Introduction
1.1.
Introduction of the Report
Banking
has a long and rich history. It started as a result of people’s need. And with
ages it has been playing an important role in fulfilling the dire needs of
businessmen and others. As the size and complexities of business is increasing
day by day banking sector is also providing various innovative services with
basic functions to increase size but to reduce the complexities.
Modern
banking is a result of evolution driven by changing economic activities and
life styles. Entering in to a new millennium, banking needs have become more
diverse and exotic than ever before. It is known now that commercial bank is a
profit maximizing institution. Hence it should provide loans to those sectors
in which its return is higher. But the nationalized commercial banks are
conducting banking business with different purposes. The main purpose is not
just to make profit but also to maximize the social benefit. Commercial banks
provide a variety of other services to their customers as for example
remittance facilities, credit information about customers, financial advice,
collection of debts and dues etc. Banks also provide a number of trust services
to their customers. These services may either corporate trust services, which
arise in connection with the issue of bonds; personal trust services under
which they manage property on behave of their clients or corporate pension
funds that provide retirement benefit for their employees.
After the completion of four-years and twelve semesters academic BBA program I, Md. Toslim Hossain, student of BRAC University, Bangladesh was placed in Janata Bank Bangladesh Limited for the Internship Program. As a requirement for the completion of the program I need to submit a report, which includes “General Banking Activities of Janata
Bank Ltd.”
Beginning of Banking in Bangladesh
After
independence the Government of Peoples Republic of Bangladesh was formally to
cover the charge of the administration of the territory now constitute
Bangladesh. In an attempt to rehabilitate the war-devastated banking of
Bangladesh, the government promulgated a law called Bangladesh Bank (temporary)
order, 1971 (Acting President’s Order No.2 of 1971). By this order, the State
Bank of Pakistan was declared to be deemed as offices, branches and assets of
Bangladesh Bank. On that date there existed 14 scheduled banks with about 3042
branches all over the country.
On the 16th December, 1971, there existed
the following 12 banks in Bangladesh, namely:-
- National Bank of Pakistan
- Bank of Bahwalpur Ltd
- Premier Bank Ltd.
4. Habib Bank Ltd.
5. Commerce Bank Ltd.
6. United Bank Ltd.
7. Union Bank Ltd.
8. Muslim Commercial Bank Ltd.
9. Standard Bank Ltd.
10. Australasia Bank Ltd.
11. Eastern Mercantile Bank Ltd.
12. Eastern Banking Corporation Ltd.
Nationalization of Banks in Bangladesh
Immediately
after the liberation war in 1971, Government of Bangladesh consolidated banks
authority and decided to adopt socialist pattern of society as its goal. Hence
in order to implement the above mentioned state policy; the Government of
Bangladesh decides to nationalize all the banks of the country accordingly on
the 26th March, 1972,
Bangladesh Banks (Nationalization) Order, 1972(President order No. 26 of 1972)
was promulgated.
The
undertakings of existing banks specified in the 1st
column of the table below stands transferred to and vested in, the new banks
mentioned in the 2nd column of the
said table:
Profile of JBL
Janata
Bank, one of the largest commercial bank in the country, was established under
Bangladesh Bank (Nationalization) Order 1972 (Presidency Order of 1972). By
taking over branches of former United Bank Limited and Union Bank Limited, were
two private banks performing class banking over the country. After the birth of
Bangladesh on 16th December 1971, newly formed Janata Bank for mass banking got
special facilities from the government to work as nationalized commercial bank
all over the country. With the increase of responsibility and by virtue of
performance within a few years, it becomes the largest commercial bank of the
country with 906 branches including 4 overseas branches at United Arab
Emirates. It is linked with 1239 foreign correspondents all over the world.
Total employees of JBL are more than 14 thousands (14,244). Its head office
located at Janata Bhaban at Motijheel C/A, the heart of the capital city,
Dhaka.
Corporatization
In
15 November, 2007 Janata Bank got registered with the Joint Stock of Registrars
and restructured it as a public limited company with the name Janata Bank
Limited.
Corporate
Information
Name
of the Company :
Janata Bank Limited
CEO
& Managing Director : Md. Abdus
Salam
Legal
Status :
Public Limited Company
Registered
Office :
Janata bhaban 110, Motijheel Commercial
Area, Dhaka, Bangladesh
Deposit
(31.12.3013) :
Tk. 4, 73,989 million
Authorized
Capital (31.12.2014) : Tk. 30,000
million
Paid
up Capital (31.12.2014) : Tk. 19,140
million
Operating
Profit (31.12.2014) : Tk.
10,683 million
Reserve :
Tk.8202.00 million
Total
asset : Tk. 282423.00
million (as on 30th Nov 2009)
Number
of Branches :
906 br. including 4 overseas branches at U.A.E
Subsidiary
Companies : 1.
Janata Capital and Investment Company Ltd.
2. Janata Exchange Company SRL,
Italy
Phone
Number : 9551337,
9565384, 9567675, 9560000, 9560027-30
SWIFT :
JANB BD DH
Website :
www.janatabank-bd.com
Recently The Bank has been recognized internationally
and domestically for its good performance. Few of these recognitions are given
below:
Awards
and Achievements
The
awarding ceremony was held on 4th December 2014 at hotel Mayfair, Bhubaneswar,
India. Dr. Prodip Kumar Panigrahi, minister of State, Higher Education, Science
and Technology Ministry of Udisha, India, handing over South Asian Federation
of Accountants (SAFA) award to Md. Mosaddake-Ul-Alam, company secretary of
Janata Bank Ltd.
14th ICAB
National Award for Best Presented Annual Reports 2013
The
Institute of Chartered Accountants of Bangladesh (ICAB) awarded Janata Bank
Limited with the ICAB National Awards for best presented annual reports in 2013
and in the category of public-sector bank Janata Bank Limited secured first
position. In the category of corporate governance disclosure, Janata Bank
Limited was awarded second position by the same institution.
ICMAB Best
Corporate Award
This
Bank secured the first position among the state owned Commercial Banks in
Bangladesh. The Institute of Cost and Management Accountants, Bangladesh
(ICMAB) recognized the achievements of Janata Bank Limited with the following
awards:
ICMAB Best Corporate Award 2014
ICMAB Best Corporate Award 2012
ICMAB Best Corporate Award 2011
Management
Janata
Bank is the largest commercial bank of the country. It has 906 branches
throughout the country and abroad to serve the nation. There are 4 overseas
branches at U.A.E. The Head Office of the bank is located at Janata bhaban 110
Motijheel C/A, Dhaka. It has 15 GM, 77 DGM 192 AGM, 576 First AGM, 1037 SEO,
3085 EO and 460 AEO. Principal Offices are headed by First AGM and each
department is headed by AGM.
Board
of Directors
Board of Directors, constituted by 13 (Thirteen) members, has
authority to organize, operate and manage its affairs on commercial
consideration within the Board Policy of government. The Directors are
representatives from both public and private sectors. Members of the Board
including M.D are government appointed out of that at least three have the
experience in the field of Finance, Banking, Trade, Commerce, Industry and
Agriculture. The managing director is the chief Executive of Bank. The Board of
Directors is composed of 13 (Thirteen) members headed by a Chairman. The name
and position of directors are as under.
Chairman
of the Board of Directors
Shaikh Md. Wahid-uz-Zaman
Members
of the Board of Directors
Dr. Jamaluddin Ahmed, FCA
Mr. Md. Emdadul Hoque
Mr. Nagibul Islam Dipu
Dr. R M Debnath
Syed Bazlul Karim, B.P.M.
Prof. Mohammad Moinuddin
Mr. Md. Abu Naser
Mrs. Sangita Ahmed
Prof. Dr. Nitai Chandra Nag
Mr. A.K.M Kamrul Islam, FCA
Mr. Md. Mahabubur Rahman Hiron
Mr. Md. Abdus Salam, CEO & Managing Director
Vision
To
become the effective largest commercial bank in Bangladesh to support
socio-economic development of the country and to be a leading bank in South
Asia.
Mission
Janata
Bank Limited will be an effective commercial bank by maintaining a stable
growth strategy, delivering high quality financial products, providing
excellent customer service through an experienced management team and ensuring
good corporate governance in every step of banking network.
Objectives
The objectives
for which the bank is established as follows:
- To carry on, transact, undertake and conduct the business of banking in all branches.
- Full implementation and utilization of the Bank’s excellence program which aims to provide services to customers.
- To carry on business as financiers, promoters, capitalists, financial and monitory agents, concessionaires and brokers, dealing in exchange, securities and all kinds of mercantile banking etc.
Products and Services offered by JBL
Personalized Service
Janata
Bank Limited extends all the major personal banking facilities and services to
its customers with its skilled manpower and largest network of around 906
branches covering all the urban and remote rural areas of Bangladesh.
Janata
Bank Ltd. provides Local and Foreign Remittance in the quickest possible time.
Foreign Remittance is available in both T.C and taka draft.
1. Transfer of fund from one branch to
another by
-
|
Demand Draft
|
saving A/C
|
-
|
Mail Transfer
|
FDR A/C
|
-
|
Telegraphic Transfer
|
Trade
Finance
|
2.
Transfer
of fund on Standing Instruction Agreement
3.
Collection
of cheques through clearing house.
4.
Issuance
of payment order.
5.
Locker
facilities for safe keeping of valuable.
6.
Corporate
client services with computerized systems at selective branches.
Deposit schemes section
Bank
is the largest organization of mobilizing surplus domestic savings. For poverty
alleviation, we need self-employment, for self-employment we need investment
and for investment we need savings. In the other words, savings help capital
formations and the capital formations help investments in the country. The
investment in its turn helps industrialization leading towards creation of
wealth of the country. And the wealth finally takes the country on road to
progress and prosperity. As such, savings is considered the very basis of
prosperity of the country. The more the growth of savings, the more will be the
prosperity of the nation.
0 comments:
Post a Comment