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Job opportunity at BRAC Bank Limited as Manager, Corporate Documentation and Custodian.

BRAC Bank Limited is one of the country’s leading third-generation banks operated with reputation since 2001. The bank now operates 187 branch offices and 705 agent banking outlets across the country. For strengthening the BRAC Bank family, BRAC Bank Limited is hiring a number of dynamic, ambitious, intelligent, goal-oriented, and enthusiastic individuals to work in its Operations Division as…

Important forms for IBB

The Institute of Bankers, Bangladesh (IBB) conducts the Banking Diploma Examination, JAIBB (Junior Associate of the Institute of Bankers, Bangladesh) and DAIBB (Diplomaed Associate of the Institute of Bankers, Bangladesh) usually held twice a year. Read Also: Prizes for banking diploma in Bangladesh. As for JAIBB Examination, it is designed to help bankers gain basic and fundamental knowledge…

Prizes for banking diploma in Bangladesh.

The Institute of Bankers, Bangladesh (IBB) arranges Banking Diploma exam twice a year which has an important role in the development of a banker’s career. It adds an extra point for the promotion criteria who have passed Banking Diploma. So, every banker has an extra feel for sitting for Banking Diploma exams and passing them successfully. The astonishing factor is that, though bankers sit for…

When we apply for a loan to a bank or a financial institution and submit all required documents for the proposed loan we came to know that bank will forward our proposal after getting a clean CIB report. Though we have a bit of knowledge about loan procedure we merely know about what is CIB and why a CIB report is needed for decision making in providing loans for the bank and other financial institutions. In developed countries, banks or financial institutions use a variety of techniques to justify the eligibility of getting a loan of the applicant. But in our country, CIB report is the primary and only official procedure for verifying the creditworthiness of the applicant. Here, I’m going to discuss the information covered in a CIB report and the importance of CIB before approving a loan to a borrower.

Cardholders have to pay excess charges when they take ATM facilities from other bank ATM except card issuing bank and also for raising service charge of Point of Sale (POS), Internet Banking Fund Transfer (IBFT), Bangla QR, Government Challan transactions within the country. Bangladesh bank issued a circular in this regard on 18 October 2021 which is effective from 19 October 2021 and it remains effective until further notice.

The banking sector of Bangladesh is continuously growing with new banks coming in from time to time. Bearing in mind of the year of establishment, the banking sector of Bangladesh is categorized into Four generations.

Clearing is the process of inter bank fund collection by using Bank instruments through some systematic procedures with the involvement of the Central Bank(Bangladesh Bank).

Cheque is the primary instrument used by banks for the settlement of payments. But sometimes due to some mistakes on cheques bank officials have to reject cheques. This is called in banking term “CHEQUE DISHONOUR”. Usually errors on cheques like wrong date, mistakes in writing amount, signature mismatch, cheque placed without having sufficient balance, absence of corporate seal in case of institution cheque etc. These are regular causes for cheque dishonour but countersign by the account holder may validate the cheque for payment.

To participate in the tender through online-based e-GP, Contractor/suppliers to get temporary financial accommodation from banks in the form of Overdraft (Earnest Money Financing) Performance Bond, Advance Payment Guarantee and Loan etc. Usually, to increase the probability of getting a work order or tender the contractors are drops more than one bid. In that case, the contractors require Payment Order and Bank Drafts as Earnest Money.