FOREIGN EXCHANGE MANAGEMENT OF JANATA BANK LIMITED

Internship Report on

FOREIGN EXCHANGE MANAGEMENT OF JANATA BANK LIMITED

Submitted toDepartment Of MISFaculty of Business StudiesUniversity Of DhakaSubmitted ByLasker Md Nazibul IslamBatch : 3rd Roll: 03-47Department Of MISFaculty of Business StudiesUniversity Of Dhaka

Supervised by,

.

Mohammad Anisur Rahman Course Coordinator Dept . Of MISUniversity Of DhakaDate of Submission: 30 Augus,t 2013

Declaration

I do hereby solemnly declare that the work presented in this report entitled Foreign Exchange Management Of Janata Bank Limited has been carried out by me and has not been previously submitted to any other University/ College/ Organization for academic qualification/ certificate/ diploma or degree.The work I have presented does not breach any existing copyright and no portion of this report is copied from any other work done earlier for a degree or otherwise.I further undertake to indemnify the department against any loss or damage arising from breach of foregoing obligations.

Lashkar Md. Nazibul IslamBatch : MBA 3rd BatchRoll: 03-47Department of MISFaculty of Business StudiesUniversity Of Dhaka

August30, 2013Mohammad Anisur Rahman Course Coordinator Dept . of MISUniversity of Dhaka

Sir:

I want to submit my internship report on FAIRMACS MULTILINES PVT. LTD. This report is going to provide valuable assistance to the organization in finding out the factors regarding Freight Forwarding service industry and consumer perception about adopting shipping service.

Therefore, I need your kind attention to assess my report considering the limitations of the study. Your kind suggestion will persuade me to perform better research work in future.

Yours sincerely,

Lasker Md. Nazibul IslamID : 03-047

EXECUTIVE SUMMARY

Janata Bank Ltd is a governmentt owned bank with numerous branches spreading all over Bangladesh. It collects remittances from NRB from different countries and transfers the currency in BDT to the destined location. Here I have tried to describe the remittance processing structure of JBL. Along with, I have included the changes made by globally accepted protocol UCP-600 and wired transfer service SWIFT. In this report I have tried to show the contribution of JBLs remittance earning on national remittance earning. JBLs performance is not dissatisfactory but the remittance earning is not increasing as the rising national remittance curve. After analyzing the data of JBLs remittance earnings process this report have suggested that JBL lacks in foreign currency collection structure. Its remittance earning is increasing but the increase is far below the national remittance increase. JBL should take up to the mark structural change in service to cope with the national trend and help Bangladesh earn more remittance. In addition, with this intern report have been included the regression analysis of import-export volume with regard of exchange rate. .

1. INTRODUCTION This report has a certain purpose to focus on the operations of Foreign Exchange of Janata Bank Limited. Without any doubt Foreign exchange catches the flash as it has great importance in the balance of trade in economy. Banks plays a vital role in this discipline.

2. ORIGIN OF THE REPORTAlthough total M.B.A. program combines an excellent blend of theoretical and classroom knowledge but aside this internship program facilitates a student to bring light on their theoretical knowledge to apply this in practical ground. I was assigned to Janata Bank, Sonargaon Road Branch, and foreign exchange department for my practical execution. I am required to prepare an internship report under the supervision of our honorable teacher Mohammad Anisur Rahman Foreign Exchange Management of Janata Bank Limited to conduct a precision analysis on the typical subject. I have always tried my best to reflect my experience of the practical incidence in this report.

3. OBJECTIVES OF THE REPORT3.1. BROAD OBJECTIVE The main purpose of the report is to get a clear idea about the management of and Foreign Exchange of Bangladesh as well as Janata Bank limited, and make an elaborate industry analysis on the banking sector activity of Bangladesh.3.2. SPECIFIC OBJECTIVES To analyze the real Foreign Exchange performance of Bangladesh. To find out critical problems of Foreign Exchange discipline of Bangladesh.

4. SCOPE OF THE REPORT

This study would focus on the following areas of Janata Bank Limited. Actual Foreign Exchange management of Janata Bank Limited. Overview the current procedure of export & import and remittance management. Opening LC and maintenance of other formalities of foreign exchange. Organizational structures and responsibilities of management. Each of the above areas would be critically analyzed to determine the proper efficiency of Janata Banks Foreign Exchange Management system.

5. IMPORTANCE OF THE REPORT

Bangladesh is considered as a developing country in the world. The economy of this country has a lot left to go further and there are lots of scopes for massive improvement. In an economy like Bangladesh, Foreign Exchange can play a major role to improve the economic condition of the country. The banks play the role of an intermediary that can mobilize the excess fund from surplus sectors to provide necessary financing, to those sectors, which need a proper go ahead for sound development of the economy. This report is a total effort to reflect a clear idea about the strategies, activities, and performance of Bangladesh regarding Foreign Exchange Business.

6. LIMITATIONS

I have faced some limitations, when I was preparing this report which is mentioned below. Time limitation It was one of the main constraints that affected covering all aspects of the study. Lack of Secondary Information: The import export data of Bangladesh is not much available over the net. Secondary source of information was not sufficient for the completion of the report. Limitation of the Scope: Much confidential information was not disclosed by respective personnel of the department. 7. ANALYSIS TECHNIQUESBoth qualitative and quantitative methods were applied for preparing this report. The data were analyzed and presented by Microsoft excel and shows percentage, graphical presentation and different types of charts. Best effort was given to analyze the numerical findings.

8. REQUIRED DATA

I have mainly focused on numerical data in preparing the report. Also I have used theoretical portion as the demand of the report. Analyzing foreign exchange management of a bank, both theoretical and technical knowledge are necessary for execution. Then everything with accuracy, I have analyzed and made conclusion.

9. SOURCES OF DATA

9.1. SAMPLE INFORMATION Main source of the information is annual report of Janata Bank Limited, report of annual meeting, brochures and web sites. The information incorporated in this report is heavily collected both from the primary sources and as well as from the secondary sources. 9.2. PRIMARY SOURCE OF DATA I have collected data directly from the different sectors of Janata Bank head office. This is called primary source of data. 9.3. SECONDARY SOURCES OF DATA The secondary data is collected from annual report, distinguished conceptual matters, websites and several published matter as articles in different versions of printings . Secondary Sources are: Annual Reports of different years of Janata Bank Limited. Annual Report of Bangladesh Bank of 2011. Other published documents of Janata Bank Limited. Respective sectors of foreign matter of the head office.

10. ORGANIZATIONAL PROFILE

10.1. HISTORICAL BACKGROUND OF THE ORGANIZATION Janata Bank Limited is the 2nd largest state owned commercial bank in Bangladesh. Immediately after the liberation of Bangladesh in 1971, the erstwhile United Bank Limited and Union Bank Limited were renamed as Janata Bank. The established of Janata Bank was happened under the Bangladesh Bank order 1972. It was incorporated as a public Limited Company on 21, May 07 vide certificate of incorporation No-C66933(4425)07 in the early era of privatization. Janata Bank Limited, one of the state owned commercial banks in Bangladesh, has an authorized capital of Tk. 20000 million (approx. US$ 250 million), paid up capital of Tk. 11000.00 million, reserve of Tk.17234 million. The Bank has a total asset of Tk. 508567 million as on 31st December 2012. Immediately after the emergence of Bangladesh in 1971, the erstwhile United Bank Limited and Union Bank Limited were renamed as Janata Bank. On 15th November, 2007 the bank has been corporatised and renamed as Janata Bank Limited. Janata Bank Limited operates through 889 branches including 4 overseas branches at United Arab Emirates. It is linked with 1202 foreign correspondents all over the world. The Bank employees more than 15(fifteen) thousand persons.

11. ORGANIZATION MISSION AND VISION

11.1. MISSION: As it is recognized as the leading commercial bank in the aspect of Bangladesh market and it is providing retail and corporate banking services, it is trusted and respected as a partner in the social and economic development program in our country and among our nation.

11.2. VISION: Becoming effective largest commercial bank in the perspective of Bangladesh to support socio-economic development of the country and assists go ahead for becoming leading bank in South-Asia.

12. OFFERED SERVICES BY THE ORGANIZATION

Beside regular banking operation, Janata Bank Limited offers specialized services to different walks of clients/agencies throughout the country. Under the network of utility services, customers of different govt. organizations, corporate bodies, local bodies, educational institutions, students, etc are getting essential benefits from the Bank continuously. The utility services of Janata Bank Limited's are: 12.1. BILLS COLLECTION: Collecting the gas bills of Titas, Bakhrabad and Jalalabad Gas Transmission and Distribution Companies. Regular collection of electricity bills of Dhaka Electricity Supply Authority, Dhaka Electricity Company, Bangladesh Power Development Board and Rural Electrification Board. Regularly collects the telephone bills of Telegraph and Telephone Board. Collects Water/Sewerage bills of Water and Sewerage Authority. Municipal holding tax of City Corporation/ Municipalities is collected by JBL. 12.2. PAYMENTS MADE ON BEHALF OF GOVT. Payment of non- Govt. teachers salaries Providing girl Students scholarship/stipend & Primary Student Stipend. Provides army pension Payment of widows, divorcees and destitute women allowances Old-age Allowances Food procurement Bills

As per decision of the govt. 46 (Forty Six) branches of JBL(40 branches in Dhaka city, 1(one) branch in Narayangonj city and 5(five) branches in Chittagong city) are involved to receive all utility bills in a same station from January'04. 12.3. SERVICES AREAS SERVICES AREAS

BranchesThere are 851 branches of Janata Bank Limited in home and abroad. Among them 443 branches are situated in urban areas including four foreign branches and 408branches are in rural areas. And all foreign branches are situated in United Arab Emirates. There are 851 branches of Janata Bank Limited in home and abroad. Among them 443 branches are situated in urban areas including four foreign branches and 408branches are in rural areas. All foreign branches are situated in United Arab Emirates.

List Of BranchLocal Office1

Corporate-1 Branch12

Corporate-2 Branch40

Overseas Branch04

Grade-1 Branch204

Grade-2 Branch209

Grade-3 Branch296

Grade-4 Branch117

Total Branches :883

Overseas Branch

SL.NameStatus

01.Abu DhabiForeign

02.Al-AinForeign

03.SharjahForeign

04.DubaiForeign

Total : 04

(http://www.janatabank-bd.com/jb9.htm, 2013)

13. ORGANIZATIONAL STRUCTURE13.1. MANAGEMENT ASPECT Like every other business organization, the foremost duty of the top management is to makes all the major decisions of Janata Bank. The boards of directors are being at the topmost level of organizational structure plays an important role in policy formulation and successful execution, but it is not a direct concern of the day-day operations of the bank. The duty was delegated to the management committee. The board mainly sets the objectives and policies of the bank. The management consists of one chairman, eleven directors, one CEO & MD and one company secretary.. Mid and lower level employees get the direction and instruction from the Board of Directors about the tasks they have to meet. The chief executive provides the guideline to the managers and employees, but bears the responsibility for determining how tasks and goals are to be attained.

14. FOREIGN EXCHANGE IN JBL AND THE WORLD14.1 INTRODUCTION One of the most important businesses carried out by the commercial bank is foreign trading. General focusing states that, the trade among various countries falls for close link between the parties dealing in trade. The situation calls for expertise in the field of foreign operations. The bank, is referred to as rending international banking operation which provides such services. Transactions with overseas countries in respect of export, import and foreign remittance dealings are under the preview of foreign exchange department. International trade demands a flow of goods from seller to buyer and of payment from buyer to seller. In this case the bank forms bridge between the buyer and seller. Among all departments Foreign exchange department of Janata Bank Limited is one of the most important. This department handles various types of activities. Among these main three are as follows: Export Import and Foreign remittance

15.EXPORT

Janata Bank Limited exports a large quantity of goods and services to many countries. Readymade textile garments (both knitted and woven), Jute, Jute-made products, frozen shrimps, tea, hide and skin, vegetables are the main goods that Bangladeshi exporters exports to foreign countries. Garments sector is the largest sector that exports the lion share of the country's export. Bangladesh exports most of its readymade garments products to U.S.A and European Community (EC) countries. Bangladesh exports about 40% of its readymade garments products to U.S.A. Most of the exporters who export through Janata Bank Limited foreign exchange Branch are readymade garment exporters. They open export L/Cs here to export their goods, which they open against the import L/Cs opened by their foreign importers

5.1 FORMALITIES OF EXPORT PROCEDUREThere are a number of formalities, which an exporter has to fulfill before and after shipment of goods. These formalities or procedures are enumerated in brief as follows: Obtaining Export Registration Certificate ERC: No exporter is allowed to export any commodity for export from Bangladesh unless he is registered with Chief Controller of Imports and Exports (CCI & E) and holds valid Export Registration Certificate (ERC). After applying to the CCI&E in the prescribed from along with the necessary papers, concerned offices of the Chief Controller of Imports and Exports issues ERC. Once registered, exporters are to make renewal of ERC every year. Securing the order: After getting ERC, the exporter may proceed to secure the export order. He can do this by contracting the buyers directly through correspondence. Obtaining EXP: After having the registration, the exporter applies to Janata Bank Limited with the trade license, ERC and the Certificate from the concerned Government Organization to get EXP. If the bank is satisfied, an EXP is issued to the exporter. Signing of the contract: After communicating with buyer the exporter has to get contracted for exporting exportable items from Bangladesh detailing commodity, quantity, price, shipment, insurance and mark, inspection, arbitration etc. Receiving the Letter of Credit: After getting contract for sale, exporter should ask the buyer for Letter of Credit clearly stating terms and conditions of export and payment. Procuring the materials: After making the deal and on having the L/C opened in his favor, the next step for the exporter is to set about the task of procuring or manufacturing the contracted merchandise. Endorsement on EXP: Before the exporter with the customs or postal authorities lodges the export forms, they should get all the copies endorsed by Janata Bank Limited. Before shipment, exporter submits EXP. form with commercial invoice. Then Janata Banks respective officers check it properly, if satisfied, certified the EXP. Without EXP exporter cannot make shipment. The customer must declare all export goods on the EXP issued by the authorized dealers

15.2. DISPOSAL OF EXPORT PROCEDURE

Original: Customs authority reports first copy of EXP to Bangladesh Bank after shipment of the goods. Duplicate: Negotiating bank reports the Duplicate to Bangladesh Bank in or after negotiation date but not later than 14 days from the date of shipment. Triplicate: On realization of export proceeds the same bank to the same authority reports Triplicate. Quadruplicate: Finally, the negotiating bank as their office copy retains Quadruplicate.

Shipment of goods: Exporter makes shipment according to the terms and condition of L/C. Presentation of export documents for negotiation: After shipment, exporter submits the following documents to Janata bank Limited for negotiation. Bill of Exchange or Draft Bill of Lading Invoice Insurance Policy/Certificate Certificate of origin Inspection Certificate Consular Invoice Packing List Quality Control Certificate G.S.P. certificate Photo Examination of Document: Banks deal with documents only, not with commodity. As the negotiating bank is giving the value before repatriation of the export proceeds it is advisable to scrutinize and examine each and every document with great care whether any discrepancy(s) is observed in the documents. The bankers are to ascertain that the documents are strictly as per the terms of L/C Before negotiation of the export bill. Bank officers assigned for examining the export documents may use a checklist for their convenience. Negotiation of export documents: Negotiation stands for payment of value to the exporter against the documents stipulated in the L\C. If documents are in order, Janata Bank Limited purchases (negotiates) the same on the basis of banker- customer relationship. This is known as Foreign Documentary Bill Purchase (FDBP).If the bank is not satisfied with the documents submitted to Janata Bank Limited and gives the exporter reasonable time to remove the discrepancies or sends the documents to L/C opening bank for collection. This is known as Foreign Documentary Bill for Collection (FDBC). Settlement of Local Bills: The settlement of local bills is done in the following ways, - The customer submits the L/C to Janata Bank Limited along with the documents to negotiate Janata Bank Limited officials scrutinize the documents to ensure the conformity with the terms and conditions. The documents are then forwarded to the L/C opening bank. The L/C issuing banks gives the acceptance and forwards an acceptance letter. Payment is given to the customer on either by collection basis or by purchasing the document.

16. IMPORTImport means purchase of goods or services from abroad. Normally consumers, firms and Government organizations import foreign goods or services to meet their various necessities. Main import items are food item, edible oil, fertilizer, petroleum, machineries, chemicals, raw materials of industry, cement clinkers etc. So, in brief, we can say that import is the flow of goods and services purchased by local agent staying in the country from foreign agent staying abroad. 16.1 IMPORT PROCEDURE Authorized Dealer, banks are always committed to facilitate import of different goods into Bangladesh from the foreign countries. Import Section, which is under Foreign Exchange Department of a bank, is assigned to perform this job. And to serve its parties demand to import goods, it always maintains required formalities that are collectively termed as Import Procedure. i) At first, the importer must obtain Import Registration Certificate (IRC) from the CCI&E submitting the following papers: Up to date Trade License. Nationality and Asset Certificate. Income Tax Certificate. In case of company, Memorandum & Articles of Association and Certificate of Incorporation. Bank Solvency Certificate etc. Required amount of registration fee ii) Then the importer has to contact with the seller outside the country to obtain the Proforma Invoice. Usually an indenter, local agent of the seller or foreign agent of the buyer makes this communication. Beside these other sources are: Trade fair. Chamber of Commerce. Foreign Missions in Bangladesh. Journals etc. iii) When the importer accepts the Proforma Invoice, he/she makes a purchase contract with the exporter detailing the terms and conditions of the import. iv) After making the purchase contract, importer settles the means of payment with the seller. An import procedure differs with different means of payment. The possible means are Cash in Advance, Open Account, Collection Method and Documentary Letter of Credit. In most cases, the Documentary Letter of Credit in our country makes import payment. Purchase Contract contains which payment procedure has to be applied. 16.2. PAYMENT MODES Cash in advance: Importer pays full, partial or progressive payment by a foreign DD, MT or TT. After receiving payment, exporter will send the goods and the transport receipt to the importer. Importer will take delivery of the goods from the transport company. Open Account: Exporter ships the goods and sends transport receipt to the importer. Importer will take delivery of the goods and makes payment by foreign DD, MT, or TT at some specified date. Collection Method: Collection methods are either clean collection or documentary collection. Again, Documentary Collection may be Document against Payment (D/P) or Document against Acceptance (D/A). The collection procedure is that the exporter ships the goods and draws a draft/ bill on the buyer. The exporter submits the draft/bill (only or with documents) to the remitting bank for collection and the bank acknowledges this. Then the remitting bank sends the draft/bill (with or without documents) and a collection instruction letter to the collecting bank. Acting as an agent of the remitting bank, the collecting bank notifies the importer upon receipt of the draft. The title of goods is released to the importer upon full payment or acceptance of the draft/bill. Letter of credit: Letter of credit is the well-accepted and most commonly used means of payment. It is an undertaking for payment by the issuing bank to the beneficiary, upon submission of some stipulated documents and fulfilling the terms and conditions mentioned in the letter of credit.

17. Export Finance

To boost up country's Export, Janata Bank Limited has been providing different kinds of assistance to exporters. Some of which are as under:- Providing Pre-Shipment and Post-Shipment Finance, Export Guarantee and bonding facility etc. Concessional rate of interest for exports Finance. Back to Back L/C under bonded Warehouse facility Sight & Unasked L/C against Firm Contract for import of raw materials. Sight L/C under EDF Exporter's Retention Quota A/C both interest bearing and non-interest bearing. Export incentive Program. Banking at Export Processing Zone Scope for establishment of export oriented industry by 100% foreign investment and by joint-venture The sole bank to disburse Government Export Promotion Fund against export of Computer Software & Data Entry Processing Undergone to an agreement with Bangladesh Bank to obtain fund from Government EEF (Equity & Entrepreneurship Fund) to build up entrepreneur's equity. Providing services to the exporter by utilising most modernised technology like Swift, Reuters, Internet, Fax etc. Our bank E-mail no. is id-obd@janatabank-bd.com any latest business information will be available at our website; www.janatabank-bd.com Consultancy and advisory services by an expert group of officials. Special export financing program towards computer software data entry and service export. (http://www.janatabank-bd.com/jb5.htm, 2013)

National and Janata Bank Limited's Export Performance

In 2011 Janata Bank Limited's export target is Tk.-14,400.00 cr and the achievement isTk.- 15,375.82 cr what is about 109.82% of the target with 29.74% growth.

Export growth of Janata Bank Limited (2002-2011): (Taka in Core)

YearTargetAchievementAchievement RateGrowth

20024000.003445.4678.84%+6.38%

20034000.004286.49107.16%+24.40%

20044800.005462.33113.80%+27.43%

20056825.005839.4885.56%+6.90%

20067000.007089.66101.28%+21.40%

20077,798.387185.5592.14%+01.35%

20088622.668541.7899.06%+18.87%

20096648.008565.31128.84%+00.28%

201010500.0011851.52112.87+38.37%

201114000.0015375.82109.82%+29.74%

(http://www.janatabank-bd.com/jb5.htm, 2013)

Contribution to National Export business of Janata Bank Limited (Million US$)

National ExportContribution to National Export of Janata Bank Limited

Financial YearTargetAchievementAchievementPercentage

2003-20047227.707603.00632.908.21%

2004-20058565.788655.00692.808.00%

2005-200610159.2010526.16958.029.10%

2006-200712500.0012187.501057.689%

2007-200814500.0014111.081107.508%

2008-200916298.4315565.191293.218%

2009-201017600.0016204.651407.118.68%

2010-201118500.0022924.382075.389.05%

(http://www.janatabank-bd.com/jb5.htm, 2013)

Commodity-wise Export performance: 2005 to 2011

(Taka in Core)

Year RMG Frozen Fish Hide & Skin Raw Jute Jute Goods Vegetables Tea Others Total

2005 2933.47 595.63 615.34 56.80 479.87 126.58 9.64 1022.15 5839.48

2006 3549.82 674.47 758.66 68.84 544.40 136.35 2.79 1354.33 7089.66

2007 3540.93 743.28 780.70 75.91 495.55 127.05 1.94 1420.19 7185.55

20084214.55797.60837.5574.68644.54162.905.201804.768541.78

20094447.82817.531021.22101.78521.41156.602.091796.868865.31

20106367.071032.421318.93182.74790.16163.540.201996.4611851.52

20119597.281427.541899.86146.30916.63211.640.001176.5715375.82

18. Import Finance

Through quite a good number of Authorized Dealer Branches and 1198 nos. foreign correspondents world wide Janata Bank Limited has been extending full range import and relevant finance facilities.ImportItems : Capital Machineries and Industrial raw materials.

Fuel & Lubricants.

Intermediate goods.

Consumer durable, spare parts and equipments.

Consumer goods : Food & Food Grains, Baby food, Petroleum, CDSO (Crude Degummed Soya bean Oil), CPO (Crude Palm Olin) Oilseeds, Cement Clinker, Construction Materials, Fertilizer, Chemicals and many other goods permissible by Import by Import Policy of the country. (http://www.janatabank-bd.com/jb5.htm, 2013)

Facilities Offered :Opening of L/C at competitive/ reasonable margin and commission

Interest at concession rate on import finance to the prime customers & interest rebate facilities.

Import TrendSetting Industrial vision to facilitate optimally, bank's involvement has been showing sharp rising trend as under:YearTaka in Million

200048004.80

200154666.30

200258889.10

200360476.80

200474919.70

200572912.20

2006128809.00

200784065.40

19. SWIFTSWIFT means High-value payment market infrastructures focus primarily on security and resilience to support time-critical payments, efficiency to have the right trade-off between risks and cost. Liquidity cost reduction by early finality, easy collateral coverage and better liquidity management through real-time interactive services Balancing cost, efficiency and risk are your key requirements, and SWIFT meets them with a reliable, secure and reusable messaging infrastructure, supporting international and proprietary standards. More than 62 high-value payments clearing and settlement systems covering more than 90 countries and carrying more than 240 million payments a year, rely on SWIFT for secure messaging services and common message standards essential to their smooth operation. Because customers are multilateral, customers need a trusted third party like SWIFT to provide secure, reliable and proven messaging solutions. SWIFTs offering is more compelling in terms of cost and risk than alternatives, thanks to reusability of participants existing SWIFT infrastructures, value-added services such as FIN Copy, and standard support services. SWIFT solutions for high-value payment clearing systems support the messaging layer for payment transaction processing, cash management, business administration functions, reporting and generic communication. 19.2. THE FUNCTIONS OF SWIFT

SOLUTIONS FOR For payments Cash Reporting Supporting your real-time account information needs Payments and cash management Economic changes in the payments landscape have forced the banking community to find new ways to reduce their operational costs, mitigate their liquidity risk and increase the revenue and efficiency of their core payment products. Under the pressure of regulators, the cash management service offering becomes more transparent to meet new customer expectations. While conforming to regulation is a must, service quality becomes a key differentiator. SWIFT has developed offerings in payments and cash management to help the banking community meet these urgent challenges: Enhance customer service: automate exceptions and investigations in order to reduce enquiry turn-around time and to provide transparency on enquiry status to your customers, provide a compelling value proposition for corporate or person-to-person retail payments for immigrants (workers remittances) including mobile payments. Improve liquidity and risk management: receive end-of-day as well as intra-day cash reports information vital to get visibility on cash positions across your organization and to improve liquidity management. In addition, SWIFT is considering extending its value proposition to include liquidity risk management tools. Increase operational efficiency and save costs: SWIFTs single window allows you to rationalize your connectivity channels with: 1. Correspondent banks for clearing and settlement of domestic or foreign currency payments using SWIFTs payments clearing messaging services2. High value payments clearing and/or settlement systems operating on a real-time gross settlement basis using SWIFTs secure and reliable FIN domestic services for high value payment market infrastructures 3. Retail payments clearing systems using SWIFTs cost efficient services for retail payments market infrastructures: the services help to clear batches of payments prior to settlement at discrete intervals, with or without netting.

List of SWIFT Branch/Office

SL No.Branch/OfficeSWIFT Code

1.Janata Bank Ltd. Head OfficeJANBBDDH

2.Janata Bhaban Corp. BRJANBBDDHJBC

3.Local Office, DhakaJANBBDDHJBD

4.Dilkusha Corp. BR, DhakaJANBBDDHDCB

5.Motijheel Corp. BRJANBBDDHMCA

6.Foreign Ex. Corp. BR, DhakaJANBBDDHFEC

7.Imamgonj Corp. BRJANBBDDHIMA

8.Topkhana Corp. BRJANBBDDHTKD

9.Kamal Ataturk Corp. BR, DhakaJANBBDDHKAC

10.Shantinagar Corp. BRJANBBDDHSNB

11.Ramna Corp. BR, DhakaJANBBDDHJRD

12.B B Road Corp. BR, N.GonjJANBBDDHBNG

13.Bogra Corp. BRJANBBDDHBOG

14.Rangpur Corp. BRJANBBDDHRNP

15.MK Road Corp. BR, JessoreJANBBDDHJMK

16.Khulna Corp. BRJANBBDDHKDA

17.Barisal Corp. BRJANBBDDHBSL

18.For. Ex. Corp. BR, SylhetJANBBDDHFES

19.Comilla Corp. BRJANBBDDHCCN

20.Laldighi East Corp. BR, Ctg.JANBBDDHLDE

21.Foreign Ex. Corp. BR, Ctg.JANBBDDHCDA

22.SK Mojib road Corp. BR, Ctg.JANBBDDHSMS

23.Sadharan Bima Bhaban Corp. Ctg.JANBBDDHSBB

24.Dinajpur Corp. BRJANBBDDHDNJ

25.Faridpur Corp. BRJANBBDDHFAR

((http://www.janatabank-bd.com/jb7.htm, 2013), 2013)Overseas Branches

Branch/OfficeSWIFT Code

Janata Bank Ltd. UAEJANBAEAA

Abu Dhabi BRJANBAEAAAUH

AL-AIN BRJANBAEAAALN

DUBAI BRJANBAEAADXB

SHARJAH BRJANBAEAASHJ

CONCLUSION

Nearly edge is seen while inspecting the Foreign Exchange Department of Janata Bank Ltd.s success. That means, this bank successfully finished last year with an appreciable performance .JBL attained first place in the last year among the government banks forts flawless completion of blending of solid quality and sincere service. For a greater achievement and attain more priority among the customers and clients JBL can walk through the way under some precision direction: JBL should approach more attractive facilities with clear go ahead. To survive in the cut throat competition JBL must step into launching ATM service as well as debit and credit card facilities. Banking sector moves toward a very newer and wider type of voyage that results in ending up with some critical marketing overkill. Now a dayspeople are looking for a further opportunity to have some scheme in the same bank from where they have collected the remittance. Total revival of investment of commodity in commercial sector requires a very rapid and complete action to provide a more accurate and fast recycling of invest/ Less interesting export facilities should be proven improved. Finding out the newer destination of our export goods and ending up with being adjusted with the newer sectors customs. With successful promotional programs JBL can attract more people from this particular walk of life. The overall matter of foreign remittance should be driven under a complete computerized system having a main server country wide to keep up a congenial environment.

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