Information system of EXIM Bank Limited

Acknowledgement

It is our concession to thank ……….., lecturer of Department of …………………………… for rendering us his expertise knowledge and giving the opportunity of practical experiences through this assignment.

It would not be possible for me to complete this internship successful without the help of Nasir Uddin Ahmad, (Senior Vice president of EXIM Bank), so I am Grateful to him. I spoke to all the concerned intelligence officers of EXIM BANK LTD. Eskaton Branch. Who provided me with the information and handouts to complete this report; I would also like to thank all the officials of EXIM Bank Eskaton Branch Especially.

Practical Knowledge is fundamental for the application of theoretical intelligence. Being this in mind the course teacher assigned to prepare this assignment to the students of the course “Introduction to Management Information system”, MIS- 101. We cordially thank the honorable teacher to provide us the opportunity to apply class room learning practice. This assignment bridges the gap between them.

We also convey our deep gratitude to those people who have helped us to collect this information and supported us.

                                                                   

Letter of TRANSMITTAL

Date

…………………

Lecturer

Department Of ……………….

…………………….

Subject: Submission of Term Paper

Dear Sir,

With the due respect it is our pleasure to present the term paper entitled Assignment on “Export-Import Bank Limited”. While preparing the report we have tried our level best to focus closely on the topic and try to collect most complete and updated information available. We believe that it will provide a clear idea about Assignment on EXIM Bank.

To prepare this term paper, we have given best effort to accumulate needed information.

We will be available to answer any question for clarification. Thank you for your sincere support.

Sincerely yours,

Executive Summary

Being one of the best financial institutions of Export Import Bank of Bangladesh Limited enters in the business field with an objective to gradually become the top bank.

This report covers a thorough analysis about foreign exchange division of EXIM bank Limited, Eskaton Branch. First part of the report is about the organization. On the second part is including the details of foreign exchange division.

Foreign Exchange Division plays significant roles through providing different services for the customers. Letter of credit is the key player in the foreign exchange business. With the globalization of economies, international trade has become quite competitive. Timely payment of exports and quickly delivery of goods is, therefore, a pre-requisite for success of international trade operation. To ensure this purpose EXIM Bank Limited transmits through SWIFT to the advising bank.

Problems identified in Foreign Exchange Division are inadequate human resources, excessive work load, low salary relative to others private Bank. Insufficient knowledge about it and English, lack of data base networking in information technology system and space shortage. By knowing these, it may be possible to develop the conditions of Export Import Bank of Bangladesh Limited, Eskaton Branch.

Historical Background of EXIM Bank Ltd:

EXIM Bank limited was established in 1999 under the leadership of late Mr .Shahjahan Kabir, founder chairman who had a long dream of floating a commercial bank which would contribute to the socio-economic development of Bangladesh. He had a long experience as a good banker. A group of highly qualified and successful entrepreneurs joined their hands with the founder chairman to materialize his dream. Indeed, all of them proved themselves in their respective business as most successful star with their endeavor, intelligence, hard working and talent entrepreneurship. Among them, Mr. Nazrul Islam Mazumdar Became the honorable chairman after the demise of the honorable founder chairman.

This bank starts functioning from 3^rd August, 1999 with Mr. Alamgir Kabir, FCA as the advisor and Mr. Mohammad Lakiotullah as the Managing Director. Both of them have long experience in the financial sector of Bangladesh. By their pragmatic decision and Management Directives in the operational activities, this bank has earned a secured and distinctive position in the banking industry in terms of performance, growth, and excellent management. The authorized capital and paid up of there are Tk. 1000.00 million and Tk. 313.87 million respectively.

The bank has migrated all of its conventional banking operation into Shariah based Islami banking since July/2004. At its inception in 1999, bank named as “BEXIM Bank Ltd.” (Acronym for ‘Bengal Export import Bank Limited’) and owing to raising an objective by BEXIMCO group regarding, the similar names, the bank was renamed in the same to the style of “EXIM Bank Ltd.” (Acronym for ‘Export Import Bank of Bangladesh Limited.)”

Company profile:

EXIM Bank limited was established in 1999 under the leadership of Late Mr. SHAHAJAHAN KABIR, Founder chairman who had a long dream of floating a commercial bank which would contribute to the socio-economic development of our country. He had a long experience as a good banker. A group of highly qualified and successful entrepreneurs joined their hands with the founder chairman to materialize his dream. Indeed   ,all of them proved themselves in their respective business a most of  successful star  with their endeavor ,intelligence ,hard working and talent entrepreneurship. Among them Mr Nazrul Islam Mazumder became the honorable chairman after the demise of the honorable founder chairman. This bank starts functioning from the 3^rd August ,1999 with Mr Alamgir kabir ,FCA as the advisor and Mr .Mohammad Lakiotuallah as the managing Director. Both of them have long   experience in the financial sector of our country .By their pragmatic decision and management directives in the operational activities, this bank has earned a secured and distinctive position in the banking industry in terms of performance, growth, and excellent management .The authorized capital and the paid up capital of the bank are Tk 1000 million .The bank has migrated all of its conventional banking operation into Shariah based Islami Banking since July 2004.

Date of incorporation	June02,1999
Date of commencement	August 03,1999
Listing with Dhaka stock exchange	September 26,2004
Authorized capital	Tk.1000.00 Crore
Paid –up-capital	Tk 683.22 Crore
Profit	Tk3476.01(million)
Total Asset	Tk 113070.98(million)
Number of share	32,26,879
Face value	Tk.10.00 per share
Market lot	100
Number of Employees	1686
Number of Branches	62

Our vision and mission are stated in the following bullets:

• To be the finest bank in the banking arena of Bangladesh under the Shariah guidelines.
• To maintain corporate and business ethics.
• To become a trusted repository of customers’ money and their financial advisor.
• To make our stock superior and rewarding to the customers/share holders.
• To display team sprit and professionalism.
• To have a Sound Capital Base.
• To provide high quality financial services in export and import trade.
• To provide excellent quality customer service.

Special feature of EXIM Bank Limited:

• Though EXIM Bank Ltd. is engaged in conventional and commercial banking it also consider the inherent desire of the religious Muslims, and has launched Islamic banking system and inaugurated two Islamic banking branches in the year 2002 and one branch in 2003. And finally on 1^st of July 2004 the Bank fully converted a Shariah Based Islami Bank.
• It is pioneer in introducing and launching different customer friendly deposit schemes to tap the savings of the people for challenging the same to the productive sectors of the economy.
• For up lifting the standard of living of the limited income group of the population the bank has introduced monthly savings schemes to encourage the common and fixed income group of people.
• The bank is committed to continue research and development so as to keep pace with modern banking.
• The banks have introduced customer’s relations management system to asses the needs of various customers and resolve any problem on the spot.
•  The bank has introduced camera surveillance system (CCTV) to strengthen the security services inside the bank premises.
• The bank has also decided to go for online banking facility to the patron in near future.

Products and services

Deposit Accounts and Schemes

As a normal practice of a commercial bank, EXIM Bank provides Savings account and Current account opportunities for its clients. Further to these it presents a good number of deposit schemes with better earning terms. These schemes are:

• Mudaraba Term deposit
• Mudaraba Education Deposit
• Mudaraba Super Saving Scheme
• Mudaraba Monthly Saving Scheme
• Mudaraba Multi plus Saving Scheme
• Mudaraba Hajj Deposit Scheme

These deposit accounts and schemes are developed to accumulate your small savings for facing future needs of big amounts. If you plan well now and avail a scheme you may overcome tough time in coming days.

Credit Schemes

EXIM Bank offers credit support to clients both at retail level and corporate level. The schemes at retail level are here below:

• EXIM Bahan
• EXIM Sahayak
• EXIM Abasan

You desire to buy a car, but it may be difficult to accumulate the total amount at a time. EXIM Bahan provides an amount that helps you to buy the automobile for personal use or business. Maximum amount allowable is Tk. 20.0 lack and payback terms are competitive.

EXIM Sahayak is applicable for buying house hold durables of entertainment, comfort or normal use. The maximum amount of loan under this scheme is Tk. 3.0 lack.

A member of lower middle class or limited income group secretly nourishes dream of having a house of his own. But it’s very difficult for him to achieve one. Exim Abasan arranges fund for him at reasonable terms and conditions. Maximum loan under this head is Tk. 50.0 lack.

Under Corporate Investments this bank comes up with Trade Finance, Industrial Finance, Project Finance and Syndicate Investment. EXIM Bank provides credits to deserving clients with a view to generate employment and to achieve sustainable economic growth for the country. At the same time EXIM Bank’s profit and growth is also taken care of. The credit schemes address all thrust sectors and economically potential fields of Bangladesh. The major sectors of investment are as the following:

• Garments
• Information Technology
• Agriculture and Agro vest Industries
• Fishing and Fish processing
• Tannery
• Transport and Communication
• Plastic and Synthetics
• Hospitals, Clinics and Pathological Labs
• Tourism and Hotels
• Real estate and many others

Other than above, EXIM Bank deals in Foreign Exchange and manages Trade finance for the customers. EXIM Bank maintains a strong hold in foreign currency market through its 19 Authorized Dealer Branches at key points all over the country. So, EXIM Bank is well equipped to meet your foreign exchange needs at any time.

EXIM Bank caters your import and export businesses with fund and documentary credit as and when required through its branches in the country and 354 correspondent banks all over the globe.

SME sector is one vital field of economic activities for a country like ours. EXIM Bank naturally imposes proper weight here. EXIM Uddyog and EXIM Abalamban are the two heads of financing SMEs.

Other products and services

Home bound remittance is the life line of our economy. EXIM Bank maintains two money exchanges, one in the UK and another in Canada to enhance remittance in flow. Moreover it maintains Nostro accounts in different potential countries to help wage earners sending money to their families.

EXIM Bank presents Credit card services at minimum fees. It offers two options in card, local and international. International one provides dual currency service for you. Each of the card types has two options of ‘Gold’ and ‘Classic’ which limit the credit amount.

As a modern bank EXIM has taken up the latest technology of Internet banking. It provides you SMS service as well. Your bank has been brought to your finger tips by EXIM Bank.

EXIM Bank Limited markets its each and every product and service after proper examination

 by its Shariah Board for coherence with Islamic Laws. So you are very much safe being with

 EXIM Bank in terms of your belief in Islam.

Information System of EXIM Bank

An Information System is a collection of components that work together to provide Information to help in the operations and management of an organization. EXIM Bank has an information system of its own. It uses Application software to build a network system.

Components of the Network system:

Ø  Hardware

Ø  Software

Ø  Stored data

Ø  Users

Ø  Procedures

Hardware:  This organization use desktop & Laptop computer including

Ø  CPU

Ø  LED Monitors

Ø  Keyboards

Ø  Mouse

Ø  Speakers

Ø  2 Laser Printers

Software: This organization has 3 servers.

1.      Progry server (Information sharing software)

2.      E-mail server

3.      Software server

1.      Progry server: By using this server the organization use internet in very short time.

2.      E-mail server: Employees interchange data and information by using E-mail server.

3.      Software server: Mainly Account section uses this server for their purpose.

Stored data: The organization has 6 Departments

Ø  HRM Department.

Ø  Account & Finance Department.

Ø  Marketing & Distribution Department.

Ø  Production & Inventory Department.

Ø  Information Technology Department.

Ø  Research and Development Department.

Every section stores all types of information of their activities in the organization’s database.

Procedures: as the system is made by the organization, it has some different Procedures to follow.

Network System: It has its own LAN.

Using the system:

Employees use the system by pressing keys on keyboards or by operating mouse that send data to computers, after receiving data computer process the date and then send the output information back to employees, often displaying it on the screen and printing on a paper when required.

Processing Information:

1.      Entering retailer orders: Retailer’s order acceptance and preparation of a sales order in a form the organization use. Usually part of the Marketing Department and performed in the Sales section.

Ø  Inputs

a.       Customer orders received by mail, phone, fax, email, and other methods

Ø  Outputs

b.      Sales order

2.      Billing retailers: Billing Department prepares the retailer’s bill for selling goods. Billing department is the part of the Accounting Department.

Ø  Inputs

a.       Sales order

Ø  Outputs

b.      Invoice

3.      Collecting retailer’s payments: The Accounts Department uses a copy of the invoice produced by the Billing Department to keep track of the amount a retailer owes the business.

Ø  Inputs

a.       Invoice

b.      Retailer payments

Ø  Outputs

c.       Accounts receivable reports

4.      Keeping track of inventory: Production & Inventory Department keep track of its inventory and report when inventory is low so it can reorder more stock.

Types of inventory

a.       Raw Materials

b.      Work-in-Process

c.       Finished goods

Ø  Inputs

a. Receiving notice

Ø  Outputs

b. Inventory reorder report

5.      Purchasing stock and material: Production Department determines the best suppliers and prepares purchase orders which indicate to the suppliers what items the business wants to purchase.

Ø  Inputs

a.       Inventory reorder report

Ø  Outputs

b.      Purchase order

6.      Paying bills: Accounts Department uses a copy of the purchase order to keep track of money owed by the business for purchases, called accounts payable.

Ø  Inputs

a.       Purchase order

b.      Invoice from supplier

Ø  Outputs

c.       Accounts payable report

7.      Paying employees: Involves paying employees wages or salaries and providing reports to other business functions. A part of HRM Department.

Ø  Inputs

a.       Employee work report (time sheet)

Ø  Outputs

b.      Paychecks to employees

8.      Reporting financial information: Provides reports of financial information for the management and owners of the business. A part of the Accounting Department.

Ø  Inputs

a.       Reports on revenue, expenses, assets and liabilities – the transactions of the business

Ø  Outputs

b.      Balance Sheet

c.       Income Statement

Benefit:

Ø  Better Information: By using E-mail server and Progry server they can get better Information which help to make good decision.

Ø  Saving Time: By using E-mail server employees interchange information in a very short time and save their time.

Ø  Better Communication: Production & Distribution Department is at Narayngonj and other Departments are in Dhaka City. By using E-mail server Departments communicate with each other.

Ø  Increase Productivity: By using network system it increases its Productivity. Because organization saves times by using network system and utilize the times. This how it increases its Productivity 6.42% last year.

Ø  Competitive Advantages: By using their special network system Marketing & Distribution Department and Production & Inventory Department complete their tasks properly and effectively and decrease the cost of the organization. This how it earned 5.2% more profit.

Conclusion:

As the organization use network system it enjoys some benefits. Organization has plan to make all departments full computerized and want to enjoy more competitive advantages.

Thankyou