General Banking Activities of First Security Islami Bank Ltd

Executive Summary: This report is based on working experience at First Security Islami Bank Ltd (FSIBL) as a part of the internship program !uring my internship period" got the opportunity to work at the #eneral Banking !epartment of $irpur branch of the bank In order to incorporate the practical knowledge I ha%e chosen to prepare my report on General Banking Activities of First Security Islami Bank Ltd. The report is aimed to exhibit general banking acti%ities of the bank" how it works and to what extent the customers are satisfied with the ser%ice of the bank The report also offers some suggestions for the impro%ement of pro%iding ser%ices in terms of re%enue and in order to achie%e a superior le%el of customer satisfaction First Security Islami Bank Limited (FSIBL) was incorporated in Bangladesh on &' (ugust )''' as a banking company under *ompanies (ct )''+ to carry on banking business It obtained permission from Bangladesh Bank on && September )''' to commence its business It was commenced its operation as a con%entional banks but from )st ,anuary&..' it was con%erted from interest based bank to an Interest free bank (t present The Bank carries banking acti%ities through its /0 branches in the country Like other pri%ate commercial banks First Security Islami Bank Limited (FSIBL) encompass a wide range of ser%ices including accepting deposits" making loans" discounting bills" conducting money transfer and foreign exchange transactions" and performing other related ser%ices such as safe keeping" collections and issuing guarantees" acceptances and letter of credit This report basically deals with 1#eneral Banking (cti%ities2 (fter obser%ing and doing the internship ha%e found the some problems comparing to other pri%ate commercial bank ($utual Trust Bank Ltd" 3xim Bank Ltd ) that take places in the banking system (t the age of modern technology computer and online leads the e%ery sphere of li%es including banking system but more than half of officers of First Security Islami Bank Ltd are not experts in computer and online system Its IT department is not so de%eloped and experts like other banks- IT They face some problem due to using differences types of software like Bankultimus" 4*bank etc Few officers are skilled and experienced in banking sector that-s why sometimes they take more times handling tasks owing to handling more tasks First Security Islami Bank Ltd has brought S$S" $obile and Internet banking systems as a modern ser%ice but it does take any measures to populari5e and make strong (part from" due to not ha%ing own (T$ booth" clients are to pay more charge for using others bank-s (T$ booth 6ormally (ccounts 7pening section takes more responsibilities without its duties It is a problem for (ccounts 7pening section It does not pro%ide ser%ice to bring attention of target customers 4roblems aside" First Security Islami Bank Ltd is

C a!ter " ree #rgani$ational #vervie% &.' #rgani$ational #vervie%

)ame of t e Com!any *hairman 8ice *hairman $anaging !irector *ompany Secretary Legal Status !ate of Incorporation !ate of *ommencement of Business !ate of 4ermission from Bangladesh Bank !ate of 7pening of First Branch ?egistered 7ffice Line of Business (uthori5ed *apital 4aid up *apital !ate of consent of I47 4hone Fax 3@mail Aebsite SAIFT (uditors Legal (d%isor Tax *onsultant First Security Islami Bank Ltd. $ohammad Saiful (lam (lha9 $ohammad (bdul $ale:ue ( ( $ ;akaria (bdul <annan =han 4ublic Limited *ompany (ugust &'" )''' (ugust &'" )''' September &&" )''' 7ctober &>" )''' <ouse@ SA(I) )B(" ?oad@/" #ulshan@)"!haka@)&)&" Bangladesh Banking Tk +"0.. $illion Tk &"C.. $illion .+ ,une &../ //@.&@'///++0 (<unting)" '>0>>'+B'>>+&./ (IT!i%ision) //.@.&@'/')')> bcsDfsiblbd com " infoDfsiblbd com www fsiblbd com FS3BB!!< Syful Shamsul (lam E *o *hartered (ccountants 4honeF'>>>')>"'>0.CC& "3mailF syfulDintechworld net The Law*ounsel "BarristerE(d%ocates"4honeF'C+'0+G@/ FaxF'C+'/00"'>0G.&' "3mailF l counselDbdonline com = $ <asan F*( "= $ <asan E *o *hartered (ccountants

4honeF 'C>)+>G"'C>)>0+ FaxF 'C+>G'&@))& &.(Cor!orate Information &.(.( Background First Security Islami Bank Limited (FSIBL) was incorporated in Bangladesh on &' (ugust )''' as a banking company under *ompanies (ct )''+ to carry on banking business It obtained permission from Bangladesh Bank on && September )''' to commence its business The Bank carries banking acti%ities through its /0 branches in the country The

commercial banking acti%ities of the bank encompass a wide range of ser%ices including accepting deposits" making loans" discounting bills" conducting money transfer and foreign exchange transactions" and performing other related ser%ices such as safe keeping" collections and issuing guarantees" acceptances and letter of credit It was commenced its operation as a con%entional banks but from )st ,anuary- &..' it was con%erted from interest based bank to an Interest free bank The company philosophy 1Symbol of Security2H the bank has been operating with talented and brilliant personnel" e:uipment with modern technology so as to make it most efficient to meet the challenges of &)st century !uring this short span of time the Bank successful in positioning itself as progressi%e and dynamic financial institution in the country The sponsor and director of the bank are a successful and prominent business group in our business community &.(.* +ision To be the uni:ue modern Islami Bank in Bangladesh and to make significant contribution to the national economy and enhance customer-s trust and wealth" :uality in%estment" employee-s %alue and rapid growth in shareholder-s e:uity &.(.& ,ission

To be the most caring and customer friendly and ser%ice oriented bank To create a technology based most efficient banking en%ironment for it-s *ustomers To ensure ethics and transparency in all le%els To ensure sustainable growth and establish full %alue of the honorable Shareholders (bo%e all" to add effecti%e contribution to the national economy

&.(.- Strategies

To stri%e our customers best satisfaction E win their confidence To manage E operate the bank in the most effecti%e manner To identify customers- needs E monitor their perception towards meeting To re%iew E updated policies" procedures E practices to enhance the ability to extend better customer ser%ices To train E de%elop all employees E pro%ide them ade:uate resources so that the customers- needs reasonably addressed To promote organi5ational efficiency by communicating company plans policies E procedures openly to the employees in a timely fashion To ensure a congenial working en%ironment

&.(.. #/0ective of t e Bank

To explore a new hori5on of inno%ati%e modern banking creating an automated and computeri5ed en%ironment To pro%ide one stop ser%ices and prepares itself to face the new hori5on of inno%ati%e modern banking creating an automated and computeri5ed en%ironment To pro%ide one stop ser%ices and prepares itself to face the new challenge of globali5ation and competition To be a pro%ider of high :uality products and ser%ices to its potential market

To deal with the needs of its corporate clients To pro%ide a comprehensi%e range of financial ser%ices to national multinational companies

&.(.1 +alues

8alue pillars of FSIBL that are central to our core ideologies and that must always be reflected in e%erything we doF Ae are aggressi%e in business self@dri%en Ae empower people" create leaders and dri%e change Ae treat people with respect and dignity Ae are personally accountable for deli%ering on commitments to high built Itrust relationship with customers and to ensure customers delight Ae focus on managing risks and costs in order to be doubly profitable Ae act in ways that reflect the highest standards of integrity

&.(.2 Board of 3irectors SL.)#. )ame 3esignation ) (lha9 $d Saiful Islam *hairman & (lha9 $d (bdul $ale:ue 8ice *hairman C $s ?ahima =hatun !irector + $rs (ti:un 6esa !irector > $d Sharif <ossain !irector 0 $r $d Aahidul (lamSeth !irector G $r Shahidul Islam !irector / $r $ohammed 7hedul (lam !irector ' $d =utub Jddowllah !epositors !irector ). $d (bdul <amid $iah Independent !irector )) (hsanul (lam !irector )& ( ( $ ;akaria $anaging !irector &.* ,anagement &.*.( Senior ,anagement FSIBL is functioning with a highly professional management team headed by the $anaging !irector $r ( ( $ ;akaria (mong other senior executi%es currently Two !$!" 7ne 4rincipal (Training *enter)" Two S384" six 384" Se%en S84" 3le%en 84" 6ine F84" fifteen S(84" sixteen (84 and eighteen F(84 are discharging their ser%ices in progression of the banks business &.*.* "eam ,anagement

&.*.& 4uman 5esources 3evelo!ment $anaging !irector !eputy $anaging !irector 4rincipal of Training *entre Senior 3xecuti%e 8ice 4resident 3xecuti%e 8ice 4resident Senior 8ice 4resident 8ice 4resident First 8ice 4resident Senior (ssistant 8ice 4resident (ssistant 8ice 4resident First (ssistant 8ice 4resident 4rincipal 7fficer Senior 7fficer 7fficer ,unior 7fficer@) ,unior 7fficer@& FSIBL has a separate <uman ?esources !i%ision (<?!) to manage the employee policies and practices (s on FK3 &.))" Total )+.. executi%es E officers of the bank ha%e been working for smooth banking operations Bank follows a standardi5ed human resources policy <?! of the Bank follow a transparent and free E fair system to ensure the standard recruitment" training E de%elopment of human resources of the bank The bank has defined <? policies including recruitment" training E de%elopment" promotion" lea%e" transfer and disciplinary action policy Jsually internal recruitment procedures are considered to fill up the mid and top management positions" while entry@le%el positions are filled with regularly through competiti%e recruitment exams They follow transparent" well@defined and strict rules for appointment of officers and staff in the Bank-s ser%ice &.*.- Cor!orate Governance *orporate go%ernance is about how corporation is running its operations to achie%e its corporate ob9ecti%es Bangladesh Bank (BB) gi%es emphasis on implementing corporate go%ernance among the financial institutions and to do that" BB emphasi5es implementation of the guidelines issued by them for impro%ing corporate go%ernance in banking #ood *orporate #o%ernance practices enhance an entity-s corporate image and market credibility" which attract capital and increase its borrowing power These can be reflected in the :uality of financial reporting and disclosuresH strength of internal control system and internal audit function induction of professionally competent" independent non@executi%e !irectors on corporate BoardH formation of (udit *ommitteeH delegation of authority to executi%es and staffH protection of corporate go%ernance for strengthening organi5ational strength Aith a %iew to ensure effecti%e participation and deep interest in the affairs of the company and as per (rticles of (ssociation of the *ompany and as per Bangladesh Bank *ircular 6o )0 dated $arch &+" &..C the bank has set up the following & committeesF

3xecuti%e committee (udit *ommittee

&.*.. Executive Committee FSIBL has constituted .' members executi%e committee of the board as per Bangladesh Bank guidelines to ensure corporate go%ernance in the business of which managing director of the Bank is 3x@officio $ember The executi%e committee of the board is responsible for de%eloping policy and strategy for smooth operations of business and business de%elopment of the bank to ensure maximi5ation of shareholders wealth-s protecting other stakeholder-s interest in the company *.. Audit Committee FSIBL has formulated an audit committee can play an effecti%e role in formulating an efficient and secured banking system The (udit *ommittee <as been formed comprising three members of the Board of !irectors (s per corporate go%ernance guidelines the *hairman of the (udit *ommittee should ha%e sound knowledge and expertise in finance E accounting or auditing &.& Branc )et%ork (t present" First Security Islami Bank Ltd has /+ Branches in o%erall Bangladesh (ll the /+ Branches are computeri5ed (mong them 0& Branches are under distributed ser%er en%ironment" other are ruining with our *ore Banking Software (*BS) (ll the Branches will be migrated from distributed ser%er to *BS" First Security Islami Bank Ltd (FSIBL) has already started their on@line" S$S and (T$ banking facilities for their clients " First Security Islami Bank Ltd (FSIBL) will add mobile banking and e@banking facilities within short period of time Branc es of First Security Islami Bank Ltd 3ivision )um/er of Branc es !haka C> Branches *hittagong &/ Branches =hulna G Branches Sylhet G Branches ?a9shahi C Branches =hulna & Branches ?angpur & Branches &.- Information "ec nology 3ivision FSIBL has an Information Technology !i%ision at the head office to pro%ide IT support to all its branches The Bank has well documented guideline on information and communication technology (I*T) From the %ery beginning FSIBL was using computeri5ed banking software 67cBank8Bank 9ltimus:: for all the branches to pro%ide online banking facilities to its clients FSIBL is now pro%iding online banking facilities with distributed system The Bank also has S$S banking ser%ice " First Security Islami Bank Ltd (FSBL) has a plan to introduce centrali5ed system for online banking

&.. 7roducts &...( 3e!osits Sc eme

(l@Aadiah *urrent !eposit $udarabah Sa%ings !eposit $udarabah Short Term !eposit

,udara/a "erm 3e!osit;

7ne $onth Three $onths Six $onths Twel%e $onths Twenty Four $onths Thirty Six $onths

Foreign Currency 3e!osit

$udarabah Sa%ings Scheme $onthly Sa%ings Scheme $onthly 4rofit Scheme $ore than double the deposit in 0 years *onsumer Finance Scheme

First Security Islami Bank Ltd. In *'(( Introduced )e% 3e!osit Sc eme

(lo $udarabah 3ducation !eposit Scheme Bondhon $udarabah Aedding !eposit Scheme 6iramoy $udarabah Treatment !eposit Scheme 7bosor $udarabah 4ension !eposit Scheme 7nkur $udarabah Student Sa%ings !eposit 4rapti $udarabah Salary Sa%ings !eposit Somman (l@Aadiah 4remium (ccount 4ro%in $udarabah Senior *iti5en Sa%ings !eposit $or9ada (l@ Aadiah *urrent plus (ccount ;akat Fund $udarabah <a99 Sa%ings !eposit $udarabah $onthly !eposit Scheme $udarabah !ouble !eposit Scheme $udarabah $onthly 4rofit Scheme

Ae are also emphasi5ing on non@fund business and fee based income Bid bondB bid security can be issued at our customer-s re:uest 7ur Bank is posed to extend LB* facilities to its importers B exporters through establishment of correspondent relations and 6ostro (ccounts with leading banks all o%er the world &...* Investment Sc eme

In%estment B !eployment of FundsF

Bai@$urabaha (!eferred Lump SumB Installment Sale) Bai@$ua99al (!eferred Installment B Lump Sum Sale) I9ara (Leasing) $usharaka (,oint@8enture 4rofit@Sharing) $udaraba (Trustee 4rofit@Sharing) Bai@Salam ((d%ance Sale and 4urchase) <ire@4urchase !irect In%estments 4ost Import In%estment 4urchase and 6egotiation of 3xport Bills Inland Bills 4urchased $urabaha Import Bills Bai@$ua99al Import Bills 4re Shipment In%estment Luard@ul@<asan (Bene%olent In%estment) Letter of #uarantee Tender #uarantee 4erformance #uarantee #uarantee for Sub@*ontracts Shipping guarantee (d%ance 4ayment guarantee #uarantee in lieu of Security !eposits #uarantee for exemption of *ustoms !uties

#t ersF Letter of *redit (LB*) B Back to Back Letter of *redit (LB*) S!eciali$ed Sc emes

*onsumer In%estment Scheme S$3 In%estment Scheme Lease In%estment Scheme <ire 4urchase 3arnest $oney In%estment Scheme" $ortgage In%estment

3mployees <ouse Building Scheme (T$ 8IS( In%estment *ard 33F etc

&.1 Services

&.1.( #nline Any Branc Banking First Security Islami Bank Ltd (FSIBL) ha%e set up Aide (rea 6etwork through ?adio" Fiber@7ptics E other a%ailable communication media systems to pro%ide any branch banking to our customers *ustomer of one branch is now able to deposit and withdraw money at any of our branches (ll Branches are included in our Aide (rea 6etwork 6o TTB!! or cash carrying will be necessary &.1.* S,S Banking First Security Islami Bank Ltd has officially launched S$S banking ser%ice from !ecember )G" &..G &.1.& ,o/ile Banking First Security Islami Bank Ltd (FSIBL) has introduced mobile banking and payment ser%ices titled" 1First pay" Sure *ash2 for its customers on&G $arch" )& Through this ser%ice" people staying at anywhere of the country would get %arious banking ser%ices" such as" opening up new account" cash deposit" cash withdrawal" money transfer" bill payment" remittance disbursement" ticketing of train" bus and cinema" payroll and utility ser%ices The bank teamed up with the state@owned telecom ser%ice pro%ider Teletalk to facilitate the mobile banking ser%ices Besides" the bank will also recei%e technical assistance from M4rogatiSystems&.1.- A", Banking First Security Islami Bank Ltd has implemented successfully (utomated Teller $achine ((T$) B!B!IT card transaction from ,une &>" &../ Through (utomated Teller $achine ((T$) B!ebit card" customer can a%ail the facilities like withdrawal money" balance in:uiry and purchase goods from 4oint of sale (47S) using !utch Bangla Bank Ltd (T$ Booth and 47S &.1.. Locker Service For safekeeping of customer-s %aluables like important documents and goods like 9ewelries and gold ornaments" " First Security Islami Bank Ltd (FSIBL) Locker Ser%ice is a%ailable in most of the Branches in urban areas &.1.1 9tility Bills The utility bill-s recei%ed following BranchesF Branch 6ame $ohakhali" !haka Topkhana" !haka Bill-s Type !3S*7 Jnder process (3lectric bill)

#ulshan " !haka Titas #as Shafipur "#a5ipur !haka 4ally Biddut Shomitty =eranihat"*hittagong 4ally Biddut Shomitty Biswanath " Sylhet 4ally Biddut Shomitty Banking Activities: In Bangladesh" all con%entional pri%ate commercial banks and Islamic banks (First Security Islami Bank Ltd ) exercise daily general banking acti%ities in banking hour Basically all general banking acti%ities are same but a some differences are found in concept of banking" name of acti%ities and termsE conditions 6ow will choose $utual Trust Bank Ltd as a 4ri%ate *ommercial Bank and First Security Islami Bank Ltd Ahere doing internship program as for comparison in general banking acti%ities done by both banks Conce!t Interest based Interest free bank )ame *urrent (ccount" Sa%ings (ccount EFixed !eposit ?ate (l@Aadiah *urrent !eposit" $udarabah Sa%ings !eposit and $udarabah Term !eposit "erms < Conditions !epositor doesn-t bear any loss of bank if bank fails to earn profit !epositor bears any loss of bank if bank fails to earn profit

4ri%ate *ommercial Bank First Security Islami Bank 4ri%ate *ommercial Bank First Security Islami Bank 4ri%ate *ommercial Bank First Security Islami Bank

Functions #f First Security Islami Bank Ltd The functions of First Security Islami Bank Ltd (FSIBL) are di%ided into three di%isions these areF )) #eneral Banking C) In%estment &) Foreign 3xchange First Security Islami Bank Ltd (FSIBL) pro%ides their ser%ices under t three di%isions 3ach of this section ser%es %arious ser%ices for satisfying their clients General Banking 3ivision:

#eneral Banking !i%ision is considered as the direct customer ser%ice center It is the starting point of all the Banking operation It opens new accounts" remits funds" honor che:ue" takes deposits" issues pay order etc #eneral Banking is also known as retail Banking Following are the ma9or section in general bankingF N (ccount opening section N *learing section N (ccounts section N *ash section Account #!ening Section (ccount opening is the gateway for clients to enter into business with bank It is the foundation of banker customer relationship This is one of the most important sections of a branch" because by opening accounts bank mobili5es funds for in%estment 8arious rules and regulations are maintained and %arious documents are taken while opening an account 3ifferent "y!es #f Accounts

Current Account

( current account is a running and acti%e account" which may be operated upon any number of times during a working day It is purely demand deposit account because the bank is bound to pay the amount to the accountholder on demand at any time within the banking hour The account holder not gets any interest against their current account

Al;=adeea Current 3e!osit Account

The word 1(l@Aadeeah2 deri%ed from the (rabic word 1Aadium2 means M(manat (manat means to keep or deposit something to any person or institution for safe preser%ation maintaining original ownership and bound to return to owner on demand with original shape The term (l@Aadeeah means deposit of money allowing some body to claim in the account In case of (l@Aadiah !eposit" Bank must take permission from owner to in%est the fund with other bank-s fund Because of owner in%ol%es neither earning profit nor any loss So" Banks not only will en9oy )..O profit but also will bear full losses (ccount <older pay fees for maintain the account and other costs Savings Bank Account >Conventional? ( sa%ing account is meant for the people of the lower and middle classes who wish to sa%e a part of their incomes to meet their future need and intend to earn an income with a fixed rate of interest from their sa%ings" it encourages sa%ings of non@trading persons" institutions" society and clubs etc The deposits are mostly small amounts

,udara/a Savings 3e!osit Accounts The term M$udaraba- deri%ed from (rabic word M!ard-B M!arbun- which means 1Tra%el2 thus the word M$udarah- means 1Tra%el2 for undertaking business M$udaraba is a partnership in profit whereby one party pro%ides capital and the other party pro%ides skill and labor The pro%ider of capital is called 1Shahib@al@ $alB?abbul@$al2 (7wner of the fund) while the pro%ider of skill and labor is called 1$udarib2 (organi5erB$anager) !epositors will deposit money and bank will in%est fund as per Islami Shariah without any inter%ention of depositors !epositor will gain profit according to specified Aeight age . G> and will bear loss at ratio of deposit The pro%isional profit will be gi%en two (&) times (,une@!ecember) which will be ad9usted after the final profit has *alculated at the year end Aeekly & (two) times" $onthly + (four) times and P of the balance amount or Tk >."... .. whiche%er is lower can be withdrawn without any notice Fixed 3e!osits 5ecei!ts: >Conventional? The Interest rate is fixed for the fixed amount and time The depositor are ensured for getting the interest as fixed when deposits are mobili5ed" e%en if the bank occur a huge loss without any negligence or %iolation of the conditions agreed ,udara/a "erm 3e!osit >,"3? Accounts The bank is authori5ed by the depositor to in%est the $udarabah fund at the risk of the Sahib (l@ $al $T! account is opened with certain fixed amount of money for a particular period by personBpersons indi%iduallyB9ointly" by business entities for periods of ) month" C months" 0 months" )& months" &+ months" C0 months" as appro%ed by the <ead 7ffice from time to time The deposit in $T! account will en9oy higher rate of weight age respecti%ely . G>" . //" . '&" . '0" . '/ and ) in profit compared to $udarabah sa%ings account for different period respecti%ely 6o transaction is allowed in $T! account and hence no che:ue book is issued *reditBdebit of actual profitBloss shall be made after audit of the final account of the bank In the mean" time profit on $T! (ccount shall be paid at the pro%isional rate as on when due and as fixed by the <ead 7ffice from time to time depending on their period of maturity ,udara/a ,ont ly 3e!osit Sc eme >,,3S?: ?e%ised 4rofit ?ate of this scheme is now )&O Si5e of installment has been extended up to T= &>...B@ (Twenty Fi%e Thousand Taka) Kou are re:uested to the follow the following table for $$!S Insurance facility will be added with this scheme

installment

>..

)...

)>..

&...

&>..

>...

)....

)>...

&....

&>...

4rincipal C.... 0.... '.... )&.... )>.... C..... 0..... '..... )&..... )>..... > Krs amount maturity %alue +./>. /)G.. )&&>>. )0CC>. &.+&.. +./C>. /)0G.. )&&>.>. )0CC+.. &.+)G>. 4rincipal +/... '0... )++... )'&... &+.... +/.... '0.... )++.... )'&.... &+..... / Krs amount maturity %alue /.... )>''>. &C''.. C)''.. C''/>. G''0>. )>''C.. &C'/'>. C)'/>>. C''/&.. 4rincipal 0.... )&.... )/.... &+.... C..... 0..... )&..... )/..... &+..... C...... ). Krs amount maturity %alue ))>.>. &C..>. C+>).. +0.).. >G>).. ))>.&.. &C..+.. C+>.0.. +0../.. >G>)... ,udara/a ,ont ly 7rofit Sc eme >,,7S?: ?e%ised 4rofit ?ate of this scheme is now )&O Jnder this Scheme clients will get T= )...B@ (7ne Thousand Taka) per month against T= )" .."...B@ (7ne Lac taka) deposit (#o%t Tax (pplicable) Insurance facility will be added with this scheme ,udara/a 3e!osit 3ou/le Sc eme >,33S?: ?e%ised 4rofit ?ate of this scheme is now )&O !eposit ?ate will be double in 0(Six) years instead of 0 > years after re%ision Insurance facility will be added with this scheme Calculation8Fixing #f =eig tage: The longer period of deposit" the greater the risk they bear with regard to fluctuation of the rates of profit and erosion of the %alue of deposit due to inflation Some deposit shall ha%e to forgo profit if incased within fixed minimum period and also to forgo some profit in case of predetermine encashment through reduce weightage Some depositors shall ha%e to forgo some profit in case of default of scheduled payment Calculation #f 7rofit 7n the basis of abo%e principles" let us work out the rates of profit using the information and figures gi%en belowF a Total In%estment Tk )...B@ b Total In%estment Income Tk )>.B@ * Total Fund employed i Bank-s 3:uity E (l@Aadeeah !eposit Tk &..B@ ii $udaraba !eposit Tk /..B@ Therefore the share of the in%estment of $udaraba !eposit will be ()>.B)...Q/..) R Tk )&.B@

Less: a &.O $anagement Fee Tk &+B@ b )>O Loss off@setting ?eser%e Tk )/B@ Total Tk +&B@ 7rocedure #f Account #!ening Account #!ening >,udara/a Savings Sc eme?: ) Fill up the account opening form correctly & Two copies of photograph of e%ery signatory C 4hotocopy of 6ational I! *ardB4assportB*iti5enship certificate with original copy of %erification purpose + !etails of nominee > Signature and one copy of photograph of each nominee (must be attested by account holder) 0 The account holder itself will sign in front of account opening officer in the account opening form $udarabah Sa%ings !epositand(l@Aadiah *urrent !eposit both need following necessary documents" information for opening an account For Individual ) Fill up the account opening form correctly (must be introduced by Introducer) & Two copies of photograph of e%ery signatory(must be attested by Introducer) C 4hotocopy of 6ational I! *ardB4assportB*iti5enship certificate with original copy of %erification purpose + !etails of nominee > Signature and one copy of photograph of each nominee( must be attested by account holder) 0 The account holder itself will sign in front of account opening officer in the account opening form Sole 7ro!rietors i! ) ?e:uest letterB(pplication for account opening purpose & Jp to date Trade License" TI6 and 8(T of firm

C Seal and 8isiting *ard of Signatory ( if applicable) + Two copies of photograph of e%ery signatory(must be attested by Introducer) > 4hotocopy of 6ational I! *ardB4assportB*iti5enship certificate with original copy of %erification purpose 0 Signature and one copy of photograph of each nominee( must be attested by account holder) G $embership *ertificate of Trade (ssociation" *hamber of *ommerce and Industry / Tenancy (greement copy( if applicable) 7artners i! ) ?e:uest letterB(pplication for account opening purpose & ?egistered 4artnership deed on non@9udicial stamp of T= )>.B E List of the 4artners with 4ortfolio C Jp to date Trade License" TI6 and 8(T of firm + ?esolution regarding operation of bank account and signing of Bank-s charge documents with execution of $ortgage !eeds and other bank-s papers as per partners > Seal and 8isiting *ard of Signatory ( if applicable) 0 Two copies of photograph of e%ery signatory(must be attested by Introducer) G 4hotocopy of 6ational I! *ardB4assportB*iti5enship certificate with original copy of %erification purpose / Signature and one copy of photograph of each nominee( must be attested by account holder) ' $embership *ertificate of Trade (ssociation" *hamber of *ommerce and Industry ). Tenancy (greement copy between Firm and Landlord( if applicable) Limited Lia/ility Com!any ) ?e:uest letterB(pplication for account opening purpose & *ertificate of Incorporation C The certified copy of $emorandum and (rticles of (ssociation by ?egister of ,oint Stock and Firm

+ ?esolution regarding operation of bank account and signing of Bank-s charge documents with execution of $ortgage !eeds and other bank-s papers as per $emorandum and (rticles of (ssociation > Seal as per resolution 0 Two copies of photograph of e%ery signatory(must be attested by Introducer E 8isiting *ard of Signatories ) G 4hotocopy of 6ational I! *ardB4assportB*iti5enship certificate with original copy of %erification purpose / *omplete Bio@!ata with passport si5e of photographs of all directors signed by them ' The certified copy of Form 6o SII and SS dully issued by ?egister of ,oint Stock and Firm ). Jp to date Trade License" TI6 and 8(T of firm )) Signature and one copy of photograph of each nominee( must be attested by account holder) )& $embership *ertificate of Trade (ssociation" *hamber of *ommerce and Industry