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1.0: Introduction:
Banking sector owes a pivotal importance in the economy of any country through its vibrant
functions. This is the deep seated motivator that geared up me to join any bank for internship.
Moreover, the carry out and familiarity learned during this tenure would also attest very helpful
and alleviating in the awaiting proficient life.
This report is an upshot of my 3 months internship in Shahjalal Islamic Bank, Gulshan South
Avenue Branch,Dhaka-Bangladesh. Shahjalal Islamic Bank posses an imperative importance in
the banking sector of Bangladesh. It always remains the center of hustles in business activities. It
always endows with great covenant of rally round in terms of funds and services at all epochs of
its dynamism.
Although, a derisory period of 3 months is not enough to learn the complex operations of
Shahjalal Islamic Bank Limited yet I made industrious efforts to converse them comprehensively
in this report. Particularly, I have remunerated more accents on study of distinguishing features
and services of Shahjalal Islamic Bank Limited. I have made maximum venture to elaborate this
report with the material read, listened and observed.
I have strong belief that this report will guide and ease the readers to understand the operations
of banking system and more prominently have good knowledge about Shahjalal Islamic Bank,
one of the most faithful and leading banks in Bangladesh.
Dear readers, I hope that you will appreciate my report and sense that reading my report is not
like to waste the time in any respect.
Shahjalal Islami Bank Limited (SJIBL) commenced its commercial operation in accordance with
principle of Islamic Shariah on the 10th May 2001 under the Bank Companies Act, 1991. During
last nine years SJIBL has diversified its service coverage by opening new branches at different
strategically important locations across the country offering various service products both
investment & deposit. Islamic Banking, in essence, is not only INTEREST-FREE banking
business, it carries deal wise business product thereby generating real income and thus boosting
GDP of the economy.
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Shahjalal Islami Bank Limited (SJIBL) is named from the name of a saint Hajrat Shahjalal who
dedicated his life for the cause of peace in this world and hereafter and served the humanity. The
prime objective of Shahjalal Islami Bank is to serve the people for attainment of their economic
goal and success in life here and hereafter. Shahjalal Islami Bank Limited stands not only for
material well-being but also for ethical development of its customers. The Government of
Bangladesh has licensed Shahjalal Islami Bank Ltd. (SJIBL) as a private commercial bank,
which is focused on the established and emerging markets of Bangladesh. The bank was
incorporated in Bangladesh as a public limited company on April 01, 2001 under company Act
1994, and started banking operations through the Dhaka Main Branch at 58 Dilkusha C/A,
Dhaka-1000 on May 10, 2001. The Bank is operating its business according to maintain all the
rules and regulations that the Government of Bangladesh imposed for sound performance in the
Banking Industry.
The bank follows the Companies Act, Bank Companies Act, Negotiable Instrument Act, Foreign
Exchange Regulation Act and so on which purpose to operate in business with proper manner
and provide maximum quality services to its clients and make a significant contribution to the
development of the country.
Shahjalal Islami Bank Limited (SJIBL) is an Industry Standard, Islamic Shariah & latest
technology based Modern Bank. To materialize the vision of the bank through introduction of
modern ITcbasedproducts, the Bank is going to implement its Core Banking solution 'Bank
Ultimus'. In this connection, the Bank is going to establish a modern Data Center at Uday Sanz
(2nd floor), 2B South Avenue Gulshan-1, Dhaka.
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SJIBL hereby Invites sealed bids .for various items for its proposed Data Center from the
eligible companies. All terms and conditions are written in tender schedule. The tender schedule
will be available from Head Office, IT DIvision, 58 Dllkusha CIA (6th floor), Dhaka-1000 from
10:00 a.m. to 3:00 p.m. on all working days betWeen18th February,2010 to 28th February 2010.
The schedule will comprise Master Schedule and Annexure of different groups of items such as
Group1: Data center physical Infrastructure , Group2 : Generator, Group3 : Servers & Server
Racks, Group4 : Storage, Group5 : Network Devices & Racks , Group6 : Structured Network
Cabling , Group7 : Software , Group8 WAN Connnectivity.
The Schedule will be available on payment of Tk. 10,000.00 only (nonrefundable) for each group
through Payment Order in favor of Shahjalal Islami Bank Limited from any scheduled Bank. A
pre-bid meeting with the participating vendors will be held on 28th February 2010 3:30 PM at
the above address and the amended clauses (if any) will be provided to the participating vendors
on 2nd March 2010. The offers will be received up to 3:00 p.m. on 7th March 2010 at the above
address and the tender box will be opened at 3:30 p.m. on the same day in front of the
bidders (if any present). The bidders intending to participate more than one group have to buy
multiple schedules for each group. The Bank reserves the right to accept or reject any or all of
the offers in full or part without assigning any reason whatsoever. The Bank shall not be under
any obligation to accept the lowest quotation. Vice President IT Division
management which are part of general banking according to the principles of Islamic Shariah.
Islamic banking is a new diminution of interest free banking where Riba or interest is strictly
prohibited. So I have tried to represent their performance and problems and prospects on the
ground of general banking.
Broad objective
Specific objective
The general objective of this report is to complete the internship reportt. As per
requirement of BBA program of Cambrian College, one student needs to work in a
business organization for three months to acquire practical knowledge about actual
Business operation.
To suggest remedial measurement for the improvement of the whole process of the
General Banking .
The report will illustrate a basic reflection about the Shahjalal Islami Bank Limited
present condition of the bank in private banking sector, various schemes of SJIBL,
interest rate and activities.Since I am working in the Shahjalal Islami Bank Limited,
Gulshan,South-Avenue Branch, I get the opportunity to gain knowledge of different part
of banking system.
ii.
iii.
iv.
v.
The employees of the bank are so much busy so they cannot provide me to give
information about the General Banking Department such as different types of
loans and advances.
I have no proper experience to do this kind of report. So, inexperience creates obstacle to follow
the systematic and logical research methodology
may have in these sectors & bank may earn more by improving the services of the said two
sectors.
On the above ground it can be justified to perform an internship report on General Banking &
Credit Management functions of a private commercial bank, if one intends or assigned by the
authority.
1.3.3: Methodology:
The report would be based on an exploratory research paper. Throughout the report, different
type of research method shall be used to find out proper and correct information and also provide
a good report.
For preparing this report I will basically use my experience from different department of the
Shahjalal Islami Bank Limited. And I will also use some official documents provided by the
officers. For adding more value to this report I will use some books or lecture specialized on the
banking sectors.
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Secondary sources:
Different websites.
Internal Records.
Internal
Sources:
Companys
Annual
Report,
Company
web
site
The bank has already ranked as one of the quality service providers & is known for its
reputation. Offers the full range of banking services for personal and corporate customers,
covering all segments of society within the framework of Banking Company Act and rules and
regulations laid down by our central bank.
All activities of the Bank including its products and services are mainly for different economic
groups of Bangladesh at home & abroad. Bangladeshi expatriates living abroad in different
countries form a strong economic group who contribute greatly towards the economic
development of the country.
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1.4.1: Objective
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To conduct interest-free and welfare oriented banking business based on Islamic Shariah.
To implement and materialize the economic and financial principles of Islam in the
banking arena.
To remain one of the best banks in Bangladesh in terms of profitability and assets quality.
To develop and retain a quality work force through an effective Human Resources
Management System.
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Senior Vice President (SVP)
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Officer
amount of import is expected to reach Tk. 55 billion during the ongoing year from Tk. 39.54
billion in 2010 while the export is expected to grow by 44.39 per cent to reach Tk. 42.50 billion.
"So far, we are quite on track to reach our target for the year", the SJIBL MD said, "as until
April, we have attained 93 percent of our targeted month wise core deposit".
"At the same time, our month wise net investment is 96 per cent of what we have targeted while
the figure for import and export stood at 97 and 89 per cent of our target", he added.
According to official figures, the Tier-1 capital of the bank as on April 30, 2011 stood at Tk. 5.16
billion while the total equity amounted to Tk. 5.99 billion.
The bank will also strengthen its IT base to increase the productivity and operational efficiency,
the MD said.
Account facility and margin facility to its customers to invest in the secondary markets.
Diversified products with different category of investment ceiling and other value added services
are also available for customers. The customers were also provided with assisted services
facilities on the basis of published information and accounts. The division managed portfolio
value of more than 833 million under margin accounts. As a result, profitability of CMSD shown
significant positive trend during 2009. Divisional contribution was 2.21% percent to total
operating profit before Provision and taxes of the Bank. The Bank has established a well
decorated and highly technology based trading facilities for the connivance of the customers.
1. Board of Directors.
2. Board Committee.
3. Executive Committee.
4. Policy Committee.
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2.0.0:Management of SJIBL:
The Board of Directors consists of eminent personalities from commerce and industry of the
country. Mr. Sajjatuz Jumma, the founder Chairman of the Board of Directors, is a
businessman besides being an eminent personality of the country.
The Bank is manned and managed by highly qualified and efficient professionals. The Managing
Director of the Bank is Mr. Muhammad Ali who has rich experience of managing both the
nationalized and the private sector banks as Managing Director.
BOARD COMMITTEES
OF
SJIBL:
Board of Directors who also decides the composition of each committee determines the
responsibilities of each committee. EXECUTIVES COMMITTEES
OF
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beyond delegated powers of management are decided by or routed through the Executives
Committee, subject to rectification by the Board of Directors.
Board of Directors
Sponsors
Managing Director
Deputy Managing
Director
Deputy Managing
Director
Executive Vice President/
Company Secretary
Vice President
Senior Asst. Vice
President
Asst. Vice President
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Vice Chairman
Chairman
Director
Abbreviations:
Vice Chairman
Director
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Director
Director
Director
Director
Director
Director
Director
Director
Director
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Director
Director
Director
Director
Independent Director
Managing Director
Sponsors
Company Secretary
Number of Branch
35
13
5
3
6
1
Total Branch 63
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Faruq Rupayan
Tower (2nd Flr), 32, Kemal Ataturk
Avenur, Banani, Dhaka 1212
Phone: 8822801, 8828740 Fax:
88-02-8826005
sblbanani@shahjalalbank.com.bd
215/1,
Bangshal, Dhaka-1100 Phone: 029552922, 7172901, 7112622 Fax:
02-7172910
sblbangshal@shahjalalbank.com.
bd Opened on: 7 Dec, 2005
Barachowna Bazar
PS:Shakhipur Dist.: Tangail
sblbarachowna@shahjalalbank.co
m.bd Opened on: 19 Nov, 2009
Sr. Executive Officer
Baruakhali High
School Market (1st Floor), P.S.:
Nababganj, P.O.: Baruakhali,
Dhaka Phone: 03894552598,
01712271777 Fax: 03894552598
sblbaruakhali@shahjalalbank.com
.bd
Opened on: 19 Jul, 2009
8. Bijoy Nogar Branch Mr. Md. Asadul Islam
Anisur Rahman JAVP
58 Dilkusha
C/A, Dhaka-1000 Phone: 029570795-8, 9570805 Fax: 029556011
sblmain@shahjalalbank.com.bd
Sr. Executive Vice President
Momtaz
Plaza (1st Floor), House 07,
Road 04, Dhanmondi R/A, Dhaka
1205 Phone: 9665766,
9665767, 8620592, 8621624 Fax:
02-9665768
sbldhan@shahjalalbank.com.bd
Vice President
110, Thana
Road (2nd & 3rd Floor), Faridpur
Phone: 0631-67156, PABX: 063167155 Fax: 0631-67154
sblfaridpur@shahjalalbank.com.b
d
First Assistant Vice President
Modern Mansion
(1st floor), 53 Motijheel C/A,
Dhaka-1000 Phone: 02-71603323, 7160330 Fax: 02-7160331
sblfex@shahjalalbank.com.bd
Executive Vice President
40/5, North
Avenue, Gulshan-2, Dhaka-1212
Phone: 02-9890520-1, 9893454,
9890322 Fax: 02-9893008
sblgul@shahjalalbank.com.bd
Uday
Sanz, Plot No. SE (A),2/B Gulshan
South Avenue, Gulshan-1, Dhaka
Phone: +8802-8819029 PABX:
8827427
sblgsa@shahjalalbank.com.bd
Opened on: 20 Jun, 2010
T K Bhaban,
13 Kazi Nazrul Islam Avenue,
Kawran Bazar, Dhaka Phone: 029114044 , 9122396 Fax: 029126604
sblkawran@shahjalalbank.com.bd
Ma
Plaza (1st Floor), Shohid Nogar,
Karanigonj, Dhaka Phone:
7762291, 7762293-4 Fax: 88-027762292
sblkerani@shahjalalbank.com.bd
Opened on: 17 Sep, 2008
Vice President
Vice President
Karim
Chamber, 99, Motijheel C/A,
Dhaka 1000 Phone: 9563156,
9562763, 9564029 Fax: 88-029564029
sblmjheel@shahjalalbank.com.bd
Osman
Tower, 56/1, S.M. Maleh Road,
Narayangonj Phone: 7635172 Fax:
88-02-7635173
sblngonj@shahjalalbank.com.bd
Karim Sr. Assistant Vice President
Vice President
Bismillah
Super Market, 71/1 and 72/1,
Bazar Road, Savar, Dhaka Phone:
7742894-5 Fax: 88-02-7742893
sblsavar@shahjalalbank.com.bd
Executive Officer
Khuda Buksh
Foundation (1st Flr.), Road No.
11/A, House No. 99, Dhanmondi,
Dhaka 1209 Phone: 9129848,
9127931, 9137780 Fax: 88-029129848
sblsmr@shahjalalbank.com.bd
Nirala Complex
(2nd & 3rd Floor), Par Dihgulia,
Tangail
sbltangail@shahjalalbank.com.bd
Opened on: 27 Dec, 2010
Rupali Plaza,
Holding No. 24, Anarkoli Road,
Tongi Bazar, Tongi, Gazipur Phone:
98173913, PABX: 9817391-2 Fax:
98173914
sbltongi@shahjalalbank.com.bd
Opened
on: Branch
24 Oct, 2010
35. Vatara
Mr. M. Imam Hossain Gazi Sr.
Anwer
Complex, House # 12, Road #
14/C, Sector # 4, Uttara Model
Town, Dhaka-1230. Phone: 028932084,8923586 Fax: 028923586
sbluttara@shahjalalbank.com.bd
311, Progoti
Sarani, Nayanogor, Baridhara,
Badda, Dhaka Phone: 88-028412672, 88-02-8412649 Fax: 8802-8840188
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sblbhatara@shahjalalbank.com.bd
Assistant Vice President
Vice President
2 Chawkbazar, Kapashgola
Road, Chittagong Phone: 01711-393124
sblchawkbazar@shahjalalbank.com.bd
Executive Officer
President
Salahuddin
A. B. Super Market (1st Floor), 145
Complex(1st & 2nd Floor), Monohorpur,
Laldighirpar, Cox's Bazar Phone: 01819Chowmuhoni, Laksam Road, Comilla
805238
Phone: Direct: 081-61655, PABX: 081sblcox'sbazar@shahjalalbank.com.bd
61645 Fax: 081-61645 www.AssignmentPoint.com
Opened on: 29 Dec, 2009
sblcomilla@shahjalalbank.com.bd
Assistant Vice President
President
85, Muradpur,
Chittagong Phone: 031-2552589-91
Fax: 031-2552592
sblmuradpur@shahjalalbank.com.bd
B. A. Center (1st
floor), Nazirhat, Fatikchhari,
Chittagong Phone: 01819-649438
sblnazirhat@shahjalalbank.com.bd
City
Centre Bhaban 1st floor, Beanibazar
Market, Beanibazar, Sylhet Phone:
03799-287242 Fax: 08223-87870
sblbeani@shahjalalbank.com.bd
297
Amberkhana, Dargah Gate, Airport
Road, Sylhet Phone: 0821-814222
Fax: 0821-814277
sbldargah@shahjalalbank.com.bd
Opened on: 19 Dec, 2004
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Afjal
Mansion(1st Floor), JL No: 78, Goala
Bazar, P.O.: Goala Bazar, P.S.: Osmani
Nagor, Sylhet Phone: Direct: 0824256307, PABX: 08242-56304 Fax:
08242-56238
sblgoalabazar@shahjalalbank.com.bd
President
Phone: 0421-64641
sbljessore@shahjalalbank.com.bd
Opened on: 8 Oct, 2008
2. Dinajpur Branch
Jr.Assistant Vice President
Holding No. 887/848, Gonesh Tola,
Kotoali, Dinajpur
sbldinajpur@shahjalalbank.com.bd
open on: 14 Dec, 2010
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President
Habib Plaza
(1st Floor), Holding # 111 Shaheb
Bazar, Zero Point, Rajshahi Phone:
0721-772401 Fax: 0721-772427
sblrajshahi@shahjalalbank.com.bd
Opened on: 5 Nov, 2008
Vice President
Saidpur Plaza(1st
Floor), Sere Bangla Road Saidpur,
Nilphamari Phone: 0552673025 Fax:
0552673026
sblsaidpur@shahjalalbank.com.bd
Opened on: 11 Aug, 2008
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ATM Outlet
SJIBL ATM
Free
Q-Cash Network
Tk.10.00
Tk.20.00
Tk.20.00
Tk.25.00
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Commencement of Business
Head Office
Exchange Limited.
10th May 2001
Uday Sanz, Plot No. SE (A)
2/B Gulshan South Avenue,
Telephone No.
Fax No.
Website
SWIFT
E-mail
Chairman
Managing Director
Auditors
Gulshan 1, Dhaka-1212.
88-02-8825457,8828142,8824736,8819385,8818737
88-02-8824009
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SJBL BD DH
sblho@shahjalalbank.com.bd
Alhaj Mohammed Solaiman
Md. Abdur Rahman Sarker
M/S. Syful Shamsul Alam & Co.
Chartered Accountants
Paramount Heights
65/2/1 Box Culvert Road (level-6)
Purana Paltan, Dhaka-1000
Tax Advisor
Legal Advisor
No. of Branches
No. of ATM Booth
No. of SME Centers
Off-Shore banking Unit
No. of Employees
Stock Summary:
Authorized Capital
Paid up Capital
Face Value per Share
2.7.0
: Services of SJIBL
Islamic banking has been defined as banking in consonance with the ethos and value system of
Islam and governed, in addition to the conventional good governance and risk management rules,
by the principles laid down by Islamic Shariah. Interest free banking is a narrow concept
denoting a number of banking instruments or operations, which avoid interest. Islamic banking,
the more general term is expected not only to avoid interest-based transactions, prohibited in the
Islamic Shariah, but also to avoid unethical practices and participate actively in achieving the
goals and objectives of an Islamic economy.
Non-cheque-based Account
Mudaraba Term Deposits
Mudaraba Double/Triple Benefit Scheme
Mudaraba Monthly Deposit Scheme ( 5, 8 , 10 years )
Mudaraba Lakhapoti Deposit Scheme (3, 5, 8, 10 years)
Mudaraba Millionaire Deposit Scheme (12, 15, 25 years terms)
Mudaraba Hajj Deposit Scheme ( 1 to 25 years terms )
Mudaraba Housing Deposit Scheme
Mudaraba Cash waqf Deposit Scheme
Monthly Income
Mudaraba marriage Deposit Scheme
Mudaraba Education Deposit scheme
Mudaraba mohor Deposit Scheme
Mudaraba Special Term Deposit
Musharaka
Mudaraba
Murabaha
Bi-Muzzal
HPSM
HPSM-HHD Scheme
HPSM- (staff)
Ijara
Bai-Salam
Istisnaa
Muqawala
Quard-e-Hasana
Inland Doc. Bills Purchased
Foreign Doc. Bills Purchased
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Tk.2,041 million. The Bank handled total Inward Foreign Remittance of Tk.10,473
million in the year 2010.
Total Deposit
47,459
Total Investment
43,958
Total Income
7,117
Total Expenditure
5,076
2,041
10,473
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2.8.2: Deposit:
Deposit is the life- blood of a bank. Bank has given utmost importance in
mobilization of deposit introducing a few popular and innovative schemes. The mobilized
deposits were ploughed back in economic activities through profitable and safe investments:
Monthly Deposit Scheme (MDS)
Millionaire Scheme (MS)
Monthly Income Scheme (MIS)
Double Benefit Scheme
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Nature of Deposit
Taka in Million
Percentage of
total deposit
169.95
3.39%
3,072.78
6.47%
1,886.96
3.98%
Mudaraba Savings
Deposit
Mudaraba Short Notice
Deposit
Mudaraba Term Deposit
27,578.74
58.11%
Deposit in Scheme
10,602.78
22.34%
Other Deposit
2,708.02
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Total Deposit
47,459.23
5.71%
100%
registering 34.12% growth over last year, which was 83.46% of the total income
against 83.80% of 2009.
Non- Investment Income: Total Non investment income of the bank as at 31st
December 2010 was Tk. 1,177.14 million as against Tk. 856.49 million of the
preceding year registering 37.44% growth over last year, which was 16.54% of the
total income compared to 16.20% of 2009.
B) Expenditure:
Profit on Deposits: Bank distributed profit of Tk. 4,200.28.40million among the
Mudaraba Depositors in the year 2010 against Tk. 2,962.40 million in the year 2009
which is 70.71% of the Investment income earned from deployment fund of which
was 66.89% in 2009. Deposit expense was 82.75% of total expenditure in 2010
against 85.23% of 2009.
Operating profit: During 2010, the bank earned an amount of Tk. 7,117.04 million
and spent an amount of Tk. 5,075.88 million, resulting a total operating profit of Tk.
2,041.16 million which increased by Tk. 231.36 million, i.e 12.78%over 2009. From
the operating profit Tk. 205.00 million was kept as provision for investment, Tk.
40.00 million provision kept for off-balance sheets, Tk. 1.00 million provision kept
for other assets and then profit before tax stood at Tk. 1,795.16 million and deducting
income taxes of Tk. 724.60 million Net Profit after taxation stood at Tk. 1,070.56
million, net profit of 2010 increased by Tk. 252.86 million, i.e. 30.92% from Tk.
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817.71 million of 2009. As appropriation of net profit Tk. 359.03 million transferred
to statutory reserve as per bank company Act. 1991 and Remaining Tk. 711.53
million was transferred to retained earnings.
A
Particulars
2010
2009
Total Income
7,117.04
5,285.39
5,075.88
3,475.59
2,041.16
1,809.80
246.00
244.00
1,795.16
1,565.80
724.60
748.09
1,070.56
817.71
Appropriation:
2009
2010
Statutory Reserve
359.03
313.16
Retained Earnings
711.53
504.55
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2.8.5: Dividend:
The board of directors of the bank has recommended stock dividend @ 25% i.e. to
issue 25 bonus shares as against 100 shares to its shareholders for the year 2010.
Particulars
Jun-11
Jun-10
Authorized Capital
600.00
400.00
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Growth
Percentage (%)
50.00
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
Paid-Up Capital
Required Capital
Capital Maintained (a+b)
a) Core Capital
b) Supplementary Capital
Capital Adequacy Ratio
(In June 2010 as Basel II)
Total Deposit
Investment
Investment - Deposit Ratio
Classified Investment
Required Provision for Investment
Provision Maintained against Investment
Excess Provision
Amount of provision against Off-Balance
Sheet
Amount of provision against Off-Balance
Sheet
Amount of provision against Off-Balance
Sheet
Operating Profit
Net Profit
Earning Per Share
Net Asset Value per Share
Import
Export
Foreign Remittance
Total Foreign Exchange Business
(20+21+22)
Total Assets
No. of Employees
No. of Branchs
No. of Foreign Correspondent
600.00
600.00
647.42
647.42
90.40
9.43%
274.01
343.28
449.39
396.67
52.72
13.73%
25.00
59.91
44.07
40.42
71.47
5,444.70
5,239.13
96.22%
65.80
62.56
67.85
5.29
21.80
4,228.61
3,761.33
88.95%
17.58
42.25
43.90
1.65
12.35
28.76
39.29
1.26%
0.47%
1.03%
0.37%
162.01
89.42
26.11
169.95
2,526.26
1,914.43
293.56
4,734.25
81.56
36.13
10.55
144.77
1,695.99
1,339.51
359.66
3,395.16
98.64
147.50
147.49
17.39
48.95
42.92
-18.38
39.44
6,754.38
1485
52
600
5,268.43
1,152
35
600
28.20
28.91
48.57
274.29
48.07
54.56
220.61
76.52
Shahjalal Islami Bank is an Industry Standard, Islamic Shariah & Latest technology
based modern bank. The bank is equipped with state-of-the-art technology and committed to
provide technology based modern banking solutions to its valued customers.
On Line Banking:
To provide better services to the valued customers using the latest technology and
electronic media competing with other private banks to set and establish full automated, on-line,
centralized banking systems interfacing (connecting software) with all delivery channels. Like:
ATMs (Automated Teller Machine), POS (point of sale-Fund transfer machine for purchasing at
any shop/service center etc.) Any branch banking, home banking, tele banking, Internet banking
etc. online banking/ any branch banking is a system where transactions, query and system where
transactions, query and statements of any client of a certain branch may be carried out from
another branch of the bank.
Card is considered as a new dimension of product resulting from technological development in the
banking arena. In line with our affiliation with VISA International for VISA ATMs and POS, the
following two products are launched broadening service products of the Bank to the clients:
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Two copies of passport size photograph and personal information for customized card.
Photocopy of passport from 1 to 7 pages including endorsement pages.
Lien confirmation of FC A/C from the concern Branch for issuance of card against FC.
For issuance of card against in ERQ A/C maintained with SJIBL or with other Bank, lien
confirmation should be obtained from the respective Bank/Branch.
For issuance of card against new exporters and importers/producers quota relevant papers such
as, recommendation letter from EPB/copy of tax return etc. are also required.
Deposit slip for deposited money against endorsement amount.
Forwarding Letter from the respective Branch with detail particulars for card.
SJIBL VISA Prepaid - Local / Souvenir Card
Two copies of passport size photograph and personnel information for customized card.
Deposit slip for deposited money against Prepaid Local or Souvenir/Gift amount
Forwarding Letter from the respective Branch with detail particulars for card.
Usage Limit
Description
Transaction Limit
Balance checking
PIN change
SJIBL VISA Card can be used at Q-Cash, DBBL, Brac Bank and all VISA labeled ATMs in
Bangladesh.
Balance inquiry,
Cheque book request,
Cheque leaf status,
FC rate information,
Cheque stop payment instruction,
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SWIFT:
The bank has already become a member of Society for Worldwide Inter Bank Financial
Tele-Communication (SWIFT) to provide Secured and accurate communication network for
financial transactions, i.c. L/C, Remittance, etc.
REUTERS:
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The bank has also established liaison with the facility of REUTERS, through which the
bank received regular, latest information about the exchange rate, etc and other price sensitive
information to take prompt and correct decision.
Western Union Financial Services Inc. U.S.A. is the number one and reliable money transfer
company in the world. This modern Electronic Technology based money transfer company has
earned world wide reputation in transferring money from one country to another country within
the shortest possible time.
Shahjalal Islami Bank Limited has set up a Representation Agreement with Western Union
Financial Services Inc. U.S.A. Millions of people have confidence on Western Union for sending
money to their friends and family. Through Western Union Money Transfer Service, Bangladeshi
Wage Earners can send money quickly from over 280,000 Western Union Agent Locations in
over 200 countries and territories world wide- the world's largest network of its kind, only by
visiting any branches of Shahjalal Islami Bank Limited in Bangladesh.
The money sent by your loved ones is very special to you indeed. So, at Western Union, we offer
the following benefits:
Reliability:
Our customers have benefited from our electronic money transfer for over 150 years. Each
transfer can be tracked electronically to make sure that you receive the money your loved one
has sent.
Speed:
When your loved one sends you money, within minutes you can receive it in Bangladesh.
Convenience:
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Your loved ones deposit the money at any Western Union Agent location and get a receipt with
MTCN.
He/she then informs you about the amount sent (sender name, amount, sending country,
receiver name and MTCN).
You go to the nearest Shahjalal Islami Bank Branch with a valid identity card. You fill a simple
form and receive the money
During the period from 2007 to 2012, the Bank has the plan to regain its excellence in all the
core areas of operations and business. During this period, new and potential avenues of Business
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in all areas of operation to be explored and expanded through the network of existing 51
branches and more new branches to be opened gradually during the plan period subject to
permission of Bangladesh Bank. The Bank ensures optimum utilization of banks invisible
fund/deposit to be mobilized in future in an organized way to maximize Banks profit
consolidating the financial strength of the Bank and to achieve the overall objective, mission &
vision of the Bank as whole.
The financial position and overall achievement of the bank shall be reviewed and evaluated in
the light of the Annual Budget and Business plan on a quartered basis in every year. Necessary
change, adjustment, modification & re-allocation shall be made after periodical review keeping
the real scenario in view. All out effects shall be made for promotion and improvement of
quality-investment through effective supervision, control, follow-up and monitoring in order to
lessen the quantum of over dues, to arrest further over dues and to recover, regularize the over
dues and declassify the classified investments. Adequate care & caution to be exercised for
compliance with 05 core risks as per Bangladesh Banks policy/instructions during the planed
period. Asset-Liability of the Bank shall be managed effectively through ALCO to avoid
Liquidity Risk, profit rate risk, operational and other risks.
Thus, Shahjalal Islami Bank Limited will be turned into a dynamic Islamic Bank in the country
and will expand its Banking Business all over the Country to provide the Banking services to the
groups including the deserving Economic groups of the society have no easy access to the
Banking Channel. This will help for alleviation of the poverty, income generation, creation of
employment opportunity, up-gradation of the standard of living of the lower economic groups,
which will also contribute to the emancipation of Islami Bank Limited is the years to come.
It has not so far been decided as to how the word Bank originated. Some authors opine that this
word is derived from the words Bancus or Banque which mean a bench. Other authorities hold
the opinion that the word Bank is derived from the German word Back, which means joint
stock fund. It is therefore, not possible to decide as to which of the opinion is correct, for no
record is available to ascertain the validity of any of the opinions
The term bank is being used for a long time yet it has no precise definition. The basic reason is
that the banks perform not just one but many types of functions originally the banks were
supposed to make short term loans to the traders only. The banks now not only make short term
loans to the formers, traders , industrialist etc. But also invest in a wide variety of long term
earning assets.
The commercial banks also undertake and execute trust, deal in stock, shares and debentures,
issue guaranties and indemnities underwrite and sell new securities, and deal in foreign exchange
etc.
Banking industry acts as life-blood of modern trade and commerce acting as a bridge to provide
a major source of financial intermediation.
However some of the definitions of bank from different authors are as follows.
Depository financial institution: a financial institution that accepts deposits and channels the
money into lending activities; "he cashed a check at the bank"; "that bank holds the mortgage on
my home"
riba (interest) on any of its operation. Islamic Banking Act of Malaysia (Act No.273a) has given
the following definition.
Islamic banking means any company which carries on Islamic banking business and holds a
valid license; and all the offices and branches in Malaysia of such a bank shall be deemed to be
one bank.
Islamic banking business means banking business whose aims and operations do not
involve any element which is not approved by the Religion of Islam.
Therefore, if a bank by definition, avoids interest on its all transactions, but dose not keep itself
away from other Haram (forbidden) transactions, like investment to pork meat industry, alcoholic
beverage industry, gambling, etc. is not an Islamic, but all Islamic banks must be interest free.
Islamic bank, thus, can also be defined as a financial institution which dose not pay or receive
interest on any of its operations in any form and its all activities conform to the principles of
Islamic Shariah.
To abolish Riba.
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Generally to serve all classes of people, especially to favors the weaker sectors.
The above objectives are also the objectives of Islamic economics, so, hundred percent of these
objectives cannot be achieved by Islamic banking operations alone. Islamic banking can play an
important role to achieve these objectives for the establishment of a welfare economy.
Imply zero rate of interest, but not zero rate of return; earn profit / loss from their
investment and distribution the same to PLS- depositors and share holders.
Earn profit, but avoid profiteer ting which is prohibited in islam,
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war-torn economy of Bangladesh. As reported by BSB (P. 29, 1993), the banking system of
Bangladesh is a mixed one comprising nationalized, private and foreign commercial banks.
Bangladesh Bank is the central bank of the country and is in charge of monetary policies of the
Government and controls all commercial banks. Immediately after independence the
government of Bangladesh nationalized most of the banking institutions, though, within a short
period, due to the failure in administering them properly, many of them were returned to their
owners. The banking sector is one of the fast growing sectors of economy in Bangladesh. At
present there are 34 banks working in the financial market of the country, including five Islamic
banks and a number of foreign banks.
Central Banks and the Islamic Banks and submitted a report in 1981 on the Promotion,
Regulation and Supervision of Islamic Banks. The report highlighted the need to provide for
central bank assistance to the Islamic banks on a basis compatible with the Shariah. The report
also discussed many monetary aspects such as liquidity requirements, reserve requirements,
supervision of Islamic banking activities, and fiscal treatment of income from participation,
ownership, capital requirements, and the maintenance of sound relationships between capital,
reserves and total assets. The report recommended the fostering of interest-free financial
instruments to enable the Islamic banks to meet the statutory liquidity requirements of the central
banks. A study regarding The Relationship between Central Banks and Islamic Banks prepared
by IAIB was submitted to the third Expert Level Meeting on Islamic Banking Studies (Dhaka,
1989).
incorporated in the amended Banking Companies Act, 1991 (Act No. 14 of 1991). Bangladesh
Bank did not set up any separate Department at its Head Office to control, guide and supervise
the operation of the Islamic banks. Inspection and supervision of the Islamic banking operations
are conducted by the Bangladesh Bank as per the general guidelines framed for the conventional
banks. So, ensuring implementation of Shariah principles in the Islamic banks are being
conducted by their own Shariah Councils. The role of Bangladesh Bank in controlling, guiding
and supervising the Islamic Banks in Bangladesh in accordance with Islamic Shariah is very
minimal. In observing the Shariah implementation status of the Islamic banks, Bangladesh Bank
examines only the report of the respective banks Shariah Councils. However, the inspectors and
supervisors of Bangladesh Bank are not equally familiar with the technicalities of the different
operational methodologies of the Islamic banking. This is because of the fact that there is no
separate Department to look into this important matter. A committee of experts set up by the
Governors of Central Banks and Monetary Authorities of the OIC countries examined the whole
range of relationships between the
Islamic Banking
Conventional Banking
1. Islamic Banking are to follow Quaran, 1. Conventional Banking follows man made
Sunnah, Ijma and Kias i.e. Shariah in all the practice and rules.
business transactions including Accounting
Entries.
2. They can not engage in any interest in the 2. They conduct their Transactions on interest
transactions/ Haram(prohibited) business.
Musharaka Investment.
6. For delay of investment, in case of Bai- 6. No such Bai- Muraba and Bai- Muazzal
Mudrabaha
and
Bai-Muazzal
7. In case of over due Investment compensation 7. They charge interest / penal interest on over
may be charged if an independent committee due investment.
like Review committee decided to impose the
compensation.
8. Islamic Bank is to pay Zakat on its reserves.
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9. Islamic Banks are to pay a certain agreed 9. They do not pay a certain amount to the
amount of investment Income (agreed in depositor from their Investment income, rather
percentage) to the Mudaraba Depositors.
10. Mudaraba Depositors are to share the loss, 10. Their depositors do not share any loss or
if any, incurred out of Investment market from profit.
Mudaraba deposits.
11. Islamic banks are to follow Accounting, 11. They only follow International Accounting
auditing and Shariah standards developed by Standards (IAS) and International Standards of
Accounting and Auditing Organization for Auditing (ISA).
Islamic financial Institutions (AAOIFI) for in
addition to international Accounting Standards
(IAS) and international accounting standards of
Auditing (ISA) developed by international
Federation of Accountants.
Legal relationship
Behavioral relationship.
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After the contractual relationship is established between the banker and customer, they have to
avoid by some implied conditions of the contract as well as practices of the bank.
The word Al-Wadiah has been derived from the Arabic word Wadayn which means
to keep/to deposit/to give up/Amanat. As per Shariah , Amanat means to keep something
(goods/money/others) to any reliable person/institution for safe and secured preservation of the
same keeping its ownership unchanged and which will be returned to the owner of the fund on
demand as it is/in original shape. In case of Amanat Bank/any other institution cannot use,
invest and amalgamate the funds without the prior permission of the owner of the Amanat.
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1. The number of withdrawals over a period of time is limited. Two withdrawals per
week are permitted. But more than that no interest will be paid on rest amount for
that month.
2. The total amount of one or more withdrawal on any date should not exceed 25%
of the in the accounts unless 7 (seven) days advance notice is given.
3. The customer may deposit any amount in the savings bank account subject to a
minimum of Tk.2000/- in the account.
Payment of Profit:
Shahjalal Islami Bank Limited is proving 4% profit on Mudaraba Saving Deposit.
Opening a Saving Account:
For Operating a Mudaraba Saving Deposit following documentation are required:
1. Two copies of passport size photographs of accountholder and one copy passport
size
photo of nominee.
2. Introductory reference.
3. National ID Card.
Shahjalal Islami Bank Limited also receives term deposit from the clients. The SND
account is different from the interest-based banks. It is also a Time Deposit account. The
formalities for opening of this account are similar to those required for Al-Wadiah Current
Account. The only difference is that seven (7) days notice is required for withdrawal of any sum
and profit is paid. The rate of profit for this account is 3.50%. If the withdrawal on demand is
desired, it may be paid subject to the for-feature for the period of notice or the expired of notice.
Trustees
Liquidators
Receivers
Non-Resident
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This section opens account. It receives account opening application from the interested
applicants, examines and scrutinizes the applications and then selects final customers. Selection
of customers is very much important as the success and failure of the bank is largely dependent
on the valued customers. If the customer is found to be fraudulent or create some sort of
forgery, it will ultimately destroy the goodwill of the company.
The following formalities must be maintained by the customer for opening of different types
of account.
Individual:
i.
ii.
iii.
iv.
v.
vi.
Transaction profile.
vii.
Obtain KYC.
viii.
Declaration/Undertaking.
ix.
Letter of Thanks
(a) It must be sent to the A/c holder and introducer.
(b) Office copy to be affixed with the AOF.
(c) It will have to be dispatched under registered courier.
(d) Courier /Postal receipt must be affixed to the AOF.
(e) This receipt must contain the A/c number against which the letter has been
sent.
(f) After receiving back of the acknowledgement, it must be affixed with
concerned AOF for easy location in case of need.
(g) If the letter of thanks is returned back, without delivery for non-availability
of address or person, it must be marked on this letter and to be informed to
the computer department.
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Joint Account:
i.
ii.
iii.
iv.
v.
vi.
Special instruction regarding operation of the A/c in any of the following forms:
(a) By any of the Joint account holder singly.
(b) By either or survivor singly.
(c) By either singly.
(d) By any two or more joint account holding jointly.
(e) By all the survivors jointly.
vii.
viii.
Sole Proprietorship:
In case of opening an account by a sole-proprietor of a firm, he/she should sign the
account opening form and furnish his specimen signature showing his representative character.
i.
ii.
iii.
Partnership Firm:
Account in the firms name, is deprived of the power, which fact is known to the banker, there
can be no legal objection to a banker opening an account in the name of the firm at request.
Failure, however, to make proper enquiries by referring to the partnership agreement or any
other record in writing which maybe available before opening of account on behalf of a firm in a
partners name may lead a banker in trouble.
i.
ii.
iii.
iv.
Clear mandate for operating the a/c from the partners regarding name of the
persons to draw cheques and borrow money, to overdraw, to mortgage or to sell
properties owned by the firm.
v.
vi.
Insolvency of the partner: If the balance is in debit, the a/c must be closed and
the debt should be proved to the receiver. If the a/c is in credit the other partners
may continue the account. Any cheque previously drawn by the partners maybe
paid on the confirmation of the partners
vii.
ii.
iii.
Certificate of incorporation.
iv.
v.
vi.
Any seven or more persons associated for any lawful purpose, any subscribing their
names to a memorandum of association and otherwise complying with the requirements of the
Act (13A) in respect of registration, from an incorporated company. When an account is to be
opened in the name of a Public limited Company the following formalities are to be observed:
i.
ii.
iii.
Certificate of incorporation.
iv.
v.
vi.
Trust Account:
A trustee is a person entrusted with the work of the management of a property under a
trust created by the owner thereof for the benefit of another or of another and the owner section
3 of the Trust Act 1882 defines trust & a trustee as, A trust is an obligation annexed to the
ownership of property and arising out of confidence reposed in and accepted by the owner, or
declared and accepted by the owner or declared and accepted by him, for the benefit or another
or of another and the owner, the persons who reposes or declares the confidence is called the
trustee.
i.
ii.
iii.
ii.
iii.
iv.
ii.
iii.
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If a depositor would like to withdraw his profit after six months s/he will get the profit
accordance with previous years profit rate. After the announced yearly profit or loss, if bank felt
in loss position then the depositor bound to incur the loss. In absence of account holder the
selected nominee will get the money. If the accountholder does not mention any nominee, in that
case, the inheritance of the depositor will enjoy the profit accordance to inheritance certificate.
Any kind of tax or excise duty can be cut down according to government circular.
The depositor can pay installment from his account through prior permanent instruction. In this
term, the accountholders(s) are bound to pay Tk.25 for fine charge. If the account is close before
the maturity then profit will be calculate according to savings rate. If a depositor fails to pay
consecutive four installments then the account will be closed automatically and profit will be
calculate as Savings rate. But for first six-month no profit will be calculate. Nominee will enjoy
the profit in absence of the accountholder.
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she/he will receive the profit accordance with savings rate. In the absence of accountholder, the
specified nominee will get the amount.
Deposit Product
Mudaraba Saivings Deposit
Mudaraba Short Notice Deposit
Mudaraba Term Deposit
1 Month
2 Month
3 Month
6 Month
1 Year
Mudaraba Scheme Deposits
a) Monthly Income Scheme:
1 Year-3 Years
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Provisional Rate
4.00%
3.50%
12.00%-13.50%
12.00%-13.50%
12.00%-13.50%
12.00%-13.50%
12.00%-13.50%
12.00%
(TK.1,000/-per month
per lac)
i)
s
ii)
11.61%
(will be doubled in 6
years
11.61%
(will be doubled in 6
years
c) Millionaire Scheme:
i)
5 Years
(TK.12,470/per Month)
ii)
10Years
(TK.4,500/per Month)
iii)
12Years
(TK.3,280/per Month)
iv)
15Years
(TK.2,120/per Month)
v)
20Years
(TK.1,080/per Month)
vi)
25 Years
(TK.575/per Month)
d) Monthly Deposit Scheme:*
i)
5 Years Yearly:11.54%
ii)
8 Years Yearly:11.66%
iii)
10Years Yearly:11.83%
e) Hajj Scheme:**
Up to 10 Years
11.00%
11.00%
11.00%
11.00%
11.00%
11.00%
11.00%
11.10%
11.25%
11.25%
Monthly
Installment
25,000
12,000
7,700
5,500
4,200
3,350
2,725
2,275
Yearly
rate
11.65%
11.75%
11.75%
11.80%
11.80%
11.82%
11.82%
11.83%
9
10
2,000
1,700
374500
377800
11.83%
11.83%
1
2
3
6
1
Provisional Rate
12.00%-13.50%
12.00%-13.50%
12.00%-13.50%
12.00%-13.50%
12.00%-13.50%
Double
Tk500
Tk1,000
Tk2,000
Tk3,000
20,80
0
38,30
0
71,55
0
41,600
83,200
76,600
1,53,20
0
2,86,20
0
1,24,80
0
2,29,80
0
4,29,30
0
1,43,10
0
Tk4,000
Tk5,000
Tk10,000
1,66,400
2,08,000
4,16,000
3,06,400
3,83,000
7,66,000
5,72,400
7,15,500
14,31,00
0
Provisional Amount
Payable at
maturity for
5 years
Provisional Amount
Payable at maturity
for
8 years
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Provisional
Amount
Payable at
maturity for
10 years
500.00
1,000.00
2,000.00
5000.00
10,000.00
25,000.00
50,000.00
40,125.00
80,250.00
1,60,500.00
4,01,250.00
8,02,500.00
20,06,250.00
40,12,500.00
77,500.00
1,55,000.00
3,10,000.00
7,75,000.00
15,50,000.00
38,75,000.00
77,50,000.00
1,11,000.00
2,22,000.00
4,44,000.00
11,10,000.00
22,20,000.00
55,50,000.00
1,11,00,000.00
Years
Years
Years
Years
Tk825
Tk1,410
Tk2,530
Tk3,750
Tk10,00,000
Tk10,00,000
Tk10,00,000
Tk10,00,000
Installment
Period
3 Years
5 Years
8 Years
10 Years
Tk505
Tk700
Tk1,310
Tk2,405
Tk1,00,000
Tk1,00,000
Tk1,00,000
Tk1,00,000
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Installmen
t
Period
10 Years
15 Years
20 Years
Tk100
19,95
0
39,54
0
70,92
8
Tk250
Tk500
49,875
99,750
98,850
1,97,70
0
3,54,63
8
1,77,31
9
Tk1,000
1,99,50
0
3,95,40
0
7,09,27
5
Tk3,000
Tk5,000
5,98,500
9,97,500
11,86,20
0
21,27,82
5
19,77,000
35,46,375
Installment
Period
10
12
15
20
Years
Years
Years
Years
Tk250
Tk500
49,875
66,750
98,850
1,77,319
99,750
1,33,500
1,97,700
3,54,638
Tk1,000
Tk1,500
1,99,500
2,67,000
3,95,400
7,09,275
2,99,250
4,00,500
5,93,100
10,63,913
Tk2,000
3,99,000
5,34,000
7,90,800
14,18,550
General Banking
Sl
1.1
Particular
Al Wadeah Current Deposit Account
1.1.01 Service Charges
1.1.02 Incidental Charges
1.1.03 Account Maintenance Fee
1.1.04 Minimum Required Balance
1.1.05 Statement Charges
1.1.06 Balance Confirmation Charges
1.2
1.2.04
1.2.05
1.2.06
1.2.07
1.2.08
1.2.09
1.2.10
1.3
Charges
NIL
NIL
BDT 500.00 Half Yearly
BDT 5,000.00
Other than June & December
Closing BDT 200.00
Other than June & December
Closing BDT 200.00
BDT 50.00
BDT 200.00
BDT 200.00
BDT 300.00
NIL
NIL
No Charges on Average Balance
Up to BDT 5,000.00 and BDT
100.00 on Average Balance Up to
BDT 25,000.00 and BDT 500.00 on
Average Balance above BDT
25,000.00 Half Yearly
BDT 2,000.00
Other than June & December
Closing BDT 100.00
Other than June & December
Closing BDT 200.00
BDT 50.00
BDT 100.00
BDT 100.00
BDT 200.00
NIL
NIL
No Charges on Average Balance
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1.3.04
1.3.05
1.3.06
1.3.07
1.3.08
1.4
1.5
1.6
1.6.08
1.6.09
1.7
1.8
1.9
1.10
1.11
1.12
1.13
BDT 50.00
BDT 50.00
BDT 50.00
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The relationship between a banker and his customer is contractual one and continues as
long as both of them so desire. The relationship may be terminated by either of them by giving
notice of his intention to the other party. Moreover, the banker is bound to suspend payment out
of the customers account under the compulsions of law. The rights and obligations of a banker in
this regard are as follows:
1. If a customer the banker in writing to close his account, the banker is bound to
comply with such direction. The latter need not ask the reasons for the formers
direction. The account must be closed with immediate effect and the customer is
required to return the unused cheques.
2. If an account remains in operation for a very long period, the banker may request the
customer to withdraw the money. Such step is taken on the presumption that the
customer no longer needs the account. If the customer could not be traced after
reasonable effort, the banker usually transfers the balance to an unclaimed Deposit
Account, and the account is closed. The balance is paid to the customer as and when
he is traced.
3. The banker is also competent to terminate his relationship with the customer, if he
finds that the latter is no more a desirable customer. The banker takes his extreme step
in circumstances when the customer is guilty of conducting his account in an
unsatisfactory manner i.e. if the customer is convicted for forging cheques or bills or
if he issues cheques without sufficient funds or does not fulfill his commitment to pay
back the loans or overdrafts etc.
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Step-1:
The banker should give to the customer due notice of his intention to close the account and
request him to withdraw the balance standing to his credit. This notice should give sufficient
time to the customer to make alternative arrangements.
Step-2:
If the customer does not close the account on receipt of the aforesaid notice, the banker should
give another notice intimating the exact date by which the account be closed otherwise the
banker himself will close the account. During this notice period the banker can safely refuse to
accept further credits from the customer and can also refuse to issue fresh chequebook to him.
Such steps will not make him liable to the customer and will be in consequence with the
intention of the notice to close account by a specified date. The banker should not refuse to honor
the cheques issued by customer, so long as his account has a credit balance, which will suffice to
pay the cheque. If the banker dishonors any cheque without sufficient reasons, he will be held
liable to pay damages to his customer under section 31 of the negotiable instruments Act, 1881.
1) In case of default by the customer to close the account, the banker should close the
account and send the money by draft to the customer. He/she will not be liable for
dishonoring cheques presented for payment subsequently.
2) While closing the Mudaraba Saving Deposit (MSD), Al-Wadiah Current Deposit
(ACD) and Short Notice Deposit (SND) a request letter to be obtain from the account
holder. After obtaining the request from the account holder unused cheque leaves should
be collected from the account holder and signature to be verified.
Before closing the account prior clearance to be obtained from the general banking,
investment, and foreign trade department. After getting clearance from the respective
department account should be closed as per desire of the account holder by realizing our
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charges such as closing charge, service charge and excise duty etc and issue a payment
order for the balance amount in favor of the account.
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presented on other banks and will be cleared/honored through the clearing house. For example,
the cheque drawn on SJIBL, Head Office.
Outward Cheques:
These cheques are received on the counter from other banks.
case if there is no branch of our bank, then we directly send the cheque to the drawee bank and
request them to send the cheque to the proceeds by TT, DD or by other means.
3.9.0: Remittance
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A: Issuance of DD:
1. The following columns should be filled in properly.
(a) Name & address of the applicant.
(b) Telephone No.
(c) Date.
(d) Signature of the applicant.
(e) Name of the
(f) payee.
(g) Drawee branch.
(h) Amount in words and figure.
C: Payment of Drafts:
1. When the draft is presented to the drawee branch for payment, the particulars of the draft
are checked with the advice and signature(s) therein verified.
2. Payment of the DD has not been stopped is to be ensured.
3. Verification of Test no. is to be done.
4. In case the advice is not received when the draft is presented, the bank will pay the draft,
after satisfying itself that the instrument is in order. However, on payment of a draft in
the absence of the relative advice the drawee branch should inform the issuing branch
and obtain confirmation about the payment.
5. The drawee branch should ensure that the payment of the instrument is made in due
course.
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6. As the demand drat is payable to order it is duty of the paying branch to obtain
identification of the payee if payment is desired over the counter.
7. If the DD is presented through a bank, the endorsement appearing on the instrument
should be prima-facie in order of certified by the collecting banker.
8. Though there is no time limit for presentation, the paying bank should put an enquiry if a
draft is presented after a reasonable period say 6 months. Such draft may be paid if the
collecting banker certifies that amount has been credited to the payees A/c in absence of
such a certificate, it would be advisable to return the draft for revalidation before
payment.
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Dr. PO A/c
Cr. Cash/Partys A/c
Money counting machine for making cash transaction easy and prompt.
In SJIBL Bank SWIFT is being used for foreign trade related operations like
letter of credit, fund transfer, guarantee, etc with optimum security.
Continuous training both at home and abroad is going on the develop the
skill of human resources.
Weakness:
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Sometimes it seemed to me that charges and other fees are very high
compared to other private banks. It frequently creates customer
dissatisfaction.
Some officials dealing with retail products have not been as a professional
as a private bank does require.
Most of the time there were problem with the ATM machine. In ATM, It
sometimes remained out of order, some time out of cash and sometimes
customer face the problem of cash and credit capture.
Opportunity:
Here the opportunity means an area of buyer need or potential interest in which
a bank can perform profitably. If the management can use the continuous
support properly it can enjoy huge opportunity for improving its growth. Other
opportunities are
Threat:
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4.0: Findings
Lack of strong monitoring unit.
Sometimes the process of information transferring to the management is lengthy.
Banks deal with documents is not goods is one of the core principles of conventional
banking. However Islamic banking needs to with goods are imposed by Shariah.
Bank has limited ATM booths.
Lake of central AC for better working environment.
Generally investment clients do not come to the Islamic Banks only for Shariah purpose
rather for low transaction cost.
Lake of training facility of junior officers.
Fewer clients for trade business.
PC Bank server problem.
4.1.0: Recommendation
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Although this branch is making a huge amount of profit and generating a large
volume of deposit, a number of problem have been dictated while I working this branch. Based
on my work experience at SJIBL, College Gate branch, I would like to put my some
recommendations:
Bank need to increase its quality of customer service and it should Separate form
other banking activity.
Proper and sufficient training is required for each and every staff to work with full
capability in the best way.
Branch should be innovative and diversified in its service and well behave with their
customer.
Need modern technology, without using modern technology no bank can even think
of remaining in the business in near future. So the bank must decide right now how it
equips its branches with modern technology.
Information system should be developed. Bank should be using internet not only for
local but also international correspondence.
Chain of doing job in the branch should be made clear. In the branch chain of
completing a work is not clearly, one employee sometimes performs same duty and in
another time different employee performs it, so no employee can be held liable for
defective work or for delay in work.
Computer division need to be up date and extensive for the greater welfare of the
branch.
Bank should be increasing their branch all over the Bangladesh as soon as possible.
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Bank should more invest in agricultural sector. Should give Micro credit for small
entrepreneurs
Bank should emphasize on marketing division through media.
Bank should take officer who are subject related that can understand Banking with in
a short time they can progress a banking activity rather than other officer.
Increase the SJIBLs own ATM booth.
SJIBL requires resorting to massive image re-engineering in order to capture the
public perception to take the lead role in this sector.
SJIBL should deserve immediate attention in the promotion of the image of Shariah
based banks as PLS (Profit-loss-sharing)-banks.
Bank should more concentrate on foreign exchange.
ahead.
The bank should offer facility such as Credit card.
SJIBL should consider utilization of rural potentials from both efficiency
and equity grounds in the context of the present-day socio-economic
conditions of Bangladesh. Strong commitments and stepping up through
experiment and implementation of innovative ideas are the appropriate
ways to do that.
4.2.0: Conclusion
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Interest free banking system is no more a concept. It is now a Reality, a dynamic system,
embodying a set of superior banking mechanism. More than 300 Islamic bank and financial
institutions are operating in different Countries throughout the world with a marked success
from this inception in our country in 1983. Shahjalal Islami Bank Limited has been operating
with real and confidence in corporation with other conventional banks. Bringing a new concept in
such business sector, which is growing too rapidly in the world, is rally bold step. As a large
Islamic commercial bank, Islamic bank took various steps to create employment and socioeconomic development for the poor through Islamic shariah. During the three months internship
program at College Gate Branch all the desks have been observed mire or less. Gaining
knowledge of practical banking and to compare this practical knowledge with theoretical
knowledge. Though all departments and sections are covered in the internship program, it is not
possible to go to the dept of each activities of branch because of time limitation. So, objective of
this internship program have not been fulfilled with complete satisfaction. However, highest
effort has been given to achieve the objective the internship program. During the internship, it is
found that the branch provides all the type of banking services as well as some specialized
financing activities to the economy.
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