LC procedures & foreign remittance operations of Mercantile Bank ltd.

Abstract

This report is all about the operations of Mercantile Bank Ltd. and its main concentration is all about the Foreign Dealings and their concentrated areas. One of the largest businesses carried out by the mercantile bank is foreign trading. Main transactions with overseas countries in respects of import; export and foreign remittance come under the preview of foreign exchange department of Mercantile Bank Ltd. Mercantile bank always play a vital role to bridge between the buyer and seller. The first part of the report contains origin, objective, methodology, scope, limitations of preparing the report. Secondly, it includes a general description about mercantile bank limited to get a clear view about the bank. It contains overview, vision, mission, structure, organogram, services, etc of mercantile bank limited. Thirdly, it describes the job responsibilities that I had performed. Fourthly, this part explains three main functions of Foreign Exchange department in a detailed way. It contains Export L/C and its procedures, Import L/C and Its procedures and lastly the remittance operation of Mercantile Bank. At the end of this report I point out some of the findings and recommendations were given to evaluate the position of the bank and how it can perform better in the competition.