Import Procedure

1 Chapter -01 Chapter -01 Introduction Banks are the key financial institutions that play a vital role in the country’s economy and development. Globalization in the banking sector has thrown up opportunities as well as challenges. Competition is getting edge day by day. It paces with the continuous development occurring in the tremendous competitive environment. Internship program is the systematic process for gathering, recording and analyzing of data about the subject that a student goes to learn on the program. The aim of this Internship program is to connect practical knowledge with theoretical knowledge. Now the world is a competitive world. So everybody has to be expert in both practical knowledge and theoretical knowledge. There are numerous reasons for which I have chosen General Banking Department for my Internship. First of all General Banking Department is the most important Department of any bank as every clients has to enter into banking service through the General Banking. Secondly, As I am working in general Banking Division it will be convenience for me to make a report on General Banking . 2 OBJECTIVE OF THE STUDY: Gather knowledge about the practices followed by Jamuna Bank Ltd. in delivering services under General Banking Department. Other Objective of the report is to familiarize with the operation in the Banking arena including Management overview bank and analysis of banking operation in different section. A.GENERALOBJECTIVE : • To analyze General Banking practices at JBL. B.SPECIAL OBJECTIVE: →To provide an overview of JBL. →To know about GB ( Customer service, Remittance, Cash & Clearing section) practices at JBL. →To find out the problems of GB at JBL. →To provide some suggestions solving the problem. 3 METHODOLOGY OF THE STUDY This report has been prepared on the basis of experience gained during the period of Internship. Data has been collected from primary as well as secondary sources but emphasis has been made more on primary sources. Data sources : The data source used to prepare this report delineated as follows: a) Primary sources- i. Personal interview ii. Depth interview iii. Observation in the organization. iv. Practical desk task. v. Questionnaire b) Secondary sources- i. Annual report of JBL ii. Banks financial statement. iii. Marketing research book. iv. Periodicals. v. Bulletins. vi. Circular. vii. Monthly transaction record of the bank. The collected data and information have been tabulated, processed, analyzed and graphically presented in order to make the study more informative, useful and purposeful 4 SCOPE OF THE STUDY This study is based of on theoretical practical & mathematical analysis. However the scope of the study is confined within the region of Agrabad. I have examined accounts statement of the bank. The major source of primary data in business circular, corporate clients, individual and other customers. Discuss and quires with the executives & officers Going through printed material of the bank. Limitations of the study: Objective of the practical orientation program is to have practical exposure for the students Internship .Programs tenure was for one month only, which was somehow not sufficient. After working whole day in the office it was very much difficult to study again the theoretical aspects of banking. Other limitations are as follows: Research within a short period of time. The duration of our Internship program is only one month. The allocated time is not sufficient for us to gather knowledge and to make the study a complete and fruitful one. The study also suffered from inadequacy of data provided by JAMUNA Bank Limited. 5 Chapter –02 Banking Practice In Bangladesh: History of Banks in Bangladesh: It is very difficult to get a clear-cut origin of the word “Bank”. It is certainly said that the present Banking systems develop after different revolution in the Banking industry. Before knowing the development of Banking system in Bangladesh, we need to know the history of overall Banking system that we inherited in the development of economic system. When did bank appear? Linguistics (the science of language) and etymology (the study of the origin words) suggest an interesting story about banking origins. Both the old French word Banque and the Italian word Banca were used centuries ago to mean the “Bench” or “Money changer Table”. This describe quite well what historians have observed concerning the first Banker, who lived more than 2000 years ago. There were money changer, situated usually at a table or in small shop in commercial district, aiding travelers who came to town by exchanging foreign coins for local money or discounting commercial notes for a fee in order to supply merchant with working capital. The first Bankers probably used their capital to fund their activities, but it wasn’t long before idea of attracting deposits and securing temporary loans wealthy customers become a important sources of banking funding. Loans were than made to merchants, shippers and land owners at a interest rate as law as 6 percent per annum as high as 48percent a month for the riskiest ventures. Most of the early Bank of any size were Greek in origin. The Banking industry gradually spread outward from the classical civilizations of Greece and Rome into northern and western Europe. Banking encountered religious opposition during the Middle Ages, primarily because Loans made to poor often carried very high interest rates. However as the Middle ages drew to a close and the Renaissance began in Europe, the bulk of Bank Loans and deposits involved relatively wealthy customers, which helped to reduce religious oppositions to Banking Practices. 6 The development of new overland trade routes and improvements in navigation in the 15 th. 16th and 17th centuries gradually shifted the center of world commerce from the Mediterranean region towards Europe and British Isles, where banking became a lending industry. During this period were planted the seeds of the industrial Revolution, which demanded a well developed financial Systems. In particular the adoption of mass production methods required a corresponding expansion in global trade to absorb industrial output, requiring new method for making payments and credits available. Banks that could Delivers on these needs grew rapidly, led by such institutions as the Medici Bank in Italy and the Hochstetler Bank in Germany. When Colonies were transferred in North and South America, Old World banking practices were transferred to New World. At first the colonist dealt primarily with established banks in the countries from which they had come. As the 19th centuries began, however, state governments in the united state began chartering banking companies. Many of these were simply extensions of other commercial enterprise in which banking service were largely secondary to sale- for example, the farm equipment business. The development of large professionally managed banking firms was entered in a few leading commercial centers, especially New York. The federal government became major forces in US banking during the Civil War. The Office of the Comptroller pf the Currency (OCC) was established in 1864. Created by Congress to charter national Banks. This divided Bank regulatory System, with both the federal governments and the states playing key roles in the control and supervision of banking activity, has persisted in the United States to the present day. All the researchers and experts agreed that the present banking system comes from the activities of the following classes; 1. Gold Smith 2. Businessman 3. Money Lenders. As we were the colony of British our Banking history was started from the British Rules. in 1806 the East India Company was introduced different king of coins as medium of exchange. in 1700, in our sub continent, “ The Hidustan Bank” was established which was the first modern bank in this area. in 1784 the Bengal Bank was established. In 1873 there were two branches of The Bengal Bank were opened in Chittagong & Sirajganj Respectively. 7 After partition of India and Pakistan regime the entire sub continent was divided into two countries named India & Pakistan in 1947. In 1948 the state bank of Pakistan was established as a central bank of Pakistan in 1949 a strong commercial bank form named National Bank of Pakistan in 1971 there were 36 schedule bank were operate in our country. Most of the Head Quarter of those banks was situated in West Pakistan except Eastern Banking Corporation (Presently Known as Uttar Bank Ltd) and eastern Mercantile Bank Ltd (Presently Known as Pubali Bank Ltd.) After liberation we were inherited the total banking industry that was leave by the Pakistani. In 1971 there were 1090 branches of 12 banks were operating in our Bangladesh. Only 2(Two) banks owners were Bangladeshi named Eastern Mercantile Bank Ltd & Eastern Banking Corporation. In march 26, 1972, all the banks were nationalized by a president Nationalization order except foreign Banks. By this nationalization order 6(Six) nationalized bank were established. Following are picture of the Banking industry after liberation. Sl No New Bank Original Bank 01 Sonali Bank 1. The National Bank of Pakistan 2. The Bank of Bhawalpur 3. The Premier Bank 02 Agrani Bank 1. The Habib Bank Ltd 2. The Commerce Bank Ltd. 03 Janata Bank 1. The United Bank Ltd. 2. The Union Bank Ltd 04 Rupali Bank Ltd 1. The Muslim Commercial Bank Ltd 2. The Standard Bank Ltd 3. The Australasia Bank Ltd 05 Pubali Bank The Eastern Mercantile Bank Ltd 06 Uttar Bank The

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