Foreign exchange operations of Social Islami Bank Ltd.

Abstract

This internship report has been structured on “Foreign Exchange Management of Social Islami Bank Ltd” which is prepared as partial contentment of BBA program of the department of BRAC Business School of BRAC University. This report will provide a proper understanding of the structured topic. Social Islami Bank Limited started its journey on 22nd November 1995 as a commercial bank following Islamic shariah. The performance of Social Islami Bank Limited in the last 20 years was quite impressive. From the beginning, this bank has gone through a long path to establishing itself as a reputed Islamic Bank of the country. In recent times Banking sector is considered as one of the most growing and potential sectors in Bangladesh. The motto of Islamic banking is making a profit like other banks but following Islamic values. As in Islam, the interest is strictly prohibited the Islamic banks mainly following the profit-sharing system to make the final revenue. Foreign Exchange business is considered as one of the most revenue earning transactions for any commercial bank. It plays an important role in a country’s export-import business. Considering this SIBL has emphasized its foreign exchange business. Launching Central Trade Processing Unit based on two locations Dhaka and Chittagong is an example of this. This report is all about SIBL’s foreign exchange management. This report illustrates the ideas about activities, operation strategies, Foreign Exchange management, and overall performance.