Associate Professor & Associate Head Department of Business Administration Faculty of Business and Entrepreneurship Daffodil International University. This is to certify that Nayon Chandra Karmaker, ID a student of the Department of Master of Business Administration of Daffodil International University has completed his internship report entitled "Customers' Perceptions on the Foreign Exchange Operations of United Commercial Bank Limited", under my supervisors and guidance . . Customers' Perceptions of the Foreign Exchange Operations of United Commercial Bank Limited.” was uniquely prepared by me after completion of two months works in United commercial Bank Limited, Narsingdi branch.
I would like to thank the management of United Commercial Bank for providing the opportunity to do the internship successfully and share their valuable experience. This internship report is prepared for the Masters of Business Administration, which is required for this program. After completing my internship program in the marketing department of United Commercial Bank, I have prepared my internship report with my knowledge and practical skill, experience.
This report was prepared on "Customers' Perceptions on the Foreign Exchange Operations of United Commercial Bank Limited", and there the marketing department for improving their foreign exchange United Commercial Bank is one of the pioneer financial companies in Bangladesh, and this organization organize different types of research team to increase their foreign exchange to get better output. In this study I have shared my knowledge and experiences after working with a famous financial company called United Commercial Bank, Narsingdi branch. The faculty of business and entrepreneurship has designed different curricula and MBA (Masters of Business Administration) is one of those in which courses are designed in a way by making them international standard where business graduates can be made.
UCBL spends a huge amount for their marketing department for foreign exchange research and it is not vastness but it is investment to get information about foreign exchange.
Study Objective
Research Scope
Methodology of the Study
Sources of Data
Method of Data Collection
- Primary Data
- Secondary Data
- Data Analysis Technique
- Report Preparation and Procedural Time
For collecting secondary data, I have collected information from various journals as well as customer satisfaction reports of organizations. Although the organization does not provide that much information and has a web page to collect the information from the internet. It is a process of inspecting the data after cleaning and transforming the data as well as doing the modeling of the data.
Its purpose is to find accurate and useful information and after using the data to draw conclusions from the data.
Limitations of the Study
Chapter Two
Overview of United Commercial Bank
- Organization History
- General Information about the company
- MISSION
- VISION
- Core Values of UCBL
- Organizational Structure
- Loans& Advances
- Retail Banking
- Short Term Finance UCBL
- Long term Finance UCBL
- Social Compliance
United Commercial Bank, one of the pioneer banking organizations established on April 17, 1980 and 1983, started their operation as a public company and began their banking activities. UCBL is starting a new commercial bank to provide effective service to develop economic as well as our country. At this time mercantile banks start their operations across the country and we know that they have 83 branches with different types of services as well as their core business is to provide loans and get deposits.
UCBL plays role when they pay lonely recently this organization give loans in different types of businessman to their company this amount BDT, its main investment in business, construction, clothing and several different businessman. Aiming to be the first choice for banking in operating in the industry with a team of their own career and banking future. Besides that, manage different types of business in a fully controlled environment without compromising on service quality.
All employees are an asset to the organization, this organization respects and honors the dignity of all employees to motivate and increase performance. Cash Credit : A cash credit account, like a checking account, has a transaction limit for withdrawals from the account. Insured overdraft (sod-general): The account is adjusted with the proceeds of the sale or from the customer's own source. Quarterly Benefit Deposit Scheme i) Time Benefit Deposit Scheme.
Maintaining a reasonable well-being and safety condition in production lines are central and most imperative tasks and to achieve this goal. They consistently train our workforce on the fire welfare standard and begin progress to increase the fire extinguishing limit. They are concerned about the ongoing fire incidents in the garment production line in Bangladesh and our oversight group is proactively working to improve standards wherever possible.
Chapter Three
About Foreign Exchange
- Foreign Exchange
- Import section
- Import Business
- Import procedure
- Proposal for opening of L/C
- The L/C application form
- Export section
- Export Business
- Export policy
- Export procedures
- Back- to-back L/C
- Export L/C
- Settlement of local bills
- Mode of payment of Export bill under L/C
- Export Financing
- Pre-shipment credit
- Post Shipment Credit
- Export document checking
- Foreign Remittance Section
- Foreign Inward Remittance
In this business world, the bank must always provide services regarding exchange services, because today most of the business is spread all over the world, so it is necessary to use this process to do business in the whole country. Imports are the flow of goods and services purchased from another intermediary located in another country. Import of goods in Bangladesh Ministry of Commerce controls the entire import and export activities based on the Import and Export Act 1950 through Import Policy Orders issued annually and public notices issued from time to time by the Office of the Chief Controller of Imports and export. .
It must be renewed every year, and this certificate is also required for the contractual representative of the seller and buyers. Duly completed form in five copies, signed by the importer • Letter of credit application, duly signed by the importer. In the public sector, a certified photocopy of the award letter issued by the awarding authority, administrative ministry or department stating the source, amount, purpose, validity and other conditions of importation.
All documents which may be required as per the instructions issued by the Chief Controller of Imports and Exports (CCI&E) from time to time. The letter of credit application must be duly completed/completed and signed by an authorized person of the importer before it is submitted to the issuing bank. Export policies formulated by the Ministry of Commerce; The GOB organization provides general guidelines for the promotion of the latter credits.
The export-oriented private sector representative Export policy is to consult with the agency and the chamber, and the government has also established the various export promotion organizations that are represented. The import and export trade in our country is regulated by the Import and Export Act, 1950. UCBL, New Market department buys only the local bill known as Inland Documentary Bills for Purchase.
During each of these phases, exporters need different types of financial assistance depending on the nature of the export contract. Pre-shipment credit, as the name suggests, which is given to financial activities of an exporter before the actual shipment of the goods for export. Before granting such credit to the exporters, the bank provides different type of roles and regulation which is consideration about the creditworthiness, export.
27 the performance of the exporters, along with all other information necessary for sanctioning the loan. This type of credit refers to the exporter providing post-shipment bank credit against the goods/export document.
Chapter Four
Analysis and finding
- Analysis
- Do you know about foreign exchange?
- UCBL better perform for foreign exchange?
- Employee always willing to help opening L/C?
- Easy procedure to opening L/C?
- Organization L/C charge clear to the Customer?
- UCBL perform widely to the market place as a foreign exchange service provider?
- Employees of your bank have enough knowledge to answer your questions?
- Your bank has modern equipment’s?
- Findings
In this chart, 50 percent of respondents agree with the statement, and in addition, 50 percent have a negative perception, which is 30 no comment, 20 percent disagree, and 15 percent strongly disagree. This flow diagram shows that 44% of the respondents agree with the statement which bank provides better performance and 14% of the respondents strongly agree with the statement and the rest of the respondents disagree that they feel that the organization needs to step up. In this chat, the majority of respondents make this percentage negative more than 50 percent, in addition, 20% strongly agree and 27 percent agree with the statement.
Here the largest number of respondents respond positively: 32% strongly agree and 39% agree with the statement. This flowchart indicates that 44% of the respondents agree with the statement that the bank provides the best interest, while 14 percent of the respondents strongly agree with the statement and the rest of the respondents disagree that the organization needs to increase the step.
Chapter Five Conclusions
- Conclusions
- Reference
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- Book References
- Schmidt T.-Strategic Project Management Made Simple – Practical Tools for Leaders University of Wisconsin
UCBL uses various strategies to keep pace with the current market and to deliver new products and services to its customers. As Bangladesh's economy grows, foreign trade and UCBL Bank have always played a role in ensuring that this national situation is going well. The bank is trying its best to provide better import, export and remittance services to the customers.
Exports show a positive trend even after the global challenge of imports, but the bank needs to improve its remittances. The management of foreign trade by banks has increased in recent years; This may be due to the opening of new branches in different business centers. Schmidt T.-Strategic project management made simple – practical tools for leaders University of Wisconsin Leaders University of Wisconsin.
Rethinking project Management: Structured Literature Review with a Critical View at the Brand-New World, Arhus Literature Review with a Critical Look at the Brand-New World, University of Aarhus, Denmark. Use of effectuation in projects: Impact of business case control, intensity of portfolio monitoring and project impact of business case control, intensity of portfolio monitoring and project innovation,.
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