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American International University-Bangladesh (AIUB)

Welcome to my Presentation

The Procedures of Foreign Exchange


Chartered Bank Ltd.

of Standard

Prepared For Mr. R. Tareque Moudud, FCMA, Director, Office of Placement & Alumni (OPA), American International University-Bangladesh
Name: Asif, Md.Asifur Rahaman ID:08-09939-1 Major: Accounting & Finance

Presentation at a Glance

Introduction Overview of the Company Objectives Methodology Foreign Exchange operation analysis Findings Recommendation Conclusion

INTRODUCTION
Trade in Services refers to the sale and delivery of an intengible product, called a service, between a producer and consumer. Trade in services takes place between a producer and consumer that are, in legal terms, based in different countries, or economies, this is called International Trade in Services. Trade Service is totally related with the transaction of ImportExport- Letter of credit. There are so many rules and regulation in trade service department. SCB plays a importent role through trade service in Bangladesh and it also helps to increase profit. They create a global service thorough which a client can have their service at one place. They believe in customer trust so that they maintain it with high priority. Every transaction of foreign exchange is interrelated and its give servicing to customer of all over the world

OVERVIEW OF THE COMPANY

Chartered Bank started operating in Bangladesh opening a branch in Chittagong. The Chartered Bank opened another branch in Dhaka in 1966 After the merger of the Chartered Bank with the Standard Bank in 1969, the Standard Chartered Bank took up a program of expansion. In 1993, there was an organizational re-structuring, which led to a substantial expansion of the Banks Business Standard Chartered Banks branch banking license in Bangladesh allows it to offer a full range of banking services.Since the organizational restructuring in 1993, the amount of deposits and loans in 1997 has increased by more than five times. There is an overall increasing trend of Standard Chartered Banks market share in terms of deposits and advances. Standard Chartered PLC, listed on the London, Hong Kong and Mumbai stock exchanges, ranks among the top 20 companies in the FTSE-100 by market capitalization.

OVERVIEW OF THE COMPANY


Mission
The bank has a mission to build and grow on its 150 years of experience and the positive image that it has earned over the years. The understanding factors on its four values Responsive, International, Trustworthy and Courageous.

Vision
The vision of SCB is to make it experiences, which satisfy the customer and an environment where the people like to stand out. This bank has achieved a positive slot in the hearts of Bangladeshi people for its long-standing service and quality.

OBJECTIVES OF THE STUDY


To discuss about the import & export policy of the Bank. To analyze the export and import functions and financing of the branch

To focus on growth and development of foreign Exchange business in SCB.


To identify the problems and prospects of foreign exchange. To know the risk involved in the foreign exchange business. To identify the limitations and possible weak points of successful/effective credit management system.

METHODOLOGY OF THE STUDY


Data & Information

Primary Source

Secondary Source

SCB web site SCB annual report Bangladesh bank circular SCB operation manual Govt. circular Statement and opinion shared by the manager

Face to face conversation with employees Reference books on banking Personal observation Work experience

Analysis of Foreign Exchange


Modes of Foreign Exchange Payments One may come across a number of modes of payment which are being used for receiving trade proceeds. Theses are Cash in Advance Open account System Documentary collection Documentary credit

L/C(Letter of Credit)

Typically the documents requested in a Letter of Credit are the following: Commercial invoice. Transport document such as a Bill of lading or Airway bill. Insurance document. Inspection Certificate. Certificate of Origin. Procedure of opening L/C Document needed from importer for opening L/C

L/C(Letter of Credit)
Types of Letter of Credit
Sight

payment credit. Deferred payment credit. Acceptance credit. Negotiation credit.


Parties to a Letter of Credit The Issuing Bank. The Advising Bank The paying Bank. The negotiating Bank

IMPORT
There are several terms which need to be defined in term of import they are given below H.S. Code Number L/C Authorization (LCA) Form Actual user Clearing and Forwarding Agent (C&F Agent) Import bills for collection Shipping guarantee Discrepant documents

EXPORT
There are several terms which need to be defined in term of import they are given below
Export letter of credit advising Pre-shipment export financing Export bills for collection Export invoice financing Foreign inward remittance Foreign outward remittance PRC(Proceed Realization Certificate)

FINDINGS

SCB is proving themselves as a trustworthy service provider in trade service operations. They are focusing on Customer relation, Time management , Customer Oriented Services SCB also follow the Global aspect and maintain a global Village to provide the best service to the customer. SCB believes in one to one communication with clients with give them eradicate many confusions SCB hired lots of relationship managers so that they will comply with customer 24/7. SCB negotiates for customers to make them satisfied with their services

SUGGESTION

Internal Coordination of Transaction Banking should be improved. Sales promotional activities should be considered and designed in a new way. Specific attention to corporate Client problems. Dependence on local banks should be minimized. Decision making power is preserved by head office Branch manager has to wait for decision from center. This system should be changed.

CONCLUSION
Standard Chartered Bank is the most successful and prosperous foreign commercial bank of our country. Globally it was placed in 9th position in branding among all famous brands of United Kingdom in the year 2007. In this report an honest attempt is made to describe the Transaction Banking unit of SCB, its operation, products, segments, component, and problems. In this report, a survey is conducted to determine the corporate customers opinion about the service and product performance of Transaction Banking and their satisfaction level by using different products of Transaction Banking. The recommendations are made on the basis of survey results and the experience that have developed during internship program at Standard Chartered Bank. After considering all aspects, it can be said Trade Service is inevitable part of any Bank. Like SCB for every bank Trade is very crucial which is belongs to Financing. By this service, bank is having their maximum business. Therefore, the proper implementation of services and policies as well as strategies can bring welfare for the organization