Foreign exchange operation of National Bank Limited

Abstract

An internship program is very important & essential for acquiring experience through learning and spreading the scope of Knowledge. I have done my internship program in National Bank Limited. This internship report is aimed at providing a comprehensive picture to the areas of Foreign Exchange operation of National Bank Limited. The report has been divided into eleven parts. These are: Introduction, Corporate review of National Bank Limited (NBL), Foreign Exchange, and Documents Used in Foreign Exchange Business, Letter of Credit (L/C), Import, Export, Foreign Remittance, Findings and Analysis, References. National Bank Limited is one of the largest commercial Bank of Bangladesh. The main objective of the Bank is to provide all of banking services at the doorsteps of the people. The Bank also participates in various social and development programs and takes part in implementation of various policies and promises made by the Government. National Bank Limited plays a pioneering role in handling foreign trade and foreign exchange transactions. With wide network of branches at home and a large number of correspondent banks worldwide, it is handling the largest volume of export-import business including homebound remittances. For this reason, Foreign Exchange of the Bank is very much essential. But, now a day’s banking sector of Bangladesh is suffering the disease of default culture which is the consequence or result of bad performance of most banks. There are three types of modes of foreign exchange market, which are: Export Financing, Import Financing and Foreign Remittance. Foreign Exchange Branch does these foreign exchange activities vastly. In this report, I mention the overall operating procedure of foreign exchange transaction of National Bank Limited (NBL). I also mention the findings of my report and describe the recommendation to overcome the limitation. I have taken all the reasonable care to ensure the accuracy and quality to make the report standard. And I believe that it has included all the necessary information to be relevant.