Foreign trade activities of Bank Asia Limited (MCB Banani branch)
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The economic development of a country depends mainly on the activities of commercial Banks. Especially a country like Bangladesh, our agricultural, industrial and economic developments are very much depending on horizontal operation of Banks. So we have to ensure the efficient and effective performance of this sector. Bank Asia Ltd is one of the largest profitable Bank of Bangladesh. The main purpose of the Bank is to give all of banking services at the doorsteps of the people. The bank plays a modern role in handling foreign exchange transactions. This internship report is aimed at providing a full picture to the areas of "Foreign Exchange Activities” of Bank Asia Limited. Foreign trade operation is one of the important functions of the bank. It plays a vital role in on the whole economy of the country. In Foreign trades it has Import and Export section and foreign remittance department it has inward and outwards remittance. In the report, the entire procedure has been published with the full of essential data. All the clauses and steps are undoubtedly mentioned. The details about Letter of credit i.e. classification of L/C, L/C opening procedure, documents checking and transmitting L/C Amendment, types of L/C, L/C payments moods, required documents, why it is required and when is required and lodgment system. When document is going out go off what the last step of retirement and reports to the Bangladesh Bank and also disclose the matter about export procedure. The process began to get the ERC (Export registration certificate) by chief controller of import & export office. After that, receiving the letter of credit and advising L/C, necessary document collection and also reports to the Bangladesh Bank. At the end of time, export section, bank issued PRC (Proceeds Realization Certificate) for the exporter. At last, the foreign trade remittance process and performance analysis.