Provision of Foreign Exchange Services: A Study on United Commercial Bank Limited

Abstract

This internship report “Provision of Foreign Exchange Services of United Commercial Bank Limited” is really supported by the knowledge and skills gathered from the internship period at foreign exchange department United Commercial Bank Limited, Elephant Road Branch Dhaka. The objectives of this subject are to analyze the general banking services provided by this bank and also to evaluate the mechanism of providing foreign exchange services provided by United Commercial Bank limited. The report uses knowledge both from primary and secondary sources. To collect the primary data for this report I even have interacted with individuals and had face to face interaction with the senior bankers. Secondary data were acquired from the annual reports of the bank, and internet sites of the banks and relevant magazines, books. The employees of United Commercial Bank Limited are serious regarding their works. They maintain a protocol to ascertain a good relationship with existing clients and new clients. This report focuses on foreign exchange services provided by the United Commercial Bank Limited and its overall procedure of trade. The United Commercial Bank Limited emerged as a commercial bank and launched its operation in mid-1983. The bank has 187 branches everywhere the country up to 2019. The first one month I worked general Banking Division. In the second month, I worked in the foreign exchange department. I also learned different types of LC, LC opening, payments technique, Bank grantee register, LCF forms and gain a clear idea about the export and import method. The details of the mechanism of providing the foreign exchange services to the clients are reported in this report with due clarity.