Overview of Foreign Exchange Operations on Basic Bank Ltd.

Topics: Foreign exchange market, International trade, Currency Pages: 39 (8461 words) Published: April 7, 2011
1. Introduction

1.1 Authorization of the study

Internship program is an excellent combination of convenient and practical way of learning, which enables the students to prepare themselves to face the challenges and to meet the demand of competitive job market. After completion of BBA, the students are sent to different organizations to obtain some practical exposure in different sectors which would help them in building their future professional career. As a student of BBA, I have assigned to BASIC Bank Limited, Shantinagar Branch, Foreign Exchange Division for my practical orientation. As my supervisor directed me to present the report in a way, that would be based on the personal observations from the department I worked in, I have tried my best to acquainted every nook and cranny of foreign exchange Division of BASIC bank Limited, Shantinagar Branch.

1.2 Objectives of the study

The Prime objectives of internship & report preparing are to gather practical knowledge regarding banking systems and operation. This practical orientation gives us a chance to co-ordinate the theoretical knowledge with the practical experience. The following are the objectives for this practical orientation in bank:

➢ To get an idea about the Foreign exchange Business of BASIC Bank Limited. ➢ To acquire knowledge about the every day banking operation. ➢ To help the students in understanding their job market condition. ➢ To apply theoretical knowledge in the practical field. ➢ To understand the real situation of management.

1.3 Scope of the study
The scope of the study is to find out the way of foreign exchange business operation of BASIC Bank Ltd. from the basis of past records, personal observation and manuals. The report covers the following areas:

➢ BASIC Bank Limited at a glance.
➢ Overview of Foreign Exchange on BASIC Bank Ltd.
➢ Foreign exchange operations of BASIC Bank Limited. ➢ Evaluation of performance of Foreign Exchange Division of BASIC Bank.

1.4 Methodology of the study

From my BBA program I have learnt different methodology to collect & analyze data from different sources for the purpose of assignment, term paper, and report submission. To make the Internship Report more meaningful and presentable, I implicate my educational knowledge in practical field to collect data from following sources:

1.4.1 Primary Sources

➢ Face-to-face conversation and interview with the respective officers of the branch. ➢ Observing the procedure of banking activities followed by each department. ➢ Practical work exposures on different desk of the branch. ➢ Informal conversation with the clients or customers. 1.4.2 Secondary Sources

➢ Annual report (2005, 2006, 2007 & 2008) of BASIC Bank Ltd. ➢ Foreign Exchange Manual of BASIC Bank Ltd.
➢ Use of different theories to make the report more relevant. ➢ Internet was another major secondary source that I have used to collect related information to conduct the study.

1.5 Data analysis and Interpretation
Both quantitative and qualitative analyses have been performed on the findings. The quantitative analysis has done in order to evaluate the performance of export- import. Qualitative analysis has made on the basis of foreign exchange policy provided by Bangladesh bank.

1.6 Limitations of the study

In spite of having my wholehearted effort, I could not manage to collect some information that is required to my study for following reasons:

➢ Though my internship period was for 90 days, I had spent only 60 days on foreign exchange division out of which I get 40 working days, because I was assigned to Human Resource Division for 1 month to help them in recruitment procedure. So I faced time shortage extremely.

➢ Learning all the functions of foreign exchange procedure step by step was not possible for me because the AM, under whom...

Bibliography: ➢ S.S. & Kapoor, G.K. (1994) – “Banking Law and Practice”, S Chand & Company, New Delhi,
Page | 34
➢ Annual Report of BASIC Bank Limited Published- 2008, 2007, 2006, 2005 & 2004.
➢ Bangladesh Institute of Bank Management (BIBM), 2000.
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