Issuing a documentary credit Learning objectives: In the context of this chapter, the words ‘customer’ and ‘applicant’ are interchangeable and reflect the status pre-issuance (customer) and post-issuance (applicant). This chapter describes the process performed by a bank from the time of its receipt of an application form, as completed by […]
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Essential elements of a sales contract Essential elements of a sales contract 5.1 Introduction The most basic agreement in international trade is the sales contract concluded between a seller and a buyer. This is often referred to as a ‘sales agreement’, an ‘export contract’ or a ‘foreign sales agreement’. For the purpose […]
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CDCS Training materials-Examining documents Introduction To develop an understanding of what is considered to represent international standard banking practice in the examination of documents, the ICC Banking Commission published the ISBP, first in 2003 (ISBP 645), then in an updated form in 2007 (ISBP 681), and in a revised form […]
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Documentary credit-Pre-issuance considerations and requirements Pre-issuance considerations and requirements A documentary credit as the chosen method of settlement One of the key decisions to be made when a seller and buyer negotiate a sale contract is the selection of the terms of payment. When a documentary credit is chosen, both […]
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Special types of documentary credit Confirmed Irrevocable Documentary Credit A confirmation of an irrevocable documentary credit by a bank (the confirming bank) upon the authorization or request of the issuing bank constitutes a definite undertaking of the confirming bank, in addition to that of the issuing bank, provided that the […]
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Payment Methods in import and export transactions In import and export transactions, sellers and buyers do not necessarily know each other and are taking many more risks than in domestic trade. How can sellers ensure that they will be paid? Should the currency in which they will be paid drop […]
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Bank Financing Techniques to traders and manufacturers Financing Techniques Exporters, both traders and manufacturers, need finance before and after shipment of goods to the foreign buyers. In each of these phases (before and after), exporters need different types of financial assistance depending on the modes of payments contained in export contracts […]
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Scrutiny of Import documents Scrutiny of Import documents Following points should be carefully checked in respect of the relevant documents: (a) Forwarding schedule of the negotiating bank whether there is any discrepancy mentioned in it whether there is any special instruction that cannot be complied with whether there is any […]
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Asian Clearing Union (ACU) At A Glance Asian Clearing Union (ACU) At A Glance: Asian Clearing Union (ACU) is a payment arrangement whereby the participants settle payments for intra-regional transactions among the participating central banks on a net multilateral basis. The main objectives of the clearing union are to facilitate […]
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Islamic Banking Deposit Products Islamic Banking Deposit Products: Islamic banks receive deposits under two principles: i) Al-Wadeeah principle. ii) Mudaraba principle. Al-Wadeeah: The fund which is deposited with Banks by the depositors with clear permission to utilize/invest the same is called Al-Wadeeah. Islamic banks receive deposits in Current Accounts on […]
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Credit facilities to the exporters in Bangladesh What types of credit facilities are provided by the banks to the exporters in Bangladesh? Identify the steps a financial bank should take to address those risks: Export plays a dominant role in the economy of our country. In the export trade, the […]
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FAQ-International Monetary Fund (IMF) 1. What is the IMF’s mission and how has that changed over time? The International Monetary Fund (IMF) was created in 1944 to maintain the standard of fixed exchange rates that was established at the end of World War II. Since the abandonment of the gold standard in […]
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International Trade & Foreign Exchange-Banking Diploma Question THE INSTITUTE OF BANKERS, BANGLADESH (IBB) Banking Diploma Examination, July, 2019 DAIBB International Trade & Foreign Exchange (F E) Time—3 hours Full marks—100 Pass marks—5O [The figures in the right margin indicate full marks. Answer any four questions from group A and one […]
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Social Islami Bank Agent Banking BACKGROUND: Agent Banking provides banking and financial services to the underserved population through engaged agents under a valid agency agreement, rather than a teller/ cashier. Agent banking is a new concept in Banking Industry of Bangladesh though Agent banking is very popular in many countries (viz. Mexico, […]
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Top 10 Bank of Malaysia Top 10 Bank of Malaysia Maybank CIMB Bank Public Bank Berhad RHB Bank Hong Leong Bank AmBank Group United Overseas Bank (Malaysia) Bank Rakyat OCBC Bank (Malaysia) Berhad HSBC Bank Malaysia Berhad Maybank Maybank is the largest bank in the country in terms of total […]
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