Foreign trade activities of Bank Asia Ltd. (MCB Banani Branch)

Abstract

As a broad policy objective in respect of small industry like financing, a bank undertakes tasks like extending financial assistance to small industries in private sector, financial assistance to micro-enterprises and collaborating with other institution engaged in financing and developing such enterprises. While preparing this report I have tried my level best to reveal the insights of the Foreign Trade Department and the performance analysis of the bank with a few recommendations and suggestions which are prescribed based on the observations and findings. It was established in 1999 with a view to providing financial assistance including all kinds of banking facilities to accelerate the pace of development to the small industry of Bangladesh. This particular report stands for the Foreign Trade Activities of Bank Asia Limited (MCB Banani Branch). Foreign Trade Operations is one of the most significant functions of any bank. Bank Asia’s Foreign Trade department is also one of it’s most important department specially for this branch. It plays a vital role in the overall economy of the country. Foreign trade mainly contains Import Section, Export Section and Foreign Remittance department. The Foreign Remittance department is again consists of Inward Remittance and Outwards Remittance. In this report, the entire procedure has been published with the full of required data that was available anywhere and everywhere. All the clauses and steps are clearly mentioned in this report. The details about Letter of credit i.e. classification of L/C, L/C opening procedure, types of L/C, L/C payments moods, required documents, documents checking and transmitting L/C. I have also tried discussing about the export procedure along with the Foreign Remittance part. This project also included the basic knowledge about the products and offerings of the other two departments of this branch that are General Banking and Credit Department.