What conditions should be fulfilled to exercise the right of set-off What conditions should be fulfilled to exercise the right of set-off? It is s statutory right which enables a banker to combine two accounts in the name of the same customer and to adjust the debit balance in one account with the […]
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Step by Step Export Procedure
Step by Step Export Procedure Procedure of Export from Exporter side: To open an account with a Bank. To be collect ERC (Export Registration Certificate) from CCI & E. To collect TIN from Bangladesh Revenue Board. To collect Export L/C / Transferable Export L/C. To submit the Export L/C / […]
Read moreDue diligence-In good faith and without negligence
Due diligence-In good faith and without negligence What is ‘Due Diligence?’ Due diligence has become a buzz word in the recent times. Due diligence has been used since at least the mid-fifteenth century in the literal sense “Requisite Effort.” Centuries later, the phrase developed a series of meanings in different […]
Read moreCash Transactions Report (CTR) And Suspicious Transaction Report (STR)
Cash Transactions Report (CTR) And Suspicious Transaction Report (STR) Recognition of Suspicious Transactions As types of transactions that may be used by money launderer are almost unlimited, it is difficult to define a suspicious transaction. Suspicion is personal and subjective and falls far short of proof based on firm evidence. […]
Read moreCitigroup Inc information -Financial Service corporation
Citigroup Inc information -Financial Service Corporation Citigroup Inc information -Financial Service corporation Citigroup Inc. or Citi is an American multinational financial services corporation. Its headquarter is in Manhattan, New York City, New York, United States. Citigroup was formed from one of the world’s largest mergers in history by combining the […]
Read moreCity Double Loan
City Double Loan Info Loans DPS Cards Accounts Services Name City Double Loan Category Secured Loan Description City Double is a unique loan facility where your fixed deposit in City Bank or in any other financial institution will now allow you to avail two loans […]
Read moreDefinition of a Customer
Definition of a Customer The term “customer” of a bank has not been defined by any law. According to Sir John Paget, “to constitute a çustomer there must some recognisable course or habit of dealing in the nature of regular banking business”. Customer: According to this view, to constitute a customer of a bank, […]
Read more7 C’s of Communication
7 C’s of Communication The 7 C’s of Communication is a checklist that helps to improve the professional communication skills and increases the chance that the message will be understood in exactly the same way as it was intended. To have effective communication, one should keep the following 7 C’s […]
Read moreInternational Trade and Foreign Exchange
International Trade and Foreign Exchange – By Anwarul Haque Qureshi The importance of international trade in the economy of a country is too well known to need emphasis. A number of advantages flow from international trade. Many developing nations of the world owe their hopes of development on it. A […]
Read moreFUNCTIONS OF FOREIGN EXCHANGE
FUNCTIONS OF FOREIGN EXCHANGE – By Anwarul Haque Qureshi Commercials Banks have a vital role in the foreign trade of a country. They provide the finance needed to execute the transactions. They from the conduit pipe through which the documents and money are exchanged between the exporter and importer. They […]
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Bahrain Financing Company -(BFC)
Bahrain Financing Company (BFC) Bahrain Financing Company (BFC) is the leading Money Transfer and Currency Exchange company in the Kingdom of Bahrain. Whether you’re sending money home to your loved ones or going on holiday and need foreign currency, we have your Money Transfer and Currency Exchange needs covered. […]
Read moreForeign Exchange Regulation Act 1947
Foreign Exchange Regulation Act 1947 Foreign Exchange Regulation Act 1947: There is an elaborate machinery to effectively operate the exchange control and regulation in the country. The machinery comprises the authorities empowered to regulate foreign exchange transactions and to enforce the provisions of Foreign Exchange Regulation Act and to deal with […]
Read moreURR 725 and issuance of Reimbursement Authorisation, URC 522: Collection of Bills (Clean & Documentary)
URR 725 and issuance of Reimbursement Authorisation, URC 522: Collection of Bills (Clean & Documentary) Uniform Rules for Bank-to-Bank Reimbursements under Documentary Credit -URR 725 New Publication Number 725 to become effective October 1, 2008 Background to URR: The Uniform Rules for Bank-to-Bank Reimbursements (“URR”) were first published by ICC […]
Read moreFactors influencing Foreign Direct Investment
Factors influencing Foreign Direct Investment Factors influencing Foreign Direct Investment in a Country Foreign Direct Investors look into various factors before making investment decision in a country. After 1990, in India, the government adopted a New Economic Policy which promoted the policy of LPG (Liberalization, Privatization and Globalization). This has […]
Read moreForeign Exchange Regulation Act 1947, Guidelines of Foreign Exchange Transactions
Foreign Exchange Regulation Act 1947, Guidelines of Foreign Exchange Transactions What is Foreign Exchange? Foreign exchange is the conversion or exchange of one country’s currency into another currency. Foreign exchange also refers to the global market where currencies are traded virtually around-the-clock. The term foreign exchange is usually abbreviated as […]
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