Bank Draft Introduction : Banks remit funds from one place to another through the network of their branches. The main instrument for remittance of funds are bank drafts, mail transfer, telegraphic transfer and traveller’s cheques. Here, we will focus are attention on features and operational aspects of bank draft. Definition […]
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Clearing
Clearing Clearing is the process of collection of proceeds of instruments of different banks by a collecting bank through some systematic procedures with the involvement of Central Bank. Types of instruments: Cheques (CD, SB, Loan) Demand Draft Payment Order Others Related Terms: Crossing Clearing Stamp Endorsement Clearing […]
Read moreGlobal Express Money Remittance
Global Express Money Remittance Global Express Money Remittance (GEMR) is a remittance company that which serving in the UK of Filipino society and across other Euro zone countries. The company owners are 28 years professional experience and legitimate remittance and banking personnel both in Asia and Europe. Their […]
Read morebKash
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 […]
Read moreRegistered Investment Advisor RIA
Registered Investment Advisor RIA RIA means Registered Investment Advisor. Ria offers the advice and guidance you need.Ria is the third largest money transfer company all over the world. It provides their service through 207,000 global agent network locations in 135 countries of global village.It was founded in 1987. Ria offers […]
Read moreXpressMoney
XpressMoney XpressMoney is a global money transfer branded company in—. It provides money transfer service Over the last 13 years which is convenient, affordable, accessible and secure form. At present XpressMoney is an international money transfer provider company. They serve more than 55,000 customers everyday all over the world. Their […]
Read morePre-Shipment Inspection (PSI)
Pre-Shipment Inspection (PSI) Legal Framework: Pre-shipment Inspection Rules – 2002 (SRO No. – 255-AIN/2002/1973/Shulka, Dated 19-09-2002 which replaces Pre-Shipment Inspection Order – 1999, Dated 19-10-1999) Amendment of Pre-shipment Inspection Rules–2002 (SRO No. 38-AIN/2008/2188/Shulka, Dated 05-06-2008) Circular regarding exemption from mandatory pre-shipment inspection (SRO No. 193-AIN/2010/2311/Shulka, Dated 10.06.2010) Customs Act-1969 Import […]
Read moreSWIFT at a glance
SWIFT at a glance SWIFT HISTORY > Increase in International trade and commerce after World War-II > Efficient Banking System for payment mechanism with Security, Reliability and Confidentiality was needed. > Computer and Telecommunication technology came to rescue > Co-operative organization SWIFT was born SWIFT is the industry-owned co-operative […]
Read morePrime Bank Internet Banking
Prime Bank Internet Banking Internet banking is helpful for all users. Nowadays all customers are prefer internet banking. Considering customers requirements Prime Bank offered real-time internet banking . Just click to do bank transactions wherever you are, anytime you want. It is safe and convenient to access your account 24/7. […]
Read moreHow to use the Export Development Fund
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 & […]
Read moreStep of Letter of Credit Opening
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 […]
Read moreDiscrepancies of Letter of Credit
Discrepancies of Letter of Credit Common discrepancies in the export documents Claused/unclean/foul/dirty Bill of Lading. Charte–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 deck […]
Read moreWhat is Outward Remittance?
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 […]
Read moreWhat is Foreign Remittance?
What is Foreign Remittance? Definition: Remittance represents transfer of fund from one place to another through official channel. Foreign Remittance: Foreign Remittance refers remittance of Foreign currency that are received in and made out abroad. Foreign Remittance also includes purchase and sale of freely convertible foreign bills and currencies. Types: […]
Read moreSecurities company of Bangladesh
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 : [email protected] A.B.S. SAFDAR & CO. LTD. Rep: Dr. A.M.B […]
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