“Foreign Exchange Activities” in Al-Arafah Islami Bank Limited

Abstract

Al-Arafah Islami Bank Limited is one of the famous and islamic sharia based bank in the Bangladesh. It play vital role for the economic development. Al-Arafah Islami Bank Limited was established on June 18, 1995 with BDT 15,000.00 Million authorized capital. The first corporate branch of this bank on Motijheel, Dhaka. The bank started its operational activities September 27, 1995. Among all the branch there are only 4 branch who are the authorized dealer, and they are working on behalf of Bangladesh bank in the foreign exchange department. In the Banani Branch AIBL is one of the AD branch and very much specialized for Foreign Exchange department. It also helps many Bangladeshi organizations to boost up their foreign trade. This report states about the works I have done during my internship e.g. Reporting Back to Back L/C, Submitted Letter of Credit Authorization Form, and Recording Export/Import Registers Book and posting L/C details, Bill of Entry and IMP details to the Bangladesh Bank server. Those all are key activities of Foreign Exchange department. In the third chapter I have tried to find out some constrant and challenges. In the fifth chapter, I have done a synopsis of the report. After all the observation it can be said that Foreign exchange department is a very important department for foreign trade and also the economic development for our country. The Foreign exchange department can generate more revenue from foreign countries.