Internship Report on Foreign Remittance Activities of National Bank Limited. (Kawran Bazar Branch, Dhaka.)
CHAPTER-04
OPERATION OF FOREIGN REMITTANCE IN NBL KAWRAN BAZAR BRANCH
4.1 FOREIGN EXCHANGE:
Foreign Exchange Department is the international department of a bank. It deals globally. It facilities international trade through the various modes of services it possess. If the branch is an authorized dealer in foreign exchange market, it can remit foreign exchange from home country to foreign countries. The department mainly deals with foreign currencies. Hence it is called foreign exchange department. The department brides with the export, import and foreign remittance.
Following flow chart depicts the multifarious functions usually done by the FED.
Chart: multifarious functions usually done by the FED
4.2 FOREIGN REMITTENCE
The transfer of any funds across national boundaries. Foreign remittance means purchase and sale of freely convertible foreign currencies as admissible under Exchange Control Regulations of the country. Purchase of foreign currencies constitutes inward foreign remittance and sale of foreign currencies constitutes outward foreign remittance.
4.2.1 Types of Foreign Remittance:
There are two types of Foreign Remittance:
Foreign Inward Remittance
Foreign Outward Remittance
4.2.1.1Foreign Inward Remittance
Purchase of foreign currencies constitutes inward foreign remittance. For different use bank can purchase foreign currency such as endorsements.
4.2.1.2 Foreign Outward Remittance
Sale of foreign currencies constitutes outward foreign remittance. When bank sale the foreign currency to its customer or clients then it called outward foreign remittance. Such as FDD, TT etc.
4.2.2 Activities in foreign remittance in:
The Foreign Remittance department of National Bank Limited Ka wran Bazar Branch is equipped with a number of foreign remittance facilities. Following are the types of foreign remittance facilities offered by National Bank Limited Kawran Bazar Branch.
Issuance of Foreign Demand Draft (F.D.D)
Issuance of travelers Cheques
OPERATION OF FOREIGN REMITTANCE IN NBL KAWRAN BAZAR BRANCH
4.1 FOREIGN EXCHANGE:
Foreign Exchange Department is the international department of a bank. It deals globally. It facilities international trade through the various modes of services it possess. If the branch is an authorized dealer in foreign exchange market, it can remit foreign exchange from home country to foreign countries. The department mainly deals with foreign currencies. Hence it is called foreign exchange department. The department brides with the export, import and foreign remittance.
Following flow chart depicts the multifarious functions usually done by the FED.
Chart: multifarious functions usually done by the FED
4.2 FOREIGN REMITTENCE
The transfer of any funds across national boundaries. Foreign remittance means purchase and sale of freely convertible foreign currencies as admissible under Exchange Control Regulations of the country. Purchase of foreign currencies constitutes inward foreign remittance and sale of foreign currencies constitutes outward foreign remittance.
4.2.1 Types of Foreign Remittance:
There are two types of Foreign Remittance:
Foreign Inward Remittance
Foreign Outward Remittance
4.2.1.1Foreign Inward Remittance
Purchase of foreign currencies constitutes inward foreign remittance. For different use bank can purchase foreign currency such as endorsements.
4.2.1.2 Foreign Outward Remittance
Sale of foreign currencies constitutes outward foreign remittance. When bank sale the foreign currency to its customer or clients then it called outward foreign remittance. Such as FDD, TT etc.
4.2.2 Activities in foreign remittance in:
The Foreign Remittance department of National Bank Limited Ka wran Bazar Branch is equipped with a number of foreign remittance facilities. Following are the types of foreign remittance facilities offered by National Bank Limited Kawran Bazar Branch.
Issuance of Foreign Demand Draft (F.D.D)
Issuance of travelers Cheques