INTERNSHIP REPORT
ON
ACCOUNTING PROCEDUR OF DIFFERENT
DEPOSIT ACCOUNTS OF
SOCIAL ISLAMI BANK LIMITED
THIS INTERNSHIP REPORT IS SUBMITTED FOR THE PARTIAL
FULFILMENTOF THE DEGREE OF BECHELOR OF BUSNESS
ADMINISTRATION WITH A MEJOR IN ACCONTION
PREPARED BY:
NAME: SHARMIN AKTER
METRIC NO: B-083246
PROGRAM: BBA
SEMESTER: 8th SEMESTER
INTERNSHIP DURATION: THREE MONTHS
DATE OF SUBMISSION:
Department of Business Administration
Faculty of Business Studies
International Islamic University Chittagong
THIS INTERNSHIP REPORT IS SUBMITTED FOR THE PARTIAL
FULFILMENTOF THE DEGREE OF BECHELOR OF BUSNESS
ADMINISTRATION WITH A MEJOR IN ACCONTION
PREPARED BY:
NAME: SHARMIN AKTER
METRIC NO: B-083246
PROGRAM: BBA
SEMESTER: 8th SEMESTER
Supervised By:
Name: Mrs.Najneen Jahan Chy
Designation: Associate Professor
INTERNSHIP DURATION: THREE MONTHS
DATE OF SUBMISSION:
------------------------------------------------Signature of Supervisor
Department of Business Administrati
Faculty of Business Studies
International Islamic University Chittagong
Letter of Transmittal
Date: 15th june, 2012
To
Head
Department of Business Administration
IIUC
Subject: Submission of Internship Report.
Dear Madam,
It is my great pleasure to submit my Internship Report on ACCOUNTING
PROCEDURE OF DIFFERENT DEPOSITE ACCOUNTS; a case study of Social
Islami Bank Ltd.” which was assigned to fulfill my B.B.A Program.
During my Internship period, I have come to learn many valuable experiences. I have
prepared my Internship Report on the basis of my theoretical and practical
experiences. The report attempts to describe my observations, learning’s and
experiences about “Social Islami Bank Limited”.
I have tried to serve my best to convert my knowledge to this report .It may arise error
in my report for my limitation. So, consider me as your kindness, if any mistake arises
the report.
Finally I shall be glad to answer any kind of query relating to this report, if necessary.
Thanking You
Sincerely Yours,
______________
Sharmin Akter Shanta
June 15th , 2012
Executive Summary
In this era of present globalization banking sector is playing its important role to keep
the people moving with the movement of the modern technology. The implementation
of automation in banking has ensured the mathematical accuracy and promptness. It
has made banking transactions speedier, easy and comfortable.
Social Islami Bank Limited has achieved a very satisfactory level of progress in all the
areas of its operation. It has a good number of clients’ .These Bank already have
shown a good performance in relation to customer. SIBL General Banking department
is actively participating in the growth of overall profit, and it increasing the number of
loyal customers by providing well behaves and well service.
The main objective of the study is to know about the overall performance of Deposit
practice in Social Islami Bank Ltd with a specific objective determining the level of
customer satisfaction about the deposit service of SIBL, Alonker mor Branch.
The report is based on empirical as well as theoretical analysis. The data were
obtained from the bank training books, websites and various publications, close
observation and annual report of financial position of SIBL, Alonker mor Branch, to
know the performance of General banking department. Collected data and
information were tabulated and analyzed carefully in order to make the report
informative.
The survey to know the level of customer satisfaction is high.. The result is the
customer are not fully satisfied with the departments sincerity, getting individual
attention, knowledge of the employees to understand customers specific needs , that
means they might not get specific solution all the time from this department.
Customers also dissatisfied about the attractiveness of physical facilities, physical
appearance of the employees and keeping customers informed about when services
will be performed by the department.
Finally the result of this survey can be used as a message from the customers to the
bank .The message is the department can be more reliable, empathic, and tangible.
The survey is essential in providing the bank manager with a visual representation of
the customer view on the bank’s attributes and position in the marketplace.
TABLE OF CONTENTS
Chapter 1: Indruduction
1.1 Preface
1.2 Origin of the report
1.3Objective of the report
1.4 Scope of the report
1.5 Methodology of the report
1.6 Limitation of the study
Page
01
02
02
03
04
Chapter 2: About the Social Islami Bank Limited
2.1 An overview of SIBL
2.2 Corporate Vision of SIBL
2.3 Corporate Mission of SIBL
2.4 Corporate Values of SIBL
2.5 Major Responsibilities
2.6 The Shariah Supervisory Committee (SSC)
2.6.1 Formation of the Shariah Supervisory Committee (SSC)
2.6.2 Functions of the Committee
2.7 Some Corporate Information
2.8 Branches of SIBL
2.9 Financial Highlights
2.10 Performance of the bank (SIBL): A brief history of the bank
Chapter 3: Accounting Process
3.1 Accounting procedure
3.1.2 types of accounting
3.1.3 Accounting function
3.1.4 Objectives of Accounting Procedure
3.2 Deposit Accounting Process
3.3 Deposit Accounting Types
3.3.1 Money market account
3.3.2 Savings accounts
3.3.3 Time deposit
3.3.4 Call deposit
3.4 Advantages of having a bank deposit account
3.4.1 Keeping own money liquid
3.4.2 Get started with minimal cash
3.4.3 FDIC or NCUSIF insured
3.4.4 High-yield savings options
3.4.5 Checking accounts
3.5 Growing bank deposits set to boost economy
Chapter4: Accounting Procedure of Deposit Accounts
4.1Accounting Procedure
4.1.1 Source Documents
.
4.1.2 Journals
4.1.3 Ledgers (T-ACCOUNTS)
4.1.4 Trial balances
4.1.5 Financial Statements
4.2 Accounting procedure in ababil
4.2.1 Input Depositor information in the Form
4.2.2 Depositor Information
4.2.3 For Institution/office/company/farm etc:
4.2.4 Software used by SIBL
4.2.5 Ababil - Integrated Islamic Banking Solution
4.2.6 Function of ABABIL software:
4.2.7 Why SIBL use ABABIL:
4.2.7 Benefits of the Ababil software
4.2.8 Feature of the software
4.2.9 Voucher prepared by ABABIL as account statement
4.3 Common Deposit Accounts of SIBL and Accounting procedure of them
4.3.1 Al Wadiah Current Account
4.3.2 Mudaraba Savings Deposit Accounts
4.3.3 Mudaraba Term Deposit Accounts
4.3.4 Cash Waqf. Deposit Account
4.4 Different DPS(Deposit Pension Scheme)Accounts
4.4.1 Subarno Rekha - Special Savings Scheme for Women
4.4.2 Kafela - Mudaraba Hajj Scheme
4.4.3 Sonali Kabin - Mudaraba Mohorana Savings Scheme
4.4.4Sukher Thikana - Special Savings Scheme for lower-income group
workers
4.4.5 Sharno Sikhor - Mudaraba Kotipoti Scheme
4.4.6 Suborna Diganto - Mudaraba Millionaire Scheme
4.4.7 Swapner Siri - Mudaraba Lakhopothi Deposit Scheme
4.4.8 SIBL Dipti - Mudaraba Education Savings Scheme
4.4.9 Sonali Din - Mudaraba deposit Pension Scheme
4.4.10 Sabuj Sayannho - Special Deposit Scheme for Senior Citizens
4.4.11 Samriddhir Sopan - Mudaraba Double Growth Deposit Scheme
Chapter: 01: Introduction
Preface
Origin of the Study
Objective to Study
Scope of the study
Methodology
Limitations
Preface
Banking system occupies an important place in a nation's economy because of its
intermediary role; it ensures allocation and relocation of resources and keeps up
the momentum of economic activities. In a developing country like Bangladesh,
the banking system as a whole has a vital role to play in the progress of the
economic development. The demand , motivations and priorities of the consumers
are the first crucial steps towards the improvement of customer satisfaction .And
customer will satisfied if they get proper products and services .
Deposits is the most important department of any bank. It consists of
current,saving and fixed deposit transaction etc, the core objectives of deposit is to
increase the economic growth of the nation. this department is very importent for
the bank, which requires knowledge based banking activities. N o c o u n t r y c a n
survive without a perfect Deposit mechanism, that’s why I put
emphasis on this department .
Quality customer service by D e p o s i t department is essential to building
customer relationships .The high level of customer loyalty depend on the quality of
the core services. If a service provided by this department is not up to the mark
then a company can lose its loyal customer. And it also can’t be able to get new
customers. The department should use new technology and should develop new
strategies for satisfying the customers. And if the manager and the department can
give different features in service then it will help the organization to come closer to
the customer and can highly satisfy. Today’s world is changing very rapidly as new
businesses are emerging by placing the old ones. In this new millennium, people feel a
growing uneasiness about the future. Many countries suffer from chronic high unemployment, a persistent deficit and deteriorating purchasing power. Like the other
businesses, banking sectors are also changing at an incredible pace. A banking institution
that allows money to be deposited and withdrawn by the account holder. These
transactions are recorded on the bank's books, and the resulting balance is recorded as
a liability for the bank, and represents the amount owed by the bank to the customer. A
modern deposit Accounting system could easily attract the customer .SIBL maintain this
modern deposit system for its respective customers. It becomes a challenge for the
economy. SIBL have to face these challenges.
Origin of the report
At the end of the graduation program (Academic part) the students are sent to
different organizations to get some real life experience as internees and the duration
of the program is three month. At the end of the internship program the internees are
supposed to submit an internship report as a requirement of the Internship program.
Moreover this program gives a student the opportunity to practice his knowledge of
theory in the field of practical life. SIBL alonker mor Branch is the place where I
have gathered experience about the motivational tools on employees. University
supervisor
Engr.
Rashid
Chowdhury,
Assistant
professor
Bachelor
of
Business
Administration has also approved the topic that I assigned for my internship report.
Objective of the study:
The first objective of writing this report is to fulfill the partial requirements of the
B.B.A program. Other objective of the report is to familiarize with the operation in
the Banking arena including Management overview of Bank and analysis of Banking
operation in different section. To grasp an idea about Bank involvement in general
Banking including Accounting procedure of different deposit scheme provided by the
Bank in Foreign Trade.More especially the objectives of the Internship Program are
as follows:
1. To know about the bank profile.
2. To know the different deposit accounts.
3 To understand the Accounting Procedure Guidelines, its objectives and benefits.
4. To identify the problems of Accounting Procedure.
5. To suggest some measures to overcome such problems
Scope of the study:
As I am an intern so the scope of the study is limited to the opinions of the customers
and the officials of Social Islami Bank, Alonker mor Branch, Chittagong only .The
report has been emphasized on the overall functions and performance of deposit
accounts in General banking department of SIBL, Alonker mor Branch, Chittagong.
Methodology:
Methodology comprises of all the activities that is required to conduct the study and
generate it into a report. In the following sections the methodology of the research
have been described on the basis of secondary data. In order to complete this report I
proceeded through a work plan. I physically visited and discussed with executives and
top level management of Bank .
Methods Of Data Collection:
The study is based on secondary data. Because most of my study is relating to general
banking section of SIBL.And there have no any fieldwork for my study.
Secondary data:
Relevant information have been collected from various publications, journals, product
brochures, official websites of SIBL, annual report 2011 and product books of SIBL
connected with this research were used to collect the secondary data.
Data analysis and interpretation
Quantative approach such as percentage methods are used for data analysis and
interpretation.
Limitations of the study:
Objective of the practical orientation program is to have practical exposure for the
students. Our tenure was for three month only, which was somehow not sufficient.
After working whole day in the office it was very much difficult, if not impossible to
study again the theoretical aspects of banking.
Others limitation as follows:
1. Past and present financial information that are confidential could not be accurately
obtained. Alike all other banking institutions, SIBL is also very conservative and strict
in providing financial information.
2. Another limitation was that the information gathered could not be verified for
accuracy.
3. Time constraint was another limitation restricting this report to be a more detailed
and analytical one. My supervisors are busy all the time and it was really difficult to
get hold of some of their time.
4. The study wasn’t done very successfully due to inexperience.
5. Lack of communication facilities. Because the employee of the company is very
much busy with their officials’ activities.
Chapter 2: Profil of the Social Islami Bank Limited
An overview of SIBL
Corporate Vision of SIBL
Corporate Mission of SIBL
Corporate Values of SIBL
Major Responsibilities:
Formation of the Shariah Supervisory Committee (SSC)
Functions of the Committee
Some Corporate Information
Branches of SIBL
Financial Highlights
Performance of the bank (SIBL): A brief history of the
bank
An overview of SIBL
The SOCIAL ISLAMI BANK LTD (SIBL), a second-generation bank, operating
since 22 November, 1995 based on Shariah Principles, has now 76 branches all over
the country with two subsidiary companies - SIBL Securities Ltd. & SIBL Investment
Ltd. Targeting poverty, SOCIAL ISLAMI BANK LTD. is indeed a concept of 21st
century participatory three sector banking model in one. in the formal sector, it works
as an Islamic participatory Commercial Bank with human face approach to credit and
banking on the profit and loss sharing: it is a Non-formal banking with informal
finance and credit package that empowers and humanizes real poor family and create
local income opportunities and discourages internal migration; it is a Development
Bank intended to monetize the voluntary sector and management of Waqf, Mosque
properties and introducing cash Waqf system for the first time in the history. In the
formal corporate sector, this Bank would, among others, offer the most up to date
banking services through opening of various types of deposit and investment
accounts, financing trade, providing letters of guarantee, opening letters of credit,
collection of bills, leasing of equipment and consumers’ durable, hire purchase
and instalment sale for capital goods, investment in low-cost housing and
management of real estates, participatory investment in various industrial,
agricultural, transport, educational and health projects and so on.
The bank has taken a renewed drive aiming at consolidating its business in more
focused areas covering SME and Agro-finance with emphasis on searching for
alternative delivery channel under which SMS banking and mobile based remittance
payment systems that are gradually introduced to disseminate the SIBL services to the
doorsteps of the customers. The bank has already introduced Internet banking and
launched some new products to strengthen its business. The products are Sonali Din,
Sommridhir Sopan, Sonchoy Protidin, Swopner Shiri, Shukher Thikana, Sabuj Chhya,
Sabuj Shayanho, Subarnolata, Subornarekha, Sanchaita etc. and Zamil ATM Debit
card.
SIBL is a pioneer in introducing on-line banking among all the Islami Banks of the
country with state-of-the-art banking software, which will enable the bank to perform
as any branch real time banking service to the clients. The state-of-the-art banking
software of the bank will enable to perform as any branch real time banking service to
the clients. SIBL is supported by core banking solutions and our products & services
are strongly backed by IT infrastructure, which are upgraded & expanded on
continuous basis.
SIBL has set its strategy to convert all its banking activities from traditional branchbased banking system to an ideal blending of both centralized processing unit (CPU)
and effective operation of branch that based on modern essence of banking.
The bank is running its payment system successfully through BACPS, BEFTN under
BACH in order to boost up its businesses in multiple dimensions. Adopting BACH
System as per guidelines of Bangladesh Bank, SIBL ensures security, safety and
hassle free faster transactions from end to end. Moreover, the bank is effectively
adopting regulatory guidelines on IT risk management. SIBL is quite conscious of its
social business responsibilities and is always trying to participate in various social
programs in the country under its CSR portfolio giving special emphasis on health,
habitat & education. The bank ensures to provide better integrated idea of formal,
informal & voluntary banking in the same
platform. SIBL has its unique feature to mobilize capital through CASH WAQF
program.
SIBL lays emphasis on employment generated, environment friendly and green banking
based investment keeping an eye on equitable distribution of resources over geographical
territory for sustainable growth of macro economy of the country.
The Bank's continuous effort has been to increase the shareholders' value, and be valued
as a compliant organization. The Corporate Governance systems in SIBL ensure transparency
and accountability at all levels in conducting business. SIBL in its journey towards
continuous excellence has changed its brand logo recently. We take pride in its new logo.
Corporate Vision of SIBL
In our journey towards continuous excellence we are striving to become the country's leading Islamic
Bank offering one-step service of an wide range of value added products and services meeting the needs
of our customers; conducting our business ethically in accordance with the laws of Shariah while
optimizing best utilization of the most modern state-of-the-art technological solutions through creation
of pro-active organizational culture based on sound team spirit, fairness, mutual understanding and
pragmatic leadership always remaining open to new ideas and adaptable to the best practices in the
market ensuring recognition and quality banking experience to our Customers and deliver best value to
all our stakeholders as well.
Corporate Mission of SIBL
*
Transformation into a service-oriented technology-driven profit earning Bank
* Ensure fast, accurate and best-in-class customer service
* Balanced & sustainable growth strategy
* Optimum return on shareholder's equity
* Introducing innovative Islamic Banking Products
* Attract and retain high quality human resources
* Empowering real poor families and create local income opportunities
* Providing support for social benefit organizations by way of mobilizing Funds and social services
Corporate Values of SIBL
*
Honesty
To be honest is ordained by the scripture – we stick to this value in all our service provision.
* Transparency
Remaining transparent in all acts is a virtue that's builds trust - we adhere to it.
* Efficiency
Efficiency implies perfection in any job done - we strive to render full satisfaction with it.
*
Accountability
To be accountable is to be responsible and above any suspicion - we are dutifully there.
* Reliability
We infuse reliability in customers' mind through habitual acts of dedicated service.
* Innovation
Our minds and eyes are open to the evolution in quality of life to innovate further benefits for
the service takers.
* Flexibility
Flexibility leads to better understanding and greater satisfaction - we pursue the quality.
* Security
Customers must feel secure with all our products and services - we keep on ensuring it.
* Technology
Modern life is technology dependent - we keep looking for the latest development to
provide the best in ease to our clients.
Major Responsibilities:

It deals with Money Market

It deals with Foreign Exchange Department.
Social Islami Bank limited is gradually growing up to establish itself in the Banking arena
of Bangladesh to be the market leader in terms of service quality and a trusted
partner in the development of Bangladesh.
Formation of the Shariah Supervisory Committee (SSC)
Article 104 of the Articles of Association of the Bank provides, On the licensing of the
Social Islami Bank Limited, an Islamic Shari'ah Supervisory Committee shall be constituted
with members from Fakihs/Islamic Scholars, Economists, Banker and Lawyers to advise the
company on the operation of its business in order to ensure that they do not involve any
element which is not approved by Shari'ah. The Shari'ah Supervisory Committee consists of 07
(Seven) members nominated by the BOD of the Bank.Shariah Supervisory Committee of the
Bank plays a vital role in framing and exerting policy for strict adherence of Shari'ah principles
in all activities of the Bank since its very inception. The Shari'ah Supervisory Committee,
which enjoys a high status in the structure of the Bank. Members of the Shariah Supervisory
Committee meet frequently and deliberate on different issues confronting the Bank on Shariah
matters. They give opinion and supervise to implement and comply Shari'ah principles in all
activities of the Bank.
Functions of the Committee
*
The function of the Shari'ah Supervisory Committee to offer views on matters related to the Bank
from time to time. The Shari'ah Supervisory Committee may require any papers from the Bank and
examine the same in order to ensure that all activities of the Bank are being carried out in accordan
with the Islamic principles.
*
To devote time and effort to devising more Shariah compliant transactional procedures, templates
banking products that enable the Bank to adapt to market trends while maintaining a high competi
edge in deposit procedures, investments and banking services
*
The SSC assist the BOD by way of advice on matters relating to Shari'ah. The BOD must respect
their recommendations on Shari'ah principles as it is committed to run the Bank strictly in accorda
with Shari'ah.
*
Analysing contracts and agreements concerning the Bank's transactions, as submitted by the
Chairman of the Board of Directors or any department/branch within the bank or requested by the
Board itself so that Shariah compliance can be evaluated and maintained.
*
Ensuring Shariah compliance in the implementation of all banking transactions and correcting any
breaches.
*
The SSC have a Secretariat with a Member-Secretary, who see whether the functions of the Bank
being carried out in accordance with the principles of Islamic Shari'ah. The Member-Secretary sha
remain responsible to the Shari'ah Supervisory Committee.
*
The status of the SSC shall be advisory to the BOD and Supervisory in respect of operational
activities of the Bank.
*
The Committee submits a complete annual report for the Board of Director, summarizing all the
issues referred to the Board, as well as its opinion on the Bank's transactional procedures.
*
The Shariah Supervisory Committee certifies the Annual report of the bank.
Some Corporate Information:
Social Islami Bank Ltd started its journey with the concept of 21st Century Islamic
participatory three sector banking model:
1. Formal Sector- Commercial Banking with latest technology;
2. Non-Formal Sector - Family Empowerment Micro-Credit & Micro-enterprise
program and
3. Voluntary Sector - Social Capital mobilization through CASH WAQF and others.
Branches of SIBL:
SIBL has 76 branches throughout the country. At every division SIBL has a branch
with a view to reach their service to their respective customers. The Bank's
continuous effort has been to increase the shareholders' value, and be valued as a
compliant organization. The Corporate Governance systems in SIBL ensure
transparency and accountability at all levels in conducting business. Social Islami
Bank Limited has achieved a very satisfactory level of progress in all the areas of its
operation. It has a good number of clients’ .These Bank already have shown a good
performance in relation to customer. SIBL General Banking department is actively
participating in the growth of overall profit, and it increasing the number of loyal
customers by providing well behaves and well service.
Financial Highlights
Fig in million Taka
Year Deposits Investment FX_Business Total Income Total Expenses Operating Profit Profit after Tax
1995 124.73
0.21
0
1.73
6.15
(4.42)
(4.42)
1996 417.81
211.50
342.95
19.3
38.23
(18.93)
(18.93)
1997 645.51
368.31
699.48
51.37
56.84
(5.46)
(5.47)
1998 2068.85
1171.40
1442.25
173.97
134.73
50.50
35.07
1999 3899.72
2192.03
1914.10
440.63
378.98
74.02
36.99
2000 4863.21
3522.25
3547.40
641.38
405.39
105.71
38.16
2001 10569.67 5499.25
6195.30
1214.25
613.29
302.00
144.39
2002 15141.34 7504.03
13520.07
1775.43
953.12
420.02
203.52
2003 19709.31 10059.11
19065.10
2385.84
1470.67
500.54
193.67
2004 19704.20 12887.30
18088.12
2458.25
1620.89
414.99
83.85
2005 16862.58 15096.83
17438.07
2199.65
1708.69
213.57
13.94
2006 16170.51 15312.90
23280.00
2530.90
1932.95
295.89
57.63
2007 19753.94 16440.26
23903.80
2995.45
2126.77
480.78
150.04
2008 24099.82 19951.30
33363.20
3363.08
2575.72
787.37
202.07
2009 31588.16 26580.58
39110.00
3781.26
2716.96
1064.31
431.52
2010 44850.77 36680.28
61931.00
5068.10
3429.47
1638.63
643.01
2011 66853.59 53908.57
105037.00
8512.22
5914.78
2597.43
1265.11
Performance of the bank (SIBL): A BRIEF REVIEW OF THE
ACTIVITIES
The authorized capital of the Bank is Taka 10,000 million, whereas paid-up capital of
the Bank stood at Tk. 2,087.81 million as at 31 December 2011 compared to Taka
2,691.71 million of 2009.
Capital
Paid up capital
10%
9%
Statutory Reserve
17%
64%
Retained Earnings
1% provision on
unclassified investment
Fig 2.1: Capital as on 31 December 2011 (Source: Annual Report 2011 as of SIBL)
Particulars
2011 (Figure in million Tk.)
2010(Figure in million Tk.)
1. Paid up capital
2987.81
2,691.73
2.Statury Reserve
788.23
560.89
3.Retained Earnings
422.73
297.01
4.1% provision on
479.79
358.86
-
-
-
6.12
unclassified investment
5.Investment Loss Offsetting Reserve
6.Exchange equalization
Total
4,678.56
3,914.61
Performance of Social Islami Bank Ltd
SIBL has diversified activities in retail banking, corporate banking and international
trade. From the very beginning it has obtained a solid foundation in respect of general
banking & Loans and Advance. Its total deposits received from customers and
investment of 2011 were Tk.803.97 million & Tk.724.55 million respectively.
. Growth in Profit:
Year
Amount(Tk.
In Million)
2011(up to 2010
June-2011)
171.53
250.74
2009
2008
217.58
210.09
300
250
Year 2011
200
Year 2010
150
Year 2009
100
Year 2008
50
0
2008
2009
2010
2011
Growth in Profit from year 2008
(Source: Statement of Performance as of SIBL)
Analysis: The year wise profit after income and expenditure was in an increasing
trend. Profit of 2011 (up to June2011) was 171.53 million.
Deposit accounts of Social Islami Bank Ltd.
SIBL has diversified activities in retail banking, corporate banking and international
trade. From the very beginning it has obtained a solid foundation in respect of general
banking & Loans and Advance. Its total deposits received from customers and
investment of 2011 were Tk.803.97 million & Tk.724.55 million respectively.
1. Growth in Deposits:
Year
Amount(Tk. In
2011
2010
2009
2008
66853.59
44850.77
31588.16
24099.82
Million)
Growth rate
177.40%
86.10%
31.07%
-----
177.40%
86.10%
31.07%
2008
2009
2010
2011
Figure 2.3: Growth in Deposits from year 2008
Analysis:
Since deposit is the life blood of the bank, SIBL drew-up series of action plan, both
short term & long term to raise the deposit base of the bank in line with the directives
of the Bangladesh Bank. The above graph shows the deposit position of SIBL form
2008 to 2011. There is an increasing trend of deposits from 2008 to 2011.In year
2011, the deposits of SIBL shot up to Tk.803.97 million from Tk.753.43 million as
recorded in Year 2010.
Deposits Accounts of SIBL:
During the year 2011, the bank drew up a series of action plans, both short term and
long term, to raise the deposit base of the bank in line with the Directives of the
Bangladesh Bank. The short term action plan included launching of special drives like
deposit mobilization in months of March-April 2011. As a result of continuous
evaluation monitoring we could significantly improved the liquidity position as well
as deposit mix in 2011. The following graph shows the customer deposit trend of the
bank:
Deposit of the bank shows a tremendous increasing trend. Total deposit of the bank
stood at Tk. 66,852.55 million compared to Tk. 44,850.77 million of 2010 which is
sharp 49.05% higher. To keep the deposit cost within the limit, the bank could
successfully maintain its deposit mix which is the most important in long term and
short term deposit planning.
Comparative total deposit mix of the bank for the year 2011 and 2010 is given as
under:
Yearly deposit growth rate:
Deposit Mix
Al-Wadeeah current &
Othed Deposit
Mudaraba Saving Deposit
Mudaraba Term Deposit
Other Mudaraba Deposit
Cash Wqf.
Total
Year-2011
8769.99
Year-2010
7705.82
Year 2009
6770.18
Growth
13.81%
3925.74
42699.28
11404.06
53.47
66852.55
3692.22
25245.31
8163.36
44.07
44850.77
3325.76
6.32%
69.14%
39.70%
21.33%
49.06%
Growth in deposits in alonker mor branch:
As the New branch of SIBL alonker mor branch gain the success to achieve the
customer satisfaction and trust as well. From the very beginning it has obtained a
solid foundation in respect of general banking & Loans and Advance. Its total
deposits received from customers within 2011 was 55.43 in million and 2012 is
190.97 in million respectively.
Year
Amount(TK in Millions)
Growth Rate
2011
150.77
----
2012
190.97
26.12%
Chart presentation of Growth in Deposits from the bigining of branch at 2011,oct.
26.12%
2011
2012
AS the new opening branch the growth is too fruitful and very much
efficient also with a view to growing profit,
Credit Rating Of SIBL
Year
Long Term
Short Term
Outlook
2009
A+
ST-2
Stable
CRISL (Credit Rating Information Services Ltd.)
2010
A+
ST-2
Stable
CRISL (Credit Rating Information Services Ltd.)
2011
A+
ST-2
Positive
CRISL (Credit Rating Information Services Ltd.)
F i n a n c i a l Pr o d u c t s o f S I B L
Rated by
SIBL, Halishahar Branch inaugurated in October, 2010. The branch helps the wage
earner people who live in abroad by providing various facilities to send their earnings
in this country. It also assists the industrial and agriculture sector by providing
financial services. SIBL is a full service Bank with adverse array of comprehensive
range of carefully tailored financial services and customer friendly uncomplicated
banking products gather for the needs of all customer segments. SIBL is supported by
core banking solution and their products and services are strongly backed by IT
infrastructure, which are upgraded and expanded on continuous basis. They are
providing customers’ service through on line facilities with centralized core solution
with the objective to provide higher satisfaction through state of the art technology.
Financial products and services of SIBL can be broadly classified as follows.
SIB Ltd. is providing the following products and services**General product: 1.Savings Account
2. Current Account
3. Short term deposit
**Deposits Scheme:
01. Mudaraba Monthly Profit Deposit Scheme
02. Hajj Deposit Scheme
03. Mudaraba Millionaire Scheme
04. Mudaraba Special Savings (Pension) Scheme
05. Mudaraba Term Savings Scheme Based on Monthly
Deposit
06. Mudaraba Education Savings Scheme
07. Mudaraba Bashastan
**Savings Scheme:
08. Al-Wadiah Current Deposit
09. Mudaraba Savings Deposit
10. Mudaraba Term Deposit
11. Mudaraba Notice Deposit
12. Mosque Waqf Property Development Scheme
13. Cash Waqf Scheme
**Other new Deposits scheme: 14.Sonali Din
15.Somridar Sophan: Mudaraba Double Benefit Deposit
Scheme
16.Suborno Rekha
17.Shabuz Shayannya
18.Suborno Lota
19.Shabuj Chaya
**Investment:
01. Micro Investment Scheme
02. Micro Enterprise Investment Scheme
03. Joint Scheme
04. Development & Rehabilitation Scheme
05. ILO, UNICEF
**Other special aspects: SIBL is providing the following services:
01. Locker Service
02. Utility Bill Receive
03. Guarantee Issue
04. Consultancy
05. Any Branch Banking
06. ATM booths (Debit Card, Credit Card)
07. Online Account.
08. Space for Prayer.
09. Women investors are encouraged.
10. Loan Facility (Condition apply).
The bank is going to introduce SMS banking, Internet banking and mobile-based
remittance payment systems. Under the newly-planned IT scheme, Visa Card, Debit,
Pre-paid, Remittance cards are designed to be issued to the clients in support of its
strategy to provide customer happiness and comfort.
Alonker Mor Branch, where I did my Internship program:
Out of 76 branches one of the branch is Alonker Mor Branch . It was open at 11
oct,2011.It is located in Alonker Shopping Complex,(2nd floor), Alonker Mor,
Pahartali, Chittagong. There are eight officers and five staffs.
Organizational Structure of SIBL, Alonker Mor Branch
SEO
EO
AVP
(Credit)
AVP
(Trade Finance)
Senior Officer
SEO
SEO
Officer
Officer
Senior Officer
Junior Officer
Assistant Officer
Officer
C h a p t e r 3 : Accounting Process
Accounting procedure
Deposit Accounting Process
Deposit Accounting Types
Advantages of having a bank deposit account
Growing bank deposits set to boost economy
Accounting procedure:
Accounting method that a company uses to handle routine accounting matters. These
procedures may be written in a manual to assist new employees in learning the
system. Method or technique used to uncover, record, or summarize financial data in
the preparation of financial statements.
Accounting procedure is the process of identifying, measuring and communicating
information to permit judgment and decision by users of accounts.
It is a tool for recording, reporting and evaluating, in monetary terms, the transactions,
events and situations that effect an enterprise. Accounting is a basic process required
to operate any organization. Every debt must be paid in full and on time, and all
incoming monies must be noted. Depending upon the size of an organization,
developing an accounting system that is accurate and efficient can be a challenge.
Although many small businesses keep track of all financial activity manually through
the use of a physical ledger.
Objectives of Accounting Procedure
1. To collect and record data correctly.
2. To classify, summarize and interpret accurate and reliable financial data for
decision making by management.
3. To prevent and detect fraud, waste and theft from the organization.
4. To generate financial statements for managers, creditors and lenders
.
Accounting function consists of following five types of
activities:
1. Collection and recording of data.
2. Classification of data
3. processing of data including calculating and summarizing
4. Maintenance or storage of results
5. Reporting of results
Accounting serves many purposes. It is broadly divided in three
types according to the purpose served by it. These three types of
accounting are:
1. Basic accounting
2. Management Accounting
3. External Accounting
Basic accounting, also called Bookkeeping, represents the earliest application of
accounting. It serves the purpose of facilitating the operating activities of an
enterprise involving financial transactions. For example to determine the money to be
paid to suppliers, or to be collected from customers.
The information available from the basic accounting can be further analyzed and
presented to management of a firm to help them in their planning and controlling
functions. This is the function served by management accounting.
With advent of large corporation the ownership of companies got separated from
management, and a need arose for providing information on activities and
performance of companies to shareholder and other stakeholders outside the
company, not involved in direct operation or management of company. External
accounting meets the need for this type of external accounting.
Deposit Accounting Process
A deposit account is a savings account, current account, or other type of bank
account, at a banking institution that allows money to be deposited and withdrawn by
the account holder. These transactions are recorded on the bank's books, and the
resulting balance is recorded as a liability for the bank, and represents the amount
owed by the bank to the customer. Some banks charge a fee for this service, while
others may pay the customer interest on the funds deposited.
Deposit Accounting Types

Checking accounts: A deposit account held at a bank or other financial institution,
for the purpose of securely and quickly providing frequent access to funds on
demand, through a variety of different channels. Because money is available on
demand these accounts are also referred to as demand accounts or demand
deposit accounts.

Money market account: A deposit account with a relatively high rate of interest,
and short notice (or no notice) required for withdrawals. In the United States, it is
a style of instant access deposit subject to federal savings account regulations,
such as a monthly transaction limit.

Savings accounts: Accounts maintained by retail banks that pay interest but can
not be used directly as money (for example, by writing a cheque). Although not as
convenient to use as checking accounts, these accounts let customers keep liquid
assets while still earning a monetary return.

Time deposit: A money deposit at a banking institution that cannot be withdrawn
for a preset fixed 'term' or period of time. When the term is over it can be
withdrawn or it can be rolled over for another term. Generally speaking, the
longer the term the better the yield on the money.

Call deposit: A deposit account which allows to withdraw the money without
penalty, mostly without notification to the bank. Often it bears favourable interest
rate, but also a minimum balance to take advantage of the benefits
Advantages of having a deposit account:
While deposit accounts aren't typically known for their high interest rates,
they do offer numerous advantages over other savings options. Consider
these savings account advantages before putting your money in a CD or other
investments.

Keeping own money liquid
deposit accounts and money market accounts allow you to withdraw your
money at any time, which is rarely an option with CDs or long-term investment
options. Savings accounts allow for unlimited withdrawals by teller, mail or
ATM, but federal regulations limit you to six telephone, electronic or
preauthorized transfers per month. Keep in mind, only three of these
withdrawals can be by draft, check or debit card. Nevertheless, you can
access the money in your savings account when you need it most.

Get started with minimal cash
If you don't have a lot of money to invest, you can begin your deposit
habits using a savings account. Savings accounts usually require a minimum
amount to get started, sometimes $1 to $25, but get the details before you put
your money in. Many institutions require significantly more money in deposit
accounts, and will charge a considerable monthly fee if you don't maintain that
balance. Simply ask or read the details before opening your savings account.

FDIC or NCUSIF insured
Your money is extremely safe in a savings account or money market account,
making it a great location for secure saving. Depending on if your money is in
a bank or credit union, the Federal Deposit Insurance Corporation, or FDIC, or
the National Credit Union Share Insurance Fund, or NCUSIF, will insure your
savings account money up to $250,000.

High-yield savings options
Some deposit s accounts offer higher interest rates than others. These highyield options listed on Bankrate.com are ideal for long-term saving, such as
emergency funds. Most of these high-yield savings accounts are strictly
online, which decreases the bank's overhead, allowing for these higher
interest rates. If you are willing to do all of your banking online, you may see
substantial returns on your money compared to a local branch.
Growing bank deposits set to boost economy
THE banking sector could contribute 9,3 percent to the Gross Domestic
Product in a year as growing deposits allow greater financial mediation by
financial institutions.
According to FBC Securities, the banking sector had weathered economic
drawbacks from the decade of instability and was now poised to play a major
role in economic growth.
"In light of these developments, the banking sector has made a dramatic
turnaround since then," said the FBC, "with the money spinning sector
expected to contribute 9,3 percent to any country's GDP for a year."
FBC Securities said an efficient and healthy financial system was a vital
component for faster economic development.
Other major contributors to GDP are agriculture, with an estimated 16
percent, mining at about 15 percent and manufacturing, which reportedly
contributes just over 10 percent to national output.
"Judging from a casual relationship between the financial sector development
and economic recovery, the banking sector stands a huge chance to remain
on the mend," the securities firm said.
A new lease of life was breathed into the financial sector in early 2009,
following the adoption of the multi-currency system, which helped to restore
confidence in the sector, reigniting the culture of saving.
Economic analyst Mr Witness Chinyama said the banking sector contribution
had all along been underestimated, although the sector plays a significant
role in economic growth and development.
Chapter4
Accounting Procedure of Deposit Accounts
1Accounting Procedure
Accounting procedure in ababil
Common Deposit Accounts of SIBL and Accounting procedure of them
Different DPS(Deposit Pension Scheme)Accounts
Accounting Procedure of SIBL:
1. SOURCE DOCUMENTS – Source documents are documents, such as cash
slips, invoices, etc. that form the source of (and serve as proof for) a transaction. In
other words, they are the first documents that exist relating to a transaction.
Invoices, cash slips, receipts, check counterfoils, bank deposit slips and even internet
payment confirmations are all source documents.
2. JOURNALS - These are chronological (date-order) records of transactions entered
into by a business. Journals are that first basic entry of debit and credit for each
transaction. In the examples we have been doing in the previous chapters, where we
have debited one account and credited another, we have been doing journals.
3. LEDGER (T-ACCOUNTS) - The ledger is a collective term for the accounts of a
business. (A ledger of accounts is like a school of fish). The accounts are in the shape
of a ‘T’ and thus are often referred to as ‘T-accounts’. In this step we take all the
debits and credits (journals) relating to one account – let’s say ‘bank’ – and draw up
an account for bank that shows all the transactions relating to it.
4. TRIAL BALANCE - A sheet displaying all the accounts of a business, drawn up as
a trial (test) of whether the total of all the debit balances equal the total of all
the credit balances (A balance is the amount of an item at a point in time. For
example, The balance in the bank account on the 1st of January was $5,000.).
The trial balance is prepared as a final check just before the financial statementsare
drawn up.
5. FINANCIAL STATEMENTS - A statement is a report. Financial statements are
the most important reports of a bank. These statements are prepared from the
information in the trial balance. The purpose of these statements is to show the reader
the financial position, financial performance and cash flows of a client, as well as
other useful information concerning the bank.
Common Deposit Accounts of SIBL
Based on customer needs to secure customer future SIBL have design an array of
deposit products.
Al Wadiah Current Account
ALWADIAH Current Deposit A/cs are opened on proper introduction with minimum initial
deposit
fixed by the Bank.
ALWADIAH Deposit is accepted on ALWADIAH principles which mean al Amanah with
permission to use. According to this principle Bank can use the fund of the account alongwith
other funds as per Shariah at bank's own risk. Account holder(s) will not share any profit/loss.
The Law and regulation of Bangladesh, usual customs and procedures common to banks in
Bangladesh including Islamic Banking Principles shall apply to and govern the conduct of
account opened with the Bank.
Withdrawal can be made only through cheques issued by the bank.
The A/c. holder(s) shall preserve the cheque book with utmost care so that it might not be
lost or stolen. For any misappropriation taken place through any such stolen or lost cheque, the
Bank shall not be held responsible.
The depositor shall take back the pay-in-slip after deposit of any money or cheques etc. clearly
specifying the number and title of account in the slip. All cheques, DD/PO etc shall be crossed
before deposit.
Bankers shall note "Stop payment" of the account holder with due care. Payment of any such
cheque, the Bank shall not be held responsible.
Any change in the address of the depositor should be immediately communicated to the bank. No
responsibility can be accepted by the bank for delay, non-delivery etc. of letters, remittances etc
sent through Post office and other agents.
Bank makes entry in the account with due care. However, for any wrong entry, the Bank reserves
the right for adjustment/correction and no responsibility can be accepted by the bank for any loss
caused by the caused by the account holder due to such inadvertent/wrong entry passed by the
Banker.
The Bank reserves the right to close any account without notice and alter, add any or all of the
rules and such altered/additional rules shall immediately thereafter be deemed to be binding on
the account holder.
Account Holder: Salma Enterprise
A/C No: 076133000034
Type of Account: Al Wadiah Current Account
Opening Date :16/04/12
Last Tr. Date: 29/09/2012
Date
Code
Cheque/Instr
Particulars
Balance B/F
Debit
Credit
01/11/20
12
11/11/20
12
13/11/20
12
15/11/20
12
19/20/20
12
20/11/20
12
20/11/20
12
21/11/20
12
22/11/20
12
22/11/20
12
22/11/20
12
26/11/20
12
26/11/20
12
201
CAA0606984
9
V-
Cash withdraw
2,95,000
000
Cash deposit
000
Cash withdraw
4,00,000
Cash withdraw
5,00,000
000
101
CAA0606985
0
CAA0606879
5
V-
10,00,00
0
000
Supplier payment
000
1,00,000
102
V-
Cash deposit
000
3,00,000
203
CAA0606875
6
V-
Clearing Debit
5,00,000
000
Transfer
000
cash withdraw
16,500
Transfer
10,00,000
000
101
CAA0606876
3
CAA0606874
5
V-
10,40,20
0
000
Cash deposit
000
1,99,000
101
V-
Cash deposit
000
8,00,000
203
CAA0606871
2
Clearing Debit
10,00,000
000
Total
37,11,500
34,39,20
0
102
201
201
102
201
202
Balance
3,12,393.1
7
17,393.17
10,17,393.
17
6,17,393.1
7
1,17,393.1
7
2,17,393.1
7
5,17,393.1
7
17,393.17
10,57,593.
17
10,41,093.
17
41,093.17
2,40,093.1
7
10,40,093.
17
40,093.17
Mudaraba Savings Deposit Accounts
*Mu
*
By providing Introducer of the account as required by the bank and by depositing a minimum amount any depositor or multiple
depositor can open single or joint account. Any educational institute, Club, Association or Social institutes can open this account.
*
The bank may merge amount collected through this deposit and may invest in any shariah allowed investments.
*
After determining the annual profit/loss the depositor will get his part of profit.
*
In case of balance declining below bank stipulated margin in any month profit shall not be provided for that month.
*
*
To
Mudaraba i.e. Deposit of one party and on the basis of operation by another party this deposit is taken.
Any amount can be deposited in any working hour but for applying profit the lowest amount from 6th day till the last day of the month
will be taken as the deposit of that month.
Amount must be withdrawn only by bank issued instruments like cheques.
*
Amount can be withdrawn Twice a week but highest 4 times a month. One fourth of the deposited amount or Tk. 2000/-, the lowest
can be withdrawn without notice. If any amount exceeding the above is withdrawn without providing 07 days prior notice then no profit
will be applied for that month.
*
If an account is closed before the declaration of current years profit rate then the depositor will have to take profit as per previous
years declared profit rate.
*
The Bank has the right to deny opening any account or can close down any existing with showing any reason.
*
The bank operates the client accounts with utmost attention but still if any miscalculation occurs the bank holds the right to make
adjustments and rectify the problems. But in this situation if any miscreants occur which is caused by the client the bank will not be
hold liable for that.
*
The Bank may change / amend / rectify any rules and regulations of this account and the client must abide by the rules.
*
The depositor by will may contribute a minimal percentage to his selected Social Development works.
open a Mudaraba Savings Deposit account in our Bank the following rules and regulations are applied:
A/C No: 076134000225
Account Holder: MD Musa
Type of Account: Mudaraba Saving Account
Opening Date :16/04/12
Last Tr. Date: 29/09/2012
Date
Cod Chequ
e
e/
Instr
Particulars
Debit
Credit
Balance
0.00
3,500.0
0
42,177.7
5
45,677.7
5
0.00
1,000.0
0
46,677.7
5
0.00
1,000.0
0
47,677.7
5
2,000.0
0
0.00
0.00
45,677.7
5
50,177.7
5
51,177.7
5
BalanceB/F
03/07/20
12
102
V-
08/07/20
12
102
V-
19/07/20
12
102
V-
22/07/20
12
22/07/20
12
12/08/20
12
202
V-
CASH DEPOSITSOURCE : Agrabad
Branch
CASH DEPOSITSOURCE : Agrabad
Branch
CASH DEPOSITSOURCE : Agrabad
Branch
Standing Instruction
101
V-
CASH DEPOSIT
102
V-
22/08/20
12
26/08/20
12
202
V-
CASH DEPOSITSOURCE : Agrabad
Branch
Standing Instruction
102
V-
06/09/20
12
10/09/20
12
101
V-
102
V-
10/09/20
12
102
V-
12/09/20
12
102
V-
19/09/20
12
102
V-
20/09/20
12
29/09/20
12
202
V-
CASH DEPOSITSOURCE : Agrabad
Branch
CASH DEPOSITSOURCE : Agrabad
Branch
CASH DEPOSITSOURCE : Agrabad
Branch
CASH DEPOSITSOURCE : Agrabad
Branch
Standing Instruction
101
V-
CASH DEPOSIT
CASH DEPOSITSOURCE : Agrabad
Branch
CASH DEPOSIT
Total
0.00
2,000.0
0
0.00
4,500.0
0
1,000.0
0
2,000.0
0
49,177.7
5
51,177.7
5
2,000.0
0
5,000.0
0
53,177.7
5
58,177.7
5
0.00
1,000.0
0
59,177.7
5
0.00
3,000.0
0
62,177.7
5
0.00
5,000.0
0
67,177.7
5
2,000.0
0
0.00
0.00
65,177.7
5
77,177.7
5
0.00
0.00
6,000.0
0
0.00
12,000.
00
41,000.
00
Mudaraba Term Deposit Accounts
Mudaraba Term Deposits are accepted by the bank with a sum of Tk. 5000 or above (multiple of
1000) from individuals (single and joint), firms (propietorship/partnership), limited companies,
autonomous bodies, charitable institutions, association, educational institution, local bodies,
trusts, etc, against issuance of non transferable receipts in acknowledgement of MTD account
may be opened in the names of minors jointly with their guardians, for example :
Received from Mr. X Guardian of Mister/Miss.... (Minor)
* The mudaraba term deposits are accepted for periods of 12, 24, 36 months. Weightage on the
rate of return is given to deposits of longer maturity.
* The Bank reserves the right to invest the funds received in mudaraba term deposit accounts,
in its sole judgement, in any interest-free "Halal" business it deems fit.
* Mudaraba term deposit account holder will share the profit of investment with Social Islami
Bank Ltd, at the rate declared by the bank from time to time. Any loss which cannot be covered
by the investment loss offsetting reserve will be adjusted from Mudaraba fund and in that case
the bank shall not take any remuneration for the service rendered in managing the fund.
* The profit earned on Mudaraba Term Deposit account will be credited as determined by the
bank as its sole direction on the basis of its net working results at the end of the year, within a
reasonable time from the dae of the close of the books of accounts of the bank. The banks
decision in this respect will be final & binding on the Mudaraba Term depositors. If the
Mudaraba Term Deposit account is closed before declaration of profit of current year, the
depositor shall accept profit at the rate declared in the preceding year. In that case, both the bank
& the depositor will relinquish their claim on difference amount of profit, which may accrue at
the close of the year.
* The account holder is not allowed to withdraw the amount before maturity date. But on
obtaining the Bank's prior consent the depositor(s) may withdraw the deposit before maturity
without any profit i.e. no profit no loss basis.
* MTD account holder may withdraw the profit amount annually if he so desires on condition
the final adjustment. If needed, will be made at the end of the year. MTD account holder will
give an undertaking to that effect.
* If the profit amount is not withdrawn it will automatically be added to the principal amount
annually and the entire amount will earn profit/loss.
* MTDR is not transferable instrument & as such it cannot be endorsed in favor of others.
* The MTDR should be preserved properly. In case of loss, the account holder should notify the
issuing branch immediately by quickest possible means so that the bank can take care of.
* Matured deposit if not encashed within one month of maturity, the deposit shall automatically be
renewed for the period it kept before.
* Any change in the address of the depositor should be immediately communicated to the bank. No
responsibility can be accepted by the bank for delay, non-delivery etc. of letters, remittances etc
sent through Post office and other agents.
* The bank retains the right of refusing to accept any deposit from any person in MTD account
without assigning any reason.
* The bank reserves the right to add or alter any or all the rules governing this scheme and such
altered or additional rules shall be immediately thereafter be deemed to be binding on all
depositors.
* The bank may merge amount collected through this deposit and may invest in any shariah
allowed investments.
* After determining the annual profit/loss the depositor will get his part of profit.
* I n case of balance declining below bank stipulated margin in any month profit shall not be
provided for that month.
* Any amount can be deposited in any working hour but for applying profit the lowest amount
from 6th day till the last day of the month will be taken as the deposit of that month.
* Amount must be withdrawn only by bank issued instruments like cheques.
* Amount can be withdrawn Twice a week but highest 4 times a month. One fourth of the
deposited
amount or Tk. 2000/-, the lowest can be withdrawn without notice. If
any amount exceeding the above is withdrawn without providing 07 days prior notice then no
profit will be applied for that month.
* If an account is closed before the declaration of current years profit rate then the depositor
will have to take profit as per previous years declared profit rate.
Account Holder: Nasrin Sultana
A/C No: 076530001172
Type of Account: MTDR1 Month Client Account
Opening Date : 30/10/2012
Last Tr. Date: 03/12/2012
Date
30/10/2012
02/12/2012
02/12/2012
03/12/2012
Particular
Balance B/F
Cash Deposit
Profit Applied@12.5%
Tax Applied
Cash Paid(profit)
Total
Debit
Credit
000
000
2,600
23,400
26,000
25,00,000
26000
000
000
25,260
Balance
000
25,00,000
25,26,000
25,23,400
25,00,000
Cash Waqf. Deposit Account:
In the Voluntary Sector, SIBL has also introduced Cash Waqf Certificate, a new product for the
first time in the Banking history so that a new beginning can be made for a participatory
economy.
This scheme has been well received by the public in general for its unique features. SIBL as a
pioneer of this innovative financial product of social capital mobilization has received both local
& international accreditation.
By opening a Cash Waqf Deposit A/C some one can get an opportunity to do welfare to the
mankind through Sadaka-e-Jariah. SIBL urges to all religious & affluent persons of the society to
come forward to mobilize Cash Waqf Deposit so that the profit may be utilized for the well
being of mankind.
The Guidelines for operation of this scheme are stated below:
Cash waqfs shall be accepted as endowment in conformity with the Shariah. Bank will manage the waqf on behalf
of the waqif.. Waqfs are done in perpetuity and the account shall be opened in the title given by the waqif.
The 32 purposes under 4 major fields like
(1) Family Rehabilitation
(2) Education&Culture
(3) Health&Sanitation
(4) Social Utility and
(5) Others are considered as General Guidelines for distribution of profit of Cash waqf A/Cs.
In the case, where only fields(s) for distribution of profit are mentioned without specifying the name of the
beneficiary(s) whether individual(s) or institution(s), those Cash Waqf will be treated as General Cash Waqf and the p
of those A/Cs will be spent for welfare of mankind in the field of
(1) Family Rehabilitation
(2) Education & Culture
(3) Health & Sanitation
(4) Social Utility and
(5) Others. On the other hand, Waqif may choose distribution of the profit to any specific individual(s)/ institution(s). T
A/Cs will be treated as Specific Cash Waqf, the profit of those A/Cs will be sent to the beneficiary(s) as specified b
the Waqif.
*
The amount deposited in the Cash Waqf A/Cs will be invested as per Bank’s own decision in conformity with the
Shariah and the Cash Waqf amount will earn profit at the highest rate offered by the Bank from time to time. The
waqf amount will remain intact and only the profit amount will be spent for the purpose(s) specified by the Waqif.
Unspent profit amount will automatically be added to waqf amount and earn profit to be grown over the time. No
cheque book will be issued in this account.
* Waqif may also instruct the Bank to spend the entire profit for the purpose specified by him/her.
* Waqif has the opportunity to create cash waqf at a time. Otherwise he/she may declare the amount he/she
intends to build up and may start with a minimum deposit of Tk. 1,000/= (one thousand) only (or equivalent foreign
currency). The subsequent deposits shall also be made in hundred or in multiple of hundred Takas. However,
General Cash Waqf A/Cs (where name of beneficiary whether Individual(s) or Institution(s) are not mentioned) may
be opened by depositing a minimum sum of Tk. 1,000/= only. Specific Cash Waqf A/Cs (where name of beneficiary
whether Individual(s) or Institution(s) are mentioned) by depositing a minimum sum of Tk. 5,000/= & above
* Waqif shall also have the right to give standing instruction to the bank for regular realization of cash waqf at a rate
specified by him/her from any other A/C maintained with SIBL.
Subarno Rekha - Special Savings Scheme for Women
Women can ensure an economically sound life by availing this scheme which shall pay a lump sum amount with attractive
profit or as monthly pension scheme as per their requirement .
*
The scheme is run in compliance with Mudaraba policy of Islami Shariah
*
Depositing a small amount monthly the women can withdraw the total deposit at a time including attractive profit or as
periodical/monthly pension after maturity.
*
The scheme shall be opened for long 3, 5 and 10 years.
*
The scheme holders shall be insured against any risk of accident and shall be entitled to an insurance facility from Tk.50,
Tk.1,00,000
*
The scheme holders shall get up to 80 percent investment facility of total deposit.
*
The scheme holders are entitled to a savings account at the bank.
*
The beneficiaries shall get annual charge free Debit card and Credit card of the bank.
*
The account can be closed before maturity in emergency and in that case profit would be given at savings rate of the ban
Conditions applicable.
Different DPS(Deposit Pension Scheme)Accounts
Monthly Payments and total amount of deposit with profit after maturity
SL
no
Monthly
deposit
Receivable amount
with profit after 3
years
Receivable amount
with profit after5
years
Receivable amount with
profit after 10 years
1
2
3
4
5
6
7
8
9
10
11
100
200
300
400
500
1000
1500
2000
5000
10000
20000
4577
9155
13732
18309
22887
45773
68660
91547
228867
457734
915469
8662
17324
25986
34648
43310
86620
129929
173239
433098
866195
1732390
24271
48542
72813
97084
121355
242711
368066
485421
1213553
2427107
4854213
Kafela - Mudaraba Hajj Scheme
This product is designed to help the Muslims of our country in performing one of their most important Farz "Hajj"
* Muslims having great desire to perform Hajj can save in compliance with Islami Shariah based on Mudaraba
policy.
* The scheme holders can save through monthly installment for a period of one to ten years as per their desired hajj
time.
* The beneficiaries shall be provided the stipulated amount on the basis of nominal monthly installment after a
certain period with a view to perform Hajj.
* Each Mudaraba Hajj account shall be opened in the name of a single person.
* The total Savings can be used for alternative Hajj performers.
* The minors can also open this account maintaining rules and regulations of the bank.
* The scheme holders are entitled to a savings account at the bank.
* The scheme holders shall get annual charge free Debit card and Credit card of the bank.
* The account can be closed before maturity and in that case profit would be given at savings rate of the bank
Monthly Deposit and Recieveable amount with profit:
Sl No
Years
Monthly Installment
Gross Pay Back
1
1
2
3
2
3
4
5
6
7
8
9
10
11
12
13
14
15
24,000
12,600
8,600
6,700
5,500
4,600
4,050
3,600
3,300
3,000
2,750
2,500
2,350
2,250
2,050
306,505
344,950
379,100
423,345
467,693
506,108
561,339
616,633
688,603
754,256
825,859
890,576
987,429
1,109,977
1,182,793
4
5
6
7
8
9
10
11
12
13
14
15
Sonali Kabin - Mudaraba Mohorana Savings Scheme
'
* Denmohor' is considered one of rights of the wives which are enforceable by Islami Sariah. This product
is aimed to create consciousness for paying '
* Denmohor' among married as well as unmarried men of Bangladesh. It also reduces the burden of
men in paying a lump sum amount of 'Denmohar'.
* The scheme holders can operate the account on the basis of Mudaraba policy of Islami Shariah.
* By depositing the monthly installments the beneficiaries shall be able to pay Denmohor to their wives after a
certain period (05 years and 10 years).
* This account is opened only on a single name.
* The scheme holders are entitled to a savings account at the bank.
* The scheme holders shall be provided annual charge free Debit card and Credit card of the bank.
In case of emergency the depositors can withdraw total deposit (including profit) before maturity and in that case
the savings rate is applicable.
Mohar (Mudaraba Saving Scheme)
SL No
Monthly deposit
Receivable amount
with profit after 5
years
Receivable amount
with profit after 10
years
1
2
3
4
5
6
500
1,000
2,000
3,000
4,000
5,000
43,310
86,620
173,239
259,859
346,478
433,098
121,355
242,711
485,421
728,132
970,843
1,213,553
Sukher Thikana - Special Savings Scheme for lower-income group
workers.
Financial inclusion of lower income groups specially the RMG workers is the core concept
of this scheme. Availing
* This scheme is run in compliance with Mudaraba policy of Islami Shariah.
*This scheme has been initiated for the lower-income group people especially for women workers of RMG sector
*Depositing a small amount monthly the scheme holders can withdraw the total deposit at a time including attract
profit or as in periodical/monthly pension scheme after maturity.
*Scheme holders can secure their future by withdrawing the amount in lump sum or as monthly pension.
*This scheme can be opened for a period of 3, 5 and 10 years.
*The scheme holder shall get insurance facility if he or she becomes disable to work due to any kind of accident
including fire burn.
*The scheme holders shall be entitled to insurance facility of up to Tk 50,000 regardless of whatever amount
accumulated in the account by the monthly deposits including the profit.
*The scheme holder shall get separate insurance certificate in his/her name.
*The scheme takers would get up to 80 percent investment facility on total deposit.
*The scheme holders are entitled to a savings account at the bank.
*The beneficiaries shall get annual charge free Debit card and Credit card of the bank.
Conditions applicable.
Shukher thikana (specially for the low income people)
SL
No
Monthly
deposit
Receivable
amount with profit
after3 years
Receivable
amount with profit
after 5 years
Receivable amount
with profit after 10
years
1
100
4,577
8,662
24,271
2
200
9,155
17,324
48,542
3
300
13,732
25,986
72,813
4
400
18,309
34,648
97,084
5
500
22,887
43,310
1,21,355
Shorno Shikhor (Mudaraba kotipoti saving scheme)
SL
No
year
Monthly deposit
Receivable amount with profit
1
2
3
4
5
6
7
8
9
10
11
5
6
7
8
9
10
11
12
13
14
15
1,15,500
90,500
72,500
59,500
49,500
41,300
65,000
30,000
25,600
22,100
19,100
10,004,553
10,040,699
10,027,860
10,061,731
10,085,270
10,023,951
10,029,233
10,076,046
10,018,604
10,028,332
10,008,248
borna Diganto - Mudaraba Millionaire Scheme
* Who does not want to be a millionaire? Now you can be a millionaire easily by availing this scheme - Suborno Diganto.
*The depositor can be a millionaire through monthly deposit within a period of 01 year to 10 years.
*The beneficiaries shall get up to 80 percent investment facility on total deposit.
*The scheme holders are entitled to a savings account at the bank.
*The beneficiaries shall get annual charge free Debit card and Credit card of the bank.
*This scheme is run in compliance with Mudaraba policy of Islami Shariah.
* Conditions applicable.
Shuborno Degonto( Mudaraba Milliner Saving Scheme)
SL No
1
2
3
4
5
6
7
8
9
10
year
1
2
3
4
5
6
7
8
9
10
Monthly deposit
Receivable amount with profit
74,200
35,200
22,000
15,500
11,600
9,100
7,300
6,000
5,000
4,200
1,001,700
1,009,800
1,007,016
1,007,424
1,004,786
1,009,617
1,009,702
1,014,628
1,018,714
1,019,385
Swapner Siri - Mudaraba Lakhopothi Deposit Scheme
You shall become a 'Lakeport' within short time under the scheme. Having an amount of that multiple you can ensure many of
your capital expenditures.
*
This scheme is run according to Mudaraba policy of Islami Shariah
*
The scheme can be opened for 2, 3, 5 and 10 years.
*
The scheme holders shall get up to 80 percent investment facility after two years of opening the account.
*
The scheme holders are entitled to a savings account at the bank.
*
The beneficiaries shall get annual charge free Debit card and Credit card of the bank.
*
The account can be closed before maturity and in that case profit would be given at savings rate of the bank.
*
Conditions applicable.
Shopner Shiri (Mudaraba Lakhopoti Deposit Scheme)
SL No
1
2
3
4
5
6
7
8
9
10
SI
Year
1
2
3
4
5
6
7
8
9
10
Monthly Deposit
7,500
3,500
2,200
1,550
1,160
910
725
600
500
420
Receivable amount with profit
101,250
100,406
100,702
100,742
100,479
100,962
100,279
101,463
101,871
101,928
SIBL Dipti - Mudaraba Education Savings Scheme
* You can now secure your children’s proper education by ‘SIBL Dipti’. At every stage of your
children’s educational life this scheme remains by your side to lighten your burden.
*This is an attractive scheme aimed at implementing higher education of the children
*The guardians shall get a handsome amount of money after maturity under the scheme that would help their
children’s dream of achieving higher education come true.
*The scheme can be run for 3, 5 and 10 years.
*The scheme holders shall get up to 80 percent investment facility on total deposit.
*The scheme holders are entitled to a savings account at the bank.
*The scheme holders shall get annual charge free Debit card and Credit card of the bank.
*This scheme is run according to Mudaraba policy of Islami shariah
*Conditions applicable
SIBL Dipti ( Mudaraba Educational Saving Scheme)
SL
No
Monthly Deposit
Receivable amount with
profit after 3 years
Receivable amount with
profit after 5 years
Receivable
amount with profit
after 10 years
1
25,000
35,596
45,051
81,183
2
50,000
71,191
90,102
162,366
3
100,000
142,383
180,203
324,732
4
200,000
284,766
360,406
649,464
5
500,000
711,914
901,016
1,623,661
6
1,000,000
1,423,828
1,802,032
3,247,321
7
2,000,000
2,847,656
3,608,065
6,494,642
Sonali Din - Mudaraba deposit Pension Scheme
Under this scheme women can ensure a happy family life as it gives you the opportunity to meet you capital expenditure as well
as monthly expenses.
* This scheme is run in compliance with Mudaraba policy of Islami Shariah.
* Depositing a small amount monthly the scheme holders can withdraw the total deposit at a time including
attractive profit or as periodical/monthly pension after maturity.
* The amount of monthly receivable profit is equivalent to that of total deposit.
* The depositors can withdraw Tk 1,000 per month for up to 3 years by depositing Tk 1, 00,000 now.
* This scheme shall be opened for a period of 3, 5 and 10 years.
* The scheme holders would get up to 80 percent investment facility of total deposit.
* The scheme holders are entitled to a savings account at the bank.
* The depositors shall get annual charge free Credit card and Debit card of the bank.
* The account can be closed before maturity and in that case profit would be given at savings rate of the bank.
* Conditions applicable
Shonali Din (Mudaraba Deposit Pension Scheme)
SL
No
Monthly Deposit
1
2
3
4
5
6
7
8
9
10
11
12
100
200
300
400
500
1000
1500
2000
5000
10,000
20,000
25,000
Receivable amount
with profit after 3
years
4,577
9,155
13,732
18,309
22,887
45,773
68,660
91,547
228,867
457,734
915,469
1,144,336
Receivable amount
with profit after 5
years
8,662
17,324
25,986
34,648
43,310
86,620
129,929
173,239
433,098
866,195
1,732,390
2,165,488
Receivable amount
with profit after 10
years
24,271
48,542
72,813
97,084
121,355
242,711
364,066
485,421
1,213,553
2,427,107
4,854,213
6,067,767
Sabuj Sayannho - Special Deposit Scheme for Senior Citizens
You can ensure a tension free life and meet your daily expenses even after retirement by availing this scheme and withdrawing a
lump sum amount or withdrawing as monthly pension scheme.
*
This scheme is run in compliance with Mudaraba policy of Islami Shariah.
*
Depositing a small amount monthly the scheme holders can withdraw the total deposit at a time including attractive profit or as
periodical/monthly pension after maturity.
*
The account can be opened for 3, 5 and 10 years.
*
The scheme holders shall be insured against any risk of accident and shall be entitled to an insurance facility from Tk.50,000 to
Tk.1,00,000
*
The scheme holders shall get up to 80 percent investment facility on total deposit
*
The scheme holders shall be provided Credit card and Debit card of the bank without charging annual fee.
*
The account can be closed before maturity in emergency and in that case profit would be given at savings rate of the bank.
SL
No
Monthly
Deposit
1
2
3
4
5
6
7
8
9
10
11
12
100
200
300
400
500
1000
1500
2000
5000
10,000
20,000
25,000
Receivable amount
with profit after 3
years
4,577
9,155
13,732
18,309
22,887
45,773
68,660
91,547
228,867
457,734
915,469
1,144,336
Receivable amount
with profit after 5 years
8,662
17,324
25,986
34,648
43,310
86,620
129,929
173,239
433,098
866,195
1,732,390
2,165,488
Receivable amount
with profit after 10
years
24,271
48,542
72,813
97,084
121,355
242,711
364,066
485,421
1,213,553
2,427,107
4,854,213
6,067,767
Samriddhir Sopan - Mudaraba Double Growth Deposit Scheme
A saver can see his/her money doubling just in five years six months through this scheme.
To get the double growth benefit of this attractive product a depositor needs to deposit the
total amount at the opening of the account.
* This scheme is conducted according to Mudaraba policy.
*The scheme holders have to deposit minimum Tk 10,000.
*The beneficiaries shall get up to 80 percent investment facility of total deposit after two years.
*The scheme holders are entitled to a savings account at the bank.
*The beneficiaries are entitled to get annual charge free Debit card and Credit card of the bank.
*If the scheme is closed down before maturity, the total deposited amount shall be repaid with
profit at the savings rate of the bank
Input Depositor information in the Form:
Depositor Information:
For individual:
Accounts opener’s name(in
block letter)
Md Musa khan
Professions
Service
Type of account
Deposit Account
Sector code
903040
182
Type of deposit code
For Institution/office/company/farm etc:
Name of the institution (in
block letter)
Type of institution
Type of account
Sector code
Type of account
Borhany steel
Steel industry
Current account
*******
*******
Deposit account opening process in software: After listing all kind of information of any
client the bank agent put entry in the Ababil software .where all kind of information stored
and run process with a view to keep accounts properly.
-Customer title
-Customer type as single or joint or institution
-Owner’s information
-Propitiator specially for current accounts
-Sector type : For the saving deposit Ababil use others local individuals
-Mobile no. Business address
-Individual ID
Software used by SIBL
Ababil - Integrated Islamic Banking Solution
Islam prohibits paying and receiving interest (Riba) in any of its financial transaction. On
the other hand, the productivity of capital is recognized. As a consequence, providing
capital for an economic activity and sharing the resulting profit or loss as well as charging a
higher price for deferred payments in trade is permitted in Islam.
In principle, this opens the way to two concepts:
- profit and loss sharing schemes and
- financing techniques based on permissible profits from trade.
Inspired with the above spirit and ideology, Millennium Information Solution Ltd. started
designing and developing its flagship product Ababil back in 1996. The largest Islamic
Bank in the country was the first client as well as partner to have the first version of it
implemented in their 100 branches by the year 1999. Since then, the product went through
technological and functional evolution, which turned into a new generation Banking
Software.
The unique strength of Ababil is the fact that Islamic Sharia based business logics of this
product gained maturity with the involvement and input of Sharia Scholars form home and
abroad, renowned bankers and field level users since the inception of the product. It also
became robust through repeated field tests. The main engine of Ababil was ground up
designed as an Islamic Sharia complaint solution, not a by product of a conventional
banking application.
Function of ABABIL software:
Data Entry in
software
Depositor
Information
Accounts
Information
Information
Auto Trial
Balance
Auto Financial
Statement
Auto Ledger
Voucher of
Account
Auto Journal
Data
Analysing
Why SIBL use ABABIL:
* Ababil was produced in a Moderate Islamic Country where
*
*
*
*
Islamic Banking concept has been a success for the last two
decades compared to the global trend of Islamic Banking.
Ground up designed and developed keeping Sharia Banking
in perspective. Not a by product or after thought of an
interest bearing solution.
Got maturity for more than 12 years through repeated field
tests.
Complete Solution with CORE, Investment, Finance, Trade
Finance, CIF, Limit & Sanction Management, Collateral Management, Teller, Internet , MIS
and more…
Extensive and deep-rooted domain knowledge was attained
by the team members through interaction with the scholars
* Around 200 person-years of effort was applied to build
the product.
Bankers, Sharia Scholars, Analysts, Technical leads and Software Engineers were behind this
*
effort.
Benefits of the Ababil software
•
•
•
•
Fully Islamic Shariah Complaint
Customizable & user friendly
Reduces operating cost
Superb customer support
Feature of the software
• Offers extensive user configurable software definition engines with flexible user definable
pricing and profit sharing capabilities
• Single customer view of all assets, liabilitiesand net worth with all related customer
relationship and exposures at customer and group level.
• Perform profit suspension, reversal of profit in suspense and compute specific provision on
non-performing financing products
• Multiple delivery channels like ATM, POS, SMS and Internet Banking
• Strong and robust Islamic Trade Finance & Foreign Exchange Module
Voucher prepared by ABABIL as account statement
Account Holder: Naznin Sultana
A/C No: 076136000083
Type of Account: (MNDR) Mudaraba Notice Deposit client
Opening Date : 30/10/2012
Last Tr. Date: 03/12/2012
Date
11/11/201
2
13/11/201
2
15/11/201
2
19/20/201
2
20/11/201
2
20/11/201
2
21/11/201
2
22/11/201
2
22/11/201
2
22/11/201
2
26/11/201
2
01/11/201
2
Code
Cheque/Inst
r
Particular
Debit
Credit
Balance
201
V-
BalanceB/F
Cash Deposit
000
1,00,000
6,00,000
7,00,000
102
V-
Cash Deposit
000
2,00,000
9,00,000
201
V-
Cash Deposit
000
3,00,000
12,00,000
201
V-
Cash Deposit
000
2,00,000
14,00,000
101
STD057878
Cash Withdraw 2,00,000
000
12,00,000
102
STD057868
Cash Withdraw 1,00,000
000
11,00,000
203
STD057856
Cash Withdraw
000
10,00,000
102
STD057853
Cash Withdraw 2,00,000
000
8,00,000
201
V-
Cash Deposit
000
5,00,000
13,00,000
202
STD057854
Clearing debit
3,00,000
000
10,00,000
101
STD057894
Cash Withdraw 2,00,000
000
8,00,000
203
V-
Cash Deposit
000
3,00,000
15,00,000
Total
11,00,000
20,00,000
1,00,000
Mudaraba Monthly Profit Deposit Scheme (MMPDR)
Proposed 2
Principal
Amount ( in
Tk)
100,000.00
Rate of
Return (%)
Monthly Gross
Payment (in Tk)
13.50% 1,125.00
1
Income Tax @
10%
112.50
Net Payment
(in Tk)
1,012.50
Changes of Provisional profit rate on Scheme Deposits of SIBL.
As per decision of the 97th ALCO meeting held on 11th June 2012, the management of the
Bank has decided to revise profit rate of Scheme Deposits of our Bank in the following
manner with immediate effect. The changed rate shall become very competitive in the present
market environment. Branches shall, therefore, do their utmost to promote the scheme
accounts and open as much accounts as possible. All our officers and executives in the
branches and Head Office must be aware of the changes and they shall also endeavor to
reach the information in all hook and corners of the country as possible.
SI
NO.
Name of Scheme Deposits
Previous Rate
Revised Rate
Group A: Mudaraba Monthly Profit Scheme
1.
Shachanda Protidin
12.50%
13.50%
2.
Shuborno Lata
12.50%
13.50%
3.
Shobuj Chaya
12.50%
13.50%
Group B: Mudaraba Deposit Pension Scheme
1.
Sonali Din
12.50%
13.50%
2.
Shukher Thikana
12.50%
13.50%
3.
Suborno Rekha
12.50%
13.50%
4.
Shobuj Shayanho
12.50%
13.50%
Group C: Mudaraba Double Benefit Scheme (Shall be Double by 5 years 6 months)
1.
Shamridhir Shopan
12.50%
13.43%
12.50%
13.50%
12.50%
14.00%
Group D: Mudaraba Hajj Scheme
1.
Kafela
Group E: Mudaraba Cash Waqf Accounts
1.
Cash Waqf Deposit Scheme
Above mentioned Profit Rates shall become applicable for the new scheme accounts to be
opened henceforth
Findings of the study:
[1] There are a number of banks are available, among those- SIBL is successfully
operating its activities.
[2] BRAC Bank always tries to satisfy their customer through quality service.
[3] Higher profit rate in deposit account Some time may be inspirable to the salaried
persons.
[4] Higher processing fees and charges impose to the client.
[5]Due to software use, Sometimes may make server problem so that, processing time
may get delayed.
[6] This kind of Banking deposit service basically based on metropolitan areas only.
The people from other areas may fell deprived of the facilities offered by Bank
[7] Few number of ATM booths.
[8] Employees are dissatisfied with their salaries which affect in their services.
[9]Profit rates are low in their deposit schemes comparing with other banks .
Recommendations
On the basis of the findings, the recommendations that have been suggested for the
bank are given below-[1] This branch should try to accelerate the general banking department.
[2] Young, energetic and enthusiastic individuals should be recruited to speed up
the service of the bank.
[3] The branch can be improved its profitability by financing different sector and
also diversified the foreign exchange related risk.
[4] SIBL should arrange more training program for their employees. It will
enhance the ability of the employee to handle all kinds of service efficiently. And
also they will be able to understand customer’s specific needs in deposit section.
[5] They should introduce strong information system, because customer wants
more information in a short period, especially in general banking.
[6] Most of the time SIBL, Alonker mor Branch is found in gathering and
crowded place by the customers who used to come and pay their bills, due to
shortage of space. This branch should increase its space.
[7] SIBL, Alonker mor Branch is not quite big and its physical facilities are not
visually appealing. So management should take this factor into deep consideration
and take initiative steps to increase the image of the bank.
[8] SIBL has to create a new marketing strategy, which will attract more clients
and thereby increase the Deposit.
[9]SIBL should use modern banking system. So that they can improve their
customer satisfaction.
[10] On-line banking is now a part and parcel of modern banking so SIBL,
Alonker mor Branch should introduce this as soon as possible.
Conclusion
Banking has become the inspirable part of social transaction. In our country, banks
are leading in the financial system. Again, private commercial banks, which are much
better than state-owned banks, are plying a significant as well as vital role in the
development of our country. Surely SIBL is mobilizing its all resources on this same
track to serve the nation with maximum possible contribution.
SIBL take a vital part in deposit business of Bangladesh through their regulatory and
best quality services. Day by day its area of serving is increased all over the country
through setting up new branch at new place.
During my three-month internship program at SIBL, Alonker mor Branch, General
Banking department almost all the desks have been observed more or less. As this
internship program has been arranged for gaining knowledge of practical banking and
to compare this practical knowledge with theoretical knowledge. Comparing practical
knowledge with theoretical, involves identification of weakness in the branch
activities and making recommendations for solving the weakness identified. Though
all departments and sections are covered in the internship program, it is not possible
to go in depth of all activities of the branch because of time limitation. However,
highest effort has been given to achieve the objectives of the internship program.
References
1
Md.Rashidul alam,Operation manager,SIBL,Alonker mor branch
2
Mrs. Shahera akter,Senior officer,SIBL,Alonker mor branch
3 Annual Report of SIBL- 2010
4
Statement of performance as of SIBL
5
www.siblbd.com
6
Guideline for deposit Transaction (Vol 1) – Bangladesh Bank
7
Guideline for deposit Transaction (Vol 2) – Bangladesh Bank