The reports are an exploratory research and for qualitative survey open ended question were ask to the bank official. Sampling: Population: All the Branches of mbl located in everywhere in Bangladesh has been taken into consideration as population. Sample: mbl, main Branch, is the vital sample. Classification, analysis, interpretations and presentation of data: some arithmetic and graphical tools are used in this report for analyzing the collected data and to classifying those to interpret them clearly. Findings of the study: The collected data were scrutinized very well and were pointed out and shown as findings. Few recommendations are also made for improvement of the current situation. Final report preparation: On the basis of the suggestions of our honorable faculty advisor some corrections were made to present the paper in this form.
Report, class of 2001
Ii) The secondary sources writing are: Annual reports of mbl. Foreign exchange of mbl. Periodic reports of mbl. Annual Reports of Bangladesh Bank (BB). Publications of Bangladesh Bank (BB). Office circulars of mbl. Relevant books, newspapers, journals, etc. Mto recruitment materials of mbl. Information kept by branch manager, operations manager in their own files. Collection of data: Primary data are collected by using interviewing technique.
The over all process of book methodology is given in the following page in a form of flow chart that has been followed in the study. Selection of the topic: The topic of the study was assigned by our supervisor. Before assigning the topic it was discussed with me so that a well organized internship report can be prepared. Identifying data sources: Essential data sources both primary and secondary are identified which will be needed to complete and work out the study. To meet up the need of data primary data are used and study also requires interviewing the official and staffs were necessary. The report also required secondary data. Information collected to furnish this report is both from primary and secondary sources. I) The primary sources are: Face to face conversation with the officers. Relevant files study as provided by the concerned officers.
If this limitation were not been there, the presentation report would have been more useful and attractive. Poor Library facility: Most of the commercial banks have its own modern, rich and wealthy collection of huge and various types of banking related books, journals, magazine, papers, case studies, term papers, assignment etc. But the library of Mercantile bank limited is not well ornamented and decorated. Lesser Experience: Experience makes a man efficient. I do such kind of research activity for the first time. Thats why inexperience creates obstacle to follow the systematic and logical research methodology. Methodology of the study : The study requires a systematic procedure from selection of the topic to final report preparation. To perform the study the data sources are to be identified and collected, they are to be classified, analyzed, interpreted and presented in a systematic manner and key points are to be found out.
Short Time period: The first obstruct is time itself. Due to the time limit, the scope and dimension of the study has been curtailed. For an analytical purpose adequate time is required. But I got a short time period to prepare the report. Data Insufficiency: It was very difficult to collect data, because the branch of Mercantile bank limited is very large. But the data is very essential to prepare the report. All of the employees of this branch are very busy. For the time limitation they could not able to supply my topic related data. Lack of Records: Sufficient books, publications, facts and figures narrowed the scope of accurate analysis.
Internship (soc 498) — hunter College
After that, i was sent to the it department of this branch. I worked there for 5 days. Here i learn how to give bank statement, tax purpose statement. After that I was sent to the export section of the foreign exchange department of this branch. I work there for the rest of the period of my paper internship program. In the export section I mainly observed the export procedures, files and documents of different exporters, export proceed collection procedures and compliance of export procedures with the set rules of export policy and Bangladesh bank rules. Actually this period was my area of concentration and activities of this period is mainly focused in my report.
I extended my best effort to collect as much information as possible to prepare my report. The working environment of this division of the mercantile bank limited is conductive and friendly. The staffs are specialized in their respective fields. Each of them works on their own and there is supervision from the top. The motivation of the staff, i believe comes from the very sense of responsibility for his or her work. Mitations of the study: On the way of the study, i have faced the problems that are given below that may be terms as the limitation or shortcoming of the study.
The report covers its overall foreign exchange function. The report covers import, export and remittance activities about mbl. Besides it covers topic such as evolution of banking business, evolution banking business in bd, bangladesh economy scenario, background of mbl has also been discussed. Internship at Mercantile bank limited: my three months at the mercantile bank limited as an internee had been the most enjoyable time of my life. Doing my internship at one of the leading private commercial banks in Bangladesh, i believe i have accumulated an experience unmatched to any other.
I was assigned to the project of A study on the foreign exchange operations of Mercantile bank Ltd. As my project report. I am extremely happy to work in such a project. Though as a student of finance it was a new situation. For the internship program the contact person of the head office sent me to the main branch of the bank. My objective was to get a clear idea about the function of the foreign exchange of the branch. But my host supervisor sent me first to the local Export department to have a preliminary idea and to be acquainted with various types of local export bills and related matters; I worked there for 60 days and learned the procedure of issuance of pay. Then I was sent to the clearing section, of worked there for 20 days and learned how inward and outward checks are cleared, how transfer delivery from one branch to another branch is made.
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Primary objective : The primary objective of preparing this report is to represent the mercantile bank limited and to have a clear conception about all of the essential parts of the internship program. To give an summary idea about the evolution of the banking business. To give an idea about the evolution of banking in Bangladesh. To give an overview of the current Bangladesh economic scenario. To give an overview of the mbl. To give some idea about the international trade, different types of exchange rates, process of executing transactions relating international trade, accounting of these transactions, etc. Scope of the study: As I was sent to mercantile bank limited, main Branch, the scope of the study is only entry limited to this branch.
Ifte Kharul Alam, Assistant Professor hod finance, department of Business Administration, Stamford University bangladesh, assigned me the topic A english study on the foreign Exchange Operations of Mercantile bank limited. I hope this report would able to portray the real picture of the operation of foreign exchange department of Mercantile bank Ltd. Rationale of the Study : This report is broadly organized into two broad parts. The first part (first 3 chapters) is an overview of the organization itself. The second part concentrates on the assigned topic A study on the foreign Exchange Operations of Mercantile bank limited. Finally it includes the evaluation of Foreign Exchange performance, findings, and recommendation to make understood the scope of overall Foreign Exchange with its constraints of mbl. Objective of the study : The objective of the study is to obtain an understanding of the practical banking activities and relate them with theoretical knowledge that I gained through the theoretical training in the university and from various documents of the bank. Beside this, the followings are the specific objectives which I will try to cover in my report:.5.1.
Background of the Study: Mercantile bank limited (MBL) is one of the risen Banks in Bangladesh. This year they have declared 40 dividend to their shareholders. This Bank has already 42 branches located in different places and also going to establish more branches. The Internship program is an essential and mandatory of the bba program of Stamford University bangladesh. After completion of four years theoretical training, i got the opportunity as a practical exposure to business horizon through internship program. Mercantile bank limited is one of the well- reputed private commercial bank of Bangladesh with paid up capital of bdt 1,798.68 (in million, 2008). Banks strong capital base allows it to make large chunk of advances to its corporate clients. My internship supervisor and respected teacher.
With the passage of time it has expanded its number of branches and variety of services along with its core business of taking deposits and granting loans. Now mbl has emerged as a new commercial bank to provide efficient banking services and to contribute socio-economic development of the country. Rising trend of the banks profitability over the last 8 years is also materialized. The mbl is committed to the delivery of the superior shareholders value. Foreign Exchange department of the bank is one of the most important departments. Now it has become the backbone of the bank. With the aim to be the bank of choice, it is operating in the industry with a team of devoted personnel to excel year both their own career and the banks future. Origin of the study: This report is originated as the course requirement of the bba program under the business studies faculty of Stamford University bangladesh. Under this program students of every department of this faculty must go through an internship program of 3(Three) months duration.
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Introduction: Bank is defined as a financial institution that collects deposits from various individual and organizations and provides loans to those who need. But modern banks do not mean only the means of collecting and disbursing money to various entities. Rather it provides various services to various entities which facilitate their business operations. A foreign exchange operation of banks is one of those services that not only facilitates the business of businessmen but also contributes to the development of the economy as a whole. Foreign exchange is defined as the mechanisms by which the currency of one country is converted into the currency of another country. Foreign exchange is the means and methods by which rights to wealth in a countrys currency are converted into rights to wealth in another countrys currency. Foreign exchange department of banks plays significant roles through providing different services for the customers. Background of the mercantile bank limited (mbl mercantile bank limited, incorporated on may 20, 1999 and commenced business on June 02, 1999, is now one of the most important entity database in the banking industry of Bangladesh.