Sonali Bank Report
Executive Summary:
Sonali Bank Limited is the largest State-owned commercial bank in Bangladesh. It was established under Bangladesh Banks Nationalization Order-1972, President’s Order No.26, 1972 consisting of National Bank of Pakistan, Bank of Bhawalpur and Premier Bank. Sonali Bank Limited was registered on June 3, 2007 as a Public Limited Company under Companies Act, 1994 with the joint stock companies and firms for managerial efficiency and developing bank service. Bangladesh Bank issued Banking license on June 5, 2007 under the Bank Company Act.1991. The main focus of the Sonali bank Limited is to provide all types of banking services to the door-steps of the people. The bank participates in various socio-economic activities and development programmed. It also takes part in implementation of various plans and programmed made by the Government. As the largest state owned commercial bank, Sonali Bank Limited has the responsibility to run it as a service-oriented and professionally managed leading profitable organization of the country.
As a part of fulfilling their objectives through their customer SBL offers the following accounts: Current Deposits, Savings Bank Deposits, Fixed Deposits, Short Term Deposits, Monthly Term Deposits, Any other deposits as may be approved/ advised by Head Office.
The system of transactions of the bank is essentially double entry system of book keeping. But for quick and accurate recording as well as for arriving at daily financial position specialized form of double entry system book keeping, named slip system under self‐balancing method is followed by the bank. The golden principle of debiting or crediting is the same as those of double entry system. In the bank, instead of recording transactions in a journal initially, these are directly recorded and posted in the ledger (computer) separating the debits and credits by slips or voucher system.
Foreign exchange is an important department of Sonali Bank Limited, which deals
Sonali Bank Limited is the largest State-owned commercial bank in Bangladesh. It was established under Bangladesh Banks Nationalization Order-1972, President’s Order No.26, 1972 consisting of National Bank of Pakistan, Bank of Bhawalpur and Premier Bank. Sonali Bank Limited was registered on June 3, 2007 as a Public Limited Company under Companies Act, 1994 with the joint stock companies and firms for managerial efficiency and developing bank service. Bangladesh Bank issued Banking license on June 5, 2007 under the Bank Company Act.1991. The main focus of the Sonali bank Limited is to provide all types of banking services to the door-steps of the people. The bank participates in various socio-economic activities and development programmed. It also takes part in implementation of various plans and programmed made by the Government. As the largest state owned commercial bank, Sonali Bank Limited has the responsibility to run it as a service-oriented and professionally managed leading profitable organization of the country.
As a part of fulfilling their objectives through their customer SBL offers the following accounts: Current Deposits, Savings Bank Deposits, Fixed Deposits, Short Term Deposits, Monthly Term Deposits, Any other deposits as may be approved/ advised by Head Office.
The system of transactions of the bank is essentially double entry system of book keeping. But for quick and accurate recording as well as for arriving at daily financial position specialized form of double entry system book keeping, named slip system under self‐balancing method is followed by the bank. The golden principle of debiting or crediting is the same as those of double entry system. In the bank, instead of recording transactions in a journal initially, these are directly recorded and posted in the ledger (computer) separating the debits and credits by slips or voucher system.
Foreign exchange is an important department of Sonali Bank Limited, which deals