Investment and Foreign Exchange operation of Islami Bank Bangladesh Limited (ibbl) Table of Contents
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- LIST OF ILUSTRATION
- ACKNOWLEDGEMENT
- CHAPTER ONE: INTRODUCTION
- 1.2 SCOPE
| Investment and Foreign Exchange operation of
Islami Bank Bangladesh Limited (IBBL) Table of Contents: LIST OF ILUSTRATION 3 Executive Summary 4 ACKNOWLEDGEMENT 5 CHAPTER ONE: INTRODUCTION: 6 1.1 PURPOSE 6 1.2 SCOPE: 6 1.4 METHODS OF DATA COLLECTION 8 The study is performed based on the information extracted from different sources collected by using a specific methodology. This report is analytical in nature. The methodology is 8 1.5 LIMITATION OF THE STUDY: 9 9
Analysis: 47 Investment in Different Mode: 47 Table: (Amount in million Tk.) 47 48
4.2 FOREIGN EXCHANGE: 48 4.3 Functions of Foreign Exchange Department: 49 Exports: 49 LIST OF ILUSTRATIONExecutive SummaryIslamic banking is relatively a new concept in the world. Before the inception of Islamic banking phenomenon, banks were institutes to be avoided by the millions of Muslims. Keeping aloof themselves from banking, Muslims began to loss their market in the world economy. As the competition the business world became more and more severe, businesspersons had no alternative banking premises and many of them were getting involved in the traditional banking. However, the traditional banking is based on interest, which is fully prohibited in Islam. To overcome this problem, Muslim scholars, philosophers, economists etc. were thinking to establish a new interest-free banking structure right from the 1940’s. At last, they succeeded to formulate an appropriate Islamic banking structure. Many previous studies have been done in this regard. Islam is a complete code of life. It does not allow anything to be done in unislamic. So Islamic banks do not give more importance only on earning profit but also try to ensure social welfare in terms of its activities. Collecting foreign remittance is one of the important functions of the Islamic Bank. It is one type of a social activity and other side important source of bank’s income. Foreign remittance account is conducted based on profitability and safety of funds. One of the main objectives of collection of foreign remittances is to build up strong economic position of the country and other is increase profitability of the bank. Bank has several scheme for non-residents Bangladeshi and it always try to collect remittance of those people by easier way that is helpful for those people and benefit for Bangladesh government. IBBL has representatives in different countries to motivate non-residents Bangladeshi to open account and send their income as they save. Therefore, IBBL plays an important role to improve foreign remittance of the country. It will also participate for different development programmed and build up of social infrastructure, which is a part of state’s planning. Bank also uses their collecting money with the participation of govt. for creating more employment opportunities. Foreign remittance increase bank’s reserve and ultimate result is increase of Bangladesh Bank reserve and supporting to strong economic position of the country. All of the investment activities of the banks are conducted based on Islamic shariah. I tried to show the role of IBBL to improve foreign remittance and improve the economic condition of the country. ACKNOWLEDGEMENTIt is a great honor for me to submit this report to my respected internee supervisor and madam associate professor Ms.Samina M.Saifuddin. At first I want to convey my thanks and gratitude to her for assigning me to prepare internship report entitled, “Investment and Foreign Exchange operation of IBBL”, that help me to gather practical knowledge about the Investment and Foreign Exchange operation of IBBL. It would not be possible for me to complete this report, but for her help. Her continuous and enthusiastic monitoring has motivated me to reach my goal on time and with efficiency. My debt to her can only be gratefully acknowledged but can never be compensated. Last but not least thanks to Md. Kawsar Ul Alam, Vice President, Mohammead Akhter Hossen, Senior principal Officer, Md. Omar Faruk, principal Officer, Roizul Islam, Assistant Officer, Arifur Rahman, Officer, and other officials of IBBL for their comments & assistance. I express my deepest sense of regards and gratitude to them. CHAPTER ONE: INTRODUCTION:1.1 PURPOSEEvery activity is directed to achieve some specific purpose. This Internship Report also serves some specific purposes. The main purposes of this study are mentioned below:
1.2 SCOPE:The scope of this report is analytical. This report mainly focuses on the investment and foreign exchange operation of IBBL This report covers the details discussion of investment operation of IBBL. Import & Export business procedures of IBBL are also discussed in this report. Foreign remittance policies of IBBL are discussed herewith. Various statistical data are shown in this report. This report does not cover the General Banking activities of IBBL, Social activities of IBBL etc. 1.3 BACKGROUND For an expanding economy, a developed and efficient banking system is indispensable. Among others, it helps transfer of financial resources from surplus units to deficit units and, hence, helps accelerate the pace of development by securing uninterrupted supply of financial resources to people engaged in numerous economic activities. The tremendous development that the world economy has experienced in the last few decades was contributed by several factors among which, growing institutional supply of loan able funds must have played the pivotal role. The role of banking is comparable to what an artery system does in the human body. Both commercial banks and other development financial institutions provide short-term, medium-term, and long-term credits to businessmen and entrepreneurs who usually take the lead in ventures of economic development. Institutional supply of credit has been made possible by a system of financial intermediation organized in a way where conventional banks collect small savings from the public by offering them a fixed rate of interest and advancing the loan able funds out of the deposited money to enterprising clients charging relatively higher rates of interest. The margin between these two rates is the bank's income. In addition, banks also provide many other services to the public for which it receives service charges. For millions of Muslims, traditional banks are institutions to be avoided. Islam is a religion, which keeps believers from the teller's window. Their Islamic beliefs prevent them from dealings that involve usury or interest (Riba). Yet Muslims need banking services as much as anyone and for many purposes: to finance new business ventures, to buy a house, to buy a car, to facilitate capital investment, to undertake trading activities, and to offer a safe place for savings. For Muslims are not averse to legitimate profit as Islam encourages people to use money in Islamic legitimate ventures, not just to keep their funds idle. However, in this fast moving world, more than 1400 years after the Prophet (Sm), can Muslims find room for the principles of their religion? The answer comes with the fact that a global network of Islamic banks, investment houses and other financial institutions has started to take shape based on the principles of Islamic finance laid down in the Quran and the Prophet's traditions 14 centuries ago. Islamic Banking beyond the traditional banking system will serve the purpose of Islamic ideology of ‘complete code of life’. One could conclude that Islam has many universal values in common with the west. As Islam believes the earlier scriptures in its original form were from the same God (Allah), this is not surprising. However, the specific prohibition of interest and establishment of the zakat tax, and the status of law on gambling, uncertain contracts etc. which are prohibitions and not moral exhortations, implies that the objectives of banking in Islam is different from conventional and even to a certain extent social and environmental investment. Thus, there is a need for an Islamic investment system and foreign exchange operation in the Banking arena. Directory: uploads uploads -> 587 Return function, r i(X) r i(0) r i(1) r i(2) r i(3) 1 0 2 4 6 Thermal Station, I 2 0 1 5 6 3 0 3 5 6 10 uploads -> Department of science and humanities department of mathematics part-a questions and answers uploads -> The Case Against the nypd’s Quota-Driven ‘Broken Windows’ Policing What Is It? uploads -> For want of a nail uploads -> Ownership Models There are two different types of ownership models uploads -> Police Militarization uploads -> City of rising star regular meting thursday, july 14, 2016 uploads -> Township of winfield uploads -> Stop Militarizing Law Enforcement Act of 2014 uploads -> The Black Panther Party’s Ten-Point Program What We Want Now! Download 356.05 Kb. Share with your friends:
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