Chapter - 1

"INTRODUCTION”
1.1 BACKGROUND OF THE REPORT
Bank is an important financial organization to build the economy of a certain country.
Globalization or free market economy is now the world major challenge. Banks are key
financial institution that they play a vital role in the country’s economy and core of the
payment system. As a student of Bachelor of Business Administration (BBA) everyone
has to conduct a practical orientation in any organization for fulfilling the requirement of
the 3 month internship program. The main purpose is to expose the student to real world
situation. As a part of the internship program of BBA course requirement , I assigned the
to do may internship in Bank Asia Limited, Sylhet Main Branch,60 Niloy Dargah Gate,
Airport Road, Sylhet for the period of 3 month starting August 10 to November 10, 2017.
This report has been prepared in the light of practical as well as theoretical knowledge on
the topic, "General Banking Activities of Bank Asia Ltd."-Sylhet Branch.

1.2 SIGNIFICANCE OF THE REPORT

In the competitive global era, classroom education only serves to boost a graduate into a
profession by conferring a degree but internship program makes the theories and learned
examples concrete by placing the student in a real life work situation performing actual
professional tasks, which the job encompasses. For this internship report has made
compulsory for all Business graduates of Metropolitan University. As a part of the BBA
program, all the students of this university have to experience an internship program with
a purpose of gaining practical understanding about modern business world. The program
covers a period of three months of organizational attachment. After the completion of
internship program, each student has to submit an internship report mentioning the
activities performed and learned during the internship period.

1.3 OBJECTIVES OF THE STUDY

The core objective of this study is to gain realistic and practical understanding about
banking structure and activities. The broad objective and specific objectives of the study
are given below:
Broad objective:
The broad objective of this study is to be familiar with the working environment of
present institutions, know the internal culture of the corporate world and fulfill the
requirements of BBA theoretical knowledge gained from the course work of the BBA

program in a specific field.

Specific objectives:

To understand and analyze the overall activities of Bank Asia Limited.

To evaluate the existing activities and techniques of Bank Asia Limited.

To study the operational efficiency of Bank Asia Limited.

To suggest the way and means for improvement on policy and techniques.

To relate the theoretical learning with the real life situation.

To gain knowledge about the activities and functions of General Banking: account
opening, accounts section, cash handling.

1.4 SCOPES OF THE STUDY

Worldwide economic situation continued to pose adverse impact on most developing

countries including Bangladesh challenging the possibility of registering a positive
growth. Banking system holds a significant position in a nation’s economy. It plays a
crucial role in the economic advancement of a country and shapes the central part of
fiscal market in a highly developed country. Bank Asia Limited is doing a formidable job.
So far researchers have a very specific scope to overview the whole system. The banking
sector continued to make remarkable profit in the 2002.

The report covers the background, functions and mostly the General Banking part of
Bank Asia Limited. The preparation of this report offers a great opportunity to have an in-
depth knowledge of banking activities practiced by the branch. This report has been made
based on the experience gathered during the period of 3 months’ internship. It was a huge
opportunity for me to practically learn and execute the entire process of General Banking
activities.
1.5 METHODOLOGY

This part of the report contains which data sources I have used to gather all the related
information about Bank Asia Limited and their activities. There are two types of data
sources:

 Primary data

 Secondary data.

Primary data:


Discussion with the officials of Bank Asia Limited.


Informal interview and individual conversation with employees.


Face to face conversation with the clients.


Direct involvement in the General banking activities of the bank.

Personal observation on the procedure of banking activities.

Secondary data:


Annual report of Bank Asia Limited [2013, 2014, 2015,2016]


Brochures, Manual and publications of Bank Asia.


Online data from the website of Bank Asia Limited.


Relevant Journals and research papers.

1.6 LIMITATIONS OF THE STUDY

It was a nice experience for me as an intern at Bank Asia Limited. The entire employees
from top to bottom level were very helpful. But I have faced some limitations for
preparing this report. These are as follows:
 As an intern it was difficult for me to collect information about the bank`s internal
policies.
 It was very difficult to collect information from various personal for their jobs
constraint.
 Employees are so much busy with their regular activities. So they cannot provide
enough time for discussion.
 Lack of availability of information and data, as in many cases updated data were
not available.
 Some of the officers were less interested to respond to my questionnaire.
 Chapter-2
"OVERVIEW OF BANKING INDUSTRY"
2.1 INTRODUCTION

Banks are among the most important financial institution in the economy. Banks are the
financial intermediaries that collect money from surplus spending individual and
institutions (whose current income exceeds their current expenditure and they have
surplus funds to save and invest) and loan this fund to the deficit spending individuals and
institutions (whose expenditure on consumption and investment exceeds their current
income and who therefore need to raise fund externally through borrowing).
Banking has changed in many ways through the years. Banks today offer a wider range of
products and services than ever before, and deliver them faster and more efficiently. But
bank’s prime function remains as it has always been. In Bangladesh banks are the first
choice for saving, borrowing, and investing their money.

2.2 DEFINITION OF BANK

A bank is a financial institution that accepts deposits from the public and creates credit.
Lending activities can be performed either directly or indirectly through capital markets.
Bank can be called as an establishment authorized by a government to accept deposits,
pay interest, clear checks, make loan, act as intermediary in financial transactions and
provide other financial services to its customer.
Bank is a financial institution that accepts the surplus money of the people in the form of
deposit and gives it to other form of loans and advances.
According to professor Chamber, “Bank is an office or institution for keeping, lending
and exchanging etc of money.”
According to John Harry, “Bank is an economic institution whose main aim is earn
profit through exchange of money and credit instrument.”
From the above definition we can say that, Bank is an institution which deals with the
money. It receives surplus fund from individuals or any organizations and gives money to
individuals or organizations that needed in exchange of profit or interest. So bank is an
intermediary between the surplus units of the society who save and the deficit units of the
society who borrow.
2.3 FEATURES OF A BANK
Bank is a financial institution which deals with other people’s money i.e. money given
by depositors.
1. A bank accepts money from the people in the form of deposits which are usually
repayable on demand or after the expiry of a fixed period.
2. A bank provides easy payment and withdrawal facility to its customers in the form
of cheques and drafts.
3. A bank works as an agent for its customer and provides utility services.
4. Banks make loans to consumers, businesses and organizations. Loans represent
funds that are extended by the Bank to the creditor who agrees to pay the funds
back, with interest, over a specified time period.
5. Banks are operated with the objective of making a profit. Their fee structure and
interest rate is designed with the intention of making money for owners and
shareholders.
6. A bank acts as a connecting link between borrowers and lenders of money. Bank

collects money from those who have surplus money and give to those who are in

need of money.

2.4 BANKING
Banking is an activity which involves acceptance of deposits for the purpose of lending or
investing. Banking also involves providing various other services along with its main
banking activity.
According to the oxford dictionary of Finance and Banking, “Banking is the activities
undertaken by bank.”
So we can say that, Banking is the summation of all activities of bank.

2.5 HISTORY OF BANKING

The English Word “Bank” is derived from Italian word “Banco” which means Bench.
The Latin “bancus” and French word “banque” which means a bench. There are the
opinions that the medieval European bankers (i.e. money changers and money lenders)
transacted their banking activities on the benches in the market place. This money
changing and money lending business is known as the “Banking Business.” The history
of Banking is very old; actually, the need of keeping the surplus of earning safely created
the need of banking activities. So, the concept of Banking first established around 2000
BC in Assyria and Babylonia. This concept spread to the Dutch Republic in the 16th
century and in the 17th century in London. Various monarchs have established the
necessity of banking in different ways. Banking concept was well established in the
whole Europe by the time of Adam Smith. He came along with the “Invisible Hand”
theory. Empowered by his views of a self-regulated company, money lenders and bankers
managed to limit the states’ involvement in the banking sector and the economy as a
whole. This free market capitalism and competitive banking found fertile ground in the
new world, where the United States of America was getting ready to emerge. At first the
US Banking system was not benefited by the smith’s theory. They only issued bank notes
against gold and silver coins. Alexander Hamilton, the secretary of treasury established
the national bank to direct the issuance of bank notes and maintain the reserve of the bank
notes. Gradually, many banking activities like loans, corporate finance transferred at the
hand of merchant banks. After the World War I, U.S. replaced the Europe as the center of
financial world. World War II created the opportunity to spread the banking activities
through the whole world. Banks have come a long way from the ancient world, but the
basic business practices have not changed. Now, at the present world, banking activities
have come in our own hand through the blessings of internet and online activities.

2.6 BANKING IN BANGLADESH

After the liberation war, and the eventual independence of Bangladesh, the Government
of Bangladesh reorganized the Dhaka branch of the State Bank of Pakistan as the central
Bank of the country, and named it Bangladesh Bank. This reorganization was done
pursuant to Bangladesh Bank Order, 1972 and the Bangladesh Bank came into existence
with retrospective effect from 16 December 1971. In the 80s it was increasingly felt that a
number of PCBs might have improved their position putting nationalized banks into
competition. The launching of PCBs has finally created a significant impact in quality of
services in banking. Banking being a service industry, it is not easy to quantify the
performance of this sector like manufacturing.
After the independence, banking industry in Bangladesh started its journey with 6
nationalized commercialized Banks, 2 State owned specialized Banks and 3 Foreign
Banks.
In the 1980s banking industry achieved significant expansion with the entrance of private
Banks. Now, Banks in Bangladesh are primarily of two types:

Scheduled Banks
The Banks which get license to operate under Bank Company Act, 1991 (Amended in
2003) are termed as Scheduled Banks. Banks which are included in the list of central
Banks are termed as Schedule Banks.
There are 57 schedule Banks which include:
 6 State Owned Commercial Banks
 2 Specialized Banks
 40 Private Commercial Banks
 32 Conventional Banks
 8 Islamic Banks
 9 foreign Commercial Banks.

Non-Scheduled Banks:
The banks which are established for special and definite objective and operate under the
acts that are enacted for meeting up those objectives, are termed as Non-Scheduled
Banks. These banks cannot perform all functions of scheduled Banks. There are 4 non
schedule banks.

2.7 LIST OF BANKS IN BANGLADESH

1. Scheduled Bank (56)

A. Central Bank:
Bangladesh Bank
B. State Owned Commercial Bank:
Sonali Bank
Rupali Bank
Agrani Bank
Janata Bank
BASIC Bank Limited
Bangladesh Development Bank Limited.
C. Private Commercial Bank:
BRAC Bank Limited
Eastern Bank Limited
Dutch Bangla Bank Limited
Dhaka Bank Limited
Pubali Bank Limited
Uttara Bank Limited
IFIC Bank Limited
National Bank Limited
The City Bank Limited
United Commercial Bank Limited
NCC Bank Limited, Prime Bank Limited
South East Bank Limited
Standard Bank Limited
One Bank Limited
Mercantile Bank Limited
Bangladesh Commerce Bank Limited
Mutual Trust Bank Limited
The Premier Bank Limited
Bank Asia Limited
Trust Bank Limited
Jamuna Bank Limited
Meghna Bank Limited
AB Bank Limited
The Farmers Bank Limited
NRB Bank Limited
NRB Commercial Bank Limited
NRB Global Bank Limited
Midland Bank
Modhumoti Bank Limited
South Bangla Agricultural & Commerce Bank Limited.
 D. Islamic Commercial Bank:
Islami Bank Bangladesh Limited
ICB Islami Bank
Shahjalal Islami Bank Limited
First Security Islami Bank Limited
Exim Bank Limited
Al-Arafah Islami Bank Limited
Social Islami Bank Limited.

E. Foreign Commercial Bank:

HSBC
Standard Chartered Bank
Commercial Bank of Ceylon
State Bank of India
Habib Bank
National Bank of Pakistan
Woori Bank
Bank Al-Falah
Citi Bank NA.

F. Specialized Bank:
Rajshahi Krishi Unnayan Bank
Bangladesh Krishi Bank.

2. Non-scheduled Banks (4):

Ansar VDP Unnayan Bank
Karmashangosthan Bank
Probashi Kollyan Bank
Jubilee Bank.
 Chapter - 3
AN OVERVIEW OF BANK ASIA LTD.
3.1 HISTORICAL BACKGROUND OF BANK ASIA LTD.
Banking sector has a vital role to play in the economic activities and development of any
country. This sector is much more important in a developing country like Bangladesh.
Bank Asia has been launched by a group of successful entrepreneurs with recognized
standing in the society. The management of the Bank consists of a team led by senior
bankers with decades of experience in national and international markets. The senior
management team is ably supported by a group of professionals many of whom have
exposure in the international market.

It set milestone by acquiring the business operations of the Bank of Nova Scotia in
Dhaka, first in the banking history of Bangladesh. It again repeated the performance by
acquiring the Bangladesh operations of Muslim Commercial Bank Ltd. (MCB), a
Pakistani bank.

In the year 2003 the Bank again came to the limelight with oversubscription of the Initial
Public Offering of the shares of the Bank, which was a record (55 times) in our capital
market's history and its shares commands respectable premium.

The asset and liability growth has been remarkable. Bank Asia has been actively
participating in the local money market as well as foreign currency market without
exposing the Bank to vulnerable positions. The Bank's investment in Treasury Bills and
other securities went up noticeably opening up opportunities for enhancing income in the
context of a regime of gradual interest rate decline.
Bank Asia Limited started its service with a vision to serve people with modern and
innovative banking products and services at affordable charge. Being parallel to the
cutting edge technology the Bank is offering online banking with added delivery channels
like ATM, Tele-banking, SMS and Net Banking. And as part of the bank's commitment to
provide all modern and value added banking service in keeping with the very best
standard in a globalize world.
Bank Asia Limited is moving forward with its line of products and services for each of its
customers segments – retail, SME and corporate clients. The Bank’s services, backed up
by real time online banking software, are capable of handling customized needs of the
clients in all these segments. Challenging and exciting times are ahead of the Banking
 industry. Bank Asia is ready to take the advantage of the opportunities that are emerging
as a result of the booming global prosperity and of the domestic economy, increased
awareness of banking among the average citizen, and the underlying demographic trends.
With the visionary Board of Directors, competent management team, quality manpower,
advanced IT infrastructure, market oriented product lines, and the unwavering
commitment of the valued customers, the aim of the Bank is to surpass their own
standards of performance both commercially and as a good corporate entity. The Bank
anticipates expanding the corporate banking business with more focused approach. The
Retail banking and SME banking are expected to help in diversifying the Bank’s
portfolio. The bank also has plans to expand the branch network to reach more customers.
Plans are underway to expand the Bank’s own proprietary and shared ATM network; to
incorporate additional modules into “STEALER”, to enhance the IT infrastructure, and to
provide additional facilities under other alternative delivery channels as well. The Bank’s
Credit Card business is expected to contribute to the bottom line as well as provide added
convenience to Bank Asia’s retail clients.

Bank Asia is a third generation public limited commercial bank. It received the Certificate
of Incorporation on September 28, 1999 and came to operation on November 27, 1999.
Now after 12 faithful years of dedicated and reliable services, Bank Asia has created an
envious position for itself among the leading banks of the country with an Asset base of
TK. 117 billion, Deposit of TK 95 Billion and 70+ outlets all over the country. But most
importantly, the Bank has an unsurpassed legacy attached with its image

3.2 VISION OF BANK ASIA LTD.

 Bank Asia's vision is to have a poverty free Bangladesh in course of a generation in the new
millennium, reflecting the national dream.
 Our vision is to build a society where human dignity and human rights receive the highest
consideration along with reduction of poverty.
3.3 MISSION OF BANK ASIA LTD.

 To assist in bringing high quality service to our customers and to participate in the growth
and expansion of our national economy.
 To set high standards of integrity and bring total satisfaction to our clients, shareholders
and employees.
 To become the most sought after bank in the country, rendering technology driven
innovative services by our dedicated team of professionals.

3.4 OBJECTIVES OF BANK ASIA LTD.

 High customer satisfaction.
 Maintaining good relationship with customers and corporate clients.
 Giving importance to the smallest query of the customer.
 Providing better service and product to the customer.
 Serving the whole by establishing branches in every part of the country.
 Value addition to the stakeholders through attaining excellence in banking operations.
 Maintain high ethical standard and transparency in dealings.

3.5 PAY-OFF LINE/ SLOGAN

 For A Better Tomorrow.

3.6 CORE VALUES

 Place customer interest and satisfaction as first priority and provide customized banking
products and services
 Value addition to the stakeholders through attaining excellence in banking operations
 Maintain high ethical standard and transparency in dealings
 Be a compliant institution through adhering to all regulatory requirements
 Contribute significantly for the betterment of the society
 Ensure higher degree of motivation and dignified working environment for our human
capital and respect optimal work-life balance
 Committed to protect the environment and go green
3.7 CORPORATE INFORMATION

Letter of intent received 24/02/1999

First meeting of promoters 15/04/1999
Certificate of incorporation received 28/09/1999
Certificate of commencement of business 28/09/1999
First meeting of board of directors held 01/10/1999
Banking license received 06/10/1999
First branch license received 31/10/1999
Inauguration of bank 27/11/1999
Date of publication of prospectus 29/06/2003
Date of IPO subscription 23/09/2003, 24/09/2003
Date of first share trading in bourse 08/01/2004
Date of agreement with CDBL 20/12/2005
Date of first scrip less trading 30/01/2006
Number of promoters 22
Number of directors 12
Number of branches 119
Number of SME centers 10
Number of Islamic windows 05
Number of Islamic ATM 98
3.8 COMPANY PROFILE

The name of the company is Bank Asia Limited. The head office of this bank is in Rangs
Tower (2nd to 6th Floor) 68,Purana Paltan Dhaka-1000. It established in November 27,
1999. It involved in Banking Industry. Bank Asia Limited has 14,402 shareholders of
which 25 Sponsors and Directors, 13,857 General Public, 2 Foreign Investors, 119
Investment Companies, 277 Institution and 122 non-resident Bangladeshis. This Bank has
110 branches. It has 657 foreign correspondents in 165 countries and 45 exchange House
in 9 countries as foreign remittance channeling partner. Bank Asia Limited has three
subsidiary company among three two in abroad which are ‘BA Exchange Company (UK)
Limited’ in London, United Kingdom established on May, 2011 and ‘BA Express USA
Inc.’ in Jamaica, New York, USA established on June 01, 2014 and 1 in Bangladesh
‘Bank Asia Securities Limited’ established on March 16, 2011. In 2016 their profit after
tax was 2583.92 (in Millions). Their slogan is “For a Better Tomorrow”. Their website
address is http://www.bankasia-bd.com.
3.8 PRODUCTS & SERVICES
Products:
 Current Deposit Account
 Savings Bank Account
 Short Notice Deposit Account
 School Banking Solution
i) Smart Junior Saver
ii) School Banking Account
iii) School Fee Collection
 Payroll Banking for Teachers
 Term Deposits
 Remote Banking (EBEK)
 10 Tk. Account

Services:
 Account Opening
 Deposit & Withdrawal from account
 Fund Transfer within bank and to any bank in Bangladesh
 Inward Foreign Remittance payment
 Utility Bill Payment
 Balance Inquiry
 Account Statement (mini)
 Passport Fee Collection
 SME Loan Processing
 Agricultural Loan Processing
 Repayment of Loan Installment
 Disbursement and Payment of Social Safety Net
 Salary Disbursement Solution
 Debit/NFC Card Service
 Cheque Book facility for Agent Banking customer
 Mobile Top Up
 Agent Banking Apps
z

3.9 HIERARCHY POSITION OF BANK ASIA LIMITED

President & Managing Director

Deputy Managing Director (DMD)

Senior Executive Vice President (SEVP)

Executive Vice President (EVP)

Senior Vice President (SVP)

Vice President (VP)

First Vice President (FVP)

Assistant Vice President (AVP)

First Assistant Vice President (FAVP)

Senior Executive Officer (SEO)

Executive Officer (EO)

Senior Officer (SO)

Management Trainee Officer(MTO)

Officer

Junior Officer (JO)

Assistant Officer(AO)

Banking Officer (BO)

Trainee Officer (TO)

 z

3.8 BOARD OF DIRECTORS

Mr. A. Rouf Chowdhury

Chairman

Mr. Mohd. Safwan Choudhury

Vice Chairman

Ms. Romana Rouf Chowdhury Mr. Mashiur Rahman Mr. M. Shahjahan Bhuiyan
Director Director Director

Mr. Md Nazrul Huda Mr. M Irfan Syed Ms. Hosneara Sinha

z

Director Director Director

Ms. Naheed Akhter Sinha Maj. Gen. Matiur Rahman (Rtd.) Mr. Dilwar H Chaudhury
Director Director Director

Md. Arfan Ali

President & Managing Director
z

3.9 DIVISIONS OF BANK ASIA LTD.

Operations, Credit & IT

The primary motivation behind the operation division is to keep up and guarantee free stream the
general organizational exercises.

HR & Company Secretary:

In the creating keeping cash field headway and specialization will be the best approach to
keeping up centered edge. A clear system to select the best capacity is viably settled through the
Human Resource Division. The human resource office goes on different get ready and change
programs all through in an effort towards determined progression of the HR Interactions of the
bank. Both inside and external coaches conduct in-house planning programs and these tasks are
tenaciously updated to reflect the latest progression in the dealing with a record furthermore
information advancement territory. Prior to the end of 2005 forms the work quality extended to
397 from 331 toward the end of the prior year.

Marketing
The Marketing Department is in charge of the coordination of all promoting exercises of the
Bank; guarantees promoting exercises are in consistence with state and government controls;
creates different advertising ideas, targets, materials, commercials, programs, public statements,
and other uncommon occasions endorsed by senior administration and the Top managerial staff.
The division gives direction and directions execution endeavors concerning the establishment of
new or existing items and administrations. The Office is likewise in charge of being the essential
contact of advertising and media contacts, publicizing, and certain business advancement
exercises that advance the soul, reasoning, commitment, and general course of the Bank.
z

International Division

International Division creates and benefit far reaching individual budgetary connections inside
Global target market through an expert deals exertion and distinguish qualified potential foreign
customers. The office start contacts survey need; introduce a variety of items and
administrations, and close deals. This office is in charge of the administration and aggregate
overhauling of the global customer relationship, and for the development and gainfulness of the
biggest, most mind boggling and beneficial connections in the unit.

Credit
The Credit Division is in charge of social event and investigating credit data on present and
potential borrowers; decides the suitability of giving acknowledgment for broadened sorts of
advances Obligations additionally helping advance officers in composing advance solicitations;
advancing business for the Bank by keeping up great client relations and alluding clients to
fitting staff for new administrations.

Audit & Internal Control

The Audit and Inner Control Department is liable of creating, executing and imparting Treasury
Bank Review's vision, mission, objectives and systems. To guarantee that basic business and
administrative procedures are set up and working, this office creates and keeps up a powerful
association with business accomplice administration, helps business accomplices adjust their
business system with proper danger administration controls and urges specialty unit
administration to self-evaluate its business surroundings and create activity arranges around
"holes" that could affect sound danger administration or accomplishment in meeting marketable
strategies. The division additionally guarantees that staff comprehends and is fittingly adjusted to
the organization's targets/values, and stay side by side to strategies utilized by Review and the
specialty units they survey. Different obligations in guaranteeing that satisfactory assets and
preparing are given to staff, adequate to guarantee full consistence with every single
administrative necessity.
z

Financial Control Department

This division is in charge of the greater part of the Bank's financial working results, for
example, cost bookkeeping, spending plans, administrative office and government reports
guaranteeing the shield of Bank resources. The Money related Control Office likewise advises
senior administration on monetary control and benefit; gets ready, exhibits and translates
budgetary reports to senior administration; sticks to duty laws and administrative consistence to
appropriately mirror the budgetary position of the Bank.

Information & Communication Department

The Data and Correspondence Division is in charge of the Bank's electronic and money
administration based items and tasks, including the advancement, arrangement and upkeep of
Bank's Website; helps record and business improvement officers in the offers of related items
and administrations. The division likewise performs direct supervisory obligations of office
staff; organizes staff for scope in every single related range of the office; guarantees different
office exercises or activities run easily and effectively.
z

3.10 BRANCHES OF BANK ASIA LTD.

SL Branches Details
NO
1 Uposhahar Office
Rangs Tower(2nd to 6th Floor)
Tell : 02- 47110062, 47110247, 47113867, 47110278,
47110173, 47115813, 47110468,
Fax : 88-02-7175524,
E-mail : [email protected]
Web : www.bankasia-bd.com,
https://mybank.bankasia-bd.com
Contact Center (24/7): 16205
E-mail : [email protected]

2 Beani Bazar Branch Branch Code: 042

Address: Tazma Shopping City (1st Floor) Beani
Bazar, Sylhet
Phone: 082-23-56103-4

3 Jagannathpur Branch Branch Code: 050

Address: Jagannathpur Branch 76 T&T Road, Ward-
07, Jagannathpur Bazar, Sunamgonj

4 Laldighirpar Branch Branch Code: 058

Address: Laldighirpar Main Road Laldighirpar, Sylhet

5 Moulvi Bazar Branch Branch Code: 051

Address: Shah Mostafa Garden City, M. Saifur Rahman
Road (Central Road) Moulavi Bazar

6 Rekabibazar SME Service Branch Code: 153

Center Address: Rekabi Bazar Point, Rekabi Bazar, Sylhet

7 Sylhet Main Branch Branch Code: 010

Address: 60 Niloy, Dargah Gate, Sylhet

8 Sylhet Uposhohor Branch Address: Rahim Tower Subhanighat Bishwa Road,

Sylhet
z

Chapter - 4
"GENERAL BANKING ACTIVITIES OF
BANK ASIA LTD."
z

4.1 GENERAL BANKING

General Banking is the heart of all banking activities. It is the introductory department of the
bank to its customers. Since this is a banking organization, this organization earns profit through
selling services to its customers. This department assists in taking deposits and simultaneously
provide some necessary services. In, Bank Asia skilled people are allocated for providing such
services and for the purpose of deposit mobilization. The general banking department of Bank
Asia consists of following activities:


Account Opening and Lockers Services



Cash management and teller operations



Remittance Department



Clearing Section



Financial Control & Accounts Department (FCAD)

Figure 01 : Activities of General Banking of Bank Asia Limited

z

4.2 ACCOUNT OPENNING

Account opening is the very important part of general banking. Bank Asia offers different types
of account to their customers: Current Deposits, Savings Bank Deposits, Fixed Deposits, Short
Term Deposits, Monthly Term Deposits, and Any other deposits as may be approved / advised
by Head Office.

General Instructions for account opening

 Firstly the clients need to collect the account opening form from their helpful branch
endorsed by Bank Asia Limited.

 Account opening officer will be outfitted with Transaction profile form, Customers risk
assessment form, Requisition for issuance of Cheque book, Money laundering form and
guideline for account opening

 The officer will talk to the customer in a decent manner regarding his opening a bank
account. The officer will check the clients by utilizing this technique. If the officer will
satisfy he gives the account opening form to his customer.

 Account opening officer will take Account holder information and nominee information
from the Account holder to fill up the KYC (know your customer) and TP form.

 Officer will help the Account Holder to fill up and complete the account opening form as
far as possible.

 Account holder should give 2 passport size photographs and 1 passport size photographs
of his or her nominee and the photocopy from their Passport/National ID card/Voter ID
card/Union Perished Certificate.

 Card for ATM and SMS benefit properly marked.

 In instance of, Joint Account, operational directions should be confirmed with the
signature of applicants jointly.
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4.3 PROCEDURES OF ACCOUNT OPEENING IN FLOW CHART

Figure 02: Procedures of account opening.

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4.4 FEATURES AND DOCUMENTS REQUIRED FOR DIFFERENT ACCOUNTS

Savings Account

Customer Benefit
Cheque-book facility
Opportunity to apply for - safe deposit locker facility
Collect foreign remittance in both TC. & Taka draft
Transfer of fund from one branch to another by
- Demand Draft
- Mail Transfer
- Telegraphic Transfer
Transfer of fund on Standing Instruction Arrangement
Collection of cheques through Clearing House
Online Banking service
SMS Banking
Bank Asia ATM Card Service

Documents Required
Completed account opening form
Passport size photograph for each account holder and nominee(s)
Proof of identification such as national/Voter's ID, Passport or Driving License
Tax Identification No (TIN)

Current Account
Customer Benefit
Cheque-book facility
Opportunity to apply for - safe deposit locker facility
Collect foreign remittance in both TC. & Taka draft
Transfer of fund from one branch to another by
- Demand Draft
- Mail Transfer
- Telegraphic Transfer
Transfer of fund on Standing Instruction Arrangement
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Collection of cheques through Clearing House

Online Banking service
SMS Banking
Bank Asia ATM Card Service

Documents Required
Completed account opening form
Passport size photograph for each account holder and nominee(s)
Proof of identification such as national/Voter's ID, Passport or Driving License
Tax Identification No (TIN)
Trade License
Proof of address – copy of utility bill

Short Term Deposit (STD) Account

This is opened and worked for fleeting and for particular reason. It is additionally an interest
bearing account and where rate of interest is for the most part underneath the reserve funds rate.
Regularly, intrigue is paid on day by day item premise. People, Firms, Organizations, and
Affiliations may open this account. Current Loan cost of Bank Asia for this store is 5%.

Fixed Deposit Receipt (FDR) Account

Features
A term deposit account, guarantees interest on deposit
Attractive interstate rate
Flexible tenor
Up to 90% loan facilities

Documents required
Completed account opening form
Passport size photograph for each account holder and nominee(s)
Proof of identification such as national/Voter's ID, Passport or Driving License
Tax Identification No (TIN)
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Double Benefit Plus (DB+)

Benefits
Attractive and competitive interest rates
Double the amount in just 9 years
No hidden charges
SOD loan facilities is available
Rest of the terms & conditions unchanged
Other Issues:

 Deposit amount starts with Tk. 50,000 or its multiple

 Maximum deposit amount under single name is Tk. 4,000,000
 Maximum deposit amount under joint name is Tk. 6,000,000

Terms & Conditions:

 Only individuals can open this account
 In case of premature encashment, simple interest rate at existing savings deposit will apply.

Monthly Benefit Plus (MB+)

Benefits:
Attractive and competitive interest rates
Monthly return up to 700 Taka for every one Lac Taka Deposit
No hidden charges
SOD loan facilities can be availed
Rest of the terms & conditions unchanged
Other Issues:
Deposit tenure: 3 and 5 years
Deposit amount starts with Tk. 1000,000 or its multiple
Maximum deposit amount under single name Tk. 4,000,000
Maximum deposit amount under joint name is Tk. 6,000,000
Terms & Conditions:
Only individuals can open this account
Customer must maintain link account with Bank Asia
No interest before one year.
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4.5 INTEREST RATES ON DIFFERENT ACCOUNTS

Following are the interest rates of deposit products for Bank Asia customers:

Type Interest Rate

Savings Account
Avg. Balance below Tk. 1 Lac 3.50%
Avg. Balance Tk. 1 Lac & above but below Tk. 1.00 Crore 3.50%
Avg. Balance Tk. 1.00 Crore and above 4.00%
Special Notice Deposit (SND)
Avg. balance below Tk. 1 crore 2.50%
Avg. balance Tk. 1 crore but below Tk. 25 crore 4.00%
Avg. balance Tk. 25 crore but below Tk. 50 crore 6.00%
Avg. balance Tk. 50 crore but below Tk. 100 crore 6.00%
Avg. balance Tk. 100 crore and above 6.00%
For IPO Fund 3.00%
Fixed Deposit Receipt (FDR)
Flat Rate of 6% on any amount 6.00%
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4.6 ISSUANCE OF CHEQUE BOOK

A. At the first of opening an account, the first cheque book should be issued to an account
holder on the basis of first requisition slip signed by him, obtaining approval from the
HOB/ MOB as applicable. The cheque books are to be obtained from the central clearing
department of the office as per the system of MICR cheque book issue.
B. All subsequent cheque books should be issued against cheque book Requisition slips
from the cheque book previously issued. It is noted that no cheque issuance over
Telephone or Fax will be accepted.
C. Before issuing the new cheque book, the Branch should consider the following:
i. Letter of thanks is received by the customer & returned acknowledgement copy to
Branch in case of new account opened.
ii. A satisfactory average balance is maintained.
iii. The account is not inoperative.
iv. Cheque book issued earlier have been fully utilized.

v. Cheques are not frequently returned for want of funds.

vi. Payments of cheques are not frequently stopped.
D. A fresh cheque book should be issued to the account holder once the HOB/ Authorized
officer is satisfied about the conduct of the account and has verified the signature of the
account holder.
E. If a cheque book is requested against a letter signed by the account holder without
production of the Requisition slip from a previous cheque book, care should be taken to
establish the genuineness of this request, particularly when the address of the account
holder has recently been changed.
F. Issue of fresh cheque book to a customer whose account has been transferred to a
dormant account ledger shall be allowed only when the account holder calls on
personally at the branch for identification purposes and fill up cheque requisition slip
duly signed and the HOB has fully satisfied.
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G. The cheque book will be issued in a following manner:

i. The branch name, the account number, and the name of the client shall be printed
or written on each cheque leaf and requisition slip.
ii. The leaves of the cheque book under issue shall be counted to ensure that all the
leaves and bank requisition slip are in-tact.
iii. The name and account number should be entered in the cheque book issued
register against the relative cheque book series. The client or his representative
shall acknowledge the receipt and initialed by the Desk officer.
iv. The Cheque Book Requisition slip and cheque book issued register should be
signed by the Authorized Officer and each leaf shall be initialed by a Dealing
officer.
v. Cheque book delivered to the account holder at the counter should be
acknowledged by them overleaf on the requisition slip.
vi. An account holder may send a written authority to deliver a cheque book to his
authorized representatives. In that case signature of bearer must be attested by the
account holder.
vii. In special cases cheque books may be delivered by the bank messengers. But in
such case letter of acknowledgement must be sent to the customer along with the
cheque book.
viii. After issuance of the cheque book, the details of cheque numbers issued
should be recorded in computer program.
ix. The entries made in the computer shall be checked and signed by the Authorized
officer.
x. All requisition slips against which cheque books have been issued, should be
counter checked with the cheque book issue Register, stitched with other vouchers
at the end of each business day, and will hand over to the officer in charge of
vouchers for safe custody.
xi. For issue & delivery of cheque book the issuing officer must tally the cheque
book register, previous issuance date, serial number of cheque leaves with the
help of stelar.
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xii. At the close of office stock of cheque books shall be placed in the safe or inside
the store room under the supervision of the authorized official.

4.7 PROCEDURES OF ISSUANCE OF CHEQUE BOOKS

Figure 03: Procedures of Cheque book issuance

4.8 MICR PRINTED CHEQUE BOOKS

A. Under the MICR cheque system, the cheques are designed to have names, account
number, name of the branch printed on each cheque leaf.
B. All requests for MICR cheques are received in a day are to be entered into the MICR
cheque requisition Module of Stellar and sent to the Uposhahar branch office Central
Clearing Department who on their turn, arrange printing of the cheque books with name
of the account holder, name of Branch, account number, cheque serial number form the
approved vendor and send the cheque books to respective Branches in accordance with
the laid down procedure by corporate Office from time to time.
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4.8 CANCELLATION OF CHEQUE BOOKS

A. A cheque book can be cancelled for various reasons in which the unused cheque book
should be cancelled immediately after consultation with HOB/MOB. In other cases,
efforts shall be made to collect all unused cheques and Cheque requisition slips from the
Account holders when they intend to close accounts.
B. All unused cheques shall be returned only to the Officer-in-charge of the Department.
C. In case of, error and return of unused cheque books where cheques are entered into
systems, should be stopped as per stop payment procedure.
D. The Particulars of the closed account, with the unused cheques returned by the party,
shall be recorded in Account Closing Register.
E. The unused cheques and Requisition slips returned by a party shall be destroyed by
Officer-in-charge/ HOB/ MOB in the same day and a not to be mentioned in the Account
Closing Register and Cheque Book Issue Register.
F. When an account closing request is received without surrendering the active cheque
leaves and the customer informed that the remaining cheque leaves have been lost, the
active cheque leaves would be cancelled before closing of the account after deducting
required charge, which is minimum TK. 200 and maximum TK. 2000 before closing the
account

4.9 CASH MANAGEMENT AND TELLER OPERATION

A teller is one who is the most important representative of the Bank who should build good
relationship with the customers. She/he has a direct personal role to play in handling deposits of
the customers. A major portion of a Teller’s work day is spent in receiving deposits enchasing
cheques, drafts, pay orders etc. The majority of the customers come in contact solely with the
tellers. This presents a special challenge to the Teller, for it she/he has to maintain a good
customer relationship through personal contact daily with the customer.
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4.10 CASH MANAGEMETN/ VAULT CASH & RESERVE CASH

Cash management is very important function of a Branch. Excess/short of cash leads to a Branch
in a risky position. Another risky position is transportation of cash & other valuables through
local transport including traveler’s cheques, prize bonds and security papers are regular job for
Branch. Sylhet Branch will lay down the limits for the transportation of cash and valuables under
the custody of Ban employees covered by insurance policy. In no case, cash should be
transported beyond insurance limit. Cash handling without Branch is also a risky matter, the
teller should retain cash counter within counter limit. In every case, while cash exceeded counter
limit of insurance teller should transfer the cash into vault for safe custody.

Cash Remittance from Branch to Principal Office

A. If cash in hand of any Branch exceeds the limit given by the Main Office as per insurance
limit of vault, Branch shall inform Principal Office/ Main/ Feeding Branch in the area to
collect the excess cash within cash in-transit limit in one lot.
B. The sending Branch shall prepare a letter on depositing mentioning details of the cash
denomination.
C. Cash should be entered into vault control register as well as cash-in-transit register duly
signed by vault custodian and HOB/MOB.
D. An officer accompanies remittance along with Guards sent from Principal/Main/Feeding
Branch. The amount will be received by the cash officer accompanying remittance letter.
E. Then the officer shall receive the bundles, packed in a trunk under lock and key and send
for other Branch escorting earned guard with Banks vehicle.
F. The Principal/ Main/ Feeing Branch will verify and check the denomination mentioned in
the denomination slip and letter of sending Branch in front of the Authorized officer.
G. The receiving Branch shall receive amount entering into “Inward Cash Received
Register” and preparing voucher signed by two officers and by putting “Cash Received”
seal.
H. The acknowledgement of cash receipt shall be checked by authorized officer and voucher
will be posted by the teller.
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Cash Remittance from Principal office/ Main Branch to other Branch:

A. If a Branch is in need of cash, Principal Office/ Main Branch is informed in advance

to arrange cash, vehicle and security guards for remittance.
B. The requisition should be made on the previous day of the requirement.
C. Getting the requisition, cash-in-charge of the Principal Office/ Main Branch will get it
signed by the HOB.
D. The cash-in-charge then arrange the remit the cash properly entering into the vault
register.
E. The remittance shall enter into cash remittance register and shall be counter signed
jointly by joint custodians and cash-in-charge.
F. The receiving Branch shall receive the cash at their counter, enter the same into cash
receipt register.
G. The receiving Branch then issue IBCA to Principal Office Branch after passing
necessary journal entry.

Receipt of cash
Cash Receipt against Customer’s Accounts

Receiving cash teller follows the steps and check points:

A. The deposit slip shall be filled in and signed by the client for depositing cash to the
cash counter. The officers count then by cash counting machine & later manually the
notes/coins.
B. The cash receiving Officer shall count the cash and compare total with amount shown
in the deposit slip both words and figures.
C. If the amount still differs return the cash to the depositor for him to recount and
correct the amount in the Deposit slip.
D. The officer writes the amount with red ink on the face of the deposit slip.
E. The cash receiving officer must be confirmed about the account number deposited the
amount and the name of the account holder. The cash receiving officer shall sign and
affix a “Cash Received” seal on the deposit slip and on the carbon copy after
confirming name and account number.
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F. Teller shall pass the entry into iStellar Module and affix “Posted” seal along with
transaction number.
G. Then the clients get the deposit slip signed by the cash-in-charge.
H. In case of beyond teller limit slip should be sent to authorizer and authorizer shall
sign on the deposit slip as well as authorized the transaction.
I. In case of cash receipt in credit vouchers originated from the department, the same
shall be signed by two authorized officers before depositing the same with the cash
receiving counter.
J. Cash teller can balance his/her physical cash position with system drawer’s position
at free time of the day. At the end of the day teller must generate batch journal report
and cross cheque with cash receiving vouchers.

Cash Payment against remittance:

i. Cash teller can’t directly process any remittance transaction.
ii. The remittance officer will complete all the formalities for remittance and prepare a
voucher for cash payment duly signed by the authorized operation of the Branch and
handover the voucher to the teller.

Balancing and checking

At the close of the Banking hour the individual Receiving and Paying Cash Officers shall total
their respective teller’s Cash Proof sheet and tally the same with their respective balance held by
the cash Officer. The total figure of all cash receiving and Payment Registers shall enter into the
Cash Balance Book. The closing balance of individual book shall be written in both figure and
words. The Register shall be signed by the Cash-in-charge and MOB. The cash balance book is
checked with the closing figures of the preceding day of the book and closing figures of Teller
Cash Proof. The Cash Position memo would be sent to the Accounts department. The account
department will acknowledge receipts of the same on the duplicate copy of the memo and fill in
the “Cash Position Memo” file. The vault Register shall be maintained properly.
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4.11 PAY ORDER

A pay order is a written order, issued by a Branch of a Bank, to pay certain sum of money to a
specified person or a Bank. It may be said to be Banker’s cheque as it is issued by a Bank drawn
upon and payable by itself. A pay order is issued and paid by the same branch of a Bank and as
such, the drawer and drawee are the same. The person or the organization in whose favor it is
issued is known as payee or beneficiary.

A pay order is divided into three parts:



The actual pay order


The second counterfoil to be retained by the payee

The first counterfoil to be retained by the issuing Branch as record.


The purpose of the Pay order is to execute transfer of fund from one hand to another. Such
transfer of fund should be for a specific purpose. A pay order may be issued to affect payment on
its own account by one bank to another bank in settlement of cheques returned after clearing
hours.

4.12 ISSUANCE OF PAY ORDER

A. Block series number of PO must be booked into the system by the Remittance Officer
before issuance of the PO.
B. The pre-printed PO serial number has to be posted in the system and no controlling
number is required to be entered in the system.
C. Instrument has to be signed by two authorized signatories with PA number.
D. Amount, Beneficiary, Currency, Name of issuing Branch is to be entered in the
respective field in STELAR system on instrument tally.
E. Particulars of the instrument matches with those entered into the system.

Applicant of the PO maybe existing customer or walk in customer of the branch. Issuance of PO
should be debiting customer account in case of account holder and against cash in case of walk-
in- customers.
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4.13 PAYMENT OF PAY ORDER

A. Payment will be made to Beneficiary’s account.

B. Payment may be made to purchaser’s account only when beneficiary will release the PO.
C. Collecting Bank’s endorsement required in case of clearing payment.
D. Cash payment against PO can only be made by PO issuing Branch observing necessary
formalities.

4.14 Safe Deposit Lockers

Safe deposit locker facility is one of the subsidiary services provided by the Bank for keeping the
valuable in the safe deposit locker. This provides safety to the belongings of the customers
against theft. Bank provides specially designed lockers kept at specially built strong rooms for
keeping the valuables of the hirer purchased from reputed manufacturers.

A. The clients have the ownership of the lockers. She/he can use it as per condition of the
deed. The client cannot handover or sublet the locker.
B. The Bank has the right to close the Locker section for a certain period or forever if
considered risky without serving any notice to the locker holder(s).
C. If the locker holder does not serve notice for termination of the deed, this will be treated
as renewed for the next year.
D. Any change of the address of the hirer must be immediately notified to the bank.
E. In any case loss of key by the hirer, the lock of the locker would be replaced by the
Bank’s designated technicians.
F. Bank is not responsible for any kind or damage or loss of the things kept in the lockers.
G. Locker can be surrendered by the hirers at any time during the contact period.
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4.15 CLEARING

Introduction of BACH
BACH (Bangladesh Automated Clearing House) is a new dimension in Banking that has
changed clearing operations in banking thoughts to redesign in digital form. It has increased
bankers’ service capacity and opened the multiracial e-com services to customers and

contributing increase of 1% GDP in the economy. BACH started commercially on 7 th October,

2010 from Dhaka and step by step captured all traditional clearing houses over the country (86
houses). Bank Asia Limited is recorded as core partner of implementation in all stages of the
project very successfully.

4.16 INWARD & OUTWARD CLEARING

Inward clearing: Handled by central clearing unit. Branch gets the report of inward cheque
details and ensures positive pay confirmation.

Outward clearing: BA follows decentralized module. Branch under checker system scan
the cheque, put amount and beneficiary name and a/c maker, checker confirms the entry and
saved.

Clearing house section

In a more extensive sense we may characterize clearing house as facilitator to the part banks to
settle down their bury bank exchange i.e. checks for gathering from different banks. For all
intents and purposes clearing house is a house (Floor) of Bangladesh Bank (BB), national Bank
of Bangladesh, where each bank has its own particular work area with own name plate and all
the approved authority of all banks come here inside working time to settle their entomb bank
exchange. At present there 52 desks for 52 banks. Typically Bangladesh Bank gives
clearinghouse offices to its part in various areas and where BB branch is not accessible, Sonali
Bank, in the interest of BB, masterminds clearing house. Generally the approved authority of
each bank go to clearing house floor in opening time with all accumulation checks in his grasp
drawn on different banks and settle down their exchange by the plan of clearing house. Usually
two houses sit for settlement named as:
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1. First house: Usually all the collection cheques are collected in this clearing house except
those who enjoy facility of same day house. Normally this house takes sit at around 9:00
A.M. what's more, Return house sits at 5:00 P.M or as coordinated by the House Super.
And after that we put the cheque, gathered prior day, in clearinghouse today for
settlement. And after 5 p.m they credit the collected amount to the customer account and
the customer can withdraw money from his/her account on next transaction day or
through evening banking facility if provided by the bank.

2. Same day house or high value house: There is a special arrangement in Bangladesh
Bank Dhaka clearinghouse for some preferential area and clients, to settle down their
transaction within same day of placing the cheque in clearinghouse. Usually only
Branches located at Motijhil enjoys the facility. The criteria to appreciate the offices of
"Same Day House" is that the cheque must be drawn on and put by the banks where both
of the banks are situated in Motijheel region and the cheque values increasingly that Tk
500,000. Usually same day house starts around 11 p.m. and return house for this takes
place at around 2 p.m. Then they credit the money in customer account and customers
withdraw the money on the same of placing the cheque in the house. Banks provide this
facility only to valued clients and that is why another name of this house is High Value
House.

Outward Clearing Process

 
 Work preparation
I. Banks ensures the use of UV detector in cheques at receiving counters for
detecting material alteration of any.
II. They remove pin, scotch tape, deposit slip cheque counterpart and any other
foreign particles attached with the cheque.
III. Isolate the Fresh respectable check and re-satisfactory check in discrete bunch.
IV. Make bunch of 50 cheques..
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 
 Scanning of cheque
I. They input the amount and beneficiary name correctly in the scanning machine.
II. One run should not contain more than 5 batches.
 
 Amount entry and balancing
I. They carefully do the amount entry to ensure the correctness.
II. If any batch is no auto balanced, they revisit amount entry d do it again.

4.17 OUTWARD COLLECTION

Figure 04: Outward collection process

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Chapter - 5
"RESPONSIBILITIES PERFOMED
DURING INTERNSHIP"
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I did my three months internship program in Bank Asia Limited, Sylhet Branch. I got the
opportunity to work in different department of the branch. I found myself very fortunate and
blessed for being able to associate with one of the renowned banks in Bangladesh.

Throughout my internship program, although I was assigned under Zaber Arbab Chowdhury,
Assistant officer (Sylhet Branch), I worked in customer service with Aporna Rani Sinha,
Executive Officer and GB in-charge. It was a very pleasant and educative experience for me. I
learned many new things about corporate life. Above all, I have learned how to perform a task
responsively on time. This practical experience is crucial for the progress and preparation for
oneself before entering into corporate world. I believe every student should have this experience
before entering into corporate life.

5.1 RESPONSIBILITIES PERFORMED DURING INTERNSHIP

The report has been prepared on the basis of experience gathered during the period of internship.
Within this period, I mainly worked with department namely General Banking, Accounts
department. I also work with Foreign Exchange Department for a really short time. Bank Asia
does not follow any specific guideline for the internship students. Sylhet Branch has to do a lot
of work and is really very busy all the time. They have huge pressures compared to other branch.
The Branch treated me as one of their employees not just an intern. So, I had to do a lot of work.

5.2 CUSTOMER SERVICE DEPARTMENT

In this department, I started my work learning how to open a Bank account, how to fill up the
customers bank account opening forms. My immediate supervisor tried to give me a brief
description of his regular tasks before assigning me to any kind of activities. Later on through
my personal observation and guidance of the superior officer, I came to know about different
types of account like current account (C/A), savings account (SA), STD, FDR etc. He also
assisted me on how to answer clients versatile questions regarding different account opening,
what amount of interest they will get from different types of account, how to locate desired
cheque books form the bundle according to customers requirement, how to receive phone calls
and transfer them to other employee, how to keep patience and deal with the busy customers.
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5.3 ACTIVITIES DONE BY ME

1. I usually give the information to the customers about their desired accounts. If they
wanted to open a savings account I told them that they have to give 2 copies of their
Passport size photographs and 1 copy Passport size photograph of the nominee. They are
also required to submit the photocopy of their utility and a photocopy of their
passport/national ID card. If they submit their tin number Government will take 10% of
their savings amount but if they do not have tin Government will take 15% of their
savings amount.
2. I used to update the customer’s account opening form.
3. I gave product related information to the clients.
4. I made phone calls to the customers if they did not submit all require documents.
5. I used to do cheque book and ATM card entries on register books and keep those books
at a safe place.
6. I worked in cash for 2 days where I received clearing cheque and separate deposit slip
from the cheque.
7. I distributed cheque books by asking them their name, account number and made them
sign on register books and then their sign verified by an officer.
8. I made phone calls to the customers who did not collect their cheque book or ATM card
after passing 3 or 4 months.
9. I put everyday courier to the savings account and also other require documents which I
got after opened an account.
10. Sometimes I checked voucher of other officers.
11. I used to do incoming mail entries in the incoming mail register.
12. I sometimes used to scan and print documents needed by officers.
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5.4 OBSERVATIONS
Throughout my internship program, I have observed some aspects of this branch. Those are
given below:
1. Employees of Bank Asia Limited were very much co-operative and friendly. They have
extreme level of patience. They were always giving me a proper instruction before assigning
me any kind of work.
2. Employees there always try their best to help their customer.
3. The authority of Bank Asia Limited is exceptionally strict about punctuality.
4. Branch Manager held a meeting on first working day of a week and on that day women
employees has to wear saree.
5. The FVP and HOB has a good communication skill. He knows how to hold their esteemed
customeer.
6. They also maintain the festive culture on every occasion.

Despite all the positive responses I have also come across some negative issues. Those are given
below:

1. Lack of manpower: Since the main branch is one of the oldest branch, the workload of the
branch is very high compared to other branches of Bank Asia. But they do not have enough
workforce to manage the work pressures. If one employee is absent or on a leave, another
employee from same department has to look after the responsibilities of two people. This can
cause lack of motivation.
2. Lack of dynamic and prompt customer service: Since number of new banks is increasing
and they are introducing a very competitive customer service. Nowadays people have very
little time to waste and want fastest and unique services in short time. But there are only two
employees handling the overall customer service department. So, sometimes they do not get
the time to satisfy all the customers and customers have to wait a long time and lost their
patience.
3. Shortage of availability of machineries: The branch needs more printers and photocopy
machines. Employee’s activities are hampered most of the time for maintaining serial as well
as it creates gathering on their short space.
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4. Lack of effective advertising and promotion: Advertising and promotion is one of the
weak points of Bank Asia Limited. They do not have any promotional activities.
5. Congested office area: Due to congested area, most of the customers do not get seats on the
pick hours.
6. Unsatisfactory software performance: Bank Asia uses iSTELLAR software to perform
their tasks. But sometimes the server becomes very slow and the software does not work
properly. If customers come or call to know their balance amount on that time, the employees
cannot give them the information.

After finishing my internship from this bank, I have realized that the problems mentioned above
can create obstacles for future prospect. Therefore, the management should be little more careful
about their employees.

To solve above problems Bank Asia, Sylhet Main Branch can do some of the following things.

1. Allocate two employees for same position or for same task.

2. Hire more employees for customer service.
3. Arrange more seats for their customers.
4. Give one small printer to each employee which will be connected with their pc.
5. Make a Facebook page where customer get information about their product and activity.

5.5 APPLICATION OF KNOWLEDGE FROM BBA TO COMPLETE EACH TASK

As a BBA student I learned many things from BBA program, gained a variety of knowledge
through the class lectures, text books, assignments, presentations, viva, exam etc. while
conducting my internship at Bank Asia Ltd, this knowledge was very helpful which I practically
applied.

Banking & Insurance

I learned about various types of account; such as savings deposit account; fixed deposit account;
current deposit account etc. when I joined in internship and worked in Account Opening section;
I gained knowledge about various negotiable instruments, but practically saw those instruments
in the bank.
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Marketing

I have learned from this subject that the financial success often depends on marketing ability.
During my internship, I was able to identify who are seller, buyer, customer, consumer, user etc.
I was introduced with those in marketing subject.

Accounting

From these courses I came to know about the accounting system of an organization like Bank. I
have learned how to make trial balance, income statement, balance sheet, cash flow statement. In
Bank, there were many statements which I learned in academic courses.

Principles of Management
In my BBA program, the “Principles of Management” is the most effective subject. There are
many parts of management- planning, organizing, leading, controlling, motivating, employment.
I have achieved more knowledge about management. I am successful in my internship program
by applying theoretical knowledge of above stated parts. Hence, the knowledge will play
important role in my career, family & social life.

Organizational Behavior
This subject is very important and effective subject in my BBA program. It is very essential to
learn about professional behavior. I have maintained good behavior with my colleagues, clients
authorities during my internship program.

Business Research

This is the course which helped me most in preparing my report. Through this course, I was able
to know how to collect and perform the analysis of data. It helped me to prepare a report in a
comprehensive way. It helped to realize the importance of giving a proper reference in a report
through bibliography. It made me aware about the purpose of the report.
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Business Communication

Business Communication is one of the most essential courses. From this subject I learned how to
compose different types of letter and how to prepare a standard CV. I got special benefit in my
internship program by applying the theoretical knowledge of Business Communication which is
why the CV and cover letter is the excellent example of the application.

Last but not the least, since "Finance and Banking" was my major subject and I completed my
internship in a financial institution- Bank, it was quiet easy for me to understand between the
theoretical and practical differences. I have learned how financial transactions are dealt, I have
learned about different types of accounts, loans, how e-banking are conducted, and what could
be the goal of a financial institution. I have learned all of this while studying BBA.

Although all of these courses are important for practical working experience, it is true that
academic knowledge is not fully used in practical working, but I think all of the subjects of BBA
program are linked with each other. So, it is sometimes hard to find any deviation of academic
knowledge with practical working experience.
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Chapter - 6
"FINDINGS, RECCOMENDATIONS, AND
CONCLUSION"
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6.1 FINDINGS OF THE STUDY

While preparing the report and analyzing the data, I have identified some major findings. I have
only worked at Sylhet Branch of Bank Asia Limited. Therefore, if the practices and corporate
culture of Bank Asia as a whole is believed to be the same as the Sylhet Branch , then the
followings are the findings of my report:

1. There is a visible shortage in work force of General Banking department. Consequently, the
workload is extremely high compared to other branches. This also leads to accumulation of
work that the employees must complete within the deadline.

2. Bank Asia Limited provides wide ranging facilities to its employees to develop their skills
and knowledge about the entire banking system. However, with the existing workforce
shortage, an employee is sent to training without any replacement. This increases the work
pressures for other employees and lads to customer disappointment due to delay of work.

3. The internet facility of Bank Asia is extremely poor. Recently this is a major issue because it
is mandatory by Bangladesh Bank IMP and L/C information online as soon as they are
issued. Due to slow internet connections, it becomes difficult for the employees to input the
information online. This also adds to customer dissatisfaction because if the information is
not entered into online monitoring system of Bangladesh Bank then the customers can not
release or ship goods.

4. Sometimes due to poor internet server, employees cannot tell the customers their required
amount of balance in their account. This also leads to customer dissatisfaction

5. The employees of most departments are not satisfied with the management regarding the
amount of work they have to do. Moreover they have to put up with a lot of difficulty to
apply for the annual leave (LFA) even though they apply for the leave on due time.
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6. The employees are dissatisfied with some of the action taken by the management. For
instance, an employee is transferred from the credit department to another within the branch.
The transfer takes place within the span of one to two days, which is very short time for the
credit department employee to train his/her replacement.

7. There is lack of promotional strategies undertaken by Bank Asia Limited. This causes
substantial unfamiliarity of the bank among the rural people. It may hinder its long term
strategies in terms of reaching large number of customers.

6.2 RECOMMENDATIONS
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Here in this part, I came up with the following recommendations which Bank Asia Limited can
move forward towards progress:

1. Frequent market research: The management of Bank Asia Limited can regularly
administer research activities every three months through structured questionnaire or through
personal interview, in order to keep regular track of satisfaction levels. Regular research may
also be conducted to find out customer satisfaction about various service aspects.
2. Establishment of more ATM booths: Sufficient number of ATM booth might be
established in different location to reach out he customers even further and satisfying their
demand.
3. Improved Customer service: Improvement in customer service is very much essential. To
compete with other banks, customer service should be improved as online service, internet
service, 24 hrs customer service etc. New technologies should be taken for effective services.
4. Handle complaints effectively: BA may give greater importance to manage the complaints
of various customers and to encourage customers to give feedback about the services.
5. Improvement of online banking: Many major problems lied within the online service are
preventing BA form getting more positive response from its customers. Thus, BA IT division
still has several areas having some scopes for further improvement.
6. Recruitment of more employees: I have found that bank should increase their number of
employees. Sometimes employees cannot give proper attention to their clients because of
increasing work pressures. Bank can recruit more employees and divide their work equally.
7. Pursue an attractive advertisement campaign: BA should focuses on advertising
campaigns in order to build up a strong image and reputation among potential customers. TV
adds maybe aired to reach a wider array of customers.
8. Training program: Bank can arrange different training program on different banking rule
and regulations set by Bangladesh Bank which will optimize the efficiency of employees.
9. Bigger office space: The bank authority should rent bigger office space in order to reduce
the storage problem if required.

6.3 CONCLUSION
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The roles of financial institutions have become exceedingly crucial with the increase in the
economic development in Bangladesh. Bank Asia Limited is the third generation bank that is
also contributes to the socioeconomic development of the country. Although Bank Asia
Limited has some issues that are needed to be resolved, nevertheless it is progressing and has
a greater prospect to develop further ones the problems are resolved.

Internship program is very important for every business student as we only have acquired
theoretical knowledge. This program gives us the prospect to have the practical knowledge so
that we can relate the theories to the reality. I am fortunate enough to complete my internship
program at Bank Asia Limited, Sylhet Main Branch. Moreover, I got the chance to work in
the General Banking department as well as in Foreign Trade department for some time.
Although the internship period is very short to acquire in-depth knowledge, yet it gave me
the taste of commercial world.

Bank Asia Limited is working tremendously to become one of the pioneers in banking. The
management is well organized and about time the bank achieves the goals. However, the
bank must launch advanced technologies and software to provide fastest service to its
customers. If they can ensure their customers about the service quality, it will give them the
opportunity to draw new and bigger clients.
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Chapter - 7
"REFERENCES AND APPENDIX"
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7.1 REFERENCES

Books

 Reza, S.M., & Rabbani, G.M. (2014), Research Methodology, Dhaka, Grantha Kutir
 Varshhney, P.N. (2001). Banking Law And Practice, Revised Edition, Sultan Chad & Sons.
 Ali, S.A, & Howlader, R.A(2000), Banking Law And Practice, Revised Edition, Mowla
Brothers
 Khan. Dr. A R. (2008) Bank Management-A Fund Emphasis,1st Edition, Dhaka, Bangladesh
 Malhotra K. Naresh, Dash Satyabhusan (2010), Marketing Research, Exploratory Research,
Design: Primary And Secondary Data, 16th Edition
 Lawrence J. Gitman (2009) Principles of Managerial Finance, Financial Statements and
Analysis, 12th Edition

Websites

1. http://www.bankasia-bd.com/

2. http://www.bankasia-bd.com/annual_reports/Bank Asia Annual Report 2015.pdf

3. http://www.bankasia-bd.com/annual_reports/Bank Asia Sustainability Report 2014.pdf

4. http://www.bankasia-bd.com/annual_reports/Bank_Asia_Annual_Report_2013.pdf

5. http://www.thedailystar.net/xpress-money-teams-up-with-bank-asia-9306

6. http://www.thefinancialexpress-bd.com/2016/05/11/29828/Bank-Asia-receives-BB-
appreciation
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7.2 APPENDIX

FVP- First Vice president

EO-Executive Officer

MOB – Manager Operation of Branch

BA- Bank Asia

PO- Pay of Order

SME- Small Medium Enterprise

ATM- Automated Teller Machine

KYC- Know your customer

DB- Double benefit

MB- Monthly benefit

TIN- TAX identification number

VAT- Value Added tax

FOB- Free on board

BACH- Bangladesh Automated Clearing house

HOB- Head of Branch

MICR- Magnetic Ink character recognition

GL- General Ledger

GB- General Banking

LFA- Leave fare assistance

BB- Bangladesh Bank

TP- Transaction Profile

FCAD- Financial control and Accounts department