...Financial Markets and Institutions ULAB 12/28/2011 Department: USB Section: 01 Islamic banking system Letter of Transmittal December 28, 2011 Shahriar Kabir Lecturer Financial Markets and Institutions ULAB Subject: Request to Accept Term Paper regarding “Islamic Banking System” Dear Sir, We are very pleased to submit the term paper on “Islamic Banking System”. We were assigned to prepare and submit this term paper as the partial fulfillment of the course Financial Markets and Institutions (Course Code: Bus 421). We have tried our best to prepare this term paper perfectly. Nevertheless, this paper has been suffered by time and other resource limitation. We will be obliged, if you kindly accept this term paper. We are ready to make you clear regarding any confusion or further clarification from this term paper. Sincerely yours, Nasrin Akter (On the behalf of all the group members) Table of contain Title | Page no | Executive summary ……………………………………....……4Introduction ……………………………………..….………….5History………………………………….…………….…...........5Features of Islamic bank………………………………………..6Who follow……………………………………………………...6Who are the customers ………………………………………….6Principles of Islamic banking……………………………………6Worldwide Islamic banking ……………………………………..7Activities of Islamic Banks...
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...AMERICAN INTERNATIONAL UNIVERSITY BANGLADESH A Report submitted in partial fulfillment of the degree of Bachelor in Business Administration (BBA) REPORT TOPIC: Islamic Banking System in Bangladesh Course name: INTRO. TO BEHAVIORAL SCIENCE Section: F (BBA) Course Instructor: MOHAMMAD MOSTOFA JAMAN Faculty of Business Administration Department of BBA American International University-Bangladesh Group Members Name and ID: 1. Nahar Tanjin 2. Nibir Md. Nahidul Islam 3. Niger Farzana 4. Hossain Mohammad Saddam 5. Mustasin Abdullah Al Date of Submission: 13th December, 2011 SOCIAL ISLAMI BANK LTD. A Joint Venture Islamic Bank SOCIAL ISLAMI BANK LIMITED 15, Dilkusha Commercial Area Dhaka-1000 Bangladesh Phone: 880-02-9559014, 9557499, 9568275, 9565647 Fax: 9568098 E-mail: info@sibl-bd.com ceo@sibl-bd.com URL: www.siblbd.com Webmail: mail.sibl-bd.com LETTER OF TRANSMITTAL 13TH December, 2011. MOHAMMAD MOSTOFA JAMAN Faculty of Business Administration Department of BBA American International University-Bangladesh Subject: Submission of the report on Islamic Banking System in Bangladesh. Dear Sir, Following your instruction we have prepared a formal...
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...Overall Banking System of NCC Bank Limited,Bangladesh Executive Summary National Credit and Commerce Bank Limited (NCC Bank) is a wellestablished Bank in Bangladesh. It is developing and expanding its branchesin the country with innovative products and banking services, to gain greateracceptance as an effective and efficient means of intermediation and tocontribute to the overall wealth creation.This report is prepared as arequirement of the internship phase of BBA program of Northern Universityof Bangladesh. This report focuses three months working experiences inNational Credit and Commerce Bank Limited, Foreign Exchange Branch. Thisreport will give a clear idea about the activities and operational strategies of National Credit and Commerce Bank Limited.The whole working process of NCCBL is divided into 3 sections-(1) General Banking, (2) Credit Section, (3)Foreign Exchange. Here first chapters basically discuss about the backgroundof the report, objectives and methodologies used in preparation of the reportand limitation faced at preparation. The main objective is to identify thevarious activities provided to customers by National Credit and Commercebank Ltd. and descriptive analysis about their operation. Next I have tried toconcentrate on Internship duties and banking function (general banking,loan and advances and foreign exchange business) and marketing part onthe basis of some specific topics.The objective of the internship program wasto familiarize the student with the...
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...International Journal of Islamic Financial Services Vol. 2 No.1 REGULATION OF ISLAMIC BANKING IN BANGLADESH : ROLE OF BANGLADESH BANK Abdul Awwal Sarker As regards the supervision and inspection of the banks in Bangladesh, an equal treatment is being followed for all banks including the Islamic ones by the Bangladesh Bank. In some cases, Bangladesh Bank has given some special provision for the Islamic banks. Yet, for the smooth development and operation of the Islamic banking, Bangladesh Bank should devise the separate regulatory and supervisory guidelines for the Islamic banks and non-bank Islamic financial institutions. 1. Banking System of Bangladesh The banking system of Bangladesh is composed of a variety of banks working as Nationalized Commercial Banks (NCBs), Private Banks, Foreign Banks, Specialised Banks and Development Banks. However, 28 out of 50 banks in Bangladesh are private, of which only 5, namely Islami Bank Bangladesh Limited, Al-Baraka Bank Bangladesh Limited, Al-Arafah Islami Bank Limited, Social Investment Bank Limited, and Faysal Islamic Bank of Bahrain E.C. have been operating as Islamic banks. Besides these full-fledged Islamic banks, two conventional banks in the private sector namely the Prime Bank Limited and Dhaka Bank Limited, have opened two full-fledged Islamic banking branches and Islamic Banking Counter respectively to deal with the Islamic banking business parallel to their conventional operations. The operations and accounts of these...
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...prospect and growth potentials of Islamic banks in Bangladesh as perceived by Islamic and conventional bankers. The study noted that there is a high demand for interest-free banking services from a segment of people in Bangladesh who have a strong desire to abide by the rules and principals set by Shariah. Along with religious requirement, economic exigencies provide a new outlook to the role of banking in promoting investment/ productive activities, influencing distribution of income and adding stability to the economy. The Islamic banking sector is, however, criticized on several grounds by the Conventional bankers. The banks are believed not to apply the rules of Shariah completely. Islamic banks are said to include interest in their dealings to compete effectively with the Conventional banks. Moreover, conventional banks offering Islamic banking as a parallel service are thought to do so only to add to their profitability, by attracting people who value the Shariah based system by enjoying the advantages of the special treatments from the Central bank. According to the survey, suitable and supportive legal framework would facilitate better growth of this sector. Moreover, the lack of an inter-bank money market and sufficient supportive and link institutions in the sector, act as impediments to growth of Islamic banking. Also, banks perceive the availability of training and education on Islamic banking to be inadequate in Bangladesh. To deliver superior services to the clients and...
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...Report on Bangladesh Electronic Fund Transfer Network: A Study on Prospect of Payment and Settlement System in Bangladesh Prepared by Kafil Uddin Muhammad Zahid Mahmud ID: 80802062 Supervisor Professor (Dr) Khondoker Bazlul Hoque Department of International Business University of Dhaka Date of Submission: November 26, 2015 Department of International Business University of Dhaka November 26, 2015 Professor (Dr) Khondoker Bazlul Hoque Department of International Business University of Dhaka Subject: Submission of Internship Report. Dear Sir With due respect and humble submission I beg state that I want to submit my internship report consist of “Bangladesh Electronic Fund Transfer Network: A Study on Prospect of Payment and Settlement System in Bangladesh” as the study part of which you had assigned me for fulfillment of the course “Internship” of Evening MBA program. May I note here that, there will be no dearth of sincerity on my part to bring the issue under study into proper focus. However, I would like to request you to consider if any error is found in my report. Finally, I would like to request you to permit me to conduct the research on my proposed topic and submit my report on that. Thanks in advance for your kind assistance and advice in this connection. Yours obediently, Kafil Uddin Muhammad Zahid Mahmud ID. 80802062 2nd Batch, Department of International Business University of Dhaka Contact No. 01715720770 Email: kafil_uddin@yahoo.com ii | P a g e ACKNOWLEDGMENT...
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...Introduction The banking sector has received most intense condemnation and examination over the years due to lack of proper regulations and supervisory structures which led the banking sector into severe financial depression. With the banking conditions now of Sonali Bank Limited & Bangladesh Bank (Central Bank) with all those issues that have been thrown into them due to the deregulation in the banking sector in the country. According to Alam (2012), if there is a proper implementation of banking regulations and supervision structures, definitely, banking efficiency and profitability would follow. The efficient and effective banking regulations serve as a unified power to control the creation, operation and liquidation of the banking sector as well as a proper control in the stability of the economy of the country. Hence, BB as the Central Bank of the country should put into appropriate places all the specialized banking supervisory regulations and policies that can protect the depositors from higher risks of losing their deposited money in the banks. The core objective of the banking sector is to provide total protection to the investors with their money and funds. Both businesses and individuals have the rights to be ensured with certainty and safety about their funds in the banks. A smooth and acceptable public confidence and trust should be sustained and continually developed into more trusted banking system environment that can provide a high level of banking services all...
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...Introduction Background Online Banking or Electronic Banking is a new but emerging technique in Bangladesh. it has not been long time that the banking sector of Bangladesh adopted automation but the positive thing is the speed of transformation that means the change is happening so fast and Bangladesh is adopting the modern method of banking appropriately. Since it has been launched, online banking is getting more and more popular. Online banking pioneers in Bangladesh are the multinational banks but other local banks (both the public and private) followed the trend almost in a paralleled way. A number of private as well as local banks are going online now considering the demand and necessity of fast banking. Online banking not only provides banking facility for 24 hours, moreover it helps countries to get attached with one another and helps to advance in trade and commerce. It actually helps to be interlinked, to go global and to stay updated with the current money and asset management techniques. The online banking is also referred as Electronic banking or Internet banking. As the world is going global so people from different countries are now getting engaged in business and other activities thus they now need very fast and easy access to bank accounts to fulfill the exchange formalities. In Bangladesh many banks have adopted online banking, these banks are HSBC, SCB, Citi Bank NA, Dutch Bangla Bank, City Bank, Bank Asia, Eastern Bank, Jamuna Bank, UCBL, AB Bank etc. All of...
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...E-banking in Bangladesh: An exploratory study on how the banks are adopting with e-banking E-banking in Bangladesh: An exploratory study on how the banks are adopting with e-banking Prepared for: Mr. Shubhankar Shil Assistant Professor School of Business Administration University of Liberal Arts Bangladesh Course Teacher Insurance and Leasing Prepared by: Muntasir Rashid Khan Student ID. 1268 BBA Program (1st Batch) Department of Finance & Banking JahangirnagarUniversity Savar, Dhaka-1342 March 08, 2012 Letter of Transmittal March 08, 2012 Mr. Shubhankar Shil Assistant Professor School of Business Administration University of Liberal Arts Bangladesh Subject: Submission of Term Paper Dear Sir: I have great pleasure to submit my required term paper on E-banking in Bangladesh: An exploratory study on how the banks are adopting with e-banking. I have provided my best effort to conduct this report. Now I am presenting my report for kind assessment and hope that it will fulfill your satisfaction. Any kind of suggestion or recommendation from your side will be highly appreciated. Thank you. Sincerely yours, |..................... | | | |Muntasir Rashid Khan | |Student ID. 1268 | BBA Program (1st Batch) Department of...
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...Government of Bangladesh. The mission of the bank is to actively participate in the socio-economic development of the nation by operating a commercially sound banking organization. The Bank provides all kinds of commercial banking services to its customers including accepting deposits, extending loan & advances, discounting & purchasing bills, remittance, money transfer, foreign exchange transaction, guarantee, commitments etc. The principal activities of its subsidiary are to carry on the remittance of hard-earned foreign currency to Bangladesh. Janata Bank Ltd. has a plan to switch over to a multidisciplinary financial institution by conducting Merchant Banking business and Islamic Banking operation. Immediately after the independence of Bangladesh in 1971, the erstwhile United Bank Limited and Union Bank Limited were nationalized and renamed as Janata Bank. Janata Bank is a pioneer when it comes to Information Technology but the current scenario is very disappointing. Janata bank first installed its server in the year 1968, even before the independence, under its parent company. But till 1990, no further initiatives were taken. IT Resources: Information Technology Division: It is very significant to adapt with the ongoing information technology revolution to provide faster services to the clients. In 1990, the IT department in Janata Bank started its journey. It supervises the overall computerization of the banking operations and networking, provides system support,...
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... 1.1 Background Bangladesh is the third largest Muslim country in the world with around 135 million populations of which 90 percent are Muslim. The people of this country are deeply committed to Islamic way of life as enshrined in the Holy Qur'an and the Sunnah. Naturally, it remains a deep cry in their hearts to fashion and design their economic lives in accordance with the percepts of Islam. The establishment of Islami Bank Bangladesh Limited on March 13, 1983, as the first of its kind in Southeast Asia, was the true reflection of this inner urge of its people. It was both a hope and a challenge to the Islam loving people of the country in general and the pioneers of the Islamic banking movement to make it a success. In the beginning there was some doubt in the minds of many people about the viability as well as the sustainability of the Islamic banking system. But the history of two decades of Islamic banking operation in Bangladesh not only removed this doubt from the minds of the people but also showed how a new banking concept based on Islamic values could so rapidly establish itself as the most modern, dynamic, and popular bank of the country. Within this short span of time the workforce of Islamic banks in Bangladesh in general and Islami Bank Bangladesh Limited, in particular, by their strong commitment and tireless effort have been able to prove the superiority of Islamic banking over conventional banking in every department of banking operations and services...
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...STARTED EVERYWHERE WITH THE BANKING SYSTEM AND ITS CONTRIBUTION TOWARDS FINANCIAL DEVELOPMENT OF A COUNTRY IS HIGHEST IN THE INITIAL STAGE. MODERN BANKS PLAY AN IMPORTANT PART IN PROMOTING ECONOMIC DEVELOPMENT OF A COUNTRY. BANKS PROVIDE NECESSARY FUNDS FOR EXECUTING VARIOUS PROGRAMMERS UNDERWAY IN THE PROCESS OF ECONOMIC DEVELOPMENT. THEY COLLECT SAVINGS OF LARGE MASSES OF PEOPLE SCATTERED THROUGHOUT THE COUNTRY, WHICH IN THE ABSENCE OF THE BANKS WOULD HAVE REMAINED IDEAL AND UNPRODUCTIVE. THESE SCATTERED AMOUNTS ARE COLLECTED, POOLED TOGETHER AND MADE AVAILABLE TO COMMERCE AND INDUSTRY FOR MEETING THE REQUIREMENTS. ECONOMY OF BANGLADESH IS IN THE GROUP OF WORLD’S MOST UNDERDEVELOPED ECONOMIES. ONE OF THE REASONS MAY BE ITS UNDERDEVELOPED BANKING SYSTEM. GOVERNMENT AS WELL AS DIFFERENT INTERNATIONAL ORGANIZATIONS HAVE ALSO IDENTIFIED THAT UNDERDEVELOPED BANKING SYSTEM CAUSES SOME OBSTACLES TO THE PROCESS OF ECONOMIC DEVELOPMENT. SO THEY HAVE HIGHLY RECOMMENDED FOR REFORMING FINANCIAL SECTOR. SINCE 1990, BANGLADESH GOVERNMENT HAS TAKEN A LOT OF FINANCIAL SECTOR MORE TRANSPARENT, AND FORMULATION AND IMPLEMENTATIONS OF THESE REFORM ACTIVITIES HAS ALSO BEEN PARTICIPATED BY DIFFERENT INTERNATIONAL ORGANIZATIONS LIKE WORLD BANK, IMF, ETC. IN 1996, WORLD BANK PUBLISHED ‘BANGLADESH: AGENDA FOR ACTION’ IN WHICH IT HAS SUGGESTED A LOT OF RECOMMENDATIONS FOR ECONOMIC DEVELOPMENT OF OUR COUNTRY. THESE RECOMMENDATIONS INCLUDE SPECIAL PRESENTATION FOR REFORMING BANKING SECTOR. BANK IS THE MOST...
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...Evidence From Bangladesh. Submitted To: Abul Khayer Lecturer Department of International Business University of Dhaka Submitted By: Raju Ahmed (Id no. 5) Lima Nath (Id no. 19) Tanzin Ara (Id no. 26) Zuairiyah Mouli (Id no. 43) Syed Arman Ali (Id no. 57) Department of International Business (3rd Batch) University of Dhaka Letter of Transmittal 3rd november, 2013 Abul khayer Lecturer Department of International Business University of Dhaka Sir, This is to inform you that the report on “The information security challenges and threats of private Banks: evidence from Bangladesh” that you assigned us to prepare has been submitted already. We have tried our best to disscuss the findings. Hope our report will fulfill the purpose and encourage us to do further. We express our gratitude to you for your guidance and we hope that this report will fulfill your requirements. Any short of suggestion regarding this report will be greatly acknowledged and we will feel proud if our paper serves its purpose. Sincerely Yours, Raju Ahmed (Id no. 5) Lima Nath (Id no. 19) Tanzin Ara (Id no. 26) Zuairiyah Mouli (Id no. 43) Syed Arman Ali (Id no. 57) Department of International Business (3rd Batch) University of Dhaka Table of Contents Abstract 4 Executive summary 5 1. Introduction 6 2. Literature Review 7 3. Research Objectives 9 4. Methodology 10 5. Technical Product Used by Bank in Bangladesh 11 5...
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...Strengthen the Financial System of Bangladesh - MONZUR HOSSAIN∗ -MD. SHAHIDUZZAMAN∗ Abstract Non-bank financial institutions (NBFIs) represent one of the most important parts of a financial system. In Bangladesh, NBFIs are new in the financial system as compared to banking financial institutions (BFIs). Starting from the IPDC in 1981, a total of 25 NBFIs are now working in the country. As on June 30, 2001 the total amount of paid up capital and reserve of 24 NBFIs stood Tk.6901.8 million (BB, 2002). The NBFIs sector in Bangladesh consisting primarily of the development financial institutions, leasing enterprises, investment companies, merchant bankers etc. The financing modes of the NBFIs are long term in nature. Traditionally our banking financial institutions are involved in term lending activities, which are mostly unfamiliar products for them. Inefficiency of BFIs in long-term loan management has already leaded an enormous volume of outstanding loan in our country. At this backdrop, in order to ensure flow of term loans and to meet the credit gap, NBFIs have immense importance in the economy. In addition, non-bank financial sector is important to increase the mobilization of term savings and for the sake of providing support services to the capital market. The focus of this paper is to highlight the necessity and importance of NBFIs to strengthen the financial system for rapid economic development of the country. 1. Introduction Building a sound financial system is an immense necessity...
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...Acknowledgment This assignment based on “General Banking Practices- A Case Study Of Dutch-Bangla Bank Limited” has been prepared for the requirement of the Bachelor of Business Administration, under the supervision and coordination of Mr. Mohammed Abu Rayhan, Department of Finance, Faculty of Business, ASA University Bangladesh. I would like to start my acknowledgment by thanking Mr. Mohammed Abu Rayhan for assigning me the topic and for his cooperation and guidance to conduct this case study. Special recognition goes to “ASA University Bangladesh” for allowing me to conduct this study and accomplish this assignment. Finally, I would like to give thanks to the Almighty Allah. Table of Contents An Introduction to Bank Dutch-Bangla Bank Limited (DBBL) started their journey by M Sahabuddin Ahmed (Founder & chairman) and the Dutch company FMO in 1995. It is the largest bank in Bangladesh by under the Bank Companies Act 1991 and incorporated as a public limited company under the Companies Act 1994 in Bangladesh with the primary objective to carry on all kinds of banking business in Bangladesh. Dutch Bangla Bank is noted to be the first and only local bank in Bangladesh to have an automated banking system. The bank has spent over Tk. 1 Billion in automation upgrades (first bank in Bangladesh to do so). This automation took place in 2003 whereby services of the bank were available uniformly though any branch, ATM and internet. Banking was a paper based until DBBL, with its...
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