Internship Report on Foreign Exchange of Janata Bank Limited

As an internee for three months. They give me the opportunity to gain practical knowledge and I work on General Banking System. I also worked for some days at the corporate branch in the Foreign exchange department. I have arranged my internship report on Banking activities. My aspiration is to endow the readers of this report with knowledge, tools and impeding, necessary to succeed in a Banking environment that is becoming increasingly and inevitably global. Banking sector now-a-days plays an important role to develop the economy of a country, especially developing country. Itis worthless to say how much important the banking sector to run the wheel of a country’s economyForeign exchange department plays significant roles through providing different services for the customers. Letters of credit is the key player in the foreign exchange business. With the globalization of economies, international trade has become quite competitive. Timely payment for exports and quicker delivery of goods is, therefore, a pre-requisite for successful international trade operations. To ensure this purpose, JANATA Bank Limited transmits L/C through SWIFT (Society for Worldwide Interbank Financial Telecommunication) to the advising bank. JANATA Bank Limited is providing different sorts of L/C services like L/C opening, Lodgment, BLC (bills under letter of credit), Back to back LC etc. Foreign exchange department also provide foreign remittance i.e. traveler’s cheque, foreign demand draft, endorsement of US$ in passport etc.

Throughout the report I made my every effort to be as current and up-to-date as possible in the presentation of theories, concepts and examples.

Today’s fast growing companies need business banking services that fully meet their expectations for speed, convenience, efficiency and security. To ensure their optimum level of satisfaction, regarding their necessity for this type of affluent banking services different types of local as well as multinational banks are coming up with diverse and dynamic corporate banking services.

The term “Bank” originally referred to an individual or organization, which acted as a moneychanger and exchanged one currency for another. According to
Prof. Sayers - “Banks are institution whose debt usually referred to as ‘Bank Deposit’- are commonly accepted in final settlement of other peoples debts”.

According to the Banking Regulation Act, 1949 – “ Banking means the accepting money for the purpose of lending or investment of deposit of money from the public repayable on demand or otherwise and withdraw able by cheque, drafts order or otherwise”.

Banks are playing a vital role in the economic progress of our country. Now-a-days, the banks try to give priority in the perspective of our national interest. The Banking Industry in Bangladesh is one characterized by strict regulations and monitoring from the centralgoverning body, the Bangladesh Bank. The chief concern is that currently there are far too many banks for the market to sustain. As a result, the market will only accommodate only those banks that can transpires the most competitive and profitable ones in the future.

Bank perform the in dispensable task of intermediating between the two groups and offering convenient financial service to surplus-spending individuals and institutions in order to attract fund and these loaning those funds to deficit- spending individuals and institutions. Another contribution of bank makes their willingness to accept risky loan from borrower, while issuing low risk securities to their depositors. Bank also satisfies the strong needs of much customer’s liquidity. It is true thus clear that the underlying principle of a business of banking is that the resources mobilized through the acceptance of deposit must contribute the main stream of funds, which are to be utilized for lending or investment purpose.

The main objective of the study is to gain practical knowledge and to acquire knowledge about the practice banking business. In addition, the prime objective of the study is to know the existing banking business in JANATA Bank Ltd.. The other objectives are given below:

As a part of the M.B.A program:
Ø To have an exposure on the banking environment of Bangladesh.
Ø To define the strategies regarding the strength and weakness of the bank.
Ø To Identifying the difference between theory and practice overall Management
Ø To know the general banking function, it’s procedures, rules and regulation
Ø To know the activities of the foreign exchange department
Ø To provide information about the BBL to the future researcher and readers who want to know about this bank.

The data needed for conducting the study has been collected from the primary sources as well as secondary sources. In collecting the necessary data, care has been taken so that all the variables that in some way can’t affect the objectives of the study. The information that I used in this study is collected by the following way:

Primary Data Sources:
v Direct working with officials of JANATA Bank Ltd.
v Face to face conversation with client.
v Practical deskwork.
v Observation for the total internship period

Secondary Data Sources:
v Manual of JANATA Bank Ltd.
v Bank’s other published information.
v Previous research books and journals.
v JANATA bank website Browsing
The major portion of data sources has been collected from secondary data sources. Information required formulating suggestions and recommendation have been availed from related text and research papers.

Modern Banking system does not execute the normal Banking activities. As a service oriented organization the management should keep an eye on their retail products and tout on these for sale. The Bank should design their products in such a way that can cater to the needs of people of different classes. In fact Banks offer its various products (loans and other services). Thus this study focuses on these products base marketing of financial products as how they are designed for which segment of customers they are offered, what are their usual benefit, what are the profits and changes to the customers, what type of promotion measures the Banks take for marketing these services smoothly and they like.

Basically, this study is conducted to unearth The Performance of Foreign Exchange related activities taken by the Bank and degree of customer satisfaction. The management should take new faces with innovative features touting diversified benefits to attract the customers. As a result at that, the practice of Foreign Exchange at the Public Limited Bank have been the concern this study with analysis of the Janata Bank Ltd. could help the management to think about their performance whether the present design of the Foreign Exchange practices are effective or they require to be re-furnished. The management of this Bank can identify the major bottlenecks of general Banking services and Foreign Exchange can attention, conviction and purchase by using this report effectively.

Objective of the practical orientation program is to have practical exposure for the students. Our tenure was for three months only, which was somehow not sufficient. After working whole day in the office it was very much difficult, if not impossible to study again the theoretical aspects of banking.

Other limitations are as follows:
q For the lack of our practical knowledge, some shortcoming may be available in the paper.
q The bank has naturally shown us some indifference connecting its most confidential information.
q The executives of Janata Bank Limited were too busy to spare time for the internee.
q The duration of our internship program is only 03 months. The allocated time is not sufficient for us to gather knowledge and to make the study a complete and fruitful one.
q The study also suffered from inadequacy of data provided by Janata Bank Limited.


ü To identify the historical background of the Janata Bank
ü To know the objectives behind their establishment.
ü To know General Banking and Foreign Exchange of Janata Bank
ü To know the objectives at present condition if they differ from the origin
ü To identify the major policies by which they are operating now.
ü To identify the facilities offered by the Janata Bank
ü To know whether Janata Bank adopted & coped with modern technological advancement in the banking system.
To identify the social responsibilities of the bank as a social entity.