Bank, in handling foreign remittance, Sonali Bank among the nationalized
commercial banks, Islami Bank Bangladesh Limited (IBBL), South East Bank Limited
(SEBL), and Export Import (EXIM) Bank of Bangladesh Limited among private sector is
enjoying a good reputation. Among the foreign banks Standard Chartered Grindlays Bank is
performing well. Each of these banks has also some distinctive features in providing
services, charging commission etc.
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This simple transfer system, being on line eliminates the complex process and makes it easy
and convenient for both the sender and the receiver. The Western Union agent gives a
money transfer control number (MTCN) to sender against sending money in Bangladesh.
Generally, sender always select any one of the above documents as ID of receiver, & the
Bank claim only this document to the receiver for making payment.
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5.14.2 EL DORADO
EL DORADO is a secure web based & online Remittance Payment System that went live on
July 25, 2009. Presently EL DORADO has 8 members banks having 501 branches all over
the country. It is fastest & most reliable way for both A/C holder & non A/C holder to
transfer money throughout the Bangladesh & receive from other countries all over the
world.
Facilities of EL DORADO: There have several facilities offer by EL DORADO in our
country. Some of these are listed below:
(a)
(b)
(c)
(d)
This simple transfer system, being on line eliminates the complex process and makes it easy
and convenient for both the sender and the receiver. The EL DORADO agent gives a
personal identification number (PIN) to sender against sending money in Bangladesh.
Generally, sender always select any one of the above documents as ID of receiver, & the
Bank claim only this document to the receiver for making payment.
In Bangladesh, we can only receive money from abroad but we can not make payment or
transfer money from our country to another country of the world on behalf of our customer.
5.14.3 SWIFT
EXIM Bank Limited is one of the first few private commercial banks in Bangladesh, which
have become the member of SWIFT (Society for Worldwide Inter-bank Financial
Telecommunication). SWIFT is a member-owned co-operative, which provides a fast and
accurate communication network for financial transactions such as Letters of Credit, Fund
Transfer etc. By becoming a member of SWIFT, the bank has opened up possibilities for uninterrupted
connectivity user institutions around the world.
The SWIFT code of EXIM Bank is EXBKBDDH. This simple transfer system, being on
line eliminates the complex process and makes it easy and convenient for both the sender
and the receiver. Generally, sender always select any a documents as ID of receiver, & the
Bank claim only this document to the receiver for making payment.
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Bank
Islami Bank Bangladesh Limited (IBBL)
Sonali Bank
3 other Nationalized Commercial Banks (NCBs)
30 other Private Commercial Banks (PCBs)
2 Specialized Commercial Banks
Foreign Commercial Banks
Total
FY 2009-2010
(Values in USD Billion)
1.86
1.13
0.67
6.83
0.20
0.41
11.1
Source: Remittances Data, Development Prospects Group, World Bank, 2010, Bangladesh
Bank, March 2011
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Figure 11: 5.15-Foreign Remittance Receive in EXIM Bank (Last Five Years)
From the above graph, it is clear that the inflow of remittance at EXIM Bank is growing
tremendously. At the time 2005 to 2007, the total inflow of remittance was increasing
steadily. But, from year 2008 to 2009, it was increasing very rapidly. As on 31 st December
2009, foreign remittance of the bank stood at Tk. 2.45 billion as against Tk. 1.43 billion in
2008 with a growth rate of 71.68 percent.
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Percentage
(%)
24.45
20.02
15.24
13.55
9.07
7.19
4.76
3.72
2.00
100 %
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49
50
GDP
7.05
8.86
9.60
11.37
13
6.0.1 Strengths
6.0.2 Weaknesses
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6.0.3 Opportunities
Established more ATM booths & cash deposit machine (CDM).
Enhance exchange houses in abroad.
Increasing demand on Islamic Banking in the country.
Introduce local demand oriented deposit schemes & investment products.
Country wide network through expanding branches.
Experienced management team with a nice corporate culture.
Implementation of BASEL II that provides benefits & reduces credit risk.
The quality of the services at EXIM Bank is better than the some other private banks.
It also faster & smooth day by day.
Strong core banking software namely- TEMENOS-T24.
6.0.4 Threats
The upcoming private, local, & multinational banks posses serious threats to the
existing banking network of EXIM Bank.
Frequent change in government policy.
Bangladesh Bank strongly maintains their rules & regulations regarding banking
business.
Global & local financial crisis have posses a negative impact to the growth of bank.
Lack of full Islamic monetary, fiscal, & socio-economic system within the country.
Almost similar products are offered by other banks in the country.
Corruption, terrorism, & business of black money are increasing day by day.
Lower compensation package of the employees from mid level to lower level
position have a threat the employees motivation.
International & local politics turned the banking environment into more hazardous
situation.
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7.1 Conclusion
Financial institutions have always played an imperative role on strengthening the economic
infrastructure of the country. Banking services are extremely important in a free market
economy, & EXIM Bank has been at the forefront on this role.
It was great pleasure for me to complete my internship program in an Islamic Bank, likeExport Import (EXIM) Bank of Bangladesh Limited. Though practical exposure in EXIM
Bank, Golapgonj Branch was just for 3 months, but provided me a wide range of scope to
observe the functions of bank through the cordial & warm assistance of its members. It is
the most promising private commercial bank in our country. Day by day they increase their
products & services within the country. It also working & introducing them across the
national border, only for Bangladeshi expatriates. The Bank also contributes on national
economy of our country.
Remittance is one of those important instruments, which helps to solve our problem by
strengthening the economy. Migration is such a process, which helps to reduce
unemployment, increases reserves and helps to make the balance of payment favorable and
also helps immensely in other socio-economic aspects. Unemployment situation is one of
the most alarming economic indicators of a country; migration and consequent remittance is
mainly related with employment and earning of foreign currency. So, remittance is a vital
issue for over-populated countries like Bangladesh. Therefore, we need to give proper
attention this issue. It also helps to increase foreign reserves, national savings and
investments. From socio-economic point of view it uplifts living standard, social status and
help ensuring basic needs. Therefore, it is very vital for the acceleration of economic growth
in Bangladesh. Remittance has some problems also but they are very minor in comparison
to its overall benefit. So, government, concerned authorities and the people of Bangladesh
have to take proper care about remittance considering its importance in our economy.
There have several rules & regulations of the Government, & the Bangladesh Bank
regarding banking activities & remittances in our country. EXIM Bank Ltd. has been trying
to maintain all the rules & regulations, & by maintaining these- the Bank operates its
business very successfully from its beginning. The Bank has already developed a good
image & a strong goodwill among its clients by offering excellent services. Though banking
is a dynamic business, & rivals are increasing rapidly, but the Bank is most successful one
only because of the commitment of its members, & dynamic leadership of its management
team over the period of time.
The philosophy of EXIM Bank is- Together Towards Tomorrow to be upheld always for
its successes. I wish EXIM Bank and everybody therein zenith success.
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