Foreign Exchange & Remittance Activities of Al-Arafah Islami Bank Limited

Abstract

Banking sector of Bangladesh is one of the major sectors, which contributes significantly to the national economy. The sector comprises a number of banks in various categories. Al-Arafah Islami Bank Limited is scheduled commercial bank registered by the Bangladesh Bank. AIBL started its journey in 1995 with the said principles in mind and to introduce a modern banking system based on Al-Qur’an and Sunnah. The functions of the bank cover a wide range of banking and functional activities to individuals, firms, corporate bodies and other multinational agencies. In this report, I tried to analyze Foreign exchange & remittance Statement Analysis of Al-Arafah Islami Bank. In the first part of the report, I discussed about the background of the report as it is the introductory part. In this part, I discussed about the objective of my report, its importance and methods used to prepare it. In the second part of the report, I gave a brief introduction of AIBL. I discussed about the organization overview, mission and vision of the organization and objectives and performance of the bank at a glance etc. In the third chapter, I tried to give a theoretical aspect of foreign exchange department activities of AIBL. The fourth part I discuss all about rules & regulations of foreign exchange department, how to open lc, to gather fund. The fifth part consists of the findings that I observed in AIBL, Uttara Branch, during the period, my recommendations to the branch based on the drawbacks and a brief conclusion on the overall report. I performed this part on the basis of Foreign Remittance Analysis.