Foreign Trade Financing: A Study On Jamuna Bank LTD, Agrabad Branch

Internship Report on Foreign
Trade Financing: A Study on

Jamuna Bank Ltd, Agrabad
Branch
Chapter One
Introduction
FOREIGN TRADE FINANCING: A STUDY ON JBL, AGRABAD BRANCH 1

1.1 Background of the studies:
It’s simple to say that Bank is financial organization that deals with money. But it is the precise most
definition about bank. In modern age it is impossible to think a country without bank. Banks play
diversified role in an economy. Banking plays very significant contribution towards socio-economic
development of a country. This sector is considered to be like the life blood the economy as well. As one
of the most important components of the financial system it forms the core of the money market and
plays very pivotal role in mobilizing resources for productive investments in a country which in turn
contributes to economic development. The efficiency of the sector is very important for overall
development of the country. The most important task that is done by a bank is building of capital. That
is the key factor of the development of an economy. An Industrialized nation’s build their industrial
sector with the help of banking sector. The growth of the economy also depends on the performance of
the banking sector. Banks secure money of the society. Government takes various monetary policies.
These policies are implemented with the help of banking sector. It is impossible to do foreign trade
without the help of bank. Banks provide services that help the business sector a lot to carry on the
business.
Jamuna Bank Ltd. is a third-generation bank in Bangladesh. It provides commercial banking services in
the Bangladesh. It is playing an important role to develop the business sector. The growth of this bank is
very good. Its motto is to provide a prompt and quick service to the clients. Jamuna Bank Ltd. has
implemented well-structured online banking systems that make it easier to provide prompt services to
the customer. The bank primarily engages in corporate banking, trade finance, project finance, retail
banking, small enterprise finance, consumer finance, and syndication. Its range of service offerings
include cash management services, payments and clearings, safe deposit locker services, employee
benefits, collection services, treasury services, asset management services and SWIFT for foreign trade.
This report has been prepared in the light of practical as well as theoretical knowledge. Also, it is prepared
under the guidance and supervision of the core teacher. During the internship program I have got a good
idea about the bank and that is depicted in the report.

1.2 Origin of the Report
The internship program is required course for the students who are doing post-graduation from University
of Chittagong. It is a three credits hour course with the duration of 3 Months. Students who have
completed all the required courses are eligible to for this course. In this internship program, I was attached
to do my internship by rotation to all departments of Jamuna Bank Limited, Agrabad Branch, Chittagong.
Then, the academic supervisor assigned me on this project. The report is on “Foreign Trade Financing:
A study on Jamuna Bank Ltd., Agrabad Branch’’
1.3 Objective of the study

The objectives of the report are to make us known the practical situation of commercial banks of
Bangladesh in overall activities and prepare me to face the complex situation of banking in this country.
The principal objective is to make a study to gather practical knowledge about foreign trade financing.
Objectives of the study are summarized in the following manner.
General objectives:
The general objective is to prepare and submit a report on “Foreign Trade Financing: A study on Jamuna
Bank Ltd., Agrabad Branch”.
Specific objectives:
To apply theoretical knowledge in the practical field.

To present an overview of JAMUNA Bank Ltd.
To observe the foreign trade operation of bank
To evaluate the foreign trade performance of the bank
To identify foreign trade product of the bank
To know about the foreign trade financing
To discern about the import, export and income from these over a certain period of time.

1.4 Methodology of the study
At the time of my internship period, I tried to use both primary and secondary data that I have gathered
from different sources. For preparing this report primarily I got some data from face to face conversation
of different employees of JBL Agrabad branch and some from different reports and features of the bank.
Sometime I have undergone group discussion, asked some questionnaires to the responsible officer of
that work and interviewed with some of them. I observed different parties and their transaction from a
very close eye. All of this observation and data are included in this report.
Sources of data:
Primary sources
Personal interview – face to face conversation and in-depth interview with the respective officers
of the branch.
Personal observation – observing the procedure of banking activities followed by respective
department.
Practical work exposures on foreign trade area of the branch.
Informal conversation with the clients or customers.
Relevant documents related to the study as provided by the officers.
Secondary sources
Annual report of Jamuna Bank Ltd. – 2016-17
Journals published by Bangladesh Bank.
Different publications regarding banking functions and foreign exchange operation.
Website and newsletters are also used as major sources.

1.5 Limitation of study
From the beginning to end, the study has been conducted with the intension of making it as a complete
and truthful one. In spite of having the wholehearted effort, there exist some limitations, which acted as
a barrier to conduct the program. The study considers the following limitations:
The allocated time (three months) was not enough for getting a sound knowledge about the study.
Bank is a busy enterprise, there is a rush of customer throughout the day and the employee were
mostly busy in dealing with the customers. As such they didn’t have much time to share.
Supply of more practical and contemporary date was another shortcoming.
Confidentiality of data was another important barrier that was faced during the conduct of this
study. Every organization has their own secrecy that is not revealed to others. While collecting
data on JBL, personnel did not disclose enough information for the sake of confidentiality of the
organization.
The data requested for sufficient analysis for report writing could not be collected due to excessive
workload.

Chapter Two
Organization Overview

2.1 Overview of Jamuna Bank
Jamuna Bank Limited is a banking company registered under the companies Act 1994 with its Head
office at Chini Shilpa Bhaban (2nd floor, 3rd floor & 8th floor), 3, Dilkusha, C/A, Dhaka-1000. The bank
started its operation from 3rd June 2001.
Jamuna Bank Limited is a highly capitalized new generation Bank with an Authorized Capital and Paid-
up Capital of Tk.10000 million and Tk.4488 million respectively. The Paid-up Capital has been raised to
840 million and the total equity of the bank stands at 8325 million as on December 31, 2016.
JBL undertakes all types of banking transactions to support the development of trade and commerce of
the country. JBL’s services are also available for the entrepreneurs to set up new ventures and BMRE of
industrial units. The Bank gives special emphasis on Export Import, Trade Finance, SME Finance, Retail
Credit and Finance to Woman Entrepreneurs.
To provide clientele services in respect of international Trade it has established wide correspondent
banking relationship with local and foreign banks covering major trade and financial centers at home and
abroad.
Jamuna Bank Ltd. was established by a group of winning local entrepreneurs conceiving an idea of
creating a model banking institution with different outlook to other the valued customers, a
comprehensive range of financial services and innovative products for sustainable mutual growth and
prosperity. The sponsors are reputed personalities in the field of trade, commerce and industries. The
Bank is being managed and operated by a group of highly educated and professional team with diversified
experience in finance and banking. The scenario of banking business is changing environment. Jamuna
Bank Ltd. Has already achieved tremendous progress within only two years. The Bank has already ranked
the top out as a quality service provider & is known for its reputation.
Organizations are open system that needs careful management. Jamuna Bank discreetly pursues the
principles of openness, disclosure and compliance to regulatory authorities, transparency in performance,
integrity in dealings, ethics in banking and accountability to the shareholders in corporate governance.

Jamuna Bank is pledge-bound to keep it free from the clutches of loan default culture. All our units are
the centers of excellence. Our underlying commitment to professionalism and a single-minded devotion
to service to our customers characterizes our style in all operations. We involve with the changing needs
of our customers and the processes go on.
The Bank ensures orderly relations between clearly defined functions of the Board of Directors and the
management. Their role remains sharply bifurcated. The Board formulates policies and frames
procedures. Be management implements them and acts within norms. The management enjoys full
independence in managing the banking industry, especially its credit portfolio without any undue
influence from outside. It, however, functions in a reutilized, efficient, suitable and dynamic way to foster
progress, promote general welfare of the society and infuse its people to serve the nation. In corporate
governance, we strictly comply with the requirement of companies Act-1994, Bank Companies Act 1991,
rules and regulation of Bangladesh Bank and other regulatory authorities.
2.2 Management Structure:
JBL is managed by highly professional people. The present Managing Director of the bank is a forward
–looking senior banker having decades of experience and multi discipline knowledge to his credit both
at home and abroad. He is supported by an educated and skilled professional team with diversified
experience in fiancé and banking. The Management of the bank constantly focuses on the understanding
and anticipating customers’ needs and offer solution thereof. Jamuna Bank Limited has already achieved
tremendous progress within a short period of its operation. The bank is already ranked as one of the
quality service providers & known for its reputation.

2.2.1 Board of Directors:
Mr. Md. Ismail Hossain Siraji
Chairman
A. K. M. Mosharraf Hussain Engr. Md. Atiqur Rahman Mr. Golam Dastagir Gazi, Bir
Protik
Director Director
Director
Mr. Fazlur Rahman Al-Haj Nur Mohammed Mr. Md. Tazul Islam
Director Director Director
Mr. Robin Razon Sakhawat Mr. Redwan-ul Karim Ansari Mr. Md. Belal Hossain
Mr. Md. Mahmudul Hoque Mr. Shaheen Mahmud Mr.Md. Sirajul Islam Varosha
Mr. Kanutosh Majumder Mr. Gazi Golam Murtoza Mrs. Tasmin Mahmud
Mr. Md. Hasan Mr. Narayan Chandra Saha Mr. Chowdhury Mohammad
Mohsin
Director Independent Director
Independent Director
Mr. Md. Rafiqul Islam Mr. Shafiqul Alam
Independent Director Managing Director

2.2.2 Audit committee
In line with the guidelines of Bangladesh Bank, an Audit Committee of the Board of Directors has been
formed to assist the Board with regards to Audit and Internal Control system of the Bank.
Mr. Md. Rafiqul Islam

Independent Director & Chairman (AC)
Mr. Redwan -ul Karim Ansari

Director
Mr. Md. Belal Hossain

Audit
Director
committee
Mr. Md. Hasan
Director
Mr. Narayan Chandra Saha

Independent Director
Mem
2.2.3 Executive Committee
All routine matters beyond delegated powers of Management are decided upon by or routed through the
Executive Committee subject to ratification by the Board of Directors. The Chairman of this Committee
is being selected by rotation. Currently, the Executive Committee of Board of Directors is constituted
with the following members:
Mr. Gazi Golam Murtoza,Director & Chairman (EC)
Mr. Md. Ismail Hossain Siraji, Chairman (BOD)
Executive Engr. Md. Atiqur Rahman, Director
Committee Al-Haj Nur Mohammed, Director, JBL & Chairman,

JBF
Mr. Md. Tajul Islam, Director
Mr. Shaheen Mahmud,

Director
Mr. Kanutosh Majumder,
Director

2.2.4 Higher Management
Shafiqul Alam
Managing Director
Mirza Elias Uddin Ahmed

Additional Managing Director
Higher A. K. M. Saifuddin Ahamed,

Management Deputy Managing Director
Muhammad Shahidul Islam,

Deputy Managing Director
Md. Abdus Salam, Deputy

Managing Director
2.2.5 Risk Management Committee
Engr. A. K. M. Mosharraf Hussain

Director & Chairman(RMC)
Mr. Robin Razon Sakhawat

Director
Risk Mr. Md. Mahmudul Hoque

Management Director
Committee
Mr. Md. Sirajul Islam Varosha
Director
Mrs. Tasmin Mahmud

Director

2.2.6 Head of Division
Head of Division
Mr. Md. Ismail Hossain Siraji (Chairman)
Mamun Mahmud (H.R.) Md. Mukhlesur Rahman (Credit Admin)
Md. Ebtadul Islam (I.C.C.D) Faisal Ahsan Chowdhury (Corp. Banking)
Fazle Quayum (C.R. Management) Ahmed Newaz (ICT)
Ashim Kumar Biswas (Financial Admin) Ashif Khan (SME)
Md. Al Tamas (Merchant Banking) S. M. Asharf Uddollah (General Service)
Abdul Awal Khan (Law & Recovery) S. M. Jamal Uddin (Banking Operation)
Md. Shah Alam (Risk Mgt.) Anwar Hakim (Monitoring)
Md. Abdus Sobhan (NRB Banking) Md. Saiful Malik (Retail banking)
Md. Shamsur Rahman (International) Md. Mamtaz Uddin Chy. (Agri. Loan)
M. A. Rouf (Board Secretariat) Md. Mehedi Hasan (Treasury)
A. S. M. Humayun Kabir (Trade Finance) A. M. Ashraf-Uz-Zaman (Card)
Pratul Biswas (Treasury Bank office) Abdur Rahim (Trade Finance)
Saleh Kabir Chy (Anti Money laundering) Md. Ashaduzzaman (Islamic Banking)
Md. Nazmul Hassan (Offshore Banking) Noor Nabi Khan (Marketing & Dev.)
Quzi Md. Taraqul Akbar (Share) Md. Sarwar Matin (Pr. & Brand Comm.)

2.3 Organogram:

2.4 Corporate Vision, Mission & Motto
2.4.1 Vision:
To become a leading banking institution and to play a pivotal role in the development
of the country.
To stand out as a pioneer banking institution in Bangladesh.
To contribute significantly to the national economy.
2.4.2 Mission:
The Bank is committed to satisfying diverse needs of its customers through an array of
products at a competitive price by using appropriate technology and providing timely service so
that a sustainable growth, reasonable return and contribution to the development of the country
can be ensured with a motivated and professional work-force.
Jamuna Bank Limited aims to become one of the leading Banks in Bangladesh by prudence, flair
and quality of operations in their banking sector. The bank has some mission to achieve the
organizational goals. Some of them are as follows as:
Fast & accurate customer service and Innovative banking at competitive price.

High quality financial services with the help of latest technology.

Deep commitment to the society and the growth of national economy.

Attract and retain quality human resource, High standard business ethics.

Balanced growth strategy, Steady return on shareholders’ equity

2.4.3 Motto:
The bank will be of the following three interests:
Of the bank: Profit maximization and sustained growth

Of the client: Maximum benefit and satisfaction
Of the society: Maximization of welfare
2.5 Strategies of Jamuna Bank Ltd

To manage and operate the Bank in the most efficient manner to enhance financial
performance and to control cost of fund.
To strive for customer satisfaction through quality control and delivery of timely
services.
To identify customers' credit and other banking needs and monitor their perception
towards our performance in meeting those requirements.
To review and update policies, procedures and practices to enhance the ability to extend
better service to customers.
To train and develop all employees and provide them adequate resources so that
customers' needs can be reasonably addressed.
To promote organizational effectiveness by openly communicating company plans,

policies, practices and procedures to employees in a timely fashion.
To cultivate a working environment that fosters positive motivation for improved

performance
To diversify portfolio both in the retail and wholesale market
To increase direct contact with customers in order to cultivate a closer relationship

between the bank and its customers.

2.6 Objectives of Jamuna Bank Ltd
To earn and maintain CAMEL Rating 'Strong'
To establish relationship banking and improve service quality through development of

Strategic Marketing Plans.
To remain one of the best banks in Bangladesh in terms of profitability and asset
quality.
To introduce fully automated systems through integration of information technology.
To ensure an adequate rate of return on investment.
To keep risk position at an acceptable range (including any off-balance sheet risk).
To maintain adequate liquidity to meet maturing obligations and commitments.
To pursue an effective system of management by ensuring compliance to ethical norms,

transparency and accountability at all levels.
2.7 Offers of Jamuna Bank Ltd
Term loans specially to develop small scale enterprises and also attach special importance to
technical and advisory support in order to enabling them to run their enterprises successfully.
Full-fledged commercial banking services including collection of deposit, short-term trade

finance, working capital finance in processing and manufacturing units and financing and
facilitating international trade.
Technical support to Small Scale Industries (SSIs) in order to enable them to run their
enterprises successfully.
Micro Credit to the urban poor through linkage with NGOs with a view to facilitating their
access to the formal financial market for the mobilization of resources is another
diversification of our services.
In order to perform the above tasks, Jamuna Bank Ltd. works closely with its
Clients, the regulatory authorities, the shareholders (GOB), banks and other financial
institutions.

2.8 Corporate social responsibilities of Jamuna Bank
Jamuna Bank is the 3rd generation junior most bank. From the beginning, the bank is keen to serve the
society and welfare of the people as the corporate social responsibilities. To make effective contribution
by these CSR activities, the governing body of the bank established Jamuna Bank Foundation in the year
of 2007. The bank has appeared as a satisfactory bank to the central bank. Jamuna Bank every year spends
portion of its profit for backward people of the country.
CSR activities of Jamuna Bank foundation are:
Anti-drug Movement
Blood Donation Program
Medical college & Hospital along with free Eye camp and Dental camp
Scholarship giving ceremony
Providing free Treatment
Qirat competition
Relief distribution for Disaster affected people
Discussion on Significance of Ramadan & Lifestyle of Prophets
Blanket & Cloth distribution among cold-hit distressed people
Sewing Training Center
Establishment of Free Primary School
Providing Computer Training by Jamuna Bank Foundation

Tree Plantation & Distribution
Annual School Sports Day & Award-giving Ceremony
Donating in Nimtoli Tragedy
Donating for Development of Sports for the country
Monthly Donating for BDR Tragedy
Donating in Liberation War Museum

Chapter Three
Theoretical Overview of Foreign Trade Financing Of JBL

3.1 Introduction
International trade shapes our everyday lives and the world we live in. Nearly every time we make a
purchase, we are participating in the global economy. International trade is the system by which countries
exchange goods and services. Countries trade with each other to obtain things that are better quality, less
expensive or simply different from what is produced at home.
To buy foreign goods or services, or to invest in other countries, companies and individuals may need to
first buy the currency of the country with which they are doing business. Generally, exporters prefer to
be paid in their country’s currency or in U.S. dollars, which are accepted all to the world.
The procedures used to exchange currency in international trade are called foreign exchange system, banks
play vital roles in this procedures world widely. The Bangladeshi banks provide foreign exchange services
under, Foreign Exchange Act, 1947 is for dealing in foreign exchange business, and Import and Export
Control Act, 1950 is for Documentary Credits. JBL has also become a member of SWIFT (Society for
Worldwide Inter Bank Financial Telecommunication) in 2002, which provides a fast, secured & accurate
communication network for financial transactions such as letter of credit, fund transfer etc. As an authorized
dealer under regulations of BB, JBL provides the followings three type services under their foreign exchange
department.
Foreign Exchange
Department
Remittance
Import Services Export Services
Services

3.2 Foreign Currency Accounts offered by JBL
Following the liberalization of exchange controls Bangladesh Bank has authorized the banks to maintain
different types of foreign currency accounts and convertible Taka accounts. The following are the
regulations laid down by Bangladesh in respect of these accounts.
Branches of Jamuna Bank Limited may open Foreign Currency Accounts in the names of:
A. Bangladesh nationals residing abroad

B. Foreign nationals residing abroad and or Bangladesh and foreign firm operating in
Bangladesh or abroad.
C. Foreign missions and their expatriate employees.
Resident Foreign Currency Deposit (RFCD):
This is a foreign currency denominated account. Those who domicile in Bangladesh, but have to remit
money to abroad because of various reasons.
Non-Resident Foreign Currency Deposit (NFCD):
This is a foreign currency denominated account. Those who doesn’t domicile in Bangladesh, but have
to remit money to Bangladesh because of various reasons.
Requirements for opening RFCD Account:
Two copies of recent passport size photograph

Photocopy of passport
Photocopy of work permit
Salary certificate or employers certificate
For the Officers of Different Embassy, they need not to submit all these documents but the Employers
certificate is must.
Requirements for opening NFCD Account:
Photocopy of passport
Citizenship certificate if available
Certificate or approval from our authority for exporting manpower

A nominee or authorized person will be selected by the account holder for transactions.

Under this account the nominee will receive local currency TK against any Foreign currency.

3.3 Import Section of JBL

As an authorized dealer the major import items financed by Jamuna Bank Limited, are capital machinery,
Hot Roll Steel, reconditioned vehicles, auto spare parts and accessories, electronic equipment, rice,
wheat, seeds, polyolefin, cement clinkers, dyes, chemicals, raw cotton, garments accessories, fabrics,
cotton etc. To import, a person should be competent to be an ‘importer’. According to Import and Export
(Control) Act, 1950, the officer of Chief Controller of Import and Export provides the registration (IRC)
to the importer. After obtaining this, the person has to secure a letter of credit authorization (LCA) from
Bangladesh Bank. And then a person becomes a qualified importer. He requests or instructs the opening
bank to open an L/C.
3.3.1 Import procedures:
1. Registration with CCI & E

For engaging in international trade, every trader must be first registered with the Chief
Controller or Import and Export.
By paying specified registration fees and submitting necessary papers to the CCI & E. the trader
will get IRC (Import Registration Certificate). After obtaining IRC, the person is eligible to
import.
2. Purchase Contract between importers and exporter:
Now the importer has to contact with the seller outside the country to obtain the Performa
invoice/indent, which describes goods.
Indent is got through indenters, a local agent of the sellers.

After the importer accept the preformed invoice, he makes a purchase contract with the exporter
declaring the terms and conditions of the import.
Import procedure differs with different means of payment. In most cases import payment is made
by the documentary letter of credit (L/C) in our country.
3. Collection of LCA form:
Then the importer collects and Letter of Credit Authorization (LCA) from JBL authorized Branches.
4. Opening a Letter of Credit (L/C)
Bank provides guarantee to importer and exporter through Letter of Credit. Thus, the contract between
importer and exporter is given a legal shape by the banker by its ‘Letter of Credit’. The process of opening
L/C regarding to import through JBL, nominated branches are as following:
A. Interview of probable L/C opener:
At first in case of import L/C opening opener must give an oral interview to the responsible officers of
JBL. If the officer is satisfied with opener’s motive of import, type of import goods, quality of imported
goods and marketability of goods than they will give approval to opener to further steps.
B. Application for L/C limit:
Before opening L/C, importer applies for L/C limit. To have an import L/C limit, an importer submits an
application to the Department of JBL furnishing the following information-
1. Nature of business.
2. Required amount of limit.
3. Payment terms and conditions.
4. Goods to be imported.
5. Offered security.
6. Repayment schedule.
7. Full particulars of bank account maintained with JBL Authorized Branches

C. The L/C Application:
After getting the importer applies to the bank to open a letter of credit on behalf of him with required
papers. Documentary Credit Application Form:
Tax Identification Number Certificate.

VAT Registration Certificate.
Membership Certificate of recognized Trade Association as per IPO.
Proforma Invoice: It states description of the goods including quantity, unit price etc.
L/C Form: JBL provides a printed form for opening of L/C (JF-fx 13) to the importer. This form 
is known as Credit Application form. A special adhesive stamp is affixed on the form. While opening,
the stamp is cancelled. Usually the importer expresses his desire to open the L/C quoting the amount of
margin in percentage.

L/C authorization form (LCAF) duly signed by the importer.

The insurance cover note: The name of issuing company and the insurance number are to be
mentioned on it.

IMP form duly signed by the importer.

Forwarding for Pre-Shipment Inspection (PSI): Importer sends forwarding letter to exporter for
Pre-Shipment Inspection. But all types of goods do not require PSI.

• L/C • L/C
Applicant Beneficiary
(Buyer) (Seller)
Step Step
1 4
Step Step
2 3
• Advising /
• Issuing
Confirming
Bank
Bank

Figure: Flow Chart of LC Application

5. Time limit for opening L/C:
L/C (s) shall be open within 180 days from the date of issuance of LCAF or from the date of registration
of LCAF with Bangladesh Bank.


6. Terms of L/C:
Full description of the goods along with quantity and unit price to be incorporated in the L/C and shall
take all precautions to quote the correct H.S. Codes of the goods. Prices to be quoted on CER or FOB
basis according to the P/Invoice or Indent. No import shall be made on CIF basis without prior approval
from the Ministry of Commerce. All L/Cs should provide for payment to be made against full sets of on
board (shipped) transport documents drawn and/or endorsed to cover by the credit to a destination in
Bangladesh. All L/Cs must specify submission of signed invoices, certificates of origin & pre-shipment
Inspection Certificate. L/Cs shall also incorporate any other documents, which are mandatory specified
for those commodities in the IPO/Public Notices/Bangladesh Bank Circulars. It is not permissible to open
import L/Cs in favor of beneficiaries or to use shipping carriers of the countries from which import into
Bangladesh are banned by the competent authority.

7. Shipment Validity & Expiry:
All L/Cs must specify shipment validity as per terms of the P/Invoice or indent or L/C application.
However, shipment validity under any circumstances shall not exceed 9 (nine) months from the date of
issuance of LCAF or registration LCAF with Bangladesh Bank excepting capital machinery and spare
parts shipments of which shall be made within 17 (seventeen) months. All L/Cs must stipulate an expiry
date and a place for presentation of documents for payment/acceptance.
8. Transmission of L/C to Beneficiary through Advising Bank:
In this step the transmission of L/C is done through tested telex or fax to advise the L/C by JBL to the
advising bank. The advising bank verifies the authenticity of the L/C. JBL has corresponding relationship
or arrangement throughout the world by which the L/C is advised. Actually, the advising bank does not
take and liability if otherwise not requested.
9. Presentation of the Documents:
The seller being satisfied with the terms and the conditions of the credit makes shipment of
the goods as per L/C terms.
After making the shipment of the goods in favor of the importer the exporter submits the
documents to the negotiating bank.
After receiving all the documents, the negotiating bank then checks the documents against the
credit. If the documents are found in order, the bank will pay, accept or negotiate to JBL.
JBL, Authorized Branches & bank received seal to be affixed on the forwarding schedule.
JBL, Authorized Branches crossed the bill of exchange & transport documents immediately
to protects loss or fraudulent.
JBL checks the documents. The usual documents are,
Bill of Exchange
Invoice
Bill of lading or Airways bills
Certificate of origin

Packing list
Weight list
Shipping advice
Non-negotiable copy of bill of lading
Pre-shipment inspection report
Shipment certificate.
10. Lodgment of Documents:
If the documents are found in order or the discrepancies in the document if any, subsequently accepted
by the applicant, the branch will record the particulars of the documents in the PAD Register (JB fx-06)
11. Retirement of Documents:

JBL advise Importer about the date of lodgment of documents with full particulars of shipment to retire
the documents against payment or to dispose the import documents as per prearrangement, if any.
Subsequent reminders (JF fx-06) are also to be issued every week till retirement of the bill. Such bills
will be considered and be reported as overdue if the importer fails to retire the documents within 21 days
of arrival of the relative import consignments at the port of destination.
12. Endorsement of Non-Negotiable Copy
Documents: For clearance of cargo:
In the event of non-receipt of import documents relating to goods, which have already reached the port,
the customer may ask the bank to provide a Shipping Guarantee/NOC to enable them to clear the goods,
form the customers. The Shipping Guarantee may be given on the basis of a written undertaking from
the clients by JBL. The S/G should state, inter alias, that he will in due course accept the original
documents in spite of discrepancies, if any and bear the exchange loss on account of fluctuation of
exchange rates between the dates of guarantee to actual date of lodgment of original documents, when
received.
JBL, Authorized Branch will check the non-negotiable copy documents with the L/C terms and
make entries of particulars of copy documents in the Shipping Guarantee Issue Register.
JBL, Authorized Branch will recover Taka equivalent of F.C value of N/N copy documents and
charges from the customer.

JBL, Authorized Branch will ensure return back of the shipping indemnity/guarantee from the
shipping company by delivering original shipping documents to the importer after receipt of
original documents from the payee bank.
JBL, Authorized Branch will mark cancellation on the shipping indemnity/guarantee returned by
the shipping company through the importer and file it in the respective L/C file.
For customer Assessment Purpose:
At the request of the importer, JBL, Authorized branch may endorse Non-negotiable copy documents for
custom assessment purpose. The branch will certify the value of F.C on the copy invoice and also certify
the copy transport documents under single authorized signature. Endorsement charge is to be realized as
per schedule of charges of the bank.
13. Amendments:
The JBL, Authorized Branch may allow amendments to the L/Cs only upon requests of the L/C applicants
that do not violate foreign exchange regulations and import control regulations. Necessary charges and/or
margin (where L/C value is increased by subsequent amendments) also to be realized/recovered from the
customer before amending the L/Cs.
14. Cancellation of L/Cs:
An irrevocable L/C cannot be cancelled without the agreement of the beneficiary and the confirming
bank, if any.
The JBL, Authorized branch at the request of the importer may approach the L/C advising bank for
cancellation of the L/C and such cancellation will only be effective upon consent of the beneficiary
advised to the branch through the L/C advising bank. However, the JBL, Authorized branch may cancel
the L/C without the consent of the beneficiary. Advising bank and confirming bank, if any, if the L/C
expires and the JBL, Authorized branch receives no shipping documents within 15 days of expiry of the
L/C. The branch should send a message to the concerned bank advising such cancellation and closure of
L/C file due to expiry of the same. The JBL then cancels the Reimbursement Authorization, which has
been provided to the Reimbursement Bank while opening the L/C. The branch will reverse L/C contra
liabilities, refund margin and recover charges from the L/C applicant as per schedule of charges.

3.3.2 Import Financing by JBL:
A. Payment against Document (PAD):
The JBL, Authorized branch starts PAD procedure after getting all documents from the exporter
of importer as evidence of exporting goods. Documents required for PAD is mentioned below:
Original (Non-negotiable) bill of Lading.

Commercial Invoice.
Certificate of Insurance.
Certificate of Origin.
Bill of exchange.
Pre-shipment Inspection Certificate.
Packing List.
Clean Report of Findings (CRF).
B. Loan against Trust Receipt (LTR):

Under this LTR, Loan is allowed by JBL only to first class importers. Here only on the basis of trust
without paying JBL anything or a partial amount, the importer takes the documents. Then importer is
allowed 60-90-day time to make payment
C. Loan against Imported Merchandise (LIM):

The imported goods come to the port the party may fall into financial crisis and requests JBL to clear the
goods from the port making payment to the exporter. In this case the party later may take the goods partly
or fully from JBL by making required payment (if he/she takes the goods time-to-time payment will be
adjusted simultaneously).

3.4 Export section of JBL:
3.4.1 Export Procedures:
The import and export trade in our country are regulated by the Import and Export (Control) Act, 1950.
Under the export policy of Bangladesh the exporter has to get valid Export Registration Certificate (ERC)
from Chief Controller of Import & Export (CCI&E). The ERC is required to renew every year. The ERC
number is to incorporate on EXP forms and other papers connected with exports. JBL mainly handles
export of readymade garments, jute goods, leather, plastic scrap, handicrafts etc. The following process
must be passed by an exporter to open a documentary credit in JBL, Authorized branch:
1. Registration of Exporters: For obtaining ERC, intending Bangladeshi exporters are required to apply
to the controller/ Joint Controller/ Deputy Controller/ Assistant Controller of Imports and Exports,
Dhaka/ Chittagong/ Rajshahi/ Mymensingh/ Sylhet/ Comilla/ Barishal/ Bogra/ Rangpur/ Dinajpur in the
prescribed form along with the following documents:
Nationality and Asset certificate.
Memorandum and Article of Association and Certificate of incorporation in case of Limited
company.
Bank certificate.
Income tax certificate.
Trade license etc.
2. Securing the Order: After getting ERC Certificate the exporter may proceed to secure the export
order. He can do this by contacting the buyers directly or through agent. In this purpose the exporter may
get help from:
License Officer
Buyer’s Local Agent
Export Promoting Organization
Bangladesh Mission Abroad
Chamber of Commerce (local & foreign)
Trade Fair etc.

3. Signing the Contract: After communicating buyer, exporter has to get contracted (writing or oral)
for exporting exportable items from Bangladesh detailing commodity, quantity, price, shipment,
insurance and marks, inspection and arbitration etc.
4. Receiving Letter of Credit: After getting contract for sale, exporter should ask the buyer for Letter
of Credit (L/C) clearly stating terms and conditions of export and payment.
The following are the main points to be looked into for receiving/ collecting export proceeds by means
of Documentary Credit:
The terms of the L/C are in conformity with those of the contract;
The L/C is an irrevocable one, preferably confirmed by the advising bank;
The L/C allows sufficient time for shipment and negotiation.
Terms and conditions should be stated in the contract clearly in case of other mode of payment:
Cash in advance;
Open account;
Collection basis (Documentary/ Clean).
5. Procuring the materials:
After making the deal and on having the L/C opened in his favor, the next step for the exporter is to set
about the task of procuring or manufacturing the contracted merchandise.
6. Shipment of goods:
Then the exporter should take the preparation for export arrangement for delivery of goods as per L/C
and incomer’s, prepare and submit shipping documents for Payment/ Acceptance/ Negotiation in due
time.
Documents for shipment:

EXP form.

ERC (valid)
L/C copy
Customer duty certificate.
Shipping instruction
Transport documents
Insurance documents
Invoice
Other documents
Bill of exchange (if required)
Certificate of origin
Inspection certificate
Quality control certificate
GSP certificate

7. Documents submission:
In this step exporter who confined with JBL will prepare export related documents and submit those
documents to JBL, foreign exchange authorized branch for negotiation. According to those documents
JBL collects proceeds from the former issuing banks.

3.4.2 Export Financing by JBL:


Financing exports constitutes an important part of a bank’s activities. Exporters require financial services
at four different stages of their export operation. During each of these phases exporters need JBL provides
different types of financial assistance depending on the nature of the export contract are as follows:
I. Pre-shipment credit
II. Post shipment Credit
Pre-shipment Credit:
Pre-shipment credit, as the name suggests, is given to finance the activities of an exporter prior to the
actual shipment of the goods for export. JBL provides different type of Pre-shipment credit to its worthy
customers for the following purposes:

Cost of production or purchase
Packing including any special packing for export
Cost of special inspection or test required by the exporter
Internal transport cost
Port, Customs and Shipping agent’s costs
Freight and insurance charges if the contract is either C&F or a CIF contract and
Export duty or tax etc.
For Pre-shipment finance JBL, authorized foreign exchange branch must consider the following factors
related to exporters such as:
Honesty, integrity and capital of the borrower

Exporter experience in the line
Security offered
The margin and the rate of interest
The banks previous experience about the exporter
The standing of the foreign buyer
JBL provides facilities to extend Pre-shipment credit for contracts made on the basis of cables/fax/telex
provided the following minimum information is available
Details regarding customers
Particulars of the items
Quantity and unit price
Terms of sales and payment and
Date of shipment

An exporter can obtain credit facilities against lien on the irrevocable, confirmed and unrestricted export
letter of credit in form of the followings from JBL, but PC and BTB L/C is most common form of pre-
shipment of credit provided by JBL:

Export cash credit (Hypothecation)
Export cash credit (Pledge)
Export cash credit against trust receipt.
Packing credit.
Back to back letter of credit.
Post shipment credit:

This type of credit refers to the credit facilities extended to the exporters by the banks after shipment of
the goods against export documents. Before extending such credit, it is necessary for JBL to look into
carefully the financial soundness of exporters and buyers as well as other relevant documents connected
with the export in accordance with the rules and regulations in force. JBL provides following post
shipment credit to the exporters through:
Foreign documentary bill purchase
Advances against export bills surrendered for collection
Foreign documentary bill purchase(FDBP):

Most of the client submits the bill of export to bank for collection and payment of the BTB L/C. In that
case, JBL purchases the bill and collects the money from the exporter. JBL subtracts the amount of bill
for PC and BTB payment and gives the rest amount to the client in cash or by crediting his account or by
the pay order.
For this purpose, JBL maintains a separate register named FDBP Register. This register contains the
following information:
Date


Reference number (FDBP)

Name of the drawee

Name of the collecting bank

Conversion rate

Bill amount both in figure & in Taka.

Export form number

Export L/C number
Advances against Export Bills surrendered for collection:

JBL also accept bills for collection of proceeds when they are not drawn under an L/C or when the
documents, even though drawn against an L/C contain some discrepancies. JBL generally negotiates bills
drawn under L/C, without any discrepancy in the documents, and the exporter gets the money from the
bank immediately. However, if the bill is not eligible for negotiation, the exporter may obtain advance
from JBL against the security of export bill. In addition to the export bill JBL generally ask for collateral
security like a guarantee by a third party and equitable/registered mortgage of property.
3.5 Foreign remittance
Foreign remittance means remittance of foreign currencies from one place/persons to another
place/person. In broad sense, foreign remittance includes all sale and purchase of foreign currencies on
account of Import, Export, Travel and other purposes. However, specifically foreign remittance means
sale & purchase of foreign currencies for the purposes other than export and import. As such, this chapter
will not cover purchase & sale of foreign currencies on account of Import & Export of goods.

On March 24, 1994 Bangladesh Taka was declared convertible for Current Account International
Transaction. As a prelude to this wide-ranging reform were made in the country’s foreign exchange
regime to lay the ground for a market friendly environment to induce investment, growth and
productivity. Following liberalization under convertibility, most remittances are now approved by the
Authorized Dealers themselves on behalf of the Central Bank. Only a few remittances of special nature
require Bangladesh Bank’s prior approval.
3.5.1 Foreign Remittance Section of JBL

Foreign exchange department of JBL, foreign exchange authorized branch is responsible to deal with
outward and inward remittance other export and import only when remittance is in foreign currency. JBL
has already made foreign remittance arrangement with money gram, Western Union, Ria, Transfast,
Valuetrans, Aftab currency etc.
Workings of this department:

Overall supervision of Foreign Remit. Dept.
Foreign TT payments & Purchase of F. Drafts, preparations of F.B.P. (Foreign Bill Purchased).
Issuance of outward TT & FDD.
Issuance of proceed responding certificate (PRC).
Foreign Collection, Bangladesh Bank Clearing Check Collection, which comes from all branch
of JBL.
Withdrawal from F.C. A/C.
Encashment of T.C. & Cash Dollar and Sterling Pound.
Deduction of Tax and VAT. On behalf of Bangladesh Bank.
Preparation of related statements including convertible Taka Accounts.
Preparation of IBCA & IBDA and Balancing of Collection and other special assignment as
desired by Department in charge.
Balancing of Account Statements.
Compliance of audit & inspection.
Statement of all related works submitted to Bangladesh Bank.

All foreign remittance transactions are grouped into two broad categories of remittance i.e. Outward
remittance & Inward remittance. As an AD JBL foreign exchange department focuses on these two
sources of remittance.
3.5.2 Outward Remittance of JBL:
The term “Outward remittances” include not only remittance i.e. sale of foreign currency by TT, MT,
Drafts, Traveler’s cheque but also includes payment against imports into Bangladesh & Local currency
credited to Non-resident Taka Accounts of Foreign Banks or Convertible Taka Account. The main three
types of outward remittance find JBL are as follows:
Private Remittance
Fiscal & Business Travel
Commercial Remittances
3.5.3 Inward remittance of JBL:

The term” Inward Remittance” includes not only purchase of Foreign Currency by TT, MT, drafts etc.
but also purchases of bills, purchases of Traveler’s cheques. The main two sources of inward remittance
are proceeds realized from export process and also a strong source Bangladeshi workers remittance from
abroad.

Chapter Four
Findings and Analysis

4.1 Import Department:
4.1.1 Amount of total import of JBL, Agrabad Branch

No. Year Amount in BDT (Crore)
1. 2017 398
2. 2016 323
3. 2015 240
4. 2014 222
Total Import(2014-17)
450
400
350
300
250
200
150
100
50
0
2014 2015 2016 2017
Total import
Interpretation:
Here we see an upward trend in the total amount of import from 2014-2017. Bangladesh is an import-
oriented country. For the immense demand of import, JBL provides best services to the financing of
import which leads the bank to become an ideal medium for the financing the import business.

4.1.2 Sector wise amount of import:
**BDT in Crore
Products 2014 2015 2016 2017 Client
Reconditioned vehicles
95 132 105 120 6
Crude oil ……… …….. 85 105 1

Tobacco 15 25 30 40 1
Auto spare parts and10 11 9 16 2
accessories
Hardwire and tools 34 22 35 42 4
Garments accessories
65 44 39 50 3
Furniture ….. …. 12 15 2
Plastic raw material 3 6 8 10 1
Sector wise Import 2017
Reconditioned vehicles Crude oil Tobacco

Auto spare parts and accessories Hardwire and tools Garments accessories
Furniture Plastic raw material

No. Client’s name Sectors
1. Best Machineries Reconditioned vehicles
2. Bright Trading
3. Ilma Enterprise
4. M B Builders
5. N K Corporation
6. Quality Impex
7. Standard Asiatic Oil Co. Ltd. Crude oil
8. Abul Khair Tobacco Ind. Ltd. Tobacco
9. A H Enterprise Auto spare parts and accessories
10. Rahim Automobile
11. M R Traders Hardwire and tools
12. M N K Suppliers
13. Merino Trade
14. Sonia Trading Co.
15. Alam and Brothers Furniture Mart Furniture
16. United Brother’s
17. Premier Accessories Ltd. Garments accessories
18. Stitch Tone Apparels Ltd.
19. Mellow Fashion Ltd.
20. Crown Freight International Plastic raw material

4.1.3 Earning from import financing:
**BDT in Crore
No. Sources of income 2017 2016 2015 2014
1. Commission on L/C 3.20 2.60 1.92 1.8
2. Interest on LTR 20.90 16.9 12.6 11.65
3. Service charge 0.04 0.04 0.04 0.04
4. Total 24.14 19.54 14.56 13.49
Earning from import financing(2014-2017)

30
25
20
15
10
0
2014 2015 2016 2017
Commission on L/C interest on LTR Service charge
Interpretation:
Here we see an upward trend in the earning from import financing activities of the branch as the total
import business held by the branch is also upward trending.

4.2 Export department of JBL, Agrabad Branch
4.2.1 Total amount of export and earnings

**BDT in Crore
No. Year Total Export Total Earning

1. 2017 151.25 22.69
2. 2016 145.03 21.75
3. 2015 130.45 19.57
4. 2014 121 18.15
Total export and earnings (2014-17)

160
140
120
100
80
60
40
20
0
2014 2015 2016 2017
Total Export Total Earnings
4.3 Porter’s five forces model analysis

Porter’s five forces model is a simple but powerful tool for understanding the competitiveness of a
business environment, and for identifying strategies to ensure potential profitability. It is very useful
because it helps to understand the forces of the industry’s environment that can affect the profitability.

According to this understanding company can make proper strategies. Now we will try to portray porter’s
five forces model on banking industry of Bangladesh and Jamuna Bank Ltd.
1. Rivalry among existing competitors:
This force is the major determinant on how competitive and profitable an industry is. In competitive
industry, firms have to compete aggressively for a market share, which results in low profits. Rivalry
among existing competitors for Banking Sector in Bangladesh is high. Because the competitors are strong
enough to catch the new customer with suitable area. For following reasons, the competitive rivalry is
high in banking industry of Bangladesh:
Too many players of same size

Players have same strategies
Less product differentiation and price competition.
Low market growth rate
Barriers for exit are high
Figure: Porter’s five forces analysis of banking industry and Jamuna Bank Ltd.

2. Threat of new entrants:
Banking Sector is more profitable and there are many barriers to enter. When more organizations
compete for the same market share, profits start to fall. It is essential for existing organizations to
create high barriers to enter to deter new entrants. Threat of new entrants for banking sector is medium
because-
Government licensing and BB regulations.

Political consideration for the approval of opening new bank.
High initial investment: 400cr BDT.
Skilled manpower.
Protected intellectual property.
The entry of foreign bank
3. Bargaining power of suppliers:
Strong bargaining power allows suppliers to sell higher priced or low quality raw materials to their
buyers. This directly affects the buying firms’ profits because it has to pay more for materials.
Bargaining power of suppliers for banking sector is low. Because Bangladesh bank imposes the
regulation. Branches do not get the all access power. Head office controls the branches.
4. Bargaining power of buyers:
Buyers have the power to demand lower price or higher product quality from industry producers when
their bargaining power is strong. Lower price means lower revenues for the producer, while higher
quality products usually raise production costs. Both scenarios result in lower profits for producers.
Bargaining power of buyers for banking sector is low. Customers have not power to change the rules
and regulation. Interest rate and Charges are always set by the bank.

5. Threat of substitutes:
This force is especially threatening when buyers can easily find substitute products with attractive
prices or better quality and when buyers can switch from one product or service to another with little
cost. Threat of substitutes for banking sector is medium. Because the banks have the huge demand
for customer to fulfill the demand. Moreover –
Lots of NBFC are investing to grab the shortcomings of bank industry.

Close customer relationship
Conservative customers.
Switching cost.

4.4 SWOT Analysis
SWOT Analysis is the analysis of strength, opportunity and threat of any product or service. Of these
four important aspects the first two are related with the internal environment of the company and the last
two i.e. opportunity and threat are related with the external environment of the company. Both
manufacturing and service-oriented business organizations start to possess some weakness as time elapse.
The weaknesses of an organization can be turned into opportunities if recognized on time. Moreover,
overlooking any threat may result in loosing valuable business opportunities. For this reason, an
assessment of every business organization is required to judge the performance from the aspects of its
Strength, Weaknesses, Opportunities and Threat (SWOT). Here, a has been made to draw a SWOT
analysis on JAMUNA BANK LIMITED.
Strengths Weakness
1. Personal Care 1. Lack of advertisement.
2.Relationship Banking 2. Limited market share
3. Smart environmnt with modern thinking 3. Exposure to large loan
3. Eagerness to listen customer's objetion 4. Excessive dependency on term deposits
4. Regular traing process 5. Weak fund management
5. Reliability 6. High cost of fund
6. Experienced Top Management 7. Charges for delivering statement
7. Satisfatory capital base
SWOT
Analysis
Opportunities Threats
1. Regulatory environment favoring private 1. Increased competition in the market for
sector development quality asset.
2. Credit card 2. Supply gap of foreign currency
3. Good relation with customers 3. Over liquidity crises in money market
4. Strong network infrastructure 4. Negative attitude of customers.
5. Locker service 5. Rules and regualtions of Bangladesh Bank

Chapter Five
Recommendations & Conclusion

Recommendations:
Though Jamuna Bank Limited tries to give the best customer support, they have some lacking compare
to other bank of the same generation. The recommendations for this report are:
➢ The authority should recruit more employees to serve the customers. The can recruit experienced
employee as well as fresh graduate.
➢ The bank should reduce their minimum balance to attract more customers.
➢ Jamuna Bank Limited should offer international credit card, because in modern world the use of
increasing paper currencies is decreasing.
➢ Beside social work the bank has to be more serious to get better position in CAMEL rating.
➢ The bank should open more branches in remote area so that they can serve the marginal people.
➢ The bank can open branches or foreign booth because many people send money from abroad
every year to Bangladesh.
➢ The marketing department of the bank should more efficient to reach at the heart of the customer.
➢ For the success of any organization, employee satisfaction is one of the most important factor and
JBL authority have to look about it.
➢ The IT equipment (Printer, Telephone, Software, UPS etc.) of the branch became obsolete. So
modern equipment should be installed immediately.
➢ Branch should ask for IT executives from Head office as there is no IT expert.
➢ The Bank should give more concentration of foreign remittance to increase profit from the
remittance. Though the remittance performance of JBL for the last year was very bad so the
performance and profit should be increase year by year.
➢ The export business of the bank is on an increasing inclination. So, the bank should try to keep
the pace of growth.
In over all foreign exchange earnings, remittance contributes a small portion only 10-13%. More than
50% comes from import business. Bank should try to increase earning from export. It should concentrate
more effort to improve export earnings and remittance earnings for our economy.

Conclusion
From the beginning of greater change in the world economic structure, Jamuna Bank Limited is trying to
develop banking sector through welfare and servicing to the people. Jamuna Bank Ltd is committed
towards the excellence in the service with efficiency, accuracy and proficiency. Jamuna Bank, being a
bank of twenty first century, is also extending such contributions as to the advancement of the
socioeconomic condition of the country. Like of most of the commercial banks, foreign exchange
department is one of the most important departments of Jamuna Bank Ltd. Perhaps, it is the most
important department of the Bank. This department is driving the bank from the front.
JBL actively takes place in foreign exchange especially in export and import. Every year bank earns a lot
of money by issuing letter of credit and its growth rate increases at a cumulative rate.
Through the import, export and foreign operations, this department is making a great contribution to the
bank and the economy as a whole. In this study it is found that JBL has reached the position by its
commitment, people’s love and dedicated human resource. Jamuna has been shown supremacy in all kind
of banking operations in our country.
The competent management of Jamuna Bank Limited should come forward to pragmatic strategic
decision like-easy procurement, one stop service, and time service customers’ services with sufficient
logistics supports for future betterment of the bank. Despite problems and weaknesses, therefore, it is
better for Jamuna Bank Ltd to think about their existing steps and take the necessary initiatives to fix up
the problems and imply the recommended steps to be successful and become the market leader in near
future.
To conclude I must say that Jamuna Bank Limited has immense potential in Bangladesh. It can play vital
role in bringing revolutionary changes in our life with both material and moral world and in individual
and collective level.

References:
1. Procedure of IRC & ERC [WWW] Office of the Chief Controller of Imports & Exports. Available from:
http://www.ccie.gov.bd/index.php?cmd=about_ccie&id=10
2. Board of Investment Bangladesh. Available from: http://www.boi.gov.bd/
3. Bonded Warehouse Facilities; Customs Bond Commissionerate. Available from: http://www.cbc.gov.bd/
4. Annual Report Jamuna Bank Limited. Available from:

http://www.jamunabankbd.com/front/information/13/46
5. Short History of Banking [WWW] Board of Investment Bangladesh. Available from:

http://www.boi.gov.bd/index.php/investment-climate-info/finance-and-banking#short-history-of-banking
6. Jamuna Bank Limited. Available from: http://jamunabankbd.com
7. LCAF; Bank, Banker & Banking. Available from: http://bankbankerbanking-bd.com/2016/08/22/lcaf/
8. Begum, F. (2017) Export Development Fund for non-traditional exports [WWW] The Financial Express.
Available from: http://www.thefinancialexpress-bd.com/
9. Guidelines for Foreign Exchange Transactions [WWW] Foreign Exchange Policy Department,
Bangladesh Bank. Available from: http://www.bangladesh-
bank.org/aboutus/regulationguideline/gudforextransvol2.pdf
10. Bangladesh Electronic Funds Transfer Network (BEFTN) [WWW] Bangladesh Bank. Available from:
http://www.bangladesh-bank.org/fnansys/paymentsys/eft.php

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FOREIGN TRADE FINANCING: A STUDY ON JBL, AGRABAD BRANCH 1

FOREIGN TRADE FINANCING: A STUDY ON JBL, AGRABAD BRANCH 2

1.3 Objective of the study

Objectives of the study are summarized in the following manner.

To apply theoretical knowledge in the practical field.

FOREIGN TRADE FINANCING: A STUDY ON JBL, AGRABAD BRANCH 3

FOREIGN TRADE FINANCING: A STUDY ON JBL, AGRABAD BRANCH 4

FOREIGN TRADE FINANCING: A STUDY ON JBL, AGRABAD BRANCH 5

FOREIGN TRADE FINANCING: A STUDY ON JBL, AGRABAD BRANCH 6

started its operation from 3rd June 2001.

FOREIGN TRADE FINANCING: A STUDY ON JBL, AGRABAD BRANCH 7

2.2 Management Structure:

FOREIGN TRADE FINANCING: A STUDY ON JBL, AGRABAD BRANCH 8

Mr. Md. Ismail Hossain Siraji

Director Director Director

Director Director Director

Mr. Md. Rafiqul Islam Mr. Shafiqul Alam

Independent Director Managing Director

FOREIGN TRADE FINANCING: A STUDY ON JBL, AGRABAD BRANCH 9

Mr. Md. Rafiqul Islam

Mr. Redwan -ul Karim Ansari

Mr. Md. Belal Hossain

Mr. Narayan Chandra Saha

2.2.3 Executive Committee

Mr. Gazi Golam Murtoza,Director & Chairman (EC)

Mr. Md. Ismail Hossain Siraji, Chairman (BOD)

Executive Engr. Md. Atiqur Rahman, Director

Committee Al-Haj Nur Mohammed, Director, JBL & Chairman,

Mr. Md. Tajul Islam, Director

Mr. Shaheen Mahmud,

FOREIGN TRADE FINANCING: A STUDY ON JBL, AGRABAD BRANCH 10

Mirza Elias Uddin Ahmed

Higher A. K. M. Saifuddin Ahamed,

Muhammad Shahidul Islam,

Md. Abdus Salam, Deputy

2.2.5 Risk Management Committee

Engr. A. K. M. Mosharraf Hussain

Mr. Robin Razon Sakhawat

Risk Mr. Md. Mahmudul Hoque

Mrs. Tasmin Mahmud

FOREIGN TRADE FINANCING: A STUDY ON JBL, AGRABAD BRANCH 11

Mamun Mahmud (H.R.) Md. Mukhlesur Rahman (Credit Admin)

Md. Ebtadul Islam (I.C.C.D) Faisal Ahsan Chowdhury (Corp. Banking)

Fazle Quayum (C.R. Management) Ahmed Newaz (ICT)

Ashim Kumar Biswas (Financial Admin) Ashif Khan (SME)

Md. Al Tamas (Merchant Banking) S. M. Asharf Uddollah (General Service)

Md. Shah Alam (Risk Mgt.) Anwar Hakim (Monitoring)

M. A. Rouf (Board Secretariat) Md. Mehedi Hasan (Treasury)

A. S. M. Humayun Kabir (Trade Finance) A. M. Ashraf-Uz-Zaman (Card)

Pratul Biswas (Treasury Bank office) Abdur Rahim (Trade Finance)

FOREIGN TRADE FINANCING: A STUDY ON JBL, AGRABAD BRANCH 12

FOREIGN TRADE FINANCING: A STUDY ON JBL, AGRABAD BRANCH 13

FOREIGN TRADE FINANCING: A STUDY ON JBL, AGRABAD BRANCH 14

The bank will be of the following three interests:

Of the bank: Profit maximization and sustained growth

2.5 Strategies of Jamuna Bank Ltd

To promote organizational effectiveness by openly communicating company plans,

To cultivate a working environment that fosters positive motivation for improved

To diversify portfolio both in the retail and wholesale market

To increase direct contact with customers in order to cultivate a closer relationship

FOREIGN TRADE FINANCING: A STUDY ON JBL, AGRABAD BRANCH 15