Chapter - 1

"INTRODUCTION”

1
1.1 BACKGROUND OF THE REPORT
Bank is an important financial organization to build the economy of a certain country.
Globalization or free market economy is now the world major challenge. Banks are key
financial institution that they play a vital role in the country’s economy and core of the
payment system. As a student of Bachelor of Business Administration (BBA) everyone has to
conduct a practical orientation in any organization for fulfilling the requirement of the 3
month internship program. The main purpose is to expose the student to real world situation.
As a part of the internship program of BBA course requirement , I assigned the to do may
internship in Bank Asia Limited, Sylhet Main Branch,60 Niloy Dargah Gate, Airport Road,
Sylhet for the period of 3 month starting August 10 to November 10, 2017. This report has
been prepared in the light of practical as well as theoretical knowledge on the topic,
"General Banking Activities of Bank Asia Ltd."-Sylhet Branch.

1.2 SIGNIFICANCE OF THE REPORT

In the competitive global era, classroom education only serves to boost a graduate into a
profession by conferring a degree but internship program makes the theories and learned
examples concrete by placing the student in a real life work situation performing actual
professional tasks, which the job encompasses. For this internship report has made
compulsory for all Business graduates of Metropolitan University. As a part of the BBA
program, all the students of this university have to experience an internship program with a
purpose of gaining practical understanding about modern business world. The program
covers a period of three months of organizational attachment. After the completion of
internship program, each student has to submit an internship report mentioning the activities
performed and learned during the internship period.

1.3 OBJECTIVES OF THE STUDY

The core objective of this study is to gain realistic and practical understanding about banking
structure and activities. The broad objective and specific objectives of the study are given
below:

1.3.1 Broad objective:

The broad objective of this study is to be familiar with the working environment of present
institutions, know the internal culture of the corporate world and fulfill the requirements of

2
BBA theoretical knowledge gained from the course work of the BBA program in a specific

field.

1.3.2 Specific objectives:

To understand and analyze the overall activities of Bank Asia Limited.
To evaluate the existing activities and techniques of Bank Asia Limited.
To study the operational efficiency of Bank Asia Limited.
To suggest the way and means for improvement on policy and techniques.
To relate the theoretical learning with the real life situation.
To gain knowledge about the activities and functions of General Banking: account
opening, accounts section, cash handling
1.4 SCOPES OF THE STUDY

Worldwide economic situation continued to pose adverse impact on most developing

countries including Bangladesh challenging the possibility of registering a positive growth.
Banking system holds a significant position in a nation’s economy. It plays a crucial role in
the economic advancement of a country and shapes the central part of fiscal market in a
highly developed country. Bank Asia Limited is doing a formidable job. So far researchers
have a very specific scope to overview the whole system. The banking sector continued to
make remarkable profit in the 2002.

The report covers the background, functions and mostly the General Banking part of Bank
Asia Limited. The preparation of this report offers a great opportunity to have an in-depth
knowledge of banking activities practiced by the branch. This report has been made based on
the experience gathered during the period of 3 months’ internship. It was a huge opportunity
for me to practically learn and execute the entire process of General Banking activities.

1.5 METHODOLOGY
This part of the report contains which data sources I have used to gather all the related
information about Bank Asia Limited and their activities. There are two types of data sources

1.5.1 Primary data:


Discussion with the officials of Bank Asia Limited.

Informal interview and individual conversation with employees.

3
 
Face to face conversation with the clients.

Direct involvement in the General banking activities of the bank.

Personal observation on the procedure of banking activities.
1.5.2 Secondary data:

Annual report of Bank Asia Limited [2013, 2014, 2015,2016]

Brochures, Manual and publications of Bank Asia.

Online data from the website of Bank Asia Limited.
 Relevant Journals and research papers

1.6 LIMITATIONS OF THE STUDY

It was a nice experience for me as an intern at Bank Asia Limited. The entire employees from
top to bottom level were very helpful. But I have faced some limitations for preparing this
report. These are as follows:

 As an intern it was difficult for me to collect information about the bank`s internal
policies.
 It was very difficult to collect information from various personal for their jobs
constraint.
 Employees are so much busy with their regular activities. So they cannot provide
enough time for discussion.
 Lack of availability of information and data, as in many cases updated data were not
available.
 Some of the officers were less interested to respond to my questionnaire.


4


Chapter-2
"OVERVIEW OF BANKING INDUSTRY"

5
2.1 INTRODUCTION

Banks are among the most important financial institution in the economy. Banks are the
financial intermediaries that collect money from surplus spending individual and institutions
(whose current income exceeds their current expenditure and they have surplus funds to save
and invest) and loan this fund to the deficit spending individuals and institutions (whose
expenditure on consumption and investment exceeds their current income and who therefore
need to raise fund externally through borrowing).

Banking has changed in many ways through the years. Banks today offer a wider range of
products and services than ever before, and deliver them faster and more efficiently. But
bank’s prime function remains as it has always been. In Bangladesh banks are the first choice
for saving, borrowing, and investing their money.

2.2 DEFINITION OF BANK

A bank is a financial institution that accepts deposits from the public and creates credit.
Lending activities can be performed either directly or indirectly through capital markets.
Bank can be called as an establishment authorized by a government to accept deposits, pay
interest, clear checks, make loan, act as intermediary in financial transactions and provide
other financial services to its customer.

Bank is a financial institution that accepts the surplus money of the people in the form of
deposit and gives it to other form of loans and advances.

According to professor Chamber, “Bank is an office or institution for keeping, lending and
exchanging etc of money.”

According to John Harry, “Bank is an economic institution whose main aim is earn profit
through exchange of money and credit instrument.”

From the above definition we can say that, Bank is an institution which deals with the money.
It receives surplus fund from individuals or any organizations and gives money to individuals
or organizations that needed in exchange of profit or interest. So bank is an intermediary
between the surplus units of the society who save and the deficit units of the society who
borrow.

6
2.3 FEATURES OF A BANK

Bank is a financial institution which deals with other people’s money i.e. money given by
depositors.

 A bank accepts money from the people in the form of deposits which are usually
repayable on demand or after the expiry of a fixed period.
 A bank provides easy payment and withdrawal facility to its customers in the form of
cheques and drafts.
 A bank works as an agent for its customer and provides utility services.
 Banks make loans to consumers, businesses and organizations. Loans represent funds
that are extended by the Bank to the creditor who agrees to pay the funds back, with
interest, over a specified time period.
 Banks are operated with the objective of making a profit. Their fee structure and
interest rate is designed with the intention of making money for owners and
shareholders.
 A bank acts as a connecting link between borrowers and lenders of money. Bank

collects money from those who have surplus money and give to those who are in need

of money.

2.4 BANKING

Banking is an activity which involves acceptance of deposits for the purpose of lending or
investing. Banking also involves providing various other services along with its main banking
activity.

According to the oxford dictionary of Finance and Banking, “Banking is the activities
undertaken by bank.”

So we can say that, Banking is the summation of all activities of bank.

2.5 HISTORY OF BANKING

The English Word “Bank” is derived from Italian word “Banco” which means Bench. The
Latin “bancus” and French word “banque” which means a bench. There are the opinions that
the medieval European bankers (i.e. money changers and money lenders) transacted their
banking activities on the benches in the market place. This money changing and money

7
lending business is known as the “Banking Business.” The history of Banking is very old;
actually, the need of keeping the surplus of earning safely created the need of banking
activities. So, the concept of Banking first established around 2000 BC in Assyria and
Babylonia. This concept spread to the Dutch Republic in the 16th century and in the 17th
century in London. Various monarchs have established the necessity of banking in different
ways. Banking concept was well established in the whole Europe by the time of Adam Smith.
He came along with the “Invisible Hand” theory. Empowered by his views of a self-regulated
company, money lenders and bankers managed to limit the states’ involvement in the banking
sector and the economy as a whole. This free market capitalism and competitive banking
found fertile ground in the new world, where the United States of America was getting ready
to emerge. At first the US Banking system was not benefited by the smith’s theory. They only
issued bank notes against gold and silver coins. Alexander Hamilton, the secretary of treasury
established the national bank to direct the issuance of bank notes and maintain the reserve of
the bank notes. Gradually, many banking activities like loans, corporate finance transferred at
the hand of merchant banks. After the World War I, U.S. replaced the Europe as the center of
financial world. World War II created the opportunity to spread the banking activities through
the whole world. Banks have come a long way from the ancient world, but the basic business
practices have not changed. Now, at the present world, banking activities have come in our
own hand through the blessings of internet and online activities.

2.6 BANKING IN BANGLADESH

After the liberation war, and the eventual independence of Bangladesh, the Government of
Bangladesh reorganized the Dhaka branch of the State Bank of Pakistan as the central Bank
of the country, and named it Bangladesh Bank. This reorganization was done pursuant to
Bangladesh Bank Order, 1972 and the Bangladesh Bank came into existence with
retrospective effect from 16 December 1971. In the 80s it was increasingly felt that a number
of PCBs might have improved their position putting nationalized banks into competition. The
launching of PCBs has finally created a significant impact in quality of services in banking.
Banking being a service industry, it is not easy to quantify the performance of this sector like
manufacturing.
After the independence, banking industry in Bangladesh started its journey with 6
nationalized commercialized Banks, 2 State owned specialized Banks and 3 Foreign Banks.

8
In the 1980s banking industry achieved significant expansion with the entrance of private
Banks. Now, Banks in Bangladesh are primarily of two types:

2.6.1 Scheduled Banks

The Banks which get license to operate under Bank Company Act, 1991 (Amended in 2003)
are termed as Scheduled Banks. Banks which are included in the list of central Banks are
termed as Schedule Banks.

There are 57 schedule Banks which include:

 State Owned Commercial Banks-06

 Specialized Banks-02
 Private Commercial Banks-40
 Conventional Banks-32
 Islamic Banks-8
 Foreign Commercial Banks.-9

2.6.2 Non-Scheduled Banks:

The banks which are established for special and definite objective and operate under the acts
that are enacted for meeting up those objectives, are termed as Non-Scheduled Banks. These
banks cannot perform all functions of scheduled Banks. There are 4 non schedule banks.

2.7 LIST OF BANKS IN BANGLADESH

1. Scheduled Bank (56)

A. Central Bank:
Bangladesh Bank

B. State Owned Commercial Bank:

 Sonali Bank  BASIC Bank Limited
 Rupali Bank  Bangladesh Development Bank
 Agrani Bank Limited.
 Janata Bank

9
C. Private Commercial Bank:
 BRAC Bank Limited
 Eastern Bank Limited
 Dutch Bangla Bank Limited
 Dhaka Bank Limited
 Pubali Bank Limited
 Uttara Bank Limited
 IFIC Bank Limited
 National Bank Limited
 The City Bank Limited
 United Commercial Bank
Limited
 NCC Bank Limited, Prime
Bank Limited
 South East Bank Limited
 Standard Bank Limited
 One Bank Limited
 Mercantile Bank Limited
D. Islamic Commercial Bank:
 Islami Bank Bangladesh
Limited
 ICB Islami Bank
 Shahjalal Islami Bank Limited
E. Foreign Commercial Bank:
 HSBC
 Standard Chartered Bank
 Commercial Bank of Ceylon
 State Bank of India
 Habib Bank
 Bangladesh Commerce Bank
Limited
 Mutual Trust Bank Limited
 The Premier Bank Limited
 Bank Asia Limited
 Trust Bank Limited
 Jamuna Bank Limited
 Meghna Bank Limited
 AB Bank Limited
 The Farmers Bank Limited
 NRB Bank Limited
 NRB Commercial Bank Limited
 NRB Global Bank Limited
 Midland Bank
 Modhumoti Bank Limited
 South Bangla Agricultural &
Commerce Bank Limited.
 First Security Islami Bank
Limited
 Exim Bank Limited
 Al-Arafah Islami Bank Limited
 Social Islami Bank Limited
 National Bank of Pakistan
 Woori Bank
 Bank Al-Falah
 Citi Bank NA.
10
 F. Specialized Bank:
 Rajshahi Krishi Unnayan Bank
 Bangladesh Krishi Bank.

2. Non-scheduled Banks (4):

 Ansar VDP Unnayan Bank  Probashi Kollyan Bank

 Karmashangosthan Bank  Jubilee Bank

11
 Chapter - 3
AN OVERVIEW OF BANK ASIA LTD.

12
3.1 HISTORICAL BACKGROUND OF BANK ASIA LTD.
Banking sector has a vital role to play in the economic activities and development of any
country. This sector is much more important in a developing country like Bangladesh.

Bank Asia has been launched by a group of successful entrepreneurs with recognized
standing in the society. The management of the Bank consists of a team led by senior bankers
with decades of experience in national and international markets. The senior management
team is ably supported by a group of professionals many of whom have exposure in the
international market.

It set milestone by acquiring the business operations of the Bank of Nova Scotia in Dhaka,
first in the banking history of Bangladesh. It again repeated the performance by acquiring the
Bangladesh operations of Muslim Commercial Bank Ltd. (MCB), a Pakistani bank.
In the year 2003 the Bank again came to the limelight with oversubscription of the Initial
Public Offering of the shares of the Bank, which was a record (55 times) in our capital
market's history and its shares commands respectable premium.

The asset and liability growth has been remarkable. Bank Asia has been actively participating
in the local money market as well as foreign currency market without exposing the Bank to
vulnerable positions. The Bank's investment in Treasury Bills and other securities went up
noticeably opening up opportunities for enhancing income in the context of a regime of
gradual interest rate decline.

Bank Asia Limited started its service with a vision to serve people with modern and
innovative banking products and services at affordable charge. Being parallel to the cutting
edge technology the Bank is offering online banking with added delivery channels like ATM,
Tele-banking, SMS and Net Banking. And as part of the bank's commitment to provide all
modern and value added banking service in keeping with the very best standard in a globalize
world.

Bank Asia Limited is moving forward with its line of products and services for each of its
customers segments – retail, SME and corporate clients. The Bank’s services, backed up by
real time online banking software, are capable of handling customized needs of the clients in
all these segments. Challenging and exciting times are ahead of the Banking industry. Bank
Asia is ready to take the advantage of the opportunities that are emerging as a result of the
booming global prosperity and of the domestic economy, increased awareness of banking

13
among the average citizen, and the underlying demographic trends. With the visionary Board
of Directors, competent management team, quality manpower, advanced IT infrastructure,
market oriented product lines, and the unwavering commitment of the valued customers, the
aim of the Bank is to surpass their own standards of performance both commercially and as a
good corporate entity. The Bank anticipates expanding the corporate banking business with
more focused approach. The Retail banking and SME banking are expected to help in
diversifying the Bank’s portfolio. The bank also has plans to expand the branch network to
reach more customers. Plans are underway to expand the Bank’s own proprietary and shared
ATM network; to incorporate additional modules into “STEALER”, to enhance the IT
infrastructure, and to provide additional facilities under other alternative delivery channels as
well. The Bank’s Credit Card business is expected to contribute to the bottom line as well as
provide added convenience to Bank Asia’s retail clients.

Bank Asia is a third generation public limited commercial bank. It received the Certificate of
Incorporation on September 28, 1999 and came to operation on November 27, 1999. Now
after 12 faithful years of dedicated and reliable services, Bank Asia has created an envious
position for itself among the leading banks of the country with an Asset base of TK. 117
billion, Deposit of TK 95 Billion and 70+ outlets all over the country. But most importantly,
the Bank has an unsurpassed legacy attached with its image

3.2 VISION OF BANK ASIA LTD.

 Bank Asia's vision is to have a poverty free Bangladesh in course of a generation in

the new millennium, reflecting the national dream.
 Our vision is to build a society where human dignity and human rights receive the
highest consideration along with reduction of poverty.

3.3 MISSION OF BANK ASIA LTD.

 To assist in bringing high quality service to our customers and to participate in the
growth and expansion of our national economy.
 To set high standards of integrity and bring total satisfaction to our clients,
shareholders and employees.
 To become the most sought after bank in the country, rendering technology driven
innovative services by our dedicated team of professionals.

14
3.4 OBJECTIVES OF BANK ASIA LTD.

 High customer satisfaction.

 Maintaining good relationship with customers and corporate clients.
 Giving importance to the smallest query of the customer.
 Providing better service and product to the customer.
 Serving the whole by establishing branches in every part of the country.
 Value addition to the stakeholders through attaining excellence in banking operations.
 Maintain high ethical standard and transparency in dealings.

3.5 PAY-OFF LINE/ SLOGAN

 For A Better Tomorrow.

3.6 CORE VALUES

 Place customer interest and satisfaction as first priority and provide customized
banking products and services
 Value addition to the stakeholders through attaining excellence in banking operations
 Maintain high ethical standard and transparency in dealings
 Be a compliant institution through adhering to all regulatory requirements
 Contribute significantly for the betterment of the society
 Ensure higher degree of motivation and dignified working environment for our human
capital and respect optimal work-life balance Committed to protect the environment
and go green.

3.7 CORPORATE INFORMATION

 Letter of intent received 24/02/1999

 First meeting of promoters 15/04/1999
 Certificate of incorporation received 28/09/1999
 Certificate of commencement of business 28/09/1999
 First meeting of board of directors held 01/10/1999
 Banking license received 06/10/1999
 First branch license received 31/10/1999
 Inauguration of bank 27/11/1999

15
  Date of publication of prospectus 29/06/2003
 Date of IPO subscription 23/09/2003, 24/09/2003
 Date of first share trading in bourse 08/01/2004
 Date of agreement with CDBL 20/12/2005
 Date of first scrip less trading 30/01/2006
 Number of promoters 22
 Number of directors 12
 Number of branches 119
 Number of SME centers 10
 Number of Islamic windows 05
 Number of Islamic ATM 98

3.8 COMPANY PROFILE


The name of the company is Bank Asia Limited. The head office of this bank is in Rangs
Tower (2nd to 6th Floor) 68,Purana Paltan Dhaka-1000. It established in November 27, 1999.
It involved in Banking Industry. Bank Asia Limited has 14,402 shareholders of which 25
Sponsors and Directors, 13,857 General Public, 2 Foreign Investors, 119 Investment
Companies, 277 Institution and 122 non-resident Bangladeshis. This Bank has 110 branches.
It has 657 foreign correspondents in 165 countries and 45 exchange House in 9 countries as
foreign remittance channeling partner. Bank Asia Limited has three subsidiary company
among three two in abroad which are ‘BA Exchange Company (UK) Limited’ in London,
United Kingdom established on May, 2011 and ‘BA Express USA Inc.’ in Jamaica, New
York, USA established on June 01, 2014 and 1 in Bangladesh ‘Bank Asia Securities Limited’
established on March 16, 2011. In 2016 their profit after tax was 2583.92 (in Millions). Their
slogan is “For a Better Tomorrow”. Their website address is http://www.bankasia-bd.com.

3.8 PRODUCTS & SERVICES

 Products:
 Current Deposit Account
 Savings Bank Account
 Short Notice Deposit Account
 School Banking Solution
i) Smart Junior Saver

16
 ii) School Banking Account
iii) School Fee Collection
 Payroll Banking for Teachers
 Term Deposits
 Remote Banking (EBEK)
 10 Tk. Account
 Services:
 Account Opening
 Deposit & Withdrawal from account
 Fund Transfer within bank and to any bank in Bangladesh
 Inward Foreign Remittance payment
 Utility Bill Payment
 Balance Inquiry
 Account Statement (mini)
 Passport Fee Collection
 SME Loan Processing
 Agricultural Loan Processing
 Repayment of Loan Installment
 Disbursement and Payment of Social Safety Net
 Salary Disbursement Solution
 Debit/NFC Card Service
 Cheque Book facility for Agent Banking customer
 Mobile Top Up
 Agent Banking Apps

17
3.9 HIERARCHY POSITION OF BANK ASIA LIMITED

President & Managing Director

Deputy Managing Director (DMD)

Senior Executive Vice President (SEVP)

Executive Vice President (EVP)

Senior Vice President (SVP)

Vice President (VP)

First Vice President (FVP)

Assistant Vice President (AVP)

First Assistant Vice President (FAVP)

Senior Executive Officer (SEO)

Executive Officer (EO)

Senior Officer (SO)

Management Trainee Officer(MTO)

Officer

Junior Officer (JO)

Assistant Officer(AO)

Banking Officer (BO)

Trainee Officer (TO)

18
 3.8 BOARD OF DIRECTORS

Mr. A. Rouf Chowdhury

Chairman

Mr. Mohd. Safwan Choudhury

Vice Chairman

Ms. Romana Rouf Chowdhury Mr. Mashiur Rahman Mr. M. Shahjahan Bhuiyan
Director Director Director

Mr. Md Nazrul Huda Mr. M Irfan Syed Ms. Hosneara Sinha

Director Director Director

Ms. Naheed Akhter Sinha Maj. Gen. Matiur Rahman (Rtd.) Mr. Dilwar H Chy .
Director Director Director

Md. Arfan Ali

President & Managing Director

19
3.9 DIVISIONS OF BANK ASIA LTD.

Operations, Credit & IT

The primary motivation behind the operation division is to keep up and guarantee free stream
the general organizational exercises.

HR & Company Secretary:

In the creating keeping cash field headway and specialization will be the best approach to
keeping up centered edge. A clear system to select the best capacity is viably settled through
the Human Resource Division. The human resource office goes on different get ready and
change programs all through in an effort towards determined progression of the HR
Interactions of the bank. Both inside and external coaches conduct in-house planning
programs and these tasks are tenaciously updated to reflect the latest progression in the
dealing with a record furthermore information advancement territory. Prior to the end of 2005
forms the work quality extended to 397 from 331 toward the end of the prior year.

Marketing
The Marketing Department is in charge of the coordination of all promoting exercises of the
Bank; guarantees promoting exercises are in consistence with state and government controls;
creates different advertising ideas, targets, materials, commercials, programs, public
statements, and other uncommon occasions endorsed by senior administration and the Top
managerial staff. The division gives direction and directions execution endeavors concerning
the establishment of new or existing items and administrations. The Office is likewise in
charge of being the essential contact of advertising and media contacts, publicizing, and
certain business advancement exercises that advance the soul, reasoning, commitment, and
general course of the Bank.

International Division
International Division creates and benefit far reaching individual budgetary connections
inside Global target market through an expert deals exertion and distinguish qualified
potential foreign customers. The office start contacts survey need; introduce a variety of
items and administrations, and close deals. This office is in charge of the administration and
aggregate overhauling of the global customer relationship, and for the development and
gainfulness of the biggest, most mind boggling and beneficial connections in the unit.

20
Credit

The Credit Division is in charge of social event and investigating credit data on present and
potential borrowers; decides the suitability of giving acknowledgment for broadened sorts of
advances Obligations additionally helping advance officers in composing advance
solicitations; advancing business for the Bank by keeping up great client relations and
alluding clients to fitting staff for new administrations.

Audit & Internal Control

The Audit and Inner Control Department is liable of creating, executing and imparting
Treasury Bank Review's vision, mission, objectives and systems. To guarantee that basic
business and administrative procedures are set up and working, this office creates and keeps
up a powerful association with business accomplice administration, helps business
accomplices adjust their business system with proper danger administration controls and
urges specialty unit administration to self-evaluate its business surroundings and create
activity arranges around "holes" that could affect sound danger administration or
accomplishment in meeting marketable strategies. The division additionally guarantees that
staff comprehends and is fittingly adjusted to the organization's targets/values, and stay side
by side to strategies utilized by Review and the specialty units they survey. Different
obligations in guaranteeing that satisfactory assets and preparing are given to staff, adequate
to guarantee full consistence with every single administrative necessity.

Financial Control Department

This division is in charge of the greater part of the Bank's financial working results, for
example, cost bookkeeping, spending plans, administrative office and government reports
guaranteeing the shield of Bank resources. The Money related Control Office likewise
advises senior administration on monetary control and benefit; gets ready, exhibits and
translates budgetary reports to senior administration; sticks to duty laws and administrative
consistence to appropriately mirror the budgetary position of the Bank.

21
Information & Communication Department

The Data and Correspondence Division is in charge of the Bank's electronic and money
administration based items and tasks, including the advancement, arrangement and upkeep of
Bank's Website; helps record and business improvement officers in the offers of related items
and administrations. The division likewise performs direct supervisory obligations of office
staff; organizes staff for scope in every single related range of the office; guarantees different
office exercises or activities run easily and effectively.

3.10 SYLHET DIVISION BRANCHES OF BANK ASIA LTD.

Branches Details

Rangs Tower(2nd to 6th Floor)

Tell : 02- 47110062, 47110247, 47113867, 47110278,
47110173, 47115813, 47110468,
Fax : 88-02-7175524,
Uposhahar Office E-mail : enquiry@bankasia-bd.com
Web : www.bankasia-bd.com, https://mybank.bankasia-
bd.com
Contact Center (24/7): 16205
E-mail : contact.center@bankasia-bd.com

Branch Code: 042

Address: Tazma Shopping City (1st Floor) Beani Bazar,
Beani Bazar Branch
Sylhet, Phone: 082-23-56103-4

Branch Code: 050

Address: Jagannathpur Branch 76 T&T Road, Ward-07,
Jagannathpur Branch
Jagannathpur Bazar, Sunamgonj

Branch Code: 058

Laldighirpar Branch Address: Laldighirpar Main Road Laldighirpar, Sylhet

Branch Code: 051

Address: Shah Mostafa Garden City, M. Saifur Rahman
Moulvi Bazar Branch
Road (Central Road) Moulavi Bazar

Branch Code: 153 Address: Rekabi Bazar Point, Rekabi

Rekabibazar SME Service
Bazar, Sylhet
Center
Branch Code: 010 Address: 60 Niloy, Dargah Gate, Sylhet
Sylhet Main Branch
Address: Rahim Tower Subhanighat Bishwa Road, Sylhet
Sylhet Uposhohor Branch

22
 Chapter - 4
"GENERAL BANKING ACTIVITIES OF
BANK ASIA LTD."

23
4.1 GENERAL BANKING
General Banking is the heart of all banking activities. It is the introductory department of the
bank to its customers. Since this is a banking organization, this organization earns profit
through selling services to its customers. This department assists in taking deposits and
simultaneously provides some necessary services. In, Bank Asia skilled people are allocated
for providing such services and for the purpose of deposit mobilization. The general banking
department of Bank Asia consists of following activities:


Account Opening and Lockers Services

Cash management and teller operations

Remittance Department

Clearing Section

Financial Control & Accounts Department (FCAD)

Figure 01: Activities of General Banking of Bank Asia Limited

24
4.2 ACCOUNT OPENNING

Account opening is the very important part of general banking. Bank Asia offers different
types of account to their customers: Current Deposits, Savings Bank Deposits, Fixed
Deposits, Short Term Deposits, Monthly Term Deposits, and Any other deposits as may be
approved / advised by Head Office.

General Instructions for account opening

 Firstly the clients need to collect the account opening form from their helpful branch
endorsed by Bank Asia Limited.
 Account opening officer will be outfitted with Transaction profile form, Customers
risk assessment form, Requisition for issuance of Cheque book, Money laundering
form and guideline for account opening
 The officer will talk to the customer in a decent manner regarding his opening a bank
account. The officer will check the clients by utilizing this technique. If the officer
will satisfy he gives the account opening form to his customer.
 Account opening officer will take Account holder information and nominee
information from the Account holder to fill up the KYC (know your customer) and TP
form.
 Officer will help the Account Holder to fill up and complete the account opening form
as far as possible.
 Account holder should give 2 passport size photographs and 1 passport size
photographs of his or her nominee and the photocopy from their Passport/National ID
card/Voter ID card/Union Perished Certificate.
 Card for ATM and SMS benefit properly marked.
 In instance of, Joint Account, operational directions should be confirmed with the
signature of applicants jointly.

25
4.3 PROCEDURES OF ACCOUNT OPEENING IN FLOW CHART

Figure 02: Procedures of account opening.

4.4 FEATURES AND DOCUMENTS REQUIRED FOR DIFFERENT ACCOUNTS

4.4.1 Savings Account

 Customer Benefit
 Cheque-book facility
 Opportunity to apply for - safe deposit locker facility
 Collect foreign remittance in both TC. & Taka draft
 Transfer of fund from one branch to another by
 Demand Draft
 Mail Transfer
 Telegraphic Transfer
 Transfer of fund on Standing Instruction Arrangement
 Collection of cheques through Clearing House
 Online Banking service
 SMS Banking
 Bank Asia ATM Card Service

26
 Documents Required
 Completed account opening form
 Passport size photograph for each account holder and nominee(s)
 Proof of identification such as national/Voter's ID, Passport or Driving License
 Tax Identification No (TIN)

4.4.2 Current Account

 Customer Benefit
 Cheque-book facility
 Opportunity to apply for - safe deposit locker facility
 Collect foreign remittance in both TC. & Taka draft
 Transfer of fund from one branch to another by

 Demand Draft
 Mail Transfer
 Telegraphic Transfer
 Transfer of fund on Standing Instruction Arrangement
 Collection of cheques through Clearing House
 Online Banking service
 SMS Banking
 Bank Asia ATM Card Service
 Documents Required
 Completed account opening form
 Passport size photograph for each account holder and nominee(s)
 Proof of identification such as national/Voter's ID, Passport or Driving License
 Tax Identification No (TIN)
 Trade License
 Proof of address – copy of utility bill

4.4.3 Short Term Deposit (STD) Account

This is opened and worked for fleeting and for particular reason. It is additionally an interest
bearing account and where rate of interest is for the most part underneath the reserve funds
rate. Regularly, intrigue is paid on day by day item premise. People, Firms, Organizations,
and Affiliations may open this account. Current Loan cost of Bank Asia for this store is 5%.

27
4.4.4 Fixed Deposit Receipt (FDR) Account

 Features
 A term deposit account, guarantees interest on deposit
 Attractive interstate rate
 Flexible tenor
 Up to 90% loan facilities

 Documents required
 Completed account opening form
 Passport size photograph for each account holder and nominee(s)
 Proof of identification such as national/Voter's ID, Passport or Driving License
 Tax Identification No (TIN)
4.4.5 Double Benefit Plus (DB+)
 Benefits
 Attractive and competitive interest rates
 Double the amount in just 9 years
 No hidden charges
 SOD loan facilities is available
 Other Issues:
 Deposit amount starts with Tk. 50,000 or its multiple
 Maximum deposit amount under single name is Tk. 4,000,000
 Maximum deposit amount under joint name is Tk. 6,000,000
 Terms & Conditions:
 Only individuals can open this account
 In case of premature encashment, simple interest rate at existing savings deposit
will apply
4.4.6 Monthly Benefit Plus (MB+)
 Benefits:
 Attractive and competitive interest rates
 Monthly return up to 700 Taka for every one Lac Taka Deposit
 No hidden charges
 SOD loan facilities can be availed

28
 Rest of the terms & conditions unchanged

 Other Issues:
 Deposit tenure: 3 and 5 years
 Deposit amount starts with Tk. 1000,000 or its multiple
 Maximum deposit amount under single name Tk. 4,000,000
 Maximum deposit amount under joint name is Tk. 6,000,000
 Terms & Conditions:
 Only individuals can open this account
 Customer must maintain link account with Bank Asia
 No interest before one year
4.5 INTEREST RATES ON DIFFERENT ACCOUNTS
Following are the interest rates of deposit products for Bank Asia customers

Type Interest Rate

Savings Account

Avg. Balance below Tk. 1 Lac 3.50%

Avg. Balance Tk. 1 Lac & above but below Tk. 1.00 Crore 3.50%

Avg. Balance Tk. 1.00 Crore and above 4.00%

Special Notice Deposit (SND)

Avg. balance below Tk. 1 crore 2.50%

Avg. balance Tk. 1 crore but below Tk. 25 crore 4.00%

Avg. balance Tk. 25 crore but below Tk. 50 crore 6.00%

Avg. balance Tk. 50 crore but below Tk. 100 crore 6.00%

Avg. balance Tk. 100 crore and above 6.00%

For IPO Fund 3.00%

29
 Fixed Deposit Receipt (FDR)

Flat Rate of 6% on any amount 6.00%

4.6 ISSUANCE OF CHEQUE BOOK

A. At the first of opening an account, the first cheque book should be issued to an account
holder on the basis of first requisition slip signed by him, obtaining approval from the
HOB/ MOB as applicable. The cheque books are to be obtained from the central clearing
department of the office as per the system of MICR cheque book issue.
B. All subsequent cheque books should be issued against cheque book Requisition slips from
the cheque book previously issued. It is noted that no cheque issuance over Telephone or
Fax will be accepted.
C. Before issuing the new cheque book, the Branch should consider the following:
 Letter of thanks is received by the customer & returned acknowledgement
copy to Branch in case of new account opened.
 A satisfactory average balance is maintained.
 The account is not inoperative.
 Cheque book issued earlier have been fully utilized.
 Cheques are not frequently returned for want of funds.
 Payments of cheques are not frequently stopped.
D. A fresh cheque book should be issued to the account holder once the HOB/
Authorized officer is satisfied about the conduct of the account and has verified the
signature of the account holder.

E. If a cheque book is requested against a letter signed by the account holder without
production of the Requisition slip from a previous cheque book, care should be taken
to establish the genuineness of this request, particularly when the address of the
account holder has recently been changed.

F. Issue of fresh cheque book to a customer whose account has been transferred to a
dormant account ledger shall be allowed only when the account holder calls on
personally at the branch for identification purposes and fill up cheque requisition slip
duly signed and the HOB has fully satisfied.

30
G. The cheque book will be issued in a following manner:

 The branch name, the account number, and the name of the client shall be printed or
written on each cheque leaf and requisition slip.
 The leaves of the cheque book under issue shall be counted to ensure that all the
leaves and bank requisition slip are in-tact.
 The name and account number should be entered in the cheque book issued register
against the relative cheque book series. The client or his representative shall
acknowledge the receipt and initialed by the Desk officer.
 The Cheque Book Requisition slip and cheque book issued register should be signed
by the Authorized Officer and each leaf shall be initialed by a Dealing officer.
 Cheque book delivered to the account holder at the counter should be acknowledged
by them overleaf on the requisition slip.
 An account holder may send a written authority to deliver a cheque book to his
authorized representatives. In that case signature of bearer must be attested by the
account holder.
 In special cases cheque books may be delivered by the bank messengers. But in such
case letter of acknowledgement must be sent to the customer along with the cheque
book.
 After issuance of the cheque book, the details of cheque numbers issued should be
recorded in computer program.
 The entries made in the computer shall be checked and signed by the Authorized
officer.
 All requisition slips against which cheque books have been issued, should be counter
checked with the cheque book issue Register, stitched with other vouchers at the end
of each business day, and will hand over to the officer in charge of vouchers for safe
custody.
 For issue & delivery of cheque book the issuing officer must tally the cheque book
register, previous issuance date, serial number of cheque leaves with the help of stelar.
 At the close of office stock of cheque books shall be placed in the safe or inside the
store room under the supervision of the authorized official.

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4.7 PROCEDURES OF ISSUANCE OF CHEQUE BOOKS

4.8 MICR PRINTED CHEQUE BOOKS

A. Under the MICR cheque system, the cheques are designed to have names, account
number, name of the branch printed on each cheque leaf.

B. All requests for MICR cheques are received in a day are to be entered into the
MICR cheque requisition Module of Stellar and sent to the Uposhahar branch
office Central Clearing Department who on their turn, arrange printing of the
cheque books with name of the account holder, name of Branch, account number,
cheque serial number form the approved vendor and send the cheque books to
respective Branches in accordance with the laid down procedure by corporate
Office from time to time.
4.8 CANCELLATION OF CHEQUE BOOKS

A. A cheque book can be cancelled for various reasons in which the unused cheque book
should be cancelled immediately after consultation with HOB/MOB. In other cases,
efforts shall be made to collect all unused cheques and Cheque requisition slips from the
Account holders when they intend to close accounts.
B. All unused cheques shall be returned only to the Officer-in-charge of the Department.
C. In case of, error and return of unused cheque books where cheques are entered into
systems, should be stopped as per stop payment procedure.
D. The Particulars of the closed account, with the unused cheques returned by the party, shall
be recorded in Account Closing Register.
E. The unused cheques and Requisition slips returned by a party shall be destroyed by
Officer-in-charge/ HOB/ MOB in the same day and a not to be mentioned in the Account
Closing Register and Cheque Book Issue Register.
F. When an account closing request is received without surrendering the active cheque
leaves and the customer informed that the remaining cheque leaves have been lost, the

32
 active cheque leaves would be cancelled before closing of the account after deducting
required charge, which is minimum TK. 200 and maximum TK. 2000 before closing the
account
4.9 CASH MANAGEMENT AND TELLER OPERATION

A teller is one who is the most important representative of the Bank who should build good
relationship with the customers. She/he has a direct personal role to play in handling deposits
of the customers. A major portion of a Teller’s work day is spent in receiving deposits
enchasing cheques, drafts, pay orders etc. The majority of the customers come in contact
solely with the tellers. This presents a special challenge to the Teller, for it she/he has to
maintain a good customer relationship through personal contact daily with the customer.

4.10 CASH MANAGEMETN/ VAULT CASH & RESERVE CASH

Cash management is very important function of a Branch. Excess/short of cash leads to a
Branch in a risky position. Another risky position is transportation of cash & other valuables
through local transport including traveler’s cheques, prize bonds and security papers are
regular job for Branch. Sylhet Branch will lay down the limits for the transportation of cash
and valuables under the custody of Ban employees covered by insurance policy. In no case,
cash should be transported beyond insurance limit. Cash handling without Branch is also a
risky matter, the teller should retain cash counter within counter limit. In every case, while
cash exceeded counter limit of insurance teller should transfer the cash into vault for safe
custody.

 Cash Remittance from Branch to Principal Office

A. If cash in hand of any Branch exceeds the limit given by the Main Office as per insurance
limit of vault, Branch shall inform Principal Office/ Main/ Feeding Branch in the area to
collect the excess cash within cash in-transit limit in one lot.
B. The sending Branch shall prepare a letter on depositing mentioning details of the cash
denomination.
C. Cash should be entered into vault control register as well as cash-in-transit register duly
signed by vault custodian and HOB/MOB.
D. An officer accompanies remittance along with Guards sent from Principal/Main/Feeding
Branch. The amount will be received by the cash officer accompanying remittance letter.
E. Then the officer shall receive the bundles, packed in a trunk under lock and key and send
for other Branch escorting earned guard with Banks vehicle.

33
F. The Principal/ Main/ Feeing Branch will verify and check the denomination mentioned in
the denomination slip and letter of sending Branch in front of the Authorized officer.
G. The receiving Branch shall receive amount entering into “Inward Cash Received
Register” and preparing voucher signed by two officers and by putting “Cash Received”
seal.
H. The acknowledgement of cash receipt shall be checked by authorized officer and voucher
will be posted by the teller.
 Cash Remittance from Principal office/ Main Branch to other Branch:
A. If a Branch is in need of cash, Principal Office/ Main Branch is informed in advance to
arrange cash, vehicle and security guards for remittance.
B. The requisition should be made on the previous day of the requirement.
C. Getting the requisition, cash-in-charge of the Principal Office/ Main Branch will get it
signed by the HOB.
D. The cash-in-charge then arrange the remit the cash properly entering into the vault
register.
E. The remittance shall enter into cash remittance register and shall be counter signed jointly
by joint custodians and cash-in-charge.
F. The receiving Branch shall receive the cash at their counter, enter the same into cash
receipt register.
G. The receiving Branch then issue IBCA to Principal Office Branch after passing necessary
journal entry.

 Receipt of cash
 Cash Receipt against Customer’s Accounts
Receiving cash teller follows the steps and check points:

A. The deposit slip shall be filled in and signed by the client for depositing cash to the cash
counter. The officers count then by cash counting machine & later manually the
notes/coins.
B. The cash receiving Officer shall count the cash and compare total with amount shown in
the deposit slip both words and figures.
C. If the amount still differs return the cash to the depositor for him to recount and correct
the amount in the Deposit slip.
D. The officer writes the amount with red ink on the face of the deposit slip.

34
E. The cash receiving officer must be confirmed about the account number deposited the
amount and the name of the account holder. The cash receiving officer shall sign and
affix a “Cash Received” seal on the deposit slip and on the carbon copy after confirming
name and account number.
F. Teller shall pass the entry into iStellar Module and affix “Posted” seal along with
transaction number.
G. Then the clients get the deposit slip signed by the cash-in-charge.
H. In case of beyond teller limit slip should be sent to authorizer and authorizer shall sign on
the deposit slip as well as authorized the transaction.
I. In case of cash receipt in credit vouchers originated from the department, the same shall
be signed by two authorized officers before depositing the same with the cash receiving
counter.
J. Cash teller can balance his/her physical cash position with system drawer’s position at
free time of the day. At the end of the day teller must generate batch journal report and
cross cheque with cash receiving vouchers.

 Cash Payment against remittance:

 Cash teller can’t directly process any remittance transaction.
 The remittance officer will complete all the formalities for remittance and
prepare a voucher for cash payment duly signed by the authorized operation of the
Branch and handover the voucher to the teller.
 Balancing and checking
At the close of the Banking hour the individual Receiving and Paying Cash Officers shall
total their respective teller’s Cash Proof sheet and tally the same with their respective balance
held by the cash Officer. The total figure of all cash receiving and Payment Registers shall
enter into the Cash Balance Book. The closing balance of individual book shall be written in
both figure and words. The Register shall be signed by the Cash-in-charge and MOB. The
cash balance book is checked with the closing figures of the preceding day of the book and
closing figures of Teller Cash Proof. The Cash Position memo would be sent to the Accounts
department. The account department will acknowledge receipts of the same on the duplicate
copy of the memo and fill in the “Cash Position Memo” file. The vault Register shall be
maintained properly.

35
4.11 PAY ORDER
A pay order is a written order, issued by a Branch of a Bank, to pay certain sum of money to
a specified person or a Bank. It may be said to be Banker’s cheque as it is issued by a Bank
drawn upon and payable by itself. A pay order is issued and paid by the same branch of a
Bank and as such, the drawer and drawee are the same. The person or the organization in
whose favor it is issued is known as payee or beneficiary.

A pay order is divided into three parts:

 The actual pay order
 The second counterfoil to be retained by the payee
 The first counterfoil to be retained by the issuing Branch as record.
The purpose of the Pay order is to execute transfer of fund from one hand to another. Such
transfer of fund should be for a specific purpose. A pay order may be issued to affect
payment on its own account by one bank to another bank in settlement of cheques returned
after clearing hours.

4.12 ISSUANCE OF PAY ORDER

A. Block series number of PO must be booked into the system by the Remittance Officer
before issuance of the PO.
B. The pre-printed PO serial number has to be posted in the system and no controlling
number is required to be entered in the system.
C. Instrument has to be signed by two authorized signatories with PA number.
D. Amount, Beneficiary, Currency, Name of issuing Branch is to be entered in the respective
field in STELAR system on instrument tally.
E. Particulars of the instrument matches with those entered into the system. Applicant of the
PO maybe existing customer or walk in customer of the branch. Issuance of PO should be
debiting customer account in case of account holder and against cash in case of walk-in-
customers.
4.13 PAYMENT OF PAY ORDER

A. Payment will be made to Beneficiary’s account.

B. Payment may be made to purchaser’s account only when beneficiary will release the PO.
C. Collecting Bank’s endorsement required in case of clearing payment.

36
D. Cash payment against PO can only be made by PO issuing Branch observing necessary
formalities.
4.14 Safe Deposit Lockers

Safe deposit locker facility is one of the subsidiary services provided by the Bank for keeping
the valuable in the safe deposit locker. This provides safety to the belongings of the
customers against theft. Bank provides specially designed lockers kept at specially built
strong rooms for keeping the valuables of the hirer purchased from reputed manufacturers.

A. The clients have the ownership of the lockers. She/he can use it as per condition of the
deed. The client cannot handover or sublet the locker.
B. The Bank has the right to close the Locker section for a certain period or forever if
considered risky without serving any notice to the locker holder(s).
C. If the locker holder does not serve notice for termination of the deed, this will be
treated as renewed for the next year.
D. Any change of the address of the hirer must be immediately notified to the bank.
E. In any case loss of key by the hirer, the lock of the locker would be replaced by the
Bank’s designated technicians.

F. Bank is not responsible for any kind or damage or loss of the things kept in the
lockers.
G. Locker can be surrendered by the hirers at any time during the contact period.

4.15 CLEARING

 Introduction of BACH

BACH (Bangladesh Automated Clearing House) is a new dimension in Banking that has
changed clearing operations in banking thoughts to redesign in digital form. It has increased
bankers’ service capacity and opened the multiracial e-com services to customers and

contributing increase of 1% GDP in the economy. BACH started commercially on 7 th

October, 2010 from Dhaka and step by step captured all traditional clearing houses over the
country (86 houses). Bank Asia Limited is recorded as core partner of implementation in all
stages of the project very successfully.

4.16 INWARD & OUTWARD CLEARING

37
Inward clearing: Handled by central clearing unit. Branch gets the report of inward cheque
details and ensures positive pay confirmation.

Outward clearing: BA follows decentralized module. Branch under checker system scan
the cheque, put amount and beneficiary name and a/c maker, checker confirms the entry and
saved.

 Clearing house section

In a more extensive sense we may characterize clearing house as facilitator to the part banks
to settle down their bury bank exchange i.e. checks for gathering from different banks. For all
intents and purposes clearing house is a house (Floor) of Bangladesh Bank (BB), national
Bank of Bangladesh, where each bank has its own particular work area with own name plate
and all the approved authority of all banks come here inside working time to settle their
entomb bank exchange. At present there 52 desks for 52 banks. Typically Bangladesh Bank
gives clearinghouse offices to its part in various areas and where BB branch is not accessible,
Sonali Bank, in the interest of BB, masterminds clearing house. Generally the approved
authority of each bank go to clearing house floor in opening time with all accumulation
checks in his grasp drawn on different banks and settle down their exchange by the plan of
clearing house. Usually two houses sit for settlement named as:

1. First house: Usually all the collection cheques are collected in this clearing house
except those who enjoy facility of same day house. Normally this house takes sit at
around 9:00 A.M. what's more, Return house sits at 5:00 P.M or as coordinated by the
House Super. And after that we put the cheque, gathered prior day, in clearinghouse
today for settlement. And after 5 p.m they credit the collected amount to the customer
account and the customer can withdraw money from his/her account on next
transaction day or through evening banking facility if provided by the bank.

2. Same day house or high value house: There is a special arrangement in Bangladesh
Bank Dhaka clearinghouse for some preferential area and clients, to settle down their
transaction within same day of placing the cheque in clearinghouse. Usually only
Branches located at Motijhil enjoys the facility. The criteria to appreciate the offices
of "Same Day House" is that the cheque must be drawn on and put by the banks
where both of the banks are situated in Motijheel region and the cheque values

38
 increasingly that Tk 500,000. Usually same day house starts around 11 p.m. and
return house for this takes place at around 2 p.m. Then they credit the money in
customer account and customers withdraw the money on the same of placing the
cheque in the house. Banks provide this facility only to valued clients and that is why
another name of this house is High Value House.
 Outward Clearing Process

Work preparation

 Banks ensures the use of UV detector in cheques at receiving counters for

detecting material alteration of any.
 They remove pin, scotch tape, deposit slip cheque counterpart and any
other foreign particles attached with the cheque.
 Isolate the Fresh respectable check and re-satisfactory check in discrete
bunch.
 IV. Make bunch of 50 cheques..

Scanning of cheque

 They input the amount and beneficiary name correctly in the scanning
machine.
 One run should not contain more than 5 batches.

Amount entry and balancing

 They carefully do the amount entry to ensure the correctness.

 If any batch is no auto balanced, they revisit amount entry d do it again.
4.17 OUTWARD COLLECTION

39
 Chapter - 5
"RESPONSIBILITIES PERFOMED
DURING INTERNSHIP"

I did my three months internship program in Bank Asia Limited, Sylhet Branch. I got the
opportunity to work in different department of the branch. I found myself very fortunate and
blessed for being able to associate with one of the renowned banks in Bangladesh.

Throughout my internship program, although I was assigned under Zaber Arbab

Chowdhury, Assistant officer (Sylhet Branch), I worked in customer service with Aporna
Rani Sinha, Executive Officer and GB in-charge. It was a very pleasant and educative

40
experience for me. I learned many new things about corporate life. Above all, I have learned
how to perform a task responsively on time. This practical experience is crucial for the
progress and preparation for oneself before entering into corporate world. I believe every
student should have this experience before entering into corporate life.

5.1 RESPONSIBILITIES PERFORMED DURING INTERNSHIP

The report has been prepared on the basis of experience gathered during the period of
internship. Within this period, I mainly worked with department namely General Banking,
Accounts department. I also work with Foreign Exchange Department for a really short time.
Bank Asia does not follow any specific guideline for the internship students. Sylhet Branch
has to do a lot of work and is really very busy all the time. They have huge pressures
compared to other branch. The Branch treated me as one of their employees not just an intern.
So, I had to do a lot of work.

5.2 CUSTOMER SERVICE DEPARTMENT

In this department, I started my work learning how to open a Bank account, how to fill up the
customers bank account opening forms. My immediate supervisor tried to give me a brief
description of his regular tasks before assigning me to any kind of activities. Later on through
my personal observation and guidance of the superior officer, I came to know about different
types of account like current account (C/A), savings account (SA), STD, FDR etc. He also
assisted me on how to answer clients versatile questions regarding different account opening,
what amount of interest they will get from different types of account, how to locate desired
cheque books form the bundle according to customers requirement, how to receive phone
calls and transfer them to other employee, how to keep patience and deal with the busy
customers.

5.3 ACTIVITIES DONE BY ME

1. I usually give the information to the customers about their desired accounts. If they
wanted to open a savings account I told them that they have to give 2 copies of their
Passport size photographs and 1 copy Passport size photograph of the nominee. They
are also required to submit the photocopy of their utility and a photocopy of their

41
 passport/national ID card. If they submit their tin number Government will take 10%
of their savings amount but if they do not have tin Government will take 15% of their
savings amount.
2. I used to update the customer’s account opening form.
3. I gave product related information to the clients.
4. I made phone calls to the customers if they did not submit all require documents.
5. I used to do cheque book and ATM card entries on register books and keep those
books at a safe place.
6. I worked in cash for 2 days where I received clearing cheque and separate deposit slip
from the cheque.
7. I distributed cheque books by asking them their name, account number and made
them sign on register books and then their sign verified by an officer.
8. I made phone calls to the customers who did not collect their cheque book or ATM
card after passing 3 or 4 months.
9. I put everyday courier to the savings account and also other require documents which
I got after opened an account.
10. Sometimes I checked voucher of other officers.
11. I used to do incoming mail entries in the incoming mail register.
12. I sometimes used to scan and print documents needed by officers.
5.4 OBSERVATIONS
Throughout my internship program, I have observed some aspects of this branch. Those are
given below:
1. Employees of Bank Asia Limited were very much co-operative and friendly. They have
extreme level of patience. They were always giving me a proper instruction before
assigning me any kind of work.
2. Employees there always try their best to help their customer.
3. The authority of Bank Asia Limited is exceptionally strict about punctuality.
4. Branch Manager held a meeting on first working day of a week and on that day women
employees has to wear saree.
5. The FVP and HOB has a good communication skill. He knows how to hold their
esteemed customeer.
6. They also maintain the festive culture on every occasion.

42
Despite all the positive responses I have also come across some negative issues. Those are
given below:

1. Lack of manpower: Since the main branch is one of the oldest branch, the workload of
the branch is very high compared to other branches of Bank Asia. But they do not have
enough workforce to manage the work pressures. If one employee is absent or on a leave,
another employee from same department has to look after the responsibilities of two
people. This can cause lack of motivation.
2. Lack of dynamic and prompt customer service: Since number of new banks is
increasing and they are introducing a very competitive customer service. Nowadays
people have very little time to waste and want fastest and unique services in short time.
But there are only two employees handling the overall customer service department. So,
sometimes they do not get the time to satisfy all the customers and customers have to wait
a long time and lost their patience.
3. Shortage of availability of machineries: The branch needs more printers and photocopy
machines. Employee’s activities are hampered most of the time for maintaining serial as
well as it creates gathering on their short space.
4. Lack of effective advertising and promotion: Advertising and promotion is one of the
weak points of Bank Asia Limited. They do not have any promotional activities.
5. Congested office area: Due to congested area, most of the customers do not get seats on
the pick hours.
6. Unsatisfactory software performance: Bank Asia uses iSTELLAR software to perform
their tasks. But sometimes the server becomes very slow and the software does not work
properly. If customers come or call to know their balance amount on that time, the
employees cannot give them the information.
After finishing my internship from this bank, I have realized that the problems mentioned
above can create obstacles for future prospect. Therefore, the management should be little
more careful about their employees.

To solve above problems Bank Asia, Sylhet Main Branch can do some of the following
things.

1. Allocate two employees for same position or for same task.

2. Hire more employees for customer service.
3. Arrange more seats for their customers.

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4. Give one small printer to each employee which will be connected with their pc.
5. Make a Facebook page where customer get information about their product and activity.

5.5 APPLICATION OF KNOWLEDGE FROM BBA TO COMPLETE EACH TASK

As a BBA student I learned many things from BBA program, gained a variety of knowledge
through the class lectures, text books, assignments, presentations, viva, exam etc. while
conducting my internship at Bank Asia Ltd, this knowledge was very helpful which I
practically applied.

Banking & Insurance

I learned about various types of account; such as savings deposit account; fixed deposit
account; current deposit account etc. when I joined in internship and worked in Account
Opening section; I gained knowledge about various negotiable instruments, but practically
saw those instruments in the bank.

Marketing

I have learned from this subject that the financial success often depends on marketing ability.
During my internship, I was able to identify who are seller, buyer, customer, consumer, user
etc. I was introduced with those in marketing subject.

Accounting

From these courses I came to know about the accounting system of an organization like
Bank. I have learned how to make trial balance, income statement, balance sheet, cash flow
statement. In Bank, there were many statements which I learned in academic courses.

Principles of Management

In my BBA program, the “Principles of Management” is the most effective subject. There are
many parts of management- planning, organizing, leading, controlling, motivating,
employment. I have achieved more knowledge about management. I am successful in my
internship program by applying theoretical knowledge of above stated parts. Hence, the
knowledge will play important role in my career, family & social life.

Organizational Behavior

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This subject is very important and effective subject in my BBA program. It is very essential
to learn about professional behavior. I have maintained good behavior with my colleagues,
clients authorities during my internship program.

Business Research

This is the course which helped me most in preparing my report. Through this course, I was
able to know how to collect and perform the analysis of data. It helped me to prepare a report
in a comprehensive way. It helped to realize the importance of giving a proper reference in a
report through bibliography. It made me aware about the purpose of the report.

Business Communication

Business Communication is one of the most essential courses. From this subject I learned
how to compose different types of letter and how to prepare a standard CV. I got special
benefit in my internship program by applying the theoretical knowledge of Business
Communication which is why the CV and cover letter is the excellent example of the
application.

Last but not the least, since "Finance and Banking" was my major subject and I completed
my internship in a financial institution- Bank, it was quiet easy for me to understand between
the theoretical and practical differences. I have learned how financial transactions are dealt, I
have learned about different types of accounts, loans, how e-banking are conducted, and what
could be the goal of a financial institution. I have learned all of this while studying BBA.

Although all of these courses are important for practical working experience, it is true that
academic knowledge is not fully used in practical working, but I think all of the subjects of
BBA program are linked with each other. So, it is sometimes hard to find any deviation of
academic knowledge with practical working experience.

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 Chapter - 6
"FINDINGS, RECCOMENDATIONS,
AND CONCLUSION"

6.1 FINDINGS OF THE STUDY

While preparing the report and analyzing the data, I have identified some major findings. I
have only worked at Sylhet Branch of Bank Asia Limited. Therefore, if the practices and

46
corporate culture of Bank Asia as a whole is believed to be the same as the Sylhet Branch ,
then the followings are the findings of my report:

1. There is a visible shortage in work force of General Banking department. Consequently,

the workload is extremely high compared to other branches. This also leads to
accumulation of work that the employees must complete within the deadline.
2. Bank Asia Limited provides wide ranging facilities to its employees to develop their
skills and knowledge about the entire banking system. However, with the existing
workforce shortage, an employee is sent to training without any replacement. This
increases the work pressures for other employees and lads to customer disappointment
due to delay of work.
3. The internet facility of Bank Asia is extremely poor. Recently this is a major issue
because it is mandatory by Bangladesh Bank IMP and L/C information online as soon as
they are issued. Due to slow internet connections, it becomes difficult for the employees
to input the information online. This also adds to customer dissatisfaction because if the
information is not entered into online monitoring system of Bangladesh Bank then the
customers can not release or ship goods.
4. Sometimes due to poor internet server, employees cannot tell the customers their required
amount of balance in their account. This also leads to customer dissatisfaction
5. The employees of most departments are not satisfied with the management regarding the
amount of work they have to do. Moreover they have to put up with a lot of difficulty to
apply for the annual leave (LFA) even though they apply for the leave on due time.
6. The employees are dissatisfied with some of the action taken by the management. For
instance, an employee is transferred from the credit department to another within the
branch. The transfer takes place within the span of one to two days, which is very short
time for the credit department employee to train his/her replacement.
7. There is lack of promotional strategies undertaken by Bank Asia Limited. This causes
substantial unfamiliarity of the bank among the rural people. It may hinder its long term
strategies in terms of reaching large number of customers.

6.2 RECOMMENDATIONS
Here in this part, I came up with the following recommendations which Bank Asia Limited
can move forward towards progress:

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1. Frequent market research: The management of Bank Asia Limited can regularly
administer research activities every three months through structured questionnaire or
through personal interview, in order to keep regular track of satisfaction levels.
2. Establishment of more ATM booths: Sufficient number of ATM booth might be
established in different location to reach out he customers even further and satisfying
their demand.
3. Improved Customer service: Improvement in customer service is very much essential.
To compete with other banks, customer service should be improved as online service,
internet service, 24 hrs customer service etc. New technologies should be taken for
effective services.
4. Handle complaints effectively: BA may give greater importance to manage the
complaints of various customers and to encourage customers to give feedback about the
services.
5. Improvement of online banking: Many major problems lied within the online service
are preventing BA form getting more positive response from its customers. Thus, BA IT
division still has several areas having some scopes for further improvement.
6. Recruitment of more employees: I have found that bank should increase their number of
employees. Sometimes employees cannot give proper attention to their clients because of
increasing work pressures. Bank can recruit more employees and divide their work
equally.
7. Pursue an attractive advertisement campaign: BA should focuses on advertising
campaigns in order to build up a strong image and reputation among potential customers.
TV adds maybe aired to reach a wider array of customers.
8. Training program: Bank can arrange different training program on different banking
rule and regulations set by Bangladesh Bank which will optimize the efficiency of
employees.
9. Bigger office space: The bank authority should rent bigger office space in order to reduce
the storage problem if required.

6.3 CONCLUSION

The roles of financial institutions have become exceedingly crucial with the increase in the
economic development in Bangladesh. Bank Asia Limited is the third generation bank that is

48
also contributes to the socioeconomic development of the country. Although Bank Asia
Limited has some issues that are needed to be resolved, nevertheless it is progressing and has
a greater prospect to develop further ones the problems are resolved.

Internship program is very important for every business student as we only have acquired
theoretical knowledge. This program gives us the prospect to have the practical knowledge so
that we can relate the theories to the reality. I am fortunate enough to complete my internship
program at Bank Asia Limited, Sylhet Main Branch. Moreover, I got the chance to work in
the General Banking department as well as in Foreign Trade department for some time.
Although the internship period is very short to acquire in-depth knowledge, yet it gave me the
taste of commercial world.

Bank Asia Limited is working tremendously to become one of the pioneers in banking. The
management is well organized and about time the bank achieves the goals. However, the
bank must launch advanced technologies and software to provide fastest service to its
customers. If they can ensure their customers about the service quality, it will give them the
opportunity to draw new and bigger clients.

REFERENCES
Books
 Reza, S.M., & Rabbani, G.M. (2014), Research Methodology, Dhaka, Grantha Kutir

49
  Varshhney, P.N. (2001). Banking Law And Practice, Revised Edition, Sultan Chad &
Sons.
 Ali, S.A, & Howlader, R.A(2000), Banking Law And Practice, Revised Edition, Mowla
Brothers
 Khan. Dr. A R. (2008) Bank Management-A Fund Emphasis,1st Edition, Dhaka,
Bangladesh
 Malhotra K. Naresh, Dash Satyabhusan (2010), Marketing Research, Exploratory
Research, Design: Primary And Secondary Data, 16th Edition
 Lawrence J. Gitman (2009) Principles of Managerial Finance, Financial Statements and
Analysis, 12th Edition

Websites

 http://www.bankasia-bd.com/

 http://www.bankasia-bd.com/annual_reports/Bank Asia Annual Report 2015.pdf

 http://www.bankasia-bd.com/annual_reports/Bank Asia Sustainability Report 2014.pdf

 http://www.bankasia-bd.com/annual_reports/Bank_Asia_Annual_Report_2013.pdf

 http://www.thedailystar.net/xpress-money-teams-up-with-bank-asia-9306

 http://www.thefinancialexpress-bd.com/2016/05/11/29828/Bank-Asia-receives-BB-

appreciation

APPENDIX
FVP- First Vice president

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EO-Executive Officer

MOB – Manager Operation of Branch

BA- Bank Asia

PO- Pay of Order

SME- Small Medium Enterprise

ATM- Automated Teller Machine

KYC- Know your customer

DB- Double benefit

MB- Monthly benefit

TIN- TAX identification number

VAT- Value Added tax

FOB- Free on board

BACH- Bangladesh Automated Clearing house

HOB- Head of Branch

MICR- Magnetic Ink character recognition

GL- General Ledger

GB- General Banking

LFA- Leave fare assistance

BB- Bangladesh Bank

TP- Transaction Profile

FCAD- Financial control and Accounts department

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