BANK ASIA LIMITED Internship Report

AUGUST 16, 2015 NORTH SOUTH UNIVERSITY

Summer 2015

For: Israt Jahan Linda (IJL)

From: Ramisa Maliyat

111 0781 030

Letter of Transmittal

16th April, 2014

To

Israt Jahan Linda

Lecturer

NSU Business School

North South University

Plot-15; Block-B; Basundhara, Dhaka

Subject: Submission of Internship report on “Bank Asia Limited”.

Dear Madam,

I am delighted to submit our project report on “Bank Asia Limited” which CPDS had

authorized me to prepare as BUS 498 course requirement.

I have enjoyed preparing the report though it was very simple to finish within the given

time. In preparing this report, I have tried my level best to include all the relevant

information.

So, I therefore hope that, you will find it in order and if you have any query please do

not hesitate to e-mail me.

Sincerely,

Ramisa Maliyat

111 0781 030

ramisa77@yahoo.com

Acknowledgement

I am immensely grateful to Almighty Allah to help me successfully complete our

project report. I am grateful to our instructor, Israt Jahan Linda for assisting me

throughout project period. My appreciation goes to the concerned authority of Bank

Asia Limited.

I specifically want to thank Mr. Tanfiz Hossain Chowdhury, the branch manager of

Gulshan branch, who had monitor interns with the great patients. I thank him for his

endless help, support and guidance in my whole internship.

In addition to the input for my internship report, I have learned many aspects of

work and staffing process, which help us to be an enriched person in the future. I can

apply those information when I apply to various banking company.

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Executive Summery

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Contents

Bank Profile ................................................................................ Error! Bookmark not defined.

Vision, Mission, Core values ...................................................................................................... 4

Corporate Structure ..................................................................................................................... 5

Product and Services ................................................................................................................... 6

Departments & the People ........................................................................................................ 7

Assigned Job: ............................................................................................................................... 8

Learnings- Interactions- Achievements: ............................................................................... 14

“There Were No Expectations For Them. It Was Definitely A Learning Experience.”

- Sloan Devlin ........................................................................................................................ 16

Influence in Career Planning.................................................................................................. 16

If Chance Given For Internship Redo ................................................................................... 16

Conclusion .................................................................................................................................. 16

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Departments & the People

I have done my internship in the Gulshan-1 branch of Bank Asia Ltd. there were three

departments all together. These are: the general banking department, the cash

department, the credit department and the foreign exchange department. The hierarchy

of the position of the employees is given below:

The branch in-charge of the Gulshan branch is Mr. Tanfiz Hossain Chowdhury, who is

also senior vice president (SVP) of the bank. Mr. Mohammad Moinul Islam is handling

the operation manager position and also an assistant vice president (ASVP). Credit in-

charge is Mr. Zahirul Islam Khan, first vice president (FVP), Cash in-charge is Ms. Tania

Razwana, senior officer (SO) and lastly the Foreign Trade department in-charge is Mr.

Md. Mainur Rahman, first assistant vice president (FAVP).

Manager or Head of Branch

GB In-chargeCredit In-

chargeForeign Trade

In-chargeCash In-charge

Operation Manager

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Assigned Job:

My assigned job had various dimension. Unlike other employees I were rotated among

various department.

First Month: General Banking

Update account opening form:

My first job was to update account opening form. Actually those form was

partially completed by my supervisor Zinat Ara, Junior Officer. I just learn how

some basic things will be filled in those form. There are many types of form for

each type of account. I was only learned about the Savings Account from the very

first day to third day. Knowing proper code of savings accounts, customer type

code, and necessary papers required etc. are part of my learnings.

Current and Savings Account opening:

From fourth day to seventh day, my job was opening Current and Savings

Account. I also help those customer who wanted to open accounts by giving

necessary information. For example, customer need to submit their Tax Identity

Certificates, National ID card or passport copy, Nominee’s national card or birth

registration certificate copy, utility bill copy, salary certificate (if service holder)/

trade license (if businessman).

Pay Order Writing: When a person takes a slip in order to pay someone cash

against that slip, we issue a pay order. I just write on the Pay Order book by

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copying important information from an issued pay order paper, which is very

sensitive job of my first week. I only wrote one pay order on first week just for

learn the main idea.

Phone call for due cheque book:

Last day of my second week, I was given responsibility to give notification

those customers whose cheque book was not collected for 3 to 5 months. I had to

tell them their expiry date was very close.

Phone call for due ATM card:

On third day, I was given responsibility again to give notification to customers,

but this time for different things, who’s ATM was not collected for 3 to 5 months.

I had to tell them that their expiry date was very close.

Cheque Clearing:

From 5th day of my third week, Manager transferred me to Cheque Clearing

House. Actually here customers submit their cheque and now my supervisor Mr.

Riyaz only told to observer his work carefully so that from next week I can start

my job correctly.

Cheque receiving:

I started to receive cheques and gave seal of receiving, which would clear on

same day date. I also informed customers that when they should come and when

their cheque will be cleared. As from the rule of Bangladesh Bank, after 11 am no

cheque should be received. If received, then the cheque will go to next working

day’s house. Over five lakh taka (high value), the cheque clearing time is after 3.30

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pm of same day, and less than five lakh (regular value) will be cleared after 4.30

pm. This is the rule of Bangladesh Bank.

Shonchoy potro form fill-ups:

Shonchoy potro is a government risk free scheme. One can invest 10 thousand/

50 thousand/1 lakh/5 lakh to buy the scheme for 5 years. Then for every month

(or, for every 3 months) buyer will get the principal plus profit. If there is profit,

then they will get profit along with principal amount, otherwise only principal

amount will be given. Though it is not part of cheque clearing task, I just filled up

in leisure time after 4 pm when no customer did not come. My shonchoypotro

supervisor was Mr. Murad Mohammod.

Fill up ATM register copy:

On the other hand I also took account of ATM Receivers by taking their sign in

registration copy.

MS Excel task:

Very simple task, making ATM and Cheque receivers list on MS Excel sheet by

their name, ID, account type, account number, phone number etc.

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Last Two Month: Foreign Trade Department

FDD Forwarding Letter:

My first assignment was to make forwarding letter of FDD. Actually this is one

of the process of LC acceptance. Shortly forwarding letter is kind of notification to

LC issuing bank from Bank Asia.

Pay Order Forwarding letter:

Next I had same type of task that was to make forwarding letter of Pay Order.

This is also a notification to LC issuing bank from Bank Asia. There was a same

process. I have to write like an application format to issuer bank manager by

including serial number, amount in taka, issue and acceptance date, LC and

reference number etc. for forwarding letter.

LC Opening:

It was not that I issued or open officially LC, I just posted all necessary

information in Bangladesh Bank website. There is a site in Bangladesh Bank

website to input all foreign trade information. Every single information I had to

input there --- Beneficiary name, unit, amount, product type, applicant, Master LC

etc.

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LC Acceptance Posting:

On Bangladesh Bank website, we post the realized amount we actually

accepted for LC. After giving posting, Bangladesh Bank send an accepted ID no,

which we record in the LC file. For every LC application of clients, we maintain

separate files.

LC Payment Posting:

After acceptation, bank pays the payable currency to exporter. So we again post

the payment amount, foreign LC etc on Bangladesh Bank website.

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IMP form fill-up:

This form is for keeping import information. This have two copy- original and

duplicate. Original copy goes to Bangladesh Bank, duplicate one remains in

branch office. Here I wrote the information of exporter-importer country, amount,

freight charge, transportation type (by air/road/sea), product code number etc.

TM form fill-up:

This form is only for keeping record of Freight Charge. When bank buy a

product for importer, bank also pay the transportation cost. Importer know only

the product buying cost, not the transportation cost. For that reason bank keep a

record of freight which will also be paid by importer including product cost.

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Stellar input:

‘Stellar’ is a software runs by Java script, on Bangladesh Bank website, here I

made a list of importer’s buying information such as product code, payment

receivable-payable country code, currency code, bank branch code. So all

information was only noted by code number. Bank Asia website also have stellar

software, but I did not use that.

Learnings- Interactions- Achievements:

I had learned the basic steps of banking. Also learned link among all departments.

From account opening to LC payment, I learned those complex things very easily via

practical workings. Bookish knowledge may not give me as clear as that. Also learned

how Central Bank have important influence on private bank.

This internship experience has been truly a learning process for me. I have learned a

great deal of how a bank operates from this experience. Before this I had no idea about

how a LC is opened and goods are exported which are financed by bank. I learned to find

out required details from the document like realized value, LC value etc. I also learned

about different banking terms such as: AD branch code, dollar code, international

country code etc. I have learned about the loan sanctioning procedure of the banks and

its formalities. Get knowledge about what types of loan a bank serves to their valuable

customers. From different notable incidents at bank, I realized that patience is very

important when someone dealing with the customers. Customers easily get agitated or

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impatient but an officer is trained to handle this calmly. Therefore, I have learned a lot on

how to deal with different people and be patient when they are not.

Also I have learned time management and became a fast learner. Working with

different people and watching them work has taught me cooperation, team management

and conflict resolution. Doing various tasks increased my analytical ability and my

thinking has definitely become wide ranged.

Adapt with office environment is very important as I steps out from my student life.

For many people it was heard to tough. But my supervisors, other previous interns,

messengers help me lot to match with their environment. It was my great privilege that I

found those so helpful people. I am also acknowledged for my patients, concentration

and self-realization. I were praised for my clean and clear work and self-responsibility.

Special Cases-Difficulties:

From customers’ misunderstanding to wrong posting on Bangladesh Bank website, I

dealt with them patiently, and try not to repeat those mistakes. On the other hand my

supervisors and manager can understand that that was my learning period only. So

learned from my mistakes. Understand that how important to concentrate on each and

every issues of banking. How customers’ mistakes can ignored, as they are our main

concern rather than business.

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“There Were No Expectations For Them. It Was Definitely A

Learning Experience.” - Sloan Devlin

Exceptions do not always match with experience. Before internship I expect that

everything will be so tough. Assigned job will not be easily understood, there will be

complex mathematical problem. But the difficulties were not in counting money for every

purpose, not even in job. Job was easy, and there were simple math for every step.

Problems are in customers, yes it is, whom we thought as our center of business. What

were those problems, not paying LC on due time, not paying loan repayment on exact

time, fraud case, mortgage problems, misunderstanding sometime, and their misbehave.

These lead to stress, nothing else. But yes not all customers or clients were like those,

many were very decent and responsible of their duty.

Influence in Career Planning

Career planning is the continuous process of thinking about my interests, values,

skills and preferences; exploring the life, work and learning options available to me;

ensuring that my work fits with my personal circumstances. Now I am staring to think

that bank job is very enjoyable. This internship influence so much that I am starting to

prepare for admission in Bangladesh Institute of Bank Management have started already.

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If Chance Given For Internship Redo

If I will get another chance to redo my internship, of course I will be more careful than

now, will not try to make mistakes. Also request my manager to give opportunity to work

in Credit Department, because I think this department also important for learning. Main

reason is three month is too short time to understand fully of credit activity, so interns

were not advisable to work here.

Conclusion

I am concluding my Under Graduation courses by this successful internship in Bank

Asia. North South University immensely gave me knowledge and support in my

education life, moreover Bank Asia Limited conclude that learning by giving practical

knowledge.