Foreign trade operations of banking sectors in Bangladesh with special reference to Standard Bank Limited

Abstract

Now it is the age of modern civilization. Necessity of bank had arisen from the period when paper note had brought into practice. On that movement people anticipated to have organization to deposit and withdraw their money as well as get some loan. On that note, banking begins with the first prototype bank of merchants of the ancient world. First banking was introduced around 2000 BC in Assyria and Babylonia. After that revolution banking was brought in practice in the world. Now bank is playing a excellent role to keep the economic development wheel moving. Now in every economic activity, involvement of bank is obvious. Specially in the case of foreign trade, bank are playing a dominant role for this execution. Parties engaged in foreign are cannot think anything without involvement of bank. Therefore, based on those particular demand Standard Bank Limited (SBL)- the third generation commercial bank, was incorporated on may, 11,1999 with a determination of setting a new standard of banking and achieved satisfactory progress from its commercial operation on June, 03,1999 as well as created a positive impact in the market. The foreign exchange department of the band is divided in three departments. But the export department and import department have vital impact in the bank. The report contains – part 1: introduction of the report, part 2: overview of the organization, part 3: the main part of this report titled ‘foreign trade operation of banking sectors in Bangladesh with special reference to SBL’, part 4: activities undertaken by me during twice my internship period(2014 & 2018) . In the main part of this report, a broad discussion has been attempted to pictures in regard to foreign exchange import & export operations. In the import section, executions of import starting from sale contract to payment have been attempted to explain. And in the export section as well, executions of export starting from registration to export finance have been written accordingly. Apart from those, some analysis of last 5 years on earnings and growth rate of foreign exchange department of SBL have been shown with list and graphical presentation. Moreover questionnaires survey taken from bank’s clients and account holder have been attached with graphical presentation. The report also contains relevant findings and recommendations. Last but not the least, it is to inform that, this internship report has been prepared with great effort. This report is prepared based on observation throughout the internship period at Gulshan2 and mohakhili branch and face to face interviews/conversation of officers and client as well as some secondary sources.