Foreign Exchange Service of Bank Asia Limited Essay Example for Free

Foreign Exchange Service of Bank Asia Limited Essay 1. Introduction The banking sector in Bangladesh comprises of four categories of scheduled banks. These are, nationalized commercial banks (NCBs), government owned development finance institutions (DFIs), private commercial banks (PCBs) and foreign commercial banks (FCBs). Performance of these banking sectors under CAMEL framework, which involves analysis, and evaluation of the five crucial dimensions of banking operations, the five indicators used in the rating system are (I) Capital adequacy (ii) Asset quality (iii) Management soundness (iv) Earnings and (v) Liquidity. In addition, foreign Exchange Service is one of the major considering factors regarding these indicators. The bank acts as a media for the system of foreign exchange policy. The principles of foreign exchange service involve the entire system, the media used, and the monetary unit. According to Mr. H.E. EVITT Foreign Exchange is that section of economic science which deals with the means and methods by which right to wealth in one countrys currency is converted into rights to wealth in terms of another countrys currency. So bank should be aware about this section for the overall development of the economy. 2. Background of the study An internship program’s necessity is originated for implementing the theoretical knowledge in particle field. Therefore, internship program is included in BBA program. The goal of this report is to identify the contribution and the effect of foreign exchange service in Bank’s net profit. 1.3 Rational Of the Study The rational of the study is to know more about the course in practical life. This study also helped me to know the banking system. From this study I learned about the different functions in the bank like offering online banking, pay order, foreign remittance, foreign trade, investment etc. I also learned how the banks perform these functions, what problems they face, and their benefit in offering different services to their clients. Then I was assigned in foreign trade department, so I have learned about L/C Files, register and over all L/C mechanism. In this section, how they provide their services to the clients I have also learned about it. As a student of Finance, it is very important for me to acquire proper knowledge in this course to get better result in the future. 1.4 Objectives of the Study 1) The prime objective of the study is to understand various functions of Banks. I tried to evaluate the present condition of the banks. 2) To know about various products services of this bank, and to know about the banking terms as well as habituate with banking environment. 3) To know how they find out the risk of the foreign trade. 4) To know how they identify these types of risk and minimize them. 1.5 Methodology of the study For preparing the report, I followed the following steps: âž ¢ Primary Information: First, I collected data about the Foreign – Exchange Service in Bank Asia ltd. MCB Dikusha Branch by tenting to personnel working in the bank. âž ¢ Secondary Information: Then in the second stage, I analyzed the collected data, working in Foreign Trade Department. Again, †¢ Personal Observation †¢ File Finding †¢ Annual Reports of BAL †¢ Articles of BIOM helped to prepare this report. 1.6 Limitations of the Study Not all the information of a Bank can be disclosed. It is very much essential for a bank to provide security to the customer. So the perfect information might not be shown in all places. The Employees of the Bank are also very busy. Therefore, the employees of the bank do not have enough time to provide me help regarding preparing report. Therefore, it was very hard for me to collect the data and bring out the proper information in order to make report look good. I had to go through many obstacles in order to make it presentable. 1.7 Scope of the Report The scopes of the report are as follows: †¢ The report would help the top management to identify the key areas of weakness and strength in foreign exchange service. †¢ The scope of the study is based on brief description of BAL has been furnished. †¢ The study may help top management in planning and decision making regarding foreign exchange service. CHAPTER 2: AN OVERVIEW OF THE PRINCIPAL ACTIVITIES OF â€Å"BANK ASIA LIMITED† 2.1 OVER VIEW OF BANK ASIA LIMITED: Bank Asia Limited (Ltd) has been launched by a group of successful entrepreneurs with recognized standing in the society. The paid up capital of the Bank is 1395 million. The management of the Bank consists of a team led by senior bankers with decades of experience in national and international markets. The senior management team is ably supported by a group of professionals many of whom have exposure in the international market. Bank Asia Limited is one of the third generation private commercial banks (PCBs), incorporated in Bangladesh on 28 September 1999 as a public limited company under the Companies Act 1994, and governed by the Banking Companies Act 1991. The Bank went for public issue of its shares on 23 September 2003 and its shares are listed with Dhaka Stock Exchange Ltd and Chittagong Stock Exchange Ltd. Bank Asia Limited acquired the business of Bank of Nova Scotia (incorporated in Canada), Dhaka, in the year 2001 and at the beginning of the year 2002, the Bank also acquired the Bangladesh operations of Muslim Commercial Bank Limited (MCBL), a bank incorporated in Pakistan, having two branches at Dhaka and Chittagong and one booth at Dhaka. In taking over the Bangladesh operations, all assets and certain specific liabilities of MCBL were taken over by Bank Asia Limited at book values. Within a short span of time Bank Asia Ltd has established itself as one of the fast growing local private banks. It has at present a network of Thirty three branches serving many of the leading corporate houses and is gradually moving towards retail banking. Another significant delivery channel is its own as well as shared ATM Network. Bank Asia has a network of 25 ATMs out of which 6 it owns. The other 19 ATMs are shared through ETN with eleven other banks. Since its humble beginning in 1999, it set milestone by acquiring the business operations of the Bank of Nova Scotia in Dhaka, first in the banking history of Bangladesh. It again repeated the performance by acquiring the Bangladesh operations of Muslim Commercial Bank Ltd. (MCB), a Pakistani bank. In the year 2003 the Bank again came to the limelight with oversubscription of the Initial Public Offering of the shares of the Bank, which was a record (55 times) in our capital market’s history and its shares commands respectable premium. The asset and liability growth has been remarkable. By Dec 2007 the total asset of the Bank grew to Tk 38436 million, increase of almost 26% comparing to 2006. As of Dec 2007 deposits increased to Tk 30004 million, an increase of 19% over that of 2006, and Loans Advances reached Tk 28456 million, an increase of 28% over that of 2006. Bank Asia has been actively participating in the local money market as well as foreign currency market without exposing the Bank to vulnerable positions. The Bank’s investment in Treasury Bills and other securities went up noticeably opening up opportunities for enhancing income in the context of a regime of gradual interest rate decline. Bank Asia Ltd is maintaining its competitiveness by leveraging on its Online Banking Software and modern IT infrastructure. It is the pioneer amongst the local banks in introducing innovative products like SMS banking, and under the ATM Network the Stelar Online Banking software enables direct linking of a client’s account, without the requirement for a separate account. 2.2 VISION STATEMENT OF BANK ASIA LIMITED: Bank Asia’s vision is to have a poverty free Bangladesh in course of a generation in the new millennium, reflecting the national dream. Our vision is to build a society where human dignity and human rights receive the highest consideration along with reduction of poverty. 2.3 MISSION STATEMENT OF BANK ASIA LIMITED: To assist in bringing high quality service to our customers and to participate in the growth and expansion of our national economy. To set high standards of integrity and bring total satisfaction to our clients, shareholders and employees. To become the most sought after bank in the country, rendering technology driven innovative services by our dedicated team of professionals. 2.4 CAPITAL STRUCTURE: Banks generally do their business with other’s fund, so Bank Asia Ltd is not in exception. Bank Asia Ltd uses 24% equity and 75% Debt source of capital. The capital structure is following:

Albert Camus The Myth of Sisyphus Essays -- Papers Albert Camus Sisyp

Albert Camus' The Myth of Sisyphus Albert Camus' essay, 'The Myth Of Sisyphus' is an insightful analysis of the classic work, 'The Myth Of Sisyphus'. In some regards Camus' view of Sisyphus can seem quite accurate and in tune with the original text, but based on Camus' interpretation of the justness of Sisyphus' punishment, it is clear that the writer has some different ideas as well. Camus concludes that this punishment does not have the effect the Gods had intended, and ultimately the tragic hero must be seen as being 'happy'. This is his greatest departure from the intent of the original myth wherein the reader is left with the feeling that Sisyphus' punishment can be seen as appropriate and just. As his punishment for repeatedly outwitting the Gods, Sisyphus is forced to roll a great rock up a steep hill only to have it roll back down each time he reaches the top, forever condemned to repeat the process over and over again. It is this punishment that Camus is most focused on, as the topic of Sisyphus? trickery only comes up to give the reader some background on the story. It is unusual however that Camus considers this punishment as an, ?unspeakable penalty in which the whole being is exerted toward accomplishing nothing?, and at the same time assumes that; ?The struggle itself towards the heights is enough to fill a man?s heart.? The gratification that one might find through hard work could certainly be seen as an accomplishment, but it?s hard to see how this pertains to Sisyphus. Camus states that, ?the workman of today works every day in his life at the same tasks?, and that his fate is, ?no less absurd.? If a man whistles while performing his laborious job it is onl y because it is assumed that the fruits... ...l text was meant to represent. Camus states that, ?myths are made for the imagination to breathe life into them?, and he surely takes advantage of this. If it is true that Sisyphus truly owns his fate and is the master of his own ?absurd? universe, then that should be seen as his greatest punishment of all, for it does not amount to very much, and as Camus himself pointed out, ?the rock is still rolling.? Bibliography: Works Cited Bierlein, J.F. ?The Myth Of Sisyphus.? Lives Through Literature A Thematic Anthology (3rd ed.). Helane Levine Keating and Walter Levy. New Jersey: Prentice Hall, 2001. 1042-43. Camus, Albert. ?The Myth Of Sisyphus.? Lives Through Literature A Thematic Anthology (3rd ed.). Helane Levine Keating and Walter Levy. New Jersey: Prentice Hall, 2001. 1044-46.

Retaining High Potential Employees

Generally, talent management refers to the identifying, developing, and retaining high potential employees for top key business positions including training, career planning, HR development, succession planning, performance management, balanced demand and supply of qualified workforces so that the organization can reach to their target goal but the approaches vary from organization to organization (Mathis & Jackson, 2008, p. 292) [14]. Talent management is one of the fundamental terms in the operational area of HR governance where talent attraction, talent development, talent deployment and retention are four major paradigms to ensure the sustainability of human resources(Grobler, Bezuidenhout and Hyra, 2014) [15]. If there is no proper managerial succession planning, the practice of learning organization, career planning and mentoring, then the retention of highly talented people would be very challenging for the long run. The current study also expects the positive relationship between talent management and sustainable human resource development and develops the following hypothesis:H1: There is positive relationship between talent management and sustainable human resource development. 3.2 Consolidated HR policy:The practices of sound HR policies directs towards the strong committed labor pool for any organization. HR policy is the foundation of all HR activities. It is the written directions about the employment and plays a remarkable role to implement organization's HR strategy effectively like transforming organization into a more optimistic perception, transparency and psychological contact regarding the job (Watson, 2013) [16]. Moreover, it is not static dictation rather continuously updated and improved with the changing environment such as developing new HR policies, implementing, reviewing and ensuring that human resource expertise is represented as part of the skill set of the board of directors (Moore, 2011) [17]. The current study ought to examine the relationship between consolidated HR policy and sustainable human resource development and following hypothesis is developed:H2: There is positive relationship between consolidated HR policy and sustainable human resource development. 3.3 HR risk management:Although risk is inevitable in business environment, it is also common in HR practices. So, the organizations need to identify, observe, prioritize and manage key HR risks with a pragmatic, integrated and coordinated approach which might be comprehensive analysis of its personnel risks. For instance, the optimistic HR environment leads to the minimum level of risk and increases an organization's ability to manage risks. HR Risk Management Service Line Leader in the United States of America (USA); Christopher Lipski pointed that managing risk in the HR area has gaining increasingly importance for global executives (Ernest & Young, 2009) [18]. Good HR governance includes the proper risk monitoring activities such as standard code of ethics, contingent management, conflict, stress management and so on. As proactive approach, companies must be careful of becoming risk complacent when they assume that they can forecast the future accurately (Taleb, 2007) [19]. This hypothesis is developed to prove the following relationship:H3: There is positive relationship between HR risk management and sustainable human resource development. 3.4 Employee development:The actual growth of an organization completely depends upon the intelligent and skilled employees' collaborative team performance. From this perspective, employee development is an emerging issue for the sake of organizational development. It means the physical and psychological both development of employee and organization as a whole. Hence, it is believed that when human resources would develop, organization would be more flourished regarding its overall growth (Elena, 2000) [20]. Now, it is a common practice to all concerned organization to turn the human resources into the human capital through effective training and development, offering the scope of self-actualization, coaching and mentoring, on the job career development and overall interpersonal skill development which will lead to the intended employee performance. The following hypothesis is developed to examine the relationship between employee development and human resource development:H4: There is positive relationship between employee development and sustainable human resource development. 3.5 Compensation benefits:Simply, the compensation is the monetary value to an employee in return of his/her services. It comprises some other benefits and rewards for the employees which they receive in the forms of pay, wages, fringe benefits and so on which work as motivating factor behind their best performance (Holt, 1993) [21]. The behavioral aspects of employees are affected by compensation. Monetary benefits can increase feelings of self-reliance (Vohs, Mead, ; Goode, 2006, 2008) [22] and also increase pain tolerance (Zhou, Vohs, ; Baumeister, 2009) [23]. If the compensation system is appropriate for all then organizational policies and procedures could have their desired effects. Moreover the structure and implementation of compensation systems not only can affect employee motivation, but also can improve safety, quality, and creativity at their workplace. The following hypothesis focuses on the impact of compensation on human resource development:H5: There is positive relationship between compensation benefits and sustainable human resource development.3.6 Employee welfare:Employee welfare comprises various benefits and facilities such as allowances, housing, transportation, office time meal and medical insurance etc. It also includes monitoring of working conditions, creation of industrial harmony and so on. Employee welfare oriented environment leads to increase the number of satisfied employees which ultimately ensures the incremental profitability growth. Some common cherished employee welfare activities at workplace are flexibility in job responsibility, community benefits, transportation facilities, childcare facilities and so on. Some Bangladeshi organizations are practicing the employee participation in Workers Profit Participation Fund (WPPF) which is one of the significant fringe benefits for employee welfare. Bangladesh Labor Law (Amendment) 2013, Section 234 of the Act No. 42 of 2006[24]. -In Section 234 of the said Act – (a) Replacing Clause (b) of Sub – Section (1), the following Clause (b) shall be replaced, e.g.: (b) of the owner within maximum nine months from the completion of a year, 5 percent from the net profit for the year shall contribute to the WPPF with a proportion of 80: 10: 10 to the Participatory Fund, Welfare Fund and Workers' Welfare Foundation Fund established under Section 14 of the Bangladesh Workers Welfare Foundation Act, 2006[25]: Provided that if any employer has paid one percent (1%) of net profit to the Welfare Fund immediately before effectiveness of this Act, the Board of Trustees is obligated to transfer 50% of deposited amount in favor of the Welfare Fund to the Workers Welfare Foundation Fund. This hypothesis is developed to prove the following relationship:

Analysis of Exxon Mobil Corporation Free Essay Example, 1750 words

By 1958, the Socony Mobil Oil Company had reached approximately $2.8 billion dollars in revenue, which, by 1968, was$6.5 billion. Throughout the 1960s, Mobile expanded its drilling into the Middle East, the southern United States, the North Sea, and Alaska. In this time, however, the Organization of Petroleum Exporting Countries (OPEC) expanded to develop its quickly growing global cartel, which, of course, negatively affected the course of the corporation’s business throughout the world. During the Oil Crisis of the 1970s, Mobil’s profits soared dramatically. OPEC’s embargo caused the price of oil to quadruple overnight, and energy awareness came in vogue. Mobil’s oil sales tripled between the years of 1973 and 1977, the peak years of trouble during the crisis. 1974’s extraordinary profits brought Mobil to the center of public and congressional criticism, as the public continued to suffer the effects of a weakened global economy. After the success of the 1970s, Mobil found itself locked into contracts with the ever increasingly expensive price of Saudi crude in the 1980s. This resulted in substantial losses and cuts to reduce debts. These challenges for Mobil continued into the 1990s, as the Persian Gulf War and instability in the Middle East threatened the company’s relationship with the Saudis. We will write a custom essay sample on Analysis of Exxon Mobil Corporation or any topic specifically for you Only $17.96 $11.86/pageorder now The recession continued into 1992, which brought further losses and negative estimates. However, by 1994, the company’s position stabilized, putting it in a good position to consider offers for a merger and a restructuring of its business organization. The 1990s had brought a substantial expansion in the company’s retail presence. Like the history of Mobil, the history of Exxon is one of numerous challenges and successes. John D. Rockefeller’s Standard Oil came into existence in 1839, and by 1870, had formed a monopoly on the oil sector in the United States. Standard Oil Company continued its growth into a major player in the oil sector both within and without the United States. It maintained a number of smaller subsidiaries to create a mix of refined products that invariably catered to and advanced social and technological changes throughout the world, such as the use of kerosene in the 1950s, the sale of gasoline in the 1960s, and the proliferation of retail gasoline distribution centers throughout the 1980s and 1990s. In 1972, Standard Oil changed its name to Exxon, and, with the burgeoning oil crisis, faced a number of issues. Corporate sales skyrocketed, with revenue doubling between 1972 and 1974 from $20 billion to $40 billion, and then to $100 billion in 1980.