Recruitment

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Chapter 2

Introduction

The Social Islami Bank was incorporated in Bangladesh in the year 1995 as a banking company under the companies Act, 1994, all types of commercial banking services as provided by the Bank from time to time besides as a matter of policy. The Banks provides the opportunity to its clients to deposit and lending money also at the same time attractive services are ensured as per the client’s needs wants & demand and It also includes the process of communicating, summarizing and explaining the economic events of a bank within a specific period of time with the principles of Mushataka, Murabaha, Bai-Muazzal and Hire Purchase transaction approved by Bangladesh Bank.  

 
A. Rational of the study:

There are several questions which have arise to my mind when I preferred this topic to working on to complete my internship report regarding the Investment Program of Social Islami Bank Limited. My study willgive me a knowledge of what investment is, what is the present & past situation of investment in Bangladesh, etc. We will also know the basic characteristics, policies, procedures, and other historical scenarios regarding the Investment Programs in Social Islami Bank Limited and also in respect of government of Bangladesh and related Banking Authorities & also what is actually going on at the investment department of Social Islami Bank Limited regarding the Investment. Is the present situation of investment of Bangladesh good or bad, if bad than what are the reasons behind this situation. We will also know that what could be the financial and other losses occurred by Investment by Social Islami Bank Limited & also some recommendation from my point of view.  

B. Background of the organization:

“A bank is any business offering deposits subject to withdrawal on demand and making loans of a commercial or business nature”. There are different types of banks like commercial bank, investment bank, international bank etc. My chosen bank is commercial bank. It is well reputed private bank in Bangladesh named “Social Islami Bank Limited” (SIBL). Social Islami Bank Limited (SIBL) was incorporated in Bangladesh on 1995 as a banking company under Companies Act 1994 to carry on banking business. It obtained permission from Bangladesh Bank (BB) on 22 September 1999 to commence its business. Banks provides the opportunity to its clients to deposit and lending money also at the same time attractive services are ensured as per the client’s needs wants & demand with the changing environment and competition. Activities of a bank permits to open & close accounts, issuing cheque books, remit funds, issue bank drafts, pay order, mail transfer, demand draft, receive cheque for clearing, FDR (Fixed Deposit Receipts) opening with attractive interest rate etc. It also includes the process of communicating, summarizing and explaining the economic events of a bank within a specific period of time.

“Social Islami Bank Limited” (SIBL) is a banking company registered under the companies Act 1994 with its head office in 15 Dilkusha C/A, Dhaka-1000. The bank operates as a scheduled bank under a banking license issued by the Bangladesh Bank, Central Bank of the country. The Bank started its operation from 22, November 1995. SIBL is a capitalized new generating Bank with an authorized capital Taka 10,000 million and paid up capital of Taka 2,987.81 million in 2010 compared to Taka 2,691.72 million of December 2009. Currently the bank has 24 branches of which 12 in Dhaka, 4 in Chittagong, 1 in Sylhet, 2 in Narayanganj, 1 in Bogra, 1 in Khulna, 1 in Rajsahi, 1 in Sirajgonj. The bank undertakes all types of banking transaction to support the development of trade and commerce in the country. SIBL services are also available for the entrepreneurs to set up new venture and BMRE of industrial units. To provide clientele services in respect of international trade it has established wide corresponded banking...
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