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Al Arafah Islami Bank Ltd. is able to provide innovative service to the customers of a
developing country such as deposit products and services, commercial banking
activities, foreign exchange and foreign trade. Based on the knowledge of practical field
I prepared my internship report entitled of “General banking activities of Al Arafah
Islami Bank Ltd.”


The internship program is a mandatory requirement for the students who wish to be a
B.B.A graduate. In the internship program, I was attached to host organization name Al
Arafah Islami Bank Ltd. this report prepared on my practical experience on the day to
day banking activities, theoretical experience and under close supervision of my
internal support as well as my official supervisor.


 Broad objectives: Broad objectives of this report are to meet the partial
requirement for the fulfillment of B.B.A program.
 Specific objective: In specific objective I have to prepare a sound report that
must be reliable and dependable for the bank officials.
The specific objectives to help in exchanging the broad objectives are as follows:
 To raise the ability to cope with new organization environment.
 To analyze the performance of the specific branch and the bank as a whole
 Highlighting the process of banks to deal with overall banking
 To analyze total procedure of Al Arafah Islami Bank Ltd. in general banking
 Identifying the major contribution of overall business in Bangladesh
 To suggest remedial measure for the development of Al Arafah Islami Bank
 To relate theoretical knowledge with practical field
 To improve quality of evaluation
 To create the ability to recommend to the branch and its bank based on the
gathered knowledge
 To improve the quality of communication
 To know about the different scheme, policy, procedures of AIBL

From my educational background I have learned different methodology in research
process. So in this study I had the opportunity to implicate may educational knowledge
in practical field. I have collected data from many sources:

Sources of

Primary Secondary
sources sources
Figure: Sources of data collection
1.4.1 Primary sources:

 Personal interview- face to face conversation and in depth interview with the
respective officers of the branch
 Personal observation- observing the procedures of banking activities
followed by each department
 Practical work exposure on different areas of the branch
 Informal conversation with the client or customers
 Relevant documents related to the study as provided by the officers
1.4.2 Secondary sources:

 Annual report of AIBL

 Periodical published by Bangladesh bank
 Internet is also used as a theoretical sources of information
 Website and newsletters are also used as major sources


In this internship period and preparing of the report, there is lot of learning points are
available, such as organizational structure of Al Araafah Islami Bank Ltd. and its branch,
organizational environment and culture, its deposit products and services, commercial
banking activities and foreign exchange and General Banking .

To prepare a report on the achieved practical experience in a short duration (only three
months) is not an easy task. In preparing this report some problems and limitations
have encountered which are as follows:
 The main constraint of the study are insufficiently of current information,
relevant to the study
 Consolidated date related to the study are not available in the mind of the year
 All required information are not available in any specific branch of the bank and
there are also limited opportunity to visit more than one branch
 Due to time limitations many of the aspects could not be discussed in the present
 Confidential information
 Lack of experience in internship report writing


The Jews in Jerusalem introduced a kind of banking in the form of money lending before
the birth of Christ. The word ‘Bank’ was probably derived from the word ‘bench’ as
during ancient time Jews used to do money -lending business sitting on long benches.
First modern banking was introduced in 1668 in Stockholm as ‘Savings Pis Bank’ which
opened up a new era of banking activities throughout the European Mainland.
In the South Asian region, early banking system was introduced by the Afghan traders
popularly known as Kabuliwallas. Muslim businessmen from Kabul, Afghanistan came
to India and started money lending business in exchange of interest sometime in 1312
A.D. They were known as ‘Kabuliwallas

Banks have influenced economies and politics for centuries. Historically, the primary
purpose of a bank was to provide loans to trading companies. Banks provided funds to
allow businesses to purchase inventory, and collected those funds back with interest
when the goods were sold. For centuries, the banking industry only dealt with
businesses, not consumers. Banking services have expanded to include services directed
at individuals, and risk in these much smaller transactions is pooled.

The name bank derives from the Italian word banco “desk/bench”, used during the
Renaissance by Florentines bankers, who used to make their transactions above a desk
covered by a green tablecloth. However, there are traces of banking activity even in
ancient times. In fact, the word traces its origins back to the Ancient Roman Empire,
where moneylenders would set up their stalls in the middle of enclosed courtyards
called macella on a long bench called a bancu, from which the words banco and bank are
derived. As a moneychanger, the merchant at the bancu did not so much invest money
as merely convert the foreign currency into the only legal tender in Rome—that of the
Imperial Mint.


A banker is responsible for establishing and maintaining positive customer
relationships, planning and delivering effective sales strategies and monitoring the
progress of new and existing financial products. Bankers may work as managers
in high street branches providing operational support on a day-to day basis, or in

more specialized posts in corporate or commercial departments at area, regional or
head offices.
Banking is the process through which an institution, most often owned by the
government, Provides financial services. They include collecting deposits, landing
money and issuing debit and credit cards. Banking is the process of performing the
activities of a Bank.


Banking is the backbone of the national economy. All sorts of economic & financial
activities revolve round the axis of the bank. As the industry produces goods &
commodities, so does the banks create & control the money market & promotes the
formation of the capital. From the point of view banking a technical profession can be
termed as industry. Services to its customers are the products of the banking industry
besides being a pivotal factor in promoting capital formation in the country. As all
economic & fiscal activities revolve round this important industry, the role of banking
can hardly be over emphasized.

Circumstances being such, it becomes imperative to find out the role of banks now
playing in the country & analyze its operational aspects so as to ascertain the
importance of this fragile financial sector & its overall impact on the national economy.
To do this a thorough study as to its distribution, expansion & contribution is essential
to comprehend its past, present & future bearings for the growth & development of the
banking sector of the country.

In global context, the role of banks is far reaching & more penetrating in the economic &
fiscal discipline, trade, commerce, industry, export & import et5c all are carried through
the banks. Banks are the only media through which the international trade & commerce
are being carried out .Moreover the entire credit transaction, both national &
international is done through the banks.


The banking system at independence consisted of two branch offices of the former State
Bank of Pakistan and seventeen large commercial banks, two of which were controlled
by Bangladeshi interests and three by foreigners, other than West Pakistan. There were
fourteen smaller commercial banks. Virtually all banking services were concentrated in
urban areas. The newly independent government immediately designated the Dhaka
Branch of the State Bank of Pakistan as the Central Bank and renamed it the Bangladesh
Bank. The bank was responsible for regarding currency, controlling credit and
monetary policy, and administering exchange control and the official foreign exchange
reserves. The Bangladesh Government initially nationalized the entire domestic banking
system and proceeded to reorganize and renamed the various banks. Foreign owned
banks were permitted to continue doing business in Bangladesh.
 Banking System in Bangladesh:

At the moment financial sector reform programs are underway. Private banks and
insurance companies with few exceptions are functioning creditably. Bangladesh
pursues a liberal market economy. Bangladesh Bank is the apex bank of the country
responsible for promoting healthy growth and development of the banking system.
Banks and insurance companies, both in the private and public sectors, are operating
freely and contributing to the economy. Foreign banks like HSBC, SCB, City Bank etc.
function in Bangladesh through their branches.
 Wider commercial role:
 The commercial role of banks is not limited to banking and includes;
 Issue of banknotes (promissory notes issued by a banker and payable to bearer
on demand.)
 Processing of payments by way of telegraphic transfer, EFTPOS, internet banking
or other means.
 Issuing bank drafts and bank cheques
 Accepting money on term deposit
 Lending money by way of overdraft, installment, loan or otherwise.
 Safekeeping of documents and other items in safe deposit boxes.
 Currency exchange

 Economic Function:

The economic function of banks includes:

 Issue of money
 Netting and settlement of payments
 Credit intermediation
 Credit quality improvement
 Maturity transformation
Bangladesh Bank is a typical central bank of a third world country with a medley of
tasks on its agenda. These agenda include not merely issuing notes and controlling
supply of money but also the responsibility to act as the holder of gold and currency
reserves, banker to the government, lender of the last report, supervisor of the banking
system, overseer of national credit policy, promoter of credits to agricultural and other
important socio-economic sector and administrator of exchange control.
 Bangladesh Bank:

Bangladesh Bank (BB) has been working as the central bank since the country’s
independence. Its prime jobs include issuing of currency, maintaining foreign exchange
reserve and providing transaction facilities of all public monetary matters. BB is also
responsible for planning the government’s monetary policy and implementing it
 Banking Legislations of Bangladesh:

The Banking Companies act, 1991, has been the most important piece of legislation
enacted in Bangladesh to define all aspects of operation of banking institutions and
regulation of their activities by regulatory authorities. This important landmark was
preceded by a medley of laws passed by the parliament and presidential Ordinances and
Orders enacted or promulgate during the British and later Pakistan eras.
 Bangladesh Bank Order, 1972:

In addition to the Banking Companies Act, 1991, Bangladesh Bank Order, 1972 also
contains a few provisions about regulating some aspects of banking operation.

With years, banks are also adding services to their customers. The Bangladesh banking
industry is passing through a phase of customers market. The customers have more
choices in choosing their banks. A competition has been established within the banks
operating in Bangladesh. With stiff competition and advancement of technology, the
services provided by banks have become more easy and convenient. The past days are
witness to an hour wait before withdrawing cash from accounts or a cheque from north
of the country being cleared in one month in the south.
This section of banking deals with the latest discovery in the banking instruments along
with the polished version of their old systems.


The most common and first service of the banking sector. There are different types of
bank account in Bangladesh banking sector. The bank accounts are as follows:

 Bank Savings Account - Bank Savings Account can be opened for eligible person /
persons and certain organizations / agencies (as advised by Bangladesh Bank
from time to time)
 Bank Current Account - Bank Current Account can be opened by individuals /
partnership firms / Private and Public Limited Companies / Specified Associates
/ Societies / Trusts, etc.
 Bank Term Deposits Account - Bank Term Deposits Account can be opened by
individuals / partnership firms / Private and Public Limited Companies /
Specified Associates / Societies / Trusts, etc.
 Bank Account Online - With the advancement of technology, the major banks in
the public and private sector has facilitated their customer to open bank account
online. Bank account online is registered through a PC with an internet
connection. The advent of bank account online has saved both the cost of
operation for banks as well as the time taken in opening an account.


Former ANZ Grind lays Bank, now Standard Chartered Grindlays Bank, took a
pioneering role in introducing credit card in Bangladesh. It started acquiring Visa and
MasterCard nearly 10 years back. In the first few years, its operational area was very
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limited and concentrated only on the large hotels and restaurants. In 1997 the bank
decided to launch full-scale card operation and very realistically brought a wide range
of people under its service system. It is now giving a wide range of card services
through multifarious quality facilities.
Credit cards are financial instruments, which can be used more than once to borrow
money or buy products and services on credit. Basically banks, retail stores and other
businesses issue these.


A healthy banking system is essential for any economy striving to achieve good growth
and yet remain stable in an increasingly global business environment. The Bangladeshi
banking system has witnessed a series of reforms in the past, like deregulation of
interest rates, dilution of government stake , and increased participation of private
sector banks. It has also undergone rapid changes, reflecting a number of underlying
developments. This trend has created new competitive threats as well as new
opportunities. This paper aims to foresee major future banking trends, based on these
past and current movements in the market.
Given the competitive market, banking will (and to a great extent already has) become a
process of choice and convenience. The future of banking would be in terms of
integration. This is already becoming a reality with new-age banks such as Banking,
Mobail Banking etc. Technology will prove to be the differentiator in the short-term but
the dynamic environment will soon lead to its saturation and what will ultimately be the
key to success will be a better relationship management.


The future of banking will undoubtedly rest on risk management dynamics. Only those
banks that have efficient risk management system will survive in the market in the long
run. The effective management of credit risk is a critical component of comprehensive
risk management essential for long-term success of a banking institution.
Although capital serves the purpose of meeting unexpected losses, capital is not a
substitute for inadequate decontrol or risk management systems. Coming years will
witness banks striving to create sound internal control or risk management processes.
With the focus on regulation and risk management in the Basel II framework gaining
prominence, the post-Basel II era will belong to the banks that manage their risks

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effectively. The banks with proper risk management systems would not only gain
competitive advantage by way of lower regulatory capital charge, but would also add
value to the shareholders and other stakeholders by properly pricing their services,
adequate provisioning and maintaining a robust financial structure.
‘The future belongs to bigger banks alone, as well as to those which have minimized their
risks considerably.’


Function of
Commercial Banks
of Bangladesh

Receiving Advancing
Deposit Loans

Current Saving Fixed Marketing Bank Cash

Account Account Deposit Loans Overdraft Credit

Long Term



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The bank stared its operation on June 18, 1995 as a commercial bank in the name and
style of Al Arafah Islami Bank Limited. The prime objective of Al Arafah Islami Bank
Limited is to serve the people for attainment of their economic goal and success in life
here and here after. AIBL faced a several setbacks in respect of business. With active
initiative taken by the number of the board and the management team, the company
could overcome the problem and get it converted into a fully fledged commercial.

Problem on 2001 after obtaining license from Bangladesh Bank as Al Arafah Islami Bank
Ltd. the authorized capital of the bank was fixed at Tk. 100 million and paid up capital at
Tk. 100.12 million of which 20.50 million was subscribed by the sponsors at that time.
At present the bank is operating through 94 branches of the country.


Full name Al Arafah Islami Bank Limited
Nick Name AIBL
History/Overview With a vision to emerge as the leading bank Islami
Bangladesh. Al Arafah Islami Bank was founded by a
number of religious personalities from trade and
industry. To a significant contribution to the national
economy for sustainable growth is another bank
program. AIBL offers all its services and products in
accordance with Islamic law (sharia). A powerful sharia
council is composed of recognized Islamic scholars and
economists of the country and the board carefully
examines every service and products offering to the
Type Private Limited Company
Bank Type Private Commercial Banks of Bangladesh
Industry Industry
Headquarters 36, Dilkusha (6-9 floor) C/A Dhaka-1000, Bangladesh
Established/Founded 1995
ATM Network Available

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Foreign Exchange Available
Branches in AIBL has branches all over the country Bangladesh
Contact Phone: +880-2-7123255-7, 9568007, 9569353
Fax: +880-2-9566160-69 9566074-75
Email: aibl@al-arafahbank.com
Official website http://www.al-arafahbank.com/



 To be a pioneer in Islami Banking in Bangladesh and contribute significantly to
the growth of the national economy
 To improve banker customer relationship through improving customer service
 To develop new and innovative product or services through integration of
technology, policy and principle


 Achieving the satisfaction of Almighty Allah both here & hereafter
 Proliferation of Shariah Based Banking Practices
 Quality financial services adopting the latest technology
 Fast and efficient customer service
 Maintaining high standard of business ethics
 Balanced growth
 Steady & competitive return on shareholders' equity
 Innovative banking at a competitive price.
 Attract and retain quality human resources
 Extending competitive compensation packages to the employees
 Firm commitment to the growth of national economy.
 Involving more in Micro and SME financing.

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To have sustained growth, broaden and improve range of products and services in all
areas of banking activities with the aim to add increased value to shareholders’
investment and offer highest possible benefits to our customers.
 AIBL HAS a customer focused modern Islamic Banking sound and steady growth
in both mobilizing deposit and making quality Investment to keep their position
as a leading Islami bank in Bangladesh.
 To deliver financial services with the touch of heart to retail, small and medium
scale enterprises, as well as corporate clients through AIBL branches across the
 AIBL business initiatives are designed to match the changing trade & industrial
needs of the clients.


 For customers:
To become most caring Bank- by providing the most courteous and efficient service in
every area of business
 For employees:
By promoting the well- being of the members of the staff
 For our shareholders:
By ensuring fair return on their investment through generating stable profit
 For our community
By assuming role as a social responsible corporate entity in a tangible manner through
close adherence to national policies


As an Islami bank, we are singular in every positive aspect. We provide a bunch of state-
of-art banking services within the wide bracket of shariah. We are unique with our
products, strict with our principle and uncompromising with our honesty. Some of our
special features that make us notable in Islami banking sector are as follows:
 All activities of AIBL are conducted under an profit/loss based system according
to Islamic Shariah to get the nation rid of Usury.

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 Its investment policies under different modes are fully Shariah compliant and
well monitored by the board of Shariah Council.
 During the year 2007, 70% of the investment income has been distributed
among the Mudaraba depositors.

 In 2008, AIBL has included online banking in its wide range of services.
Bangladeshi software has been introduced in this feature to promote the local
 AIBL regularly arranges its AGMs (Annual General Meeting). Whenever needed
EGMs (Extraordinary General Meeting) are also arranged.
 We regularly pay dividend to our valued shareholders. For the year of 2010, we
declared 26% bonus dividend to our shareholders.
 We believe in providing dedicated services to the clients imbued with Islamic
spirit of brotherhood, peace and fraternity.
 The bank is committed towards establishing a welfare-oriented banking system
to meet the needs of low income and underprivileged class of people.
 The Bank upholds the Islamic values of establishment of a justified economic
system through social emancipation and equitable distribution of wealth.
 Following the Islamic traditions, it is assisting in the economic progress of the
socially deprived people; in the creation of employment opportunities and in
promotion of rural areas to ensure a balance development of the country.
 The Bank believes in social and philanthropic activities and has established AIBL
English Medium Madrasha and AIBL Library. More endeavors will inshallah
follow in future.
 To establish an interest free economy
 To establish an modern banking system for all kinds of people
 To take part in the economic growth of the country
 To eradicate the poverty and to do social services by establishing schools,
madrashas, university, hospital, public library etc.
 Finally to achieve ultimate goal i.e., Nazat in Akhirat

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 Export and Import Function
 Retail Banking
 Industrial financing trade financing
 Syndicated Loan
 Project financing
 Hire purchase
 Lease financing
 Online service
 Automated Accounting
 Integrated System
 Signature Verification
 Any Branch Banking
 ATM Services
 Other Delivery Channel Services


3.11.1 Shariah Board
Scholars of high repute with extensive experience in law, economics and banking
systems and specializing in law and finance as prescribed by Islamic Shariah make up
the AIBL's Fatwa & Shariah Supervision Board. The Board is appointed by the bank's
Board of Directors. The Shariah Board supervises the development and creation of
innovative Shariah -compliant investment and financing products and services. The
Board is empowered to issue fatwas on any matter proposed to it by different business
units of the bank. The Shariah auditors ensure that all the transactions are carried out in
strict compliance to Islamic principles of banking. This framework along with a
stringent compliance to rules has made AIBL the pioneering organization to practice
Islamic finance in true letter and spirit. The name AIBL has come to signify innovation,
financial dynamism, leadership and above all a complete assurance that all the
transactions are free from riba (interest).

3.11.2 The Board’s Role

The Fatwa & Shariah Supervision Board oversees the application of different aspects of
Shariah in the Bank. It also ensures that all transactions are in strict compliance with
the right of contradicting (fatwa) any violating procedures, if found. The Board of
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Directors is obligated to obey the fatwas, irrespective of whether a unanimous or a
majority consensus secured the decision (clause of the Bank’s Memorandum & Articles
of Association).
Board meetings are held periodically or whenever the need arises. The rights of the
Board are enshrined in Article Seven o the Bank's Memorandum & Articles of
Association (Clauses).
3.11.3 Important Duties of the Shariah Board
 As an expert source on Islamic Principles ( Including Fatwas), the Board through
a representative, usually the General Secretary of the Board, supervises the
Shariah compliance of all the transactions in the Bank.
 To devote time and effort to devising more Shariah -compliant transactional
procedures, templates and banking products that enable the Bank to adapt to
market trends while maintaining a high competitive edge in deposit procedures,
investments, and banking services. At the same time, the Board gives its opinion
on proposed new templates, and banking transactions.
 Analyzing unprecedented situations that are not covered by fatwa, in the Bank's
transactional procedures or those reported by different departments, branches
and even the customers. This is to ensure Shariah compliance before the Bank
develops any new products or implements any new procedure.
 Analysing contracts and agreements concerning the Bank's transactions, as
submitted by the Chairman of the Board of Directors or any department/branch
within the bank or requested by the Board itself so that Shariah compliance can
be evaluated and maintained.
 Ensuring Shariah compliance in the implementation of all banking transactions
and correcting any breaches.
 Analyzing administrative decisions, issues and matters that require the Board's
 Supervising Shariah training programmes for the Bank's staff.
 Preparing an annual report in the Bank's balance sheet with respect to its
Shariah compliance.
The Fatwa & Shariah Supervision Board submits a complete annual report for the Board
of Director, summarizing all the issues referred to the Board, as well as its opinion on
the Bank's transactional procedures.

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3.11.4 AIBL’S Library
The AIBL's library houses a vast collection of more than 4,000 books on Islamic Fiqh,
law, economy, banking and Shariah. The library was primarily established with the aim
of serving the Fatwa & Shariah Supervision Board's research team and the AIBL staff.
The facility is also accessible to the bank’s customers, researchers and students of
higher education
3.11.5 Shariah Supervisors
The Clause of the Bank's Memorandum & Articles of Association requires the Board of
Directors to appoint a Shariah Supervisor, responsible for monitoring all the Bank's
transactional procedures and assuring Shariah compliance.
Also the General Secretary of the Fatwa & Shariah Supervision Board, the Shariah
Supervisor handles queries about the Bank's administration from staff members,
shareholders, depositors and customers, liaises with the Shariah auditors and provides
them with guidance. He submits reports and suggestions to the Fatwa & Shariah
Supervision Board and to the Chairman of the Board of Directors. The position also calls
for participation in the Bank's training programs.
3.11.6 Shariah Auditing
 The supervisory function forms a part of the Shariah Supervision procedures, its
main task being to check Shariah compliance under the guidance of the Shariah
 The auditors continuously review the Bank's transactional procedures to ensure
adherence to the framework created by the Fatwa & Shariah Supervision Board.
The Shariah auditors submit periodic reports to the Shariah Supervisor so as to
monitor and maintain Shariah compliance.


Divisions Number Divisions Number
Dhaka 49 Khulna 07
Rangpur 04 Barisal 04
Chittagong 22 Sylhet 07
Rajshahi 05 ## ##
Total = 98

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Management team is the most important part of an organization. Figure shows the
management team of AIBL.

Managing Director

Deputy Managing Director

Senior Executive Vice President

Executive Vice President

Senior Vice President

Vice President

Assistant Vice President

Figure: Management Team of AIBL

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(In million TK.)
Particulars 2011 2012 2013 2014 2015
Authorized Capital 2500.00 2500.00 2500.00 5000.00 10000.00
Paid up Capital 1153.18 1383.81 1798.53 4677.28 5,893.37
Reserve Fund 653.00 905.33 1,223.18 1,779.08 2,437.43
Shareholders Equity 2037.50 2705.74 3564.73 9,790.36 11,989.11
Deposit 23009.13 29690.12 38355.50 53,882.96 82,186.98
Investment 22906.37 27,742.57 36,134.08 53582.96 77,714.95
Import 27042.72 32685.13 34074.80 55934.10 76,112.10
Export 12714.91 20176.64 23546.10 32042.40 52,202.10
Total Income 2172.48 2955.61 4387.26 5305.64 7522.25
Total Expenditure 1202.71 2199.43 2859.16 3575.81 4462.30
Profit before Tax 582.84 1,258.89 1,589.24 2,852.47 3,946.62
Profit after Tax 347.31 668.24 858.99 1,959.04 2,198.75
Income Tax 385.45 235.53 590.66 730.25 873.01
Total Assets 30182.32 37,177.22 48515.79 74,005.01 106,768.18
Fixed Assets 334.48 396.76 466.30 655.39 968.13
Earnings per share
2.51 3.72 2.00 4.14 3.73
Profit Earning Ratio 4.89 9.53 13.24
Dividend per share 20% 30% 30% 26% 21%
0ther information
No. of Shareholders 4487 12013 10664 25621 54267
Number of Employees 1033 1080 1296 1711 1807

Number of Branches 46 50 60 78 88

Manpower per Branch 23 25 28 30 33

Figure: Financial Performance summary

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General banking division usually performs a lot of important banking activities. General
banking division is the division, which is mostly exposed to the maximum number of
bank customers. It is the introductory department of the bank to its customers. All
business concerns earn a profit through selling either product or a service.
A bank does not produce any tangible product to sell but does offer a variety of financial
services to its customers. AIBL has all the required sections of general banking and this
section are run by manpower with high quality banking knowledge.
This section is consists of activities of open of account, issue of cheque, payment,
clearing of interbank transaction; inter branch transaction, and closing of account. Open
of account is one kind of technique of collection of deposits from customers.
"Deposits are Debts"- The money deposited with the banker is not held by him in trust
but as his debts to the depositors and the relationship that exists between the banker
and the depositor is strictly that of debtor and creditor. The deposits are accepted by
the banker through current and saving accounts withdrawable by cheques. Deposits are
also accepted against deposit a receipt, which is deposited against term deposit
accounts. Those are primary source of fund of a bank.

Saving Accounts Current Accounts Term Deposits


Figure: Primary Sources of Bank Account

Negotiable Instrument Act, 1881 provides-

The deposits accepted by the banker are repayable on demand or otherwise and
withdraw able by cheque, draft, and order or otherwise. The total deposits held by the
banker are broadly classified as demand deposits and time deposits, the former being
payable on demand and the latter as per terms of the deposits.

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"Customer"- The Negotiable Instrument Act has not defined a 'customer' but from
section 131 of NIA and different court decisions as quoted in books of banking, it
appears that only those constituents of the banker are customers who have some sort of
an account with him duly introduced for the purpose, with the deposits put therein
being withdraw able by cheques.
Since bank is confined to provide the services every day, general bank is also known as
.retail banking.
General Banking
01 Cash section
02 Accounts opening section
03 Cheque clearing section
04 Remittance section


Cash department is the most vital and sensitive organ of the branch as it deals with all
kinds of cash transactions. This department starts the day with cash in vault. Each day
some cash that is opening cash Al-Arafah Islami Bank are transferred to the cash officers
from the cash vault. Net figure of this cash receipts and payments are added to the
opening cash Al-Arafah Islami Bank. The figure is called closing Al-Arafah Islami Bank.
This closing Al-Arafah Islami Bank is then added to the vault. And this is the final cash
Al-Arafah Islami Bank figure for the bank at the end of any particular day.
4.2.1 Functions of cash department
Cash Payment  Cash payment is made only against cheque.
 This is the unique function of the banking system
which is known as payment on demand.
 It makes payment only against its printed valid Cheque
Cash Receipt  It receives deposits from the depositors in form of
cash. So it is the .mobilization unit. of the banking
 It collects money only its receipts forms

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4.2.2 Cash payment or Cheque cancellation process:
Step-1  Receiving Cheque by the employee in the cash counter
Step-2  Verification of the followings by the cash Officer in the
computer section
 Date of the Cheque (it is presented within 6 month
from issue date)
 Issued from this branch
 Amounts in figure and sentence written does not differ
 Signature of the drawer does not differ
 Cheque is not torn or damage
Step-3  Gives pay cash seal and sends to the payment counter
Step-4  Payment officer makes payment

4.2.3 Books maintained by this section:

Vault Register  It keeps account of cash Al-Arafah Islami Bank in vault
in the bank.
Cash Receipt Register  Cash receipt in whole of the day is recorded here
Cash Payment Register  Cash payments are made in a day are entered here
Rough Vault .Register  Cash calculation for final entry in vault register is
done here, as any error and correction here is not
Cash Al-Arafah Islami  Al-Arafah Islami Bankance here is compared with
Bankance Book
vault register. If no difference is found, indicates no


This section welcomes the customers and clients with smiling face. The staff and officer
of this section:
 Opens the new accounts (all types)
 Maintains subsidiary day books
 Gives various types of information to the customers.

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This section opens different types of account for their valued customers. Selection of
customer is very important for the bank because bank’s success and failure largely
depends on their customers. If customers are bad they creates fraud and forgery by
their account with bank and, this destroys the good will of the banks. So, this section
takes extreme caution in selecting its valued customer.
Function of this department:

 Account Opening
 Sending Thanks letter
 Cheque Book issue.
 Account Closing
 Create Pay Order, TT and DD. (Work of Remittance Department)
 Cheque Collection for Clearing, I.B.C and O.B.C.

4.3.1 Who can open Account:

 Minor (Minor can open the account in the name of the minor's guardian or
jointly with the guardian)
 Discharged bankrupt
 Proprietorship firm
 Partnership firm
 Limited company
 Non-trading concerns
 Co-operative society
 Corporation and public body
This pie chart shows the age level of the customers. It’s about different ages of the
people. It shows clearly that, 28-32 years age people usually come to their Amberkhana
khan branch at a big numbers. More than 38 years and the range of 23-27 years people
usually come to their bank as well and it’s about 25%.

4.3.2 Who can't open Account:

 Minor (Minor is not allowed individually open account)
 Drunker
 Undercharged bankrupt
 Insane
 Lunatic

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4.3.4 Accounts opening process:
Step-1  Receiving filled up application in bank’s prescribed form
mentioning what type of account is desired to be opened
Step-2  The form is filled up by the applicant himself / herself

 Two copies of passport size photographs from individual are

taken, in case of firms photographs of all partners are taken

 Applicants must submit required documents

 Application must sign specimen signature sheet and give


 Introducer’s signature and accounts number verified by legal


Step-3  Authorized Officer accepts the application

Step-4  Minimum Al-Arafah Islami Bankance is deposited only cash is
Step-5  Account is opened and a Cheque book and pay-in-slip book is

4.3.5 Required documents:

Individual or sole proprietorship firm:
 Photograph of the signatories 2 copies.
 Photograph of the nominee 1 copy each (attested by account holder).
 Photocopy of passport (first 5 pages).
 Photocopy of national ID.
 Copy of valid trade license.
 Income Tax Certificate
 Transaction Profile
 Rubber stamp of the firm. (if it is a sole proprietor firm)
Partnership business:
 Photograph of the signatories 2 copies.
 Photocopy of passport (first 5 pages).

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 Copy of the valid trade license.
 Transaction Profile
 Rubber stamp of the firm.
 Copy of Partnership Deed.
 Income Tax Certificate

Limited company:
 Certified true copy of the memorandum and article of association of the
 Certificate of incorporation of the company of inspection and return (along
with a duly certified photocopy for bank’s records).
 Certificate from the register of joint stock company that the company is
entitled to commencement business (in case of public Ltd .co.).
 Extract of the resolution of the board/general meeting of the company for
opening the account and authorization for its operation duly certified by the
Chairman/Managing Director of the company.
 List of Director/Authorized officer along with designation and specimen
signature who will operate the account.
 Photograph of the signatories and all Directors.
 Photocopy of passport (first 5 pages).
 Photocopy of national ID.
 Copy of the valid trade license.
 Director’s particulars.
 Transaction Profile
 Income Tax Certificate.
4.3.6 Special Caution or the documents from the Account opener of the following
Partnership Firm  Partnership deed must be taken
 Mandate from the partners is essential,
 Indicating who will operate the account
Public Limited  Certificate of Incorporation
 Copy of Memorandum and Articles of Association
 Certificate of Commencement

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 Copy of Resolution of the Board of Directors
Private Limited  Certificate of Commencement is not necessary
 Certificate of Incorporation
 Copy of Memorandum and Articles of Association
 Copy of Resolution of the Board of Directors

4.3.7 Thanks Letter:

After initial deposits the banker doesn't issue cheque at the same time. Bank sends
Thanks Letter to thanking the account openers to open accounts in its branch. This
letter treats customers as honorable persons as well as it create good faith and
relationship with, the bank. But most important thing of this letter that it is one kind of
technique to verify the validity of the customers given information. Because, when the
registered letter is returned because of wrong information about their name or
addresses, it cannot be explained that there is a possibility of fraudulent. And then
banker must have to stop the accounts and issue of the cheques.
4.3.8 Cheque Book Issue:
Bank provides a cheque book one day after requisition. The name of account holder,
account number and cheque number are printed on the book and leaves. Bank usually
issue cheque book containing 20 leaves for savings account, 50 leaves for current
account. A charge for cheque book is Tk.3.00 per leaf. So, Tk.60.00 charged for 20 leaves
cheque book and Tk.150.00 for 50 leaves cheque book.
4.3.9 Cheque:
A cheque is an unconditional order of the drawer in writing bearing a date, to the
banker maintaining his account to pay on demand, to a named person, his order or
bearer, a certain specified sum of money, expressed in both figures and words.
Parties to Cheque
There are three parties are available to a cheque. They are Drawer, Drawee, and Payee.
 Drawer: Drawer is the person who draws the cheque i.e. the depositor of

money in the bank.

 Drawee: Drawee is the drawer's banker on whom the cheque has been


 Payee: Payee is the person who is entitled to receive the payment of a cheque.

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When a cheque is drawn 'pay to self or 'pay cash' the payee is the drawer, his
endorsee or bearer, as the case may be depending on the form in which it is drawn
namely, order or bearer. A cheque is Payable forthwith on production and no
presentment thereof is required as in the case of a bill of exchange or pro note. The
payee or endorsee who is in possession of a cheque or the bearer thereof is the
holder. A holder becomes a holder is due course when he possesses the instrument
for consideration, before it became over-due and without notice that the title of his
transferor was defective.
4.3.10 Conditions of cash/ cheque deposit:
 The pay-in- slip shall not be treated as valid until is duty sealed and signed by
the authorized officers of the bank. Besides, it is only a memorandum of
deposit of item(s) described therein
 The cheque shall be deposited by crossing only
 After deposit of cash, the depositor should make sure that the authorized
officer has signed and stamped the carbon copy/duplicate copy of the deposit
slip. If otherwise, that must immediately be brought to the notice of the head
of the branch
 Deposit slip folio should be exclusively used for bank wise/branch wise
deposit of cheques and cash
 The depositor must put his or her signature on the deposit slip in the space
provided for
 After deposit of cash/cheque the carbon/duplicate copy of the deposit slip
should be retained for future
 In receiving the cheques or any other instrument for deposit including
cheques drawn AIBL or other banks, the bank acts only as the depositor’s
collecting agent and assumes no responsibility for the realization of such
item(s). if payment of the amount of any item is not received by the bank for
any reason whatsoever such amount will be charged back to the depositor’s
account including incidental charges. All items for deposit are accepted by the
bank on the understanding that the depositor assumes full responsibility for
the genuineness, validity and correctness of all signatures and endorsements
appearing thereon

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 The account holder should get computer print out of the account
statement on monthly or quarterly basis and should reconcile the entries
with the carbon copy of the deposit book. Any discrepancy must be
reported immediately to the branch
4.3.11 Bank Account Statement & Certificates
All types of bank statements and certificates such as solvency certificates, income tax
certificates, B.O. certificates etc. are issued by the bank on favor of the customers. As per
customer’s instruction the bank dispatch the account statement/advice to his/her/their
address. Moreover, on customer’s request, bank provides statement and certificates
related to the account.

4.3.12 Account Closing

Account closing is also done by account opening section. The customer may close
his/her/their account(s) at any time giving notice to the bank. Similarly, the bank on
genuine ground may close customer(s) account giving reasonable notice for the action
or without any notice if the conduct of the account is not satisfactory to the bank or any
reason(s) whatsoever. In either case, bank will realize a closing charge from the
customer’s account. The usual closing charge is Tk. 300 + 15% VAT. But, the closing
charge of account within three months of opening is Tk.500 + 15% VAT.
To close an account:
 Account holder requires applying in a specific form with full signature.
 He/she/they must surrender the unused leaves/cheque book provided by the
 Verification of signature and approval by operation head.
 Close the account.
On closure of the account, the bank will pay the credit balance (if any) of the account
and any profit due to the customer(s). The customer(s) shall surrender the unused
cheque books/leaves along with the requisition slip and other materials (if any)
supplied by the bank for operation of the account.

4.3.13 Account Transfer:

Account opening section also transfers account to from one branch to another on
customer’s request. The steps are:
 Application for account transfer

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 The customer(s) shall surrender the unused cheque books/leaves along with the
requisition slip and other materials (if any) supplied by the bank for operation of
the account.
 Verification of signature and approval of operation head.
 Inform the respective branch.
 Forward the documents.
 Close the account.


Foreign remittance is to send money of customers from one place to another, from one
person to another outside the national boundary. Though Amberkhana branch, Al-
Arafah Islami Bank Ltd. is a non-ad branch, it can able to serve the customers by
receiving and paying their incoming foreign remittance in the form of local currency.
Foreign remittance is received by the bank via some internationally authorized agents.
There are many medium of agent for foreign remittance at Amberkhana branch, Al-
Arafah Islami Bank Ltd. They are –

Moneygram:- Moneygram is a money transfer medium/agent serves both

domestic & international services. Its identification number consist 8 digits.
Eldorado:- Eldorado is another money transfer agent serves only international
services. Its identification number consist 7 digits.
The agents are identified by a serial number which has been supplied by the sender to
receiver of customer. After digit identification the dealing also verifies the receiver’s
name with documents of sender and e-mail of the agent. Verifying that, send an e-mail
to the agent and transfer the amount to the cash department for payment. Any one of
the documents required to identify the receiver are as follows:
 National ID card

 Voter ID card

 Salary Statement

 Statement of tuition fees

 Academic/ organization’s ID card

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Another medium of agent for foreign remittance are – Money Transfer, RIA, Kushiara,
ANE etc
Modes of Remittance
Various modes have been evolved by the banks for remittance of funds from one place
to another. Generally the banks in three ways affect such remittance, namely:
 Demand Draft (DD)

 Mail Transfer (MT)

 Telegraphic Transfer (TT)

4.4.1 Demand Draft:

A banker's demand draft (DD) is an unconditional order of the banker's one office to
another to pay to the named person or order the amount mentioned therein on demand.
The remitter of funds can purchase a banker's draft making the amount payable to
anyone including himself. If the draft is not crossed, the payee can draw the amount in
cash upon production of the same to the drawer office with satisfactory evidence of
his/her identity or can draw the money by depositing it to his/her account there or any
other banker. The draft being payable to certain particular person or order the banker
must satisfy himself as to the title of the person presenting it for receiving the payment.
The banker is discharged from liability only by payment in due course.

4.4.2 Mail Transfer Advice:

Where the remitter desires the banker to remit the funds to the payee instead of
purchasing a draft himself, the banker does it through a Mail Transfer Advice. The
transfer is so called as the advice is dispatched to the paying office by ordinary mail. The
payee must have an account with the paying office as the amount remitted in such a
manner, is meant for credit to the payee's account and not for cash payment.
4.4.3 Telegraphic Transfer:
Sometimes the remitter of the funds requires the money to be available to the payee
immediately. In that case, the banker is requested by him to remit the funds
telegraphically. Such a remittance is effected by the banker through a coded telegram
attested by secret check signal, on receipt of which the paying office pay the amount to
the payee in cash through a telegraphic payment order or credit his account, as the case
may be.

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It is also in practice with the banker to purchase telegraphic transfers from another
banker of first class standing up to a certain specified limit under prior arrangement
detailing the terms and conditions. This selling of telegraphic transfer is resorted to by
the latter banker when he or she faces shortage of funds locally. The news of purchase
and receipt of reimbursement by the respective office are required to be conveyed to
the concerned receiving and purchasing office telegraphically in view of larger amounts
being generally involved.
But, the “Local Remittance Section” of AIBL performs the following functions:
 Pay order (PO)

 Bills Collection


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- 36 -
Staying the internship period of 3 months in Al Arafah Islami Bank Ltd – Amberkhana
Branch as an Internee was extensively experiencing. I have gone through a lot of new
situations, experienced a very new environment and learned about professional life.


First of all, I was asked to work in different sections of General Banking. Here we dealt
with new customers who wanted to get information about the branch and will to deal
with the branch. This is a very interesting department because here we met people of
different types and deal with them accordingly. In this section, I observed the following

5.2.1 Dispatch Section:

In dispatch section main job is keep record on inward and outward document. If any
document came into bank for various purposes from different organization or bank
head office or another branch but also if any document ,application go outward from
bank these all the record are included in dispatch section (example : foreign exchange
application, document letter of credit, joining application , a/c reopening, A/c closing (
ITD, MTD e.t.c) . In this section particularly I work done very well.

5.2.2 Issuance of Demand Draft (DD) / Pay Order (P.O):

A demand draft is provided to the client in whom he has to specify that on which bank it
is drawn. The amount both in words and figures is written on the demand draft. Pay
order is only payable to payee. In this section I know how to write PO and what is this
5.2.3 Bills Remittance Department:
It is most important and interesting department. This section deals with the transfer of
money from one branch to another branch. Nearly six drafts issued daily from this
department. Here I know the amount transferred and what is the procedure. This
department also deals with T.T. transfer of money.
5.2.4 Foreign Remittance Department:
In this department one person send money in Bangladesh from outside of the national
boundary, customer come to the officer and give a PIN number. If Pin number is right
bank pay the customer those amount. My work of this department is filling up the form
and collects national ID card and other necessary papers.
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5.2.4 Deposit Department:
Deposit department deals with current, saving fixed accounts for a long period. In
current account the bank does not offer any interest you can deposit or withdraw any
amount during banking hours. In Fixed account people normally of old age are more
interested because they get a lump sum amount every month as a markup or interest.
These accounts are normally for one month to seventy two month.
5.2.5 Cash Collection:
In cash counter I used to collect cash from customers that they used to deposits in
Saving Accounts.
5.2.6 Assisting Customers to Open Bank Account:
I used to help customers to fill up the account opening form. Also provided information
regarding the types of papers they need to open a particular account.
5.2.7 Providing Cheque:
Customers who open new bank account have entitled to receive a cheque book after one
week of account opening. I used to collect account number from them, verified it and
issue a new cheque for them.
As a student of business department; I learned many things from my BBA program;
gained a verity of knowledge through the class lectures; text book; assignment;
presentation; viva; exams etc. while conducting my internship in Mercantile Bank
Limited some of this knowledge was very essential for practical professional life.

We studied this course at 2nd semester of our BBA Program. It helped me learn how to
manage works in most efficient and effective manner and maintain the chain of
command within the organization. While doing internship program, I was able to
complete my all tasks efficiently and effectively at the shortest possible time and
maintain the chain of command.

During my internship program I was able to make various debit voucher and credit
voucher by applying the basic concepts learned from Principles of Accounting course
which I studied at 2nd semester.

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Business Communication is a course which we studied at the 4 th semester. During my

internship this course helped to be a good communicator by different types of
communication skills; like: writing, speaking, listening and interpersonal. Following are
the cases in where I needed these skills during Internship program:-

 To communicate with the branch employees,

 To collect information from the customers and clients and
 To write formal letter and application

We have studied both courses at 7th semester and 10th semester respectively. It is a very
informative course for BBA students and its practical use is much more to do an
internship program especially in a bank organization. Firstly these courses give us a
clear idea about bank, banking, banker, customer, clients. By studying this course we
have known about different types of account; like-current account, savings account,
fixed account, different types of cheques; like- bearer cheque, crossed cheque, blank
cheque, antedated cheque etc, parties of cheque, inland remittance and foreign
remittance, reason of dishonoring a cheque. We have got a detailed idea about L.C. from
these courses.

Organizational Behavior is concerned with the behavioral issues and I read it at 7 th

semester of 4 (Four) years BBA Program. It is a course which comprises of all actions,
norms, behavior which an individual needs to follow within organization. This course
made me aware about conduct in the corporate field. During internship I needed the
following things learned from this course:-
Marinating office time properly
Maintaining formal dress
How to manage the customers in a diplomatic manner
How to work in a team as well as an individual etc.

Management Information and control enabled me to research this specific topic, analyze
the problem, think creatively, suggest a solution, and prepare a clear written
- 39 -
presentation of the solution and working individually to make the project. Studying this
course at 8th semester I also got a clear idea about 3 dimensions of information system
that is quite needed to know for working excellently in the bank organization for an

HRM is a course which tells us about the process of managing human resource and this
course was studied at 8th semester. Though this course seems only necessary for higher
level employees like manager to maintain good performance by hiring the right people
in right place and motivating them to achieve organizational goal, it is also necessary for
all employees in case of maintaining ethics and integrity in the workplace.

Business Research Method is a course which is a field of practical study and we studied
it at 9th semester. Studying this course I was able to obtain data and analyse them to
make a critical evaluation and to make the report a complete one. Following are the
things learned from this course by which I have benefited to prepare the report:-
 Different research methods,
 What are the relevant and legal source of data,
 How to collect data and information,
 How to filter the data and information,
 How to use facts and information for study,
 How to place right information in right place,
 To know and explain the purpose of the study and
 To identify the problems.

- 40 -
- 41 -
During my internship period at Al Arafah Islami Bank limited I have observed the
system following by the bank. By observing the system I have identified some problem
of Al Arafah Islami Bank limited. The findings are as follows:
 AL-Arafah Islami Bank has a sound Management System. Efficient
Administration, Accountable Corporate Governance, Experienced Senior
Management, Proficient Relationship between Management and Employee,
Training and Development of the Employees and overall success are the man
potency of the Bank.
 Strong financial performance such as Capital adequacy, Liquidity position, Asset
Quality, are at standard level which gives the bank as top position of Islami
Banking services
 In our country, maximum Islami Bank and Conventional Bank introduced the
product number mid 1990's. It is growing rapidly because; the product has the
potentiality of earning huge profit to the banks. But the product has not
developed in structure and statute.
 AL-Arafah Islami Bank Limited has been offering several types of deposit
schemes (Conventional also) by which people have got some opportunity to save
their small money and bank’s also able to earn more for themselves and for their
 Comparatively AL-Arafah Islami Bank offers maximum number of deposit
schemes. Most of the private sector banks are offering small number of deposit
schemes. By which AL-Arafah Islami Bank is successful to capture and retain
large number of customers.
 Though Bangladesh is a Muslim country, maximum people have no real Islamic
knowledge and Islamic finance. So, people easily go to other conventional bank
for their services.
 There are many illiterate clients of AIBL.
 Has not enough strong market policy
 Promotional activities are very poor
 There is no customer care section

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Though conducting this study I have acquired some practical knowledge about banking
system and other relevant matters. Now I would like to provide some recommendation,
which may be helpful to promote the performance of Al Arafah Islami Bank Ltd.
SWOT analysis shows with what types of weaknesses the Al Arafah Islami Bank Ltd.
Based on the SWOT analysis some recommendations are given below:
 Decisions from Professionals: To achieve goal of an organization like bank,
organization have to depend on the decision that are made by professional
bankers, who have great knowledge and experience in their field. Organization
should not take any adventurous decisions based on the unprofessional person's
opinion. It ensures the bank take decision on the point, not over the point.
 Co-operative Decision: To take a decision Al Arafah Islami Bank Ltd. and its
branches have to introduce co-operative decision making system, where each
staff will give their opinion regarding the problem to solve it. This system can
help the bank to take best decision.
 Advance Security System: To secure the branch from any types of threats like
robbery, thief, and loss from fire etc., the branch has to install security camera,
adequate fire defensive instrument and other security system. That will give
confidence and trust in the mind of customers.
 Strong Promotional Activities: To create a brand image in the mind of the
people, the bank has to take strong promotional activities as soon as possible.
 Aggressive Strategy: Remove the defensive strategy from the mind and take
aggressive strategy is the best decision for AIBL and its branches. Because,
defensive strategy does not make the bank leader of this sector, only it can help
the bank to survive.
 Introduce R&D Division: Introduction of Research and Development Division
(R&D Division) will be a best decision for this organization. Because, this division
can especially help the bank to create not only new deposit and loan products
but also other new services by research in the field, which will give the
organization competitive advantage over its competitors.
 Differentiated Marketing: Al-Arafah Islami Bank Limited practices mass
marketing. This is not appropriate for targeting all market segments. The bank

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needs to identify and then build up communication strategies based on those
needs about Islamic financing

 To establish Customer welfare -oriented Banking System:

 Customers are the hearts of the organization. They should provide more space in
the office and if possible, they should have some entertainment facility.
 Each branch should be decorated with Electronic Display Board, which will show
that which table is performing what function and now, whom is serving? The
branches should be decorated with proper Sound System facility, which will be
helpful to communicate with the clients or customers more easily. This system
will decrease the confusedness of the customer, which ultimately will increase
the efficacy of customer service.
 Al-Arafah Islami Bank Limited should try to continuous improvement of the
quality of human resources. So, Management should manage continuous training
& motivation.
 Al-Arafah Islami Bank Limited should try to satisfy customer with the price
 Most of the customers are 25-50 years old. Al-Arafah Islami Bank Limited should
target these customers about their investment for here & hereafter.

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Bank is a financial intermediary that mobilizes the funds of people into productive
investments. It serves the people by collecting deposits, disbursing loans and providing
various types of customer services. As a branch of private commercial Bank, Al Arafah
Islami Bank Ltd, Amberkhana branch, Sylhet has been providing services to its
customers from the very beginning of its establishment.
Proper financial system of a country can contribute towards the development of that
country’s economy. In our country Bangladesh, banks have a leading power to its
financial system. For this reason, the banks should have a potential role to make our
financial system. In this arena, private commercial banks are playing a vital role in the
development of our country. But the government and Bangladesh Bank play a crucial
role to the private commercial banks through imposition of deposit restriction, lending
role and other banking operations. In recent years of banking business, Al-Arafah Islami
Bank limited has shown better performance comparing with other first generation
Banks. I expect the AIBL may hold its prospect in future and can contribute a vital role
in the socio-economic prospective.

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- 46 -

 Annual Report of AIBL, 2010
 Annual report of AIBL 2011
Web Sites:
 www.google.com
 www.wikipedia.com
 www.aibl.com
Face to face conversation with employees & clients

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