Origin of the Report
This is a report of internship program of MBA, supervised by Md. Monzur Morshed, Assistant Professor, Faculty of Business Studies, University of Dhaka. The intern was placed in "The Hongkong and Shanghai Banking Corporation Limited" for the three months internship to have a practical grasp over the organization's activities. The Topic of the report is proposed to be " An Appraisal of Import Letter of Credit" would cover a critical financial analysis of the Import Operation of the Trade services department of the HSBC.
Objectives of The Report
The primary objective of the report is to meet the Compulsory requirement of submitting a report that is an essential part of the internship program at HSBC. The secondary objective is to apprize the HSBC with special references to Trade Services activities.
As the report is based on two major criteria; one is organization part and second one is project part or the analytical part. Specific objectives are presented as follows:
To present an overview of HSBC
To appraise the Import L/C financing by HSBC
To recommended the remedial majors for the improvement of Import L/C financing by HSBC.
The Scope of The Study
The report will mainly focus on how HSBC Bangladesh are providing documentary credit facilities to importers located in our country and how their trade services are making our transaction methods worldwide more acceptable.
The report is based on primary and secondary data. For data collection following methods are followed:
On the Job observation
By reading books of different foreign Exchange guideline 3.
Browsing the Wed site of the HSBC Bangladesh Limited.
Finally, through conversation with the different level executives of The HSBC. 1.5
Source of Data
Both the primary as well as the secondary form of data was used to prepare the report. The details of these sources are highlighted below.
1.5 (a) Primary Sources
Major sources of primary information were discussions with Mr. Zakir Hussain Chowdhury, Assistant Manager, Trade Services.
1.5 (b) Secondary Sources
Secondary information was collected from relevant documents and literature, BIBM Guide, HSBC Internet web sites, Trade Services ABC guide, UCP 2000.
Other secondary sources were books on foreign exchange and trade services.
LIMITATIONS OF THE STUDY
An Internee has to complete the internship and prepare an internship report within short time. In briefly, I faced following limitations during the time of preparing this report.
Due to time shortage, details of many aspects of the services of HSBC Bangladesh Limited have been skipped in this report.
One of the main barriers in writing this report was the confidentiality of data. Though I saw their internal procedure that is being used in processing and evaluating any documentary credit, but I was told strictly not to disclose that even in my internship report.
Deficient comprehension of the respondent was another major problem.
THE HONGKONG & SHANGHAI BANKING CORPORATION
AN OVERVIEW OF HSBC
The HSBC Group is named after its founding member, The Hongkong and Shanghai Banking Corporation Limited, which was established in 1865 in Hong Kong and Shanghai to finance the growing trade between China and Europe.
Thomas Sutherland, a Hong Kong Superintendent of the Peninsular and Onental Steam Navigation Company helped to establish this bank in March 1865. Then, as now, the bank's headquarters were at 1 Queen's Road Central in Hong Kong and a branch was opened one month later in Shanghai. Throughout the late nineteenth and the early twentieth centuries, the bank established a network of agencies and branches based mainly in China and South East Asia but also with representation in the Indian sub-continent, Japan, Europe and North America. In many of its branches the bank was the...
Please join StudyMode to read the full document