3.

1 Internship Duties and Responsibilities

Internship in IBBL (AD Bangshal Branch), Already I had done. The Branch is located at Puran
Dhaka, (1st Floor), 222, Bangshal Road, Dhaka. This branch is an AD branch of IBBL. During
internship period, it worked on many departments of this bank each are General Banking
Department, Investment Department and Foreign Exchange Department.
3.1.1 General Banking Department
It was assigned for the first time after getting the order of internship program. I had opportunity
this department only for learning 10 Days for Account Opening, Cheques and Payment Order,
General Ledger, Clearing and Transfer, Alternative Delivery Channel (ADC), Locker Service,
and also learning Account Balance checking from MIS software etc.
Everyday this branch Opening many accounts like Al-Wadiah current account, Mudarabah
Savings Account, Student Mudarabah Savings Account, Mudarabah Term Deposit Account:
3/6/12/24/36 Months term. Every day it opens 20 to 30 accounts. They are providing me
learning opportunity very accurately, systematically and centralizing the desk to. I am doing the
following tasks:
1.
2.
3.
4.
5.
6.
7.

Provided the account opening from to the customers.

Helped the customer about how to fill up the account opening from.
Gave the signature card with account opening from.
Filled up the customers transaction profile and know your customer (KYC) form.
Added the check list in front of account opening form.
Gave the branch seal and signature verified seal of respective areas.
Filled up the account closing form, signature changing form, transfer account in branch

wish etc.
8. To learn how to transfer the customer amount of money by payment order.
9. Face to face dealing with customers such as knowing them about their cheques books
status, account balance status.
10. To provide them the cheques books and activate it on software named STELAR.
11. To learn general ledger in every days transaction and how to write down the Voucher
(Debit/Credit voucher) in this ledger sheet.
12. To learn the locker services.
13. To learn Check Clearing in Bank wished by BACH Systems.
14. Update the old format account and call the account holder to provide their information.

15. Provide service on phone call such as cheques book status, account balance status etc.
3.1.2 Investment Department
In investment section it learns different mechanisms of investment. I had also passed this section
only for 10 days. Investment can be made by the Islami Bank under the following modes: BaiMurabaha, Bai-Muajjal, Bai-Salam and Hire purchase under Shirkatul Meelk (HPSM).

Figure: 3
Source: From www.google.com

Basically, they are provided the investment in Bai-Murabaha called like: Bai-Murabaha TR and
Bai-Murabaha.
Bai-Murabaha TR: Bai-Murabaha TR may be defined as a contract between a buyer and a
seller under which the seller sells certain specific goods permissible under Islamic Shariah and
the Law of the land to the buyer at a cost plus an agreed upon profit payable today or on some
date in the future in lump-sum or by installments. The profit may be either a fixed sum or based
on a percentage of the price of the goods.
Bai-Murabaha: "Bai-Murabaha" means sale for an agreed upon profit. Bai-Murabaha may be
defined as a contract between a buyer and a seller under which the seller sells certain specific
goods permissible under Islamic Shariah and the Law of the land to the buyer at a cost plus an
agreed upon profit payable today or on some date in the future in lump-sum or by installments.
Bank only the seller who is buy the goods or products and storage the warehouse and sell the

products to buyer part by part and buyer also pay the amount of money this products. This
mature time computed for only 1 year or 365 Days.
The profit may be either a fixed sum or based on a percentage of the price of the goods. BaiMurabaha agreement
In Investment the following documents are submit by the Clients from investor. This Document
may call Charge Document or Disbursement Document.
Customer may provide:
1. Know the customers details
2. Collect the NID card photocopy, Trade license, T.I.N, VAT certificate, Membership
Certificate etc.
3. Two copies of recent passport size photo.
4. Receipt the customer application form with own organizational pad with attested seal and
signature.
5. Receipt the product sellers Bill and Quotation
6. Receipt an empty cheque or payment order with buyers signature.
7. Personal guarantee of the owner of the property/propriety.
8. Last couple of years buying and selling information, Balance sheet.
9. List of Debtors and Creditors.
10. Store goods information
Bank may provide:
1. Demand Promissory note.
2. Demand Promissory Delivery letter.
3. Letter of Disbursement
4. Balance confirmation letter
5. Letter of confirmation letter
6. Bai-Murabaha Agreement
7. Agreement for pledge of goods
8. Letter of Hypothecation
9. Trust Receipt (TR)
10. Letter of Guarantee
11. Letter of Authority
12. Letter of Continuity
13. Letter of Agreement
14. Delivery letter

In investment section I complete the application from and check the necessary documents are
given or not.
3.1.3 Foreign Exchange Department
Lastly, I had passed this section for 10 days; its a great opportunity and also experience for me
which may I concern and learn about Foreign Exchange Department with successfully. It works
same of time in Foreign Exchange section of my internship period. Foreign Exchange
department divided with 3 sections Import, Export & Remittance section. In Import section the
work was completes the LCAF by given information about Performa invoice, Commercial
Invoice and other necessary documents. Foreign Exchange department is highly sensitive sector
in every bank because Bangladesh Bank directly involve in this sector. So every employee is
more conscious about their work.
The following essential terms should be incorporated in the text of L/C at the time of opening it.
In Import & Export documents are collecting from customers for LC Opening- like:
1.
2.
3.
4.
5.
6.
7.

Application Form
Trade License
TIN Certificate
VAT Certificate
Import & Export Registration Certificate from CCI&E
Association of Business Membership Certificate
No Objection Certificate

Import processing with LC:

1. Collection of documents
2. LC Opening
3. Charge deduction and forward
4. Receive documents of LC and lodgment
5. Pro-forma invoice
6. Insurance covered letter
7. Letter of Credit Authorization form for Commercial or Industrial (LCAF)
8. IMP with Bill of Entry
9. Charge Document
10. Bill of Leading
11. Payment Clause

Export processing with LC:

1. Receive Export LC from Tradeware (IBBL Software web link name)
2. Pre Shipment Investment
i.
Back to Back LC
ii.
Bai-Salam: Post shipment
3. Issue Export
4. Send Document to respective bank
5. Post shipment investment
6. Receive FDD/PO and send for collection
7. Realization
My internship program I had worked 10 working days at foreign exchange department. The
following tasks are done by me under foreign exchange department.
1.
2.
3.
4.
5.

Made the IMP for filing the Letter of Credit(L/C)

Gave the seal of authorized person in the L/C file
Cut the pro-Forma Invoice and Commercial invoice for making the IMP
Added the checklist in front of IMP file
In the IMP form I entry the Description the product, H.S Code number, country of origin,
country receiving payment, port of loading, port of discharge, country code, currency,

currency code etc.

6. To collect the foreign remittance from this of types, like_ endorsement, Indantor, agent
Commission, wage earners etc.

3.2 Internship Learning Points

It works almost in the all department of this branch except cash and clearance. Tried to learn
general banking activities as such possible & dealt with customers directly. Here it is going to
mention my key points from different sections of division:
1. Account Opening: While worked in this section, have learnt about necessary condition
& documents to open an account and different features of deposit mix of IBBL. It also
observed that most of the people are opening AWCA, MSA, MTDRA, and SMSA.
2. Account closing: From this section, it has learnt the process of closing an account. To
close account, the account holder needs to apply in a form supplied by the bank
mentioning his/her account balance. Then the authorized officer approves the application
and the account is out from the general ledger.
3. Check Issue: If any client need cheque book I put his/her account name and account
number with the mobile phone number in to the register book. I also provide him/her the
cheque book collection date.
4. Investment Section:
i.
How to utilization the deposit of IBBL
ii.
Mortgage formalities at the time of taking loan by the client.
iii.
The procedure of loan sanctioning.
iv. Risk assessment factors
v. The steps of investment recovery procedure of IBBL
vi.
How to know your customer (KYC).
5. Foreign Exchange Division: In this division, it opened the file of different clients. It has
learn from these files what papers are necessary for opening L/C. FSIBL frequently gives
opportunity to open Back to Back L/C to its trusted client keeping their master L/C as
line.