Efficiency and Performance of Remittance

Collection of Banks in Bangladesh

A Study on : Agrani Bank Limited

Date of Submission : 24.01.2011

 INTERNSHIP REPORT ON

Efficiency & Performance of Remittance Collection of banks in

Bangladesh

A Study on: Agani Bank ltd.

Submitted to
Md. Nazim Uddin Bhuiyan
Associate Professor
Department of Accounting & Information systems
Faculty of Business Studies
University of Dhaka

Prepared by

ARIFUR RAHMAN
Roll # 10814044
MBA (E) 14th Batch
Department of Accounting & Information Systems
Faculty of Business Studies
University of Dhaka
 Date of Submission : 24.01.2011

Letter of Transmittal

January 24, 2011

Md. Nazim Uddin Bhuiyan

Associate Professor
Department of Accounting & Information Systems
Faculty of Business Studies
University of Dhaka

Sub: Submission of Internship report titled “Efficiency and Performance of Remittance

Collection of Banks in Bangladesh’’ study on Agrani Bank Ltd.

Sir
Here comes the report with above mentioned title which you recommended as per internship
requirement. This report could not get its complete form without your valuable instruction for
which I am grateful to you.

This report tries to accumulate the scenario that remittance has on our economy, directly and
indirectly. Some recent report on remittance has also been incorporated in the report.

Agrani Bank Ltd is also one of the major player in channeling remittance. This report focuses on
a particular branch of the said bank showing how exchange houses has contributed the volume
of remittance channeled.

This report can’t be said a full independent study based on primary data. But its an effort to this
regard. I am pleased working on this topic and ready to serve any query related to my work.

Yours truly,

ARIFUR RAHMAN
Roll # 10814044
MBA (E) 14th Batch
Department of Accounting & Information Systems
Faculty of Business Studies
University of Dhaka
 Acknowledgement

Actually I really grateful to my honorable teacher for the assistance to prepare

my report. Also I want to give thanks to high officials of Agrani Bank Ltd who help
me by providing the relevant data.
 Table of Contents

S.L
No
Topic Page No
Title and Cover Page
Letter of Transmittal
Acknowledgement
Executive Summary I
Origin of the Report II
Research Design II
Report Organization II

CHAPTER ONE

A Brief Overview of Agrani Bank Limited 4

1.1 Our vision 5
1.2 Our mission 5
1.3 5
Our motto
1.4 Our values 5
1.5 Financial Highlights 6
1.6 Key ratios 7
1.7 Board of Directors of Agrani Bank ltd 8
1.8 Hierarchy of Agrani Bank ltd 10
CHAPTER TWO
Foreign Remittance 11
2.1 Definition Foreign Remittance 12
2.2 Kinds of Remittance 12-13
CHAPTER THREE

Remittance in Bangladesh Economy 14

3.1 Flow of Remittance 15
3.2 Contribution of Remittance to the National Economy 15
3.3 Methods of Transfer 16
3.4 Transaction Cost and Time 17
3.5 Public and Private actors in remittance transfer : 18-19
Ministry of Finance
Bangladesh Bank
Nationalized Commercial Banks
Private Commercial Banks
 CHAPTER FOUR
Recommendation for Remittance Collection 20
4.1 Reforms and actions in harnessing remittance 21
Floating Exchange Rate in Current Account 21
Streamlining the Transfer Process 21
4.2 Remittance Payments, Development and Economics in 22
Bangladesh
4.3 Remittance and Development 23
Utilization 23
4.4 Remittance in Bangladesh : Determinants and 2010 Outlook 24
4.5 Bangladesh receives record nearly $11 bln remittance in 25
2009-10 fiscal
4.6 Remittance Boost Bangladesh Economy 26-27
CHAPTER FIVE
Regulation related of Foreign Remittance 28
5.1 Foreign Exchange Regulation Act, 1947 (As modified up to 1996) 29
5.2 Money Laundering Prevention Act, 2002 30
5.3 Bangladesh Economic Scenario and Foreign remittance 31
5.4 Movement of World Remittance 31
5.5 Remittances of Bangladesh 31
5.6 Country wise remittance inflow in Bangladesh 32
5.7 Country wise labor migration from Bangladesh 33
5.8 Workers category wise labor migration from Bangladesh 34
5.9 Recruiting media wise labor migration from Bangladesh 35
5.10 Illegal channel of remittance inflow in Bangladesh 35
CHAPTER SIX
Remittance economy: A study 36
6.1 Introduction 37
6.2 Remittances and Bangladesh 37-38
6.3 Analytical Approach 39-40
6.4 Objectives, Methodology and Scope of Research 41-42
CHAPTER SEVEN
Agrani Bank and Remittance 43
7.1 Emergence of Agrani Bank Limited 44
7.2 Progress Achieved in 2009 44
7.3 International Trade 44
7.4 Export Import Business 44
7.5 Foreign Remittance Business 44-45
7.6 Scenario From Agrani Bank Ltd (Singair Branch) 46
CHAPTER EIGHT
8 Recommendations and Conclusions 47-51
9. Appendix A : Bibliography 52-54
Appendix b : Relevant data 55-57