Recruitment-Selection Process and General Banking Activities in EXIM

Bank Bangladesh ltd

An Internship Report
Submitted to the Department of Bus. Adm in MGT Studies
Bangladesh University of Professionals for
the Degree Bachelor of Business Administration

Prepared by
MD. HASIBUR RAHMAN KHAN
Student ID: 16241030
Batch: 2016
Department of Bus. Adm in MGT Studies

Supervised by
Dr. SUMAYYA BEGUM
Associate Professor
Department of Bus. Adm in MGT Studies
Faculty of Business Studies
Bangladesh University of Professionals

20 April 2020

i
 Recruitment-Selection Process and General
Banking Activities in EXIM Bank Bangladesh ltd

ii
 Declaration
It is hereby declared that,

1. The internship report submitted is my own original work while completing

Graduation at Bangladesh University of Professionals.
2. The report does not contain previously published materials or written by a third
party, except where this is appropriately cited through full and accurate referencing.
3. The report does not contain material which has been accepted, or submitted, for any
other degree or diploma at a university or other institution.
4. I have acknowledged all main sources of help.

Student’s Full Name & Signature:

___________________________________________

MD. HASIBUR RAHMAN KHAN

Student ID: 16241030
Batch: 2016
Department of Bus. Adm in MGT Studies

Supervisor’s Full Name & Signature:

___________________________________________

Dr. Sumayya Begum

Associate Professor
Department of Bus. Adm in MGT Studies
Faculty of Business Studies
Bangladesh University of Professionals

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 Acknowledgement

In the beginning I would like to express my gratefulness to the almighty Allah who has
given me the opportunity to go through the whole procedures of internship and to write a
report in this regard successfully.
Internship report is a crucial part of BBA program as one can gather practical knowledge
and skills within the period of three months by observing and performing the daily activities
of a chosen organization. In this regard my internship has been arranged in EXIM Bank
Limited, Corporate HO Branch, Gulshan-1, Dhaka.
At first, I would like to acknowledge my heartiest gratitude to my supervisor Honorable
Faculty Dr. Sumayya Begum, Associate Professor, Department of Bus. Adm in MGT
Studies, Faculty of Business Studies, Bangladesh University of Professionals, who has
given me full support, ideas and constant supervision for preparing this report. I am
thankful to her for how she guided me with her extreme consistency in every aspect to make
the report a successful one.
Furthermore, I would like to thank Ms. Jabunnessa Begum, Vice President and Second
Officer; A.K.M Mumitul Islam, Senior Principal Officer & In-charge (General Banking);
Md. Nazrul Islam, Officer and all other employees of EXIM Bank, Corporate HO Branch,
for giving me essential information and guidance as well as helping me to understand the
different banking terms in practical form.
Finally, I convey my heartfelt thanks to my parents for their continuous support both
financially and emotionally throughout my undergraduate program at Bangladesh
University of Professionals.

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 Certificate of Supervision of Research

This is to certify that MD. HASIBUR RAHMAN KHAN has worked under my supervision
in preparing the report entitled “Recruitment-Selection Process and General Banking
Activities in EXIM Bank Bangladesh ltd” submitted in fulfillment of the requirement for
the award of the degree of Bachelor of Business Administration in the Department of
Business Administration, Bangladesh University of Professionals. This report is prepared
with sincerity and dedication carried out by MD. HASIBUR RAHMAN KHAN alone and
to the best of my knowledge.

Supervisor

20 April 2020 Dr. Sumayya Begum

Associate Professor
Department of Bus. Adm in MGT Studies
Faculty of Business Studies
Bangladesh University of Professionals

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 Executive Summary
In the developing countries like Bangladesh, commercial banks are one of the core
contributors to the economy. They act as financial intermediaries by performing the
activities of assembling the funds from one party and lending the same to another while
making a good amount of profit. People and the government itself are greatly reliant on the
services provided by the different banks in the financial market. EXIM Bank Limited has
started their journey as a private commercial bank on August 3, 1999. The total working
procedure of EXIM Bank Limited, Corporate HO Branch is separated into three
departments. They are, General Banking, Investment and Foreign Exchange. I have tried
my best to prepare this report to be as much informative and relevant as possible.
This report provides information regarding EXIM Bank Limited which includes their
historical background, vision, mission, corporate strategy and the other aspect like the
banking with shariah principles etc. After that the report highlights on the activities of
EXIM Bank, Corporate HO Branch. Then the report focuses on the HR Practices by EXIM
Bank Ltd, general banking activities and also my duties and responsibilities as an intern of
that bank. Lastly some recommendations are provided from my perspective in this report.

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Table of Contents

Chapter: One .................................................................................................................................... 1

Introduction ...................................................................................................................................... 1
1.1 Introduction ............................................................................................................................ 1
1.2 Background of the study......................................................................................................... 2
1.3 Rationale of the study ............................................................................................................. 2
1.4 Objectives of the Study .......................................................................................................... 3
1.5 Scope of the study .................................................................................................................. 3
Chapter: Two.................................................................................................................................... 4
Historical Background of EXIM Bank Limited ............................................................................... 4
2.1 Historical Background ............................................................................................................ 4
2.2 Company profile ..................................................................................................................... 4
2.3 Mission ................................................................................................................................... 5
2.4 Vision ..................................................................................................................................... 5
2.5 Objectives of EXIM Bank Limited ........................................................................................ 6
2.6 Corporate Culture ................................................................................................................... 6
2.7 Organogram of EXIM Bank Limited ..................................................................................... 7
2.8 Organizational Structure of EXIM Bank, Corporate HO Branch........................................... 8
2.9 Organizational Chart of Head office ...................................................................................... 8
2.10 Human Resource Practice in EXIM Bank ............................................................................ 9
Chapter: Three................................................................................................................................ 10
Duties and Responsibilities as an Intern ........................................................................................ 10
3.1 Internship-Time Duration ..................................................................................................... 10
3.2 Duties Performed in General Banking ................................................................................. 10
3.2.1 Account opening section ............................................................................................... 10
3.2.2 Cash Section .................................................................................................................. 11
3.3 Duties performed in Foreign Exchange Department ............................................................ 11
3.4 Duties performed in Investment Department ....................................................................... 12
3.5 Duties performed in HR Department ................................................................................... 12
Chapter: Four ................................................................................................................................. 13
Literature Review ........................................................................................................................... 13
4.1 Related Literature (HRM) .................................................................................................... 13
4.2 Related Literature (General Banking) .................................................................................. 16

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Chapter: Five .................................................................................................................................. 17
Methodology .................................................................................................................................. 17
5.1 Methodology of the study..................................................................................................... 17
5.2 Sources of Information ......................................................................................................... 17
5.2.1 Primary sources ............................................................................................................. 17
5.2.2 Secondary sources ......................................................................................................... 17
5.3 Limitations of the study ........................................................................................................ 17
Chapter: Six.................................................................................................................................... 19
Research Findings and Analysis .................................................................................................... 19
6.1 Recruitment and Selection Practices of EXIM Bank Limited .............................................. 19
6.1.1 Definition of Recruitment ............................................................................................. 19
6.1.2 Recruitment Methods .................................................................................................... 19
6.1.3 The department of recruitment ...................................................................................... 19
6.1.4 Recruitment Policy in EXIM Bank Ltd......................................................................... 19
6.1.5 Responsibility of HR Management ............................................................................... 20
6.1.6 Basis of Recruitment ..................................................................................................... 20
6.1.7 General Requirements for all grades ............................................................................. 20
6.1.8 Written Test ................................................................................................................... 20
6.1.9 Job Circular of EXIM Bank Limited............................................................................. 21
6.1.10 Authority for Recruitment ........................................................................................... 21
6.1.11 Background Checking ................................................................................................. 22
6.1.12 Job Responsibilities of Recruitment ............................................................................ 22
6.1.13 Objectives of Recruitment ........................................................................................... 22
6.1.14 Verification of certification ......................................................................................... 22
6.1.15 Verification of past service records ............................................................................. 22
6.1.16 Disqualification for Recruitment ................................................................................. 23
6.1.17 Re-Employments ......................................................................................................... 23
6.1.18 Vacancies .................................................................................................................... 23
6.1.19 Eligibility to Apply...................................................................................................... 23
6.1.20 Requirement Analysis by Respective Department ...................................................... 23
6.2 General Banking ................................................................................................................... 24
6.2.1 Components of General Banking .................................................................................. 24
6.2.2 The Procedure of opening account ................................................................................ 24
6.2.3 General requirement for opening MSD/MSTD account ............................................... 25

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 6.2.4 Various Types of Deposit Account ............................................................................... 26
6.2.5 EXIM Monthly Hajj Deposit......................................................................................... 34
6.2.6 Mudaraba Senior Monthly Savings Scheme ................................................................. 34
6.2.7 Issuance of Cheque Book .............................................................................................. 35
6.2.8 SMS Banking ................................................................................................................ 37
6.2.9 Clearing Section ............................................................................................................ 37
6.2.10 Remittance Section...................................................................................................... 40
Chapter: Seven ............................................................................................................................... 43
Summary of Findings ..................................................................................................................... 43
7.1 HR Division.......................................................................................................................... 43
7.2 General Banking Section ...................................................................................................... 43
Chapter: Eight ................................................................................................................................ 45
Recommendations and Conclusion ................................................................................................ 45
8.1 Recommendations ................................................................................................................ 45
8.2 Conclusion ............................................................................................................................ 46
References ...................................................................................................................................... 48
Appendix: List of Abbreviations .................................................................................................... 51
Appointment Letter ........................................................................................................................ 52

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List of Figures

Fig 1: Organogram of EXIM Bank Limited……………………………………………….7

Fig 2: Organizational Structure of EXIM Bank, Corporate HO Branch…………………..8
Fig 3: Organizational Chart of Head office………………………………………………..8
Fig 4: Account Opening Procedure………………………………………………………25
Fig 5: Annual Performance of Deposits………………………………………………….28
Fig 6: Weightage of MMSS account…………….………………………….……..……..29
Fig 7: Issuance of Cheque Book. …………………………………...…………………...36
Fig 8: EXIM Bank SMS Service……………….………………………………………...37

List of Tables

Table 1: Weightage of MTDR account……………………………………………..…….27

Table 2: Weightage of MMSS account…………………………………………….……..29
Table 3: Mudaraba Monthly Savings Scheme on maturity…………………………....…30
Table 4: Weightage of MMDS account……………………………………………….….31
Table 5: Weightage of MKDS account………………………………….…………….….31
Table 6: Mudaraba Su-Grihini Monthly Savings Scheme on maturity…………………..33
Table 7: Mudaraba Femina Monthly Savings Scheme on maturity………..…………….33
Table 8: Charges for P.O…………………………………………………………………41

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 Chapter: One

Introduction

1.1 Introduction
Generally, through the word "Bank," we can naturally recognize that the economic
association deals with money. But there are different categories of banking concern like;
Central Banks, Profitable Banks, Reserves Banks, Investment Banks, Manufacturing
Banks, Supportive Banks', etc. But once we use the word "Bank" without any introduction,
or essential, it states to the Commercial banks.' Commercial banks are the providers to the
economy of a country. The purpose of retail banking is to take profits by swapping of
money & credit rating legal instruments. Therefore, we can say the commercial bank is a
profit-making association that grips the sedimentation of individuals & business in
checking & protection accounts and then uses these funds to make loans. For these
multitudes, the government is highly dependent on these banks as the monetary
intermediary. The banking sector is accumulative its hired hand in different economic case
every twenty-four hours' time. Simultaneously, the banking attachment is pleasant faster,
easier and the business for senses of grind is approaching wider. As the request for better
service increase day by day, they are approaching with different innovative themes, ideas
& connection. All banking governing body is always willing to deliver better service
prospects to their fellow clients to survive in the competitive sphere of the banking sector.
As a result, for every individual to have some idea of the bank and finance process has
become important.
This sector in Bangladesh is experiencing a significant shift in the sense of economic dere
gulation and is opening up to competition with the entry of multinational banks and the gr
owth of high-tech infrastructure, current credit management, progressive performance
level and exciting customer satisfaction.
As a requirement for the Bachelor of Business Administration Degree, I was required to
complete this internship course of study. An internship program is important for every
student, particularly for the students of Business Administration, which supports them to
differentiate the legitimacy. This is why, students join an internship as a practical course of
the bachelor's degree, to start a career with some practical practice. It was a pleasure for me
getting selected to work as an Internee in Export Import Bank of Bangladesh Limited, Head
Office Corporate Branch. I underway to work there after having a conversation and getting

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consent, on the HR department in Head Office then transferred to the branch in "General
Banking Operation of EXIM Bank Limited."

1.2 Background of the study

This report is based on an internship program. Bangladesh University of Professionals
arranges internship program in attachment with different business administrations for its
students after the achievement of theoretic courses of program of Bachelor in Business
Administration (BBA). The interns must carry out a specific project, which is given by their
concerned supervisors. Therefore, a report based on the projects is to be submitted to the
supervisor.
In this detailed report, the author is the intern of the earlier stated program and the
organization he worked on EXIM BANK Ltd. Which is a prominent commercial and the
first Bank of Bangladesh that based on Islamic Shari’ah.
As instructed by Associate Professor Sumayya Begum. And since then I have started my
practical orientation program in Human Resource Department and General Banking
section. The report gives a general view of these departments.

1.3 Rationale of the study

The result of upward economy and evolving competitors in the field of the banking
industry, the customer outlooks have increased than ever before. Analyzing the current
condition, banks particularly the commercial banks are trying to come up with new
thoughts and facilities to attract more customers. Moreover, banks perform a significant
role to serve the needs of the society in various sectors for example: capital formation,
industrialization, a large scale of production, development of trade, commerce and foreign
exchange.
EXIM Bank Limited has already developed as a renowned bank because of its brilliant
customer service, foreign exchange and trade facilities. The bank accomplishes their all
activities according to the principles of Islamic Shariah where ‘Riba’ or interest is strictly
prohibited. In this report I have given all my efforts to signify my work experience and
knowledge about their performance, difficulties, chances and prospects on the ground of
banking activity.

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1.4 Objectives of the Study
The main determination of this report is to follow with the requirement of the EXIM Bank
Ltd. The objectives are categorized in the following:
➢ Applying theoretical knowledge in the practical field,
➢ Witnessing the working atmosphere in commercial banks,
➢ Realizing the HR function of the bank,
➢ Analyze, asses and evaluate the existing Recruitment and Selection Process of
EXIM Bank Ltd,
➢ Providing some positive recommendations for improving the existing Recruitment
and Selection Process of EXIM Bank Ltd,
➢ Establishing a bridge between the theories and hands-on processes of day-to-day
banking actions,
➢ Understanding the general banking function of the bank,
➢ Documenting the practical knowledge gained by working in different desks of
Corporate HO Branch of EXIM Bank,
➢ Having possible experiences that will be helpful for my future career.

1.5 Scope of the study

The report deals with the recruitment and selection practice in terms of academic point of
view and the practical use and delivers a lot of information about general banking activities
of EXIM Bank Limited. It will help to learn the practical measures followed by the
organization. Moreover, this report covers all the observations and work experience during
my internship period. It includes the different characteristics of general banking and HR
procedures and its effects on the act of the banking actions of EXIM Bank Limited.

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 Chapter: Two

Historical Background of EXIM Bank Limited

2.1 Historical Background

EXIM Bank Limited was established underneath the rules and guidelines of Bangladesh
Bank and the Bank companies’ Act 1991 on the 3rd August 1999 with the direction of Late
Mr. Shahjahan Kabir, founder chairman who had a long dream of free a commercial bank
which would subsidize to the social-economic development of our country. He had a long
experience and skills as a good banker. A group of highly capable and successful
entrepreneurs joined their hands with the founder chairman to happen his dream. Moreover,
all of them showed themselves in their particular business as the most effective star with
their intelligence, endeavor, hard work and talented entrepreneurship. Among them “Mr.
Nazrul Islam Mazumder” turn into the honorable chairman after the death of the honorable
founder chairman. From its very start, EXIM Bank Limited was known as BEXIM Bank
which stands for Bangladesh Export Import Bank Limited. Then for some legal
constrictions the bank retitled as EXIM Bank, which means Export Import Bank of
Bangladesh Limited.
The bank starts its action from 3rd August 1999 with Mr. Alamgir Kabir, FCA as the
advisor and Mr. Mohammad Lakiotullah as the Managing Director. Both of them have
valued knowledge in the economic sector of our country. By their practical decision and
management orders in the operational activities, this bank has acquired a secured and
unique position in the banking industry in terms of performance, growth, and excellent
management.

2.2 Company profile

Corporate information of EXIM Bank Limited
Name of the Bank: EXIM Bank Limited
Status: Private limited company
Date of incorporation: June 02, 1999
Authorized capital of EXIM Bank: Taka 20,000.00 million
Paid-up capital of EXIM Bank: Taka 14,122.51 million
Total number of employees: 2790
Total number of branches (including SME/Agriculture): 118
No of shareholders in EXIM Bank (31-12-2017): 80673
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Chairman of EXIM Bank: Mr. Md. Nazrul Islam Mazumder
Managing Director & CEO of EXIM Bank: Dr. Mohammad Haider Ali Miah
Subsidiary companies of EXIM Bank: EXIM Exchange Company (UK) Ltd, EXIM
Exchange
Company (Canada) Ltd, EXIM Islami Investment Limited (EIIL)
Location of Head Office: “SYMPHONY” Plot no. SE(F)-9, Road No.142, Gulshan
Avenue, Dhaka-1212, Bangladesh.

2.3 Mission
EXIM Bank gives emphasis to:

➢ Maintain excellent and quality customer service

➢ Provide corporate, business ethics and transparency at all levels
➢ Create technology based resourceful banking atmosphere for its customers
➢ Ensure bearable growth and create full value to the stakeholders
➢ Provide high quality financial facilities in export and import trade
➢ Add a remarkable influence to the national economy
➢ Retain sound capital base for its customers
➢ Fulfill its social obligations by increasing its charitable and humanitarian activities
➢ Display team spirit and professionalism in the workplace
➢ Make its product superior and rewarding to its customers

➢ Become a trusted repository of customers’ money and their financial consultant

2.4 Vision
The idea of Exim Bank’s vision is ‘Together towards Tomorrow’. Exim Bank Limited
trusts in inseparability with its valued clients, in its march on the road to growth and
development with outstanding service. To acquire these desired goals Exim Bank focuses
on continuous improvement at all stages because they think that the line of brilliance is
never ending. The organization relies on its strategic plans, policies and networking system
so that it can build up a competitive edge over others in the rapidly shifting competitive
environment. Its modified quality facilities to the customers with a trend of constant
development will be the foundation to achieve their operational success.

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2.5 Objectives of EXIM Bank Limited
➢ To provide welfare-oriented banking system all over the country

➢ To carry on, transact and conduct the business of banking in all its branches

➢ To categorize customers credit and other banking requirements and observe their
perception towards the performance in meeting the requirements
➢ To develop and train all the employees and deliver adequate resources so that customer
needs can be correctly addressed and fulfilled
➢ To review and update policies and procedures to improve the ability for providing better
facilities to their customers
➢ To uphold organizational success by openly collaborating company plans, policies and
procedures to all its employees at level

2.6 Corporate Culture

Corporate Culture has become a vital part of the business over the last two decades which
undoubtedly plays a very important role in corporations, employee behavior and
organizational operations. It is an important factor in business success or failure. Moreover,
a positive culture can be a major competitive advantage over organizations with which a
firm competes. EXIM Bank Limited, as a renowned bank, believes that if the employees
get to know about their organizational culture then the work environment will become more
pleasant and comfortable for them. Also, it will eventually boost their morale and lead to
increased levels of teamwork, cooperation, sharing of information, and openness to new
ideas and thoughts.

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2.7 Organogram of EXIM Bank Limited

Fig 1: Organogram of EXIM Bank Limited

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2.8 Organizational Structure of EXIM Bank, Corporate HO Branch

Branch Manager

2ND Officer

Investment Foreign Exchange General Banking

Executive Officer Executive Officer Executive Officer

Officer Officer Officer

Junior Officer Junior Officer Junior Officer

Assistant Officer Assistant Officer Assistant Officer

Trainee Assistant Officer Trainee Assistant Officer Trainee Assistant Officer

Fig 2: Organizational Structure of EXIM Bank, Corporate HO Branch

2.9 Organizational Chart of Head office

Fig 3: Organizational Chart of Head office

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2.10 Human Resource Practice in EXIM Bank
The authority of EXIM Bank Limited believes that their workers are their main asset
because they cannot operate their company without them. The human resources policy of
EXIM Bank is concerned with people's growth and development towards a higher level of
skills, innovation. This seeks to create an environment in which they can respond to the
weaknesses of their enhanced ability.

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 Chapter: Three

Duties and Responsibilities as an Intern

3.1 Internship-Time Duration

I have started my internship program in 07-01-2020. My office hour was 10 am to 3 pm,
when I entered into the office at first, I signed in the register book. My practical working
area and responsibilities that schedule was given by bank manager are summarized as
follows:
Department Time Duration

HR Division 7 days (working days)

General Banking 15 days (working days)

Investment 7 days (working days)

Foreign Exchange 12 days (working days)

3.2 Duties Performed in General Banking

3.2.1 Account opening section
I worked total three days in this section. This section is one of the biggest sections in this
branch. Because of a new client can enter banking system by opening the account. I provide
information about the account opening requirements to their clients. The functions of an
Account opening procedure are described below:
Step 1 1)The account must be correctly Introduced by any one of the followings:

2) A present Current account holder of the Bank.

3) Officials of the Bank not under the rank of an Assistant officer.

4) A respectable person of the area well known to the manager/sub manager of the
branch concerned.

Step 2 Receiving complete up application in Banks agreed form mentioning what type of
account is looked-for to be opened.

Step 3 1) The form is complete up by the applicant himself/herself.

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 2) 2 duplicates of passport size photographs from individual are taken; in case of
firms photographs of all associates are taken.

3)Applicants must submit required papers

4) Applicant must sign specimen signature and A/C number confirmed by legal
officer.

Step 4 Authorized Officer accepts the application.

Step 5 Minimum balance is deposited, only cash is accepted.

Step 6 Account is opened and a cheque book and pay in slip book is specified.

3.2.2 Cash Section

The banking actions, cash section play an important role. It does the main function of a
commercial bank receiving the deposit and paying the cash on demand. As this department
deals directly with the customers, the reputation of bank depends much on it. The purposes
of a cash section are designated below:
Telegraphic Transfer (TT), Pay Order (PO), Demand Draft (DD) section
At the point when broadcast exchange came to the TT area, I enter them in charge voucher,
where I guarantee that name account number, TT number and dates are effectively
imprinted on the TT voucher. Consequently, I ensure the mark of two officers and finally
sent this voucher to the PC division. In PO and DD area I was in charge of similar
obligations. There I played out an obligation of influencing a PO and DD area to leaf, where
I guarantee name of the association, information and measure of cash and mark of two
officers.
Clearing Section
I worked one day in this section. When clients deposit their cheque with deposit receipt at
first, I verified of the deposit receipt such as account number, account holder name,
signature, date, cheque number, name of issuing bank ire attached. After this I sent it to my
senior officer. He was responsible for entry to the computer and completing the other tasks.

3.3 Duties performed in Foreign Exchange Department

Import section
I showed L/C opening form and knew what documents and paper was needed to open it. I
wrote some Ks date, US dollar and Taka amount, serial number on the L/Cs cover page
when an amendment or discrepancy occurred. I showed how lodgment was, collected fax

11
information and gave seal and serial number. I also showed how they would gave payment
after receiving document and necessary papers to the as per L/C terms and conditions that
are known as retirement of L/C.
Export Section
I showed back to back L/C. I wrote some voucher as a charger for Export, Discrepancy etc.
I knew how FBP and IBP are parched
Foreign Remittance Section
I filled up FTT form, wrote 25 form for client who applied for us dollar to go to China. I
gave an entry 28 refund share in computer. I also showed how US dollar payments are
transferred into taka. I wrote 6 from named as “form C”. I also collected 5 TT faxes,
numbering them, sealing them and gave entry into register book.

3.4 Duties performed in Investment Department

• All types of venture mechanism
• Different special investment scheme
• Advantage & Disadvantage of each mode of investment.
3.5 Duties performed in HR Department
• Update our internal databases with new employee information, including contact
details and employment forms
• Gather payroll data like leaves, working hours and bank accounts
• Screen resumes and application forms
• List and confirm interviews with applicants
• Post, update and remove job ads from job panels, jobs pages and social networks
• Prepare HR-related reports as required (like training funds by department)
• Address employee queries about benefits (like number of remaining vacation days)
• Review and distribute company policies in digital formats or hard copies
• Participate in organizing company events and careers days

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 Chapter: Four

Literature Review

4.1 Related Literature (HRM)

Human resource management (HRM) is measured as a critical organizational source that

supports an organization sustain its effective action. It is a vital area that impacts a number
of employees' attitudes and behavior such as tendency to leave, heights of job satisfaction,
and organizational commitment (Lee & Heard, 2000). Pfeffer recommended that soft or
high commitment human resource management practices are those that produce trust in
employees and these practices contain giving employees authorization and participation in
decision making, widespread communication about operative and performance of the
employees service, designing training for skills and personal growth of employees,
selective employment, team-working where idea are shared and creative solutions are
encouraged, rewards system that commensurate with effort, reduction of status amongst the
management and staff and all workers are valued regardless of their role (Pfeffer, 1998).
Recruitment and selection were positively linked to all variables of organizational
performance such as efficiency, innovation and quality (Katou and Budhwar, 2007). As per
Mondy and Noe,” Staffing, return and benefits, safety and health, HR department, and
employer and labor relations are the functional areas of HRM” (Mondy and Noe, 2005).
Recruitment and selection, job design, socialization, Career development, training, reward
for employees, communication/participation, management of performance and job security
are the best HR practices (Huselid, 1995). As per Aswathappa “To inspire its workers, the
company should have good HR strategies” (Aswathappa, 2008). According to Macky &
Boxall, the scientific literature accepts a causal connection flowing from HRM practices to
organizational performance via the responses of employees (Macky & Boxall, 2007).
Organizations that do not pay impartially compared to others may lose their employees
because of the non-competitive compensation bundle or package (Adams, 1965). HRM
refers to Policies and practices related to the implementation of human resources
management aspects, including human resources forecasting, job analysis, enrollment etc.
(Dessler, 2007). According to Lawler, society has arrived a new period of time where it
focuses on the connection between organizations and their employees. In this new age,
people are the prime source for a company’s competitive gain and organizational prosperity

13
and survival depends on how workers are treated (Lawler, 2005). The ‘human’ aspect of
HRM is concerned with the affiliation between employer and employee and is connected
with the human relations program and the concept of high commitment work performs
established till the day (Walton, 1985). Training and development have a significant
positive impact on employees’ job satisfaction (Garcia, 2005). Involuntary turnover is
affected by staffing (selection and recruitment) and staff surveillance (performance
assessment) (Shaw et al, 1998). Buck and Watson derived nine important Human Resource
management practices which are Decentralization, payment, engagement, training and
development, job security, social interaction, style management, communication and
assessment of results. Klaus, LeRouge and Blanton have said that employees can show
greater commitment and lead to better work performance through better job assignment or
work design (LeRouge, Klaus, and Blanton, 2003).
Functions of HRM
The role of HRM is significant to achieve the goals and purposes of the organization. It is
the value chain of the organization and enhance competitive advantage in the world of
business. “The term Human Resource Management is all about planning the goal of the
organization, organizing and directing employee’s, monitoring of the procurement, develop
the skill of the employee, compensation, and fulfill the total objectives of the organization”
defined by (Flippo, 2017). The HR function has been postulated as six strategic menus from
which companies chose most appropriate practices. Recruitment is another key factor of
human resource management. Training is the most important process of HRM functions.
“It is important to examine as to how organization’s employees enable as organization to
achieve its goals”, (Fisher, 2016). HRM regards training and development function as per
organizational activity and requirement for the advancement of the job performance of
individuals and group organizational settings. Success of the business depends only on the
performance of employee. The performance management works for enlightening their
performance. Performance depends on the activity of the employee and tests activities are
provide outcomes which lead an organization for success and help to achieve goal. Pay
structure is the system to pay the salary or wages to the employees for their work.
Implementing strategies depend on the pay system (De Cieri, 2008). It is a term to describe
company’s effort for managing relationships between employee and employers. HRM main
function is developing and allocating human resources in the most effective manner and
providing work friendly environment. (Gupta, 2007) discussed the importance of Human

14
Resource Management at four levels – Corporate Level, Professional Level, Social Level
and National Level".

Human Resource in Banking Industry

The banking industry is the backbone for the growth of any economy. The banking industry
is a significant element of the financial area for proper management of financial resources
across the world (Ahmad Ashfaq et al, 2010). It is calculated as a hub and barometer of the
financial structure in a country. Banking sector plays a crucial role in the economic growth
of the country and is amongst the oldest areas of the country. Bangladesh is an emerging
economic power with a big pool of human and natural resources, and a growing large pool
of skilled professionals. Banking Sector of Bangladesh is most developed, organized and
diversified sector. This sector is a vital tool for smoothing the expansion of Economy. In
order to this industry to the altitudes of international distinction, it needs to have a blend of
newest technologies, improved systems of credit, supervision of treasury, product variation,
internal & external controlled protocols and human resources at the most. The extent of
Objectives & Challenges met will mainly depend on the degree to which the bank’s power
their primary assets i.e., Human Resources in the background of the changing economic &
business environment. Banking being a service sector industry, productivity and
commitment of the staff have a significant effect on the total performance of banks. Due to
the essentially close ties amongst employees and customers, losing expert employees may
result in loss of valuable customer relationships. Thus, the focus on the banking industry is
about employee retaining from all levels, later introduced the HR systems, procedures,
policy and practices with the focus on their employees. There is a new alertness to the
reflective impression of human nature in the workplace. The Industry has recognized
management of human resources as the key to future success. If any organization wants to
operate its business smoothly, effectively and efficiently, the most precious and essential
factor that organizations need is human being or the Employees that is why Human
Resource Management is important for Banks (Mosadragh, 2003). Well-qualified and
skilled employees are important in the context of attaining goals and objectives of an
organization. The success of an organization completely depends on the three basic things
as hard work, loyalty, and involvement of staff members. When the time of personnel
management system was not this much well-structured, humans were treated as a machine
because of which the performance could be manipulated for the benefit of the organization.
Also, the policies of the organization were less flexible and organizations were centralized.

15
But after the appearance of a conception of HRM, the organizations found more flexible &
decentralized which is more compatible with the organic structure and has cross-cultural
and cross hierarchical system. Given by (Shahnawaz M.G et al, 2006) that Human Resource
Management takes the entire organization as a central point for analysis.

4.2 Related Literature (General Banking)

Banking: The word “banking” has been well-defined to mean the accepting, for the
resolution of lending or investment, of deposit of money from the public, repayable on
request or otherwise, and drawing by cheque, draft, order or otherwise.

General Banking: General Banking Department is measured as the direct customer service
midpoint. It is the preliminary point of all the banking action. It opens new accounts,
concerns funds, honor cheque, takes deposits, issues bank draft and pay order etc. General
Banking is also recognized as retail banking.

“The bank is one of the financial organizations. But it varies from other firm because the
bank gathers money from customer as a deposit and gives money to customer as a loan. So,
the bank acts as financial mediators between the depositors and borrowers. Deposits are
responsibilities to the bank. Deposit must be sustained by the bank to maximize the profit”.
(Shelagh Heffernan 2005). “The bank keeps financial report such as balance sheet and
profit and loss account to measure their financial presentation. Key source of bank is a
customer deposit. Deposits are described on the balance sheet as a liability. These deposits
are used by the bank for investment. This is assets for the bank. The bank capital arises
from different between the total liability and total asset. On the other hand, bank increasing
their fund by issuing bonds and equity”. (Barbara Casu 2006)

In Bangladesh, however, there is a huge research gap in these areas, especially on banking
sector-HR practices existing in banking sector also the general banking to improve the
customer service and their banking experience. Hence, the study is undertaken to find out
the impact of the practices of overall HR functions like- employee’s job satisfaction,
working environment, the human resource planning, recruitment and selection, training and
development, compensation policy, performance appraisal and industrial relations has
considered as HRM aspects and also the general banking activities.

16
 Chapter: Five

Methodology

5.1 Methodology of the study

The study completed based on the information take out from different sources collected by
using specific methodology. The methods of finishing the study have included some steps,
which followed one by one. First selected the topic of the study then collected information
relating to the topic by primary and secondary sources and through personal experience.
As an intern of EXIM bank, it was easy for me to collect data. After assembly the
information determined the process of research. Through this research the evidence can be
collected of a problem which needs further analysis. In addition to that, I want to gather
information about "Recruitment and Selection Practice of EXIM Bank Limited ".
Moreover, qualitative research is the method of research which provides answers of views
and opinions. The research assistances to get in depth information about topic.

5.2 Sources of Information

I have gathered data from the two unique sources. These two sources are as following:

5.2.1 Primary sources

• Practical experience of banking.
• Training and discussing with our supervisor and manager.
5.2.2 Secondary sources
• Annual report, Audit report of EXIM Bank
• Banking related text books, newspapers, journals & manuals.
• Class notes, internship book of EXIM bank
• Related files & different reference books of the library
• Website of EXIM Bank Bangladesh Limited.
5.3 Limitations of the study
Objective of the everyday alignment program is to have practical experience for the
students. My permanent status was for only three months, which was somehow not
sufficient enough to gather adequate experience of such vast banking business. Finally, I
thought it would be the following aspects:
➢ Lack of Time: The time period for this study was very brief, which was not enough.
So, I could not go in depth analysis.

17
➢ Insufficient Data: Some essentials information could not be collected due to
confidentiality of business.
➢ Lack of Monitory Support: Few officials sometimes felt disturbed, when they were
busy with their tasks. Sometimes, they didn’t want to oversee due to pressure of
work load. Sometimes the officers were busy & were not able to give much time.
➢ Lack of Information: Getting some of the relevant papers is not published. The
division only permitted me to assessment their resources. Some information
conducted directly by the top management level which may also have some sort of
restrictions.
➢ Lack of Experience: Preparing a formal document like internship report requires
some prior experience in this field. As new, there is an absence of earlier experience
in this nervousness. And many practical stuffs have been inscribed from my own
opinion that may vary from person to person. I have tried my near best to diminish
the misrepresentation or biasness of data that I have used in this report.
➢ Other Limitations:
▪ The supervises of the branch were some time so busy that they could not help
us all time.
▪ Examining with financial information is much more confusing and complex
than any other data.
▪ There was no particular space for the interns. Sometimes they made us sit in
officers dining room and most of the time we have worked by standing.

18
 Chapter: Six

Research Findings and Analysis

6.1 Recruitment and Selection Practices of EXIM Bank Limited

6.1.1 Definition of Recruitment
The performance of the human resources of a company depends on the quality of their
employees. Recruitment is the process of finding and recruiting eligible job applicants. The
process starts with the submission of the applications and concludes when new staffs are
recruited. The outcome is a list of candidates from which to pick new employees. Managers
get engaged because they want the best employees they can get, and they often know where
to find eligible employees. The HR strategy can be particularly useful because it
demonstrates both current and potential gap in the future to the recruiter.
6.1.2 Recruitment Methods
EXIM BANK has two forms of recruitment -
• Annual recruitment: This is performed annually according to the HR plan.
• Need based-requirement: This happens when a sudden vacancy occurs.
6.1.3 The department of recruitment
The recruitment department of EXIM Bank is very creative, smart, hard-working,
professional and dedicated to any role they are appointed to. The work pressure as well as
the work load of this department is very high. They try their level best to handle this
recruitment processing in a perfect way. The whole human resource department is divided
into two sectors and they are HR core team and HR relationship team.
6.1.4 Recruitment Policy in EXIM Bank Ltd
• All regular personnel must be recruited by the Managing Director.
• The Head of Human Resource Division appoints all HR contract and outsource
personnel.
• The recruitment plan will be defined in accordance with the Service Level
Agreement (SLA).
• The selection board will be chaired by the head of the department and the head of
HR.
• After the interview, officer (grade one) and officer (grade two) may designate.
• There will be a second interview for the senior officer and more.

19
 • For internal job posting, the applicant can only apply if he has more than two years
of service in EXIM bank and the employee's reporting supervisor also has to
approve the candidate's application.
• The employee of the HR Contract may apply for a regular post after serving the
EXIM Bank for more than one year.
• Since working in EXIM Bank for over three years, outsource workers may also
apply for the regular post.
• Newly hired employee will be subject to a probationary period of one year.
6.1.5 Responsibility of HR Management
Human Resource Division of EXIM Bank consists of four functions:
• Staffing
• Training and Development
• Motivation and
• Maintenance
6.1.6 Basis of Recruitment
Recruitment will need to be based on all grades. When determining human resource needs,
the following considerations will be considered, among others:
• Development in the Bank's sector.
• Possible growth of branch network.
• Adding new obligations as a result of the regulatory framework changes.
• Vacancies resulting from promotion, resignation, death, etc.
• Requirement of succession.
The Bank's management will evaluate the Branches / Offices ' manpower requirement at
least once a calendar year — preferably in January or December. After evaluating the need
for manpower in line with the branch/officer organ gram the management will hire the
desired number of applicants according to the recruitment policy. All hires will be taken in
compliance with EXIM Bank Limited and standards/guidelines of Bangladesh Bank.
6.1.7 General Requirements for all grades
• Must be a citizen of Bangladesh.
• Have to be suitable both physically and mentally.
• Age limit is 30 years.
• Age certification need to be approved by S.S.C or equivalent / school leave
certificate must be submitted.
6.1.8 Written Test
Hiring of Probationary Officers is provided by national Newspapers each year through
advertisement. BIBM or IBA, DU shall prepare a written test for choosing probationary

20
officers. The task of performing the written test may be assigned to any other competent
organization if those are unavailable.
6.1.9 Job Circular of EXIM Bank Limited

Source: EXIM Bank Website

6.1.10 Authority for Recruitment:

Approval of recruitment will be maintained by the recruitment policy made by Bangladesh
Bank.

21
6.1.11 Background Checking
Background checking consists of checking the educational and professional history as well
as other required information of the employees. It should be done before they enter into
the bank.
6.1.12 Job Responsibilities of Recruitment
• Screening of the CV.
• The preparation of each employee's personal records.
• Employees who are selected for the interview as well as those who are recruited
for the data entry.
• Check references and submit mails.
• Making phone calls.
• Helping the workers out when work is overwhelmed.
• Employee assurance of past employment status at EXIM Bank Ltd.
• Check the rating for PM.
• Worked in the promotional review as an invigilator.
• Coordinate the date and time of the interview.

6.1.13 Objectives of Recruitment

• Attracting, recruiting and hiring the most skilled and experienced candidates.
• Maintain the hiring strategy of EXIM Bank.
• Perform all selection steps when and where appropriate.
• To make sure that the selection processing is perfect, task-oriented, impartial and
based on merit.
• Determine the organization's current and future needs in accordance with its HR
planning and task appraisal activities by increasing the number of job applicants at
a lowest possible cost.

6.1.14 Verification of certification

The management can check the authenticity of any credential or testimonial received by
any employee from any education board / university / institution.
6.1.15 Verification of past service records
The Bank's management can investigate a lateral entrant's past service records or check
the validity of any certificate or testimonial submitted by any adjacent entrant with respect
to his / her experience or qualification, rendering him/her accountable for punishment under
the Bangladesh
Limited Employee's Export Import Bank (Discipline & Apparel) Rules-2003.

22
6.1.16 Disqualification for Recruitment
• A person under the age of 18 shall not be recruited.
• Mentally unfit person.
• A person who has been forced to retire from government job.

6.1.17 Re-Employments
A former employee can be re-employed by a new hire without having any association with
his / her previous job. Former employees can be eligible for re-employment by open
competition if they have been retrenched from resigning due to personal issues. The
confidential personal file to be checked to confirm that the individual being considered for
re-employment is not classified as 'DO NOT RE-HIRE’. Re-employment in both situations
will be competitive rather than automatic. Moreover, the previous salary of the employee
will be taken into consideration in the case of reduction and re-employment in the same
job. Some types of conditions of resignation also preclude the re-employment of a person,
including forced resignation, protest resignation, resigned during probation period and poor
performing employees during probation period.
6.1.18 Vacancies
Vacancies that arise when new vacancies are created or the current position is removed
from the EXIM Bank Limited or transferred to a different position.
6.1.19 Eligibility to Apply
All vacancies will be available to eligible internal and external applicants as a general rule.
The employees of EXIM Bank may apply for any position where they are eligible. Any
employee with required qualifications and experience can apply for the advertised position
directly to HR Department regardless of their current grade. All vacancies must, as a
general rule, be available to eligible internal and external applicants.
6.1.20 Requirement Analysis by Respective Department
When a position within the company becomes open, the departmental head concerned
must assess the need for new employees. While deciding the need, the department
concerned must fill out a Personnel requisition form (PRF) and send it to the HR
department. The PRF will contain the following information:
• Job position.
• Job description.
• Educational qualification.
• Experience in details.

23
6.2 General Banking
All business concerns make a turnover through trade of either a product or service. A bank
does not produce any tangible product to sell nevertheless does offer a variety of financial
services to customers. General Banking Section is measured as the direct customer service
center. It is the starting point of all the banking process. This department represents one of
the most significant roles in the commercial banks. And this department helps in taking
deposits and alongside provides some ancillaries services and daily facilities to the
customers as well. Every day it receives deposits from the clients and meets their request
for cash by honoring cheques.
6.2.1 Components of General Banking
General Banking contains of the following units in the branch. These are as follows:
• Account opening
• Account closing
• Deposits Account
• Issuance of cheque book
• Issuance of Debit Card and solve the complications related with the SMS Banking
• Clearing cheques.
• Provide foreign remittance services.

6.2.2 The Procedure of opening account

It is alleged that there is no manager customer connection if there is no account of a person

in that bank. By opening an account banker and customer create a promised relationship.
However, it is very critical for a Bank to select a new customer for opening an account.
Before the opening of an account, the following procedures must be completed by the
client:

24
 Fig 4: Account Opening Procedure

Step1: Bank provides account introductory form to the prospective client or applicant
Step 2: Applicant fills up the form.
Step 3: Application complies the form duly signed by an introducer and along with two
passport size photos attested from the introducer.
Step 4: The approved officer analyzes the form.
Step 5: If no errors are found, the officer will continue with the account opening.
Step 6: He/ She will issue a deposit slip where a deposit needs to be made.
Step 7: Then, he/she will issue the checkbook with the Signature card to confirm the
customer.
Step 8: Bank conserves the sample.
Step 9: Account is opened.
6.2.3 General requirement for opening MSD/MSTD account
• Account opening form to be filled in and signed by the account holders.
• Introduction by an existing account holder with signature and account number or
any other person acceptable to the bank.
• Two copies of contemporary passport size photographs of each account holders
attested by the introducer.
• 1 copy pp size photo of the nominee attested by the account holder himself.

25
Additional documents that required for opening accounts
The rules and regulations to open a new account may differ from person to person,
depending the type of account customer wishes to obtain. First of all, differences of
customers such as individual, joint, proprietorship, partnership, private limited company,
public limited company, associations, club, societies, trusts, etc. can open their many types
of accounts conferring to their necessities which are as follows:
Individual and Joint Account
• A Copy of passport/ national ID card/ driving license/ office id/ word commissioner
certificate, any ID acceptable to the bank.
• Attested photocopy of passport with visa for foreign Currency Account.
• Joint account statement form for the Joint account.
• TIN Certificate.
Proprietorship Account
• Declaration form of sole proprietorship from the bank must be filled up,
• TIN Certificate,
• Submission a copy of trade license.
Partnership Account
• A Copy of registered partnership deed,
• Submission of a copy of partnership deed,
• Association letter duly signed by all partners,
• Copy of trade license,
• Photocopy of company TIN,
• List of partners with complete address and contact number

6.2.4 Various Types of Deposit Account

EXIM BANK offers following types of deposit account:

MSD (Mudaraba Saving Deposit)

Profit is payable to the customer in this savings account. The bank permits depositors to
open an essential savings account by inspiring funds habit amongst the general community.
As the title indicates, these accounts are used and opened as the savings account. Two types
of saving accounts are accessible entitling as "Single Saving Account," and "Joint Saving
Account." At last an amount of Tk. 1000/= is needed for opening this type of account, and
its charges yearly are Tk.250/=. A saver will be allowed to withdraw per week up to 25%
of the balance of his account.

26
MTDR (Mudaraba Term Deposit Receipt)
It is a specific dated deposit scheme, which does not refund until the maturity date of that
fixed period reaches. The bank provides higher rates of profit on such deposits. Usually,
customers are allowed to open this account for a period. Any matured person (individually
or jointly) having sound mind can request to open the MTDR account in any branch of
Exim bank with a deposit of minimum Tk10, 000/- and higher but multiple of Tk. 100.00.
Some accounts can be opened in the similar name at the similar different branches of this
bank.
Deposit of MTDR A/c will accept the following weightage:

Term/ Period Weightage

01months 0.83

02 months 0.83

03 months 0.88

06 months 0.92

1year/2year/3year 0.96
Table 1: Weightage of MTDR account

Terms and Conditions of MTDR

The sum deposited for MTDR is not cashable before maturity in general. If any investors
wish to cash his/her MTDR Reception before maturity due date in some understandable
circumstances, the following terms and conditions will come into force:
• No profit will be allowed for premature encashment within 01 months.
• If the account is cashed at the end of tenancy but before maturity, depositors will
be entitled to get the benefit at the provisional rate of profit from Mudaraba Savings
Account.
• The restricted rate of profit of Mudaraba Savings Account will treat the provisional
rate of profit, which was overcame while having the MTDR account.
Premature encashment of the scheme
• In the situation of premature encashment before 1 year no profit shall be paid.
• In the circumstance of premature encashment after 1 year but earlier 3 years profit
will be paid at Savings Rate plus 0.75%.

27
 • In the case of premature encashment after 3 years but earlier maturity profit will be
paid at Savings Rate plus 1.00%.
• In the case of any unexpected situation:
• In the case of passing away of the investor before the term, the expense will be
provided to the nominee as per the rules of premature encashment.
In case of any unexpected situation

In the case of passing away of the investor before the term, the expense will be given to the
nominee according to the rules of premature encashment.
Annual Performance of Deposits

Deposit & 2012 2013 2014 2015 2016

Other
Acccounts

MSD 22,921,264,217 24,927,976,424 28,988,026,824 30,553,035,817 33,037,692,322

MTDR 37,904,753,384 53,222,103,744 85,445,903,244 105,758,602,530 130,654,756,285

Deposits 140,369.66 165,733.25 200,294.38 225,064.54 248,540.44

Source: Annual Report

Annual Performance of Deposits

140,000,000,000

120,000,000,000

100,000,000,000

80,000,000,000

60,000,000,000

40,000,000,000

20,000,000,000

0 2012 2013 2014 2015 2016

MSD 22,921,264,217 24,927,976,424 28,988,026,824 30,553,035,817 33,037,692,322
MTDR 37,904,753,384 53,222,103,744 85,445,903,244 105,758,602,530 130,654,756,285
Deposits 140,369.66 165,733.25 200,294.38 225,064.54 248,540.44
MSD MTDR Deposits Linear (Deposits)

Fig 5: Annual Performance of Deposits

28
Mudaraba Monthly Savings Scheme (MMSS)

It is a once-a-month delivery scheme that safeguards future with fewer tensions and more
ease. A minor savings of today will provide a comfort for the next day.

Period of Savings and Installment Rate Per Month

• The savings period is for 3,5,8,10, or 12 years and the payment is tk 500/, 1000/,
2000/, or 5000 consequently.
• Bank has the right to change the weightage of deposit.

Deposit will bear the following weightage

Term Weightage
03Years 7.18%
05 Years 7.28%
08 Years 7.43%
10 Years 7.53%
12 Years 7.63%

Table 2: Weightage of MMSS account

Weightage
7.70%

7.60%

7.50%

7.40%

7.30%

7.20%

7.10%

7.00%

6.90%
03Years 05 Years 08 Years 10 Years 12 Years
Weightage 7.18% 7.28% 7.43% 7.53% 7.63%

Figure 6: Weightage of MMSS account

29
The welfare that will get from MSS is given below

Term TK 1000 Tk 2000 Tk 5000 Tk 10,000 Tk 20,000

03 years @ 40,277 80,555 2,01,388 4,02,777 8,05,555

7.18%
05 years @ 72,551 72,551 3,62,758 7,255,16 14,51,032
7.28%
08 years @ 1,31,407 1,31,407 6,57,038 1,31,4079 26,28,153
7.43%
10 years @ 1,79,344 1,79,344 8,96,723 1,79,3447 35,86,895
7.53%
12 years @ 2,35,993 2,35,993 11,79,965 2,55,9931 47,19,863
7.63%
Table 3: Mudaraba Monthly Savings Scheme on maturity
Withdrawal
• What coitus interrupts is not advised before a 5 (five)-year term, but if it is
withdrawn before the above time, revenue will be waged at savings rate.
Nonetheless, no profit will be compensated if the deposit is withdrawn within 1 year
of opening the account.
• In circumstance the investor wishes to draw between the 5, 8, 10- or 12-years period
then the total profit will be paid for a accomplished term and savings rate will be
applicable for the minor period.
Reasons for Disqualifications from the scheme

• If the depositor fails to pay 3 parts in a row, then he/she will be disqualified from
this scheme and profit will be valid as stated in withdrawal clause.
• If a depositor fails to pay 5 payments in a row, then the Bank has the right to close
the account and profit will be paid as stated in withdrawal section.
• In case the depositor passes away, the structure will conclude its function. The
amount will be handed over
• to the nominee of the departed depositor.
Mudaraba Millionaire Deposit Scheme & Mudaraba Kotipoti Saving Scheme Objectives
• A scheduled savings Scheme that helps the clients of all contests & societies
maximization their wealth by providing the remarkable return of their reserves.
• It is a savings scheme which supports the customers of all level in creating the
positive contribution to their family by providing a fund in family's financial crises.

30
Requirements
• Two copies of current passport size photographs of the account holder.
• Copy of Passport/National ID Card/ Ward Commissioner's Certificate of the
account holder adequate to the bank
• One copy recent passport size photograph of nominee attested by the account holder
Features and Benefits of both MMDS & MKSS
• Deposit on scheduled payment basis,
• Attractive rate of turnover,
• Allowed to open several MMDS Account with different amount in any branch of
the Bank,
• Monthly installment can be located through a standing debit training from the
designated Mudaraba CD/SB Account,
• The reserves period is for 3,5,8,10 & 12 years,
• Bank has the right to adjust the weight of deposit and proportion of circulation of
Investment income.
Deposit will bear the following weightage of MMDS

Tenure Profit Rate Monthly Installment Expected Amount

03 years 7.28% 24,790 10,00,000
05 years 7.38% 13,750 10,00,000
08 years 7.53% 7,578 10,00,000
10 years 7.63% 5,545 10,00,000
12 years 7.73% 4,210 10,00,000
15 years 7.88% 2,902 10,00,000
Table 4: Weightage of MMDS account
Deposit will bear the following weightage of MKDS

Tenure Profit Rate Monthly Expected amount

Installment
03 years 7.23 2,48,079 1,00,00,000
05 years 7.33 1,37,650 1,00,00,000
08 years 7.48 75,933 1,00,00,000
10 years 7.58 55,603 1,00,00,000
12 years 7.68 42,230 1,00,00,000
15 years 7.83 29,148 1,00,00,000
18 years 7.98 20,739 1,00,00,000

Table 5: Weightage of MKDS account

31
Withdrawal
Deposited amount of Mudaraba Millionaire Deposit Scheme & Mudaraba Kotipoti Saving
Scheme is not encashable before maturity in general. If any depositor wishes to en-cash
his/her account before maturity due to certain unavoidable circumstance the following
terms and conditions will be applied:
• Profit will not be allowed for premature encashment within one year
• Benefit will be allowed at the provisional rate of Mudaraba Savings Deposit if it is
en-cashed after 1 year but before maturity

Reasons for disqualification from this scheme

• If any investor fails to pay 03 consecutive payments at any point in time, it will
terminate the right of an investor to remain within the purview of the account and
profit against the balance of deposited amount will be allowed as per terms &
conditions for early encashment.
• In the case of death of account holder, the account will stop its operation, and the
total deposited amount with profit (conditions applied) will be paid to the nominee
or the legal protector of the minor nominee(s) as per mentioned in the form while
opening the account. The same will be paid to the legal guardian of in case the
nominee is minor. Otherwise, the total amount will be released as per rules in force.

Mudaraba Su-Grehini Monthly Savings Scheme & Mudaraba Femina Monthly Savings
Scheme Objective

Mudaraba Su-Grehini Monthly Savings Scheme Mudaraba Femina Monthly Savings Scheme

A scheduled advantage scheme that help the A proposed advantage scheme that helps the
housewives of all contests & societies female employees in making affirmative
maximization their affluence by providing contribution to their family the by providing
extraordinary return of their savings. fund in family's economic crises.

Requirements of both MSGMSS & MFMSS

• Single copy passport size snap of candidate attested by the account holder
• Two copies of current passport size snaps of account holder
• Under the scheme cheque book will not be issued
• Bank has the right any alteration/ modifies the weightage, profit circulation
principles or other rules of the scheme at any time as per Bank's standard & policy.
• Any change of the information furnished by the customer herewith must be notified
to the bank immediately.

32
The welfare that will get from MSGMSS is given below: (as on 01/01/2017)

Term Tk 1,000 Tk 2,000 Tk 5,000 Tk 10,000 Tk 20,000

03 years 40,773 81,547 2,03,867 4,07,734 8,15,467
@7.95%
05 years 74,066 1,48,132 3,70,331 7,40,662 14,81,325
@8.05%
08 years 1,35,963 2,71,926 6,79,814 13,59,628 27,19,257
@8.20%
10 years 1,87,327 3,74,653 9,36,633 1,873,266 37,46,532
@8.30%
12 years 2,48,946 4,97,892 1,244,731 24,89,462 49,78,924
@8.40%
Table 6: Mudaraba Su-Grihini Monthly Savings Scheme on maturity

The welfare that will get from MSGMSS is given below: (as on 01/01/2017)

Term Tk 1,000 Tk 2,000 Tk 5,000 Tk 10,000 Tk 20,000

03 years 40,709 81,417 2,03,543 4,07,086 8,14,171
@7.85%
05 years 73,867 1,47,735 3,69,337 7,38,673 14,77,346
@7.95%
08 years 1,35,360 2,70,721 6,76,801 13,53,06 27,07,206
@8.10%
10 years 1,86,266 3,72,531 9,31,328 18,62,656 37,25,312
@8.0%
12 years 2,47,216 4,94,432 12,36,079 24,72,158 49,44,315
@8.3
Table 7: Mudaraba Femina Monthly Savings Scheme on maturity

Encashment Rules both for MSGMSS & MFMSS

• In the case of early encashment of "Mudaraba Su-Grehini Monthly Benefit Deposit

System & Mudaraba Femina Monthly, Savings Scheme" no profit will be
remunerated to the investor.
• Typically, placed amount of Mudaraba Su-Grehini Monthly Savings Scheme &
Mudaraba Femina Monthly Benefit Scheme is not en-cashable prior maturity.
• Uncertainty, any investor expects to en-cash her account before maturity due to
certain unavoidable situations, the rules & regulations for premature encashment of
Mudaraba Monthly Savings Deposit Scheme will be followed. In the case of early
encashment of MSGMS & MFMS Scheme, no profit will be paid to the investor.

33
Reasons for prohibition from this scheme

In the case of demise of the account owner, the account will be defective, and the entire
deposited expense with revenue will be paid to the applicant as stated in the account
opening form. If the nominee is minor, the same will be given to the lawful custodian of
the juvenile.
In other cases, the expense will be unconfined as per rules in force.
6.2.5 EXIM Monthly Hajj Deposit
Given flat pre preparation for accomplishment Hajj, EXIM bank has declared this system
under the arrangement of 5, 8, 10, 15 and 20 years with the minor amount of payment per
month with a percentage of 11%.
6.2.6 Mudaraba Senior Monthly Savings Scheme
EXIM Bank monthly senior citizens account is recognized to endow inhabitants to transmit
out the daily banking transactions with assurance independently. This interpretation is
suitable for senior citizens who wish to have healthy returns on their savings. EXIM Bank
senior citizens account derives along with an extensive array of free services and benefits.
Objectives of the Scheme

• A scheduled Benefit Scheme that motivates the Senior Citizens of the society
towards savings of their dead money in the profitable deposit scheme.
• A scheduled Benefit Scheme that aids the matured people for keeping their hard-
earned money in valuable Account.

Features and Privileges

EXIM Bank has encompassed a bundle of value-added services which you can enjoy free
of cost with the Senior Citizen Account.
• The investments era is for 1 & 2 years.
• Accessible in Local Currency only
• Profit intended by weights for different tiers to benefit a higher balance with the
higher return.
• Complimentary first cheque book of 20 leaves.
• Supplementary services i.e. Pay Debit Card, Phone Banking, SMS Banking, e-
statements, Duplicate Account statements are accessible free of charge.
• Profit calculations on daily balance and credited to the account on a monthly basis.
• No slightest or extreme balance requirement.
• Unrestrained payments and extractions.

34
 • Assumed higher returns on maintaining the balance of PKR 250,000 in the account,
or else regular savings rate will be applicable.
• Concessional rates on yearly locker rentals and Pay Order/ Demand Draft rates will
be offered.
• All other charges as per Bank's schedule of charges.
The Procedure of Account Closing
• The terminating of an account may occur.
• If the customer is willing to close the account,
• If EXIM finds that the account is inactive for prolonged period,
• If EXIM Bank receives Garnishee order allotted by the court.
Cheque book has to be returned to the bank to close the account. EXIM receives the charges
from the debiting account, and the balance is paid to the customer. Essential entrances are
given to the account concluding register and computer. In the case of joint account, the
application for closing the account should be signed by all the joint holders.
Account concluding is similarly completed by account introductory section. The client may
close his/her/their interpretation of any period giving notice to the bank. Likewise, the bank
on sincere powdered may adjacent customer account giving reasonable notice to the action
or without any notice if the behavior of the account does not satisfy the bank or any other
reason whatsoever. In any case, the bank will understand a closing charge from the
customer's account. The normal bearing cost is Tk. 300 + 15% VAT. However, the
concluding charge of account in three months of preliminary is Tk.500 + 15% VAT.
To close an account

• Account holder needs applying in a specific form with full signature.

• He/she/they must submission the lasting cheque book issued by the bank.
• Verifying the signature and approved by operational head,
• Closing the account.
6.2.7 Issuance of Cheque Book
New cheque book is distributed to the account holder only against demand on the
prearranged requisition slip attached with the cheque book issued formerly, later the
account holder's signature verification or his duly authorized representative against proper
acknowledgment.
The In-charge of the departmental stocks of Cheque books will collect the appeal and allow
entering the DCBIR (Departmental Cheque Books Issued Register), and distinct foils in the
register which are allotted for CD accounts Cheque Books of 20, 50 and 100 leaves. While
the opening of an account, the customer is required to sign a Cheque Book Requisition Slip.

35
He/She will receive a cheque book only if the account opening form is found complete in
all respects. The person In-charge arrives the name and account number of the customer in
the DCBIR against the specific Cheque Book series, and preserves a record on the
computer. The requisition slip should be conserved as Vouchers.

Banker
verifies the
Requisition slip Bank issuance
occupied slip the new
up accurately cheque book if
along with the everything is
account the right form
number
Enter the cheque
book number in
the register book of
the specific
customer name

Fig 7: Issuance of Cheque Book

The subsequent processes are upheld for issuing of a cheque book

• In the beginning, the client must have to fill up the cheque requisition form.
• The officer In-charge enters the name, and account number of the customers in the
check book register against the fixed check book series.
• Then the officer In-charge after the deposit section signs the record check book and
the demand slip.
• Then the customer accepts the cheque book from the officer of the deposit section
after the greeting on the request slip and record book.

A cover folder enclosing the request slip will be well-maintained as the voucher. If the
ledger keeper finds any defects, he/she will remark to that on the requisition slip and
forward it to the cancellation officer to decide whether a new cheque book should be issued
or not.

36
6.2.8 SMS Banking
EXIM Bank opened SMS Banking services to offer immediate contact to client account
data at any time. Any mobile phone operator having an account of EXIM Bank can get the
service through the mobile phone upon registration.

Fig 8: EXIM Bank SMS Service

Advantages

• Quick control over the status of the account – the message regarding the transaction
is received immediately,
• EXIMBANK SMS info service is available for both individuals and corporate
clients and all cards issued by the bank.
• Avoid fraud – Fast information in the case of theft or the card is being used without
proper authorization,
• Unlimited messaging service received regardless the number of transactions,
Control over transactions made using secondary card,
• EXIMBANK SMS Info service is available in place, in all areas covered by mobile
operators having roaming agreements.
6.2.9 Clearing Section
Clearing is a management by which a bank can accumulate clients fund from one bank to
another over a clearing house.
It is a place where the legislatures of different banks get together to take and deliver cheque
with another bank.
Usually, Bangladesh Bank performs the Clearing House in Dhaka, Chittagong, Rajshahi,
Khulna & Bogra. Where nearby no branch of Bangladesh Bank is available, Sonali Bank
arranges this function.

37
This segment examines in the following way:
• Whether the remunerating bank within the Dhaka city.
• Whether the compensating bank outside the Dhaka city. Then these checks can be
cleared by OBC, OBC stands for an Outward bill for collections.
• Whether the compensating is their branch. These checks can clear by IBC (Inter
Brunch Bill for Collection)
Types of Clearing

Inward Clearing
Clearing House
Outward Clearing

Outward Clearing
When the Branches of a Bank accept a cheque from its customers drawn on the other Banks
within the local clearance zone for gathering through Clearing House, it is Outward
Clearing. When specific branch gathers the financial instruments like PO, DD, Cheques
within the Dhaka city and not of their branch, then the Outward clearing will be operated.
The procedures of Outward Clearing are as follows:
• The instruments with schedules to the principal in the event of any of EXIM Bank
• Bangladesh Ltd after delivering an Inter Branch Debit Advice (IBDA),
• Clearing stamps should be involved to the instruments,
• The lawful signature sanctions instruments,
• The customer receives the duty signed tools and also branch code number attached
on the instruments,
• Access in the Outward Clearing Register,
• Receipt of an instrument with paying in slip,
• Checking of instrument & paying in slip,
• Affixing of seal,
• Special Crossing seal,
• Clearing Seal (Instrument & Paying in slip),
• Endorsement Seal with signature,
• Separation of the instrument from paying in slip,
• Preparing for schedule as per branch,
• Preparation Bank wise program,
• Preparation of clearing House sheet,
• Details of the instruments and vouchers are recorded in the "Outward Clearing"
register,
• Preparing the vouchers,
• Sending instruments to the main branch with the schedule.

38
Inward Clearing
Inward Clearing is when the Banks gets cheque drawn on them from other Banks in the
Clearing House. When the checks of its customer are usual for collection from other banks,
the following should be checked very cautiously;
• The cheque must be crossed.
• The amount both in words and figure in deposit slip should be same, and it should
be adapted to the amount stated in words and figures in the checks as well.
• The cheque should not carry a date older than the receiving date for more than
months.
• The collecting bank must check whether the confirmation is done properly or not.
• Instrument (DD/Cheque/PO) comes from principle office.
• Entry in "Inward Register."
• Cheque- in the computer.
• DD-DD payable
• Pay respective order register.
• Sing in the register by authorized officer
• Cancellation of instrument
• Send Return memo, showing cause, to Office for dishonored instrument

Types of clearing house

There are two kinds of clearing house. Those are,
Normal clearing house:
1st house: 1st house usually stands at 10 a.m. to 11a.m
2nd house: 2nd house often stands after 3 p.m. and it is known as return house.
Same day clearing house:
1st house: 1st house usually stands at 11 a.m. to 12 p.m
2nd house: 2nd house usually stands after 2 p.m. and it is known as return house. Return
House means the 2nd house where the representatives of the Bank meet after 3 p.m. to accept
and distribute desecrated cheque, which placed in the 1st Clearing House.
Bank Cheque may be dishonored for any one of the following reasons
• Inadequate deposit.
• Amount in figure and word differs
• Cheque out of date/ post- dated
• Payment stopped by the drawer
• Payee's authorization irregular
• Drawer's signature differs
• Other specific reasons not mentioned above

39
The dishonor cheque entrance in the Coming back Record & the party is knowledgeable
about it. Party’s signature mandatory in the return record to deliver the dishonored cheque.
After the duration, the return cheque is sent to the party's mailing address with Return
Memo.
If the cheque is not privileged due to the inadequacy of funds, then EXIM Bank charges
25/-as penalty.
The Responsibility of the concerned officer for the Clearing Cheque
• Crossing of the cheque
• Computer posting of the cheque.
• Clearing cover & proper authorization of the cheque.
• Separation of cheque from the deposit slip.
• Sorting of cheque Firstly bank wise and then on branch wise.
• Computer copy 1st division wise & then bank wise.
• Grounding of 1st Clearing House computer authentication sheet.
• Examine computer authentication sheet with the deposit slip to validate the
computer placement
• A copy of computer posting in the floppy disk.

6.2.10 Remittance Section

The word Remittance' means the circulation of money from one place to added place
through a post and spreads. Money-making banks representation this facility to its clients
using unloading money from one branch of the bank and making an easier arrangement for
payment to another branch within the country.
The main function of remittance department is to transportation of the money from one
place to another with to minimalizing the risk associate with handling cash.
Payment order (PO)
It is a non-negotiable approval document. It is typically used as a substitute for cash. It can
also be used as the safety of the loan. A bank concerns the pay-order in term of a counted
charge to safely exchange of money. For diffusing money, pay-order can be used as
cheques where the customer of other banks can simply credit over clearing the pay-order.
This is an application agreed by the branch of a bank for permitting the customer to payment
certain amount of money to the order of an individual/association/ branch/workplace within
the same clearing house area of the pay order-issuing branch.

40
Procedure of P.O issue
For allotting a pay order the client is to submit a Request to the Remittance Department in
the agreed form properly filled up and suitably signed by the applicant. The dispensation
of the pay order Request form, deposit of cash/cheque at the Teller’s counter and lastly
issuing an order, etc. Applicant must fill up the pay order, form. Charges for P.O as follows,

Amount (tk) Charge(tk) Postage charge fee(tk) Total(tk)

1-10,000 25 4 29

10,001-1,00,000 60 9 69

1,00,001-Above 120 18 138

Table 8: Charges for P.O

• Obtaining PO application form duly filled in and signed by the applicant,

• Receiving the amount of cash/transfer with commission amount,
• Issues pay order,
• Enter in pay order register

Demand Draft (DD)

DD is similar to the telegraphic transfer except using an application note for moving money
from branch to branch of EXIM Bank.
DD is a kind of bill of exchange. It is the most commonly used way of inland remittance.
It is a complete instruction of the bank to pay a certain amount of money from one branch
to another branch as per application. While transferring the money safely from a city to
another, individuals use DD since it can transfer the money between the different branches
of the same bank easily and fast. If a significant total is required to be moved from one
place to another, then a customer can request to do the DD and bear it to his destination
instead of cash.
Issuing procedure of D.D

• Acquiring request draft request form which is correctly filled in and signed by the
applicant,
• Receiving the amount of transfer as per recommended from the commission and
postage charge, c) Inserting test number,
• Entering in the D.D. register,
• Issuing advice to the payee branch,

41
Payment procedure of D.D

• Examining generally of the D.D. viz. the Amount, verify the signature, request,
test, series, etc.
• Entering in the DD payable register,
• Verifying with the IBCA (Inter Bank Credit Advice),
• Passing necessary vouchers.

42
 Chapter: Seven

Summary of Findings

I have experienced several positive as well as the negative aspect of EXIM Bank Limited,
Corporate HO Branch. Here I have mentioned the negative or poor activities of this branch
so that the management team and the authorities can focus on these areas more carefully.
The major findings of my studies are as follows-

7.1 HR Division
• EXIM Bank is well designed about the recruitment and selection practice. But my
personal observation is the practice is lengthy and candidates have to pass a lot of
steps to get a job that is why sometimes the practice seems to be time consuming.
• If EXIM Bank follow modern and online systems to hire employees then they can
hire more capable employees within less time.
• My finding is sometimes biasness will come throughout the selection practice while
choosing employees for branch.
• EXIM Bank use traditional recruitment practice so that their cost is high for this.
• As I worked in Head office corporate branch, Gulshan there I observed that they
prefer to choose male candidates as employee’s whiles hire employees because in
that branch people can open their L/C accounts.
• Moreover, I observed that EXIM bank should use more external bases of
recruitment like campus recruitment, recruitment through competition etc.
7.2 General Banking Section
• EXIM Bank is not technically updated. Particularly, in general banking department,
they follow the outdated banking system. The entire general banking process is not
fully computerized
• Most of the customers cannot understand the Islamic Shariah for instance
Mudaraba,
• Musharaka, Mudabaha, Bai Muajjal etc. which is a big challenge for Islamic banks
similar EXIM Bank Limited
• The software used by EXIM Bank does not provide sufficient support on banking
services. It is not user-friendly and management team should focus on replacing it
with a more comprehensive banking software
• Procedure of account opening is tough for the uneducated people
• Advertising and promotion are the weak points of EXIM Bank Limited. They don’t
have any operative marketing strategies and activities
• To open a new account in this bank, the customer needs an introducer. But
sometimes the customer may fail to manage reference for opening an account which
is a major problem for the bank
• They provide more concentration only to the high amount of fixed deposit

43
• Their cash payment process is traditional like withdrawing money by using cheque
because their ATM Card facility is very poor to compare with other banks and
online banking service is not fast and satisfactory
• They don’t have efficient workers to operate different department in the bank
• Staff and departmental conferences at the branch level do not hold or very few
which may cause problem in the future
• This bank is very centralized. For every work, branch offices have to get permission
from the head office. The head office tightly controls every branch office. This
dependency on head office causes a slowdown of branch activities

44
 Chapter: Eight

Recommendations and Conclusion

8.1 Recommendations
As an internee it's difficult to give any recommendation with little working experience but
I have tried my best to give best recommendations to improve the Recruitment and
Selection practice of EXIM Bank Limited as well as several proposals and endorsements
to overcome the problems concerning to the topic mentioned above of EXIM Bank Limited
and also to improve the performance of this bank regarding general banking. The following
recommendations are only proposals to advance the performance in order to achieve
customer satisfaction so that the customers will pay more attachment to EXIM Bank
Limited. Here, some recommendations are mentioned below-
• Most of the employees I met is the branch I worked agreed that the recruitment and
selection system of EXIM Bank is free from biasness but some nepotism,
discrimination and posting related biasness is existing there. So, the bank should
take proper steps to avoid such harmful practice for the betterment of the
organization.
• EXIM Bank uses outdated tools and methods for recruiting and selecting
employees. Though most of the employees think that the tools and techniques used
by the bank are not suitable. Modern and digital tools and methods should be
introduced in the organization to make this practice fast, fair and convenient.
• Responsibility of Human Resource Division should be enlarged in order to reduce
recruitment costings, biases, and to bring effectiveness and success in the
recruitment practice.
• The IT section should play a string portion in enlightening and upgrading the
computer system of the organization and should contribute the entire department as
well as the HRD in construction of the correct software to keep the records.
• The bank may use more outdoor sources of recruitment, such as-campus recruiting,
job fairs, and employment agencies etc. to get a broader range of choices for
selection.
• In the career announcement specially for bottommost employees, The HR
department should remark the pay structure.
• The company can recruit also for campus recruiting that could carry a yield of
highly educated fresh-graduates for the entry-level the organization could organize
sessions in the top business schools.
• EXIM Bank should use the modern banking technique and technology to provide
quality services to its customers
• They should increase the departmental and staff meetings at the branch level to
improve better service quality of the bank

45
 • To build a strong image and reputation in the competitive market EXIM Bank
should give emphasis on their advertisement and promotional campaigns
• They should add a fully computerized general banking system to satisfy the
customers by providing faster and better service
• Establishing a networking system inside all branches to transfer data and important
information within a short period of time
• For easy access to account opening EXIM Bank should cancel the introducer system
• The bank should increase their workforce according to their customer demand
• EXIM Bank should arrange seminar, meeting and training program for their interns
which will help them to gather knowledge and to know about the workplace
• Their online banking system needs to be updated to attract more customers
• EXIM Bank can open more branches to reach more clients
• Proper Banking software should be used to provide speedy services to its customers
• The bank should recruit new employees to serve their customers
• The authority should arrange extensive training and development program for their
employees so that they can effectively perform their duties and responsibilities

8.2 Conclusion
Now-a-days the banking is very competitive. Human resource is not the head count of
individuals employed in an organization. It is sum total of their knowledge, skill, inventive
abilities, talents and aptitudes as well as their values, attitude and beliefs and positive frame
of mind. In the present stage of “Age of Discontinuity” and “Continuous Change” human
resource recruitment plays an important role in the chase of capable and potential
personnel. Employment of people without any clear sense of direction does not bring any
good result. EXIM Bank Limited is very aware and cautious about taking comprehensive
people to about taking complete people to endeavor for winning sprit. The bank has already
established goodwill and good image among its customers by offering tremendous services.
Every bank has their own unique strategies and business policies. Some bank desires to
grow faster and achieve growth. Then again, some banks want to convey an image of a
sound bank. Furthermore, EXIM Bank Limited is quite new in its operations in Bangladesh.
Although the financial investigation of the performance of the bank is very well in the
banking industry of Bangladesh and it is predictable that it has a prosperous future.
Moreover, EXIM Bank, Corporate HO Branch is working well. However, there are some
drawbacks in their banking system which can be overcome through the participation of
more experts in decision- making process and utilizing the tools to evaluate the satisfaction
of the customers. Besides this bank has established goodwill through its innovative
products and services all over Bangladesh. Technology development has opened up a new

46
dimension in the improvement of creative products, efficient services and proper customer
satisfaction. Every bank should cope with this technological advancement to do better in
the future. The intention of the placement program is to expand knowledge of practical
banking and to compare this concrete knowledge with academic experience. Throughout,
the three months of an internship program, it is not probable to drive to the wisdom or each
activity of division because of time limitation. So, purposes of internship program have not
been fulfilled with complete gratification. However, the highest effort has been given to
achieve the purposes of the internship program.
I think this report may show a guideline to EXIM BANK LTD for future planning and
successful operation to accomplish its goal in the competitive business environment.

47
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50
Appendix: List of Abbreviations

EXIM Export Import Bank Limited

A/C Accounts
DD Demand Draft
FDR Fixed Deposit Receipt
PO Payment Order
TT Telegraphic Transfer
BC Bankers’ Cheque
TIN Tax Identification Number
MSD Mudaraba Saving Deposit
MSTD Mudaraba Short Term Deposit
KYC Know Your Customer
PIN Personal Identification Number
L/C Letter of Credit
STD Short Term Deposit
PL Personal Loan
GB General Banking
ATM Automated Teller Machine
CC Credit Card
IRC Import Registration Certificate

51
Appointment Letter

52