With due respect, I am submitting my internship report on "Performance Evaluation of Deposit Service of First Security Islami Bank Ltd., Ranabhaola Branch" for partial fulfillment of my BBA Programme. I declare that this practical report on the subject "Assessment of the deposit service performance of First Security Bank Islami Ltd. Ranabhola Branch”. was just about to complete the BUS 490 Internship course, a partial requirement of the Bachelor of Business Administration (BBA).
This focuses on three months work experience in FSIBL, Ranabhola Branch and the topic of the report is "Performance Assessment of Depository Service of First Security Islami Bank Ltd., Ranabhola Branch." I have tried my best to provide a clear idea about the deposit performance of First Security Islami Bank Ltd. In the analysis and research part, I have highlighted the financial performance of FSIBL, Ranabhola Branch deposits. In my research work, I found some problems in analyzing the financial performance of FSIBL Depository, Ranabhola Branch.
The scope of this report is limited to the study of deposit services of FSIBL, Ranabhola Branch. I completed my internship in that branch so the scope of study is FSIBL Ranabhola branch.
Research Methodology
Limitations of the Study
ORGANIZATION PART
- Background of First Security Islami Bank Ltd
- FSIBL Corporate Profile
- Five Years Financial Performance of (FSIBL) at a Glance
- Corporate Mission & Vision
- Organizational Structure of FSIBL Bank Ltd
- Organizational Structure of Ranabhola Branch
- Products and Services
- TRANSFAST
- Breakdown of Deposit
- Deposit Rates
First Security Islami Bank Limited (FSIB) started its journey on August 29, 1999 under the leadership of Mr. . The bank's commercial banking operations include a wide range of services including taking deposits, granting loans, discounting bills, performing money transfers and foreign exchange transactions, and performing other related services such as safekeeping, receiving and issuing of guarantees, acceptance and letters of credit.
Since January 1, 2009, the bank has become a banking system that focuses on Islamic Sharia rather than traditional banking. FSBL's mission is to provide banking services to our valued clientele with extreme skill and sincerity, enhanced by an efficient workforce and latest advanced technology. The vision of FSBL is always to strive to achieve superior financial performance, to be regarded as a leading Islamic bank of reputation and perfection.
Try to encourage savings in the form of direct investment to play a vital role in human development to establish a good banking system.
Mudaraba Monthly benefit Scheme
Financial highlights of the Branch
Al-Wadiah Current Deposit
FIVE YEAR DEPOSIT MIX
With the prior permission of the account holder and without risk to the account holder, the Bank may use the fund at its discretion. The customer can withdraw all (or part of) the fund without notification to the bank.
NO. OF ACCOUNTS OPENED IN AWCD
Mudaraba Saving Deposit
The clients are Shaheb-Al Mal under the same principal and the bank is Mudarib. Mudaraba savings accounts are primarily intended for non-trading customers who have some potential savings with a limited number of transactions. In that case, the guardian will obtain a statement stating the date of the minor's birth.
These two figures show the total amounts of Modaraba Savings Deposit per year and the number of accounts opened in Ranabhola branch. As the figure shows that the amount of total deposit and number of account holders is gradually increasing in this branch. Mudaraba depositors must distribute at least 65 percent of the investment income according to the weight assigned to each account.
Mudaraba Term Deposit
Laws on money laundering, for a specified period, but not less than one month with the obligation to return the deposited money with a more or less specified percentage of profit (tax is taken into account) after the period expires. A sane adult (individual or jointly) or any institution/organization can open an MTDR account with any branch of the bank. One or more accounts can be opened in the same branch of the bank.
Duration sand weights of MTD
General terms and conditions for opening deposit account
Except for Al-Wadeeah CD Account, the account will be managed on Mudaraba principles. At least 65% of investment income will be distributed to the Mudaraba depositors according to the weight age assigned to each account. Bank reserves the right to adjust the principles of weighting and revenue sharing according to the standard and policy of the Bank.
The laws, rules and regulations, customs and procedures of Bangladesh applicable to the Scheduled Bank of Bangladesh shall apply to and govern the conduct of the opened account of the Bank. Service fees or account maintenance fees will be charged by the bank from time to time in accordance with the bank's standard and policy, and the bank reserves the right to charge all costs and expenses (including collection fees and legal fees) in connection with the to recover your account. In each case. Any person to whom the bank is obliged to provide information or who has been authorized by law or court order.
The customer must notify the bank immediately of any change in the provided data, otherwise the bank is not responsible for the consequences. The Customer agrees that the Bank shall not be liable for any loss or damage if the Bank is unable to provide services in respect of any Customer's accounts due to postal, postal, electrical, electronic, telecommunication or higher factors, accident, conflict, civil or industrial unrest , computer failure or any other cause beyond the Bank's control and cannot be resolved. The bank reserves the right to close any account without prior notice if, in the bank's opinion or for any other reason, the account's operations are unsatisfactory.
The bank's opinion shall be final and conclusive and binding on the consumer in this regard. The Bank reserves the right to change the present rules at any time in any way it deems necessary, either individually or for the public, with or without prior notice to the account holder(s). In the event of the death of the account holder(s), the account will cease to be active and the entire beneficially deposited amount (if applicable) will be paid to the nominee(s) as stated in the account opening form. account.
If the nominee is a minor, the same amount will be paid to the minor's legal guardian. If the account is collected before the total final profit percentage is reported, the account holder(s) will be entitled to an interim profit percentage and the bank or account holder(s) will not be entitled to claim additional profit if the declared annual final profit percentage differs from the interim profit percentage. The additional terms of each account, as stated above, are considered an integral part of the terms and conditions.
ANALISIS AND RESEARCH PART
Five Years Financial performance of First Security Islami Bank, Ranabhola Branch at a Glance
Ratio analysis
Ratio Analysis of First Security Islami Bank Ltd. (Based on Annual Report)
Return on Asset Ratio of FSIBL
Return on Equity Ratio of FSIBL
Ratio analysis of the branch
- Cost of Fund Ratio
Cost of fund of the branch
Advance deposit ratio of the branch
SWOT Analysis of First Security Islami Bank Ltd
SWOT Analysis of FSIBL
SWOT will reflect the company's core competencies in identifying opportunities it is currently unable to exploit due to resource gaps. A SWOT analysis is only as useful as the information it contains, just like any planning tool. The bank has run its business with its own images, which have been serving its customers since its opening.
They have been successful in providing services and goodwill among the banks based on Sharia. There was a combination of different ideas and expertise in the bank management, which is very important for success in today's competitive market. Since the bank provides a wide range of products and services to the customers, most of the funds come from deposits.
One of the weaknesses of FSIBL is that most of the information is not available on the website. As when I was preparing this report, I faced a lot of difficulty in finding the information about the deposit services offered by the bank and had collected most of the information from the branch regarding the branch's performance in terms of deposits. Sharia banking has been able to attract customers as Bangladesh is a Muslim country and has achieved great success in the private banking sector.
FSIBL is therefore able to reposition its branding and integrate consumer banking with corporate banking. Various foreign and private banks today often offer similar types of products with an almost identical profit margin.
Findings Recommendations and Conclusion
Findings
Recommendation
Findings and Recommendations
To prepare this report, I tried to find out the effect of financial performance on deposits, turnover rate as well as number of customer responses and prospects towards deposit service of FSIBL. Customers do not get prompt service to open a deposit account at FSIBL, Ranabhola branch, due to lack of staff at the account opening desk. Similar to FSIBL, an internship in a bank is a great way for me to learn more about the actual work I would be doing on a regular basis.
FSIBL employees were very helpful during the internship and always helped me to understand. First Security Islami Bank is a well established bank and its Ranabhola branch is also an established branch. Therefore, it is really very difficult for me to recommend any aspect of the Bank.
However, since this is a requirement of the report, after conducting research and analyzing the financial performance of the branch, I have come up with some recommendations. FSIBL focuses equally on all schemes; so we should try to update all types of deposit schemes. So the bank could publish a notice and provide it to the website so that investors can get some idea about the terms and conditions of the MSTD.
Conclusion
Appendices
