Foreign exchange & credit risk management of IFIC Bank PLC

Abstract

The foreign exchange and credit risk management policy, guideline and practice of IFIC Bank PLC has been studied in this report. Detailed introduction of the bank, objectives, scope, methodology, and banks limitations were covered. Company’s overview is shown in the first chapter. The first chapter will bring light to the bank’s mission, vision, goals and its core values also their objective. There is a short description about the bank’s different services and products. Experience of the internship is described in the second chapter, where I highlighted tasks, responsibilities was given to me and the experience of working in a corporate setup. The most highlighted and important part of the report is 2nd and 3rd chapters where experience from the internship and practices of IFIC Bank on its foreign exchange and credit risk management. In addition to that I have added the standard practice maintained by IFIC Bank PLC on their foreign exchange and risk management. Incorporating my experience and implementing the resources and articles from IFIC Banks internal website in this report to enrich the information. The Bank is trying make a robust strategy and tactical move on developing their foreign exchange and credit risk management policy. I have included how this policy and guideline are being implemented and how the Bank officials are directed with the work to enforce these guidelines. I mentioned all the observation and findings also suggesting the gaps I found in the process to overcome the challenges. IFIC Bank PLC has established themselves as one the top commercial banks in the financial sector contributing economy. With over 1300+ branches and sub-branches developing strong network to provide the best customer service. Their “One Stop Service” enables the clients with receiving all services from one place without moving to counter from counter. IFIC Bank is constantly developing and upgrading its technology and focusing more on digital transformation. IFIC Bank very recently received award for their performance and contribution in the financial sector. IFIC Bank is one the way to becoming one of the largest banking channels of Bangladesh in terms of branches and profitability in the upcoming years. IFIC Bank maintains a high work ethic, great work environment, rich organizational culture which gives a fresher great opportunity to learn and gain meaningful experience.