Abstract:
Generally, the bank is known as a banking institution that deals with money. A country’s economy depends on commercial banks. IBBL plays an important role in the economy of a country. Deposit of the individual savings account, business in checking all of them are done by a commercial bank. Therefore, Commercial banks are called “profit-making institution”. Government and people are very much dependent on Commercial banks. Generally, banks earn their profit by two ways. The first one is done by collecting a deposit at a lower cost and another way is to provide a loan at a higher rate.
The banking sector is expanding its hand in various ways every day. Day by day, it is becoming faster, stronger, and easier. They are inventing different types of ideas and products. The bank is a financial institution that can collect funds from the surplus units and invest in deficit units. The bank’s main source of income is a loan in various sectors and the bank provides loans against higher interest. To overcome our country’s economic obstacles, It needs to give more focus on loan and advanced facilities of Credit department which is very necessary in this globalized world. Banking sectors play an important role in the economy and improve economic development. First Security Islamic bank (IBBL) is one of them.
IBBL always strongly ignores interest. They always believe in profit and loss sharing. IBBL always maintains Islamic rules and regulations but also deals with modern technology. Knowledge and practical experience in a report. My internship report has been done based on “An Evaluation of Remittance Activities of Islami bank.” The two months internship period has given me the opportunity to gain practical knowledge about banking sectors; the fixed deposit is a common term in the banking sector that is repayable after a defined time set by the customer expires. The timeframe ranges from one month to 12 months. Such investments are not refundable on request but may be withdrawn according to a specified period. This bank must hold a cash balance in the case of a fixed deposit account. Thus, in Fixed Deposit Accounts, IBBL has a high benefit rate.
Fixed Deposit Accounts, IBBL has a high benefit rate.
