Golam Saroar ParvezID: 143-14-1550

To understand the remittance management system of Sonali Bank Limited.

To know comparative contribution of foreign remittance received from various countries.

To know remittance received by Sonali Bank Limited.

To provide recommendations on the basis of findings.

Remittance means transfer of money from one to another.

Money sent home by migrants constitutes the second largest financial inflow to many developing countries.

Bank collects the remittance from exchange houses of different foreign countries.

These exchange houses collect money and information from the customers then send to the domestic bank by EFT or SWIFT.

Bank process these data with the help of customized software (RMS) which is prepared for processing these data.

The single largest source (35%) of foreign currency earner for the country.

Resolved the foreign exchange constraints. Improved the balance of payments. Increase the supply of national savings. Remittances also constituted a very important source

of the country’s development budget.

Foreign Inward Remittances: Family remittances - This is money sent by

individual immigrants to family and friends back home.

Community remittances - This is money sent by individual immigrants and by hometown associations to communities in their home country.

Expatriate Bangladeshis.Exporters.Visitors.

SBL tries to provide quality services to the known clients. The terms and conditions are too lengthy. SBL website is not sufficient to provide all documents

required to receive remittance. Lack of skilled manpower in remittance sector on this

branch. Lack of Internet facility. Lack of proper monitoring in remittance sector. Problems in software (it is now in the ongoing process) Process of receiving remittance is very lengthy. As a

result some of the customers are trying to go another bank.

SBL should introduce batter services for all customers. Terms and conditions to receive remittance should be

specified. SBL should rich there website with better information. The bank should recruit efficient manpower on this

sector.   High speed internet facility should be implemented. SBL should establish a proper monitoring cell to control

the queries of the customers. Problems of software should be managed soon. The bank should reduce harassments and take a less time

for the processing to give remittance like NCC Bank.

Remittance is very important issue in our economy. A major portion of GDP comes from this sector. If it is possible to improve the Remittance Management System of Sonali Bank Ltd. it may increase the inflow of foreign remittance.