1.1 Origin of the Report
The MBA program is designed to focus on theoretical and professional development of people open to take up business as a profession a well as service as a career. The course is designed with an excellent combination of theoretical and practical aspects. As a student of department of Finance, we have studied several books and attended some seminars on different bank related topics in our MBA program. So we have gathered theoretical knowledge about different activities of banks, policies related to banking applications, technologies adopted by banks and banking businesses in other countries of the world. So we have an overview of different banking activities. It is necessary to gather practical experience for making us compatible in this competitive sector to prove us as the best. This internship provides the students to link up their theoretical knowledge into practical fields. In these commotion, I am assigned to BASIC Bank Ltd. (Bangladesh small Industries and Commerce Bank Limited), Shantinagar Branch for my practical orientation. Students are required to prepare an internship repot under the guidance of supervising teachers on a selected subject matter to highlighting his experience and to conduct an in depth analysis on the subject matter. I have tried my level best to present my experience of the practical orientation in this report.
1.2 Rationale of the Study
The history of foreign exchange in Bangladesh is not very old. Hence there study on the foreign exchange services and trading of banking industry is relatively new and challenging at the same time. Moreover In banking industry foreign exchange department is one of the most technical and lucrative section to be employed. As a MBA graduate I choose to work on this subject to have some practical experience before launching the career in this sector which will help me in future at a great deal.
1.3 Statement 0f the Problem
As a blend of development and commercial banking BASIC Bank provides its clients with full range of service to help them grow their assets and net worth. It serves different types of foreign exchange facilities to customers. Through this it facilitate export, import, exchange dealings etc. For the last few years this service sector experiencing a severe competition with other banks who also offering same types of foreign exchange facilities and innovative packages to customers. Coping with the competitive and rapidly changing financial market of the country this bank maintains close connections with its clients, the regulatory authorities the shareholders (the government of Bangladesh), other banks and financial institutions. Through this study I would like to analyze the strength of the bank’s foreign exchange department. Its impact on overall performance of the bank will also be analyzed here.
1.4 Objective of the Study
The general objective of the repot is to know about the International Trading system of BASIC Bank Limited as a commercial bank as well as its formation and its functional, operational, and financial aspects. Specific Objective
Some specific objectives are-
* To analyze the activities of Foreign Exchange Department of BASIC bank * To identify the impact of foreign exchange earnings on operating income * To evaluate the impact of various determinants of foreign exchange income * To analyze the intensity of the impacts
* To make a judgment about historical performance of BASIC Bank’s Foreign Exchange Department * To analyze strength, weakness, opportunity and threat of Foreign Exchange Department of BASIC Bank Limited
1.5 Methodology of the Study
This report has been prepared on the basis of experience gathered during the period of internship. For preparing this report I have also got the information from annual report and website of the BASIC Bank Ltd.
Sources of data collection
Face to face...
Bibliography: * Griffin, R.G. & Pustay, M.W.(2005), “International Business”, 4th Edition, Pearson Prentice Hall, New Jersey.
* Annual Report: BASIC Bank Limited, 2008, 2007, 2006, 2005 & 2004.
* Foreign Exchange Act. 1947.
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