Role Played by Banks in the Development of a Country

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1.1Scene behind the Study

Banks play an important role in the development of a country. Bangladesh Government and Central Bank developed implemented different rules and regulation on behalf of the healthier economy. World Bank also gave his favorable eyes to restructure the banking society. “MBM- for 21st centuries banking” is the most dynamic innovation for the new millennium. This internship program is part of our Academic structure. I have tried my best in be oriented with the practice of banking in real life.

Modern banks play an important part in promoting economic development of a country. Banks provide necessary funds for executing various programs underway in the process of economic development. They collect savings of large masses of people scattered through out the country, which in the absence of banks would have remained ideal and unproductive. These scattered amounts are collected, pooled together and made available to commerce and industry for meeting the requirements. Economy of Bangladesh is in the group of world’s most underdeveloped economies. One of the reasons may be its underdeveloped banking system. Government as well as different international organizations have also identified that underdeveloped banking system causes some obstacles to the process of economic development. So they have highly recommended for reforming financial sector. Since 1990, Bangladesh Government has taken a lot of financial sector reform measurements for making financial sector as well as banking sector more transparent, and formulation and implementations of these reform activities has also been participated by different international organization like World Bank, IMF etc.

In 1996, World Bank published ‘Bangladesh: Agenda for action’ in which it has suggested a lot of recommendations for economic development of our country. These recommendations include special presentation for reforming banking sector. In this agenda, World Bank has suggested to introduce MBM as follows:

“Professional sings the banking business will generate large, long term payoffs in the form of a more efficient banking system apart from functional and technology-related training required at Bangladesh Bank and the commercial banks. Consideration should be given to starting a Masters in Bank Management program at the Bangladesh Institute of Bank Management.”

Our high banking official has also felt the importance of having entry-level officer who are well educated in banking field. Accordingly, MBM program has been started in earlier of this year.

The entire fourth term of this MBM program has been designed for gaining practical knowledge about banking and all the MBM students are required to go to various financial institutions for practical exposure. Having completed practical orientation, all the students are also required to submit a report on their experience.

1.2 Objectives of the Study

The primary objective of this study is to attend the course of Practical Orientation in Banks, which is the subject of MBM 4th Term. But the objective behind this study is something broader. Objectives of the study are summarized in the following manner

a. To comply with the entire branch banking procedures

b. To make a bridge between the theories and practical procedures of banking day to day operations

c. To understand the terms that has been taught in the last nine months in BIBM and the courses that will be taught in the next year courses

d. To analyze the performance of the branch as well as IFIC Bank Limited as a whole.

e. To have some practical exposures that will be helpful for my second year courses in the MBM program.

1.3Important of the Report

This report is prepared to give a concrete idea about the dealing and transactions of any Commercial Bank. I believe that my report will help a lot those who want an orientation about...
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