A bank is an institution, which deals in money. It means that a bank receives money in the form of deposits from the public and lends money for the development of trade and commerce.
It is very difficult to define the term "Bank" or "Banker" precisely. Even the best authorities on banking have failed to provide a satisfactory definition of the term. This is because a modern bank performs numerous activities.
Dr. H.L. Hart defines a banker as "One who, in the ordinary course of his business, receives money which he repays by honoring the cheques of persons from whom or on whose account he receives it".
The Banking Companies Act of 1949, Section 5(b) defines banking as " accepting for the purpose of lending or investment of deposits from the public, repayable on drafts, orders or otherwise", for it includes investment of money deposited which is withdraw able by cheque, this indicates that banking is different from private money lending or indigenous banking.
Section 6 of the Banking Companies Act of 1949 specifies a good number of business functions such as discounting, buying and selling, collecting and dealing business instruments like bill of exchange, hundies, promissory notes, drafts, bills of lading, warrans, debentures, and securities etc. Banks can also undertake buying and selling of foreign exchange including notes. The banks can
Also acquire, hold, issue, underwrite shares, debentures of business companies etc. The bank is prohibited in carrying out trading activities.
Thus, a banking institution accepts deposits and creates credit with a view to lend and invest.
[...] Pro-forma invoice 10.IMP form (foreign exchange regulation act 1947-04 copies make a set ) After L/C opening 1.L/C copy (06 Copies) 02 copies to advising bank-01 for advising bank & other for exporter 02 copies to importer -01 copy as office copy & other for customs clearance 02 copies for opening bank-01copy as office copy & other for CCI & E 2.L/C forwarding letter-01copy 3.Reimbursement Authorization Voucher: Contra voucher: DR: Customers liability L/C BTB Contra CR: Bankers Liability L/C BTB LODGEMENT Contra voucher: DR: Bankers Liability L/C BTB Contra CR: Customers Liability L/C BTB IFDBC (Inward Foreign Documentary Bill For Collection) Creation Contra voucher: DR: Foreign Bills Lodged a/c Contra CR: Foreign Bills for Collection BTB C payment Contra Voucher: Contra DR: Foreign Bills for Collection CR: Foreign Bills Lodged a/c Debit Voucher (double currency Voucher) DR: Exporter's F.C a/c Credit Voucher (double currency Voucher) CR: NBL General A/C-HO (It is supported by IBETCA) EDF (Export Development Fund) Export development fund is special credit window created by Bangladesh bank to provide short-term finance in foreign currency for importation of inputs by opening L/C at sight by the export oriented industrial unit of non traditional items. [...]
[...] The former Deputy Governor Office of State Bank of Pakistan” which was located in Dhaka city became as a central bank of Bangladesh by the order to realization of socialistic economy on 26th March in 1972 all branches of banks and financial institutions in Bangladesh made nationalized. By the amalgamation of two head offices and ten branches offices, out of those six separate and impartial entities were made nationalized. Recently, the new angles of vision / viewpoint have introduced in bank and insurance business. [...]
[...] A Representative Office was established in Yangon, Myanamar in October by our Bank and obtained permission from the Government of Bangladesh to handle border trade with Myanmar. Opportunities are being explored for further business avenues there. Now NBL is on line to establish trade and communication with the Prime International banking companies of the world. As a result NBL will be able to build a strong root in international banking horizon. Bank has been drawing arrangement with well conversant money transfer service agency "Western Union". [...]
[...] The other joint stack banks to be established at that time were the Bank of Bengal (established in 1806), the Bank of Bombay (established in 1840) and the Bank of Madras (established in 1843). These banks were started with the financial participation of the Government. So, they were called the Presidency Banks. Besides their normal commercial banking functions, they were also given the right of note issue in their respective regions. They continued till 1921, when they were amalgamated and converted into the Imperial Bank of India. [...]
[...] All such banks operating in Bangladesh with different paid-up capital and reserves having a minimum of an aggregate value of Tk lacs and conducting their affairs so that satisfaction of the Bangladesh Bank have been declared as scheduled in term of section 37(2) of Bangladesh Bank Order 1972. Now in terms of Sec of Bank Company Act the minimum aggregate value is Tk Cores. The names of the scheduled banks whose operations are recorded in the volume are as under: Nationalized Commercial Banks Agrani Bank Janata Bank Rupali Bank Limited Sonali Bank Specialized Bank : Bangladesh Krishi Bank Bangladesh Shilpa Bank Rajshai Krishi Unnayan Bank Bank of Small Industries and Commerce Bangladesh Ltd. [...]
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