Internship Report On Foreign Exchange Management of Janata Bank Limited

Janata Bank Ltd is a govt. owned bank with numerous branches spreading all over Bangladesh. It is committed to provide high quality financial services / products to contribute to the growth of G.D.P. of the country through stimulating trade & commerce, accelerating the pace of industrialization, boosting up export, creating employment opportunity for the educated youth, raising standard of living of limited income group and overall sustainable socio-economic development of the country. It collects remittances from NRB from different countries and transfers the currency in BDT to the destined location.

The Internship program has given me a great opportunity to combine my theoretical knowledge with practical experiences. I believe that it will be very helpful for me. My topic is “Foreign Exchange Management of Janata Bank Limited” I choose this topic because it adds a new interval to our people & during my internship I have spent maximum time in SWIFT, Clearing & Accounts opening section. So it is easier for me to get all sufficient important data’s which is needed for my report work & I also feel interested to deals with this topic. Specific objective of my Project is Develop and propose some new ways in which service quality can be enhanced to attract customers & determine the satisfaction level of the customer about the service provided by the foreign exchange banking department JBL.

Here I have tried to describe the remittance processing structure of JBL. Along with, I have included the changes made by globally accepted protocol UCP-600 and wired transfer service SWIFT.

In this report I have tried to show the contribution of JBL’s remittance earning on national remittance earning. JBL’s performance is not dissatisfactory but the remittance earning is not increasing as the rising national remittance curve. After analyzing the data of JBL’s remittance earnings process this report have suggested that JBL lacks in foreign currency collection structure. Its remittance earning is increasing but the increase is far below the national remittance increase. JBL should take up to the mark structural change in service to cope with the national trend and help Bangladesh earn more remittance.

In addition, with this intern report have been included the regression analysis of import-export volume with regard of exchange rate.

This report has a certain purpose to focus on the operations of “Foreign Exchange” of Janata Bank Limited. Without any doubt Foreign exchange catches the flash as it has great importance in the balance of trade in economy.

Economic history shows that development has started everywhere with the banking system and its contribution towards financial development of a country is highest in the initial stage.

Modern banks play an important part in promoting economic development of a country. Banks provide necessary funds for executing various programmers underway in the process of economic development. These scattered amounts are collected, pooled together and made available to commerce and industry for meeting the requirements. Economy of Bangladesh is in the group of world’s most underdeveloped economies. One of the reasons may be its underdeveloped banking system. Government as well as different international organizations have also identified that underdeveloped banking system causes some obstacles to.

In 1996, World Bank published ‘Bangladesh: Agenda for action’ in which it has suggested a lot of recommendations for economic development of our country. These recommendations include special presentation for reforming banking sector. Bank is the most important financial institution in the economy. Today’s modern banks are not only provides traditional banking, rather banks are expanding the menu of financial services, banks are making the untouchable service touchable for their customers.

In today’s world, technological and financial advancement is influencing every human activity. Commercial banks have been playing a vital role in the world economy.