INTERNSHIP REPORT Function of Foreign Exchange Department of Sonali Bank Limited, Dinajpur Corporate Branch, Dinajpur

Abstract

The report is written on the foreign exchange activities of Sonali Bank Limited, Dinajpur Corporate Branch, Dinajpur. This is a necessity for the successful completion of the M.B.A (Evening). This research was done with the objective to know various functions of Foreign Exchange Department including the rules, regulation and procedure of Foreign Exchange Activities of Sonali Bank Limited. The report has been made with the help of Sonali Bank Limited, Dinajpur Corporate Branch, Dinajpur officials and some third party sources that are being appropriately cited. Foreign Exchange Department has mainly three (3) types of functions which are (i) Import (ii) Export and (iii) Foreign Remittance. Import and Export are the main two types of non-funded business of Sonali Bank Limited, Dinajpur Corporate Branch, which has also the foreign remittance business in good quantity. Import function is done by Letter of credit whereas Export function is completed by Contractual basis with advance payment mode. Export and Remittance performance of Dinajpur Corporate Branch are increasing from the last five years whereas Import is decreasing day by day. All sorts of Import and Export functions are not available in this branch but all types of foreign remittance facilities are available here. Function of Foreign remittance is decreasing day by day due to lack of experience in Foreign Exchange, shortage of manpower, minimum use of computer technology etc.