1. 1
Chapter-1
Introduction
1.1 Introduction of the Report
As a part of the internship Program of BBA course requirement, I was assigned to do my
internship in Southeast Bank Limited (SEBL) for a period of three months. Southeast Bank
Ltd. is one of the private-sector commercial bank in Bangladesh, with years of experience.
Adaptation of modern technology both in terms of equipment and banking practice ensures
efficient service to clients. Through 113 branches, SEBL is providing its best service to both
clients and country. This report “Foreign Remittance Management of Southeast Bank Limited -A
study of Chowhatta, Corporate Branch, Sylhet” has been prepared to fulfill the partial
requirement of BBA program as a mean of Internship Program. While preparing this report,
I had a great opportunity to have an in depth knowledge of all the banking activities of
Southeast Bank Limited as I worked as an intern there.
1.2 Background of the Report
Now we are living in the age of competition at anything in any places. From that tendency
recently education is also in the age of competition. So the procedures and standards of
teaching are upgraded by different universities and institutions in our country. In respect to
that, internship is mandatory for our BBA program offered by Leading University. This
program is a partial fulfillment of our BBA curriculum. To do so I decided to complete my
internship in Southeast Bank Limited. Throughout the period of my internship, I had been
working in Audit Trial Division & Front Desk. Under internship program each student has
to prepare a report on a particular topic related with the organization. On the basis of my
practical experience as well as theoretical knowledge, I have completed the report on
“Foreign Remittance Management of Southeast Bank Limited -A study of Chowhatta,
Corporate Branch, Sylhet”.

2. 2
1.3 Scope of the Report
In order to maintain the speed of development now banks must compete in the market place
both with local institutions as well as foreign ones. The presentation of the organizational
structure and policy of Southeast Bank Limited and investigating the strategies applied by
them provide the scope of this report. The scope of this report is limited to the overall
description of the banks, their services, their position in the industry, their financial
performance and analysis of the practical progress of their operation. The scope of the study
is limited to organizational setup, functions and performances.
 Recent performance of SEBL in terms of deposit, investment and foreign exchange.
 To analyze the banks current financial flows performed by SEBL.
 To obtain practical experience about banking activities by involving such type of
program.
 To build professional carrier in the banking sector as well as any credit providing
institution.
1.4. Objectives of the Report
1.4.1 Generalobjective:
 To find out the overall management of foreign remittance of Southeast Bank
Limited and to apply the theoretical knowledge gained from the course work to
practical.
1.4.2 SecondaryObjective:
 To Understand and analyze the overall activities of Southeast Bank Ltd
 To evaluate the existing activities and techniques of Southeast Bank Ltd
 To study the operational efficiency of Southeast Bank Ltd
 To learn practically about what I have been studied theoretically
 To point out main facts of the study and provide some valuable recommendation

3. 3
1.5. Methodology of the study
The study requires various types of information of present policies, procedures and methods
of Foreign Remittance Management. Both primary and secondary data available have been
used in preparing this report.
(a) Primary sources
1. Practical desk work
2. Face to face conversation with the officer
3. Direct observations
4. Face to face conversation with the client
(b) Secondary sources
1. Annual report of SEBL-2015
2. Files & Folders
3. Memos, Circulars and prospectus
4. Daily diary (containing my activities of practical orientation in SEBL) maintained
5. Various publications on Bank,
6. Website of Southeast Bank Ltd,
7. Website of Bangladesh Bank,
8. Different circulars sent by Head Office and Bangladesh Bank.

4. 4
1.6. Limitation of the Report
There were some problems in conducting the internship program. A wholehearted effort was
applied to conduct the internship program and to bring a reliable and fruitful result. In spite of
having the wholehearted effort, there exit some limitations, which acted as a barrier to
conduct the program. The limitations were-
 Sometimes I was assigned to do some extra jobs which is not much important or
related with the report topic. This situation has created a lot of problems and waste
of time.
 Learning all the banking functions within just two and half months was really tough.
 Another limitation of this report is Bank’s policy of not disclosing some confidential
data and information for security reasons, which could be very much useful.

5. 5
Chapter-2
Literature Review
2.1 History of Banking Industry in Bangladesh
Bank industry is not a new concept for Bangladesh before liberation it also was available in
Bangladesh. Before the liberation war there was a branch office of the former state Bank of
Pakistan in Bangladesh. Other than that there were seventeen large commercial banks, two
of which were controlled by Bangladeshi interests & three by foreigners other than West
Pakistanis. There were fourteen smaller commercial banks. Nearly all banking services were
concentrated in urban areas. The newly independent government immediately designated the
Dhaka branch of the State Bank of Pakistan as the central bank & renamed it the Bangladesh
Bank. Initially Bangladesh bank was responsible for regulating currency, controlling credit
&monetary policy, and administering exchange control & the official foreign exchange
reserves. The Bangladesh government initially nationalized the entire domestic banking
system & proceeded to reorganize & rename the various banks. Foreign-owned banks were
permitted to continue doing business in Bangladesh. But later they also permitted the private
investors to start banking activities & gradually the number of private banks& their
dominance is increasing day by day.

6. 6
2.2 Banks Performing in Bangladesh
Banking sector has a vital role to play in the economic activities & development of any
economy. This sector is much more important in a developing country like Bangladesh. The
whole scenario of the economy of a country can be ascertained by examining the condition
of the banking sector. In Bangladesh, the banking sector dominates the financial sector &
macroeconomic management largely depends on the performance of the banking sector.
Different types of bank are performing in Bangladesh; from their four are nationalized
commercial banks, around thirty nine private commercial banks, ten foreign multinational
banks & some specialized banks. In details those are given below:
2.3 Central Bank
Bangladesh Bank, the central bank and apex regulatory body for the country's monetary and
financial system, was established in Dhaka as a body corporate vide the Bangladesh Bank
Order, 1972 (P.O. No. 127 of 1972) with effect from 16thDecember, 1971. At present it has
ten offices located at Motijheel, Sadarghat,Chittagong, Khulna, Bogra, Rajshahi, Sylhet,
Barisal, Rangpur and Mymensingh in Bangladesh; total manpower stood at 4951 (officials
3961, subordinate staff 990) ason November 30, 2012.
2.3.1 Vision
To develop continually as a forward looking central bank with competent and committed
professionals of high ethical standards, conducting monetary management and financial
sector supervision to maintain price stability and financial system robustness, supporting
rapid broad based inclusive economic growth, employment generation and poverty
eradication in Bangladesh.

7. 7
2.3.2 Mission
Bangladesh Bank carrying out its following main functions as the country’s central bank:
 Formulating monetary and credit policies;
 Managing currency issue and regulating payment system;
 Managing foreign exchange reserves and regulating the foreign exchange market.
 Regulating and supervising banks and financial institutions, and advising the government
on interactions and impacts of fiscal, monetary and other economic policies.
2.3.3 Functions
Bangladesh Bank performs all the core functions of a typical monetary and financial sector
regulator, and a number of other non core functions. The major functional areas include:
A. Formulation and implementation of monetary and credit policies.
B. Regulation and supervision of banks and non-bank financial institutions, promotion and
development of domestic financial markets.
C. Management of the country's international reserves.
D. Issuance of currency notes.
E. Regulation and supervision of the payment system.
F. Acting as banker to the government.
G. Money Laundering Prevention.
H. Collection and furnishing of credit information.
I. Implementation of the Foreign exchange regulation Act.
J. Managing a Deposit Insurance Scheme.

8. 8
2.4 Nationalized Commercial Banks
The banking system of Bangladesh is dominated by the 4 nationalized Commercial
Banks, the nationalized commercial banks are:
 Sonali Bank
 Janata bank
 Agrani Bank
 Rupali Bank
2.5 Private Commercial Banks
Private bank are the highest growth sector due to the dismal performances of government
banks (above). They tend to offer better service & products. Now a day’s private banks are
growing like mushroom. Private commercial banks are divided into four groups according to
their commencement of business. They are familiar in the name of 1st generation, 2nd
generation, 3rd generation banks and 4th generation banks.
 AB Bank Limited
 Al-Arafah Islami Bank Limited
 Bangladesh Commerce Bank Limited
 Bank Asia Limited
 BRAC Bank Limited
 Dhaka Bank Limited
 Dutch-Bangla Bank Limited
 Eastern Bank Limited
 Exim Bank Limited
 First Security Islami Bank Limited
 ICB Islamic Bank

9. 9
 IFIC Bank Limited
 Islami Bank Bangladesh Ltd
 Jamuna Bank Limited
 Mercantile Bank Limited
 Mutual Trust Bank Limited
 National Bank Limited
 NCC Bank Limited
 One Bank Limited
 Prime Bank Limited
 Pubali Bank Limited
 Shahjalal Islami Bank Limited
 Social Investment Bank Ltd
 Social Islami Bank Limited
 Southeast Bank Limited
 Standard Bank Limited
 The City Bank Limited
 The Premier Bank Limited
 Trust Bank Limited
 United Commercial Bank Limited
 Uttara Bank Limited
 Modhumati Bank,
 South Bangla Agriculture and Commerce Bank
 Farmers' Bank
 Union Bank

10. 10
2.6 Foreign Banks
Foreign banks have very little market share & limited geographic coverage in Bangladesh,
but they are highly known for their quality service. Private commercial banks fall between
these groups. Name of foreign banks performing in Bangladesh is giving below;
 Citigroup
 HSBC
 Standard Chartered Bank
 Commercial Bank of Ceylon
 State Bank of India
 Habib Bank
 National Bank of Pakistan
 Woori Bank
 Bank Alfalah
2.7 Specialized Banks
 Grameen Bank
 Bangladesh Krishi Bank
 Bangladesh Development Bank
 Rajshahi Krishi Unnayan Bank
 Basic Bank Ltd (Bank of Small Industries & Commerce)
 Bangladesh Somobay Bank Limited (Co-operative Bank)
 The Dhaka Mercantile Co-operative Bank Limited (DMCBL)

11. 11
Chapter-3
A Profile of Southeast
Bank, Sylhet Branch
3.1 Profile of Southeast Bank Limited
Southeast Bank limited is a second generation bank that was established in 1995 with a
dream and a vision to become a pioneer banking institution of the country and contribute
significantly to the growth of the national economy. The bank’s journey begun when it was
incorporated as public Limited company on March 12, 1995. The Registrar of Joint Stock
companies and firms issued the certificate of commencement of the business of the bank on
the same date. The bank received its banking license from Bangladesh Bank on March
231995. The bank’s first branch was opened by Late Md. Saifur Rahman, the then honorable
finance minister of the government of People’s Republic of Bangladesh as the chief guest at
the busiest commercial hub the country at 1, Dilkusha Commercial Area, Dhaka on May 25,
1995. In its arduous journey since, Southeast Bank Limited has succeeded in realizing the
dreams of those who established it. Today it is one of the country’s leading banks in the
private sector contributing significantly to the country’s economy. The authorized capital of
the bank today is 15000.00 million. It’s paid up capital and reserve reached Tk. 9169.16
million as on December 31, 2014. The bank had 1780 staffs on 31, December 2014.
The southeast bank limited was established by leading business personalities and eminent
industrialists of the country with stakes in various segments of the national economy. They
established the bank with a vision to bring efficient and professional banking services to the
people and business community of Bangladesh to help the national economy to grow. The
incumbent chairman of the bank is Mr. Alamgir Kabir, FCA, a profession chartered
accountant. Southeast Bank Limited has become a synonym of quality banking services and
products. Is has a diverse array of productions and services tailored carefully to cater to the
needs of the all segments of the customers. SEBL operational strategies are structured to
address the special and often complex needs to the customer

12. 12
3.2 Corporate profile of Southeast Bank Limited
Name of the Company : Southeast Bank Limited
Legal Status : Public Limited Company
Date of Incorporation : March 12, 1995
Registered Office : Eunoos Trade Centre
52-53, Dilkusha C/A (Level 2,3 & 16), Dhaka-1000
Chairman : Alamgir Kabir, FCA
Vice Chairman : Ragib Ali
Managing Director : Shahid Hossain
Company Secretary : Muhammad Shahjahan
Line of Business : Banking (both Conventional and Islamic Banking)
Authorized Capital : BDT 15,000 million
Paid Up Capital : BDT 9,169.50 million
Date of Opening of First Branch : May 25, 1995
Year of Initial Public Officer : 1999
Stock Exchange Listing : April 10, 2000 (DSE) and April 24, 2000 (CSE)
Company Auditors : Howladar Yunus & Co. and Syful Shamsul Alam
&Co.
Tax Consultant : Akhter Zamil & Co.
Legal Advisors : The Legal Edge
Credit Rating : Credit Rating Information and Services
Limited(CRISL)
Validity of the Credit Rating : Up to June 22, 2015
No. of Foreign Correspondents : 791
Phone : 9571115 (Hunting)
Fax : 9550086, 9550093 & 9563102
SWIFT : SEBDBDDHXXX
E-mail : info@southeastbank.com.bd
Website : http://www.southeastbank.com.bd
Name of the Bank’s Subsidiary Companies: Southeast Bank Capital Services Limited
Southeast Financial Services (UK) Limited
Southeast Financial Services (Australia)Limited
Southeast Exchange Company (South Africa)
Limited

13. 13
3.3 Vision of SEBL
To stand out as a pioneer banking institution in Bangladesh and contribute significantly to
the national economy
3.4 Mission of SEBL
 High quality financial services with the help of the latest technology.
 Fast and accurate customer service.
 Balanced growth strategy.
 High standard business ethics.
 Steady return on shareholders' equity.
 Innovative banking at a competitive price.
 Attract and retain quality human resource.
 Firm commitment to the society and the growth of national economy.
3.5 Core Values of SEBL
 Integrity Fairness Harmony Courtesy Commitment Insight and Spirit
 Enthusiasm for Work
 Business Ethics
3.6 Core Strength of SEBL
 Transparent and swift decision making
 Professional team of performers
 Satisfied clients internal control experienced risk administration
 Diversification

14. 14
3.7 Commitments to Clients
Southeast Bank Limited is a customer friendly banking institution thriving fast in both
earning and ability to stand out as a leading banking institution in Bangladesh. The Bank
delivers unparalleled financial services with the touch of our heart to Retail, Small and
Medium Scale Enterprises (SMEs), Corporate, Institutional, Governmental and individual
clients through the outlets of branches across the Country. Bank's business initiatives center
on the emerging needs of the clients. Bank's commitments to the clients are the following:
 Provide service with high degree of professionalism and use of most modern banking
technology.
 Create life-long relationship based on mutual trust and respect. Respond to customer
needs with speed and accuracy. Share their values and beliefs. Grow as the Bank's
customers grow.
 Offer first-rated solutions of clients' banking problems and issues. Provide products and
services at competitive pricing. Ensure safety and security of customer's valuables in
trust.
3.8 Organizational Development of SEBL
General objective of organizational development is to change all parts of the organization in
order to make humanly responsive, more effective, and more capable of self-renewal. The
organizational development process does not preclude the use of conventional training
method, which is useful for some purposes, the management of SEBL also concerned about
the training for its development, and they believe that if the employees will be trained
enough they would contribute more for the development of the banking business, that is
why, they send some employees took training from different institutions such as, Bangladesh
Institute of Bank Management.

15. 15
3.9 Organizational Structure of SEBL
The development of an organization depends on the management style of their
organizations. Management of the SEBL is controlling all the resources of the organization.
To achieve the ultimate objective of making SEBL the finest bank of the country, the
workforce is futuristic in outlook, professional in attitude and honest in reputation.
The Chairman is the head of the Board of Directors. There is one Managing Director who is
also the President mainly controls and supervises the major divisions of the bank. One
Deputy Managing Director reports to MD & Four Senior Executive Vice Presidents
(SEVP‟s) and one Executive Vice President (EVP) Of ICCD Dept. report to the Deputy
Managing Director. Senior Executive Vice Presidents control the credit. Senior Executive
Vice President controls the human resource and marketing divisions.
3.10 General Banking Function’s of the Branches of SEBL
The general banking procedures are conducted under some sections. The functions of these
sections are discussed briefly in the following:
Account Opening Section: The main task of this section is to opening different accounts,
such as, different savings account, joint accounts, clubs, societies etc. Opening of different
types of current accounts,-Individual, Firms, Partnership Firms, proprietorship firms, private
& public limited companies, executors, trustee, administrators, issuance of cheque books,
maintenance of A/C opening register, preparation of different bill statements and clearing
cheques received for collection.
Cash Section: Opening of cash, maintenance of receive & payment register, cash remittance
procedure between link & feeding branch, closing of cash, evening cash etc. Bangladesh
banks instruction thereof payment of defective notes, forged notes, vault limit, selling-
buying of prize bond & record keeping.
Dispatch section: Inward & out ward mails, recording in registers, maintenance of postage
accounts, Telegram, courier, register etc. Advance charges, refund & passing of entries at
month end. Acknowledgement of duplicate, ordinary post, registered post, hand delivery by
special messenger, use of proper envelope, required postal stamp, Test Key confidentiality
for telegraphic communication etc.
Fixed deposit section: Opening of FDR accounts for joint, single. Interest provision,
payment on maturity, premature encashment, handling of deceases accounts, issuance of

16. 16
duplicate FDR. Indemnity-custody of indemnity bond-
FDR block, specimen card, maintenance of FD registers, renewal of FDR, balancing &
closing of FDR accounts.
Remittance & Bills section: Issue & payment of pay order (PO), Demand Draft (DD),
Telegraphic Transfer (TT), issuance of duplicate DD and PO, issuance of IBDA & IBCA for
online banking.
Accounts Section: Preparation of daily & weekly statement of affairs, extract, transfer
scrolling & supplementary, voucher preparation, monthly salary preparation, SBS 1,2,3
preparation, ATM card maintenance, condensed statement etc. related to IT department.
IT Section: Daily voucher posting and IT statement printing.
Clearing Section: Outward & Inward cheques handling, keeping register, and issuance of
IBCA to other branches.
3.11 Types of Deposit
The Bank offers the following types of accounts to its various types of customers:
a) Current Deposit (CD) Account.
b) Savings Bank (SB) Account.
c) Short Term Deposit (STD) Account.
d) Fixed Deposits Receipt (FDR) Account.
e) Special Purpose Deposit (Savings) Account
1. Monthly Savings Scheme (MSS)
2. Monthly Income Scheme (MIS)
3. Double Benefit Scheme (DBS)
4. Deposit Pension Scheme (DPS)

17. 17
Chapter-4
Foreign Remittance Management of
Southeast Bank Limited
4.1 Remittance performance and process of SEBL
Our 10 million expatriates are a source of pride for Bangladesh. They represent
us abroad by building our image. They also spread the richness of our cultures across the
globe. In that sense, they are the ambassadors of goodwill for Bangladesh. The foreign
exchange they send home is the second largest source of much needed foreign exchange for
our economic development. In fact, if we adjust import costs against export
earnings of the garments sector which brings highest amount of foreign exchange to
the national economy, remittance will figure as the single largest source of foreign exchange
for Bangladesh. Southeast Bank Limited is continuously striving to build its
remittance business by rendering quality services through a network of reputed banks
and exchange houses around the globe along with an extensive network in the country to
deliver money to the beneficiaries in the safest form and quickest possible time.
Features of SEBL Remittance Services:
 No service charge from beneficiaries in Bangladesh
 Instant Cash Withdrawal facility from any branches of Southeast Bank
 Confidentiality of transactions
 Instant credit to beneficiaries accounts with Southeast Bank;
 Same day cash withdrawal facility from the branches of One Bank, Mutual Trust Bank,
Jamuna Bank, Al-Arafah Islami Bank, BRAC Bank, Bank Asia, Shahjalal Islami Bank,
Mercantile Bank and First Security Islami Bank

18. 18
 Same day cash payment facility from 600 outlets of
reputed NGOs (RDRS, Society for Social Services - SSS and Jagorani Chakra
Foundation - JCF)
 Direct communication with both Sender and Receiver for solving queries relating to cash
payment/account deposit (if any)
 Disbursement of foreign remittance through ATM booths using My Remit Card
 Provide Anti-Money Laundering (AML) and Combating Terrorist Financing (CTF)
advice.
4.2 Global Partners
 Western Union Money Transfer Services
 Continental Exchange Solution (Ria Financial Services)
 Money Gram International
 Xpress Money Services
 Trans-Fast Remittance LLC
 UK based Money Transfer Companies:
 UAE based Money Transfer Companies:
l Ahalia Money Exchange Bureau

19. 19
 Sultanate of Oman based Money Transfer Companies:
 USA based Money Transfer Companies:
 K.S.A (Kingdom of Saudi Arabia) based Banking Partners:
-Bilad
 Italy based Money Transfer Company:

20. 20
4.3 Western Union Money Transfer
(WUMT)
Western Union a fast, reliable and convenient way to send a money transfer
Western Union Financial Services Inc. U.S.A. is the number one and reliable money transfer
company in the world. This modern Electronic Technology based money transfer company
has earned worldwide reputation in transferring money from one country to another country
within the shortest possible time.
Facilities of Western Union
i) Largest Network:Through Western Union Money Transfer Service, Bangladeshi
Wage Earners can send money quickly from over 280,000 Western Union Agent
Locations in over 200 countries and territories world wide
ii) Reliability:Our customers have benefited from our electronic money transfer for over
150 years. Each transfer can be tracked electronically to make sure that you receive
the money your loved one has sent.
iii) Speed:When your loved one sends you money, within minutes you can
receive it in Bangladesh.
iv)Convenience:
 Bank account is not required.
 Just go to a SEBL Bank Limited branch anywhere in Bangladesh offering Western
Union Money Transfer. Then simply fill a form and collect money.
 SEBL Bank Limited has 52 such branches all over Bangladesh and Western Union
has over 280,000 agent locations across 200 countries and territories.

21. 21
3 Easy Steps to Receive Money:
 Deposit the money at any Western Union Agent location and get a receipt with
MTCN.
 Sender informs about the amount sent (sender name, amount, sending country,
receiver name and MTCN).
 A valid identity card needs to receive money from the bank. There also fill a simple
form and receive the money.
4.4.Ria Financial Service
Ria financial service is one of the 2nd largest online money transfer express which is mainly
founded in Europe. It is developing its brand image day by day which is already on its way
to cross the margin of western Union money transfer. Southeast bank is one of their licensed
partner, most of the people those who stay in European country like France, UK, Sweden,
Portugal, Ireland, etc send their money through Ria service. Beneficiary just needs to give a
pin number to withdraw their cash. Southeast bang get an amount of 2 paisa per transaction
Process of withdrawing the money
 Sender will send money and give an pin number through mail or SMS
 Beneficiary will go to the recognized bank and fill a form with related information
and provide the pin number
 Banker will excess the pin number and verify the pin with legal information provided
by the beneficiary
 Finally beneficiary withdraws the money

22. 22
4.5. National Exchange Company (NEC)
NEC transfer remittance money from Italy. Customer can withdraw their remittance money
by a PIN number from the bank. Besides NEC provide 9-digit PIN number and also the
customer need a valid ID card or a photocopy of check book. Then the bank officials match
the PIN number and send the customer to the cash counter. The money receiving process is
same as SFSL.
4.6. Key Obligations for Foreign Remittance Services
 Identity and verify the customers
 Obtain information on customers requesting electronic fund transfers
 Monitor customers transactions
 Maintain proper customers records
 Report transactions to the Financial Intelligence Unit
 Implement appropriate internal controls and systems to protect bank from being used
for money laundering and terrorist financing purposes
4.7. Customer Identification and Verification
 The bank must undertake specific procedures to identify customers with whom the
bank has an on-going business relationship.
 Identification and Verification of a Customer's Signature.
 Identification and Verification of Occasional Transactions.
 Obtain complete information on customers requesting electronic fund transfers
 When dealing with electronic fund transfers, the bank must obtain accurate and
complete information about the customer requesting to transfer funds or the
originator of the transfer.

23. 23
4.8. Five Years Performance of Southeast Bank limited at a Glance
 Despite rapid economic environment both locally and globally in the first half of the year
– 2015, Southeast Bank achieved an operating profit of BDT.8, 289.76 million before
necessary provision for loans and Income Tax during the period.
Particulars 2015 2014 2013 2012 2011
Authorized Capital 15,000.00 10,000.00 10,000.00 10,000.00 10,000.00
Paid up Capital 9,169.50 8,732.86 8,732.86 8,317.01 6,930.84
Reserve Fund / Others 18,292.59 13,074.71 10,864.68 10,683.05 10,265.96
Deposit 189,472.54 177,519.46 152,901.24 127,178.22 107,253.19
Advance 147,070.81 134,863.82 126,968.97 107,288.56 93,981.20
Investment 56,378.59 57,589.06 37,656.56 29,846.60 18,869.07
Import Business 155,691.00 131,644.82 111,537.50 99,509.01 103,726.70
Export Business 112,137.60 95,220.40 84,464.20 75,982.06 58,158.06
Guarantee Business 13,603.30 17,226.41 21,506.65 25,673.90 22,781.19
Remittance Business 48,740.50 39,299.10 41,455.40 49,544.10 28,082.25
Total Income 27,667.10 26,918.30 23,134.18 19,931.91 16,100.81
Total Expenditure 19,337.34 20,218.11 17,638.99 13,846.24 9,331.55
Operating Profit 8,289.76 6,700.20 5,495.19 6,085.66 6,769.26
Net Profit after Tax and
Provision
3,836.94 3,378.82 1,648.72 1,912.19 2,763.93
Fixed Assets 7,913.00 7,795.65 7,677.51 7,373.11 4,463.64
Total Assets 236,608.40 220,930.85 189,921.58 158,078.59 131,784.27

24. 24
 Inflow of Foreign Remittance over the Years
Fig: Changes in remittance inflow of Southeast Bank Limited over the last five years
Foreign Remittance is of paramount importance to the country. It is the second largest source of
foreign currency for the country. During 2015, SEBL handled foreign remittance of USD 629
million compared to USD 505 million in 2014, USD 544 million in 2013, USD 657.9 million in
2012 which was slightly better than 2014 and USD 402.42 million in 2011. To diversify their
services, they have taken initiative to open wage earners’ accounts through their foreign
subsidiaries and partners abroad.
SEBL have also introduced “My Remit Card” pre-generated name-less debit card for the
beneficiaries of the foreign remittance.
0
100
200
300
400
500
600
700
2011 2012 2013 2014 2015
USDinmillion
Inflow of Foreign Remittance Over the Years
Inflow of Foreign Remittance
Over the Years

25. 25
 Country wise Percentage of Remittance Inflow in 2015
4.10 Major Job Responsibilities
I did my three month internship program in Southeast Bank Ltd, Chowhatta branch. During
my internship program, I gained lots of experience about corporate environment. My
internship experience are given below- Internship Position, Duties & Responsibilities The
report has been prepared on the basis of experience gathered during the period of internship.
Within this time of period, I worked with two departments namely General Banking and
Foreign Exchange department.
Bank does not follow any guideline or any fixed responsibilities for internship student.
Mainly I have done many pending works of the account opening section and clearing
section. Accounts opening form fill up and endorsement. Besides that I have
done different types of tasks in different desks whenever they assigned me to do.
Account Opening Department: I worked with Southeast Bank Limited, Chowhatta Branch
where I worked firstly with the account opening department. Here I have learned the
procedure of opening an account and the documents that are needed for opening an accounts
& types of accounts allocated by Southeast Bank Limited.
31%
28%
18%
11%
2%
1%
9%
Country Wise Percentage of Remittance
Inflow 2015
USA
KSA
UAE
UK
OMAN
AUSTRALIA
OTHERS

26. 26
Secondly, I learned how to precede a pay order and what are the necessary
documents needed to do it. Thirdly, I learned how to open a Fixed Deposit Receipt (FDR).
This is the following activities which are done by me:
 To file different account forms in different files.
 To sequencing that forms in different files.
 To fill up Know Your Customer (KYC) form.
 To find out the irregularity of different accounts.
 To close accounts and file them up for record.
 Voucher listing (with debit ,credit )
 Pay-order finding by the date and issuing number
I also worked partially in clearing department. In clearing department, I helped
the clearing officer to file the cheques to keep record and learned how the clearing process
is operated.

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Chapter-5
Findings
 Southeast bank limited is good in operation of export and import trade handling and
financing as well as foreign remittance management and service.
 The bank is not getting any commission from foreign remittance business although it is
providing this service to the people to serve the society.
 Operation of foreign remittance service is done by only one employee or two, not all, so due
to absence of that employee, the customer has to switch to another bank. Lack of space in
foreign remittance section, which creates queue during rush hours in order to provide
smooth service.
 The officers are not expert in managing foreign remittance section and providing smooth
services to the customers.
 Network is not available most of the time, so in that time they cannot pay the money of
online transfer companies like Western Union, Ria financial services, Xpress Money,
Transfect etc.
 Lack of attention towards the remittance beneficiary during rush hour, there may be mistake
in issuing pay order so that customers cannot get money in their account on time.
 If the server fails to work even a day than it creates problem to come foreign remittance
from head office to branch, that creates an argument between employee and customer.
 Existing system is time consuming for both officers and customer.

28. 28
Chapter-6
Recommendation and Conclusion
6.1 Suggestion for better performance in Remittance Business
 SBL management tries to develop their customer service by offering attractive exchange
rate for the foreign remitter’s and also introducing online banking systems.
 The bank can desire more foreign remittance inflow if they will be able to reduce charges,
commission and fees related to remittance as well as by making arrangement to credit
account within twelve to twenty four hours.
 The bank should develop policies, procedures and controlling systems to implementing
strong effective Money Laundering Laws to block all money laundering activities.
 Security system should be improved for foreign direct investment and non-residents
investments.
 If there is any lack of the remitting process, that should be overcome immediately.
 Promotional activities should be conducted both in home and abroad.
 Online banking system should be introduced throughout the country to remit the fund
more quickly.
 Organize seminars to create more awareness at the technical level for public officials,
judicial and financial sector representatives.
 Making change in declaration form – C of US$ ten thousand instead of present US$ two
thousand to increase the interest of remitters as well as increasing the reserve of foreign
currency.
 Awareness should be created among the public so that they try to avoid informal channel
to remit fund.

29. 29
6.2 Conclusion
After a prolonged observation in my three months long internship at the Chowhatta Branch
of Southeast Bank Limited, I am very much pleased to prepare this internship report. In this
period, I have tried to acquire the skills of customer relation and also tried to adapt with
the corporate culture, which is very much different from the academic courses of BBA. In
this report, I have attempted to cover one of the key areas of banking namely
Foreign Remittance Process which falls under the Foreign Exchange Division. Foreign
Remittance Process in SEBL contributes a lot towards the economic development of the
country by the efficient distribution network of remittance, which is quite satisfying to the
customers. The banking service of the SEBL is being automated day by day and
SEBL is preferred by customers for its service oriented business policy.
I tried my best to contribute to the branch office despite my above stated
limitations. The friendly work atmosphere provided at this particular branch of SEBL has
inspired me to work even harder. I hope the skills that I have tried to gain by working at that
branch will further my career. I would like to acknowledge the continuous efforts
of my supervisor and the other officers of the bank at that said branch in allowing me
to obtain these skills despite their huge workloads. I would also like to appreciate my
advisors effort in providing me with invaluable advice and also for giving me such an
excellent opportunity to be introduced to corporate culture.
Lastly, I wish continuous success of this bank.

30. 30
References
 Ahmed, G. (2013, 2 14). Contribution of Non Resident Bangladeshis (NRB) /
Bangladeshi Expatriates . Retrieved 12 3, 2015, from Business
Investment.Blogspot:http://businessninvestment.blogspot.nl/2013/02/contribution-of-non-
resident.html
 Southeast bank limited annual report 2015,2014,2013,2012
 Access at http://www.southeastbank.com.bd/index.php/home/about_southeast_bank
 Access at http://www.assignmentpoint.com/business/internship-report-on-foreign-
exchange-service-of-southeast-bank-ltd.html
 Access at http://www.foreignremittance.com/what-is-foreign-remittance/
 Access at http://www.southeastbank.com.bd/index.php/home/foreign_remittance_services
 www.bangladesh-bank.org
 Previous internship reports
 Seraji, M. (2009). FOREIGN REMITTANCE OF BANGLADESH . Retrieved 12 3,
2015, from Wordpress: https://mamunseraji.wordpress.com/2010/05/12/foreign-
remittance-of-bangladesh/
 Southeast Bank Limited. (2014). Annual Report 2014 . Retrieved 12 3, 2015, from
www.southeastbank.com.bd:https://www.southeastbank.com.bd/upload/annual_report/An
nual_Report_2014.pdf
 St. Louis Federal Reseve Bank. (2015, 10 2). Remittance Inflows to GDP for Bangladesh
.Retrieved 12 3, 2015, from Economic Research Federal Reserve Bank of St.
Louis:https://research.stlouisfed.org/fred2/series/DDOI11BDA156NWDB