Analysis of Foreign Remittances of Social Islami Bank Limited

Abstract

The objective of my report is to analyze the characteristics of foreign remittances of Social Islami Bank Limited (SIBL) over the period of 2014-2018. I intended to analyze the remittances on the basis of different dimensions like country origin, geographic proximity etc. Understanding the remittance flows has been a key issue to the fund low system of the financial institutions as well as for the whole economy. Social Islami Bank is one of the Shariah based islami banks in Bangladesh performing in the industry since 1995. Remittance flows has a crucial role to channelize the funds to economy through the formal banking sector. This has prompted me to initiate the present study on remittances and its significance for the SIBL performances.

From the analysis of report I found that Social Islami Bank earns highest growth in receiving remittances on geographic framework which is coming from Dhaka region and the growth rate is 27 percent. This rate is lowest for Barisal region which is only 6 percent. On the other hand, country wise classification of remittance flows indicate that the maximum growth rate of remittance business inflows of SIBL coming from USA followed by United Arab Emirates and Malaysia.