revised ab bank report

8/7/2019 revised ab bank report

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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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