Financial Information System - Free Essay Example

Sample details Pages: 8 Words: 2349 Downloads: 4 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Level High school Did you like this example? T Financial Information System List of Tables Table No. Description Page 1 Sales figures for the month of October 2013 4 2 Sales figures for the month of November 2013 4 3 Sales figures for the month of December 2013 5 List of Figures Don’t waste time! Our writers will create an original "Financial Information System" essay for you Create order Figure No. Description Page 1 Product Details and Prices 6 2 Monthly Sales Figures 7 3 Sales Bonus Calculation 1 8 4 Sales Bonus Calculation 2 9 5 Sales Bonus Calculation 3 9 6 Profit and Loss Account for October 2013 to December 2013 11 7 More information on Profit and Loss Account 11 Question You are required to develop a financial information system based on a fictional company of your choice. The company will be a small business run as a sole trading enterprise. The company sells three products to its customers using five self-employed sales people. The company only has limited computing resources and you are required to develop the system using Excel 2010. The companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s most urgent need is to have information concerning the profitability of the products they sell; the profitability of the locations where they are selling their products; and the performance of their salespeople. The company would like to use the system for forecasting and analysis purposes and therefore expects it to be constructed in such a way that data can be varied and results calculated automatically. The companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s price list is based on a mark-up of 80%. The sales people receive a small basic monthly salary plus sales bonus of 33% paid one m onth in arrears. Question 1 A) Write a brief description of the company and the business in which it is engaged. (Max 250 words). MATTA Travel MATTA Travel was set-up as a sole-proprietorship since 8th June 2013 and based in Penang, Malaysia. It is engaged in the business of selling black luggage bag in three different sizes 20 inches (lug20), 22 inches (lug22) and 24 inches (lug24). The company marked-up the products by the margin of 80%. MATTA Travel was handled by Mr Lim à ¢Ã¢â€š ¬Ã¢â‚¬Å" the owner and he hired five sales people to sell company products to customer. The sales people are self-employed and implement their own marketing approaches. Each of them market and sell the products to different locations such as Air Itam, Georgetown, Bayan Lepas, Bukit Tambun and Butterworth. The sales people receive a small basic monthly salary plus sales bonus of 33% on the sales value of the products sold. The sales bonus will be paid one month in arrears. Question 1 B) Provide data for three months of trading. October 2013 Markesh/ Air Itam Keith/ Georgetown Chun Keat/ Bayan Lepas Ibrahim/ Bukit Tambun Julia/ Butterworth lug20 5 3 2 3 1 lug22 4 3 3 3 4 lug24 2 3 2 3 2 Table 1: Sales figures for the month of October 2013 November 2013 Markesh/ Air Itam Keith/ Georgetown Chun Keat/ Bayan Lepas Ibrahim/ Bukit Tambun Julia/ Butterworth lug20 6 5 4 3 5 lug22 6 5 6 5 7 lug24 5 6 4 5 6 Table 2: Sales figures for the month of November 2013 Question 1 B (cont..) December 2013 Markesh/ Air Itam Keith/ Georgetown Chun Keat/ Bayan Lepas Ibrahim/ Bukit Tambun Julia/ Butterworth lug20 8 7 6 4 6 lug22 7 6 7 5 8 lug24 7 8 6 5 6 Table 3: Sales figures for the month of December 2013 The above tables show the sales figures of five sales people during the month of October 2013 to December 2013. The data is shown according to luggage bag size and sales people. The code lug20 represent 20 inches luggage bag, lug22 represent 22 inches luggage bag and lug24 represent 24 inches luggage bag. The sales people that employed by MATTA Travel are Markesh who based in Air Itam, Keith who based in Georgetown, Chun Keat who based in Bayan Lepas, Ibrahim who based in Bukit Tambun and Julia who based in Butterworth. Question 1 C) Construct a financial information system, using Excel 2010, which meets the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s requirements. I have since constructed a financial information system using Excel 2010 to meet the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s requirements as per figures attached below. I will explain the usage of each sheet below the figure. Products Details and Prices Figure 1: Product Details and Prices The Figure 1 shows Products Details and Prices sheet. In here, the user must first set up the markup margin and the cost price for each luggage bag. Once markup margin set and cost price keyed in, the system will auto calculate the sales price. The formula as follow: (Cost Price * Markup Margin) + Cost Price Question 1 C (cont..) Monthly Sales Figures Figure 2: Monthly Sales Figures Question 1 C (cont..) The Figure 2 shows Monthly Sales Figures sheet. In Figure 2, the user will need to key in the sales figures for the month of October 2013 to December 2013 according to product code. Once the sales figures are keyed in, the system will auto calculate the SUBTOTAL for each product code according to sales people and area. The system will also calculate the TOTAL for each product code according to month and TOTAL for 3 months. From here, we are able to get the information about best-selling item. The best-selling item during the October 2013 to December 2013 is lug22 à ¢Ã¢â€š ¬Ã¢â‚¬Å" 22 inches luggage bag which sold 79 units, follow by lug24 à ¢Ã¢â€š ¬Ã¢â‚¬Å" 24 inches luggage bag which sold 70 units and lug20 à ¢Ã¢â€š ¬Ã¢â‚¬Å" 20 inches luggage bag which sold 68 units. We also can get the information about purchases for the particular product code from the à ¢Ã¢â€š ¬Ã‹Å"Total Cost Price by Products (RM)à ¢Ã¢â€š ¬ â„ ¢. It will auto generate by using the sales figures key in by user and multiply by the cost derived from à ¢Ã¢â€š ¬Ã‹Å"Products Details and Pricesà ¢Ã¢â€š ¬Ã¢â€ž ¢ sheet. Sales Bonus Calculation Figure 3: Sales Bonus Calculation 1 Question 1 C (cont..) Figure 4: Sales Bonus Calculation 2 Figure 5: Sales Bonus Calculation 3 Question 1 C (cont..) The Figure 3 to 5 show Sales Bonus Calculation sheet. In here, the user will need to set the Bonus Margin and the system will auto calculate the TOTAL SALES and BONUS for each sales people, each product code and each month. The Sales (Units) is taken from à ¢Ã¢â€š ¬Ã‹Å"Monthly Sales Figuresà ¢Ã¢â€š ¬Ã¢â€ž ¢ sheet and whenever any changes make to there, the figures will change too. The Value (RM) the cost price of product and is taken from à ¢Ã¢â€š ¬Ã‹Å"Products Details and Pricesà ¢Ã¢â€š ¬Ã¢â€ž ¢, the amount will be changed too if there is any changes make to there. Total Sales (RM) column will show the sales for each product code and the formula is: Sales (Units) * Value (RM) Bonus (RM) column shows the bonus calculation based on the total sales and bonus margin set. The formula is: Total Sales (RM) * Bonus Margin While for the Total for Oct 13, Total for Nov 13 and Total for Dec 13, these three rows will show the total of Sales (Units), total of Sales and Bonus received for each sales people. The above applied to all sales people column and at the second last column à ¢Ã¢â€š ¬Ã‹Å"Total Sales for the month ofà ¢Ã¢â€š ¬Ã¢â€ž ¢ indicates the total sales for three product code for that month i.e. October 2013, November 2013 and December 2013. While for à ¢Ã¢â€š ¬Ã‹Å"Total Bonus Paid for the month ofà ¢Ã¢â€š ¬Ã¢â€ž ¢ indicated the total bonus paid to sales people during the particular month. The last row of the sheet indicates the TOTAL of all columns for three months from October 2013 to December 2013. Those columns calculated for individual sales people are Sales (Units), Total Sales (RM) and Bonus (RM). While for à ¢Ã¢â€š ¬Ã‹Å"Total Sales for the month ofà ¢Ã¢â€š ¬Ã¢â€ž ¢ and à ¢Ã¢â€š ¬Ã‹Å"Total Bonus Paid for the month ofà ¢Ã¢â€š ¬Ã¢â€ž ¢ indicates t he overall figures. Question 1 C (cont..) Financial Information Figure 6: Profit and Loss Account for October 2013 to December 2013 Figure 7: More information on Profit and Loss Account Question 1 C (cont..) The Figure 6 and 7 show the Financial Information sheet. In here, user do not required to key in any information. All the figures are link to previous sheet and calculation is done based on the figures derived. à ¢Ã¢â€š ¬Ã‹Å"Salesà ¢Ã¢â€š ¬Ã¢â€ž ¢ in Figure 6 is taken from TOTAL of à ¢Ã¢â€š ¬Ã‹Å"Total Sales for the month ofà ¢Ã¢â€š ¬Ã¢â€ž ¢ column from à ¢Ã¢â€š ¬Ã‹Å"Sales Bonus Calculationà ¢Ã¢â€š ¬Ã¢â€ž ¢ sheet. While for à ¢Ã¢â€š ¬Ã‹Å"Purchasesà ¢Ã¢â€š ¬Ã¢â€ž ¢, it is taken from à ¢Ã¢â€š ¬Ã‹Å"Total Cost Price by Products (RM)à ¢Ã¢â€š ¬Ã¢â€ž ¢ of à ¢Ã¢â€š ¬Ã‹Å"Monthly Sales Figuresà ¢Ã¢â€š ¬Ã¢â€ž ¢ sheet. Gross Profit = Sales à ¢Ã¢â€š ¬Ã¢â‚¬Å" Purchases, which indicates the profitability of the products before deduct other expenses. à ¢Ã¢â€š ¬Ã‹Å"Sales People Bonusà ¢Ã¢â€š ¬Ã¢â€ž ¢ is referred to à ¢Ã ¢â€š ¬Ã‹Å"Total Bonus Paidà ¢Ã¢â€š ¬Ã¢â€ž ¢ from Sales Bonus Calculation sheet. Net Profit = Gross Profit à ¢Ã¢â€š ¬Ã¢â‚¬Å" Sales People Bonus, which shows the profit after deduct expenses. Figure 7 indicates the information needed by the company such as profitability of the products they sell; the profitability of the locations where they are selling their products; and the performance of their salespeople. Question 2 A) What do you understand by the term à ¢Ã¢â€š ¬Ã‹Å"quality informationà ¢Ã¢â€š ¬Ã¢â€ž ¢? In answering this refer to your system which you have developed in question 1 above (max. 200 words). Quality information describes the standard of the content of information; it is also defined as the fitness for use of the information provided. Information is a product used to support decision-making, and its quality is manageable. The above system meets the company requirement i.e. profitability of the products they sell; the profitability of the locations wher e they are selling their products; and the performance of their salespeople. Thus, I would consider the system provide quality information. The business owner also can make decision with the quality information, for an example, how he can increase the profit; by increase the selling price or have a lower cost price, the profit can be increased. The system will also provide other information such as best selling product, best salesperson, best sales area, best sales month and etc. With these information, the business owner can implement his plan or strategy to allocate more resources to the particular product, area or salesperson. In conclusion, a system that can meet user requirement and allow user to make decision to improve business, it will consider as a quality information system. Question 2 B) How would you ensure your system continued to provide quality information? (max 200 words). The characteristics of quality information are accuracy, completeness, consistency, and timeliness. The information recorded into database must be accurate and reliable. Accuracy of the information can be validated by comparing the sources of data and the motivation for the information is being produced must be unbiased. A database system that is accurate and valid helps to develop business ideas and promoting its objectives. Completeness of data is important to endure high quality information. If the data is incomplete or only contains partial information, it fails to provide full picture. The facts and figures should not be concealed or missed out. Consistency is another aspect of quality information. For example, the column for Post Code entry 5 digits is the expected length of the field; we will set in the database, a number more or less than 5 digits will not be accepted. If the field are not set to a specific limit for the information, the consistency might not meet. Lastly, timeliness is also one of important attribute of information. Real-time information is a fundamental of timeliness. To access accurate information at the right time, the information should be communicated in time by selecting appropriate channel of communication. Question 2 C) Explain how the owner of the business benefits from this information (max 200 words) Possessing high quality information helps to improve business performance in term of financial, operations, marketing metrics and so on. Quality information ensures the data meets the needs of the owner of the business. The managing director doesnà ¢Ã¢â€š ¬Ã¢â€ž ¢t have time to go through all reports; he wants the key facts of the details to make timely decision for company development. Besides, quality information presented using summaries can be communicated effectively to inform decisions about all aspects of business. Clear and concise information keeps workforces in the company and even customer current about companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s direction. Quality information in a useable form i ncreases productivity in the fast-moving business environment. High quality information understands customer needs and provides clear information about the business, products and services, which can attract new potential business and keep existing customers up to date on company improvements. It also presents the business as dynamic and professional. The quality information publicizes the businessà ¢Ã¢â€š ¬Ã¢â€ž ¢ objective accurately and provides verified details that communicate latest messages. Effective database system helps in knowledge management, as it enables managing director to monitor companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s operations and enhances collaboration among workforces. This also ensures better ways to measure performance and manages resources cost effectively. Question 3) The owner of the business realizes that all decisions connected with the future development of the company come from him and him alone. How would you suggest that he organises his workforce so tha t they can freely pass their ideas to him? (max 250 words). An effective way to run a business efficiently is to organise different department. The organisation can be structured to carry out its various activities to ensure that every workforce is well-aware of businessà ¢Ã¢â€š ¬Ã¢â€ž ¢ objectives and communications. The process of organising are division of work, departmentalization according to job specification, linking departments to shape overall organization structure, assigning duties to each departments and lastly, defining hierarchal structure in the department. As each department specialised into smaller assigned tasks according to their qualification, they can propose a quality ideal to the business owner after finalising the discussion among themselves. This is a win-win situation as the ideal of workforce can be heard and the business owner can get a more concrete and beneficial ideal from expert who know what is good for company future development. Beside s, in the organization, the function of every workforce is defined clearly. Each manager in the departments play important role in managing the team and report to the business owner. This ensured that the latest key message from director can be passed through to every workforce and everyone knows where the company is heading to. Whenever the changes happen in company, organizing function helps to communicate these changes to every workforce and hence it can be adopted systematically. In short, departmentalization helps in effective administration and ensures every workforce can work productively in a well-aligned business structure. An effective organization structure will result in increased profitability of the business. References Website Wikipedia, the free encyclopedia. 2014. Information quality Wikipedia, the free encyclopedia. [ONLINE] Available at: https://en.wikipedia.org/wiki/Information_quality. [Accessed 11 March 14]. International Association for Information and Data Quality. 2010. IAIDQpublicationsISO 8000-the Emerging Standard for Data Quality. [ONLINE] Available at: https://iaidq.org/publications/doc/west-2009-07.shtml. [Accessed 13 March 14]. Computer Business Research. 2014. Five characteristics of high quality information Computer Business Research. [ONLINE] Available at: https://www.computerbusinessresearch.com/Home/database/five-characteristics-of-high-quality-information. [Accessed 09 March 14]. ACCA Training Course Notes. 2012. ACCA Training Course Notes: Characteristics of Good Quality Information (ACCURATE).. [ONLINE] Available at: https://accalecturenotes.blogspot.com/2011/03/characteristics-of-good-quality.html. [Accessed 18 March 14]. CD Attachment

Good Vs Evil In Beowulf - 1618 Words

Bertha 2 Caroline Bertha Mrs. Morris English 11 28 August 2017 Beowulf The Anglo-Saxon people seemed very spiritual. They seemed to support proper burials of the dead, as seen when Shield passed away at the beginning of the story. They tried to live by peace and only get involved in conflict when necessary. Some similarities between their culture and our culture would be the need to protect what is ours. Everyone in today’s world wants to protect their country, family property, and it was the same way back then. All that they wanted was to protect Heorot and their land. Good vs. Evil is represented through†¦show more content†¦While Demi hasn’t fought physical battles with demons, she has faced her emotional demons and been very open about her battles with depression and eating disorders. The first battle that Beowulf fights is against Grendel, a demon who is destroying the peace in the Danes village. He conquers it with his bare hands and thinks it is over. But, Grendel’s mother wants revenge for the death of his son. So she starts attacking the village. Beowulf then has to go to her home to fight her, and swim into a filthy swamp, which is her home. He uses a sword named Hrunting to kill her, and he brings back pieces of her and Grendel to show his victory. The last battle he faces is against a dragon who is protecting treasure. A thief steals some, causing the dragon to go wild and destroy villages. Beowulf decides to fight him and while he does kill the dragon, he ends up dying from the bite he inflicted on him. They are similar in that Beowulf never gave up in any of them until whatever he was fighting was dead. They differ in the fact that Beowulf died fighting the dragon, but survived fighting the demons. 5. Beowulf lives up to the heroic paradox by dyin g while fighting the dragon. This was considered a battle, because he was fighting to protect his village. This explains Beowulf’s motivation to kill Grendel because he knew either way he would be remembered as a hero, whether he died or not. 6. This poem is put together in stanzas, but it does not rhyme. The details andShow MoreRelatedGood vs. Evil in Beowulf1456 Words   |  6 PagesGood vs. Evil in Beowulf Beowulf is longest and greatest early Anglo-Saxon poem which was composed in England sometime in the eighth century AD by a literate scop. This poem was created in the oral poetic tradition. This poem is considered as an epic because it is a long narrative poem which composed in an elevated style, dealing with the glories of hero (Tolkien 24). The setting of this epic is the six century in Denmark and southern Sweden. The protagonist, Beowulf is a noble warrior representsRead MoreGood vs. Evil Found in Beowulf807 Words   |  3 PagesGood vs. Evil Found in Beowulf In the story of Beowulf, there are many different themes found. Many people argue the main theme found in this story. This has been argued for a very long time and will go on for many more years to come. Although many themes in this story stick out and a main theme will never be accepted, one main theme is very noticeable in the story of Beowulf. The main theme found in Beowulf is good versus evil. Good versus evil is very easy to recognize. â€Å"Some peopleRead MoreEssay on Good vs Evil in Beowulf1568 Words   |  7 PagesIn Beowulf, the clash between good and evil is the poems main and most significant focal point. Although the epic poem Beowulf utilizes many characteristics of Christian themes, the violence in the poem relates to paganism. By exploring the characteristics of â€Å"good vs. evil† such as Cain, Grendel and Beowulf, this paper will explore the elements of Beowulf in such a light. The Anglo-Saxon poem, Beowulf, was originally told orally then later was written down anonymously in the Old English languageRead MoreTheme Of Good Vs Evil In Beowulf753 Words   |  4 Pagespoem of Beowulf, the theme is good vs. evil. But in the movie Hollywood made, everything is different. Beowulf is not honest, women are sexually powerful, and the monsters are Hrothgar and Beowulf’s sons, etc. They added many things that were definitely now in the poem. If you read the poem, then watching the movie you would be confused. You would be asking so many questions. But the current audience thinks good vs. evil is boring. Nobody likes a liar and the Hollywood version of Beowulf makes himRead MoreGood vs. Evil in Beowulf Essay931 Words   |  4 PagesIn the epic poem Beowulf, the struggle between good and evil reveals its omnipresence in even the oldest of tales. The many allusions and symbols throughout the story relate to Christianity and other Pagan beliefs. By looking at them, it becomes apparent that the author of Beowulf believed that the constant war between good and evil is not only fought by the common man but also in the ranks of their highest esteemed rulers and warriors, and even in their dreaded nightmares where monsters lurk andRead MoreGood Vs. Evil In Lord Of The Flies And Beowulf944 Words   |  4 PagesPower in all the wrong places Good v. Evil, it’s way more than just a concept, it’s more of a lifelong struggle inside of you. What more could you do when evil is shown all around you? Many of us may see the struggle between good and evil in the people we come across everyday. Flawed individuals may be perceived as good but are bad in the eyes of someone else; it all comes down to how you see it. The exposure to things and memories you make help impact the good in you. In order to further evaluateRead MoreGood vs Evil in the Epic of Beowulf Essay examples498 Words   |  2 Pagespoem Beowulf, there is an obvious distinction between good and evil. The hero and his foes play roles that are commonly associated with Anglo-Saxon literature. The lines are clearly drawn and expressed in the poem. As the story moves, the reader cannot mistake the roles being played, based on the characterizations in the epic, one recognizes each character for their purpose and place. The epic is named after the hero, Beowulf, who is a man â€Å"with gleaming armor.† (line 130) Because Beowulf is â€Å"theRead MoreGood vs. Evil1659 Words   |  7 Pages Good Vs. Evil In Beowulf, the conflict between good and evil is the poem s main and most important aspect. The poet makes it clear that good and evil doesn’t exist as only opposites, but that both qualities are present in everyone. Beowulf represents the ability to do good or to perform acts selflessly and in help of others. 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Regression Theory Methods and Applications †MyAssignmenthelp.com

Question: Discuss about the Regression Theory Methods and Applications. Answer: Introduction This report shows the relationship between the GDP and the port traffic. To estimate the relation, a regression analysis is conducted to determine the slope coefficient. With the help of a regression equation, it can be determined that to what extent the traffic changes depending upon the increase and decrease in GDP. The report also includes that to what extent traffic will be affected by a 2% increase in GDP. Regression analysis has been performed in order to solve the same. A GDP of a country will adversely affect its port traffic data. An increase in GDP will increase the traffic in the country. It is very important for the government to get its facts clear about GDP in order to determine traffic growth management. A proper method is used to conduct the research and to find out the relationship between GDP and port traffic. Following variables are selected to perform a regression analysis. X: it is an independent variable. As per the data, GDP is taken as an X variable. Y: it is an dependent variable and the given traffic data is considered to be Y because it depends upon the changes in GDP A method of regression analysis is used in order to find the relationship between GDP and port traffic data. A general regression equation is Y=A+Bx (Seber Lee, 2012). Y is the dependent variable, which is to be predicted. A stands for alpha or constant. The value of Y is equal to A, when X is equal to zero. B means beta is the coefficient of X or the slope of regression line. X is the independent variable, on which value of Y depends (Sen Srivastava, 2012). In context to world The relation between GDP and traffic data of the world is identified by using regression analysis. A regression equation is formed on the basis of which results are derived. A general regression equation is Y=A+Bx (Seber Lee, 2012). The below data relates to the GDP of overall world from 2005-2015 including several countries. Although the data for port traffic is given from 1996-2016 but for comparison, traffic data has been taken for the same period as of GDP. Data: Overall World Year GDP Traffic (dependent-Y) 2005 4,68,46,562.58 37,15,31,066.03 2006 5,38,56,933.86 32,30,84,816.18 2007 6,22,87,613.36 32,17,21,995.55 2008 7,16,94,770.04 27,25,28,200.00 2009 5,58,36,300.10 25,70,76,764.50 2010 6,78,44,395.31 29,33,00,431.75 2011 8,13,13,055.71 29,70,19,863.00 2012 8,20,74,909.57 31,74,33,197.00 2013 8,44,04,438.30 32,26,20,177.50 2014 8,43,96,763.46 39,83,11,678.00 2015 7,33,62,771.37 40,21,86,242.00 Calculation of regression equation SUMMARY OUTPUT Regression Statistics Multiple R 0.125528054 R Square 0.015757292 Adjusted R Square -0.093603009 Standard Error 49856404.43 Observations 11 ANOVA df SS MS F Significance F Regression 1 3.58149E+14 3.58149E+14 0.144086037 0.713053944 Residual 9 2.23709E+16 2.48566E+15 Total 10 2.27291E+16 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0% Intercept 293844084.2 83871194.23 3.503516158 0.006686437 104114261.8 483573906.6 104114261.8 483573906.6 X Variable 1 0.451002953 1.188142245 0.379586665 0.713053944 -2.236761531 3.138767436 -2.236761531 3.138767436 Regression Equation Y= A+Bx Y=293844084.20+0.45*X Y (dependent variable) Traffic 0.90% 2.900% X (independent) GDP B Slope or beta A Intercept From the given data, a regression equation is formed by using the formula. In this, Y is traffic data which is dependent and X is GDP data which is independent. The relationship between these two is identified using regression analysis. The calculation performed above shows that to what extent traffic data changes as GDP increases or decreases. The equation formed is: Y=293844084.20+0.45*X A= 293844084.20 B=0.45 For example, if the value of GDP (X) is 10,00,00,000 then, what will be the value of traffic data (y). The regression equation for this will be: Y=293844084.20+0.45*10,00,00,000 and the value of Y can be computed. Now addressing the question which is if the GDP increase by 2%, will the traffic data increase or decrease. The answer to this is calculated above and it seems that there is a positive relationship between GDP and port traffic. If value of X increase by 2% then the value of Y will also increase by 2.90%. This implies that rise in the overall GDP of world will lead to an increase in the port traffic. In context to UAE A linear regression is also performed to find out the relation between GDP and port traffic of UAE particular. The below data is exclusively related to the country GDP and traffic. Data: UAE only Year GDP Traffic (dependent-Y) 2005 1,17,287.13 1,34,33,352.38 2006 1,45,587.47 1,29,38,693.75 2007 1,78,630.36 1,44,59,505.50 2008 2,39,212.53 1,39,39,740.00 2009 1,92,000.00 1,38,74,367.00 2010 2,14,000.00 1,45,98,299.00 2011 3,02,000.00 1,58,51,696.00 2012 3,49,000.00 1,76,00,000.00 2013 3,79,000.00 1,76,00,000.00 2014 3,75,000.00 2,08,66,050.50 2015 2,65,000.00 2,15,92,000.00 Calculation of regression equation SUMMARY OUTPUT Regression Statistics Multiple R 0.73927209 R Square 0.546523223 Adjusted R Square 0.496136914 Standard Error 2118818.21 Observations 11 ANOVA df SS MS F Significance F Regression 1 4.86949E+13 4.86949E+13 10.84666129 0.0093272 Residual 9 4.04045E+13 4.48939E+12 Total 10 8.90994E+13 Coefficients Standard Error t Stat P-value Lower 95% Lower 95.0% Upper 95.0% Intercept 10012052.43 1946762.51 5.142924408 0.000608898 5608169.682 5608169.682 14415935.18 X Variable 1 24.16683158 7.337898095 3.293426982 0.0093272 7.567352876 7.567352876 40.76631028 Regression Equation Regression Equation Y= A+Bx Y=10012052.43+24.17*X Y Traffic 48% 50.340 % X GDP B Slope or beta The above calculation is done on the basis of the data given for a particular country which is UAE. Regression equation formed by using formula is: Y=10012052.43+24.17*X A= 10012052.43 B= 24.17 As it is already discussed that putting the value of X (GDP) in the equation will give the value of Y (traffic). So solving the question in context of UAE, if GDP rises by 2% then the port traffic will be 50.340%. Increase in GDP is equal to the 2% of beta. Analysing the relation on the national basis also shows that port traffic is directly and positively related with GDP. Conclusion The report concludes the fluctuations in GDP will have its effects on port traffic of a country. Increase or decrease in traffic is dependent upon the rise or fall in the GDP growth. Both have a positive relationship which is identified by using regression formula. References Seber, G. A., Lee, A. J. (2012).Linear regression analysis(Vol. 936). John Wiley Sons. Sen, A., Srivastava, M. (2012).Regression analysis: theory, methods, and applications. Springer Science Business Media.

Who Moved My Cheese an Example by

Who Moved My Cheese? In this fast changing world, life is really a matter of chance. Every decision made by a person will not work out without determination and hard work. The characterization made in the book Who Moved My Cheese by Spencer Johnson is a clear manifestation of how human beings behave in the society. Need essay sample on "Who Moved My Cheese?" topic? We will write a custom essay sample specifically for you Proceed The animals in the story bear different characteristics that can be attributed to different personalities among humans. The four main characters in the novel show different actions and reactions towards the problem at hand. Students Usually Tell EssayLab writers: How much do I have to pay someone to write my paper online? Essay writers recommend: Ask Us To Write My Paper And Get Professional Help Just like people who have diverse attitudes and behaviors, they have to face the challenges in the novel so that they can achieve their dream cheese. It is not peculiar to relate animals with human beings because it has a close resemblance. Juts like a mouse, a person tends to work hard in order to get some cheese. The cheese in the story is not any ordinary cheese; it symbolizes the goals and aspirations of the mice in the story which possess different personalities. The symbolisms and themes used in the book played a great job in exposing the point of view of the other in the best possible way. The book in general is about success and people. The cheese in the book symbolizes success and the 2 mice and 2 little people symbolize different people. The readers can see themselves from the characters that mirror their personality when it comes to decision making and learning about the idea of success. Book Summary Four characters were presented in the book. These are the little people Hem and Haw and the mice Sniff and Scurry. Lets characterize them one by one: Sniff is simple minded and uncomplicated, he anticipates changes early by sniffing it which is also his way in finding cheese everyday. Scurry is also like Sniff, simple minded and uncomplicated, he quickly scurries into action and adapt to the environment which in fact made him bump into walls when finding cheese on dark places. As they continue their everyday quest in finding cheese, when they found out that their cheese supply is nearly out of hand, Sniff and Scurry were prepared for the inevitable and knew instinctively what to do. The 2 mice did not over analyze things and were not burdened by many complex beliefs. They just accepted the fact that their cheese supply is nearly out of hand and so they were quickly off in search of New Cheese. Their trial and error method works though sometimes this will put their lives at risk like scurry being bumped on walls. On the other hand Hem and Haw are both full of complexities and they are complicated. But since the same scenario happened to hem and haw when they find out that their cheese is gone they find it hard to accept it and continuously hem and haw to the incident. Hem was yelling and complains that life is unfair for them since they worked hard for those cheeses, Hem denies the change that has happened with their cheese and Haw wants to ignore what he hears because he didn't want to deal with what was facing him so he just turned everything out. Haw easily give up and panicked when the cheese was moved. Haw had learned to adapt in time when he sees something better, as he observed from the 2 mice's activity and this made him learn a very important lesson about change, productivity and activity. Personal Work Experience My work as a (insert your profession here) demands alertness and hard work in everything. A slight change in my decision can lead to my downfall. It is the event that I never want to happen. I also value other people like my co-workers and I cannot afford loosing them too. Everyday gives us new and challenging experiences. Our company is like a big room full of cheese. There are many possibilities at hand and we should be careful enough in choosing which the best cheese is. Part of my profession is having the same work everyday, although at some points I feel a little boredom, I need to see things in a different perspective. Change is inevitable and I should always deal with it with optimism. I can say that my personality is more of a Haw, where at times i tend to be at ease with what I already have. And i also make things complicated once change occurs. I sometimes want to ignore what is already happening but later on i began to realize and adapt in due time those better reasons why certain things had happen and change is really unavoidable in this world. Lessons on productivity and activity are also one key term for me. We have to move everyday and live like there's no tomorrow. Conclusion The challenge in this book is how willing people are to accept changes in their everyday lives. Basically we always take things for granted and be confided with the stereotypical days of our lives. Are we going to be stuck like Hem,Haw, Sniff and Scurry rising up every morning outs on their jogging suits and running shoes leaves their homes and race around the maze looking for their favorite cheese? Don't wait for someone to move your cheese first before you do something. You have to seek for wider horizons and greater possibilities. There are many realizations and lessons that we can adopt from the book and apply in our lives especially for managers who play an important role in every organization. Managers should anticipate change and be ready to handle them. At the same time adaptation to these changes is really a must. Everyone have to enjoy these changes because everything happens for a reason struggles makes people stronger and well prepared for the future. Reference Johnson. Spencer (2002) Who Moved My Cheese? Vermilion Publishing

Mcdonald Pestel and External Analysis Essay Example

Mcdonald Pestel and External Analysis Essay Example Mcdonald Pestel and External Analysis Essay Mcdonald Pestel and External Analysis Essay Globalization has made the globe considerably smaller. States lines have turned into practically a divider separating certain regions of a massive unitary community. Businesses are the one that are highly affected by this occurrence. The virtual closeness of states has made trade and commerce an international event. Together with these advances, the key standards of business are similarly taken into account. Macdonald McDonald’s is one of the worlds most well-known and valuable brands and holds a leading share in the globally branded quick service restaurant segment of the informal eating-out market in virtually every country and the leading global foodservice retailer with more than 30,000 local restaurants serving more than 58 million people in more than 119 countries each day. A McDonalds restaurant is operated by a franchisee, an affiliate, or the corporation itself. The corporations revenues come from the rent, royalties and fees paid by the franchisees, as well as sales in company-operated restaurants. McDonald’s Vision McDonald’s vision is to be the world’s best quick service restaurant experience. McDonald’s Culture McDonald’s culture is the love towards McDonald’s brand and the respecting the company values imbibed in its rich history. McDonald’s Culture McDonald’s culture is the love towards McDonald’s brand and the respecting the company values imbibed in its rich history. History of McDonald’s * Started in 1940, when two brothers, Dick and Mac McDonald opened the first McDonald’s restaurant in California. In 1954, an entrepreneur and milkshake-mixer salesman, Ray Kroc, acquired the franchise of McDonald’s * In 1961, Kroc convinced the McDonald brothers to sell the business rights to him for a sum $2. 7milion. * In 1963, the mascot Ronald McDonald was born as a part of a marketing strategy in US. Happy Meal was introduced in US in 1979. * The year 1984 was marked by the death of Ray Kroc. * In 1994, McDonald’s bagged the Catalyst Award for its program for ‘fostering leadership development in women’. * In 1996, the first INDIAN Restaurant  was opened. In 1998, the first Macdonald’s was opened in PAKISTAN * In 2003, the company launched the ‘I’m lovin’ it’ campaign. McDonalds Practices There were three factors that were chosen to outline the success of McDonald’s corporation. The first factor is globalization, which is define as closer contact between different parts of the world, with increasing possibilities of personal exchange, mutual understanding and friendship between world citizens. Diversity, the difference among people and cultures, is the second factor discussed in the paper. The final factor is ethics, which can be defined as a set of principles of right conduct. This paper explains how the McDonald Corporations uses the factors to conduct business around the world. McDonald’s in Globalization Globalization has affected almost every aspect of life in almost every nation. From economic to social to culture, this widespread exchange of goods, services and ideas have influenced changes around the world. Even though the cultural influence in globalization is of slight significance to policy makers, its power has tremendous consequences to the nations involved and its people. Food is an important element in defining culture. â€Å"Food is the oldest global carrier of culture. † Any changes in the foods that we eat, in its preparation, the way it is served and consumed diminishes the traditional beliefs of the people. External factors and Strategies Political Factors The international operations of McDonald’s are highly influenced by the individual state policies enforced by each government. For instance, there are certain groups in Europe and the United States that clamor for state actions pertaining to the health implications of eating fast food. 2005) They have indicated that harmful elements like cholesterol and adverse effects like obesity are attributable to consuming fast food products. The company is controlled by the individual policies and regulations of operations. Specific markets focus on different areas of concern such as that of health, worker protection, and environment. All these elements are seen in the government control of the licensing of the restaurants in the respective states. For instance the meat issue in India. Therefore, McDonalds deal directly with the proper authorities in the respective markets that they intend to operate in. This way, a good way of establishes good relationship with the government. So Mcdonald’s transforms its menu in different countries but the core menu remains the same. Economic factors Branches and franchises of fast food chains like McDonald’s has the tendency to experience hardship in instances where the economy of the respective states is hit by inflation and changes in the exchange rates. The customers consequently are faced with a stalemate of going over their individual budgets. Particularly, their problem depends on the response of the consumers on these fundamentals and how it could influence their general sales. In regarding the operations of the company, food chains like McDonald’s tend to import much of their raw materials into a specific territory if there is a dearth of supply. Exchange rate fluctuations will also play a significant role in the operations of the company. Hence, if a franchise operates in a particularly economically weak state, hence their products shall cost higher than the other existing products in the market, then these franchises must take on certain adjustments to maintain the economies of scale. So, McDonalds, before penetrating the market, the company carry out a well conducted market research, especially in the movements in the economic environment. The frequency of the shifts in the inflation rate as well as the fluctuations in the exchange rate affects the operations of the company socio-cultural McDonald’s indulge a particular variety of consumers with definite types of personalities. It has also been noted that the company have given the markets such as the United Kingdom, an option with regards to their dining needs. It’s been pointed out that McDonald’s has launched a sensibly valued set of food that tenders a reliable level of quality for the respective market where it operates. Additionally, those who are aged just below the bracket of thirty-five are said to be the most frequent consumers of McDonald’s franchises. The multifaceted character of business nowadays is reflected in the harsh significance of the information on the subject of the existing market. In the case of McDonald’s they establish a good system in determining the needs of the market. The company uses concepts of consumer behaviour product personality and purchasing decisions to its advantage. Before a franchise is granted to a particular market, a well drafted and comprehensive market research is conducted initially so as to establish the acts that would conform to good customs, public policies, and morals of the said state. Similarly, the McDonalds find out the shifts in areas like the consumer behaviour and purchasing patterns of the market. Fundamentally, this is the key condition for executing a suitable customer relationship management system. Technological Factors McDonald’s generates a demand for their own products. (2006) The company’s key tool for marketing is by means of television advertisements. There are similarly some claims that McDonald’s are inclined to interest the younger populations more. The existence of play spots as well as toys in meals offered by the company shows this actuality. ( 1995) Other demonstration of such a marketing strategy is apparent in the commercials of they use. They employ animated depictions of their characters like Grimace and Hamburglar. Other advertising operations employ popular celebrities to promote their products. The like   has become endorsers for McDonald’s worldwide â€Å"loving’ it† campaign. Moreover, the operations of McDonald’s have significantly been infused with new technology. Elements like the inventory system and the management of the value chain of the company allows for easy payments for their suppliers and other vendors which the individual stores in respective markets deal with. The integration of technology in the operations of McDonalds tend to add value to their products. Basically, this is manifested in the improvements on its value chain. The improvement of the nventory system as well as its supply chain allows the company to operate in an international context. McDonalds Use the internet to their advantage. The cost-effectiveness, interactivity and real-time effects of the communications are a way to find suppliers. It is also a good way to correspond with the respective McDonald’s headquarters in every state. The company also looks i nto the use of IT to enhance their inventory operations. As the operations in its inbound and outbound logistics improve, the company will expect significant savings and reduction of costs in the operations. Legal Factors There has been the recurrent bellowing in opposition to the fast food industry. This has similarly made McDonald’s apply a more careful consideration on their corporate social responsibilities. On the whole, this addressed the need of the company to form its corporate reputation to a more positive one and a more socially responsible company. Hire local counsels to deal with the legal conflicts in individual markets on which the company may encounter. This is shall ensure the company that the lawyers that will handle their legal affairs are more versed with the legal regime that would iron out certain creases on their operations. Environmental Factors The social responsibilities of McDonald’s on the state are influential to the operations of the company. These entail accusations of environmental damage. Among the reasons why they are charged with such claims is the employ of non-biodegradable substances for their drinks glasses and Styrofoam coffers for the meals. (1997) Several civic groups in Hong Kong have made actions to make the McDonald’s franchises in Hong Kong aware of the rather copious use of Styrofoam containers and the resultant abuse of the environment. 1997) further indicated that in 1995, McDonald’s Hong Kong went over the Styrofoam used by both Australia and the United States combined. McDonald Monitor the waste disposal of the company. They are trying to minimize the use of Styrofoam materials and plastic cups. Constant updating of the social corporate responsibility is imperative. This should also entail that the headquarters should take in hand a manner of internal cont rol of those that would infringe upon this company objective. Sanctions such as revoking of the franchise license or a particularly high fine should be installed to serve as a deterrent to infringement. Transformation of menu Important strategic decisions are a key factor to their success with consideration for both internal and external factors. When considering the foreign market, companies need to consider there are risks. There must be local marketing to appeal to the local consumers and also to build relationships and trust (Bateman amp; Scott, 2004). Therefore, the strategic planning for marketing has to be effective The globalization of McDonald’s has raised many debates on both sides of the issue. The pro- globalization belief is that it enhances culture rather than adulterate. Radley Balko (2003), states that â€Å"In most communities, in fact, the McDonald’s has conformed to the local culture not the other way around. The McDonald’s corporation notes that most of its overseas franchises are locally owned, and thus make efforts to buy from local communities. McDonald’s also alters its regional menus to conform to local taste. † There has been a loss of traditional values with the introduction of non traditional food into the culture of foreign countries. The types of foods are symbolic to particular regions, religions and mores. In India, to the Hindu people, the cow is considered to be sacred as part of its religion. According to the AsianInfo. org (2007), â€Å"Diversity can be found in India’s food as well as its culture, geography and climate. † â€Å"Although a number of religions exist in India, the two cultures that have influenced Indian cooking and food habits are the Hindu and the Muslim tradition. † With the introduction of non traditional foods into this society, as with many others, there are adverse effects on the traditions it tries to uphold. These are just some of the concerns which affect the issue of food culture and globalization. Many more arise as a result of the introduction of fast food restaurants like McDonald’s into diverse cultures around the world. Some changes are embraced by the population while others are seen as a threat to the way of life that has been established for centuries. Some are adverse to the idea of globalization as a hold and perceive McDonald’s as a representation of this ideal and as a result hold them responsible. The question arises; does the globalization of McDonald’s adversely or positively affect the culture of different nations? Even though there has been many changes in the eating habits of the nations influenced by the introduction of McDonalds there has been many positive aspects. With the advancement of technology and communication the world itself seem to be moving at a faster pace. The advent of fast food into foreign cultures allows the opportunity to keep up with this fast pace. Culture is ever changing and thus McDonalds marks another step in the evolution of culture with the changes in has brought about. The menu has given people a new choice over the traditional foods eaten in the past. The McDonaldized institution has really spread across continents giving rise to a number of indigenous fast food chains. There is also the case of Asianization where Asian cuisine such as Fried rice is rapidly spreading all over the world. Unemployed youth are taking advantage of the McDonaldized institution to set up fast food businesses on the streets. This can be called fast food-street food. There are good and bad sides to this phenomenon therefore we need to find out the bad sides and improve upon them. Some traditional foods may also come with problems especially in terms of health so while we criticize fast food we should also analyze some traditional food at least for their nutritional importance. Each country implements the core McDonald’s menu to which in-country management is free to add localized menu items, e. g. , the Croque McDo in France, the Chicken Maharaja Mac in India and salads in many parts of the world. Internal Factors and Strategies McDonald’s training programs McDonald’s training programs are delivered in up to 40 languages, with the primary languages being Chinese (Simplified and Traditional), English (both International/Commonwealth and U. S. ), French, German, Italian, Japanese, Portuguese and Spanish for the top markets. The training materials consist of two elements: * core content which applies globally for maintaining consistent food quality and services worldwide, and * locale-specific content based on local menu items, food safety regulations and labor practices, etc. The company continues to invest and support initiatives to adapt its products and services to different locales to ensure its global brand. Fully globalized, right? Unique decisions to each country McDonald’s caters its menu in other countries to the cultures of the regions. For example, in India, the non-vegetarian menu includes chicken and fish items only (Welcome, n. d. ). Beef is not on the menu in India because are considered sacred. Global marketing decisions are no different than those made domestically but the decisions are unique to each country (Sister amp; Sister, 2005). Diverse workforce In the United States alone, McDonald’s has won numerous awards and received national recognition for diversity. Furthermore, operating on a global scale allows a company’s employees to experience working in different cultural environments. This is a good marketing strategy for recruiting employees. McDonald’s has a global core curriculum for its restaurant management (McDonald’s, 2004). Paula Doherty, a general manager states, â€Å"I’ve had incredible experience in different countries and†¦cultures†¦as a trainee manager – from Poland to Israel to the Philippines and more. Doing the job successfully has given me a real sense of achievement† . This business strategy speaks to their commitment to a diverse workforce. McDonald’s commitment to diversity is established on the foundational belief that diversity is not just a moral and ethical issue, but also a business issue (McDonald’s, 2005). Due to the global expanse of McDonald’s business, diversity has become an integral part of the internal company culture. McDonald’s has over 30,000 restaurants around the world, which means franchise owner/operators, employees, and customers represent just about every culture, religion or ethnicity on earth. In addition, McDonald’s promotes the use of local suppliers and based on their policies of diversity, expects and retains suppliers that have a similar diversity culture. Knowing and understanding the local customs and traditions of the communities where McDonald’s has established businesses, integrating people from these communities into the company, and adapting locally to the tastes and cuisines of the community, has made McDonald’s the leader in their industry. McDonald’s realizes that having diversity as an asset greatly enhances the profitability of the company. Diversity is a direct reflection of a company’s interpersonal relationships. These relationships, if positive, result in a rewarding venture. Conversely, if the relationships are negative, the company’s morale declines and if not addressed, leads to the deterioration of the company. This deterioration directly impacts the company’s income and the community’s acceptance of the business. However, McDonald’s leadership encourages diversity through their policies and programs. McDonald’s proven success with leveraging the advantages of diversity can be attributed to their core value of ethics. Ethics McDonald’s success is built on the foundation of personal and professional integrity. From the beginning, McDonald’s has based its reputation on trust and dependability, and their commitment to the community made them a household name. Founder Ray Kroc, believed in giving something back to the community in order to make the world a better place. Throughout the 1970’s, McDonald’s became involved with a lot of charity work. In 1974 established a charity called Ronald McDonald House. The purpose of this program was to provide temporary housing for the families of seriously ill children receiving treatment at nearby hospitals. Since the 70s, more than 10 million families around the world benefited from the comfort provided by Ronald McDonald Houses. Innovative programs In addition to their community involvement, McDonalds has a long-standing commitment to environmental protection. Restaurants around the world have innovative programs for recycling, resource conservation, and waste reduction. The environmental achievements of this corporation have been recognized by organizations such as the Audubon Society, Conservation International, Keep America Beautiful, the National Recycling Coalition, and the U. S. Environmental Protection Agency. People focus McDonalds is also an equal opportunity employer. As an equal opportunity employer McDonald’s ensures that employees and job applicants are selected, trained, and promoted without discrimination to race, gender, sexual orientation, age or disability. The company promotes their employees based on their relevant skill, talents, and performance. In support of this McDonalds promotes and sustains a working environment, which is free from unlawful discrimination, harassment and bullying. Employees are regarded as members of a team where everyones opinion is valued and respected. The Human Resources department monitors the effectiveness of the discrimination policies at regular intervals. Employees who feel that they have been treated unfairly are encouraged to use the remedies outlined in the Companys handbooks. McDonald’s ethical standards, as well as their strategies for globalization and diversity are instrumental to the overall success of the company. Here external and internal factors were discussed above that have affected McDonald’s. This was achieved by explaining what the factors are where and how McDonald’s dealt with each of the external and internal factors. The factors discussed were globalization, diversity, and ethics. The assignment illustrates how globalization is necessary for success and survival of McDonalds in the worldwide market. The paper also shows how diversity integrated people from different communities into the company, and adapted tastes and cuisines of the community. McDonalds showed ethics by being an active leader in the communities. There are many different values to the dollar around the world, many issues that have occurred in many of those regions/websites, and about 119 countries served by McDonald’s that rely on the functions of management to succeed.

Battle of Brandy Station in the Civil War

Battle of Brandy Station in the Civil War Battle of Brandy Station - Conflict Date: The Battle of Brandy Station was fought June 9, 1863, during the American Civil War (1861-1865). Armies Commanders Union Major General Alfred Pleasonton11,000 men Confederate Major General J.E.B. Stuart9,500 men Battle of Brandy Station - Background: In the wake of his stunning victory at the Battle of Chancellorsville, Confederate General Robert E. Lee began making preparations to invade the North. Prior to embarking on this operation, he moved to consolidate his army near Culpeper, VA. Early June 1863, the corps of Lieutenant General James Longstreet and Richard Ewell had arrived while the Confederate cavalry, led by Major General J.E.B. Stuart screened to the east. Moving his five brigades into camp around Brandy Station, the dashing Stuart requested a full field review of his troops by Lee. Scheduled for June 5, this saw Stuarts men move through a simulated battle near Inlet Station. As Lee proved unable to attend on June 5, this review was re-staged in his presence three days later, though without the mock battle. While impressive to behold, many criticized Stuart for needlessly tiring his men and horses. With the conclusion of these activities, Lee issued orders for Stuart to cross the Rappahannock River the next day and raid advanced Union positions. Understanding that Lee intended to begin his offensive shortly, Stuart moved his men back into camp to prepare for the next day. Battle of Brandy Station - Pleasontons Plan: Across the Rappahannock, the commander of the Army of the Potomac, Major General Joseph Hooker, sought to ascertain Lees intentions. Believing that the Confederate concentration at Culpeper signaled a threat to his supply lines, he summoned his cavalry chief, Major General Alfred Pleasonton, and ordered him to conduct a spoiling attack to disperse the Confederates at Brandy Station. To assist with the operation, Pleasonton was given two select brigades of infantry led by Brigadier Generals Adelbert Ames and David A. Russell. Though the Union cavalry had performed poorly to date, Pleasonton devised a daring plan which called for dividing his command into two wings. The Right Wing, consisting of Brigadier General John Bufords 1st Cavalry Division, a Reserve Brigade led by Major Charles J. Whiting, and Ames men, was to cross the Rappahannock at Beverlys Ford and advance south toward Brandy Station. The Left Wing, led by Brigadier General David McM. Gregg, was to cross to the east at Kellys Ford and attack from the east and south to catch the Confederates in a double envelopment. Battle of Brandy Station - Stuart Surprised: Around 4:30 AM on June 9, Bufords men, accompanied by Pleasonton, began crossing the river in a thick fog. Quickly overwhelming the Confederate pickets at Beverlys Ford, the pushed south. Alerted to the threat by this engagement, the stunned men of Brigadier General William E. Grumble Jones brigade rushed to the scene. Barely prepared for battle, they succeeded in briefly holding up Bufords advance. This allowed Stuarts Horse Artillery, which had nearly been taken unawares, to escape south and establish a position on two knolls flanking the Beverlys Ford Road (Map). While Jones men fell back to a position on the right of the road, Brigadier General Wade Hamptons brigade formed on the left. As the fighting escalated, the 6th Pennsylvania Cavalry unsuccessfully charged forward in an attempt to take the Confederate guns near St. James Church. As his men fought around the church, Buford began probing for a way around the Confederate left. These endeavors led him to encounter Brigadier General W.H.F. Rooney Lees brigade which had assumed a position behind a stone wall in front of Yew Ridge. In heavy fighting, Bufords men succeeded in driving Lee back and taking the position. Battle of Brandy Station - A Second Surprise: As Buford advanced against Lee, Union troopers engaging the St. James Church line were stunned to see Jones and Hamptons men retreating. This movement was in reaction to the arrival of Greggs column from Kellys Ford. Having crossed early that morning with his 3rd Cavalry Division, Colonel Alfred Duffià ©s small 2nd Cavalry Division, and Russells brigade, Gregg had been blocked from advancing directly on Brandy Station by Brigadier General Beverly H. Robertsons brigade which had taken a position on the Kellys Ford Road. Shifting south, he succeeded in finding an unguarded road which led into Stuarts rear. Advancing, Colonel Percy Wyndhams brigade led Greggs force into Brandy Station around 11:00 AM. Gregg was separated from Bufords fight by a large rise to the north known as Fleetwood Hill. The site of Stuarts headquarters before the battle, the hill was largely unoccupied except for a lone Confederate howitzer. Opening fire, it caused the Union troops to pause briefly. This permitted a messenger to reach Stuart and inform him of the new threat. As Wyndhams men began their attack up the hill, they were met by Jones troops riding in from St. James. Church (Map). Moving to join the battle, the Colonel Judson Kilpatricks brigade moved east and assaulted the south slope of Fleetwood. This attack was met by Hamptons arriving men. The battle soon deteriorated into a series of bloody charges and countercharges as both sides sought control of Fleetwood Hill. The fighting ended with Stuarts men in possession. Having been engaged by Confederate troops near Stevensburg, Duffià ©s men arrived too late to alter the outcome on the hill. To the north, Buford maintained pressure on Lee, forcing him to retreat to the hills northern slopes. Reinforced late in the day, Lee counterattacked Buford but found that the Union troops were already departing as Pleasonton had ordered a general withdrawal near sunset. Battle of Brandy Station - Aftermath: Union casualties in the fighting numbered 907 while the Confederates sustained 523. Among the wounded was Rooney Lee who was later captured on June 26. Though the fighting was largely inconclusive, it marked a turning point for the much-maligned Union cavalry. For the first time during the war, they matched their Confederate counterparts skill on the battlefield. In the wake of the battle, Pleasonton was criticized by some for not pressing home his attacks to destroy Stuarts command. He defended himself by stating that his orders had been for a reconnaissance in force toward Culpeper. Following the battle, an embarrassed Stuart attempted to claim victory on the grounds that the enemy had departed the field. This did little to hide the fact that he had been badly surprised and caught unawares by the Union attack. Chastised in the Southern press, his performance continued to suffer as he made key mistakes during the upcoming Gettysburg Campaign. The Battle of Brandy Station was the largest predominantly cavalry engagement of the war as well as the largest fought on American soil. Selected Sources National Park Service: Battle of Brandy Station CWPT: Battle of Brandy Station

Business Psychology Essay Example | Topics and Well Written Essays - 3500 words

Business Psychology - Essay Example The article authored by McHugh creatively likens absenteeism to a virus, expressing that while it is not possible to treat it completely, it may be effectively prevented or its effects curbed by striving to maintain and build a healthy system. When this is undertaken, Hugh purports that the effects of the virus are eliminated and it enters into a state of dormancy until such time when conditions again make it conducive for those effects to reappear. When applied to the organizational context, this implies that the root causes of absenteeism as an ‘infection’ ought to diagnosed to come up with more novel and effective solutions for curing the absence ‘bug’. This briefing article concisely presents the content of this article, especially focusing on its implications for the organizations directly involved in the study. The theoretical background of the study is derived mainly from theories on organizational health. Like absenteeism, it has been a favorite topic in management empirical research. To achieve and maintain organizational health, commendable management practices must be exercised, and the principal role of employees in carrying this out cannot be overemphasized. The importance of these management practices may be concretely seen in the outcomes that they bring forth including integrated job design, employee engagement, and a proactive approach to employee welfare. At the center of all these is the firm belief that people are the main assets of the corporation.

Negative Factors Involving Surrogate Parenting Research Paper

Negative Factors Involving Surrogate Parenting - Research Paper Example There has been ongoing debate on the legality of surrogacy, whether it should be allowed, or not (Hatzis, 2009). This essay seeks to delineate the negative factors involving surrogate parenting and hence advocating for its prohibition. To begin with, a majority of the developed countries have denounced the practice of surrogate parenting. They include countries like Germany, France, Denmark, Great Britain, Canada, Netherlands, Italy, Spain, Switzerland, Norway, and Australia. Germany and the United Kingdom are countries in which impose incarcerations on anyone found practicing surrogate parenting. Other countries have also developed commissions that inquire on surrogate parenting as a social menace. However, the United States unlike other developed countries has no sanctions as pertains to surrogate parenting. Many researchers have attributed this to adulation of personage rights and the protective approach to families (Markens, 2007). Surrogate parenting is an act against humanity. This was evident in a TV talk show where the issue on unwanted babies arose. These babies were referred to as unwanted when they were born physically challenged. Neither the surrogate mothers nor the donor parents accepted the child as their own. This was not until DNA was carried out and determined the genetic makeup of the child was similar to that of the husband of the surrogate mother. This is an act against humanity since a child born physically challenged should be given the love that is accorded to a normal child. Surrogate parenting incorporate segregation of disabled children an act that is not morally right (Stephenson, 2009). Additionally, surrogate parenting is a health risk to the surrogate parents. This is because the surrogate mother increases her chances of acquiring a sexually transmitted disease from the donor in the process of insemination. This occurs in situations where the surrogate mother is inseminated with

The Building Blocks of Life Worksheet Essay Example for Free

The Building Blocks of Life Worksheet Essay Part 1: Mitosis and Meiosis Short-Answer Response Use Ch. 5 of BioInquiry and the â€Å"Comparing Mitosis and Meiosis† video as resources for Part 1 of this assignment. Write 75- to 100-word answers to the following questions. Why are the process of mitosis and meiosis both important to a living organism? Mitosis is the process of asexual reproduction of cells. This process is important in order for living organisms to continue to live. If mitosis didn’t happen the living organisms would die when the original cells died off rather than the original cells making new cells that are exactly the same. Meiosis is the process of sexual reproduction where gametes are produced. This is the process of offspring being made. Animals, humans, and other forms of life that reproduce by meiosis would become extinct without meiosis. When would an organism need to undergo the process of mitosis? Meiosis? Mitosis is the process an organism would undergo to reproduce the cells needed to live such as any cell that makes replicas of itself in order to continue to live or to repair itself. Meiosis is the process that is required to reproduce offspring. In order for there to continue to be life forms on earth meiosis is important to continue the cycle of life. Both processes of cell production are important. They work differently but has similarities. They are both just important in the cycle of life. What would happen if meiosis did not occur? If meiosis didn’t occur it would cause endangerment and extinction of species and life forms. Meiosis is an important process to continue all species that reproduce sexually. Meiosis allows sperm and egg to produce gametes which is the beginning of a baby. Without this process populations in all species  would be affected unless the species reproduces asexually. Reproducing asexually means that there is no fusion of gametes to create offspring. Asexual reproduction happens with one parent. It is common in bacteria, fungi, and plants. Part 2: Photosynthesis and Cellular Respiration Matrix Complete the matrix. Use the following questions to aid in completion: What is the purpose of this pathway? Reactants: What does this reaction need to proceed? Products: What is produced because of the reaction? The role of ATP: Does it supply energy or store energy? Cellular respiration Photosynthesis Pathway Glycolysis Krebs cycle Electron transport Light-dependent reaction Light-independent reaction Purpose Break down one molecule of glucose into two molecules of pyruvate Part of a metabolic pathway involved in the chemical conversion of carbohydrates Mediating biochemical reactions that produce adenosine Triphosphate Provide energy for the light-independent reaction To make food and carbohydrates can be synthesized Where it takes place Cell cytoplasm Matrix of the mitochondrion Mitochondria Thylakoids Stroma Reactants ATP, NADH, Pyruvates, CO2, Coenzyme A, PGAL Acetyl CO-A, Oxaloacetate, Citrate, Alpha Ketoglutarate Hydrogen ions, Oxygen, NADH, FADH2 Light, water, ADP, NADP+ ATP, carbon dioxide, and NADPH Products H2O, NADH, ATP Carbon dioxide and ATP Water, ATP O2, ATP, NADPH ADP, NADP+,glucose The role of ATP Oxidizing glucose Finish oxidation of glucose and produce majority of NADH and the only FADH2 ETS accepts energy from carriers in the matrix and stores it to a form that can be used to phosphorylate ADP, Producing ATP for Energy Transports solar energy in the form of ATP to power other chemical reactions Uses ATP from ETC to convert CO2 into G3P. References Pruitt, N. L., Underwood, L. S. (2006). BioInquiry: Making connections in biology (3rd ed.). Hoboken, NJ: John Wiley Sons.

The Lilies of the Field :: essays papers

Vocabulary From â€Å"The Lilies of the Field† Amiable- to be friendly and noble. â€Å"A sculptor would have interpreted the features in terms of character, but Homer Smith’s mother had once said of him that he was two parts amiable and one part plain devil.†Antagonism- to be angry; hostile.â€Å"Homer felt antagonism stir in him, but it was a fine day and he was carrying the day in his spirit.† Pantomime- a routine â€Å"She went through the pantomime of shaking hands with one of the nuns and he told her what she was doing, pointing out the â€Å"you† and the â€Å"her.† â€Å"Segregated- to be set separated from others.â€Å"â€Å"If you learn English from me,† he said apologetically, â€Å"you’re sure enough going to get yourselves segregated some places.†Ã¢â‚¬Å" Dilemma- a problem that has multiple solutions but all having a downfall. â€Å"She did not have the authority to except gifts, but she lacked the vocabulary necessary to refuse acceptance or to explain her dilemma.†Debris- Left over wreckage.â€Å"The warmth of the day touched his skin and he was looking toward the debis in the foundation. Alternative- another way or idea. â€Å"He created a refuse pile that would have to be leveled off some day but he had no alternative and it did not worry him.† Ultimately- above all else â€Å"She wants a place ultimately for poor boys from the city; Spanish-speaking boys who get in trouble.† Exultation- rejoice â€Å"Loneliness had long since dropped away from him and he felt exultation.† Elude- escaped â€Å"He wanted to mingle his voice with these others but the words eluded him so long as he regarded them as words; when he thought of them merely as sounds, they made a pattern in his mind.† Reverence- purity.â€Å" When he walked to the station wagon, he was empty of thought but was filled with the throbbing sound, a happy feeling of reverence.† Dismay- to be afraid.â€Å" The expenditure dismayed him but he assured himself that he would pay the money back to his fund out of his pay on Friday.†Voracious- hungry He turned to his right on a rutted road and the nuns were in the field, working on their variegated crop, fighting for their growing stuff against weeds and voracious insects and the parched dryness of the soil.† Reluctant- unwilling. â€Å"He did not know whether he would still have a job with Livingston Construction Company and he was reluctant to leave his own job unguarded.

Crime Rate Soars in Abra Essay

I.INTRODUCTION: As if living up to its moniker â€Å"murder capital of the north,† shooting incidents in Abra in the first quarter of 2011 have almost tripled compared to those recorded in the same period in 2010, an election year. Based on records from the Abra Provincial Police Office (Abra-PPO), there were 14 shooting incidents from January to March in 2010 as against 36 cases recorded from January to March 27 this year. Statistically, this means that at least one shooting incident takes place every three days in this northern province. a.) Backround Of The Study Abra is a landlocked province in northern Luzon, which is consistently listed among hotspots during elections because of intense political rivalry and the presence of private armies. The current number of shooting incidents the year 2012 is more than a third of the 102 recorded shooting incidents. b.)Objectives: †¢To help people see, especially the youngsters, the negative effects of doing crimes. †¢To help people realize that crimes does not only destroys one entity but the whole country. †¢To let them see our place will not be progressive if some people will continue to do crimes specially killings. c.)Review Of Related Literature: REPUBLIC ACT NO. 7659 Sec. 5.The penalty of death for parricide under Article 246 of the same Code is hereby restored, so that it shall read as follows: â€Å"Art. 246.Parricide. – Any person who shall kill his father, mother, or child, whether legitimate of illegitimate, or any of his ascendants, or descendants, or his spouse, shall be guilty of parricide and shall be punished by the penalty of reclusion perpetua to death.† Sec. 6.Article 248 of the same Code is hereby amended to read as follows: â€Å"Art. 248.Murder. – Any person who, not falling  within the provisions of Article 246 shall kill another, shall be guilty of murder and shall be punished by reclusion perpetua, to death if committed with any of the following attendant circumstances: Sec. 7.Article 255 of the same Code is hereby amended to read as follows: â€Å"Art. 255.Infanticide. – The penalty provided for parricide in Article 246 and for murder in Article 248 shall be imposed upon any person who shall kil l any child less than three days of age. If any crime penalized in this Article be committed by the mother of the child for the purpose of concealing her dishonor, she shall suffer the penalty of prision mayor in its medium and maximum periods, and if said crime be committed for the same purpose by the maternal grandparents or either of them, the penalty shall be reclusion temporal.† Sec. 12.Section 2 of Republic Act No. 7080 (An Act Defining and Penalizing the Crime of Plunder) is hereby amended to read as follows: â€Å"Sec. 2.Definition of the Crime of Plunder; Penalties. – Any public officer who, by himself or in connivance with members of his family, relatives by affinity or consanguinity, business associates, subordinates or other persons, amasses, accumulates or acquires ill-gotten wealth through a combination or series of overt criminal acts as described in Section 1 (d) hereof in the aggregate amount or total value of at least Fifty million pesos (P50,000,000.00) shall be guilty of the crime of plunde r and shall be punished by reclusion perpetua to death. Any person who participated with the said public officer in the commission of an offense contributing to the crime of plunder shall likewise be punished for such offense. In the imposition of penalties, the degree of participation and the attendance of mitigating and extenuating circumstances, as provided by the Revised Penal Code, shall be considered by the court. The court shall declare any and all ill-gotten wealth and their interests and other incomes and assets including the properties and shares of stocks derived from the deposit or investment thereof forfeited in favor of the State.† d.)Framework: I must admit that Bangued or Abra in general is not on the top list of the many tourist attractions in the Ilocos or Cordillera Regions. The number-one most probable culprit may be the fact that some local tourists still have the stigma about NPA and the prevalent crimes in the province. And if there  are local tourists around, expect that they are just visiting for some business matters in the town capital. That leads me to my second most probable culprit: purpose of travelling. â€Å"Why should I go and visit Abra? What would I do in Bangued?† are just two of the many questions of some tourists, both local and international. e.)Statement of the problem: CRIME IS An act committed or omitted in violation of a law forbidding or commanding it and for which punishment is imposed upon conviction. Anywhere in the world is consider unsafe and dangerous. What makes a country, town or barangays even more dangerous and unsafe is when the politician themselves are busy killing each other instead of busy promoting peace and order in their respective area of assignment. Very sad to say this is the case with Bangued, Abra right now. At least here in Illinois our politicians are not at that situation yet and I hope, it will always be the case. f.)Hypothesis: I was born from Bangued, Abra and I am very disappointed to know and watch that my birthplace is becoming more of a killing fields. Abrenians are suffering because of these bad developments that our town is going through. Bad publicity doesn’t help at all when we are trying to promote our town as a good destination for tourist. It’s just very unsafe and dangerous place to be at right now. Politicians are busy killing each other instead of uniting for a better and prosperous Bangued, Abra. What a sad and proudless story to tell to our next generations. g.)Analysis: Shooting incidents have resulted in various crimes such as murder, homicide, frustrated murder, attempted murder and physical injury. It is not known if all shooting incidents have been documented by the Abra PNP. Early last year, several patients who sustained bullet wounds and checked in hospitals for treatment were not listed in police records. According to a short analysis in the Abra PNP report, the lower number of shooting incidents in 2010 was attributed to the Commission on Election’s (COMELEC) gun ban â€Å"implemented prior to the conduct of the National and Local Election.† â€Å"This  fact denotes that Total Gun Ban in the province is beneficial to the reduction of crimes committed with the use of firearms,† â€Å"Poverty and lack of job opportunities are the reasons why being a ‘hired killer’ has become a profession.†

Internship Report on Banking Business Activities of Mercantile Bank Limited, Satmasjid Road Branch Dhaka.

Internship Report On BANKING BUSINESS ACTIVITIES OF MERCANTILE BANK LIMITED, SATMASJID ROAD BRANCH DHAKA. [pic] Submission Date: 15th November, 2009 Prepared for: Prof. Md. Ashraf Hossain Dean, School Of Business Asian University of Bangladesh Dhanmondi Complex House 36, Road 27 (Old), 16 (New) Dhanmondi R/A, Dhaka-1209 [pic] Prepared By: JOBYDA JESMIN ID: 200521050 Batch: 24th Section: Finance Program: BBA Dhanmondi Complex Asian University of Bangladesh Letter of Transmittal 15th November, 2009 Prof. Md. Ashraf Hossain Dean, School of Business Asian University of Bangladesh Subject: Submission of Internship Report. Sir, It’s my great pleasure to submit the Internship report titled â€Å"Banking Business Activities of Mercantile Bank Limited† that you have asked me to prepare as a partial fulfillment of my graduation. I have tried my best during three months working period to follow the instruction of you in preparing this report. Throughout the report I tried to demonstrate the available services matter of this branch of Mercantile Bank Limited. Finally, I would like to thank you for your valuable guidance and advice for preparing this report. I thereby strongly hope and believe that you would be kind enough to accept this report and give me a pleasure to be obliged. Thanking for your time and reviews. Sincerely Yours, JOBYDA JESMIN ID: 200521050 Batch: 24th Section: Finance Program: BBA Dhanmondi Complex Asian University of Bangladesh Acknowledgement First of all I would like to express my deep gratitude to the almighty Allah for preparing this internship report successfully. Internship is the part of the Bachelor of Business Administration (B. B. A. ) program that provides on the job experience for the students. The students get chance to work closely with the people of the organization and learn about the functions, responsibility and the environment of the organization. The internship program enables a student to develop their analytical skills and scholastic aptitudes and to have a real-life orientation of the academic knowledge. I express my deep gratefulness to Mr. Md. Sadruzzaman, Executive Vice President, for his kind permission to allow me for three months practical orientation in Mercantile Bank. My special gratitude goes to Mr. Shamim Ahmed, Senior Vice-President & Manager of Mercantile Bank Ltd, Satmasjid Road Branch, for his modern outlook and meticulous supervision to carry out the job perfectly. I am very grateful to Mr. Mamun Hossain, Executive Officer, for helping me a lot. Moreover I am very much thankful to my internship in-charge in various departments and all the officers of Mercantile Bank Ltd of Satmasjid Road Branch for helping me very much although having their busyness. Without their help and friendly cooperation it could be very much difficult for me to complete the report in time. So again I want to express my gratitude to all of them. Acronyms |MBL |= |Mercantile Bank Ltd. | |AD |= |Authorize Dealer | |PO |= |Pay Order | |A/C |= |Account | |CDS |= |Central Depository System | |DD |= |Demand Draft |ERC |= |Export Registration Certificate | |FDBC |= |Foreign Documentary Bills For Collection | |OBC |= |Outward Bills for collection | |IBC |= |Inward Bills for Collection | |GDP |= |Gross Domestic Product | |TT |= |Telegraphy Transfer | |L/C |= |Letter Of Credit | |BR |= |Bankers Report | |IBCA |= |Inter branch credit advice | |IBDA |= |Inter Branch Debit Advice | |IMF |= |International Monitory Fund | |IRC |= |Import Registration Certificate | |KYC |= |Know Your Customer | |CCI & E |= |Chief Controller Of Import & Export | |LDBP |= |Local Documentary Bills Purchases | |FC |= |Foreign Currency | |TIN |= |Tax Identification Number | |LCAF |= |Letter of Credit Authorization Form | |BTB |= |Back to Back | |FDBC |= |Foreign Document Bill Collection | |SWIFT | = |Society For Worldwide Inter Bank Financial Telecommunication | |FDBP |= |Foreign Documentary Bill Purchased | Executive Summery This is an internship report based on the internship program took place in Mercantile Bank Ltd, Satmasjid Road Branch, The main objective of this report is to analyze the Banking Business Activities and performance of Mercantile Bank Ltd. I got only three months to gather practical knowledge from this branch, although it was too difficult to gather maximum and proper knowledge within this short range of time. There is a great supportive role of banking system in human society. It plays a vital role for the economic development of a country. Banks are financial-service firms, producing and selling professional management of the public's funds as well as performing many other roles in the economy. The study was to analyze Banking Business Activities of Mercantile Bank Ltd, Satmasjid Road Branch especially: ? General banking ? Foreign Exchange and remittance Credit & Advance department Firstly, I worked for one month in General Banking. During this period I tried my best to cover most o f the basic stuffs. Clearing section was important part to focus on. There were other sections such as Account opening section, Computer section, Cash counter section. Second month I worked in the Loan and Advance sector. And I tried my best to understand what to deal about, what to think about when approaching for any loan proposal. In the final days, I was in Foreign Exchange department. There I was involved in learning the Import LC, Export LC, the operation of back to back LC, Lodgment & settlement of LC, IBP & FBP etc. Most of all I tried heart & soul to present all that I have learnt & thought to be comprehensive to me. Though a short time I got to be introduced with all the activities of bank but I tried my best to give full of me in the practical orientation in bank as well as in the report writing. TABLE OF CONTENTS Chapter One Introduction Page No. 1. 1 Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 11 1. 2 Background of the Study†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦.. 12 1. 3 Rational of the Report†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦. 12 1. 4 Object ives of the Report †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦13 1. 5 Methodology †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 14 1. 6 Scope of the report †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 15 1. 7 Limitations of the Study†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 5 Chapter Two Overview of Mercantile Bank Ltd. 2. 1 Banking sector in Bangladesh †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦17 2. 2 Historical background of MBL †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 18 2. 3 Vision Mission & objectives of MBL†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦20 2. 4 Core values†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 21 2. 5 Management aspect of MBL†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 22 2. 6 Divisional aspect of MBL†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã ¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 23 2. 7 Branch Network†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 24 2. 8 Information about the Satmasjid Road Branch†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 26 2. 9 Financial Performance of MBL†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 27 2. 10 Nature of Business†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦28 2. 1 Financial Products and Services of MBL†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢ € ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 29 2. 12 Credit Policy of MBL†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 33 Chapter Three General Banking Activities 3. 1 Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 35 3. 2 Account Opening†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 36 3. 3 Different Types of Scheme and Features†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 39 3. 4 Cash Department†¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦45 3. 5 Clearing House†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 46 3. 6 Issuing PO, DD, TT †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 47 3. 7 Dispatch†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 7 3. 8 Issuing Cheque†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 48 3. 9 Closing of an Account†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦49 Chapter Four Foreign Exchange Department 4. 1 Introduction †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 52 4. 3 Letter of Credit (L/C) †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 53 4. 4 Parties to Letter of Credit†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 54 4. 5 Import Procedures†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 57 4. 6 Requirements of an importer to open an L/C †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 58 4. 7 Lodgment of Import Document†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 62 4. 8 Export Section†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 65 4. Back to Back L/C †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â ‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 66 4. 10 Documents required for opening a Back to back L/C†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 66 4. 11 Foreign Remittance†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 67 4. 12 Foreign Correspondent Bank†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 68 TABLE OF CONTENTS Chapter Five Credit DepartmentPage No. 5. 1 Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 72 5. 2 Importance of Credit†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦.. 73 5. 3 Forms of Advances†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦ 74 5. 4 Process of loan sanction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 75 5. 5 Different types of loan and interest rates†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦.. 78 5. 6 Types of Credit Scheme made by the MBL†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦.. 79 5. Loan categori es and their Features†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦.. 83 . 5. 8 Credit Policy of MBL†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦94 5. 9 Credit Risk Management of MBL†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦. 95 5. 10 Credit Risk Grading†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦97 5. 11 Mechanism of Credit Distribution of the MBL†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 101 5. 12 Necessary Documents for Loan Settlement†¦Ã¢â ‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 103 5. 13 Credit Recovery of MBL†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 104 Chapter Six Others Services of MBL 6. 1 Cards of MBL†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦108 6. 2 Online Banking†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦109 6. 3 SMS Banking services†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. .. 110 6. 4 SME Service Centre†¦Ã ¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦ 10 6. 5 MBL Brokerage House†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦111 Chapter Seven Conclusion 7. 1 Findings†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦ 113 7. 2 Recommendation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦ 114 7. 3 Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â ‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦119 7. 4 Bibliography†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦ 120 [pic] Chapter: 01 INTRODUCTION 1. 1 Introduction 1. 2 Background of the study 1. 3 Rationale of the report: 1. 4Objectives of the Report 1. 5Methodology 1. 6Scope of the report 1. 7Limitations of the study 1. 1: Introduction Internship is a temporary work program in which a student can gain supervised practical experience in a particular professional field. It is the period of time during which a novice in a field serves in a subordinate capacity and continues to gain experience; the learning period before one becomes an expert. Practical Knowledge is highly needed to match with the theoretical idea and knowledge. Banking industries are the best organization to practice the theoretical knowledge. This sector plays very important role in the economic life of the nation. The health of the economy is closely related to the soundness of its banking system. Although banks create no new wealth but their borrowing, lending and related activities facilitate the process of production, distribution, exchange and consumption of wealth. In this way they become very effective partners in the process of economic development. Within our country there are government banks, semi government banks, private sector commercial banks of Bangladesh and also it is the second-generation private bank in Bangladesh. It started its important moment when Bangladesh economy was undergoing through massive economy reforms and pursing unilateral and multilateral trade liberalization with the backdrop of the World Bank made international Monitory Fund *IMF* recommendation. This Mercantile Bank Ltd with its 42 Branches in Manipulate location of the country providing the best quality services to the clients and customers. For the duration of my 3 months internship period from 1st July to 8th October , 2009 in Mercantile Bank Ltd. Those types of experiences I have acquired these are bring together to formulate this report. 1. 2. Background of the study: Banks play an important role in the business sector and promoting industrialization and economic development of a country. Banks provide necessary funds for executing various programs underway in the process of economic development. This paper is entitled â€Å"Overall Banking Activities of Mercantile Bank Limited† originated from the fulfillment of the internship program. I have selected this topic to have insight knowledge about the Activities of Mercantile Bank Limited and to get an idea about the various types of deposit, loan which are mostly provided. This study will also give me a vague idea about the rules and regulations of providing loan, loan recovery and overall lending functions of a commercial bank. After three months of internship period I am supposed to prepare this report revealing findings, knowledge as well as experience gathered during internship period. 1. 3. Rationale of the report: Knowledge and learning become perfect when it is associated with theory and practice. Theoretical knowledge gets its perfection with practical application. As our educational system predominantly text based, inclusion practical orientation program, as an academic component is as exception to the norm. As the parties, educational institution and the organization substantially benefit from such a program, it seems a â€Å"win-win situation†. It establishes contracts and networking contracts. Contracts may help to get a job. That is, students can train and prepare themselves for the job market. A poor country like Bangladesh has an overwhelming number of unemployed educated graduates. As they have no internship experience they have not been able to gain normal professional experience of establish networking system, which is important in getting a job. Recognizing the importance of practical experience, an opportunity is offered by Asian University of Bangladesh for ts potential business graduates to get three months practical experience, which is known is as â€Å"Internship Program†. For the competition of this internship program, the author of the study was placed in a bank namely, â€Å"Mercantile Bank Limited†. Internship Program brings a student closer to th e real life situation and thereby helps to launch a career with some prior experience. 1. 4. Objectives of the Report: ? Broad Objective The study was conducted to make a review and analysis of the activities of MBL which include General banking, Credit Department and Foreign Exchange Sector. This paper attempts to discuss overall activities of MBL prescribed so far by Bangladesh Bank with a view to ensuring financial soundness of the banking sector. The purpose was also to make recommendations for improving the quality and soundness of those processes for consideration of the bank management. ? Specific Objectives: The specific objectives of this study are as follows: †¢ To present an over view of MBL. †¢ To know about the area of general Banking. †¢ To analysis the Lending procedures maintained by MBL. †¢ To observe principal Lending activities of MBL. †¢ To evaluate Lending performance of MBL. †¢ To know Foreign Exchange operations of MBL. †¢ To recommend suggestions for the successful Banking Operations of MBL. 1. 5. Methodology: For teaming up the data & information collected through primary & secondary sources, I have used both qualitative & quantitative method. During my study I followed some methodology to find out the fact & feature of the Bank which are given as follows: (A) Area of study: My project is the overall activities of MBL with reference to Saatmasjid Road Branch, Dhaka. In order to carry out the research work, I focused on taking the interviews of the Personnel involved in the different departments, Manager and Senior Level Employees, Business Clients and Account Holders and Particular departmental heads. (B) Sources of data/information: I have collected my information/data from the following sources, which helped me to make this report. The source has divided by two parts. Such as, 01. Primary source 02. Secondary source Primary sources: Many of the data and information were collected from my practical experience and queries from the executives and from related instruments while doing my internship at MBL. Secondary sources: Secondary data are collected basically from observation & collection from Journals, Brochures, Annual Reports, Paper, Magazines, Publications, Books and others form of publications as well as websites. Different statistical tools like mean, frequency distribution, tabular and graphical presentation are used to analyze data. 1. 6. Scope of the report: In this report I tried to describe overall banking performance. This report is a descriptive study which tries to focus on the theories and practices of banking activities in the context of the financial institutions in Bangladesh. It will not focus on the comparable practices of other banks. The study has covered a curtail idea on MBL, operational scenario of three departments of Mercantile Bank Limited, Saatmasjid Road Branch. Mentioning that, operations of three departments are closely related to each department’s activity as well. This will eventually refer that how the bank help the customers securing their cash and assets, getting credit facility, repaying loan amount and bank’s regulatory compliance ,lending policy etc. Overall banking system for gathering experience, my scheduled time was divided in various departments, such as: Department |Days | |General Banking |25 | |Clearing |15 | |Investment & Credit |25 | |Foreign Exchange Division |25 | 1. 7. Limitations of the study: In conducting the study, some problems were cre ated which may be termed as limitations of the study. They are as follows: †¢ The study does not cover critical analysis and implementations of comparative study in an intensive manner. †¢ During my internship program up to date information was not published. †¢ Relevant papers and documents were not available sufficiently. The time of this study was very inadequate to obtain depth knowledge in every department. †¢ The bank officials though helpful in every respect do not have much time to explain the internal procedures. †¢ Another limitation of this report is Bank’s policy of not disclosing some data and information for obvious reason, which could be very much useful. †¢ This study completely depended on official records and annual reports. †¢ Sufficient record, publications, facts and figures were not available, these constraints narrowed the scope of accurate analysis. †¢ This report is restricted only to Mercantile Bank Ltd. [pic] Chapter: 02 Overview of Mercantile Bank Ltd. 2. 1. Banking sector in Bangladesh 2. 2. Historical Background of MBL: 2. 3. Vision, Mission and objectives of the bank: 2. 4. Core values 2. 5. Management aspect of MBL 2. 6. Divisional aspect of MBL: 2. 7. Branch Network 2. 8: Information about the Satmasjid Road Branch. 2. 9:Financial Performance of MBL 2. 10Nature of Business 2. 11. Financial products and services of MBL: 2. 12 Credit Policy of MBL 2. 1. Banking sector in Bangladesh: Banking system occupies an important place in an economy. A banking institution is indispensable in modern society. It plays a liberalization of economics policies in Bangladesh. Certainly banks can be identified by the functions they perform in the economy. Banks act as financial intermediary by transferring funds from savers to borrowers and in paying for goods and services. In 1971, Bangladesh, was East Pakistan, emerged as an independent country. In immediately nationalized the entire Banks expanding 3 Foreign Banks, six Nationalize Banks were thus formed. In 1983 a new policy was implemented allowing private sector participation in the industrialization. As a part of this process, two national commercial Banks were against denationalization and a number of Private Commercial Banks were allowed to operate. Among these Pubali Bank and Uttara Bank were the first to be decentralized. |Particulars Number of Banks | |Nationalized commercial Bank |04 | |Privatized commercial Bank |30 | |Specialize Bank |05 | |Foreign Bank |10 | |Co- Operative Bank |01 | |Grameen Bank |01 | |Total = |51 | Table 1: Schedule Banks in Bangladesh. 2. 2. Historical Background of MBL: Mercantile Bank Limited emerged as a new commercial bank to provide efficie nt banking services and to contribute socio-economic development of the country. The Bank commenced its operation on June 2, 1999. The Bank provides a broad range of financial services to its customers and corporate clients. The Board of Directors consists of eminent personalities from the realm of commerce and industries of the country. Mercantile Bank Ltd (MBL) was incorporated in Bangladesh as a Public Company, Limited by shares under the Companies Act 1994 as on May 20, 1999 and subsequently obtained Banking Operation License from Bangladesh Bank under the Bank Companies Act 1991 and commenced commercial operation on 02 June 1999 to provide efficient banking services and to contribute socio-economic development of the country. The bank has 42 branches and 3 SME service center. It has listed in the Stock Exchanges at Dhaka and Chittagong in 2003 and 2004 respectively. The Founder of MBL is committed to make it a little more different and a bit special qualitatively. This bank has new vision to fulfill and a new goal to achieve. The bank has been manned with talented and experienced personnel equipped with most modern technology so as to make it most efficient to meet the needs of 21st century. The Head Office of the Bank situated at 61, Dilkusha commercial Area, Dhaka. The Board of Directors consists of eminent personalities from the realm of commerce and industries of the country. The Authorized Capital of the Bank is Tk. 3000 million and the Paid -up Capital is Tk. 1798. 68 million. The Bank provides a broad range of financial services to its customers and corporate clients It has a large asset position comprising of Tk. 55928. 72 million in December 2008. [pic] 2. 3. Vision, Mission and objectives of the bank: Vision Would make finest corporate citizen Mission: Will become most caring, focused for equitable growth based on diversified deployment of resources, and nevertheless would remain healthy and gainfully profitable Bank. Objectives of Mercantile Bank: The objective of MBL is not only to earn profit but also to keep the social commitment and to ensure its co-operation to the persons of all level, to the businessman, industrialist – specially whom are engages in establishing large scale industry by consortium and the agro based export oriented medium and small scale industries by self inspiration. Strategic Objective: ? To achieve Economic Value Added (EVA) each year. ? To be market leader in product innovation. ? To be one of the top three financial institutions in Bangladesh in terms of cost efficiency. ? To be one of the top five financial institutions in Bangladesh in terms of market share in all significant market segments that the bank serve. Financial Objective: To achieve a return on shareholder’s equity of 20% or more, on average. 2. 4. Core values: For the Customers: providing with the caring services by being innovation in the development of new banking products and services. For the Shareholders: maximizing wealth of the bank. For The Employees: respecting worth dignity of individual employees devoting their energies for the progress of the bank. For the Community: strengthening the corporate values and taking environment and social risks and reward into account. INVESTORS INFORMATION: Investor can be informed about any information from Dhaka Stock Exchange Website and Bank’s website: †¢ www. dsebd. org †¢ www. mblbd. com 2. 5. Management aspect of MBL: The Board of Directors being at the highest level of organizational structure plays an important role on the policy formulation. The Board of Directors is not directly concern with day-to-day operation of Bank. They had delegated their authority to the Managing Director and CEO to look after the day-to-day affairs of the Bank. The Bank is running by an excellent management team under the direct supervision of a competent Board of Directors. The Board of Directors comprises total thirteen members, which is within the maximum limit as imposed by BPRD circular-12, dated April 26,2003of Bangladesh Bank, headed by the Chairman. Md. Abdul Jalil, is the present Chairman of the Board. The Managing Director (MD) and CEO head management team. Mr. Dewan Mujibur Rahman is the present Managing Director and CEO of MBL. The management hierarchy of Mercantile Bank Limited is given below: | Board of Directors | | Managing Director | | Additional Managing Director | | Deputy Managing Director | | Senior Executive Vice President | Executive Vice President | | Senior Vice President | | Vice President | | First Vice President | | Asst. Vice President | | First Asst. Vice President | |Senior Principal Officer | | Principal Officer | | Senior Officer | Officer | | Junior Officer | | Assistant Officer | Figure: The management hierarchy of MBL 2. 6. Divisional aspect of MBL: There are total fourteen divisions in the Head Office of MBL. List of various divisions of MBL is given below: | Audit and Inspection division | | Central Accounts Division | | | Credit Division | | Marketing, Development Banking Division | | General Services Division | |Human Resources Division | | International Division | | Information Technology Division | | Research Division | | Treasury Market Division | | Board Secretariat& Share Dept. | | Cost Control Dept. | Law & Recovery Dept. | | Card Cell | Fig: Divisions of MBL 2. 7. Branch Network: MBL is one of the 3rd generation commercial Bank in private sector of Bangladesh. The Bank within stipulation lay down by the Bank Company Act 1991 and directives as received from Bangladesh Bank from time to time provide all types of commercial Banking services. It has 42 branches all over the country and also enlisted the Dhaka and Chittagong stock exchange as publicly quoted company for its general class of share. |Bank's Name |Name of Region/Zone |No. f Branches | | |Dhaka |19 | | | | | | | | | | | | | |MERCANTILE BANK LIMITED | | | | |Gazipur |02 | | |Chittagong |06 | | |Sylhet |02 | | |Moulvibazar |01 | |Comilla |01 | | |Noakhali |01 | | |Bogra |01 | | |Rajshahi | 01 | | |Rangp ur |01 | | |Barisal |01 | | |Khulna |01 | | |Naogaon |02 | | |Cox’sbazar |01 | | |Feni |01 | | |Shariatpur |01 | | |Total Branches |42 | Table: Branches of MBL [pic] 2. 8: Information about the Satmasjid Road Branch: Address of Branch: Satmasjid Road Branch House: 735(old), 82/A (New) Road: 8/A (New), Satmasjid Road Dhanmondi, Dhaka-1205 e-mail:[email  protected] com Phone: 9139183, PABX: 8112463-4, 9141148 Fax: +88029139183 SWIFT: MBLB BD DH Opening Date: 1st November, 2004 as 22nd Branch of MBL. Number of Employees: 22 Name of Manager: Shamim Ahmed, Vice President & Head of Branch. Mercantile Bank has purchased the land and building of this Branch Last month where it operates. 2. 9: FINANCIAL PERFORMANCE OF MERCANTILE BANK LIMITED: (BDT in million) MERCANTILE BANK LIMITED AT A GLANCE: Particulars |2005 |2006 |2007 |2008 | |Authorized Capital |1,200. 00 |3,000. 00 |3,000. 00 |3,000. 00 | |Paid-up Capital |999. 27 |1,199. 12 |1,498. 90 |1,798. 68 | |Total Assets |28,890. 48 |37,159. 65 |44,940. 54 |55,928. 72 | |Deposits |25,087. 43 |33,332. 65 |39,348. 00 |49,538. 36 | |Loan & Advances |21,857. 05 |26,842. 14 |31,8 77. 86 |41,993. 5 | |Import |33,271. 90 |42,442. 80 |40,380. 10 |56,528. 80 | |Export |24,108. 57 |34,592. 10 |32,670. 10 |43,108. 50 | |Remittance |679. 10 |2,989. 10 |3,510. 40 |4,722. 90 | |Profit after tax |386. 83 |494. 22 |540. 50 |615. 88 | |No. Of Branches |28 |35 |41 |42 | |No. Of Employees |663 |879 |945 |1115 | |No. Of Foreign Correspondents |266 |306 |584 |586 | 2. 10. Nature of Business: The Bank engaged in all types of commercial Banking services within the stipulations laid down by Bank Companies Act 1991 and directives as received from Bangladesh Bank from time to time. All types of Commercial Banking Services are provided by the Bank within the stipulations laid down by Bank Companies Act. 1991 and directives as received from Bangladesh Bank from time to time. Commercial Banking is the core activity of Mercantile Bank Limited. The bank serves all type customers ranging from individuals to corporate bodies, both private and public. Mainly MBL collects deposit from the people at lower rate and invests the same to the people again at higher rate. And difference between lower rate of deposit and higher rate of investment is the earnings of the Bank. MBL mainly invests in industrial sector like short term, Middle term as well as long term for import of capital machineries, establish new industry and working capital assistances with this Bank play’s a significant role in Bangladesh economy. The functions of commercial banks are now wide and varied. However the unctions of commercial banks may broadly be classified into the following three categories: 1. General Banking 2. Credit and investment 3. Foreign Trade (Import, Export & Remittance) 2. 11. Financial products and services of MBL: The bank has launched a number of financial products and services since its inception. Among them the followings have attained wide acceptance among the people ? Various Deposit Schemes : ? Double Benefit Deposit Scheme (DBDS) ? Family Maintenance Deposit (FMD) ? Mashik Sanchaya Prokalpa (MSK) Or Monthly Savings Scheme (MSS) ? Quarterly Benefit Deposit Scheme ? 1. 5 Times Benefit Deposit Scheme ? Advance Benefit Deposit Scheme (ABDS) Or Agrim Munafa Amanat Prokolpo (AMAP). Deposit Schemes : Monthly Saving Scheme The prime objective of this scheme is to encourage the people to develop their habit of saving. Under this scheme, one can save a fixed amount of return every month and get a lucrative amount of return after five, eight or ten years. Family Maintenance Deposit Scheme Under this scheme, one can deposit a certain amount of money for five years and in return he/she will receive benefits on monthly basis. Benefit start right from the first month of opening an account under the scheme and continue up to five years. On maturity the principal amount will be paid back. Double Benefit Deposit Scheme Under this scheme, one can deposit a certain amount of money for a six year period. After six years, the deposit amount will be doubled. Quarterly Benefit Deposit Scheme Under the Quarterly Benefit Deposit Scheme, one can deposit for a period of three years and in return depositor will receive benefits on quarterly basis. Benefit starts right from the first quarter of opening an account under the scheme and continues up to three years. On maturity the principal amount will be paid back. 1. 5 Time Benefit Deposit Scheme Under the 1. 5 Times Benefit Deposit Scheme, one can deposit a certain amount of money for 42 months or three and half years. On maturity, the depositor will receive 1. 5 time of the deposited amount. Advance Benefit Deposit Scheme Under this Scheme, one can deposit a certain amount of money for two years. The depositor will receive the benefit on yearly basis. The benefit amount of first year will be received in advance at the time of deposit. On maturity, the depositor will get back the principal amount with the benefit amount of second year. ? Various Credit Schemes : ? Consumers Credit Scheme (CCS) ? Car Loan Scheme ? Doctors Credit Scheme ? Rural Development Scheme ? Lease Financing ? Personal Loan ? Small Loan Loan Products: Consumer Credit Scheme Consumers' Credit Scheme is one of the popular areas of collateral-free finance of the Bank. People with limited income can avail of credit facility to buy household goods including computer and other consumer durables. Small Loan Scheme This scheme has been designed especially for the businessmen who need credit facility for their business and can't provide tangible securities. Lease Finance This scheme has been designed to assist and encourage the genuine and capable entrepreneurs and professionals for acquiring capital machineries, medical equipments, computers, vehicle and other items. Flexibility and easier terms and conditions of this scheme have attracted the potential entrepreneurs to acquire equipments of production and services and repay gradually from earnings on the basis of ‘Pay as you earn'. Doctors' Credit Scheme Doctors' Credit Scheme is designed to facilitate financing to fresh medical graduates and established physicians to acquire medical equipments and set up clinics and hospitals. Rural Development Scheme Rural Development Scheme targeted for the rural people of the country to make them self-employed through financing various income-generating projects. This scheme is operated on group basis. Woman Entrepreneurs Development Scheme Women Entrepreneurs Development Scheme has been introduced to encourage women in doing business. Under this scheme, the Bank finances the small and cottage industry projects sponsored by women. SME Loan Scheme Small and Medium Enterprise (SME) Loan Scheme has been introduced to provide financial assistance to new or experienced entrepreneurs to invest in small and medium scale industries with a comparatively low rate of interest as the same is assisted by the Bangladesh Bank with refinancing facilities. Personal Loan Scheme Personal Loan Scheme has been introduced to extend credit facilities to cater the needs of low and middle-income group for any purpose. Government and semi-government officials, employees of autonomous bodies, banks and other financial organizations, multinational companies, reputed private organizations and teachers of recognized public and private schools, colleges and universities are eligible for this loan. Car Loan Scheme Car Loan Scheme has been introduced to enable middle-income people to purchase Cars/SUVs/Jeeps. Government and semi-government officials, employees of autonomous bodies, banks and other financial organizations, multinational companies, reputed private organizations, teachers of recognized public and private universities and businessmen are eligible for this loan. Home Loan Scheme To meet the growing need of housing for middle and lower-middle income people, MBL has introduced Home Loan Scheme. We also support the Bangladesh Bank's Home Loan Refinance Scheme. The Scheme boosts up the growth of housing sector. Such loan shall be available for purchase or construction of new apartments for self-residing purpose. Overseas Employment Loan Scheme Overseas Employment Loan Scheme is designed to facilitate the Bangladeshi youths seeking employment aboard but who are unable to meet the expenses to reach the workplace from their own sources. The ultimate objectives of the scheme is to promote skilled / semi-skilled manpower to different countries across the world as well as to provide support to Government Policy considering priority of this sector. By availing loan under this scheme, the active youths of middle and lower middle class can get overseas employment by avoiding borrowing from the illustrious class or village ‘mohajon' at a very high cost or selling their paternal properties. The scheme helps fetching foreign currency for the country as well as fulfill the Bank's commitment to encourage micro-lending for poverty alleviation, improve the quality of life and thereby contribute to socio-economic development of the country. ? Foreign Exchange Services: ? Export Finance ? Import Finance ? Inward Remittance ? Issue L/C ? Shipping Guarantee 2. 12. Credit Policy of MBL: MBL credit policy contains the views of total macro-economic development of the county as a whole by way of providing financial support to the Trade, Commerce and Industry. Throughout its credit operation Mercantile Bank Limited goes to very possible corners of the society. They are financing large and medium scale business house and industry. At the same time they also takes care entrepreneurs through its operation of lease financing and some micro credit, Small Loan scheme etc. As a part of its Credit Policy MBL through its credit operation maintains commitment for social welfare. The bank is coming up with a scheme where the under privileged children will be given financial support for education and self-employment. From operational aspects it is observed that as a matter of policy. i. Mercantile Bank Limited put emphasis on the customer i. e. the ‘Man’ and the Business not on the Security in selecting borrowers. ii. It takes of diversity in credit portfolio. iii. It takes care maintaining proper Mix of short, medium and ling term finance in its credit portfolio usually they do not go for long term Finance for a period not exceeding 5 years. iv. Charging of interest is flexible depending on insisting of the proposal and the customer [pic] Chapter: 03 General Banking Activities: 3. 1: Introduction 3. 2: Account Opening 3. 3: Different Types of Scheme and Features 3. : Cash Department 3. 5: Clearing House 3. 6: Issuing PO, DD, TT 3. 7: Dispatch 3. 8: Issuing cheque 3. 9: Closing of an Account 3. 1: Introduction: All business concerns earn a profit through selling either a product or service. A bank does not produce any tangible product to sell but does offer a variety of financial ser vices to customers. General banking is the starting point of all the banking operations. It is the department, which provides day-to- day services to the customers. Everyday it receives deposits from the customers and meets their demand for cash by honoring cheque. It opens new accounts, remit funds, issue bank draft and pay orders etc. Since bank is confined to provide the service everyday, general banking is also known as retail banking. This section provides the following services: †¢ Primary Information †¢ Account Opening †¢ Cheque Issuing †¢ Pay order Issuing †¢ Issuing Telegraphic Transfer (TT) †¢ Issuing Demand Draft (DD) †¢ Dispatch patch †¢ Clearing †¢ Cash department PRIMARY INFORMATION Customer gets primary information about the bank’s services from this section. Then they are sent the other section under their demanding services. 3. 2: ACCOUNT OPENING: There are different types of account as offered by MBL: i. Savings Account ii. Current account iii. STD (Short term deposit) iv. FDR (Fixed deposit receipt) v. MSS (Monthly saving scheme) SAVINGS ACCOUNT This account is basically offered those customers who want to save money at any time. Customer can save his/ her money according to his/ her declaration. The minimum amount of opening charge of savings ac count is TK. 1,000. But it should be mentioned that when customer want to close the tax is deducted from the interest and have to pay closing charge TK. 100. If want to transfer customer have to pay TK. 200 for transfer charge. †¢ Requirements: †¢ Form must be properly filled up †¢ Have a introducer who introduce the account holder †¢ Two copies of passport size photograph of account holder †¢ One copy of passport size photograph of nominee Have to fill up declaration form where must mention amount of each transaction and annual turnover †¢ Have to fill KYC (Know Your Customer) form, †¢ Have to submit National ID Card ( for all customer) †¢ Have to submit student ID Card (for student) †¢ Have to submit trade license (for business) †¢ Deed (for partnership) †¢ Have to submit TIN number †¢ Have to submit photocopy of passport. ? CURRENT ACCOUNT Current account mainly opened for the Companies and partnership firm. The amount o f this account’s transaction would be big. The requirements of opening this account are given below. †¢ Requirements: For Individual / Joint Account †¢ Two photographs of account holder. †¢ Identity (copy of passport, National ID card, Commissioner Certificate). †¢ Joint Declaration Form (For joint a/c only). Employee’s Certificate (in case of service holder). †¢ One photographs of nominee. For Limited Company: †¢ Copy of valid trade license. †¢ Copy of certificate of incorporation. †¢ Certified Copy of Memorandum of Associations and Articles of Associations. †¢ Up to Date List of Directors. †¢ Board Resolution Regarding Opening and Operations of Bank Account With Mercantile Bank Limited †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Branch. †¢ (Resolution should be in accordance with the provision of Articles of Association of the Company. †¢ Copy of Certificate of Commencement of Business- for Public Limited Company Only. For Partnership Firms: †¢ Copy of valid trade license. †¢ Copy of Partnership Deed. Letter of Account Agreement (Partnership) Duly Signed by all The Partners in Their Personal Capacity. †¢ Letter of Partnership Duly Signed by All the Partners in Their Personal Capacity. Club / societies account †¢ Two photographs of each account holder. †¢ Board Resolution for Opening A/C duly certified by President/ Secretary. †¢ List of Existing Managing Committee. †¢ Registration (if any). †¢ Rubber Stamp. †¢ Permission letter from Bureau of N. G. O. (In case of N. G. O. A/C). ? SHORT TERM DEPOSIT(STD) This account is basically offered those customers who want to save money/ make transaction of a big amount at any time. The businessmen are mainly the customer of this account who makes huge amount transaction in a month. Customer can save his/ her money according to his/ her declaration. The minimum amount of opening charge of savings account is TK. 100,000. But it should be mentioned that when customer want to close, the tax is deducted from the interest and have to pay closing charge TK. 100. If want to transfer customer have to pay TK. 200 for transfer charge. Requirements: †¢ Form must be properly filled up †¢ Have a introducer who introduce the account holder †¢ Two copies of passport size photograph of account holder †¢ One copy of passport size photograph of nominee †¢ Have to fill up declaration form where must mention amount of each transaction and annual turnover †¢ Have to fill KYC (Know Your Customer) form, Have to submit National ID Card ( for all customer) †¢ Have to submit student ID Card (for student) †¢ Have to submit trade license (for business) †¢ Deed (for partnership) †¢ Have to submit TIN number †¢ Have to submit photocopy o f passport 3. 3:Different Types of Scheme and Features: ? MASHIK SHANCHOY SCHEME: The money is fixed up to a certain months or year. Bank gives them interest against this money. If customer doesn’t encashment his/ her fixed deposit at a time the amount is auto renewed and the interest is applied automatically at the account. |Amount |TK. 500 |TK. 1000 |TK. 1500 |TK. 2500 |TK. 000 | |Years | | | | | | |5 years |38250 |76500 |114750 |191250 |382500 | |8 years |71500 |143000 |214500 |357500 |715000 | |10 years |100000 |200000 |300000 |500000 |1000000 | ? DOUBLE BENEFIT SCHEME: Objectives: ? Give maximum benefit. ? Help in meeting specific needs like education, marriage etc. Deposit becomes double in seven and half years. Mode: Tenure of the deposit is 7. 5 years. Amount of DepositPeriod Amount Payable 1, 00,000 7. 5 Years 2, 00,000 Other Features: ? The Minimum amount of deposit is BDT 50,000. 00(Fifty thousand) or its multiples. ? All taxes/duty/levy and /or any other surcharge s presently in force or that may be imposed by the Government of Bangladesh (GOB) from time to time will be deducted/ recovered from the deposit account under this scheme. ? In case of premature encashment interest will be paid on Saving A/C Rate. ? Loan may be granted up to maximum 80% of the deposited amount but minimum principle amount must be BDT 20,000. 00. Loan processing fee be realized BDT 50. 00 only and usual stamp costs also be realized. For example: Initial amount is TK. 1000,000 The bank give interest TK. 100,000 against TK. 100,000 deposit Customer gets TK. 190,000 (200,000-100,[email  protected]% tax = TK. 190,000) Requirements: Form must be properly filled up, One copy of passport size photograph of account holder, One copy of passport size photograph of nominee, ? ADVANCED DEPOSIT SCHEME: Objectives: ? Get Extra benefit from Minimum Deposit. Mode: Maintained for a period of 2 (Two) years. Minimum deposit amount 1,00,000(One Lac) only. Interest Rate Per BDT One Lac : BDT 1 Lac (One Lac) , Tk. 9,500. 00 for first year Tk. ,09,250. 00 for second year. Other Features o All taxes/duty/levy and/or any other surcharges presently in force or that may be imposed by the government of Bangladesh from time to time in Deposit Accounts will also be applicable for the account for the account opened under this scheme and such taxes/duty/levy and/or any other surcharges shall be deducted/ recovered from the deposit account under this schemes. o Loan may be granted up to maximum 70% of deposit. ? Times Benefit Deposit Scheme Under the ‘1. 5 Times Benefit Deposit Scheme’ a deposit of minimum BDT 50,000. 00 (fifty thousand) or its multiples will be received for a period of 4. 2 years. On maturity, 1. 5 times of the deposited amount will be paid back to the account holder as per example given below: Example: Initial Deposit (BDT)50,000. 001, 00,000. 005, 00,000. 00 Return after 4. 2 years (BDT) 75,000. 00150000. 00 750000. 00 Other Features: ? All taxes/duty/levy and /or any other surcharges presently in force or that may be imposed by the Government of Bangladesh (GOB) from time to time will be deducted/ recovered from the deposit account under this scheme. ? In case of premature encashment interest will be paid on Saving A/C Rate. However, no interest shall be paid if premature encashment take place before expiry of 1 (one) year. In the event of death of the depositor before the maturity, the deposit account may be encased (premature) as per rule or may be continued up to maturity on written approach by the nominee(s). ? Loan may be granted up to maximum 80% of the deposited amount but minimum principle amount must be BDT 20,000. 00. ? Loan processing fee be real ized BDT 50. 00 only and usual stamp costs also be realized. ? FAMILY MAINTENANCE SCHEME Objectives: ? Help the retired persons for investing their retirement benefits. ? Create investment opportunities for Non-Resident Bangladeshi. ? Explore investment opportunities for school, college, university etc. ? Give investment opportunities for Trust; Foundation etc. Mode: Deposit a fixed amount of money for 05 (Five) years. Depositor will get a certain sum of money in each month proportion to his/her deposit during the entire tenure. Benefits: Tenure of deposit is 05 (Five) years. Minimum amount of required deposit is TK. 50,000. 00 or its multiple DepositMonthly Benefit (Amount in TK. ) 1, 00,000800 2, 00,0001, 600 3, 00,0002, 400 Other Features o The Minimum amount of deposit is BDT 50,000. 00 (Fifty thousand) or its multiples. o All taxes/duty/levy and /or any other surcharges persently in force or that may be imposed by the Government of Bangladesh (GOB) from time to time will be deducted/ recovered from the deposit account under this scheme. o In case of premature encashment interest will be paid on Saving A/C Rate. A saving account will be needed to be maintained to receive quarterly benefit payment. o Loan may be granted up to maximum 80% of the forced encashment value on the date of loan processing. During the period of continuation of loan, monthly benefits of FMD account will be credited only to loan account. o Loan processing fee be realized BDT 50. 00 only and stamp costs also be realized. ? QUARTERLY BENEFIT SCHEME The ‘Quarterly Benefit Deposit Scheme' will be maintained for a period of 3 (three) years and the minimum amount of deposit is BDT 50,000. 00 (fifty thousand) or its multiples. Interest will be paid on quarterly basis as per example given below. On maturity the principal amount will be paid back. Initial Deposit (BDT)TermQuarterly Benefit Payable (BDT) 50,000 3 Years 1,200 100,000 3 Years 2,400 200,000 3 Years 3,600 Other Features: ? All taxes/duty/levy and /or any other surcharges presently in force or that may be imposed by the Government of Bangladesh (GOB) from time to time will be deducted/ recovered from the deposit account under this scheme. ? Loan may be granted up to maximum 80% of the forced encashment value on the date of loan processing. During the period of continuation of loan, quarterly benefits will be credited only to loan account. ? Loan processing fee be realized BDT 50. 00 only and usual stamp costs also be realized. FIXED DEPOSIT: The money is fixed up to a certain months or year. Bank gives them interest against this money. If customer doesn’t encashment his/ her fixed deposit at a time the amount is auto renewed and the interest is applied automatically at the account. |Amount |Months/ Year |Interest | |TK. 10,000< |1 month/ 2 months/ 3 months |8. 5% | |TK. 10,000< |3 months< |11. 50% | o Form must be properly filled up One copy of passport size photograph of account holder o One copy of passport size photograph of nominee 3. 4: Cash Department: Opening of Cash: Beginning balance is used to start daily transaction & maintenance of Receipt and Payment Registers while receiving & paying different amount of cash. Previously issued cheque will be paid if issued 6 months before. Advance issued cheque cannot be made payment even one day before. Evening Banking: Can only receive cash. No payment can be made except some special cases. Issue Note: Notes issued by the bank & accepted by the people, fresh notes . Non-issue Note: Notes cannot be issued for public like torn, mutilated notes Soiled Notes etc. 3. 5: Clearing House: Functions of Clearing Clearing stands for mutual settlement of claims made in among member banks at an agreed time and place in respect of instruments drawn on each other. †¢ Clearing house is an arrangement under which member banks agree to meet, through their representative, at the appointed time and place to deliver instruments drawn on them. †¢ The net amount payable or receivable as the case may be, is settled through an account kept with the controlling bank (Bangladesh Bank). [pic] Types of clearing †¢ Outward clearing †¢ Inward clearing Types of returns †¢ Outward return †¢ Inward return Clearing (Outward) process: tier First tier: Collection Branch Second tier: Principal Branch/local office Third tier: Clearing house (Bangladesh Bank) Clearing (Inward) process: tier First tier: Clearing house (Bangladesh Bank) Second tier: Principal Branch/ Main Branch Third tier: Paying Branch 3. 6: ISSUEING PO, DD, TT: ? Pay Order: This is one type of security. This can not be transferred. Anyone can draw a pay order. The pay order can be encashment from any bank. |Amount |Commission |Vat | |1>10,000 |25 |4 | |10,000< 1,000,000 |50 |8 | |100,000