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Internship Report
ON
Customer Services ofChatak Branch
Submitted To
Dr.
Professor
Department of
University of
Submitted by
Md. Kamal uddin Bhuiyan
MBA Roll No-
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Letter of Transmittal
October 04, 2006
Dr.
Professor
Department of
University of
Dear Sir,
I hereby present the report entitled Cu
stomer Service ofC
hatak Branch (AB Bank Ltd)which is an integral part of the MBA program.
In order to prepare this report, I have gathered the most complete information available in the
Branch. I have prepared this report using the experience that I have gained from preparing a lot
of term papers during the last two years academic study. If you need any kinds of further
explanation or clarification, I will be glad to provide it accordingly.
Sincerely,
________________________
(Md. Kamal Uddin Bhuiyan)
MBA Roll-50
MBA 6th
Batch
Department of
University
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Acknowledgement
At first, I would like to thanks to the All Mighty for special blessing in completing the report. I
am grateful to a number of persons for their kind advice, suggestions, directions and co-
operation.
This report is an accumulation of many peoples effort. So, with my full honesty I would like to
show my gratitude to them who helped me in preparing this report.
First, I am thankful to the. Department, University of for giving me such exposure to
the practical business world. My warmest thank goes to Prof. Dr. , professor and my
internee supervisor and other teachers of the . department for providing me the opportunity to
undergo the internship program.
My special thanks goes to Mr. , operation manager, of Chatak Branch (AB Bank Ltd. I am
thankful to the whole team ofChatak Branch.
Finally, my sincere thanks go to my internal supervisorProf. Dr. Professor,Department of
, University of for his appropriate suggestions, moral support and invaluable co-
operation from time to time in completing the internship program especially in the last three
months. However, the responsibilities of errors and omissions in the report, if any, lie with me.
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Executive Summary
The Masters of Business Administration (MBA) program is a professional program. The
program is designed to meet the needs of the students who want to develop their career as
executives in the fields of different business areas as well as teaching and research positions in
different institutions. To obtain this degree, Internship program is an integral part.
The internship program helped me a lot to learn about the practical environment and situation of
a financial institution and also make up a bridge between the theoretical and practical aspects.
This report is organized as following: part-1: contains background of the study, objective of the
study, methodology of the study, report organization, limitation of the study. Part -2: contains
brief overview of BSB, Objectives of BSB. Part-3: contains various functional departments of
BSB and their major activities.
Chatak Branch operational procedures are performed mainly by ten departments. To evaluate
each project properly they employ various tools and techniques.
All information included in this study is taken mainly from various reports of Chatak Branch,
loan sanctioning letter, manuals of various departments, Internet etc. Certainly there are some
drawbacks in their operational procedures. In order to overcome these drawbacks, some
suggestions have been made in my study also.
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Preface
Through this report an individual can suppose to have a good knowledge and understanding on
Customers service performed by Chatak Branch (AB Bank Ltd). I have tried my level best to put
more emphasis on Customers services of Chatak Branch since it was the topic of my internship
report. This report is to be used only for the academic purpose. The author of this report
collected the necessary and relevant data from both primary and secondary sources. But the
author could not collect all the necessary information because the organization maintained
confidentiality in providing some information. After three months long hard labor, it has become
possible for the report being comprehensive and factual. The data is truly and strictly
confidential and no one can use its components in full or partial. I would like to give thanks to
everyone who has helped and encouraged me in the process of preparing this report.
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Table of Contents
Content Page No.
Letter of Transmittal
i
Acknowledgement
ii
Executive Summary
iii
Preface
Chapter One: Introduction 1-51.1
Introduction
2
1.2 Work schedule 3
1.3
Objectives of the study
3
1.4
Coverage of the study
4
1.5 Methodology of the study 4
1.6 Limitations of the Report 5
Chapter Two: Overview of the Bank6-25
2.1 Evolution of the Word Bank: 7
2.2 The Emergence of Modern Banking: 7
2.3
Banking in Bangladesh
7
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PROFILE OF THE AB BANK LTD.
AB Bank Ltd, one of the leading commercial banks, is functioning with diversified financial &banking group by applying state-of-the art technology to meet international standards. Along
with its subsidiary, AB Bank Limited provides commercial banking services in Bangladesh. Thecompanys products comprise of current, demand, savings, short-term, and fixed deposits, as
well as bearer certificates of deposit. Its loan portfolio comprises agriculture, large and mediumscale businesses, working capital, export, commercial, and small and cottage industry loans;
unsecured loans, such as personal, auto, jewelry, house, office furnishing, renovation, education,and staff loans, as well as loans for executives; secured personal loans and overdrafts; credit
cards; project and trade finance; and onshore and off-shore syndicated and equity finance. Thecompany also offers cash management, corporate advisory, locker, non-resident Bangladeshi
banking, money transfer, Islamic banking, merchant banking, custodial, and brokerage services.
COMPANY DESCRIPTION:
Contact Info
BCIC Bhaban 30-31 Dilkusha C/A
Dhaka, 1000
Bangladesh
Phone: 880 2 956 0312
Fax: 880 2 956 4122
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CORPORATE INFORMATION OF AB BANK LIMITED:
Name of the Company
AB Bank Ltd
Legal Form: A public limited company incorporated on 31st December, 1981 under the
Companies Act, 1913 and listed in the Dhaka Stock Exchange Ltd and Chittagong Stock
Exchange Ltd.
Commencement of Business
27th February 1982
Registered Office
BCIC Bhaban, 30-31, Dilkusha C/A
Dhaka 1000, Bangladesh.Tel: +88-02-9560312
Fax: +88-02-9564122, 23
SWIFT: ABBLBDDH
E-mail: [email protected]
Web: www.abbank.com.bdces
CHATAK BRANCH OF AB BANK LTD.
Chatak Branch of AB Bank Ltd. Started functioning on June 28, 2007 under the Companies Act,
1994. The branch has introduced several new products on credit and deposit schemes. It also
goes for Corporate and Retail Banking etc. The branch also participated in fund Syndication with
other Banks. Through all these myriad activities Chatak Branch has created a positive impact in
the Market.
LOCATION OF THECHATAK BRANCH:
Madris Mansion
1st floor,Sunamganj,chatak.
Sylhet, Bangladesh.
TelE-mail:
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Introduction:
Good customer service is the lifeblood of any business. It deals with all aspects of acquiring,
keeping, and growing customers. It involves managing detailed information about individual
customer and carefully managing customers touch-points in order to maximize customer
loyalty. You can offer promotions and slash prices to bring in as many new customers as you
want, but unless you can get some of those customers to come back, your business won't be
profitable for long. So, good customer service is all about bringing customers back. And about
sending them away happy - happy enough to pass positive feedback about your business along to
others, who may then try the product or service you offer for themselves and in their turn becomerepeat customers. The essence of good customer service is forming a relationship with customers
a relationship that that individual customer feels that he would like to pursue. Mainly customer
service is the overall process of building and maintaining profitable customer relationships by
delivering superior customer value and satisfaction.
Bank is also committed to provide high quality financial services/products to contribute to the
growth of the country through stimulating trade and commerce, accelerating the pace of
industrialization, boosting up export, creating employment opportunity for the youth, poverty
alleviation, raising standard of living of limited income group and overall sustainable socio-
economic development of the country. In achieving the aforesaid objectives of the Bank,
Customer services of the Chatak Branch is of paramount importance as the greatest share of total
revenue of the Branch is generated from it, maximum risk is centered in it and even the very
existence of Branch depends on prudent management of its credit portfolio.
FUNCTIONAL DEPARTMENTS OFCHATAK BRANCH:
The ChatakBranch is headed by one relationship manager. There are several sections headed by
some most skilled and experienced person under the manager. These are:
1) Account Opening Section2) P.O, T.D.R, M.S.B, M.S.S, Haji Section3) D.D, T.T Section4) Cash Section
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5) Foreign Exchange Section6) Investment Section7) Clean Cash Section8) Clearing House Section9) Transaction Entry Section10)Transfer & Locker Service Section
MANAGEMENT STRUCTURE OFCHATAK BRANCH:
Manager (Relationship)
Principal OfficerPrincipal Officer
Operation Manager
Senior Officer
OfficerOfficerOfficer Officer Officer Officer
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PRODUCTS &SERVICES OFCHATAK BRANCH:
I. Retail bankingII. Corporate banking
III. SME bankingIV. Project financeV. Loan syndication
VI. NRB bankingVII. Money transfer
VIII. Lending ratesIX. Deposit ratesX. Exchange rates
XI. Cards
RETAIL BANKING:
Retail banking is composed of different types of products that are promising to fulfill increasing
consumer demands and provide better customer satisfaction. The most important types of
products/loan of retail banking of Chatak Branch are as follows:
A. Personal banking loan productsB. Secured loan
Personal banking loan products:
The majorPersonal banking loan products under retail banking are categorized as follows:
y Personal loan: Personal loan may be availed for any purpose deemed appropriate forlifestyle and personal exigencies including purchase of household items, marriage, travel,
medical treatment, CNG conversion, Festival, renovation etc.
y The important criteria regarding personal loan of Chhatak Branch are: Loan limits: Minimum tk. 50,000/
Maximum tk. 500,000/ (up to Tk ten lac covered by tangible
security acceptable to the bank.)
Charges: Application fee: Tk. 500/-
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Processing fee: 1% on the approved loan amount or Tk. 2000/-
whichever is higher.
Tenure: Min 12 monthsMax 36 months
Max 60 months (for house/office renovation loan)
Rate of interest: 14.50% p.a. - 17.50% p.a. Security: Hypothecation of the product to be purchased. Guarantee: Personal guarantee of spouse/parents only.
Education loan (disbursed to parents/guardian:
The prime concern of education loan is to help parents/guardians for admission,
education fees, semester fees and study abroad for their children or wards Loan limits: MinimumTk50,000/-
Maximum Tk. 5,00,000/- (up to Tk.Ten lac covered by tangible
security acceptable to the bank)
Charges: Application fee: Tk. 500/-Processing fee: 1% on the approved loan amount or
Tk. 1000.00 whichever is higher.
Tenure: Minimum 12 monthsMaximum 48 months
Rate of interest: 14.50% p.a. - 17.50% p.a. Guarantee: Personal guarantee of spouse/parents only
Home loan:
The main grounds behind offering home loan to customers of Chatak Branch are to make
them capable of purchasing of apartment/house within the Municipal areas of town or
cities in Bangladesh, purchasing of independent house not more than 5 years old and
completing of construction of a new house.
Loan limits: Minimum BDT 500,000/-Maximum 80% of the value of the flat or construction cost for
completion but not more than Tk. 1,00,000,00/-
Charges: Application fee: Tk. 500/-Processing fee: 1% on the approved loan amount
Rate of interest: 13.00% p.a. Tenure: Minimum 3 Years
Maximum 15 Years
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Guarantee: Personal guarantee of spouse/ parents/legal heir
Auto loan:
This loan is granted in acquisition of brand new and reconditioned cars.
Loan limits: 80% of the value of the brand new car or reconditionedcar but not exceeding BDT 20,00,000/-
Charges Application fee: Tk. 500/-Processing fee: 1% on the approved loan amount or Tk. 5000.00 whichever is
higher
Tenure: Reconditioned Car: Max 60 monthsBrand new Car: Max 72 months
Rate of interest: 14.50% p.a. - 17.50% p.a. Security: Hypothecation of the vehicle to be purchased. Guarantee: Personal guarantee of spouse/ parents only.
Secured Loan:
The branch offers two types of secured loans.
A. Personal loan:With a view to meet personal requirement of fund this loan is provided to the customers of
Chatak Branch.
Loan limits: Maximum 95% of the present value of the security Tenure: Minimum 12 months
Maximum 36 months
Charges: Processing fee: Tk. 1000/- Rate of interest: For the Branch FDR, 3% higher than the rate of deposit Security: Lien over FDR, ICB Unit Certificate, RFCD, NFCD, CD
account(s) etc.
Guarantee: One personal guarantee in case of third party cashcollateral.
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B. Personal overdraft:
This loan is disbursed in order to meet personal fund requirement.
Loan limits: Maximum 95% of the present value of the security. Tenure: Revolving with annual review. Rate of interest: For the Chatak Branch FDR, 3% higher than the rate of
deposit
12.00 % p.a. -15.00 % p.a. (for other Bank FDR)
Charges: Processing fee: Tk. 1000/- Security: Lien over FDR, ICB Unit Certificate, RFCD, NFCD,
and CD account(s) etc. One personal guarantee in case of third party cash
collateral
CORPORATE BANKING:
Chatak Branch provides a wide range of services to meet local corporate customers'requirement. Their Corporate Banking solutions include a broad spectrum of products and
services backed by proven, modern technologies.
CORPORATE LENDING:
A highly skilled team of chhatak Branch of AB Bank Ltd. offers a comprehensive serviceproviding finance to large and medium-sized businesses to the local corporate persons.
STRUCTURED FINANCE:
This branch has a specialist Structured Finance Team who arrange and underwrite financesolutions including Debt and Equity Syndication for financial sponsors, management teams
and corporate. It also provides corporate advisory services. It aims to provide tailoredfinancing solutions with a dedicated team who can rapidly respond to client needs.
Following are some of the products and financial tools of Corporate Banking:
y Project Financey Working Capital Finance
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y Trade Financey Cash Managementy Syndicated Finance, both onshore & off-shorey Equity Finance, both onshore & off-shorey Corporate Advisory Services
SME BANKING:
SMEs have an important role in boosting economic production, employment generation and
poverty reduction in developing economies like Bangladesh. It is estimated that more than 90%of the industrial enterprises in Bangladesh belong to the SME category. SMEs of a labor-
abundant and a capital-scarce country have a natural comparative advantage for boosting
production and increasing domestic availability and thus reducing dependency on imports andthereby save hard-earned foreign exchange. Considering the importance of SMEs, Governmentof Bangladesh has announced Policy strategies for Development of Small and MediumEnterprise-2005 and extended several packages for flourishing SMEs. There is a greater
awareness amongst the government organizations, the industry and the knowledge institutions tofocus on the need for the SMEs and termed them as growth engine of our economy but progress
of SMEs are still behind the targets.
Growth of manufacturing industries was 5.92% (large & medium 5.65%, small 6.59%) in 2008-09 which was 10.77 (large & medium 11.41% & small 9.21%) in 2005-06 (source: Bangladesh
Economic Survey 2009). It is apparent that growth of industries has been declining gradually
even though government is keen to see a vibrant manufacturing sector in Bangladesh.Implementation of announced policies and minimize regulatory barriers needs urgent attentionfor SME development.
SME LOAN:
Considering the volume, role and contribution of the SMEs, in the last two decades Chatak
branch has been patronizing this sector by extending credit facilities of different types and tenor.As of now 54% of the branchs total loan portfolio is segmented to the SMEs which deserve all
out attention in their plans, projections and forecasting.
As such the branch has emphasized on the following issues:
y To provide the best services to the SME sector.y To increase the SME portfolio significantly.y To improve the quality of portfolio.
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SME Sectors in which Chatak Branch has participated so far:
y Agro machineryy Poultryy Animal Feedy
DairyP
roducty Fruit Preservationy Hotel & Restaurantsy Garments Accessoriesy Leather productsy Plastic producty Furniture : Wooden & Metaly Inky Painty Printing & Packagingy Wire & Cabley
Aluminumy Cement and Lime Plastery Clinics and Hospitalsy Engineering & Scientific Instruments
LARGE LOAN & PROJECT FINANCE:
In order to cater the demand of client, Chatak Branch has segmented its portfolio in terms of loansize. As per this segmentation any loan over Tk. 10.00 crore falls under the purview of Large
Loan Unit. In Chatak Branch, there is also a separate Project Finance unit who evaluate the
business. The unit is entrusted to handle the portfolio in a focused manner. Chatak Branch isalways in front to support establishment of new projects of diverse nature which will help tobroaden the manufacturing arena vis--vis to generate to employment. Presently, Chatak Branch
s exposure in Large Loan & Project Finance portfolio is distributed in the following sectors:
y SL sectors Fig in lac(tk)
1 Agro- Business 12,717.56
2 Cement Power, Glass 38,691.92
3 ConsumerProducts 21,855.00
4 Edible Oil 36,057.53
5 Engineering & Construction 18,106.42
6 Financial Institution 1,414.70
7 Food & Beverage 27,044.24
8 Hotel 2,505.26
9 Health Care 3,928.62
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10 Printing & Packaging 11,867.61
11 Real Estate 10,451.49
12 Micro-finance 5,763.15
13 Export 9,441.63
14 RMG & Backward Linkage 94,826.1315 Ship Breaking 18,029.20
16 Steel 42,824.97
17 Telecom & Computer Accessories 11,479.89
18 Trading 77,579.89
Total ( including syndicated exposure) 444,585.21
Less Syndicated Exposure 51,560.29
Total Large Loan & Project Finance portfolio without syndicatedexposure:
3930,24.92
LOAN SYNDICATION:
Syndication or club financing is a growing concept in Banking Arena of Bangladesh.
Syndicated finance diversifies the risk of one bank on a single borrower and increases thequality of loan through consensus or cumulative judgment and monitoring of different banks /
financial institutions. Chtak Branch (AB Bank) the first bank in the private sector also tookinitiative to adapt to this growing concept. In 1997, AB Bank for the first time arranged a club
financing with Dhaka Bank Ltd to raise Tk. 6700 lac - out of which ABBL financed Tk. 5700Lac and Dhaka bank financed Tk. 1000 Lac.
NON-RESIDENT BANGLADESHI (NRB) BANKING:
Facilities offered to NRBs:
Opening of Foreign Currency A/C: Chatak Branch opens Foreign Currency Account inUSD/GBP/EUR/JPY for NRBs. Foreign Currency can be remitted by the Nationals of
Bangladesh living Abroad earned by them as wage earners or from other sources. The depositamount can also be used for remittance to other countries as per their requirement.
Wage Earners Development Bond: These Bonds can be issued from the balance of the FC
account with tenure for five years. Rate of interest is 12% p.a. in BDT.
USD Premium Bond: These Bonds can be issued from the balance of the FC account withtenure for Three years. Rate of interest is 7.5% p.a. in BDT.
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USD Investment Bond: These Bonds can be issued from the balance of the FC account withtenure for Three years. Rate of interest is 6.5% p.a. in USD.
List of Exchange / Money Transfer Remittance Houses are as follows:
MONEY TRANSFER:
Foreign Remittance through Exchange House
For Inward Remittance, Chatak Branch (AB Bank) has established extensive drawing
arrangement network with Banks and Exchange Companies located in the importantcountries of the world to facilitate money transfer for local clients
Name of the Exchange Companies
Zenj Exchange Co.
P.O. Box 236Manama
Kingdom of Bahrain
Oman Exchange Company
Ltd. W.L.LPost Box # 26057
13211 Safat
Kuwait
Security Exchange Co.
WLLPost Box # 29760
Safat
KuwaitInternational Financial LineP.O Box 2171Safat
Kuwait
AlHanifa Exchange Co.
Exchange MarketDahala building
P. O. Box 548, Code 15256Kuwait
Remit Master Sdn. Bhd
No. 21 Lebuh Pudu50050 Kuala Lumpur
Malaysia
Oman United Exchange Co. Majan Exchange L. L.c, Puroshottam Kanji
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L.L.C.Near Ruwi Police StationP.O. Box 889
MuscatPostal Code 100
Sultanate of Oman
C R. NO. 104446P.O. BOX No. 583Postal Code 117
Sultanate of Oman
Exchange Co. LLCPost Box # 41Postal Code 113
MuscatSultanate of Oman
Al-Fardan Exchange Co.
LLC
Post Pox # 339Mushrib Street
DohaQatar
Gulf Overseas Exchange Co.
L.L.C
P.O. Box No. 3931Ruwi 112
Sultanate of Oman
Modern Exchange Co. LLCPost Box # 3401 PC 112
RuwiSultanate of Oman
Al-Ansari Exchange Co.
Head OfficeAmin Tower
Liwa StreetPost box-325
Abu DhabiU.A.E.
Habib Qatar International
Finance & Investment LtdPost Box # 1188
Mushirib StreetDoha
Qatar
Habib Exchange Co. LLC
Central Office,Sheikh hamdan street.
P.O Box-2370Abu Dhabi
U.A.E
Emirates India
International ExchangeP. O Box 7190
DubaiUnited Arab Emirates
Wall Street Exchange Centre
LLC1103,1104-Twin Towers
Baniyans RoadP.O. Box 3014
DubaiU.A.E
U.A.E. Exchange Centre
LLCPost Box # 170,
Sh. Hamdan StreetAbu Dhabi
United Arab Emirates
K.S. Enterprise Ltd.134, Cannon Street RoadLondon El 2LH
UK
Continental ExchangeSolutions(Ria Financial Services)
13825 Cerritos CorporateDrive
Suite C'' CerritosCalifornia
USA
MoneyGram PaymentSystems Inc1550 Utica Avenue South
Minneapolish, MN 55416USA
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DEPOSIT RATES:
Interest Rates with effect from November 03, 2010
Products Interest Rate
Savings Deposits
Upto 50,00,00,000 6.00%
50,00,00,001 to 100,00,00,000 7.75%
Above 100,00,00,000 8.00%
SND (Special Notice Deposit)
Upto 1,00,00,000 4.00%
1,00,00,001 to 25,00,00,000 5.00%
25,00,00,001 to 50,00,00,000 6.00%
50,00,00,001 to 100,00,00,000 7.00%
Above 100,00,00,000 8.00%
Security Deposit Receipts (SDR) / CallDep 3.00%
NFCD Rate as per Daily FX rate
FC & RFCD (Minimum balance USD 2000or its equivalent for other currency & min
tenor one month)
Rate as per Daily FX rate
Fixed Deposit (Time Deposits)
1 (One) Month
5,00,00,000 & above 6.00%
3 (Three) Months
Upto 99,99,999 8.50%
1,00,00,000 to 9,99,99,999 9.50%
10,00,00,000 & 99,99,99,999 9.75%
100,00,00,000 & Above 10.00%
6 (Six) Months
Upto 99,99,999 8.50%
1,00,00,000 to 9,99,99,999 9.50%
10,00,00,000 & 99,99,99,999 9.75%
100,00,00,000 & Above 10.00%
1 (One) Year
Upto 4,99,99,999 9.50%
5,00,00,000 to 99,99,99,999 9.75%
100,00,00,000 & Above 10.00%
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2 (Two) Years 8.00%
LENDING RATES:
Products Mid rate Interest rate
1) Agriculture 13% 13%2) Large &Medium scale industries 13% 13%3) Small industries 13.25% 13.25%-
16.25%4) Export 7% 7%5) Commercial lending 13% 13%6) House loans 13% 13%7) Consumer credit 14.50% 14.50%-
17.50%8) Credit card 2.00% per month
2.00%per month
ELIGIBILITY OF A CARD HOLDER:
If the customers maintain an account with the respective branch of ABBL, they are able to have
ABBL Visa Debit Card. They need to visit their branch and fill up the Application form andsubmit it. Within 7 working days, customers will receive the card.
NEW MICRCHEQUE BOOK:
Chatak Branch has started Issuance of new cheque book from June 01, 2009 as per Bangladesh
Bank guideline. Customers can easily collect new cheque book from their Account Opening
Officer of Chatak Branch. As per Bangladesh Bank instruction, Chatak Branch has implemented
MICR coded cheque book from June 6, 2009, which will be customized by the Bank. MICR is a
process of printing cheques using magnetic ink and special fonts to create machine-readable
information. It is the first step towards electronic cheque clearing process.
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The new MICR coded cheque book will provide some facilities as under:
y Quick processing and faster cheque clearing timey Prevent cheque related fraudulent activities
In this regard, Chatak Branch would request customers to collect the new cheque book on or
before July 31, 2009.
Bangladesh Bank Clearing House will not honor existing chequebook leaves after July 31, 2009.
However, customers may persist to use existing chequebooks to withdraw cash over the counter
or to transfer funds to another customer other branches of AB Bank Ltd.
.LOSTCHEQUE BOOK:
In case of Loss or destruction of any Cheque Book containing unused Cheque leaves, customers
will inform the branch immediately. The written confirmation of this matter should be sent later
which should be duly acknowledged by our Bank branch.
ACCOUNT OPENING SERVICES:
INDIVIDUAL AND JOINT ACCOUNT:
Branchs prescribed Account opening application form (to be signed by the applicant in front
of BM/RM/CSM)
y Two Passport Size Photographs of the Account holder(s) attested by the introducer.y Specimen Signature Card (To be signed by the applicant in front of BM/RM/CSM)y Estimated Transaction Profile andy Any of the following Identification Documents
Name of Identification Document Issuing Authority
Current valid passport Passport Office
Valid driving license Bangladesh Road Transport
Authority
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Voter ID Card Election Commissioner
Armed Forces ID card Employer or their delegate
A Bangladeshi employer ID card bearing the
photograph and signature of the applicant
Employer or their delegate
A certificate from any local government organs such as
Union Council chairman, ward commissioner etc. (Inthis case the certifier should attest applicants
photograph along with signature
UP Chairman / Ward Commissioner
Trade license with photograph can be accepted forindividual's identification
Local Govt Authority / UPChairman
Pourashava Chairman / WardCommissioner
The idea is any document showing photograph, signature and address of the customer issued
from a dependable authority (Managers and Supervisors have to apply judgment) areacceptable. All photocopies should be verified with the original and attested by an authorizedofficer of the Bank. DSEs or other contractual staffs are not allowed to verify photocopies.
Particular care should be taken in accepting documents, which are easily forged, or which canbe easily obtained using false identities.
SOLE PROPRIETORSHIP ACCOUNT:
y Branchs prescribed Account Opening application form.(to be signed by the applicantin front of BM/RM/CSM)
y Two Passport Size Photograph of the Proprietor attested by the introducery Specimen Signature Card (To be signed by the applicant in front of BM/RM/CSM)y Copy of valid Trade License issued by Local Government authority (City Corporation,
Pourashava, Union Parishad etc.)y Permission from Bangladesh Bank (For Buying House, Indenting or other specific
businesses)y TIN issued by Income Tax Authorityy The personal identity of the proprietor of the Firm has to be established by any of the
documents as mentioned in Individual or Joint Customer category. If the Trade
License carries the photo and signature of the Proprietor this is not required.
PARTNERSHIP ACCOUNT:
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y Branchs prescribed Account Opening application form signed by the partners in frontof BM/RM/CSM
y Certified copy ofPartnership Deed/ Agreementy List of the Partners with Addressy Extract of resolution of the partners Meetingy Copy of valid Trade Licensey Photograph of the signatories/ Partnersy Specimen signature card (To be signed by the signatories in front of BM/RM/CSMy Introducers signature in the A/C opening form and at the back of the photograph(s) of
Account holder(s).
y Identity of all Partners/ Directors must be verified in line with the requirements forpersonal customers. Where a formal partnership agreement exists, a mandate from the
partnership authorizing the opening of an account and conferring authority on thosewho will operate it should be obtained.
y Evidence of the trading address of the business or partnership should be obtained anda copy of the latest report and accounts (audited where applicable).
y An explanation of the nature of the business or partnership should be ascertained (butnot necessarily verified from a partnership deed) to ensure that it has a legitimate
purpose.
CHANGE OF ADDRESS:
First of all customers have to fill up banks prescribed address change form (available any of our
branches) or they can send the branch in writing change of address with a copy of utility billdocuments showing their new address.
CHANGE OF SIGNATURE:
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Customers are needed to fill up branchs prescribed signature change form (available in our
branches) or they can request of change of signature by letter with the latest copy of their
passport size photographs.
CLOSING OF ACCOUNT:
Customers may close their account(s) at any time by giving notice or submit Account Closure
Form available in our branch. On closure of the account, the branch will pay the credit balance
(if any) of the account and any interest due account(s) holder. They will surrender the unused
cheque book/leaves along with requisition slip, ATM Card and other materials (if any) supplied
by the branch for operation of the account.
TRANSFERENCE OF FUND TO OTHER BRANCH OF AB BANK:
The customers can transfer their fund to another account through request letter or they can useBranch cheque with cash deposit slip wherein they clearly mentioned beneficiary Account
Number & Name of the customer.
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RECOMMENDATIONS:
. Success in the banking business largely depends on effective lending and Advance foreign
exchange facilities. Less the amount of loan losses, the more the income will be from Credit
operations. Beside this successful foreign exchange activities can provide more profit to theBank and also create a positive image of the country in the international trade. Though there are
some drawback X in the foreign exchange department and credit department, modern banking
technology and employees sincerity may lead to increase profit.Chatak Branch strives to be
one of the leading branches with the model of multi-functional financial & banking group by
applying state-of-the art technology to meet international standards among other branches.
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