Instruments of foreign trade finance of Dhaka Bank Limited : CPC trade operations

Abstract

The banking sector of Bangladesh plays a significant role in boosting the economy of the country and Dhaka Bank Limited is recognized as one of the reputed Private Commercial Banks of the country. Dhaka bank Limited started its journey as a Public Limited Company on April 6, 1995 but now it operates as a Private Commercial Bank which has its presence at 78 locations across the country. Dhaka Bank Limited registered itself in the Dhaka Stock Exchange and Chittagong Stock Exchange in the year 2000. The bank has products and services ranging from Consumer Banking, Corporate Banking, SME Banking, and Islamic Banking to Foreign Trade Financing. Considering the importance of foreign trade financing, Dhaka bank Limited has centralized its trade operations in the year 2009 by establishing CPC Trade Operations that carries out the foreign trade financing activities of the Authorized Dealer branches (AD). The foreign trade financing activities of CPC Trade Operations are facilitated by the use of various instruments like Letter of Credit, Loan against Trust Receipt (LTR), Indent, Proforma Invoice, Commercial Invoice, Bill of Exchange, Letter of Credit Authorization Form, Bill of Lading, Shipping Guarantee, Packing List, Air Waybill, Bill of Entry, Customs Import Declaration, Customs Export Declaration, Clean Report of Findings (CRF), EFTN, etc. Moreover, CPC Trade Operations is well equipped with trained officers who are expert in proper utilization of the instruments and other resources and delivers risk free, convenient and smooth service to their export and import business clients and helps in building long lasting ties with them. CPC Trade Operation helps the export and import business to flourish and boosts the economy by earning foreign exchanges and remittances from the overseas nations.