Banks remit funds from one place to another through the network of their branches. The main instrument for remittance of funds are bank drafts, mail transfer, telegraphic transfer and traveller's cheques. Here, we will focus are attention on features and operational aspects of bank draft.
Definition of bank draft. :
A bank draft is an unconditional order issued by one branch of a bank on its another branch to pay a certain sum of money to the named person Read more [...]
Al-Arafah Islami Bank Limited
Name of the Bank : Al-Arafah Islami Bank Limited
Head Office: 36, Dilkusha(6th -9th Floor) C/A Dhaka-1000, Bangladesh
Phone: (8802) 9567885, 9567819, 9569353, 9568007, 95660198, 7123255-7
Fax: + 880-2-9569351
Al-Arafah Islami Bank Limited is known as AIBL
AIBL SWIFT Code: ALARBDDH
Web Address: http://www.al-arafahbank.com
Authorized Capital in BDT* (mn) 15,000.0
Paid-up Read more [...]
Clearing is the process of collection of proceeds of instruments of different banks by a collecting bank through some systematic procedures with the involvement of Central Bank.
Types of instruments:
Cheques (CD, SB, Loan)
High Value (return house)
Regular (return house)
Inward (at branch):
Receive all instruments Read more [...]
Bai-salam defined as a contract or agreement with a buyer and seller in which the seller is sold in advance the certain commodity (ies)/ products(s) permissible under Shairah and law of land to the buyer as per terms and conditions of agreement. And the merchandise/ commodity (ies)/ products(s) is/are delivered as per specification, size, quality at a future time in a specific place.
We can say in other words, Bai-salam is an advance buying and selling procedure which is allowed by the Read more [...]
Insurance Risk Covered Clauses
(1) Fire or Explosion.
(2) Stranding, Grounding, Sinking or Capsizing.
(3) Overturning or Derailment of Land Conveyance.
(4) Discharge of Cargo at a port distress.
(5) Collision or Contract with any external object other than water.
(6) General Advantage.
(7) Read more [...]
CHECK LIST FOR INVESTMENT/ADVANCES
Check List for Investment/Advances are given below:
01. Bank’s prescribed Loan Application duly filled in.
02. Client’s application in their letterhead.
03. Certificate of Commencement of Business (in case of Public Ltd. Co.).
04. Certificate of incorporation (in case of Private Ltd. Co.).
05. Certified copy of Memorandum & Articles of Association (in case of Public & Private Ltd. Co.).
06. Certified copy of Form xii of Joint Stock Company.
07. Read more [...]
bKash is a subsidiary of BRAC Bank Limited. It started their journey as a joint venture company between BRAC Bank Limited, Bangladesh as well as Money in Motion LLC of USA, and in April 2013 International Finance Corporation (IFC). It is a member of the World Bank Group, bKash objectives is to ensure access to a broader range of financial services for the people of Bangladesh. bkash serves the low income masses of the country to achieve broader financial inclusion by providing services that Read more [...]