Internship Report on Foreign Exchange Operations of Mercantile Bank.

Abstract

This internship report focuses on the operational culture and performance of Foreign Exchange Department of the Mercantile Bank PLC as my experience as an intern at the bank was over a three-month period. It shows the major activities that took place in operations, organizational knowledge, and my personal growth throughout the period. The opening chapter gives an outline of the objectives of the internship and the importance of the foreign exchange operations in the financial sector of Bangladesh, and how it has been characterized by the ease of international trade and remittances. The organizational overview gives the history of Mercantile Bank, its structure and services including foreign exchange functions of the bank. The following chapters explain my duties, such as processing trade documents, LC (Letter of credit) management, monitoring remittance and adhering to the Bangladesh bank regulations. The report shows how I have used the academic knowledge in real world banking to complement my knowledge in trade finance and foreign currency operations. The analysis part analyses the department strengths and challenges, and the recommendations to improve them are seen by automating the processes, improving customer services, and training the staff continuously. The conclusion provides the importance of foreign exchange operations in sustaining the economy of Bangladesh and gives recommendations on how to operate efficiently. In general, this report not only includes the evaluation of the work of the Foreign Exchange Department, but also a recollection about the skills and knowledge I acquired, which will be useful in my future banking and finance career.