Bill of exchange-definition, meaning, parties, Specimen Definition of Bill of exchange Bill of exchange-definition, meaning, parties, Specimen: “A bill of exchange is an instrument in writing containing an unconditional order, signed by the maker, directing a certain person to pay on demand or at fixed or determinable future time a certain sum of money only […]
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Baimuazzal (Export)-Export Financing by Islami Bank Baimuazzal (Export)-Export Financing by Islami Bank: It is a contract in which a client wishing to purchase raw materials, finished goods, commodities, spares, machinery, equipments or any other goods for request of the bank to procure the items and sell them to him at a price payable at […]
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Foreign Exchange Operation Export Financing by Islami Bank Exporter means any person lawfully exporting goods from Bangladesh to any other country. After shipment, the exporter has to tender the document to the bank within the stipulated period for the negotiation of the documents are drawn under a Letter of Credit. If require, finance the duty […]
Read MoreClearing House -Function, Procedure & Accounting Clearing House -Function, Procedure & Accounting: Clearing stands for mutual settlement of claims made in among member banks at an agreed time and place in respect of instruments drawn on each other. Clearing House is an arrangement under which member banks agree to meet, through their representatives, at appointed […]
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Importance of cash management in Bank Importance of cash management in Bank: Cash is a very important and sensitive item for day-to-day transaction of the Branches. Internal check, supervision and monitoring at different stages of cash handling is extremely necessary to avoid the incidents of thefts, fraud, forgeries, embezzlement and shortfall of cash. Adherence to […]
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CASH TRANSACTIONS REPORT (CTR) AND STR) CASH TRANSACTIONS REPORT (CTR) AND SUSPICIOUS TRANSACTION REPORT (STR) What is Money Laundering? On the basis of “Money Laundering Act 2002, Money Laundering” means Properties acquired or earned directly or indirectly through illegal means & Illegal transfer, conversion, concealment of location or assistance in the above act of properties […]
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SUBMISSION OF RETURNS OF FOREIGN EXCHANGE TRANSACTIONS SUBMISSION OF RETURNS OF FOREIGN EXCHANGE TRANSACTIONS TO BANGLADESH BANK: 1. Authorized Dealers being responsible for dealings in foreign exchange are required to keep proper records. It is also a requirement that they submit to the Bangladesh Bank prescribed periodic returns and statements of all foreign exchange transactions […]
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How to recovery classified Investment Recovery of Classified Investment Discipline in the investment portfolio of the branches must be maintained at any cost. Investment circulars/instruction/procedures and norms should always be meticulously followed. Discretionary powers must not be violated. Without maintaining the investment sanctioning discipline, the clients can cheat with the bank and the investment may […]
Read MoreExport Financing: Problems and precaution measures Export Financing: Problems and precaution measures: Export finance is extended to the exporters in order to assist the exporters to make shipment of the goods as required by the foreign buyers. This facility is allowed against L/C or Buyers & sellers Contract. This finance is encouraged by the government to […]
Read MoreBasel II background and Risks relate to Banking Activities Basel –II & its background: Basel II background and Risks relate to Banking Activities Basel –II framework was finalized in 2004 & it states that bank should maintain capital not only covering Credit Risk but also covering Market Risk & Operational Risk. Here RWA should be […]
Read MoreHOLDER IN DUE COURSE AND PAYMENT IN DUE COURSE HOLDER IN DUE COURSE AND PAYMENT IN DUE COURSE: A negotiable instrument is transferable from person to person. The Negotiable Instrument Act confers upon the person, who acquired it bona fide and for value, the right to possess good title to the instrument. Such person is […]
Read MoreExport Credit Guarantee Schemes in Bangladesh Today, no country in the World is self-sufficient. So, every country has to import various goods and services from other countries to meet its requirements. But, much foreign exchange is required to pay the import bills. This has resulted in a cut-throat competition among the countries of the World […]
Read MoreSalient features of Islamic banking Concepts of Islamic Banking, Historical and Its Objective In the late seventies and early eighties, Muslim countries were awoken by the emergence of Islami Bank which provided interest-free banking facilities. There are currently more than 300 interest-free institutions all over the world. Islam Bank nowadays not only operates in àlmost […]
Read MoreInternational Association of Islamic Banks (IAIB) International Association of Islamic Banks (IAIB) The International Association of Islamic Banks (IAIB), was established as a technical advisory institution for Islamic banks which began to grow up and spread all over the world as a reflection of the intent of the Muslims at community as well as national […]
Read MoreThe Accounting Standards for Islamic Banks The Accounting Standards for Islamic Banks are prepared by the ‘Accounting and Auditing Organization for Islamic Financial Institutions. (AAOIFI), which was established in accordance with the agreements signed by Islamic Financial Institutions on 26 February 1990 in Algiers during the meeting of Islamic Banks and Financial Institutions. AAOIFI was […]
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