Subject: Submission of Internship Report on Foreign Exchange of Southeast Bank Limited Study on Dhanmondi Branch. I am happy to have submitted my internship report here on “Foreign Exchange of Southeast Bank Limited Study on Dhanmondi Branch”. The report has been prepared based on the theory and practical learning outcomes of the three-month internship program at Southeast Bank Limited (Dhanmondi Branch).
This confirms that Faria Hasan, ID BA in English, is a regular student of the Department of English, Faculty of Humanities and Social Sciences, Daffodil International University. She completed her internship program at Southeast Bank Limited and prepared for this internship under my direct supervision. Her assigned internship topic is “Foreign Exchange of Southeast Bank Limited Study on Dhanmondi Branch”.
Zahidul Haque, Senior Vice President and Branch Manager Southeast Bank Limited, Dhanmondi Branch for his regular support, coaching and supervision in his preparation. And last but not the least, I would like to thank all the staff working at Southeast Bank Limited, Dhanmondi Branch. I am Faria Hasan, I hereby declare that the internship report titled Study of Southeast Bank Limited Exchange at Dhanmondi Branch, Dhaka has been prepared by me after completion of three months work at Southeast Bank Ltd.
The specific objective is to get an overview of the overall banking operations of Southeastern Bank LTD.
Introduction
- Company Profile
- Innovation & Expedition
- Core Values and Strength
- SEBL Facilities
There are many types of services in a bank such as providing loans, deposits and financial assistance. The origin of my Report is “Limited Study of Foreign Exchange of South Eastern Bank at Dhanmondi Branch”. So my focus and target is mainly on L/C file and foreign remittances of SEBL.
During this short period of time, the bank has proven to position itself as a major change company in Bangladesh. It is necessary for leaders, managers and officers in any organization to put innovation and expedition to achieve its future goal. The bank always tries to provide all kinds of facilities with great interaction with the customers.
In each update generation, they always try to provide the best and most modern facilities.
Chapter- Two Work Analysis
Internship Analysis
- Workplace & Responsibilities of the Job
- First Month Task
- Second Month Task
- Third month Task
- Complications Faced in Office
- Acute Observation
Through these, students can become more qualified and their job opportunities for the future increase. As a result, they guided me heartily on the right path, so that I will solve the tasks adequately. They sent me to the export section and the import section of the foreign trade department.
There are two sections, the export section and the import section in the foreign trade department. In the second week, they transferred me to the foreign department because there were 4 more interns including me in SEBL and there was no counter for interns, making it very messy. The most difficult part of the State Department is producing daily reports on the transition history.
Since 2015 they are growing by 37% and they have continued in that and this is a positive sign for the bank. One day they sent me to the main branch to deliver a chaque with another officer and it was located in Motijil. In the report, the noticeable fact is that the payment is made within seven working days of the file they received and they seem very careful about it. If the payment is delayed, the importer can claim it.
In the L/C file, after making a payment to the beneficiary for excepting the exchange, they approved it. Before confirmation, we need to verify the signature, and some closed file formats cannot be converted to a common file, so we keep it aside for the experts. Upon request, these files are sent with the documents to the negotiating bank and they send all documents to the issuing bank, the advantages of an L/C are if the importer does not pay the bill on time, but the bank has to control their cash flow on prepayment.
In some cases they have the second beneficiary, in that case they represent the original beneficiary in their absence, that's all I gleaned from the foreign tread section. Sometimes their software gets slow and the customer has to wait for a long time, creating chaos in the workplace. They questioned why we chose the banking sector for the internship from the background of English literature.
Chapter- Three Project Part
Compendious
- Economic Statement
- Secondary Sources
- How to Deal Foreign Exchange Market
- Characteristics of the Foreign Exchange Market
- Who is Involve in a Foreign Exchange Market
- Merits of Foreign Exchange Market
- Types of Payment in Foreign Exchange
- How to Open an Account in the Foreign Exchange Market
- Remittance
- Foreign Remittance
- The Process of Remittance
- Types of Foreign Remittance
- Lodgment
- Import
- Foreign Exchange of SEBL
Written records that cover a company's financial results and business activities are called financial statements. Currency currencies are trending in the market known as the forex market. There are 5 types of currency markets – the first is Spot Markets, the second is Forward Markets, the third is Future Markets forth Option Markets and the last is Swaps Markets.
Sports Markets: Buyers and sellers get their payment instantly according to the current exchange rate in this market. Put option: Similarly, when the stock market will give the circular for sale, it is called a put option. Future Markets: Like the forward market, the futures market also has two parties and future data on it.
Exchange Markets: In these markets there are also two sides such as futures and forwards market. It transforms one currency in terms of the fluctuation of another currency that happens in a foreign currency, so it is very risky for an investor to use a hedging process to reduce their risk. Dynamic market: The most risky market is the foreign exchange market because currency values change in a second.
Central Bank: The exchange rate of their country's currency to confirm that investor volatility maintains control over the money supply in the market. Collection or Documentary draft: It is a type of transition, where the transition is happening between the exporter's bank and the importer's bank, where the exporting bank refers to the sending bank and the importing bank refers to the collecting bank along with the payment instruction. When one lives in a foreign country and transacts with his family or other individuals, remittance is made.
Example; When a person receives a payment from another account within Bangladesh or from an account outside Bangladesh. Outward Foreign Remittances: It means transferring money in the form of foreign currency by an account holder in Bangladesh outside Bangladesh, or in short, sending money from a foreign country to a home country. According to the source, the total percentage of Bangladesh's exports and services is now 12.18% and import GDP = 18.58%.
Chapter - Four
Finding, Recommendation, and Conclusion
Findings
- Pie Chart of SEBL Technique
- Recommendation
- Conclusion
As a result, they submit their review and we collect their response to add to this report. I add this question because people need to know about this, what types of banks they use. We can see that much less people are satisfied with the overall banking service of the bank.
After receiving the response, we can observe that almost 80% of people are satisfied with their hospitality, and surprisingly no one is dissatisfied. Through that graph, we learn how many changes they need to make for improvements. Well, it is my pleasure that more than 90% of people are satisfied with our L/C procedure.
L/C should be generated directly for the customer so that smooth export/import can appear. After a study of the practice, we identify that customer satisfaction balanced the standard of a bank. Those people who do business with a foreign country get a strong welcome from the bank.
In Bangladesh, banking is a very competitive business for money transactions, banking is one of the safest and most secure ways.
Appendices
Questionnaire
Are you satisfied with the foreign trade online platform on the SEBL website?
Joining Letter
Working Time in SEBL
