Errors in account opening, causes and solutions: a study on Dhaka Bank Limited.

Abstract

Dhaka Bank Limited is one of the fastest growing banks in our country and the bank is contributing a lot to our economy with their banking operation since 1995. As a private commercial bank, DBL is trying it’s best to extend their services to the public. DBL, KDA Avenue Branch, Khulna, provides all kinds of commercial banking services to its customers. To be the premier financial institution in the country providing high quality products and services backed by latest technology and a team of highly motivated personnel to deliver Excellence in banking. As an intern I started working in Dhaka Bank on 1st September 2015, and it ended on 30th November 2015. I have worked in the general banking department of the bank. Dhaka Bank gave me the opportunity to work in the banking industry; I got a huge idea on how the whole banking system works. The tasks, that I have performed during the tenure of my internship has surely enriched my skills and this working experience in a bank was very beneficial to me. Bank is a financial intermediary, which mobilizes fund from surplus unit and deploy it to deficit unit. Bank mobilizes the fund by accepting deposits from depositors and allocates the fund by providing loan to borrower. The relationship between a banker and his customer begins with the opening of an account by the banker in the name of the customer. Banker solicits deposits from the public of different walks of life and having different financial status.Accepting deposits is one of the main functions of commercial banks. In DBL various types of accounts are offered to various customers. But there are some errors in account opening process in the banks. As a partial requirement of MBA program I need to go for internship to gather practical experience and need to submit the report regarding that practical knowledge. This report is originated after completing the MBA program from BRAC university of Bangladesh. This report is the outcome of the assigned internship, suggested by the supervisor. The report will definitely increase the knowledge of other students about errors in account opening, reason behind the errors and the possible solutions, and help to know the banking industry of Bangladesh.