An Overview of Foreign Exchange Operations of Sonali Bank Limited, Suihari Branch, Dinajpur

Abstract

Sonali Bank Ltd is one of the state-owned banks in our country. People and the government itself are very much dependent on the service provided by the 61 banks in the financial markets. One country can be able to produce some item more in amount than it needs. Given the situation, the item more than necessary needs to be exported to some other country that cannot produce the same as per requirement and vice versa. And this situation leads to international trade, which is executed maintaining some procedures. Everybody though linked with international trade somehow in the globalization era today, does not have a clear knowledge as to what these procedures are like. I have chosen this topic of my internship report because it helps me to practical acquaintance on the Foreign Exchange Activities. Secondly I tried to identify the problem and find out the solution to the shortcoming foreign exchange activities and provide suggestion that may supportive for the betterment of the system thought comparing it with other banks. This report has intended to serve that purpose of giving an overview of import export procedures along with a highlight on foreign remittance and that from Sonali Bank Limited, Local office perspective. The main limitation of this report I got limited time for gathering all information about foreign exchange operation. The report is almost all description. The report gives an insight into the procedures and formalities maintained by Sonali Bank Limited in handling international trade-import, export, along with foreign remittance. The report has been conducted largely depending on secondary data sources such as manual, annual reports, bank parikrama and other documents. To fulfill the objective I have done the analysis of some numerical data and showed them with the help of significant graph. Necessary recommendation is provide to hold the services, which are accelerated by the bank according to the analysis of the report. It is mentioned here that no structured/written questionnaire was used for the object to serve.