Clearing: Definition-Types-Steps-Benefits-Limitations Ever wondered how money moves so smoothly between banks, stock exchanges, or businesses? The secret lies in a process called clearing. It might sound complex, but it’s something we interact with more often than we realize—whether paying for your morning coffee, transferring funds, or trading stocks. In this […]
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bKash bKash is a subsidiary of BRAC Bank Limited. It started their journey as a joint venture company between BRAC Bank Limited, Bangladesh as well as Money in Motion LLC of USA, and in April 2013 International Finance Corporation (IFC). It is a member of the World Bank Group, bKash […]
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All BD Bank Swift Code A AB Bank PLC Swift Code: ABBLBDDH Website: www.abbank.com.bd Agrani Bank PLC Swift Code: AGBKBDDH Website : www.agranibank.org Al-Arafah Islami Bank PLC Swift Code: ALARBDDH Website : www.al-arafahbank.com B Bangladesh Commerce Bank PLC Swift Code: BCBLBDDH Website : www.bcblbd.com Bangladesh Development Bank […]
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Multilateral Investment Guarantee Agency (MIGA) The Multilateral Investment Guarantee Agency (MIGA) is a part of the World Bank Group and is designed to promote foreign direct investment (FDI) in developing countries by providing political risk insurance and credit enhancement to private sector investors and lenders. MIGA’s main objective is to […]
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The World Bank The World Bank is a major international financial institution dedicated primarily to reducing poverty and promoting development in low- and middle-income countries. It comprises two main entities: IBRD (International Bank for Reconstruction and Development): Established in 1944 to help rebuild Europe post‑WWII. Today it lends to middle‑income […]
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Discrepancies of Letter of Credit Common discrepancies in the export documents Claused/unclean/foul/dirty Bill of Lading. Charter party/stale/third party Bill of Lading (Unless stipulated in the letter of credit ) ON BOARD notation in B/L updated/unauthenticated. Shipment effected from the port other than that stipulated in the credit. Goods shipped on […]
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What is Outward Remittance? Foreign Outward Remittance: Foreign currency being made out abroad may be termed as foreign outward remittance. Purpose of outward remittance are: a) Import Bills Payment b) Payment against Contract or Agreement c) Travel d) Education e) Treatment f) Membership fees g) Fees for Application h) Examination […]
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Securities company of Bangladesh Securities company of Bangladesh A.B. ISPAHANI SECURITIES LID. Rep: Mirza Ali Behrouze Ispahan! Chairman & M.D Ispahani Building (2nd Floor) 14-15, Motijheel C/A, Dhaka-1000 Ph: 9555192, Res :8827061, Mobile : 01819-240459 Fax : 9565319, 9553193 E-mail : mmi@mmpahani.com A.B.S. SAFDAR & CO. LTD. Rep: Dr. A.M.B […]
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What is Foreign Remittance? Definition: Remittance represents the transfer of funds from one place to another through an official channel. Foreign Remittance: Foreign Remittance refers to the remittance of foreign currency that is received in and made out abroad. Foreign Remittance also includes the purchase and sale of freely convertible […]
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Step of Letter of Credit Opening Step One: If any importer wants to open a L/C, the importer is to be a customer of the bank and the importer will maintain a Current Account. Step Two: Importer submits an application requesting for opening L/C for US$. …….. for import of […]
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