Foreign trade activities in Bank Asia Limited

Abstract

The economic development of a country depends largely on the activities of commercial Banks. Especially a country like Bangladesh, our agricultural, industrial and economic developments are very much depending on smooth operation of Banks. So we must ensure the efficient and effective performance of this sector. Bank Asia Ltd 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 plays a pioneering role in handling foreign exchange transactions. This internship report is aimed at providing a comprehensive picture to the areas of "Foreign Exchange Activities” of Bank Asia Limited. Foreign trade operation is one of the significant functions of the bank. It plays a vital role in overall economy of the country. Foreign trade contains Import and Export section and foreign remittance department contains inward and outwards remittance. In the report, the entire procedure has been published with the full of required data. All the clauses and steps are clearly mentioned. 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 Amendment, why it is required and when is needed and lodgment system. When document is going out retire what the last step of retirement and reports to the Bangladesh Bank. And also disclose the matter about export procedure. The procedure began to get the ERC (Export registration certificate) by chief controller of import & export office. After that, receiving the letter of credit and advising L/C, necessary document collection and also reports to the Bangladesh Bank. At the end of export section, bank issued PRC (Proceeds Realization Certificate) for