Foreign exchange operations of United Commercial Bank Limited

Abstract

Banking is the topic, practice, business or profession almost as old as the very existence of man, but literarily it can be rooted deep back the days of the Renaissance (by the Florentine Bankers). It has sprouted from the very primitive Stone-age banking, through the Victorian-age to the technology-driven Google-age banking, encompassing automatic teller machines (ATMs), credit and debit cards, correspondent and internet banking. But the foreign exchange services have been a vicinity of concern not only to bankers but to all in the business. The axle of this study is to have a clearer picture of how United Commercial Bank LTD, (UCBL) manages its Foreign Exchange performance. An Introduction of UCBL is given in the first part, its objectives, scope, methodology, limitations, and the literature review of foreign exchange. In this light, the study in its second part gives an Organization Overview. Third, fourth, fifth and sixth part includes the theoretical review on foreign exchange, Export, Import, Remittance and how bank profitable through foreign exchange services. In the last section that includes some Recommendation, Findings and Conclusion. Finally I have gone through my own assessment regarding their operation. I hope that United Commercial Bank Limited may improve the operation in Bangladesh in future.