Promoting Genesis fitness through youtube Research Paper

Promoting Genesis fitness through youtube - Research Paper Example The maximum amount to pay when one potential customer clicks an ad is 1 USD. Upon completing a set budget, the promotion page becomes inactive pending the following day. In this regard, it is possible for the Company to kick start the promotion strategy with any agreed budget and increase the budget with time. This is done by signing into the Company’s YouTube account, click on the account name located on the right side corner and select the preferred settings. Click on promote video link on the settings page. The company will achieve many benefits by promoting on YouTube which includes the following: it will reach out to new target audiences that the Company did not have or could not reach organically. The Company will also achieve its set goals of selling its services to the target customer. Above all, the Company will also turn the existing audiences to be subscribers and increase

Is Unbridled Freedom A Myth Or Reality Education Essay

Is Unbridled Freedom A Myth Or Reality Education Essay Freedom has been an object of study and discussion since antiquity. The definition, extent and implications of the idea of human freedom have been discussed in disciplines ranging from the arts, humanities and even the sciences. Freedom has been variously defined by many people. These definitions can be broadly classified into 2 categories for simplicity.  [1]   External Freedoms These include Legal and human rights that are conferred on human beings from the outside. These are circumstantial in nature. Their absence, misuse or withdrawal can be clearly seen and is usually protested against. These include freedom of speech and expression, freedom of religion, Freedom from want, Freedom from fear, freedom of association, freedom of thought, etc. Internal Freedoms These are more Metaphysical in nature. Internal freedoms concern our inner mechanisms, thought- processes and the freedom to self-determination. These are less obviously visible, more complex and have far reaching consequences for our powers of decision making, judging accountability and responsibility. It is these internal freedoms that are the subject of interest for students of psychology and for those interested in understanding human behavior. The most contentious issue has been whether human beings can be free at all. Is Unbridled Human freedom a myth? Are we always constrained by internal and external forces that shape our ideas and beliefs or does each individual have some autonomy to make his/her own decisions? Generally speaking, the disparate views on this issue fall into three main categories  [2]   The Deterministic View The Libertarian View The Compatibilist Approach The first two approaches agree that both freedom and natural causality cannot exist simultaneously. However, they derive two opposite conclusions from this incompatibility. The deterministic approach asserts that there is no possibility of freedom. Thought, action, events are already decided and human choices are severely constrained by events beyond our control. The idea of freedom is hence an illusion. The libertarian approach says the exact opposite. Inspired by modern, rationalist school of thought, it concludes that human beings have unlimited choices and are absolutely free to pick and choose, to think and to act, keeping in mind physical limitations. . These choices may be influenced by certain factors, but these decisions have the power to change the direction of natural events. The third approach is therefore called the compatibilist position. Some actions are free, while others are reflexive. Freedom and free will is understood as a part of the workings of the human brain. A person is responsible for an action when this action results from a conscious intention. To be responsible for an action is not to be ultimately responsible for it, in the sense of also being responsible for all the events in the causal chains that led to the existence of the conscious intention that determined the action. In this project, we will be taking the third position. We will attempt to show, by taking some examples relevant to our lives, that unbridled freedom is indeed a myth. Further, we propose that unbridled freedom is not an ideal to be cherished either. There are certain limits to the freedom that one person can enjoy, without trespassing on the freedoms of others or spreading chaos and disturbance in society. It is desirable to have some restrictions that enable us to live in society and differentiate us from animals. The first restriction that human beings face in the exercise of unlimited freedom is the constraints put upon us by society. Human beings are social animals that have agreed to give up certain rights and freedoms in order to gain the benefits of living in society. This has been explained by various social theorists under the idea of the Social Contract.  [1]   Living within society, human beings are influenced by three types of factors.  [2]   The genetic factors The way they are activated Interaction between inner potential and outer surroundings The first factor talks of our inheritance from society and parents. Both in terms of genetic material passed down to the next generation, as well as the collective social conscience, which is a determinate system of ideas and beliefs which creates social likeness among all members of society  [1]  . The second factor consists of inner characteristics inherited from our parents as they are expressed in us. Some are recessive, some are dominant, but both types play a role in determining who we are. The third factor brings in the importance of the interaction with society from birth, that moulds and shapes our personality in millions of imperceptible ways. The third factor is considered to be the most relevant and potent since its influence begins the moment we are born and serves to shape and mould the ideas generated through the first and second factors. Society is always present, both inside and outside us. It guides our behaviours, determines the range of our choices and influences our decision making process. Most of the time, we are unaware of this situation. Many times, we do not mind this intrusion. because most of the time we ourselves desire just that which society expects of us. We want to obey the rules. We want the parts that society has assigned to us  [2]   This is evident in the way that advertisements  [3]  , for example shape our choices. Individuals are often attracted to products that they may not otherwise buy, need or use, purely on the basis of the way it is presented on the television, in the print media etc. The advertising and marketing industries try to appeal to this tendency- to seek the opinion of others, to do what everyone else is doing, to conform to social norms and standards- to their own advantage. Another example of purely external factors influencing personal decisions is seen in the concept of opinion and exit polls. The Indian government has banned the airing of exit polls on television, until all phases of voting is over, due to the fear that expected results in one region may hamper the influence the voting patterns in other regions. Similarly, opinion polls can often become opinion-generating mechanisms. Another factor that has been very effective in influencing thoughts, actions and behaviour has been religion. All over the world, various religions have encouraged people to think within preset frameworks. There are however, two sides to this coin. The unifying potential of religion has been well researched by thinkers such as Emile Durkheim who has claimed that- A religion is a unified system of beliefs and practices relative to sacred things, i.e., things set apart and forbiddenbeliefs and practices which unite in one single  moral community  all those who adhere to them.  [1]   This positive view of religion is countered by Karl Marx who refers to religion as opium for the masses i.e. something that distracts them from alienation and hardship in this life, by promising leisure and comfort in the next, thereby serving the interests of the bourgeoisie. As an intrinsic part of the society we live in, religion- whether we accept it or not- is an important factor that influences the early development of our personalities. Its morals, values and teachings are instilled in us, and even if later in life we choose to turn away, these collective values remain with us. Another crucial institution that shapes us is the education system. The issue of freedom within the classroom and its importance in the learning process has been the subject matter of many debates. It is evident that unbridled freedom in a classroom, especially when the students are young or immature will only lead to chaos and confusion. The focus will be diffused since the authority of the teacher- who enforces discipline and concentration in the class will be lost. Also, the students, who are unaware of future benefits of studying certain difficult or complex subjects, will tend to avoid them altogether. As we have all experienced ourselves, unbridled freedom in the form of no attendance constraints usually leads to high levels of absenteeism. However, it is also important to consider what would be the case in a class with absolutely no freedom at all. Where the teacher is the absolute dictator and students have no rights, and only one duty- to listen to the authoritarian teacher. Such a scenario cannot be beneficial to the overall growth of the students. Their creativity will be stifled. Not allowed to ask questions or think independently, their curious and questioning natures will be subsumed under the weight of conformity, mediocrity and obedience. Education then divorces itself from understanding and development of the personality. It reduces to merely rote learning and superficial information gathering. This will have consequences for their future where they will be unable to take any independent decisions, never having faced that prospect earlier. As earlier, the most beneficial approach lies in the middle of these two extremes. Children must be given freedom within the classroom and within the education system. But how much authority should the teacher retain and how much he/she should leave the children to make their own decisions is a difficult question to answer. A number of theories have been put forward by various authors in this regard. Pioneers in child developmental theory- Jean Piaget (1896-1980), and Russian psychologist Lev Vygotsky (1896-1934), have powerfully influenced beliefs about interacting with children, how to set up learning environments, and expectations for childrens development.  [1]   There are some similarities and differences between Piagets and Vygotskys theories and these differences influence how teachers struggle and negotiate the location of their control and the childrens freedom in child-centred classrooms. The key difference between Piagets cognitive- constructivist theory and Vygotskys social constructivist theory lies in the role each theory assigns to the individual child and the social context of play in a Childs development. Although both approaches support the idea that individuals construct knowledge, Piaget and Vygotsky viewed nature (individual) and nurture (social context) as taking different roles in this process  [2]  . From the Piagetian perspective, individuals construct a personal reality based on previous knowledge and new experiences. Knowing is therefore, an interaction between the environment and the individual. For Vygotsky, learning is an interactive and constructive activity, and both society and individuals play essential roles in learning.  [3]   Both approaches emphasize the importance of social adaptation and social interaction in childrens learning, the difference comes in determining the direction of influence, that is, whether knowledge is constructed as a result of social interaction and then internalized (the Vygotskian view), or whether knowledge is constructed by the individual as a result of experience and then refined through testing in social situations (the Piagetian view) Moreover, both approaches locate learning within a social context, but each attributes different functions to that context. For Piaget, the importance of the social context is that it provides children with a means of testing the knowledge they had constructed. For Vygotsky, the social context is both the source and the cultural repository of the learning. The classrooms guided by Piagets theory give children the greatest degree of freedom. Teachers set up a rich environment for children to explore by themselves. Teachers are observers. On the other hand the classroom applying Vygotskys theory seeks to find a balance between teacher-directed and child-initiated activities. Teachers assist children and give them challenges in order that children may attain the top level within their zone of proximal development. Two other writers who have provided valuable insights about the tension between childrens autonomy and the teachers authority in classroom teaching are John Dewey (1859- 1952) and Maria Montessori (1870-1952). Both, Deweys Experience and Education (1998) and Montessoris Absorbent Mind (1995) discuss many points about the relationship between childrens freedom and teachers roles in education. Although their ideas about education are widely considered to be child-centred, they hold divergent views about childrens freedom and the role of the teacher. In Deweys Progressive Theory, democracy is the aim of schooling. The curriculum is child-centred and is rooted in the ideas of continuity and interaction in a social context. Learning is experiencing. Teachers and children decide together what experience is meaningful to each individual students current learning needs and later development. Moreover, the experience is always a transaction taking place between the individual and the environment.  [1]   Therefore, as children develop within a school that functions like a democratic society, they learn and develop the ability to function well in the larger democratic society. Dewey (1998) believed that childrens freedom should be constructed, that it is not simply a product of their free will. He made a distinction between freedom based entirely on free will (doing whatever one wants to do) and freedom of intelligence, which is constructed from purposes that are intrinsically worthwhile, through observation and exercise of judgment in real-life situations.  [2]   Further, he believed that, Guidance given by the teacher to the exercise of the pupils intelligence is an aid to freedom, not a restriction upon it  [3]   Therefore, teachers should act as the representative and agent of the interests of the group as a whole, and should be responsible for each Childs on-going growth with the community. Moreover, Dewey indicated that the ideal aim of education is the creation of self-control. The mere removal of restriction or external control is no guarantee that children have self-control.  [1]   Maria Montessori believed that children and their proper education is the key to building a new world. Education must develop the potential abilities of children, who (she believed) are endowed with unknown powers. The role of education is therefore, to offer an orderly environment and materials which children can explore, by themselves, in order to promote their development. Montessoris educational philosophy is centred on the interaction between objects and the individual. The teacher acts as an observer to find a childs inner spirit and offers an orderly environment in which children can develop and grow. Montessori believed that the child has the power to teach herself. Children can adapt and have the ability to develop freely, which can become directly visible if their minds are not oppressed by adults who may limit the childs inner work and weigh down his spirit  [2]   She indicated that child herself must become the centre of education and should be guided by her inward mind. Therefore, the teachers task is not to talk, but to prepare and arrange a series of motives that inspire children to develop without any need of direct instruction However, Montessori did not ask teachers to completely abdicate authority. She believed that authority does not come from the adults dignity, but from the help that parents or teachers are able to give to their children. Therefore, authority consists of teachers aim to help children construct their work, without posing a threat to the childrens minds or reconstructing the childrens work.  [3]   Although Montessori suggested that teachers should refrain from either interfering with children as they are absorbed in their work or preventing childrens free expansion, she still believed that teachers should interrupt children if the children persistently annoy the others, because it means the childrens spirits or disciplines of development would unfold negatively. Therefore, the teachers should interrupt to break this negative development and guide children toward the right track These theories lead to 2 types of classrooms, with varying degrees of teacher control and childrens freedom. It would be generally expected that these ruminations on students freedom would lead to a low teacher control and high student freedom scenario. However, this is not the case. Low Teachers control, High Students Freedom Some people may assume that the progressive way of teaching should be located in this quadrant because they believe high teacher control (the application of teacher authority) may oppress children and cause unjust power relationships between teachers and children. However, it has been seen that is impossible to help children attain educational goals without the teachers guidance. Those who advocate this view must critically examine the following questions: Does teacher control have to be contradictory to childrens freedom? Does teacher control automatically oppress childrens freedom? Does teacher control prohibit childrens learning initiatives?  [1]   High Teachers control, High Students Freedom Reflected by both Piagets and Vygotskys theories. A teacher may respect and value childrens unfolding development, but he/she must also set up the expectations and goals for learning and give some guidance to children. In this kind of interaction, teacher control and Childrens freedom are not thought of as opposite to one to another; they coexist and both are highly valued in the whole process of teaching  [2]   This process of education, that gives great degree of freedom to the student, yet locates a certain degree of guidance and control with the teacher has implications for the professional domain as well. When these students grow up and enter organizations, the degree of freedom they are used to exercising and the decision-making skills that have been instilled in them through the process acquire great significance. The degree of freedom that an organization gives to its employees is also an important factor. The interaction between freedom given to employees within an organization and the degree of freedom the employees are accustomed to function under is very complex and gives rise to different types of behaviours. For example, those who are brought up through a process that involves high degree of control by parents, teachers etc. may, on finding a low control environment within the organization, be unable to function and take independent decisions, or they may end up mis-using those freedoms. Freedom within an organization has many meanings, and always involves the complex dynamics between individual freedom and the importance of meeting organizational/ professional targets. Some of these include: Freedom to have flexible work hours to accommodate family and lifestyle, while still meeting organizational goals. Freedom to come to leadership with new ideas and opposing viewpoints, while learning to trust people and letting go of absolute control. Freedom to do things differently by leveraging personal strengths to achieve goals, while still maintaining a professional, formal attitude. Freedom to leverage social media to communicate professionally and to help build brand awareness for your organization, while not devoting too much time to personal issues. Freedom to celebrate great accomplishments and milestones, while at the same time, having the freedom to say (without judgment,), I dont know or I cant handle any more or I made a mistake. Freedom to be compensated fairly, equitably, and even sometimes generously There is no debate that these, and many more such freedoms within the workplace will unleash creativity, encourage an environment of innovation, lead to relaxed and more productive employees, increase employee retention, make jobs more interesting and inspire employees to perform better. But, like in the case of implementing freedom within the education system, here too, there needs to be a delicate balance between employee freedom and organizational support and guidance. To make this possible, one of the major factors is the top leadership and their management style. Many people contend that this is exactly what makes companies like Google India, MakeMyTrip,Intel Technology,  Marriott Hotels, NetApp India the top 5 places to work in (in India). Freedom can be planned. It is the result of a designing triad consisting of the planning agents assumptions, the planning systems conditions and the opportunities and/or barriers which enhance or hinder the exercise of freedom.  [1]   Depending upon the amount of freedom and flexibility that organizations give to employees, and the qualities and skills they expect in their employees, they can be classified under 3 broad categories  [2]  : The industrial organization The Industrial Economy required the mass scaling of production and distribution. It met the requirements for the design of systems for scale, and was successful in plugging workers in to execute their specialized tasks. This type of organization is based on physical capital. Intellect, obedience and diligence are important employee characteristics. Employees have little or no decision-making freedom. The information Organization The information organization Information is used to uncover patterns, reduce the costs of production and consumption and find new solutions to vexing issues. Workers employ their intellect to solve problems relating to data. This type of organization is based on similar employee characteristics as the industrial, but gives a greater degree of freedom to its employees. The creative/learning organization  [2]   The creative organization is based on ideas and values qualities like initiative, creativity and passion. These qualities are intrinsic to employees, and when given freedom, bloom to provide a competitive advantage to the company. These assets are not physical in nature like commodities; hence the organization needs to work on retaining its highly skilled employees. Gary Hamel has given some great examples of companies that are innovating in terms of management to encourage these traits in their employees. W.L. Gore is one such example. It has made the list of Best Places to work for the past 25 years. The Great Place to Work organization noted these four aspects of W.L. Gores culture: People experience tremendous freedom at Gore: the freedom to talk with whomever they need or want to, the freedom to make comments and provide input, the freedom to bring who they are to work, and the freedom to make commitments.  [3]   To conclude, this paper tries to argue that there is no such thing as unbridled freedom. Human beings are essentially social animals and they are born within society. Society shapes and moulds human behaviour, which may also be influenced by certain intrinsic genetic predispositions of individuals. However, Institutions like Religion, Education, the state, family, friends, etc. have a huge role to play in the way we develop into adults. These may be conducive to the development of a balanced personality. However, they may sometimes be oppressive and may deter us from reaching our full potential in terms of faculties like creativity, innovation, lateral thinking etc. Further, unbridled freedom, even if it existed, is undesirable since it disconnects us from the social nature of our lives. Unbridled freedom can be destructive, chaotic and may in fact hamper the optimum developmental process, as was explained in the discussion on freedom within education earlier. The situation with high teacher control and high student freedom was found to be the best approach to bringing freedom within the classroom. Finally, the degree of freedom we are used to exercising and functioning under has a significant impact in the professional scenario- both for the employee as well as the organization. Employees must learn to handle freedom with responsibility and accountability while organizations must work on loosening bureaucratic hierarchical controls and give more freedom to make decisions to their employees.

The Red Shoes :: English Literature Essays

The Red Shoes ‘The Red Shoes’ is an imaginary and unreal story related by Hans Christian Anderson. Anderson makes effective use of fantasy to teach a moral lesson. He builds up the story in such a way that the reader does not care for the validity of the incidents. The moral lesson is that the proud and the disobedient must suffer. Disobedience is a sin, and according to the Christian belief it is what started the demise in the heavens above, so anybody who commits it must suffer. Whatever sins man commits in his lifetime he is punished for them. If only he repents for his sins can he be forgiven and at least he can die in peace. God forgives them only when they repent for their sins. The story also presents another facts of the Christian belief about sin and punishment, which is based on the strict principles of repentance and forgiveness. In the story Karen is a poor but beautiful girl. At the death of her mother, a rich old lady takes her to her home and brings her up. The widow of the cobbler gave Karen a pair of red shoes, which she wore for the first time on her mother’s funeral. The old lady who adopted Karen disliked, the red shoes greatly because of Karen’s obsession for them and so she burnt them. Then once Karen saw the princess wearing beautiful red shoes. Her love for these shoes got re-ignited; she liked them a lot indeed. Karen grew up to be a beautiful damsel. She was to be made the member of the church. Her foster mother, the rich old lady bought her a lovely pair of shoes incidentally those shoes were also red in color. This fact has escaped the old lady’s notice, but Karen found them to be exactly what she yearned for. She went to church in those red shoes. She thought that everyone in the church was looking at her shoes. She wore them at the time of confirmation, which was not the proper occasion to wear them. Karen felt very proud of them. She even forgot to pray in the church when the old lady came to know about it she told Karen not to wear those shoes in future but once again she went to the church wearing those shoes. This accounted for the sin of disobedience she committed.

Using the Data and Your Economic Knowledge

Using the data and your economic knowledge, evaluate the possible consequences for UK macroeconomic performance if the euro area and the US seek to reduce their balance of payments deficits on current account. The four major objectives are (i) full employment, (ii) price stability, (iii) a high, but sustainable, rate of economic growth, and (iv) keeping the Balance of Payments in equilibrium.If a country is suffering from inflation and a balance of payments deficit, it is usually because the government is spending too much. In such circumstance, the Fund agrees to lend the country some â€Å"transitional funds†, providing the government agrees to reduce its deficit and slow growth in the money supply That should raise the value of sterling, reduce the price of imports, and reduce demand for UK goods and services abroad.However, the impact of interest rates on the exchange rate is, unfortunately, seldom that predictable. Changes in spending feed through into output and, in turn , into employment. That can affect wage costs by changing the relative balance of demand and supply for workers. But it also influences wage bargainers’ expectations of inflation – an important consideration for the eventual settlement. The impact on output and wages feeds through to producers’ costs and prices, and eventually consumer prices.Some of these influences can work more quickly than others. And the overall effect of monetary policy will be more rapid if it is credible. But, in general, there are time lags before changes in interest rates affect spending and saving decisions, and longer still before they affect consumer prices. Cutting the interest rate, causing savers to move their money from UK banks to other banks, this will cause a fall in demand for pounds and so a depreciation in the currency.This will therefore make UK exports seem cheaper abroad, and therefore increase the level of exports as we have greater international competitiveness on pri ce But there are certain draw backs, such as Savers are not garunteed to respond to a cut in the interest rate. and therefore the value of the pound may be unaffected? Lowering the interest rate will increase borrowing and expenditure, including increased expendiiture on imports therefore increasing the Balance of Payments deficit

Internshp on Performance Evaluation of Exim Bank Ltd

Internship REPORT ON EXPORT IMPORT BANK LIMITED TOPIC: Performance Evaluation of EXIM Bank Ltd. Special Focus on Foreign Exchange Division Department of Business Administration Submitted by www. AssignmentPoint. com Date of Submission: 17th May2012 LETTER OF TRANSMITTAL 17th May2012 To Lecturer Department of Business Administration Subject: Submission of the BBA Internship Report. Dear Madam, It is a great Pleasure for me that I have the opportunity to submit the Internship Report on performance evaluation of Export Import Bank of Bangladesh Limited special focus on foreign exchange division.The internship program gave me an opportunity to have an exposure to the working environment and on the job experience. I have acquired a good understanding on distribution channel of this multinational. I have tried my level best to put meticulous effort for the preparation of this report. Any shortcomings or fault may arise as my unintentional mistakes' I will wholeheartedly welcome any clarifi cation and suggestion about any view and conception disseminated through this report. Sincerely yours www. AssignmentPoint. com †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. SUPERVISOR’S CERTIFICATIONThis is to certify that student of department of BBA and major in Finance, has completed the Internship Report titled â€Å"Performance Evaluation of EXIM Bank Ltd. Special Focus on Foreign Exchange Division† successfully under my supervision. I wish her every success in life. Supervisor †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Lecturer Department of Business Administration Acknowledgement Allah is Almighty to mock internship report of my port of study of BBA Program. The accomplishment and completion of this report would not have been viable without the contribution of some people who took the time and effort to guide me in my report work.I deeply appreciate and value their suggestions and recommendations through the entire course of my report work. I would like to extend my heartiest thanks and my sincerest gratitude to all those who directly/ indirectly contribute to the compilation of report. I am especially grateful to my teacher, my internship supervisor. I could not prepare my Internship Report without her proper guidance and inspiration. Last but not least, I would like to give my thanks to all the members of EXIM Bank Ltd. , Panthapath Branch because working with them was such a wonderful experience in my life that I will never forget.TABLE OF CONTENTS Particular Page No |Executive Summary |VIII | | | | |CHAPTER-1 Introduction |1 | |1. 1 |Origin of the Report: |2 | |1. 2 |Objective of the Report: |2 | |1. |General objective of the Report: |2 | |1. 4 |Specific objective of the Report: |3 | |1. 5 |Scope of the Report: |3 | |1. 6 |Limitations of the Report: |4 | |1. 7 |Methodology of the Study: |4 | |1. |Sources of Information: |5 | | | | | |CHAPTER-2 Economic Conditions In Bangladesh |6 | | | | |CHAPTER - 3 Industry Analysis | | | | |CHAPTER-4 Company Analysis |12 | |4. 1 |Historical Background Of The Exim Bank |13 | |4. 2 |Vision |13 | |4. 3 |Mission |13 | |4. 4 |Objective |14 | |4. |Strategy |15 | | | | | |CHAPTER-5 The General Banking Division |16 | | | | |CHAPTER-6 Loans And Advances Department |24 | | | |25 | | | |29 | | | | | |CHAPTER-7 Foreign Exchange Department |39 | | | | |CHAPTER-8 Competitive position of Export Import Bank of Bangladesh limited with Premier Bank limited |45 | | | | |CHAPTER-9 SWOT & Financial Analysis |51 | | Swot Analysis | | |Ratio Analysis | | |CHAPTER-10 Recommendation & Conclusion |70 | |10. 1 |Findings |71 | |10. 2 |Recommendation |72 | |10. 3 |Conclusion |73 | | | | | Appendix |74 | |Bibliography |78 | Executive Summary Bank is a service oriented business organization. The prime goal of this organization is earning profit as another business organization. Customer service is core product of the bank. According to Bank Company Act 199 1 clause 5(3) Banker means that person or institute of accepting for the purpose of lending or investment of Deposit of money from public, repayable on demand.To know your customer is the main slogan in new modern Banking System providing customer services. EXIM Bank Limited has earned a good reputation around Bangladesh. Despite competition among banks operating in Bangladesh both local and international, EXIM Bank has made remarkable progress, practically in every sphere of its activities. Export Import Bank of Bangladesh Limited is a third generation private commercial bank in the country with commendable operating performance. This study is mainly based on performance evaluation of EXIM Bank Ltd. Special focus on foreign exchange division. In order to make foreign the report more meaningful and presentable, use both the primary and secondary sources of collection information. EXIM Bank Ltd. as already established a favorable reputation in the banking industry of the country. At is one of the leading private sector commercial banks in Bangladesh. The bank has already shown a tremendous growth in the profits and deposits sectors. To get competitive advantage and to deliver quality service management can establish training institute and credit car should be introduced. The over all performance of the bank is very good according to its competitive position. Within a near future EXIM bank will be a market leader among the banks. 1. Introduction: 1. 1 Origin of the Report: In today's world only academic education does make a student perfect to become competitive with the corporate & Global business world.By doing an internship program, a student can get the opportunity to learn facing about real business world. Internship is highly needed to gain idea knowledge and experience. I am a BBA graduate from Private University in Bangladesh. It has designed its curriculum of the BBA Program such a way that the international standard graduates will be produced. After co mpleting my 139 Credit hours I Need to go for further professional experience through Internship program in a Business organization EXIM Bank Ltd. is a place where I have learned the business dealings. This organization has created a positive image to the customer's mind by providing better service specifically I am telling about the Panthapath Branch.This branch has introduced an exclusive modern banking system that has got high market sharing and rating in the prominent business & banking avenue in Panthapath Bank way. As an BBA Internee Office I have tried to maintain the pace with the competitive business environment on official Activities Culture Philosophy Norms & Styles. It should be reflect the best at any field of my Professional life; The Vice President & Manger is my overall Guide Philosopher & Superior. By receiving his all sorts of cordial support I have been availed the opportunity to work with this branch for three months from 10th January 2010 to 9th March 2010. I ac quired idea about real business and corporate world. 1. 2 Objective of the Report: Prime objects to a large-scale study on Banking System. 1. 3 General objective of the Report:The report specification based on the overall banking performance evaluation and special focus on foreign exchange division of EXIM Bank Ltd. 1. 4 Specific objective of the Report: ? To apply theoretical knowledge in the practical field. ? To make a bridge between the theories and practical procedures of banking day-to-day operations. ? To know the different modes of scheme, in EXIM Bank. ? Trend analyses of the different scheme. ? To know the financial activity of bank. ? An overview on the major financial activity and practices of EXIM Bank ? To identify the strategies for EXIM Bank Limited, implementing in constant prosperity of the company ? Analyzing the performance trends of EXIM Bank. To give some idea about its management and organization structure ? To present and overview of EXIM Bank Ltd. ? Compare the different mode of scheme of Exim Bank with other similar bank. 1. 5 Scope of the Report: First the report presents about the current economic condition of Bangladesh and the present condition of the banking sector of our country and next it gives some ideas about EXIM Bank Ltd. Then it analyzes the performance of the bank based on financial analysis and SWOT analysis. After that, it emphasizes or foreign exchange division. By reading this report one can easily have some ideas about the performance and foreign exchange division of EXIM Bank Ltd. 1. 6 Limitations of the Report:Although there were sincere co-operation from employees of EX1M Bank Limited, Panthapath Branch, they could not manage enough time to provide the necessary information for the completion of the report. During the preparation of the report the following problems occurred that may be termed as the limitation or shortcomings of the study. Some of the limitations faced in preparing this report are: ? Confidentia lity the Bank's policy restricts disclosing some data ? Data about the performance of the bank of the year 2008 have not yet been disclosed by the bank. ? The study of such a short course of time is not free from limitation. ? The data relevant for the analysis report writing sometimes could not be collected due to excessive year-ending workload at the branch. It is too much difficult to comment and suggest based on only the annual report and information collected from written documents. ? As some assumptions were made with the help of limited information, there may be some personal mistake in the report ? It was very difficult to collect the information from various incumbents for the job restriction. 1. 7 Methodology of the Study: Although there were so many limitations, it was tried to use both the primary and secondary sources of collecting information to make the report presentable with as less abstraction as possible. 1. 8 Sources of Information: Two sources (i) Primary & (ii) Secondary A.Primary data: Primary data is always known as survey data. This type of data is collected from the respondent. For this personal Interview with the offices and customers have been conducted. B. Secondary Data: Data that were published before for some other reason can be collected using internal and external sources. i) Internal secondary data: To furnish the report properly some papers has been collected from the officials of EXIM Bank Ltd. Information from annual reports journals, newspapers and other published documents have been used besides other published information about the organization, depth interview of the branch manager and second branch manager have also taken. i) External Secondary data: For better interpretation some data has been collected from Bangladesh Bank. Internet Browsing is also one source of external Secondary data. 2. ECONOMIC CONDITIONS IN BANGLADESH Bangladesh has an agrarian economy with 32% of GDP coming from the Agriculture Sector. Major agricultural products are rice, jute, wheat, potato, pulses, tobacco, tea and sugarcane. . The country is the largest exporter of jute and jute goods in the world. Readymade garments are among the most exportable items. Tea, frozen shrimp, fish, leather goods and handicrafts are also major exportable commodities. The country has under gone a major shift in its economic philosophy and management in recent years.At Bangladesh's birth, the country embraced socialism as the economic ideology with a dominant role for the public sector. But, since the mid-seventies, it undertook a major restructuring towards establishing a market economy with emphasis on private sector-led economic growth. During the nineties, the country has completed a major stabilization program which has reduced inflation as well as fiscal and current account deficits and established a healthy foreign exchange reserve position with low and sustainable debt-service liabilities. With modest economic growth, the basic in dicators related to health, education and poverty have all shown sustained improvement.According to a World Bank estimate, Bangladesh has the 36th largest economy in the world in terms of GNP based on the purchasing power parity method of valuation, and the 55th largest in terms of nominal GNP in U. S. Dollars. Bangladesh economy grew on an average at above 6. 0 percent in the last four years up to FY07 . According to the provisional estimates of the Bangladesh Bureau of Statistics (BBS),real GDP recorded a strong growth of 6. 5 percent in FY07,which is marginally lower than 6. 6percent recorded in FY06 . This growth was commendable as it was achieved in challenging environment marked by high and volatile oil price ,phasing out of the MFA quota, labour unrest in the garment industry and confrontational political situation of the country in the first half of FY07. With reasonable support from agriculture sector, the 6. percent real GDP growth was underpinned mainly by industry sector and services sector. The expansion was broad based, registering positive growth by all sectors and sub-sectors of the economy. Spurred by a robust 9. 5 percent growth in industry sector and 6. 7 percent growth in services sector, GDP growth during the year was also aided by 3. 2 percent growth in the agriculture sector. The domestic savings-investment gap was met with net factor income from abroad which increased by 37. 0 percent in FY07 from 4. 4 percent in FY06 reflecting higher savings growth. The domestic savings investment gap was met with net factor income from abroad which increased by 37. 0 percent in FY07.The rising trend of inflation of FY06 as measured by CPI continued in FY07 mainly due to higher prices of oil and some other imported goods in the international market, distortion in the supply side factors and demand pressure generated from excess money supply . Slower import of consumer necessities pulling their domestic prices heightened the price pressures. Annual ave rage CPI (base FY96) inflation as of end June 2007was 7. 20 percent, compared to 7. 16 percent as of end June 2006. There was notable increase of food prices component of CPI inflation from 7. 8 percent as of end June 2006 to 8. 1 percent as of end June 2007. Maintaining a favorable investment environment and a sound macroeconomic management are important to strengthen private sector investment in the economy.In view of medium term outlook of sustainable economic growth and low inflation for world and south Asian economies and assuming continuation of prudent policies and progress in advancing structural reforms, the near and medium term economic prospects of Bangladesh appear favorable. 3. INDUSTRY ANALYSIS Bank plays an important role in this modern world. The development of industries and business sectors of a country mainly depends on good banking system. The industries and businessman are taking short and long term loan from banks. In the modern world international businesses a re fully depended on banks. Without sound banking system no country can develop in international trade. Bank constitutes an important segment of the financial infrastructure of any country. The economic history of many countries reveals that economic development and growth of financial infrastructure go hand in hand.Financial system of a country is the heart of a country’s economic system as it connects suppliers of the funds and demanders of fund, which is needed to produce economic goods. It also provides a large arena of employment opportunity. As Bangladesh is containing a bank base economy, its economic development is largely depended on the development of banking sectors. Bangladesh appeared as a new nation on the world map in the year 1971. After independence financial institutions, especially banks played a vital role in re-constructing the war-torn economy of Bangladesh. Bangladesh Bank is the central bank of the country and is in charge of monetary policies of the G overnment and controls all commercial banks. Development and growth of our banking system may be divided into three parts. The performance of our banking system during 1972 to 1982 was commendable in respect of expending network and providing easy credit to the socially desirable sectors but equally frustrating with regard to maintaining validity and customer services. The second phase from 1983 to 1989 was characterized by denationalization and privatization of banking system without broad-basing the prudential and information regulatory framework; however, these measures of denationalization and privatization could not bring the viability and operational efficiency of banking system.Under the above circumstances and with the recommendation of World Bank, a Financial Sector Reform Project (FSRP) was undertaken in 1989 by the government, which can be identified with third phase of the development of our banking system. The government of Bangladesh has also enacted some important act s namely financial institutions act 1993, Securities and Exchange Commission act 1993, the companies’ act 1994 and recently Bankruptcy act 1997. The present day banking structure has evolved over several decodes. The far-reaching program of economic reform is being carried out at present towards efficient utilization of scare resources and the development of private entrepreneurship. Banks are financial service firms, producing and selling professional management of the public's fund as well as performing many other roles in the economy.Banks are those financial institutions that offer the widest rang of financial functions of any business firm in the economy. Competition is strengthened by the entry of new and innovative provides of financial services, through the development of Money market and Capital market. Money market is designed for the making of short-term loans where individuals and institutions with temporary surplus of funds meet borrowers who have temporary cash shortages. Capital market is deigned to finance long-term loans where individuals and institutions with temporary surplus of finds meet borrowers who have temporary cash shortages. Capital market is designed to finance long-term investments.Private sector commercial banks are private companies operate under the legislative framework, which covers both Company Act, and Banking Company Act, under the ongoing financial liberalization, EXIM Bank emerges as a new Bank in private sector to operate at the Banking arena of Bangladesh It is committed to provide high quality financial services/ products to contribute to the growth of GDP of the country through stimulating trade and commerce, accelerating the pace of industrialization, boosting up export, creating employment opportunity for the educated youth , poverty alleviation, raising standard of living of limited income group and overall sustainable socio-economic development of the country. 4. COMPANY ANALYSIS 4. 1 HISTORICAL BACKGROUND OF THE EXIM BANK EXIM Bank- Export Import Bank of Bangladesh Ltd. was named at first as BEXIM Bank BEXIM stands for Bengal Export Import of Bangladesh. This new commercial Bank was opened in August 03, 1999 with some new innovative visions in customer services.The Bank received the certificate of incorporate no. C-37864 (2164)/99 under the commencement of the business on the same day by the section 150(2) under companies Act. A part from the head office in Dilkusha C/A, it stared its first local branch in Motijheel C/A simultaneously in order to provide all kinds of Banking support to the clients. On December 02, 1999 the second branches both in Dhaka City and other cities. Now it has twenty-five branches in the country. 4. 2 VISION The gist of EXIM bank vision is ‘Together Towards Tomorrow'. Export Import Bank of Bangladesh Limbed believes in togetherness with its customers, in its march or the road to growth and progress with services.To achieve the desired goal, there will be pursuit of excellence at all stages with a climate of continuous improvement, because, in EXIM Bank, they believe, the line of excellence is never ending. Bank's strategic plans and networking will strengthen its competitive edge over others in rapidly changing competitive environments. Their personalized qualities services to the customers with the trend of constant improvement will be cornerstone achieve their operational success. 4. 3 MISSION The bank has checked out the following corporate objectives in order to ensure smooth achievement of its goals- ? To be the most caring and customer friendly and service oriented bank. ? To create a technology base most efficient banking environment for its customers ? To ensure ethics and transparency in ail levels To ensure sustainable growth and establish full value of the honorable shareholders and ? Above all, to add effective contribution to the national economy Eventually the bank also emphasize on: ? Provide high quality financia l services in export and import trade ? Providing efficient customer service ? Maintaining corporate and business ethics ? Being trusted repository of customers’ money and their financial adviser ? Making its products superior and rewarding to the customers ? Display team spirit and professionalism ? Sound Capital Base ? Enhancement of shareholders wealth ? Fulfilling its social commitments by expanding its charitable and humanitarian activities 4. Objective Bangladesh is now integral part of global market. As such there is an urgent requirement for Bangladesh to place the traditional banking pretties in harness with the global trades of a free market economy by following international banking customs, practices and standards. Today clients of a bank in Bangladesh are exposed as well as international markets. They have to stay update with their practice and standards to meet the demands of achieving harmony in the high standards of a free economy. EXIM Bank fully appreciates the importance and implication of the rapidly emerging competition in the banking and finance sector of Bangladesh.It intends financing its customer suited to his or her place in the market. In this regards EXIM Bank emphasizes in its employment the software aspects of human resource capability. It also emphasizes competence among its banking professional to cater to vary customer requirements to the modern time. The objectives of EXIM BANK is not only to earn profit but also to keep the social commitment and to ensure its co-operation to the person of alt level, to the businessman, industrialist specially who are engaged in establishing large-scale industry by consortium and the agro-based export oriented medium and small scale industries by self inspiration.EXIM BANK is always ready to maintain highest quality of services by upgrading banking technology prudence in management and by applying high standard of business ethic through its established commitment and heritage. EXIM BANK is committed to ensure its contribution to national economy by increasing its profitability through professional and disciplined growth strategy for its customer and by creating corporate culture in international banking area. 4. 5 Strategy In order to reach the goal it is important to build strategy and follow the policies. If it can select the appropriate strategy and choose the right policy, it will be very easy to touch its desired position.The distinguishing attribute of policy is to set the over all boundaries for activities. According to this system when the bank was started it has to decide what kind of business it is going to be in. The Bank also has to decide on its growth and communicate through am system of major objective of the business is to reach the goal, to reach the desired position from the current status. There might be a number of ways to reach there and its has to be decided which path would be easier to reach the objective. So the authority has no decided wh ich path they select to proceed. The following figure can be explained clearly. Slogan of the EXIM Bank: â€Å"Local Bank Global Network†The world EXIM implies the meaning of its operation. Through it is a new type of Bank in Bangladesh; it is familiar with so many countries in the world such as Export Import Bank of the United States, Export Import Bank of Japan. Despite it is a local Bank, It has spread of its operation in the whole world through foreign Banking. To achieve the desired goal, it has intention to pursuit f excellence at stages with a climate of continuous improvement. Because it believes, the line of excellence is never ending. It also believes that its strategic plans and business networking will strength its competitive edge over in rapidly changing competitive environment.It motto I to provide quality service to the customers all over the world so, the slogan of the Bank â€Å"Local Bank Global Network† is completely adjustable with its operation. T HE GENERAL BANKING DIVISION Internship has provided the opportunity to coordinate the theoretical knowledge that one has gathered in MBA Class with the practical field. Although three months is not a very long period to learn the whole thing that usually occurs in an organization. The supervisor divided this report into three parts. 1) The general banking department 2) The Investment department 3) The foreign Exchange department. Learning experience from General Banking Division:The main business of this Division is dealing with Deposit. There are two types of Deposit in this Branch and General Banking division as the following section: 1. Deposit section 2. Account Section 3. Remittance section 4. Clearing section 5. Customer Service section 6. Cash section and 7. Information Technology section Task I Handled in this Division is 1. Opening Accounts 2. Opening Monthly saving scheme, 3. Modaraba Term Deposit Account Current 4. Deposit foreign current Deposit Account 5. Modarada short notice Deposit (STD). 6. Fixed Deposit, Steady Money. 7. Demand Draft (D. D) 8. Telegraphic Transfer (T. T) 9. Payment Order (P/O) 10. Travelers Check (T. C) 1. Issuing Check. Pay Order (PO): Pay order is one kind of unconditional promissory note or instrument that is issued by the Bank to the customer. The difference between check and pay order is the mode of encasement. Demand Draft: Demand Drafts are made for the transfer of money from one place to another in the form of cheques through a particular Bank, which can be ensued right way. The Bank issues DD for their outer district branches. Telegraph/ Telephone Transfer: When a certain amount of money is asked by the client to transfer from one branch to another than it is called telegraph/ telephone transfer. For TT, there is a particular from.When the form is filled up properly and deposits the amount by the applicant, the authorized officer issued a cost memo to the application for their confirmation. lssuing cheques Books: Che ckbook issue is a very sensitive because most of the fraud occurs through this checkbook. Customer requiring check books to fill out requisition ship. For saving accounts 10 pages check book issued and CD/SOD/ CC accounts issued 25 and 50 pages checkbook. Cash Section: In clearing section the work is to clear the cheques, DD's and PO's through Bangladesh Bank that are submitted for cash collection. Everyday morning House another in the evening called return house.In the hose all the Banks representative sit together and exchanges their money receive instrument of their particular bank to clear the paper and transfer to money the paper partlcular accounts. Type of Clearing: There is two type of clearing 1) In-Ward 2) Out –Ward In- ward: Those Cheques or instrument of EXIM, which are submitted to other banks for collections are called In – Ward Clearing. Out- Ward: The cheques of other banks that are submitted to the EXIM for collections are called out-ward Clearing. Cas h Section: Cash is the main element of all financial activities. The cash section of any branch plays very significant role. It's very sensitive place of the branch, because it deals with most liquid assets. The EXIM Bank Mirpur Branch has an equipped cash section.This section receives cash from depositors/Client and pays cash against cheques draft, payment order and pay to slip over the counter This section deals with all type as of negotiable instruments and in includes volt. Used as the store of cash instrument, the main functions of the sections are cash receipt and cash disbursement. Accounts Opening Section: This section deals with opening of different types of accounts. It is also deals with issuing of books and different deposit boos to the different accounts opener. A customer can open different types of accounts through this department such as: l. Current Account 2. Saving Account 3. Fixed deposit account (FDR) 4.Short term Deposit (STD) 5. Monthly saving Scheme (Money Gro ver) 6. Monthly income scheme (Steady money) 7. Smart saver Scheme 8. Multi plus saving Account 9. Super saving scheme 10. Education saving scheme EXIM Bank gives special importance various deposit schemes are: l. Monthly saving Scheme (money Grower) 2. Monthly income scheme (Steady Money) 3. Multi plus savings A/C 4 Super saving scheme 5. Double benefit Scheme 6. Smart saver Scheme 7. And Education saving Scheme Types of Accounts with Terms and Conditions Current (CD) Account: Current account is purely a demand deposit account. There is no restriction on withdrawing money from the account.It is basically justified when funds are to be collected and money is to be paid at frequent interval. Some Important Points are as follows- †¢ Minimum opening deposit of TK. 1000/- is required; †¢ There is no withdrawal limit. †¢ No interest is given upon the deposited money; †¢ Minimum Tk. 1000/= balance must always maintain all the time. Savings (SB) Account: The bank provid es savings account services for the ease of its clients. It offers both personal and corporate Savings Account to its clients in every branch. Hence, there is a restriction on withdrawals in a month. Heavy withdrawals are permitted only against prior notice. Some Important Points are as follows- Minimum opening deposit of Tk. 5000/= is required; †¢ Minimum Tk. 1000/= balance must always maintain all the time; †¢ Withdrawal amount should not be more than 1/4th of the total balance at a time and limit twice in a month. †¢ If withdrawal amount exceed 1/4th of the total balance at a time no interest is given upon the deposited money for that month. †¢ The current rate on deposit amount is 6%. †¢ Closing of saving accounts will cost 300tk to a customer. Short Term Deposit (STD) Account: Normally various big companies, organizations, Government Departments keep money in STD account. Frequent withdrawal is discouraged and requires prior notice.The deposit should be kept for at least seven days to get interest. The interest offered for STD is less than that of savings deposit. Interest is calculated based on daily minimum product and paid two times in a year. Interest rate is 4. 50%. Call Deposits (Money at Call): Sometime the banker secures funds from the money markets usually from other bankers against receipt to meet his purely tepmorary shortage of funds. These debts are repayable immediately at call. When the money market is tight such derosits attract higher rate of interst and then to be treated as banker’s borrowings as call loans. Account opening: To dill with the bank individuals need to have an account first.The particulars are essential for identification of the account holders individually so that the banker can discharge his obligations to every one correctly and to the extent due. Documents required for opening account ? Individual / Joint Account: 1. Introduction of the account. 2. Two photographs of the signatories duly attested by the introducer. 3. Identity (copy of passport). 4. Joint Declaration Form (For joint a/c only). 5. Employee’s Certificate (in case of service holder). ? Partnership account: 1. Introduction of the account. 2. Two photographs of the signatories duly attested by the introducer. 3. Partnership letter duly signed by all partners (Sign should be similar as stated in Partnership Deed). 4. Partnership Deed duly certified byNotary public. 5. Registration (If any). 6. Updated Trade license. ? Proprietorship account: 1. Introduction of the account. 2. Two photographs of the signatories duly attested by the introducer. 3. Valid copy of Trade License. 4. Rubber stamp. 5. TIN number certificate. 6. Identity (Copy of passport). 7. Permission letter from DC/ Magistrate (in case of newspaper) 8. ? Limited company: 1. Introduction of the account. 2. Two photographs of the signatories duly attested by the Introducer. 3. Valid copy of Trade License. 4. Board resolution of opening A /C duly certified by the Chairman/Managing Director. 5. Certificate of Incorporation. 6.Certificate of Commencement (In case of Public limited company). 7. Certified (joint stock) true copy of the Memorandum and Article of Association of the Company duly attested by Chairman or Managing Director. 8. List of directors along with designation & specimen signature. 9. Latest certified copy of Form – xii (to be certified by register of joint stock companies) (In case of Directorship change). 10. Rubber Stamp (Seal with designation of each person) 11. Certificate of registration (In case of Insurance Company – Obtained from department of Insurance from the Peoples Republic of BD). ? Club / societies account: 1. Introduction of the account. 2.Two photographs of the Signatories duly attested by the introducer. 3. Board Resolution for Opening A/C duly certified by President/ Secretary. 4. List of Existing Managing Committee. 5. Registration (if any). 6. Rubber Stamp. 7. Permiss ion letter from Bureau of N. G. O. (In case of N. G. O. A/C). Savings Scheme; †¢ Monthly Income Scheme †¢ Multiplus Savings †¢ Smart saver †¢ Super Saving Scheme †¢ Monthly Savings Scheme (Money Grower) †¢ Hajj Scheme Finance/Loans: †¢ Corporate Finance †¢ Industrial Finance †¢ Lease Finance †¢ Hire Purchase Finance †¢ Commercial Loans †¢ Project Finance †¢ Syndicate Loans †¢ Retail Loans †¢ Mortgage Loans †¢ Loan against Share and Securities †¢ Account Opening Procedures: Step 1 | | | |The account should be properly introduced by Any one of the following: | | |An existing Current Account holder of the Bank. | | |Officials of the Bank not below the rank of an Assistant officer. | | |A respectable person of the locality well known to the Manager/Sub-Manager of the Branch concerned. | |Step 2 | | | |Receiving filled up application in bank’s prescribed form mentioning what type of account is de sired to be | | |opened. |Step 3 | | | |The form is filled up by the applicant himself / herself | | |Two copies of passport size photographs from individual are taken, in case of firms photographs of all | | |partners are taken | | |Applicants must submit required documents | | |Application must sign specimen signature sheet and give mandate | | |Introducer’s signature and accounts number – verified by legal officer | |Step 4 | | | |Authorized Officer accepts the application | |Step 5 | | | |Minimum balance is deposited – only cash is accepted | |Step 6 | | | |Account is opened and a Cheque book and pay-in-slip book is given | Account Sections: Daily function: The routine daily tasks of the accounts department are as follows: 1. Recording the daily transactions in the cash book 2. Recording the daily transactions in general and subsidiary ledgers 3. Preparing the daily position of the branch comprising of deposit and cash 4.Preparing the daily statement o f affairs showing all the assists and liability of the branch as per ledger and subsidiary leader separately. 5. Making payment of all expenses of the Branch 6. Recording inters branch fund transfer and providing accounting treatment in this regard. 7. Checking whether all the vouchers are correctly passed to ensure the Conformity with the Activity Report; if otherwise making it correct by calling the respective official to rectify the voucher. 8. Recording of the vouchers in the Voucher Register 9. Packing of the correct vouchers according to the debit voucher and the credit voucher. Periodical Tasks: The routine periodical tasks performed by the department are as follows. 1. Preparing the monthly salary statements for the employees 2.Publishing the basic data of the branch 3. Preparing the weekly position for the branch this is sent to the Head Office to maintain Cast Reserve requirement 4. Preparing the monthly position for the branch, this is sent to the Head office to maintain statuary liquidity requirement. 5. Preparing the weekly position for the branch comprising of the break up of sector wise deposit, credit etc. 6. Preparing the weekly position for the branch comprising of the denomination wise statement of cash in tills. 7. Preparing the budget for the branch by fixing the target regarding profit and deposit so as to take necessary steps to general and mobilize deposit 8.Preparing an Extract' which is a summary of all the transactions of the Head Office account with the branch to reconcile all the transaction held among the accounts of all the branches. General Account: General account is important one, which has to be maintained by each branch. Indeed general account is are record of Oregonian and responding transactions among inter- branches of the same bank. All types of assets and liabilities of one branch with another one are settled through this account. Branch can know how much the bank is liable with Head Office. The debit and credit balance shows assets and liabilities of the respective branch. Statement or Affairs:Accounts section prepares the statement of affairs for finding the profit/ loss as well as amount of assets and liabilities of concerned branch per day Theoretically, it is called financial statement and has tow parts: 1. Income and Expenditure Account 2. Statement of Assets and Liabilities Amortization and Depreciation: Amortization is the allocation of the cost of an intangible asset to expense for example, prepaid expenditure, prepaid insurance and good will etc Amortization schedule is determined by the decision of management. Establishment: This section deals with employee's salary, much type of internal expenses such as purchase of pen, paper equipment, machinery and payment of labor Cost and employee conveyance. In cause of leave of absence employee collects prescribed from this section. LOANS AND ADVANCES DEPARTMENT Introduction:Banking is essentially a business dealing organization with money and c redit like all other business activates. Banks are profit-oriented organization. A bank invites its find many ways to earn more and more profit and most of its income is derived from loans and advances. Bank makes loans and advances to traders, Businesspersons, industrialists and many other persons against security of some cautions policy and sound lending principle in the matter of lending. EXIM Bank is a lending bank in loans and advances and it grant loans in various sectors especially in industry, trade and commerce. Types of loans and advances: There may be different types of loans and advance given from the commercial banks such as EXIM Bank Ltd. Of our country.Loans and advances may be in the following types: 1. Cash credit 2. Overdraft 3. House Building loan (General and Staff) 4. Transportation (Car) loan (only for senior staff) 5. Consumer credit Scheme 6. Loan against Imported Merchandise (LIM) 7. Loan Bills purchases Documentary (LBPD) 8. Loan against Other Securities (L AOS) 9. Term Loan Brief Idea about the different types of loans and advance: Cash Credit (CC): Cash credit is an arrangement by which the customer is allowed to borrow May up to a creation limit. This permanent arrangement and the customers need not to draw the sanctioned amount of money at a time. The borrower can draw the money when required.The borrower can put back any surplus, amount, which he/she may he affect frequently. Intersect is charged only to the amount with drawn and not he whore amount sanctioned cash credit arrangement is usually divide into two ways such as: 1. Cash credit pledge 2. Cash credit hypothecation Cash Credit Pledge: In case of cash credit pledge possession of the goods dealings to bank and ownership of the of the goods belongs to borrower and bank the possessions of the goods as primary security. The goods storied in go down under lock and key by direct supervision of the bank. If the borrower wants to sell any potion of the pledged goods he/she permiss ion of bank with returning the value of the loan amount.It is therefore regarded as the most secured type of advance. Cash Credit hypothecation: In case of cash Credit hypothecation possession of the goods not transferred to the bank and therefore such and advance is no better than a clean loan, such an advance can thus only be granted to a person in whose integrity the barked has full confidence cash credit in the form of Hypothecation is normally accompanied with mortgagee of immovable properties. The pray/ borrower possesses the lock and key of the down. The Formalities of opening cash Credit: There intending cash credit holder should submit the following documents and being fill up properly: 1. Stock repot, rend receipt 2. Trade license 3.Up to date income tax clearings certificate 4. Charge documents 5. Letter of Continuity 6. Letter of arrangement 7. DP (Demand Promissory) note 8. Letter of guarantee 9. Letter lien 10. Limit sanction advice 11. Non-Encumbrance Certificate Obse rving the documents the bank authority prepares a cc proposal from that contains the following information: 1. Nature of business 2. Banking with EXIM 3. Transition with CD account by the client 4. Allied deposit with SB/STD account. 5. Number of adjustment (s) how many times the CC holder made his/her Account nil that means debit balance equal to credit balance. 6. Recycling it is ration of total credit summation to the limit.If the ratio is Higher it is better from banker's points of view. 7. Turn over in the account 8. By the encasement authority the bank holds the power to encase the FDR the encasement authority at any time in case borrower's failure to repay the loan amount with interest in due time. Based in the above-mentioned information the dealing officer of the loans and advances department prepares recommendation about the prospect of granting the CC loan to the client. Overdraft: Overdraft is an arrangement between the banker and the customer by which the letter is allo wed to withdraw over his/her credit balance in the current account up to an agreed limit.The borrower is permitted for draw and repays any number of times, provided he total amount overdrawn dose not exceeds the agreed limit. Here the interest is charged only for the amount withdrawn over the limit. Not for the whole amount. Overdraft is divided into tow categories:  ¦ Secured overdraft (SOD)  ¦ Temporary overdraft (TOD) Secured overdraft: It is allowed against the full security (i. e. FDR, ICB unit Certificates). Temporary Overdraft: It is allowed to the customer for a very short period of time. But EXIM bank deals only secured overdraft. Car Loans: This is a special type of loan, which is only provided for the staff of EXIM Bank.Usually AVP and above level officers get this kind facility. This loan is reimbursed on instrument basis and repayable after each month. House Building loan (General and Staff): General house building loan is providing into two sectors:  ¦ Generally  ¦ Staff Naturally house building loan is paid for the construction of commercial building, and owners etc, procedures for sanctioning house- building loan as follows:-  ¦ Application for sectioning loan  ¦ Application properly filled up for credit facilities supplied by the bank.  ¦ Personal net worth statement each director  ¦ Enquiry form Required papers for sanctioning HB loan:  ¦ Copy of general power of attorney  ¦ Copy of material certificate Copy of engineer's estimate  ¦ Copy of projected cash flow Loan (General): In case of loan the banks sanction some of money for a certain period of time. The enter amount is one time disbursement and paid in cash or credit loan A/C. The interest is charged on full sanctioned amount @16%. The bank generally sanctions loan to establish industry. These types of loan are granted for capital expenditure such as purchase of land, constriction of factory building, purchase of new machinery and modernization of plant. The borrowe r cannot withdraw this type of loan once repaid in full or in part again. Formalities for extending project loan: Loan application form:After receiving the loan application from the borrower the branch scrutinizes the application whether it is viable or not. Loan application from contains the following particulars amongst other detail below:  ¦ Particular description of the Project.  ¦ Nature of the Project  ¦ Detail information about the borrower  ¦ Statements of assets and liabilities of the borrower with declaration  ¦ Detail information about proposed products, machinates and manpower etc  ¦ Project cost and source of fund.  ¦ Market for the proposed project. Feasibility report: This report is provided by the borrower, which includes the following aspects of the project:  ¦ Marketing aspect  ¦ Technical aspect financial aspect  ¦ Managing aspect  ¦ Socio-economic aspect 1) Classification Procedure 1.Categories of Loans- At first all loans and advances will be grouped into four categories for the purpose of classification, such as- (a) Continuous Loans (b) Demand Loans (c) Fixed Term Loans and (d) Short Term and Agriculture & Micro Credit. (a) Continuous Loans : The loan A/C in which transaction may be made within a certain limit and have an expiry date for full adjustment will be treated as continuous loan. Exp CC, OD etc. (b) Demand Loans: The loan that becomes repayable by the party on demand by his bank will be treated as demand loans. If any contingent or any other liabilities are turned into forced loan will also be treated as demand loan. Exp. LIM, PAD, FBP, IBP etc. (c) Fixed Term Loans: The loan which is repayable with in the specific time period under a pacific repayment schedule will be treated as Fixed Term Loans. d) Short Term Agriculture & Micro Credit: Short Term Agricultural Credit will be as per list issued by Agricultural Credit and Specialized Programmers Department (ACSPD) of Bangladesh Bank under the Agricultural C redit Programmed. Credit in the Agricultural sector repayable within 1(one) year will also be included herein. Short Term Micro Credit includes any micro credit not exceeding TK. 25,000. 00 and repayable within 12 months. 2) Basis for Loan Classification: (A) Objective Criteria (1) Past due/ over due: In this point we saw four factors those are; a) Any continuous loan if not repaid / renewed within the fixed expiry date for repayment be treated as past due/ overdue from the following day of the expiry date. ny demands loan if not repaid/ rescheduled within the fixed expiry date will be treated as past due/ overdue from the following day of the expiry date. b) In case any installment of a fixed term loan (repayable within fives) is not repaid within the fixed expiry date, the amount of unpaid installment will be treated as past due/ overdue (defaulted instilment) from the following day of the expiry date of the particular installment. c) Incase of any installment or part installment of a Fixed Term Loan (repayable over five years) is not repaid within the fixed expiry date, the amount of unpaid installment will be treated as past due/ overdue after 6(six) months of the expiry date of that particular installment. ) The Short Term Agriculture & Micro Credit if not repaid within the fixed expiry date for repayment will be considered as past due/ over due (defaulted instilment) after 6(six) month of the expiry date. (B) Qualitative Judgment; If any uncertainty or doubt arises in respect of recovery of any continuous, Demand or Term Loans the same will have to be classified as Sub- Standard or Doubtful or Bad/ Loss. Considering the merit of the A/C on the basis of qualitative judgment be it classified or not on the basis of objective criteria. The Bank will classify on the basis of qualitative judgment and can be- classify loans if qualitative improvement does occur.But if a loan classified by Bangladesh Bank inspection Team, the same can be de- classified with the approval of the Board of Directors of the Banks. CIB Report: Before making credit report to the head office the lending branch takes the credit information to the borrower from the CIB (credit Information Bureau) of Bangladesh Bank and other financial institutions. For obtaining this report the branch sends Inquiry form' to CIB duly filled in particulars of the borrower. The report id divided into 5 segments. Project appraisal: It is the reinvestment analysis done by Banker before a project is approved. Project appraisal in the Banking sector is needed for following reasons:  ¦To ensue repayment of the Bank finance To achieve the organizational goals  ¦To establish industrialists in a country. The main tasks of the project appraisal is to justify the soundness of an investment by the Banker by means of a capital and systematic of the different elements of the Project For this purpose Banks use two types of analysis:  ¦Lending Risk Analysis (LRA)  ¦Spread Sheet Analysis (SSA) Lending risk analysis: Lending risk analysis is modern methodologies, which describes how to access the risks that are inherent any credit extension and how to access the likelihood that the customer will repay a loan. The LRA form contains 16 pages to analysis different categories of Risks.The Financial Sector Reform project introduces the lending Risk analysis format in 1993. LRA is a standardize format for analyzing the credit worthiness of a borrower and the likelihood that the borrow will repay. Bangladesh bank issued a letter number BCD (p) 611/13/290 dated 17-07-1994, which now makes it mandatory for the commercial Banks to implement the LRA approach to credit analysis prior to extending credit facilities to a Borrower. The modern concept of lending is purpose and production oriented and not security oriented. The emphasis should be given not any security rather on he likelihood of repayment, the credit worthiness of the customer soundness and viability of the business etc. Lending PrinciplesThe Principle of lending is a collection of certain accepted time tested standards, which ensure the proper use of Investment fund in a profitable way and its timely recovery. Different authors describe different principles for sound lending. 1. Safety 2. Security 3. Liquidity 4. Adequate yield 5. Diversity Process of Investment |Heads |Characteristics | |Application |Applicant applies for the Investment in the prescribed form of the bank describing the types | | |and purpose of Investment. |Sanction |Collecting credit information about the applicant to determine the credit worthiness of the | | |borrower. Sources of information | | |Personal Investigation, Confidential Report from other bank, Head Office/Branch/Chamber of | | |Commerce. | | |CIB (Central Information Bureau) report from Central Bank. | | |Evaluation of compliance with its lending policy. | | |Evaluating the proposed security. | | |LRA is must for the Investment exceeding one crore – as ord ered by Bangladesh Bank. | |If everything is in accordance the Investment is sanctioned | |Documentation |Then bank prepare a Investment proposal which contains terms and conditions of Investment for | | |approval of H. O. or Manager. | | |Takes the necessary papers and signatures from borrower | |Disbursement |An Investment Account is opened. Where customer | | |A/C—————————————————————————————Dr. | | |Respective Investment A/C —————————————-Cr. |FOREIGN EXCHANGE DEPARTMENT Introduction: One of the largest businesses carried out by the commercial bank is foreign trading. The trade among various countries fills for close link between the parties dealing in trade. The situation calls for experti se in the field of foreign exchange operations. The bank, which provides such operations refereed to as rending international Banking operation. Mainly trisections with overseas countries are respects of import, export and foreign remittance come under the preview of foreign exchange transaction, and international trade demands a flow of goods from seller to buyer of payment from buyer to seller.In this case the Bank plays a vital role to bridge between the buyer and seller. Foreign Exchange Mechanism in Flow Chart: Sales/Purchase contract Issues L/C Forward Forward documents Makes payment Makes payment Foreign Exchange department of EXIM Bank is department of all departments. This department handles various types of activates by three separate sections: 1. Import Section 2. Export section 3. Foreign Remittance. Import Section: The functions are of the section is mainly to deal with various components such as  ¦ Letter of Credit (L/C)  ¦ Payment against Document (PAD)  ¦ Payme nt against Trust Receipt (PTR)  ¦ Loan against Imported Merchandise (LIM) Letter of Credit (L/C): Definition:A letter of credit can be defined as an arrangement where in a Bank Guarantee on behalf of these customers to make payments to the beneficiary upon presentation of documents specified in the credit. Parties involved in L/C: Opener/ Buyer/Importer: The person who opens the L/C is known as opener/ buyer/importer of the L/C. The buyer and the seller conclude a sales contract providing for payment by documentary credit. 0pening Bank: The Bank issuing the L/C in favor of exporter is known as opening Bank. The opening bank opens L/C on request of importer according to application of the importer. Advising Bank: The Bank through L/C is advised their agent (correspondent Bank) abroad.The duty of the advising Bank is to authenticate the message so that is to the seller can act on it without any fear of forgery etc. Beneficiary: Seller and exporter in whose favor the L/C are opened. The beneficiary is normally the seller of good who receive payment under documentary credit. If has compiled with terms and conditions thereof. Negotiating Bank: The Bank that is authorized to handle (purchase) the documents under the L/C in the exporting country is known as negotiating Bank. L/C will stipulate either a notified bank to negotiate (restricted L/C) or any bank can negotiate in the seller’s country (unrestricted L/C). Reimbursing Bank: The Bank that is (by the L/C issuing Bank) to effect reimbursement is known as reimbursing bank.Reimbursing Bank authorized to honor the reimbursement claims in settlement of negotiation/ accepting/ payments lodged with its by the paying/ negotiating/ accepting Bank. Confirming Bank: A Confirming Bank is one which adds the guarantee to the credit opened by another bank. Therese undertaking the responsibility of payment/ negotiating/ acceptance under the credit in addition to that of the issuing Bank. A confirming Bank normally doe s so it requested by the issuing Bank. Types of L/C: – Revocable/ irrevocable L/C – Confirmed/ unconfirmed L/C. – Transferable L/C – Back to back L/C – Acceptance L/C – Revolving L/C – Red clause L/C – Green close L/C The EXIM Bank basically deals with irrevocable L/c. which can not be amended or cancelled by the issuing Bank at any moment and without prior to the beneficiary.It also deals back to back L/C, which is the letter of credit, provided by the exporter to the import the raw materials from abroad in order to produce the exportable commodity for the importer. Procedures for opening L/C: Application for opening L/C: An importer who is desirous to import goods from foreign country will apply Issuing Bank for opening a L/C. The importer will provide an application mentioning the following aspects: 0 Full particulars of applications Bank account. 0 Types of business 0 Historical background 0 Amount of required L/C limit 0 A mount of L/C margin. 0 Term of payment 0 Name of imported goods 0 Repayment schedule and source of fund Document schedule and source of fund.An importer or L/C opener has to submit the following documents 0 Application from (provided by the Bank) 0 Import registration certificate 0 Pro-forma invoice 0 Four sets of IMP from 0 Insurance cover not 0 VAT registration number 0 Tex registration number 0 Letter of credit authorization form Examination for opening L/C: Application must be carefully checked by the concerned officer considering the facts mentioning below: ? The terms and conditions of L/C applications are consistent with exchange control and import trade resolution UCPDC 500. ?Illegibility of imported goods ?The L/C must be opened in favor of importer ?That is signed by the importer and agreed with the terms and conditions. Indenting registration number ?Goods are not of Israel and vassals to be used are not of Israel ? Insurance cover note with date of shipment. ?Whether RC is up to date or not ?Whether IMP form is duly filled up and singed ?The imported goods are marketable After scrutinizing all thee legal aspects necessary entry is given to the margin register and charge, commission and margin in realized. Transmitting the L/C: The L/C is transmitted to the advising Bank for advising the L/C to he beneficiary. L/C is generally transmitted through tested Telex of Fax. Before transmission of final examination of the L/C contents is