National Bank's Foreign Exchange Department
Term paper
on
National Bank’s Foreign exchange department
Executive Summary
National Bank is one of the first leading Bangladeshi banks. It started its operation in 1983. Since then it is doing various operations in banking sector. According to these tasks NBL has different departments. Among them Foreign exchange department is most important one. Since the very beginning, the Bank exerted much emphasis on overseas operation and handled a sizeable quantum of homebound foreign remittance. The Bank established extensive drawing arrangement network with Banks and Exchange Companies located in important countries of the world. Expatriates Bangladeshi wage earners residing in those countries can now easily remit their hard-earned money to the country with confidence safety and speed. In the year 2000, the Bank managed to procure foreign remittance business to the turn of US$88.44 million dollar equivalent to Tk. 662.10 million compared to Tk. 3,986.20 million in the previous year indicating a growth of 16.96%.
It has trade relation with Myanmar and Singapore. It opens Export and Import letter of credit for exporters and importers. It also provides advance loan. It has many customized services for individual and commercial bodies.
NBL is on lie to establish trade and communication with the Prime International banking companies of the world. As a result NBL will be able to build a strong root in international banking horizon. Bank has been drawing arrangement with well conversant money transfer service agency “Western Union”. It has a full time arrangement for speedy transfer of money all over the world. Besides NBL also use other money transfer software and make contract with other financial institutions to exchange currency.
Table of Contents
1.
on
National Bank’s Foreign exchange department
Executive Summary
National Bank is one of the first leading Bangladeshi banks. It started its operation in 1983. Since then it is doing various operations in banking sector. According to these tasks NBL has different departments. Among them Foreign exchange department is most important one. Since the very beginning, the Bank exerted much emphasis on overseas operation and handled a sizeable quantum of homebound foreign remittance. The Bank established extensive drawing arrangement network with Banks and Exchange Companies located in important countries of the world. Expatriates Bangladeshi wage earners residing in those countries can now easily remit their hard-earned money to the country with confidence safety and speed. In the year 2000, the Bank managed to procure foreign remittance business to the turn of US$88.44 million dollar equivalent to Tk. 662.10 million compared to Tk. 3,986.20 million in the previous year indicating a growth of 16.96%.
It has trade relation with Myanmar and Singapore. It opens Export and Import letter of credit for exporters and importers. It also provides advance loan. It has many customized services for individual and commercial bodies.
NBL is on lie to establish trade and communication with the Prime International banking companies of the world. As a result NBL will be able to build a strong root in international banking horizon. Bank has been drawing arrangement with well conversant money transfer service agency “Western Union”. It has a full time arrangement for speedy transfer of money all over the world. Besides NBL also use other money transfer software and make contract with other financial institutions to exchange currency.
Table of Contents
1.