The Future Of Bangladeshi Bank Essay

The Merriam Webster dictionary defines the noun “bank” as “an establishment for the custody, loan, exchange, or issue of money, for the extension of credit, and for facilitating the transmission of funds.” In essence it is an institution that serves as a medium of flow of funds between users and savers. A bank is a financial institution that links the flow of funds from savers to users and back. For the purpose of this audit report we will broadly classify banks into two major categories: commercial banks and investment banks.

The banking industry has over the years evolved from simple to large and complex organization. They have grown from one street building into having multiple branches some of which are international. Their clients range from individual and institutions to governments and other banks. Banks do not manufacture physical things. Their work is simply services for money (Koch & MacDonald 2010). Such services include storing, lending and managing money. All people and institutions, as well as governments, need money to operate accordingly.

Banks can be described as a financial institution where deposits are accepted and credited from the public. There are very essential in the financial systems as it influences the economy of a country. Most of the countries follow a system which is known as fractional reserve form of banking. Under this policy banks holds liquid assets which is equal to only a part of your current liabilities. These institutions are subjected to minimum capital standard which is called Basel Accords. Banks are specific place which will ensure that your finances are secured.

A bank is an institution that facilitates financial transactions between the parties. Amongst its standard operations are accepting deposits from the customers, lending money as loan (cite). The major source of income for banks is interest income which is earned on loans given to the customers, business firms and corporations. This very nature of it makes banking institutions so crucial for economic development of any country. Strong banking operations and fundamentals paves the way for higher customer and investor confidence in the company.

Banks are the most significant players in the Indian financial market. They are the biggest purveyors of credit, and they also attract most of the savings from the population. Dominated by public sector, the banking industry has so far acted as an efficient partner in the growth and the development of the country. Driven by the socialist ideologies and the welfare state concept, public sector banks have long been the supporters of agriculture and other priority sectors. They act as crucial channels of the government in its efforts to ensure equitable economic development.

The bank extends its loan facility to create employment and achieve economic growth in rural Bangladesh. It provides loan to farmers, fish and shrimp cultivators, and micro entrepreneurs. They may have loan for agro equipment and other expenditure related to production. All the efforts are targeted to employment generation and self employment. Well, all these loans are at easy terms.

As an indispensable part of BBA program, I, Khondaker Shihab, was placed in Bangladesh Development Bank Limited, BDBL Bhaban, 8, Rajuk Avenue, Dhaka-1000 under the direct supervision of Sajal Kumar Dey, Assistant Lecturer, Department of Accounting and Information System, Jagannath University. After joining there I was placed in several departments for practical knowledge. After having three month experience I prepare my report on ‘Rehabilitation process of Bangladesh Development Bank Limited(BDBL)’ I have tried to cover relevant and important information that I have observed especially from the Loan Operation Department and Loan Recovery Department.

The banking sector in Bangladesh is included in the financial sector which is small and underdeveloped. Rubel and Kee (2013) stated that the well-being of an employee is not considered as a priority, so it was determined that employee engagement would be one of the ways to develop the banking sector. Transformational leadership style is an important factor to increase engagement amongst employees with specific impact on employee attitudes and behavioral outcomes. Raja (2012) found that transformational leadership has an influence on higher levels of employee engagement in the workplace with its multiple attributes such as, idealized influence, inspirational motivation, individual consideration, and

I recently caught an article on U.S. banking from one of my favorite U.S. websites "Banking Connects." The essence of the piece was that U.S. banks were awash in funds, but entrepreneurs were somewhat "floating alone" in help on floating that loan! So, let 's try and "Canadianize" that comment a bit with respect to a franchise loan in Canada, with emphasis on how to successfully loosen the purse strings of those franchise lenders for your funding needs. Two critical components of success in franchising funding are your overall "package" of information, including a business plan and cash flow document, as well as owner capital. For non-financial types, those two fairly basic elements are still daunting though. The good news is that for very modest prices, a number of solid sources can recommend assistance or even complete the package on your behalf. The cost by the way? Reasonable! And now on to owner capital. If there 's one constant question we get from clients, it 's "How much money do we have to put into the business." Naturally, we have the perfect answer that never seems acceptable at the outset: "It depends." That 's because the amount of money you put into the business is dictated by several areas of planning that must all come together. They are as follows: In certain instances, some Canadian or U.S. franchisors doing business in Canada might even strongly dictate how much money you have to put down. We suggest that they might be doing this by experience,

Bangladesh is a developing country nevertheless the present day progress of this country is remarkable. According to World Bank’s development indicators, Bangladesh ranked 44th in the world economy. In spite of its economic progress, poverty remains a curse. By looking at the poverty headcount ratio of 43.3% as of 2010, we can still notice that most of the people are living under poverty line. Furthermore, the economic development of our country comes with an additional cost that is environmental degradation. As the Kuznets’s curve demonstrates developing counties undergo increased environmental degradation with economic growth. Similarly, in Bangladesh, the government encourages industrialization in many sectors to boost economic growth and alleviate poverty. On the other hand, industrialization is not reducing poverty levels or increasing the standard of living of the poor because many firms do not follow the rules and regulations. This in turn also is a reason for pollution and environmental degradation. Poor still remain poor for the cruel pollution-poverty cycle, while pollution and environmental degradation increases with mass industrialization, contributing to increased poverty.

It initiated the policy discussions with regard to providing new bank licenses, designing the road-ahead for the presence of foreign banks and holding company structure for banks

This bank is situated in the Parrys, Chennai having more than 1000 crore as their overall portfolio and they are having the Infrastructure portfolio of 150cr

The country has liberalized its banking and telecommunication sectors. Although, Bangladesh did not make any commitment in financial sector under GATS but the rate of liberalization in the financial

Ltd. established mainly through the initiative of a group of Bangladeshi professionals then working abroad along with a few enthusiastic local entrepreneurs, started its operation in December, 1986 after the Government of Bangladesh allowed the private sector to operate in the insurance sector in 1984 to carry on the business of insurance in the Private Sector. A brief explanation as to the growth of life insurance business in Bangladesh is in order here. Bangladesh declared independence from the Pakistani rules on March 26, 1971 following which she had to witness a bloody liberation struggle with the occupation forces lasting for 9 months before they were defeated. Insurance business which was exclusively carried on in private sector before independence was nationalized after liberation in 1972 primarily to address the emerging situation of eroding public confidence in the industry that was left staggeringly short of resources in the face of huge losses caused by the war of liberation. After a series of experimentation, a state-owned body, namely Jiban Bima Corporation (JBC), established in May, 1973 for transacting the life insurance business, took over the assets and liabilities under life portfolios of all erstwhile private insurance companies and started business in its own name. However, things did not improve;

A bank is a financial institution that provides banking and other financial services. By the term bank is generally understood an institution that holds a Banking Licenses. Banking licenses are granted by financial supervision authorities and provide rights to conduct the most fundamental banking services such as accepting deposits and making loans. There are also financial institutions that provide certain banking services without meeting the legal definition of a bank, a so-called Non-bank. Banks are a subset of the financial services industry.