Remittance management system of Sonali Bank Ltd.

Abstract

This report is prepared to fulfill the requirement of MBA program of BRAC University on “Remittance Management System of Sonali Bank Limited”. I have chosen Sonali Bank Limited because it is the largest financial organization in Bangladesh. It has a great financial influence over the country. It provides the major portion of funding to some income generating and economic development projects namely Poverty alleviation, Credit program, and Agro-based Industrial Credit program in the rural areas, it has a large participation in foreign exchange business and off balance sheet activities. I am also a proud member of Sonali Bank Ltd, Wage Earners’ Corporate Branch, Dhaka which also help me to collect all information properly to find out the actual foreign remittance scenario of Bangladesh and mainly through Sonali Bank Ltd. The prime focus of this study is to highlight and analyze the Inward Foreign Remittance condition, year-wise, country-wise analysis, discussion of different source of remittance of Sonali Bank Ltd, Remittance Management System (RMS) & distribution process etc. This is the new invention of Sonali Bank Limited to process and credit the foreign remittance within 8-24 hours to the beneficiary accounts. Here I tried my best to focus on the overall scenario of Foreign Remittance management in Sonali Bank Limited. This study is divided into several sections. In the first section, it is the introductory part namely Introduction, Objectives of the study, Research methodology, Limitation and Coverage of the study. In the second section the background of the Sonali Bank Limited has stated briefly and the organization set up of the bank. The third section is about internship experience. The next section deals with Foreign Remittance, Remittance Management System (RMS), and contribution of remittance to the national economy & Findings of the study. Last chapter deals with Problems of Sonali Bank Ltd, SWOT analysis, conclusion and some recommendation to overcome the problems and reaching a new level of service in financial sector of Bangladesh.