Professional Documents
Culture Documents
in
Al-Arafah Islami Bank Limited
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1.
Introduction
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2.
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5. Scope
The reports cover the Banking service to the customers especially the customer
service of AL-ARAFAH ISLAMI Bank Ltd. This report has been prepared
though extensive discussion with Bank employees and also with the customers.
The study was kept Ltd. To the head office and Joydebpur Chowrasta Branch of
AL-ARAFAH ISLAMI Bank. This Bank Deal with all type of general Banking
operations foreign exchange and credit operations according to the rules and
regulations provided by the Bangladesh Bank as well as according to Islami
Sharih.
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6. Limitations
Since the Bank personnel were very busy, they failed to given me enough
time to complete the repot.
The clients were very busy, so they were unable to give me much time for
interview.
I carried out such a study for the first time. So, inexperience is one of the
main factors that constituted the limitation of the study.
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performs all
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Chairman
Mr. Badiur Rahman
Director
Director
Director
Director
Director
Director
Director
Director
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Director
Director
Director
Dr. Bahauddin Mohammad Yousuf
Managing Director
M.A Samad Sheikh
Company Secretary
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11.2
Designations
S.O
Officer
Officer
Officer
Officer
Officer
Junior Officer
Junior Officer
10
Junior Officer
11
Junior Officer
12
Junior Officer
13
Asst. Officer
14
Asst. Officer
15
Abu Ahmed
M.C.G-2
16
Md. Tanzid
Driver
17
Md. Habibulla
G.G
18
Tea boy
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To err is human and forgiveness divine is a proverb, the Bank believes, the
customers will not accept, Because for a service they pay for, they want it 100%
defect free. So, improvement of the customer service should always be their
motto. Altered expectoration of the customers has shifted the focus from
resource base productivity to value base productivity.
To operate in the globalize environment, the Banks future plan is to equity all
the units if the Bank with modern technology, they already started Telex, Fax,
E- mail, On-line and Computer network. For the service of its customers round
the clock, it is thinking now installing ATM at suitable place in Dhaka and
others important cities in the country.
Deposits, which are the lifeblood of the bank, are amount other.
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Registered name
Peoples Tower
6-10 floor
36 Dilkusha C/A , Motijheel
Dhaka -1000
Phone- 723255-7, 9568007, 9569353
Telex: 642527 AL-ARAFAH ISLAMIHO BJ
Fax: 880-2-9569353
Email: Al-Arafah @bangla.net
SWIFT
Date of incorporation
June 18,1995
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Authorized capital
250.00 crore
Paid up capital
85.42 crore
Reserve
59.97
A. Introduction:
The general Banking Department doses the most important and basic of
the Banks. All other departments are liked with this departments are liked with
this department. It also plays a vital role in deposit mobilization of the branch.
AL-ARAFAH ISLAMI Bank Provides different types of accounts locker
facilities and special types of saving Scheme under General Banking. For proper
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function and excellent customer services this department is divided into various
sections namely as follow:
Accounts opening sections
Cash sections.
Deposit sections.
Bill and clearing sections.
FDR sections.
Accounting sections.
This section deals with opening of different types of accounts. It is also deals
with issuing of books and different deposit books to the different accounts
openers. A customer can open different types of accounts through this
department such as:
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Current Account:
Current Account is an account where the account holders can make numerous
transactions with in a working day. There is no restriction on the number and the
amount of with drawls from the current within availability of funds.
i. Proprietorship firm:
There is a different account opening from for the proprietorship firm by the ALARAFAH ISLAMI Bank Ltd. For this account, a customer must need to submit
the papers with the from:
Photograph.
Signature and Rubber- stamp seal of the client.
And introducer of AL-ARAFAH ISLAMI Bank Ltd. Introducer must be
account holder.
Chairmen certificate of the proprietor.
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Trade license.
Voter ID Card
Current deposit account is opened with neither a sum of nor less than 1000. The
introducer must attest photographs.
Photograph.
Signature and Rubber-stamp seal of the service receiver.
Chairman certificate of the partners.
And introducer of AL-ARAFAH ISLAMI Ltd. Introducer must be CD
Account holder.
Trade license.
Partnership deed registered by Notary public.
Partnership letter along with address and signature.
Voter Id Card.
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Current deposit Account is opened with neither a sum of nor less than Tk. 2000.
The photographs must attested by the introducer.
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A separate account from is used for limited company. There are two kinds of
limited company public company and private limited company. The Bank
always takes precautions for opening this type of accounts. 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:
Photograph.
Signature and Rubber- stamp of the client.
Chairman certificate of the owner.
An introducer of AL-ARAFAH ISLAMI Bank of Bangladesh Ltd.
Introducer must be CD account holder.
Trade license
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Photograph.
Signature and Rubber- stump seal of the client.
Chairman certificate of the directors.
An introducer of AL-ARAFAH ISLAMI Bank Ltd. Introducer must be
CD account holder.
Trade license.
Certificate of Incorporation.
Certificate copy of memorandum and articles of association.
List of directors as per return of joint stock Company with signature.
Certificate of commencement of business.
The following document duly completed shall be obtained from the customer
at the time of current deposit account of
Association/Club/Charity/Trust/Society etc.
Photograph.
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SL. NO
Name of Account
Interest rate
Saving Deposit
6%
4%
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The saving period is for5, 8, 10, or 12 years. Monthly installment rate is Tk.
500, Tk. 2000, or Tk. 5000.
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In case the deposit falls to make the monthly installment in time there
will be no charge added with the following months installment.
ix. Withdrawal
x. Loan advantage:
After 3 years of saving in this Scheme the depositor (in an adult) is eligible
for a loan up to 80% of his deposited amount. In that case, interest rates on the
loan will be applicable as per prevailing rate at that time.
Reasons for disqualification from this Scheme:
If the depositor fails to pay three installments in a raw, then he will be
disqualified from this Scheme and interest will be applicable as
mentioned in withdrawal clause.
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In case of death of the depositor the Scheme will case to function. The
amount will be handed over to the nominee of the deceased depositor. In
case of absence of the nominee the bank will hand over the accumulated
amount to the successor of the deceased.
Rule:
The depositor can select any of the installment accounts. Which can not be
subsequently changed?
Incase of minors the guardians may open and supervise the account in his
favors.
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A single person can open more then one account for saving under several
installment rates.
The accumulated deposit with interest will be returned within one month of
completion of a term.
The depositor should notify the bank immediately of any change of address.
The government tax will be deducted from the interest accumulated in this
Scheme.
The bank reserves the right to change the rules and regulations of the
Schemes as and when deemed necessary.
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Years Monthly
Monthly
Monthly
Monthly
Installment
Installment
Installment
Installment
(Tk)
(Tk)
(Tk)
(Tk)
500
1000
2000
5000
39041
78082
156164
390411
74202
148404
296809
742024
10
105095
210190
420380
1050952
12
144461
288923
577847
1444618
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The Bank provides to the customer a deposit receipt after opening the
account. This receipt is non- transferable.
Monthly Deposit
Matured Amt.
3
4
Amount
23950
16950
1000000
1000000
12750
1000000
9950
1000000
8000
1000000
10
4600
1000000
12
3345
1000000
15
2170
1000000
20
1150
1000000
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Monthly Deposit
Matured Amt.
3
5
Amount
2375
1275
100000
100000
670
100000
10
460
100000
12
335
100000
Monthly Deposit
Matured Amt.
3
4
Amount
239500
169500
10000000
10000000
127500
10000000
99500
10000000
80000
10000000
10
46000
10000000
12
33450
10000000
15
21485
10000000
18
14330
10000000
20
11100
10000000
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The work of case receiving counter is examining deposit slips. Depositor user
the prescribed deposit slip supplied by the Bank for deposit cash, draft, cheque,
pay order etc.
In all types of deposits teller must cheek the following things:
After checking all these things the teller will accept the cash, cheque, draft, pay
order etc. Against deposit slip, the teller will please the cash in the drawer
account to denominations. The teller will place signature affix cash receipt,
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rubber stamp seal and record in the cash received register book against the
account number, at the end of this procedure, the cash officer passes the
deposits slip to the computer section for posting purpose and returns the
customers copy.
Accounting treatment:
Date
Particulars
Cash A/C
Dr.
Debit
Credit(Tk.)
Xxx
Xxx
To Customers A/C
He must see if the cheque is postdated .A letter must not pay post- dated
cheque.
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The officer must carefully see the apparent tenor of the cheque. If it is
mutilated of materially altered then the officer must not honor it.
The offer must compare the signature of the cheque with the signature of
the specimen signature card.
Padding a cheque:
After verifying the above mentioned things the offer 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.
Account treatment:
Date
Particulars
Debit(Tk)
Credit(TK)
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Xxx
To Cash A/C
Xxx
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Banks have a wide network of branches over the country and offer
various kinds of remittance of the public. The main instrument used by the ALARAFAH ISLAMI Bank of remittance of funds is:
Payment order (PO)
Demand Draft(DD)
Telegraphic Transfer(TT)
On-Line Transfer.
(DD by Cheque/cash)
Date
Particulars
Cheque/Cash A/c
To Demand Draft
Debit(Tk.)
Dr.
Credit(Tk.)
Xxx
Xxxx
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To DD commission A/c
Xxxx
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There are some different between pay order and demand draft, which are:
In case of demand draft both the payee need to have account. But there is
no certain rule for pay order.
PO is used in the same clearing area. DD is used for all kinds. DD can not
be done in the same clearing area.
DD is drawn on a certain Bank officer. But there is no certain rule for PO.
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17. My Findings
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SL No:
Comments
No of person
Percentage
Very Good
35
35
Good
60
60
Fair
Poor
Total
100
100
Interpretation:
From the data analysis we can see, most of the clients agreed that banking
environment of AL-ARAFAH ISLAMI Bank is good. Some people committed
it is very good and a few said that its fair.
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SL No.
Comments
No. Of person
Yes
95
95
No
Some times
Total
100
100
SL No.
Comments
No. Of person
Yes
60
60
No
40
40
Total
100
100
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Interpretation: from the analysis it is found that customers are getting more
facilities comparing to other bank. 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.
will help the customer. It is badly needed to provide modern Banking services
such as Credit Card, ATM card, Visa card etc. AL-ARAFAH ISLAMI Bank is
providing better service comparing to other privet Banks. But there are almost
52 Bank in our country. In the near future some new banks are going to be
opened. So, in order to complete in the market AL-ARAFAH ISLAMI Bank
should be have to improve their service. They should increase their manpower
and will have to improve their service quality and provide more facilities.
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20. Recommendations
Banking is service oriented marketing. Its business profit depends on its
service quality. Thats why the authority always should 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 person.
Bank should offer Bank is launching Customer Credit Scheme ALARAFAH ISLAMI Bank is failing to launch this kin of Scheme. The
management can undertake such sort of Schemes and earn more profit.
As soon as possible the Bank should stat more benches in Dhaka City as
well as the other cities of the country.
Now a days world is going very fast. Now most of the Bank opens
online customer service system. So, in order to compete in the world
market they should adopt online Banking system.
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.
The recruitment process of the Bank is very length an expensive. The
bank should select the employee by reducing the lengthy process.
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21. 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 provide prompt and efficient service to clients, ALARAFAH ISLAMI Bank ha successful celebrated its sixty years of operation. It
provides a wide rage of commercial banking services AL-ARAFAH ISLAMI
Bank has a achieved success among its peer group within a short span of time
with its professional and dedicated team 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 h 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. ALARAFAH ISLAMI Bank is engaged in modern banking. It is expected that ALARAFAH ISLAMI Bank by its efficient Asset and liability management will be
able to maintain its trend of growth and thus overcome the threat. Neither ALARAFAH ISLAMI bank nor any other commercial bank can effectively combat
risk. However, AL-ARAFAH ISLAMI Bank having small and targeting niche
markets is likely to be less affected by restrictive monetary and / or 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 within tolerable limit having little
material impact on future profitability as well as net worth. Although ALARAFAH ISLAMI bank is yet to be fully automated and it proceeding
aggressively to enhance its technology level. As AL-ARAFAH ISLAMI bank is
performing good in traditional general banking and there is a good demand for
Islamic Banking and the opining if then (The management) that the
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performance of the Bank is getting much better than past. I wish and hope that
in future AL-ARAFAH ISLAMI Bank will be Number one commercial Bank in
Bangladesh.
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