What is bank guarantee? What is bank guarantee? A guarantee is a promise made by the person/organization (or guarantor) to the Banker that he will pay the present or future debt in case of default by the principal debtor. So the guarantor is undertaking to repay the debt in case […]
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Social Islami Bank PLC: A Comprehensive Overview Social Islami Bank PLC (SIBL) is a prominent name in the banking industry of Bangladesh. Established with the mission to provide ethical and innovative financial solutions, SIBL has been a significant player in the financial sector. This article delves into the various aspects […]
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AB Bank PLC Overview Information of AB Bank AB Bank PLC Overview Corporate Information: Name of the Company: AB Bank Limited (ABBL) Legal Form: Public Limited Company Date of Incorporation: 31st December 1981 Commencement of Business: 27th February 1982 Registered Office: BCIC Bhaban, 30-31, Dilkusha C/A Dhaka 1000, Bangladesh Telephone: […]
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The function of the Product Development Manager The Product Development Manager: Duties and Responsibilities: 1. Develop Branch Recognition: • Develop a plan on execution for branding activities and contribute to budget development. • To develop and executed brand visibility strategies. • Launch new products and re-brand existing products to sustain […]
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Banker and Customer Relationship Banker and Customer Relationship features: Customer: In general, any individual/organization that maintains an account with the bank is treated as a customer. But in some situations, Banker extends their services to the individuals/organizations even if they are not customers as defined above. According to the duration […]
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How to use the Export Development Fund The Export Development Fund is expected to contribute to a sustained export drive and long-term development of Bangladesh Exports by assuring a continued availability of Foreign Exchange to meet the import requirements of particularly new exporters, exporters diversifying into higher value exports & […]
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Relationship Manager functions Relationship Manager functions are given below: Duties and Responsibilities: Preparing and implementing action plans and programs for mobilizing deposits, the opening of accounts, and obtaining new profitable corporate business. Consulting and advising customers on appropriate investment options. Marketing for deposits in both local and foreign currencies from […]
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What are the Retail Banker Functions? Functions of The Head of Retail Banking To grow Retail Banking business by providing effective leadership to the Business Unit’s staff and management of the department’s operations to optimize the acquisition of new customers; selling of Bank products; quality of customer management and maintenance […]
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What is SMS Banking Services? 1. What is SMS Banking? This is a service that allows customers to access their account information via mobile phones. SMS banking services are operated by using both push and pull messages. Push messages are those messages that the bank chooses to send out to […]
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Essential Qualities of a Successful Banker 1. A Banker includes a person or corporation or company acting as a Banker.” – Negotiable Instrument Act, 1881 2. Banker includes a body of persons where incorporate or not who carry on the business of Banking. – Bill of Exchange Act, 1882 3. […]
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URR 725 URR 725 is the acronym of Uniform Rules for Bank-to-Bank Reimbursements. UNIFORM RULES FOR BANK-TO-BANK REIMBURSEMENTS APPROVED ON 15-16.04.2008. IN FORCE SINCE 01/10/2008 Table of Contents of URR 725 URR 725 – Article 1 Application of URR URR 725 – Article 2 Definitions URR 725 – Article 3 […]
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How many Parties are involved in Letter of Credit (LC) There are mainly 6(six) parties involved in a letter of credit which may be summed up as under: a) Opener: The applicant of L/C or the Importer / Buyer / L/C applicant. b) Opening Bank: The Bank opening the L/C […]
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Multilateral Investment Guarantee Agency (MIGA) Formation 1988 Type Development finance institution Legal status Treaty Purpose Political risk insurance, foreign direct investment Headquarters Washington, D.C. Membership 180 countries Executive Vice President Keiko Honda Parent organization World Bank Group Website miga.org The Multilateral Investment Guarantee Agency (MIGA) provides guarantees against losses […]
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Top 10 bank in UK Top 10 bank in UK are: 1. HSBC Holdings: HSBC was founded in 1880 and is headquartered in London. The bank employs around 85,000 individuals (including subsidiaries). It operates through Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking […]
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Know Your Customer (KYC) KNOW YOUR CUSTOMER (KYC), CASH TRANSACTIONS REPORT (CTR) AND SUSPICIOUS TRANSACTION REPORT (STR) A definition of what constitutes the offence of money laundering under Bangladesh law of the Prevention of Money Laundering Act 2002: “Money Laundering means – Properties acquired or earned directly or indirectly through illegal […]
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