Documente Academic
Documente Profesional
Documente Cultură
Introductory Part
Content
1.1 1.2 1.3 1.4 1.5 1.6 Background of the Study Rationale of the Study Objectives of the report Scope of the report Limitations of the study Methodology
This report is originated as the academic requirement of the BBA program under the Business Administration Department of Stamford University Bangladesh. Under this program student have to participate in internship program of three month duration toward the fulfillment of the Degree. As practical orientation is an integral part of the BBA degree requirement, I was sent by the department to AB Bank Limited to take real life exposure of the activities of financial institutions. The Human Resource Division of ABBL arranges my internship program to Islampur Branch from February 18, 2009 to May 18, 2009. At the end of the internship period the student have to prepare a report on the organization and this report titled Foreign Exchange Activities of AB Bank Limited is the outcome of my three months practical knowledge at AB Bank Limited.
1.6 Methodology
Analysis has been made on the basis of the objectives mentioned before in the context of Foreign Exchange Activities of AB Bank Limited. Mainly time series analysis and trend analysis (2004-2008) has used to compare the foreign exchange performance of ABBL. Besides this SWOT analysis has also used in the study.
Sources of Information
In order to prepare the report more comprehensive, meaningful & presentable, I have been used widely two sources of data & information. The sources are: 1. Primary Sources. 2. Secondary Sources. How I used those sources for collecting information are briefly discussed bellows: The primary sources are as follows:
Face-to-face Conversation with the respective officers, executives & also with the staff of the Branch. Informal conversion with the clients. Practical work exposures form the different desks of the departments of the Branch covered. Relevant file study as provided by the officers concerned at each desk of the departments I have worked. The Secondary Sources of the data & information are follows:
Annual Report of the AB Bank Ltd The Published materials as such; various books, articles regarding General Banking Functions, Foreign Exchange Operations, & also Credit Policies. Different Procedure Manual Published by ABBL. Different Circular Sent by the Head office of ABBL & Bangladesh Bank. In order to Collect the data I usually used informal questionnaires which was the combination of both open ended & Close ended. Group discussion & Personal interview also used as a means to collect the data. From their website I also collected their updated financial position.
FOREIGN EXCHANGE ACTIVITIES OF ABBL
CHAPTER
i.e.
Bangladeshi
Sponsor
and BDT 4511.59 million respectively. Authorized Capital of the Bank has been increased to BDT 3000 million in the Extra Ordinary General Meeting held on July 16, 2008. As of December 31, 2008 the equity (Paid up Capital and Reserve) of the bank is BDT 6722.51 million. Since beginning, the bank acquired confidence and trust of the public and business houses by rendering high quality services in different areas of banking operations, professional competence and employment of the state of art technology. During the last 27 years, AB Bank Limited has opened 74 Branches in different Business Centers of the country, one foreign Branch in Mumbai, India and also established a wholly owned Subsidiary Finance Company in Hong Kong in the name of AB International Finance Limited. To facilitate cross border trade and payment related services, the Bank has correspondent relationship with over 220 international banks of repute across 58 countries of the World. AB Bank Limited, the premier sector bank of the country is making headway with a mark of sustainable growth. The overall performance indicates mark of improvement with Deposit reaching BDT 53375.35 million, which is precisely 26.85% higher than the preceding year. On the Advance side, the Bank has been able to achieve 30.76% increase, thereby raising a total portfolio to BDT 40915.35 million, which places the Bank in the top tier of private sector commercial banks of the country.
Short Term Goal: To attain budgetary targets fixed in each areas of business.
Percentage of Shareholding
The shareholder of ABBL divided into two units. One is Sponsors and public another one is government. The status of share holding of these units is shown belowParticulars Sponsors and public Government Total No. of shares 22,169,889 127,965 22,297,854 99.43 0.57 100 %
Md Mesbahul Hoque Md. Anwar Jamil Siddiqui Dr. M. Imtiaz Hossain Runa Zakia Shahrood Khan Kaiser A. Chowdhury (Source: www.abbank.com)
Reserves
Cash reserve ratio and statutory liquidity ratio have been calculated and maintained in accordance with section 33 of the Banking Companies Act 1991 and Bangladesh Bank BRPD's subsequent circular nos. 11 and 12 dated 25 August 2005. The statutory cash reserve ratio required on the Bank's time and demand liabilities at the rate of 5% has been calculated and maintained with Bangladesh Bank in current account and 18% statutory liquidity ratio, including cash reserve ratio, on the same liabilities is also maintained in the form of treasury bills, bonds and debentures including foreign currency balance with Bangladesh Bank. Both the reserves are maintained by the Bank in excess of the statutory requirements, as shown below: (a) Cash Reserve Ratio (CRR) 31.12.2008 Required reserve Taka 2,974,341,820 31.12.2007 Taka 2,431,895,350
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2,980,529,000 6,187,180
2,320,867,000 (111,028,350)
31.12.2008 Required reserve Actual reserve maintained Surplus Total required reserve Total actual reserve held with Bangladesh Bank Total surplus Taka 7,733,288,732 8,163,405,862 430,117,130 10,707,630,552 11,143,934,862 436,304,310
As per BRPD Circular # 12 dated 25 August 2005 all scheduled Banks have to maintain CRR and SLR (including CRR) @ 5.00 % and 18.00% daily of their total time and demand liabilities on bi-weekly average basis respectively, where the Bank maintained at the year ended 5.01% and 18.73% respectively.
February27 1982 February 5, 1982 April 12, 1982 December 28,1983 May 5.1984 January 16,1986 November 1995 January, 1996 April 1996 April 12,2002 November 2 2002
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Incorporate of AB Bank Foundation Launching of VISA Card Operating of Islamic Banking Branch Online Share Transaction in CDS Obtained permission as a Security Custodian from Securities and Exchange Commission Arab Bangladesh Bank Ltd. Changed its name to AB Bank Limited (ABBL) Raise the Authorized Capital Tk.600, 00, 00,000/- divided into 6, 00, 00,000 ordinary shares of Tk.100/- each
November 3 2003 December 23,2004 December 23,2004 May 7 ,2006 January 22 ,2007 November 14, 2007 January 29, 2009 (Source: www.abbank.com)
Head of Information Technology Head of Internal Control & Compliance Vice President(VP) Senior Assistant Vice Assistant Vice president(AVP) president(SAVP) Branch Operation Manager (Source: www.abbank.com)
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Management Unit is entrusted with the duties of maintaining asset quality, Assessing risk in lending to a particular customer, sanctioning credit, formulating policy / Strategy for lending operation, etc. Adequate provision has been made on classified loans / Investments. A thorough assessment is done before sanction of any credit facility at Credit Risk Management Unit. The risk assessment includes borrower risk analysis, financial analysis, Industry analysis, historical performance of the customer, security of the proposed credit Facility, etc. The assessment process starts at Corporate Division by the Relationship Manager / Officer and ends at Credit Risk Management Unit when it is approved / declined by the competent authority. Credit approval authority has been delegated to the individual Executives. In determining Single borrower / large loan limit, the instructions of Bangladesh Bank are strictly followed. Internal audit is conducted at periodical intervals to ensure compliance of Banks and Regulatory polices. Loans are classified as per Bangladesh Banks guidelines. B) Operating risk Operational risk address the risk associated with fraud, forgery, unauthorized activities, Error, omission, system failure and external events among others. AB IS managing these Risks through written procedures, regular training and awareness programs. Departmental Control Function Checklist (DCFCL), Quarterly Operations Report, loan Documentation Checklist etc. Are in place covering all probable risks associated with banks business and Operations. Surprise Inspections are also made on a regular basis to make sure that all Control tools are functioning properly. C) Market risk The exposure of market risk of the bank is restricted to foreign exchange risk, interest rate Risk and equity risk. ci) Foreign exchange risk Foreign exchange risk is defined as the potential change in earnings due to change in Market prices. The foreign exchange risk of the bank is minimal as all the transactions are carried out on behalf of the customers against underlying L/C commitments and other Remittance requirements.
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Treasury department independently conducted the FX transactions and the mid office and the back office of treasury is responsible for verification of the deals and passing of their Entries in the books of account. All foreign exchange transactions are revalued at Mark to Market rate as determined by Bangladesh Bank at the month - end. All Nostro accounts are Reconciled on a monthly basis and outstanding entry beyond 30 days is reviewed by the Management for its settlement. The position maintained by the bank at the end of day was within the stipulated limit prescribed by the Bangladesh Bank. cii) Interest rate risk Interest rate risk may arise from trading portfolio and non- trading portfolio. The trading Portfolio of the bank consists of government treasury bills of 28 days maturity. The short Term movement in interest rate is negligible or nil. Interest rate risk of non trading Business arises from mist aches between the future yield of an asset and its funding cost. Asset Liability Committee (ALCO) monitors the interest rate movement on a regular basis. ciii) Equity risk Equity risk arises from movement in market value of equities held. The Investment Banking Division under a well-designated policy framework monitors the risks. The market Value of equities held was however higher than the cost price at the balance sheet date. D) Liquidity risk The object of liquidity risk management is to ensure that all foreseeable funding Commitments and deposit withdrawals can be met when due. To this end, the Bank is maintaining a diversified and stable funding base comprising of core retail and corporate Deposits and institutional balance (note - 12). Management of liquidity and funding is carried out by Treasury Department under approved policy guidelines. Treasury front office is supported by a very structured mid office and Back office. Asset Liability Committee (ALCO) monitors the Liquidity management on a regular basis. A written contingency Plan is in place to manage extreme situation. E) Risk arising from money laundering AB considers prevention of money laundering risk not only as a compliance requirement imposed by the law of the country but also as one of its core business values. The board of
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Directors and senior management are firmly committed to combat money laundering. Every Year, a message from the president and managing directors office goes to all employees of the bank reiterating the importance of the issue. There is a high profile Central Compliance Unit (CCU) in place to oversee the any money laundering activities. The president and managing director himself supervise the function of CCU's. Operation has separate and dedicated headcount for surveillance of the any money laundering functions across the Bank. Training and awareness programs are regularly held to make all employees aware of the issue. Bank has also undertaken campaign against money laundering in electronic Media.
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31.12.2007 Taka 4,299,269,940 671,113,391 3,628,156,549 1,860,735,223 718,485,962 1,142,249,261 574,080,317 8,884,601,130 5,855,269,461 3,029,331,670 40,915,352,218 39,303,901,301 1,611,450,918 2,381,004,409 4,634,821,166 63,549,864,403 1,872,010,028 53,375,348,391 4,371,717,515
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4,096,044,155 679,556,149 3,416,488,006 2,300,013,425 993,239,274 1,306,774,151 1,190,678,360 11,408,536,062 7,159,183,261 4,249,352,801 56,708,771,906 54,412,358,249 2,296,413,657 2,444,650,234 5,904,918,443 84,053,612,585 3,193,343,038 68,560,474,323 5,063,421,076
Demand deposits Bills payable Savings bank deposits Short-term deposits Fixed deposits Bearer certificates of deposit Other deposits Other liabilities Total Liabilities Capital/Shareholders' Equity Total Shareholders' Equity Paid-up capital Statutory reserve Other reserve Retained earnings Total Liabilities and Shareholders' Equity
6,722,505,347 4,511,589,265 2,229,785,400 743,261,800 2,066,121,258 1,356,905,450 636,829,248 715,626,287 1,789,769,440 1,695,795,728 84,053,612,585 63,549,864,403 (Source: ABBL Annual report 2008) 31.12.2008 Taka 31.12.2007 Taka 18,590,460,199 3,304,001,966 3,812,034,559 8,754,662,567 2,719,761,107 18,590,460,199 8,697,189,377 7,204,085,208
Off-Balance Sheet Items Contingent liabilities Acceptances and endorsements Letters of guarantee Irrevocable letters of credit Bills for collection Other contingent liabilities Other commitments Documentary credits and short term trade-related transactions Forward assets purchased and forward deposits placed Undrawn note issuance and revolving underwriting facilities U d f l t db f iliti dit li d th it t Undrawn formal standby facilities, credit lines and other commitments Total Other memorandum items Customers' stocks of securities-Merchant Banking Wing Value of traveller's cheques Value of savings certificates (Sanchaya Patra)
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2007 Taka 5,269,904,660 (3,830,623,489) 1,439,281,171 1,734,306,446 1,305,338,922 177,654,705 3,217,300,074 4,656,581,245 696,776,012 144,255,680 1,912,103 57,413,151 44,720,259 5,599,996 1,588,592 2,116,415 117,971,014 258,934,177 1,331,287,400 3,325,293,845 366,000,000 9,400,000 131,900,000 507,300,000
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7,366,847,213 (5,336,153,274) 2,030,693,938 2,152,888,463 1,759,019,171 206,424,306 4,118,331,939 6,149,025,878 1,008,675,512 173,906,367 4,409,340 57,105,073 64,989,223 7,341,452 2,378,949 1,562,100 154,558,663 375,711,044 1,850,637,722 4,298,388,155 281,266,515 117,153,000 299,347,000 697,766,515
Profit before taxation (c-d) Provision for taxation Current tax Deferred tax Net profit after taxation Appropriations Statutory reserve General reserve Dividends, etc Retained surplus Earnings Per Share (EPS)
720,124,328 563,598,769 720,124,328 563,598,769 1,580,497,312 1,339,895,076 103.18 85.37 (Source: ABBL Annual report 2008)
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Cash Flows from Financing Activities I /(d )fl t b i Increase/(decrease) of long-term borrowings Dividend paid Net cash flow from financing activities (c) Net increase/(decrease) in cash (a+b+c) Effects of exchange rate changes on cash and cash equivalents Cash and cash equivalents at beginning of the year Cash and cash equivalents at end of the year (*) (*) Cash and cash equivalents: Cash Prize bonds Money at call and on short notice Balance with Bangladesh Bank and its agent bank(s) Balance with other banks and financial institutions
191 960 407 191,960,407 852,473,760 6,738,242,780 7,590,716,540 679 556 149 3,980,600 1,190,678,360 3,416,488,006 2,300,013,425 7,590,716,540
176 292 365 176,292,365 1,695,392,638 5,042,850,141 6,738,242,780 671,113,391 4,157,300 574,080,317 3,628,156,549 1,860,735,223 6,738,242,780
CHAPTER
3
General activities of ABBL
Content
3.1 3.2 3.3 3.4 3.5 3.6 3.7 3.8 3.9 3.10 General banking Remittance in Bangladesh Local Remittance Clearing section Cash section Dishonor of cheques Deposit section Accounts section Credit and Risk Management (CRM) Foreign exchange
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General Banking
Accounts Opening
Cash
Remittance
FDR
Accounts
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accounts openers. A customer can open different types of accounts from this department. The accounts that are currently provided by the AB Bank are list out bellow: Current & Short term deposit Account (CD) Saving Account (SB) Fixed Deposit Account (FDR) Monthly Saving Deposit (MSDS) Double Deposit (DDS) Special Term Deposit (STD)
Banks prescribed Account opening application form (to be signed by the applicant in front of BM/RM/CSM) Two Passport Size Photograph of the Account holder(s) attested by the introducer. Specimen Signature Card (To be signed by the applicant in front of BM/RM/CSM) Estimated Transaction Profile and Any of the following Identification Documents Issuing Authority Passport Office Bangladesh Road Transport Authority Election Commissioner Employer or their delegate Employer or their delegate
Name of Identification Document Current valid passport Valid driving license Voter ID Card Armed Forces ID card A Bangladeshi employer ID card bearing the
photograph and signature of the applicant A certificate from any local government UP Chairman / Ward Commissioner organs such as Union Council chairman, ward commissioner etc. (In this case the certifier should attest applicants photograph along with signature Trade license with photograph can be Local Govt Authority / UP Chairman accepted for individual's identification
FOREIGN EXCHANGE ACTIVITIES OF ABBL
Commissioner The idea is any document showing photograph, signature and address of the customer issued from a dependable authority (Managers and Supervisors have to apply judgment) are acceptable. All photocopies should be verified with the original and attested by an authorized officer of the Bank. DSEs or other contractual staffs are not allowed to verify photocopies. Particular care should be taken in accepting documents, which are easily forged, or which can be easily obtained using false identities. 3.1.2.2 Sole Proprietorship Account
Banks prescribed Account Opening application form. (to be signed by the applicant in front of BM/RM/CSM) Two Passport Size Photograph of the Proprietor attested by the introducer Specimen Signature Card (To be signed by the applicant in front of BM/RM/CSM) Copy of valid Trade License issued by Local Government authority (City Corporation, Pourashava, Union Parishad etc.) Permission from Bangladesh Bank (For Buying House, Indenting or other specific businesses) TIN issued by Income Tax Authority The personal identity of the proprietor of the Firm has to be established by any of the documents as mentioned in Individual or Joint Customer category. If the Trade License carries the photo and signature of the Proprietor this is not required.
Banks prescribed Account Opening application form Certified copy of the Memorandum & Articles of Association of the Company Certificate of incorporation Certificate of commencement of Business (For Public Limited Companies only) Extract of the Board resolution sanctioning the account opening and signing authority List of the Director with address in form - XII. Photograph of the signatories
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Copy of valid Trade License Introducers signature in the A/C opening form and at the back of the photograph(s) of Account holder(s). List of names with Appointment letter and Specimen Signature of the Persons authorized to operate the Account. The personal identity of all the directors or beneficial owner(s) proprietor of the Firm has to be established by any of the documents as mentioned in Individual or Joint Customer category.
Banks prescribed Account Opening application form signed by the partners in front of BM/RM/CSM Certified copy of Partnership Deed/ Agreement List of the Partners with Address Extract of resolution of the partners Meeting Copy of valid Trade License Photograph of the signatories/ Partners Specimen signature card (To be signed by the signatories in front of BM/RM/CSM Introducers signature in the A/C opening form and at the back of the photograph(s) of Account holder(s). Identity of all Partners/ Directors must be verified in line with the requirements for personal customers. Where a formal partnership agreement exists, a mandate from the partnership authorizing the opening of an account and conferring authority on those who will operate it should be obtained.
Evidence of the trading address of the business or partnership should be obtained and a copy of the latest report and accounts (audited where applicable). An explanation of the nature of the business or partnership should be ascertained (but not necessarily verified from a partnership deed) to ensure that it has a legitimate purpose.
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Corporate Banking
AB Bank provides complete range of solutions to meet Corporate Customers' requirement. AB banks Corporate Banking solutions include a broad spectrum of products and services backed by proven, modern technologies. Corporate Lending AB Banks specialist teams offer a comprehensive service providing finance to large and medium-sized businesses based in Bangladesh. Structured Finance AB Bank has a specialist Structured Finance Team who arrange and underwrite finance solutions including Debt and Equity Syndication for financial sponsors, management teams and corporate. ABBL also provide corporate advisory services. ABBLs aim to provide tailored financing solutions with a dedicated team who can rapidly respond to client needs. Following are some of the products and financial tools of Corporate Banking:
Project Finance Working Capital Finance Trade Finance Cash Management Syndicated Finance, both onshore & off-shore Equity Finance, both onshore & off-shore Corporate Advisory Services
Retail Banking
Unsecured Loans Product Name Personal Loan Target Employees of reputed Local Corporate, MNCs, NGOs, Airlines, Private Customer Universities, Schools and Colleges, International Aid Agencies and UN bodies, Government Employees, Self-employed Professionals (Doctors,
FOREIGN EXCHANGE ACTIVITIES OF ABBL
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Purpose
Engineers, Chartered Accountants, Architects, Consultants), Businessmen. Marriages in the family, Purchase of office equipment / accessories, Purchase of miscellaneous household appliances, Purchase of Personal Computers, Purchase of audio-video equipment, Purchase of furniture. Minimum Tk. 25,000.00 Maximum Tk. 5,00,000.00 Application fee: Tk. 500.00 Processing fee: 1% on the approved loan amount or Tk. 2000.00 whichever is higher Min 12 months Max 36 months 14.50% p.a. - 17.50% p.a. Hypothecation of the product to be purchased. Two personal guarantees (as per list of eligible guarantors)
Auto Loan Employees of reputed Local Corporate, MNCs, NGOs, Airlines, Private Universities, Schools and Colleges, International Aid Agencies and UN bodies, Government Employees, Self-employed Professionals (Doctors, Engineers, Chartered Accountants, Architects, Consultants), Businessmen To purchase Brand new vehicle, non-registered reconditioned vehicle 70% for the brand new car 60% for the reconditioned car but must not exceed BDT 10,00,000.00 Application fee: Tk. 500.00 Processing fee: 1% on the approved loan amount or Tk. 5000.00 whichever is higher For Reconditioned Car: Max 36 months For Brand new Car: Max 60 months 14.50% p.a. - 17.50% p.a. Hypothecation of the vehicle to be purchased. Two personal guarantees (as per list of eligible guarantors)
Easy Loan (For Executives) The loan is specially designed for salaried people who are employed in
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Customer Purpose
different reputed companies Marriages in the family, Purchase of office equipment / accessories, Purchase of miscellaneous household appliances, Purchase of Personal Computers, Purchase of audio-video equipment, Purchase of furniture, Advance rental payment, Trips abroad, Admission/Education fee of Children etc. Minimum Tk. 50,000.00 Maximum Tk. 3,00,000.00 Application fee: Tk. 500.00 Processing fee: 1% on the approved loan amount or Tk. 1000.00 whichever is higher Min 12 months Max 36 months 16.00% p.a. Letter of confirmation from the employer. One personal guarantee (as per list of eligible guarantors)
Gold Grace - Jewellery Loan Both female & male employees may apply viz. employees of reputed Banks & Leasing companies, reputed Local Corporate, MNCs, NGOs, Airlines, Private Universities, Schools and Colleges, International Aid Agencies and UN bodies. Government Employees. Self-employed Professionals (Doctors, Engineers, Chartered Accountants, Architects, Consultants). Businessmen with a reliable regular source of income. To purchase ornaments/Jewellery for personal use Minimum Tk. 50,000.00 Maximum Tk. 3,00,000.00 Application fee: Tk. 500.00 Processing fee: 1% on the approved loan amount or Tk. 1000.00 whichever is higher Min 12 months Max 36 months 16.00% p.a. Letter of confirmation from the employer. Personal guarantee from the
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parents and spouse (if married) Product Name Target Customer House/Office Furnishing/Renovation Loan Expatriate Bangladeshi nationals who are in business or service holders. Employees of reputed Banks & Leasing companies, reputed Local Corporate, MNCs, NGOs, Airlines, Private Universities, Schools and Colleges, International Aid Agencies and UN bodies. Government Employees. Self-employed Professionals (Doctors, Engineers, Chartered Accountants, Architects, Consultants). Reputed and highly respectable Purpose Businessmen with a reliable source of income House/Office Furnishing/ Renovation, For interior decoration / Titles Stones, Electrical fittings, wooden cabinets / Overall furnishing and all Loan Amount Charges types of House/Office Renovation, purchase/furnishing of apartments etc. Minimum Tk. 1,00,000.00 Maximum Tk. 10,00,000.00 Application fee: Tk. 500.00 Processing fee: 1% on the approved loan amount or Tk. 2000.00 whichever Tenor Rate of Interest Security is higher Min 12 months Max 48 months 16.50% p.a. Title deed of the House/Office to be furnished/renovated along with memorandum of deposit of title deed duly supported by a notarized power of attorney to be kept by the bank as a matter of comfort. Two personal guarantees (as per list of eligible guarantors). Registered mortgaged of the property if the loan amount is more than Tk. 5.00 lac Product Name Target Customer Purpose Staff Loan All permanent employees of ABBL Marriages in the family, Purchase of office equipment / accessories, Purchase of miscellaneous household appliances, Purchase of Personal Loan Amount Charges Computers, Purchase of audio-video equipment, Purchase of furniture According to the debt burden ration and other criteria Processing fee: 1% on the approved loan amount
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Min 12 months Max 36 months 15.50% p.a. Hypothecation of the product to be purchased Education Loan Students Criteria: Students of reputed Educational Institutes, such as Public & Private Universities, Medical Colleges & Engineering Institute. Undergraduate & Post graduate Level Professionals degrees (Chartered Accountants (CA), Cost & management Accountants (CMA), Marine, MBM, MBA) Doctorate degree (PhD), FCPS etc. Occupation: Student Minimum Age: 17 years Maximum Age: 40 years Educational Qualification: Minimum HSC/A-Level Pass. Parents Criteria: Service Holder: Individuals with ranks equivalent to Senior Assistant Secretary or higher would qualify guarantor Bank officials (Equivalent to Senior Principal Officer of NCBs, AVP / Branch Manager of Local and Foreign banks) and Department Head of Multinational Company or established Local Corporate. Guarantors must be accepted by the Branch Manager / Head Office. Businessman: Well reputed and widely respected Self-employed professionals To Financially Assist The Parents: Admission/Education Fees, Semester Fees, Study abroad Minimum Tk. 50,000.00 Maximum Tk. 3,00,000.00 Application fee: Tk. 500.00 Processing fee: 1% on the approved loan amount or Tk. 1000.00 whichever
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Tenor Rate of Interest Security Secured Loans Product Name Target Customer Purpose Loan Amount Charges Tenor Rate of Interest Security
is higher Min 12 months Max 36 months 14.50% p.a. - 16.00% p.a. One personal guarantees (as per list of eligible guarantors)
Personal Loan All Clients of ABBL To meet personal requirement of fund Maximum 95% of the present value of the security Processing fee: Tk. 1000.00 Min 12 months Max 36 months 13.50% p.a. - 16.50% p.a. (subject to type of the security). 2% spread must be maintained in case of own bank FDR Lien over FDR, BSP, ICB Unit Certificate, RFCD, NFCD, and CD account(s) etc. One personal guarantee in case of third party cash collateral (as per list of eligible guarantors)
Product Name Target Customer Purpose Loan Amount Charges Tenor Rate of Interest Security
Personal Overdraft All Clients of ABBL To meet personal requirement of fund Maximum 95% of the present value of the security Processing fee: Tk. 1000.00 Revolving with annual review 13.50% p.a. - 16.50% p.a. (subject to type of the security). 2% spread must be maintained in case of own bank FDR Lien over FDR, BSP, ICB Unit Certificate, RFCD, NFCD, and CD account(s) etc. One personal guarantee in case of third party cash collateral (as per list of eligible guarantors)
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different industrial and national development activities in addition to normal Trade Finance and SME development. In addition to the 74 Branches within the country ABBL has a branch in Mumbai, India. Beside that ABBL has a wholly owned Finance Company in Hong Kong in the name and style of AB International Finance Limited and representative offices at London and Yangoon. To expand its horizon, ABBL launched its Merchant Banking operations in the year 2003. As a full fledged merchant banker, ABBL provides the following services: 1. Portfolio Management 2. Issue Management 3. Underwriting 4. Corporate Advisory 5. Bankers to the Issue 6. Private Placement The Merchant Banking Wing (MBW) of ABBL has made notable progress and is presently equipped to serve customers needs by offering a comprehensive range of financial solutions. ABBL has also launched Custodial Services with a view to provide one-stop Capital Market services to ABBL valued clients. ABBL understand an entrepreneurs need for stability, trust, innovation and creativity required for the consolidation and growth of investments and endeavors to prosper. The professionals in ABBL MBW with its state of the art integrated computerized system, are always there to provide their vision, knowledge and service for client success.
In order to cater the demand of client AB Bank has segmented its portfolio in terms of loan size. As per this segmentation any loan over Tk. 10.00 Crore falls under the purview of Large Loan Unit.
In AB Bank, there is also a separate Project Finance unit who evaluate the business. The unit is entrusted to handle the portfolio in a focused manner. AB Bank is always in fore front to support establishment of new projects of diverse nature which will help to broaden the manufacturing arena vis--vis to generate to employment.
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SME Banking
SME Loan Considering the volume, role and contribution of the SMEs, in the last two decades AB Bank has been patronizing this sector by extending credit facilities of different types and tenor. As of now 54% of the banks total loan portfolio is segmented to the SMEs which deserve all out attention in ABBL plans, projections and forecasting. As such the bank has emphasized on the following issues:
To provide the best services to the SME sector To increase the SME portfolio of ABBL significantly To improve the quality of ABBLs portfolio
Agro machinery Poultry Animal Feed Dairy Product Fruit Preservation Hotel & Restaurants Garments Accessories Leather products Plastic product Furniture : Wooden & Metal Ink Paint Printing & Packaging Wire & Cable Aluminum Cement and Lime Plaster Clinics and Hospitals Engineering & Scientific Instruments
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Brokerage Service
Introduction: AB Bank Foundation (ABBF) is a subsidiary company of AB Bank Limited having holding 99.60% shares of the ABBF. The company was first established under the trust deed constituted and registered on the 14th day of May 2002. Subsequently the trust by a resolution of its Board of trustee in its 3rd meeting held on 29.12.2002 resolved to cancel the Trust Deed and utilize the trust fund for the foundation of a company limited by guarantee primarily for charitable purpose. Then the company was incorporated on 3rd day of November 2003 under section 28 of Companies Act 1994, a company limited by guarantee. The certificate of incorporation is C558(10)/2003. The ABBF and its activities: AB Bank Foundation (ABBF) is one of the countrys leading securities broker houses of Dhaka Stock Exchange (member # 201) and Chittagong Stock Exchange (member # 101). ABBF has started its operation by soft launching on 28th August 2006. Initially, ABBL have started its operation by giving service to client of AB Bank Merchant Banking wing. ABBL have already started operation in full swing in ABBLs corporate head office and Chittagong. In near future, ABBL will start Mohakhali and Agrabad branch operation. Services: 1. Brokerage Services AB Bank's subsidiary, AB Bank Foundation, which has corporate memberships on the Dhaka and Chittagong Stock Exchanges, can act as brokers on behalf of local and foreign individual and institutional client to trade in the local capital market. AB Bank's Sales & Trading Department will also support brokerage service for offloading shares through direct listing. 2. CDBL Services as full service Depository Participant (DP) As a full service depository participant, AB Bank Foundation provides following services, a)BO (Beneficial Owner) accounts opening and maintenance. b) Dematerialization & Rematerialization
FOREIGN EXCHANGE ACTIVITIES OF ABBL
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c) Freeze (freeze request and release request) and suspensions d) pledging, unpledging and confiscation e) BO ISIN balances and master maintenance enquiry
Custodial Service
Customers: Investors Who Are Interested to Invest In the Bangladesh Capital Market Non Resident Bangladeshi (NRBs) Foreign Institutional and individual clients Local Institutions Sponsors' group and High net worth client
Services: Safe custody of client securities Foreign Trade Execution and Settlement Share transfer in the name of client Complete the Dematerialization process as per client request IPO, Private Placement & Right share subscription as per client instruction with deposit All types of corporate action that includes cash dividend, bonus share and right share collection Open BO account Instant information regarding client securities position as per their request Quarterly reporting to the client by Custodial Department
Account Opening Procedure: A. Account Opening Procedure 1. Criteria for opening an account: i. The non-resident investor shall open a NITA (Non-resident investors taka account) with any commercial bank in Bangladesh, with freely
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convertible foreign currency remitted from abroad through normal banking channel or by transfer of funds from the non-resident investor's foreign currency account, if any, in Bangladesh; ii. Any two Bangladeshi national and Non Resident Bangladeshi of sound mind having a minimum age of 18 years may open two accounts on each in their single name and the other in their joint names. iii. iv. v. Account opening absolutely depends upon the management of ABBL. Proper documents should be submitted at the time of account opening. Foreign investor has to open FC account along with NRITA account at the time of custodial account opening. B. Account opening formalities 1. Foreign Currency Account Opening: i. ii. iii. iv. v. vi. vii. Duly signed account opening form Submit Name, signature and photograph of the Nominee Transaction profile Signature of an introducer must be incorporated Supporting Documents: Copy of the passport Bank statement/ Work permit (in case of NRB)
2. Non-resident Taka Account (NITA) Opening: i. ii. Duly signed account opening form Transaction profile
3. Custodial Account Opening: i. ii. iii. iv. Duly Signed account opening form of Custodial Duly signed custodial agreement (must be signed in all pages) Duly signed Power of Attorney (POA) in non-judicial stamp of Tk. 200/* Supporting Documents:
Copy of the passport Bank statement/ Work permit (in case of NRB)
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4. Beneficiary Owner (BO) Account Opening: i. ii. Duly signed BO account opening form Duly signed BO agreement (must be signed in all pages)
5. Brokerage Account Opening: i. ii. iii. iv. v. vi. Duly signed account opening form with AB Bank Foundation Nomination Form duly signed Agreement with AB Bank Foundation Supporting Documents: Copy of the passport Bank statement/ Work permit (in case of NRB)
Procedure of Notarization of Power of Attorney Documents It should be notarized by the Notary Public at the place of its execution, thereafter to authenticate by Bangladesh Embassy, therein and Ministry of Foreign affairs of Bangladesh upon arrival in Bangladesh. Thereafter stamp duty of Tk. 200/- is to be paid in Central Treasury of the Government of Bangladesh through Treasury Challan.
Money Transfer
Western Union a fast, reliable and convenient way to send a money transfer. Western Union Financial Services Inc. U.S.A. is the number one and reliable money transfer company in the world. This modern Electronic Technology based money transfer company has earned world wide reputation in transferring money from one country to another country within the shortest possible time. AB Bank Limited has set up a Representation Agreement with Western Union Financial Services Inc. U.S.A. Millions of people have confidence on Western Union for sending money to their friends and family. Through Western Union Money Transfer Service, Bangladeshi Wage Earners can send and receive money quickly from over 280,000 Western Union Agent Locations in over 200 countries and territories world wide- the worlds largest network of its kind, only by visiting any branches of AB Bank Limited in Bangladesh.
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Foreign Remittance through Exchange House For Inward Remittance, AB Bank established extensive drawing arrangement network with Banks and Exchange Companies located in the important countries of the world.
Cards
In the present context of banking business in the world, Card is the future of any bank. Electronic payment system is now ruling the world and some days from now cash transactions system will turn into a history found only in the text book.
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AB Bank Limited is one of the leading first generation private sector commercial banks with Branch Network all over the country. The Bank started issuing VISA Credit Cards from the end of year 2004 as a principal member of VISA International. Brief description of different features: Card Conversion & Balance Transfer Plan 'Card Conversion & Balance Transfer Plan' to AB Bank VISA Credit Card will be extended towards all local Credit Cardholders of the market, provided that their 'other banks' credit card is in 'regular' state, not in 'overdue' state. Cardholders will repay the approved transferred amounts to AB Bank Credit Card Account in monthly installments stated in their monthly statements. Other bank credit cardholders having regular payment history will also be allowed to apply for this facility along with their new AB Bank Credit Card application form. People can convert their other bank card to AB Bank Card and get interest facility @ 19.95% on their outstanding. EasyBuy 'EasyBuy' Installment Plan to AB Bank VISA Credit Card will be extended towards all AB Bank Visa Credit Cardholders. Cardholders can convert any retail purchase done using AB Bank credit card into an installment scheme where they can pay back the amount at rate of interest of 19.95% per annum over a tenor ranging from 6 months to 48 months. Easy, convenient and affordable Under the Easy buy program, cardholder can choose own installment plan, ranging from 6 to 48 months. 1. Simple procedure, no documentation, no down payment 2. Available in comfortable payment options of 6 months to 48 months 3. Process just a call away No cash advance fee No cash advance fee for cash withdrawal from AB Bank ATM Booths & Tk.10 only per cash withdrawal will be charged from other Q Cash ATM booths. Market rate is Tk. 125 per cash withdrawal. Auto bills pay facility
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Hassle free monthly payment from AB Bank Account holders. Higher transaction limit AB Bank VISA card gives the facility to withdraw up to Tk. 60,000 or 50% of client credit limit (whichever is lower) of the credit limit from any ATM with Visa logo. Lot more features are in the pipeline to add more value to satisfy AB Bank customers.
Loan Syndication
Syndication or club financing is a growing concept in Banking Arena of Bangladesh. Syndicated finance diversifies the risk of one bank on a single borrower and increases the quality of loan through consensus or cumulative judgment and monitoring of different banks / financial institutions.
AB Bank, the first bank in the private sector also took initiative to adapt to this growing concept.
In 1997, AB Bank for the first time arranged a club financing with Dhaka Bank Ltd to raise Tk. 6700 lac - out of which ABBL financed Tk. 5700 Lac and Dhaka bank financed Tk. 1000 Lac.
In 1999, AB Bank arranged its second syndicated credit facility with IPDC to raise Tk 3563 Lac.
Since then AB Bank did not look back. Since 1997 to 2007 (till date), AB Bank has raised total Tk. 25989.56 Lac as Lead Arranger. The following banks from time to time have been partners in these syndications: Dhaka Bank, IPDC, EXIM Bank, Bank Asia, Oriental Bank, NCC Bank, The City Bank, Trust Bank, and Bank Asia.
AB Bank has also participated in different syndications arranged by other Banks, out of which till date 6 (six) syndication has successfully been completed. AB Bank exposure in these completed syndications was Tk. 4700 Lac.
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At the moment AB has participation in 19 (nineteen) syndicated facilities. AB Banks exposure in the ongoing syndication is Tk. 51560.29 Lac which is diversified in the following ten sectors:
Table 3.1: Sector Wise Exposure in Syndication SL 1 2 3 4 5 6 7 8 9 10 Sector Textile Micro-finance Cement Energy & Power Telephone (PSTN) Glass Sugar Steel Mills Paper Chemical Total ABBL Participation (Fig. in Lac Tk.) 9,533.57 3,000.00 7,990.00 11,997.00 5,500.00 900.00 900.00 9081.72 1158.00 1,500.00 51,560.29 (Source: www.abbank.com)
Islami Banking
To provide the Islamic banking services in accordance with the principles of Islamic Shariah, AB Bank has established Islamic Banking Wing and started its functioning by opening fullfledged Islamic banking branch on 23.12.2004. The branch is known as AB Bank Islami Banking Branch, Kakrail, and is situated at 82, Kakrail, Ramna, and Dhaka. Prominent Islami Banker Mr. M. Azizul Huq has joined the Bank as its Islamic Banking Consultant. A dedicated team of experienced Islamic bankers is working under his active guidance both at head office and branch level. A competent Shariah Council consisting of Islamic scholars, Ulema, Fukaha and Islamic bankers headed by Mr. Shah Abdul Hannan, a prominent Islamic scholar and former Secretary, Government of Bangladesh has also been formed to guide the Islamic
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banking affairs. Board of directors as well as management of the bank are very much interested to promote Islamic banking system in the bank aiming at opening more Islamic branches in the near future. AB Bank has already obtained membership of Islamic Banks Consultative Forum (IBCF) and Central Shariah Board for Islamic Banks of Bangladesh. The goals and objectives of Islamic banking Wing are as under:
To facilitate the Islamic banking system in the country To create new entrepreneurs and to arrange required finance for them To play effective role for socio economic development of the country To give assistance in launching welfare oriented economic system under Islamic values
Under this wing AB Bank extends the following Islamic banking services:
Mudaraba Savings Account Mudaraba Short Noticed Account Mudaraba Term Deposit Account (with different terms) Mudaraba Monthly Profit Account Al-Wadiah Current Deposit Account Mudaraba Deposit Pension Scheme
Besides Mudaraba Hajj Deposit Scheme and some other schemes are under process. Investment Services AB Bank Islmic Banking Wing provides investment facilities for project finance, working capital finance, SME finance, consumer / retail baking finance etc. under following modes:
Hire-Purchase under Shirkatul Melk (HPSM): Under this mode the Bank and the client procure asset such as machinery, land, car etc. on equity participation basis. The Bank rents out its portion of assets to the client for a certain period. The client pays the rental
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with a part of principal amount on monthly / quarterly basis. The client gets its proportionate ownership with the payment of monthly / quarterly installments. On maturity, total ownership of the assets automatically goes to the client as and when final payment of the account is made.
Ijara or Leasing: It is more or less like the HPSM. In this case equity participation may or may not exist. Ownership of the asset is not automatically transferred to the client with the payments of installments. On maturity, the bank transfers the ownership to the client on payment of certain transfer fees.
Bai-Muajjal / Bai-Murabaha: These modes are applicable for working capital finance. Under these schemes bank purchases goods / raw materials as per requirement of the client. In case of Bai-Muajjal bank receives the sales proceed on deferred payment basis. On the other hand in case of Bai-Murabaha Bank receives the sale price at the time of delivery of the goods / raw materials. Before handing over the goods / raw materials the bank generally keeps the same in its custody under pledge.
Musharaka : Under this mode the Bank and clients jointly participate in a project, in a scheme or project. Profit is shared between the Bank & the concerned client as per preagreed ratio. On the other hand loss is shared according to capital ratio.
Mudaraba: Under this mode bank finances the scheme as a Shaheb-Al-Maal (owner of the capital). Profit is shared between the two sides as per pre-agreed ratio.
Sector of Investment: Islamic Banking Wing of the bank finances in all sectors i.e., Industry, business, Agriculture, Real Estate etc. if purpose of the investment is permissible under Islamic Shariah. Limit of Investment: Investment is offered to the extent of single borrower exposure limit as fixed by the Bangladesh Bank from time to time. Foreign Trade: Islamic Banking Wing provides the following services at its foreign trade desks:
Opening of LCs
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Post -Import Finance Export bill purchase and negotiation Pre-shipment financing etc.
AB Bank Islamic Banking Wing has been continuously trying to expand its service horizon keeping the necessity of valued clients in view and upholding the principle of Islamic Shariah.
Future Products
Expansion To extend Merchant Banking services across the country, MBW has already launched its operation in Agrabad (Chittagong). ABBL are going to open 3 new service networks in Mohakhali (Dhaka), Uttara (Dhaka) and Sylhet soon. New Business In addition, AB Bank will also expand its operations in the investment banking in the following areas: Business Area Islamic Capital Market Products Derivatives Products Asset Management / Mutual Fund Status Processing Supporting infrastructure going to be prepared AB Bank is planning to launch and manage Mutual Fund in future.
Currently two types of voluntary international migration occur from Bangladesh. One takes place mostly to the industrialized west and the other to Middle Eastern and South East Asian countries. Voluntary migration to the industrialized west includes permanent residents, work permit holders and professionals. They are usually perceived as long term or permanent migrants. Migration to Middle East and South East Asia are usually for short term. The migrants return home after finishing their contract. Although long term migration is much older than short term yet information on their types, extent and composition is not available with the government. Information on the short term labor migrants who officially go overseas for employment is available with the Bureau of Manpower Employment and Training (BMET) Currently, Saudi Arabia, UAE, Kuwait, Qatar, Oman, Iraq, Libya, Bahrain, Iran, Malaysia, South Korea, Singapore, Hong Kong and Brunei are some of the major countries of destination. Saudi Arabia alone accounts for nearly one half of the total number of workers who migrated from Bangladesh. Labor market of Bangladeshi workers is not static. During the 1970s Saudi Arabia, Iraq, Iran and Libya were some of the major destination countries. While the position of Saudi Arabia remains at the top, Malaysia and UAE became important receivers. In mid-1990s, Malaysia became the second largest employer of Bangladeshi workers. However, since the financial crisis of 1997, Bangladeshis migrating to Malaysia dropped drastically Now UAE has taken over its place. Migrants use different methods in sending remittance involving both official and unofficial channels. Officially, transfer of remittance takes place through demand draft issued by a bank or an exchange house; travelers checks; telegraphic transfer; postal order; account to account transfer; automatic teller machine (ATM) facilities; electronic transfer and in kind. When remittances are transferred directly from the foreign account of migrant worker to his own account at home it is known as direct transfer. This can be through telegraphic means or otherwise. Remittances are frequently sent through demand draft in Taka issued by a bank or an exchange house in favor of a nominee of migrant. Usually the draft is sent by post or in emergency by courier service. One can send remittance through the postal authorities. In such case the remitted money is handed over to the receiver by the local post office. Travelers cheques are also used as a means to send remittance. However they will be treated as official transaction when they are encashed through banks. While coming from abroad one can bring in foreign currency. If the amount is more than US$5000 one has to declare at customs by filling
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up the FMJ form. Migrants can also send remittance to their Non-resident Taka and Nonresident foreign currency accounts.
It cannot be made payable to bearer. Its payment cannot be stopped or countermanded. It is always payable on demand.
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The slip has been properly filled up. The title of the account and its number. The amounts in figure and in words are same. Date of instrument. The cash amount or the document amount matches with the deposit slip that is deposited into the bank.
After checking all these thins the teller will accept cash, cheque, draft, pay order etc. against the deposit slip. The teller will place the cash into the cash drawer and make a seal on the deposit slip referring Cash Received and place to another authorized officer for signature then return a copy of the slip and preserve a copy as voucher for bank purpose. Other then the cash matter all the procedures are some the change is the other document is place to the remittance department for clearing the document.
A cheque must be looked whether it is an opened or cross cheque. The paying officer should see whether the cheque is drawn on this/her branch if the bank is not online. He must see if the cheque is post dated or predated. Precaution is must not pay any post dated cheque. The officer must carefully see the apparent tenor of the cheque. It is mutilated or materially altered then the officer must not be honoring it. The officer must compare the signature of the cheque with signature preserve for the particular account. The officer must verify the regularity of the endorsement. The officer may allow overdue against a cheque if prior arrangement is done with bank.
After verifying the above mentioned things the officer passes it to computer section for more verification. After that it is passed to the cash counter to make payment. By butting Pay Cash seal on the cheque. Then the officer makes payment to the concern person whom places the cheque on the counter of the bank. Canceling is must to make payment for cheques. More then one canceling is required depending on the amount of the cheque.
Clearing stamp required cancellation. Cheque crossed Account Payee Only Collecting banks discharge irregular/required.
Current & Short term deposit Account (CD): Current Account & short team mostly prefer by businessmen for their frequently transaction with in day. This account balance most change frequently than other types of account because customer can withdraw and deposit as many times they wish in the daily banking hours. There are some steps that customers follow to open a Current & Short term deposit Account (CD) with AB Bank Ltd. that are givens bellows: ABBL Current & Short term deposit Account (CD) meets the needs of individual and commercial customers with their attractive benefits Minimum balance: TK-10000/ ABBL Current & Short term deposit Account (CD) account maintenance charge for every six month is TK.300/Account closing charge is TK.300+ VAT 15% Withdrawal of money is permitted through the leaves of the cheque book issued by the bank in any branch.
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Customer Benefits: Cheque book facility. Collect foreign remittance through Western Union money transfers. Online facility to transfer of any amount of fund to any branch with some charge. Deposit other bank cheques through clearing house. Opportunity to apply for safe deposit locker services. Saving Account (SB): Retail customers always prefer saving account those who transaction amount less than current account. In Islampur branch most businessman open saving account for their family members. There are some rules and regulations to open a saving account are as follows: Any person or persons of more than 18 years having sound mind can open and operate this account singly and jointly. Minimum initial deposit is TK.5000/Provide interest at the rate @7% per month. Maintenance charge for every six month is TK.250/Withdrawal cannot be twice TK.20000/- in a month.
Fixed Deposit Account provide higher rate of return and that types of prefer businessman to save money for future investment in their business. ABBL provide Loan against such types of FDR. Monthly Saving Deposit (MSDS): AB Bank introduces a new Monthly Saving Deposit scheme AMAR SHOPNO for the segment of the population who seek an assured monthly earning. This is help to build peoples fortune and found their future, one step at a time. This time saving deposit scheme that provides individuals to create a saving pool, which allows them, access to a substantial amount at the end of tenure to materialize their dreams. Under this plan one can maintain accounts with deposits ranging from TK.500.00 and it multiple to a maximum of TK.5000.00 per month per account or in multiple accounts. The tenure can be of either 5 or 10 years. Term and condition of a MSDS Account:
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Account shall come into effect from the 1st week of the month. Account may be opened any day of the month in which case the effect will be from subsequent month. Monthly deposit has to be within first 10 days of the month A person can maintain multiple accounts for different amount of deposits at any branch Depositor can pay installments through any branch of the bank by paying a normal service charge. Loan may be allowed up to 75% of the deposit amount against lien/ pledge of the same account. (Minimum loan amount shall not be less than tk.15,000/-) Standing including can be given by the depositors to the branch concerned to pay regular installment from his/ her CD/SB account maintained with the branch through payment of Tk. 10.00 service charge per transaction. Clause 6 shall also apply.
A Fee of Tk.5.00 will be charged along with the installment for late deposit on every Tk.500/-.
Double Deposit Scheme (DDS): Double Deposit can only open in the personal name. ABBL offer only 6 (six) years duration double deposit scheme for their customer. The limit of deposit is 100000 to above. Special Term Deposit (STD): This is the special term deposit for ABBL customers. These types of account require more balance than any types of account to get interest at the rate of 5% to 7%.
Role of FCD
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Accounts department plays a vital role of commercial banking. In private banking sector Accounts Department / FCD of AB Bank Limited performs its task properly. The activities of FCD are as follows: 1. Recording the transactions in the cashbook. 2. 3. 4. Recording the transactions in general & subsidiary ledger. Preparing the daily position of the branch comprising of deposit & cash. Preparing the daily statement of affairs showing assets & liabilities of the Branch as per General Ledger & Subsidiary Leger Separately. 5. Making payment of all expenses of the branch. 6. 7. Recording inter branch fund transfer & providing accounting treatment in this regard. Preparing the monthly salary statements for the employees. Cash Reserve Requirement (C.R.R). 9. Preparing the monthly position of the branch which is sent to the Head Office to maintain Statutory Liquid Requirement (S.L.R) 10. Make Charges for different types of duties. 11. Preparing the budget for the branch by fixing the target regarding profit & deposit so as to take necessary steps to generate & mobilize deposit. 12. Checking of Transaction list. 13. Recording of the Vouchers in the Voucher Register. 14. Packing the Correct voucher according to the debit voucher & credit voucher.
8. Preparing the weekly position of the branch which sent to the Head office to maintain
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