Foreign exchange operations of Mercantile bank limited
AuthorHasan, S. Q. Ariful
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This report is all about “Foreign Exchange operations of Mercantile bank Limited”. One of the largest businesses carried out by the Mercantile bank is foreign trading. Main transactions with overseas countries are respects of import; export and foreign remittance come under the preview of foreign exchange department of Mercantile Bank. International trade demands, a flow of goods from seller to buyer and of payment from buyer to seller. In this case Mercantile bank plays a vital role to bridge between the buyer and seller. The first part of the report contains origin, objective, methodology, scope, limitations of preparing the report. Secondly, it includes a general description about Mercantile bank limited to get a clear view about the bank. It contains overview, vision, mission, structure, organogram, services, etc of Mercantile bank limited. Thirdly, it describes the job responsibilities that I had performed. Fourthly, this part explains three main functions of Foreign Exchange department in a detailed way. It contains import, import procedure, mechanism, source of finance, opening of import L/C, LTR, LIM, import payment, export, export procedure, export policy, mode of payment of export payments, export L/C, foreign remittance, inward remittance, outward remittance etc. Lastly, there are performance analysis, SWOT analysis, findings and recommendations were given to evaluate the position of the bank and how it can perform better in the competition.