Chapter- One

Introduction

1.0 Introduction
For an expanding economy, a developed and efficient banking system is indispensable. Among others, it helps transfer of financial resources from surplus units to deficit units and, hence, helps accelerate the pace of development by securing uninterrupted supply of financial resources to people engaged in numerous economic activities. The tremendous development that the world economy has experienced in the last few decades was contrib-uted by several factors among which, growing institutional supply of loan able funds must have played the pivotal role. The role of banking is comparable to what an artery system does in the human body. Both commercial banks and other development financial institutions provide short-, medium-, and long-term credits to businesspersons and entrepreneurs who usually take the lead in ventures of economic development. Islamic banking has been defined in a number of ways. The definition of Islamic bank, as approved by the General Secretariat of the OIC, is stated in the following manner. "An Islamic bank is a financial institution whose status, rules and procedures expressly state its commitment to the principle of Islamic Shariah and to the banning of the receipt and payment of interest on any of its operations"(Ali & Sarkar 1995, pp.20-25). Shawki Ismail Shehta viewing the concept from the perspective of an Islamic economy and the prospective role to be played by an Islamic bank therein opines: "It is, therefore, natural and, indeed, imperative for an Islamic bank to incorporate in its functions and practices commercial investment and social activities, as an institution designed to promote the civilized mission of an Islamic economy" (Ibid). Ziauddin Ahmed says, "Islamic banking is essentially a normative concept and could be defined as conduct of banking in consonance with the ethos of the value system of Islam" (Ibid). Now a day, a modern banker must have to perform a number of ancillary services, besides performing the two essential functions of accepting deposits and investing its funds. Remittance of funds can be considered as one of the most important ancillary service provided by a Bank. With a network of the branches spread over the entire country banks are eminently suitable institutions for the remittance of funds from one place to another. Bank remittance is safe, swift, inexpensive, and simple. Bank takes the risk of theft or loss of customers money in exchange of a very little commission. Again, 2

the reserve of foreign remittance plays a great role in national economy. With various types of accounts maintaining in international branches and coordinating international banks these foreign currencies are being carried sending by non-resident Bangladeshis.

1.1 Background of the Study

With the rapid growing competition among nationalized, foreign and private commercial banks as to how the banks operates its banking operation and how customer service can be made more attractive, the expectation of the customers has immensely increased. Reciprocating the sentiment, commercial and private banks are trying to elevate their traditional banking service to a better standard, to meet the challenging needs and demands. Side by side, these banks have now concentrated their attention towards diversification of their products for better performances and existence. For the above circumstances, it has become necessary for IBL, one of the leading commercial banks, to focus its attention towards the improvement of the customer service. That is why it is quite justified to make an in-depth study about its operation and evaluate the service provided by this bank and scope for its improvement. The study may help formulating policy regarding the ideas relating to the feelings of the customers and bankers. Furthermore, IBBL executives who are actually executing the policies undertaken by the top management will have a chance to communicate their feelings and will have the feedback about their dealing from the customers.

1.2 Origin of the Report

Bachelor of Business Administration (BBA) is one of the most commendable professional degrees. The main objective of BBA degree is to provide the students with the practical aspects of academic learning to the organizational setting. For the attainment of that purpose curriculum and syllabus is designed in a manner so that students are facilitated to have practical or empirical working experience to some extent. Inclusion of internship is a proof of one of the attempts. WE am a student of IUBAT. In BBA, our 3

major subject is Marketing. For that consequence, WE choose the banking sector for performing our internship and the organization is the IBBL. Our research topic is Customer Satisfaction in Remittance division of IBBL, Uttara branch.

1.3 Objectives
The objective of the study is to measure the consumer satisfaction in Remittance division of IBBL, Uttara branch.

1.3.1 Broad Objectives

This internship report is prepared primarily to determining the Customer Satisfaction in Remittance division of IBBL, Uttara branch.

1.3.2 Specific Objectives

More specifically, this study entails the following aspects: To give an overview of IBBL. To focus on the services and facilities provided to clients of IBBL. To discuss the impacts of their policies on clients Satisfaction IBBL. To identify the consumers choices. To understand the problems of the customers during experimenting the remittance service. To analyzed marketing strategies for customer satisfaction of IBBL. To understand the problems of the customers to maintain transection ratio. To know how the company ensures the committed services to the customers.

1.4 Scope of the study:

As a student of Bachelor of Business Administration (BBA) every student has to conduct a practical orientation in any organization for fulfilling the requirements of the 14 weeks Internship Program. The main purpose of the program is to introduce the students to the real corporate world. Our place of internship was Islamic Bank Bangladesh Ltd. one of the leading Banks of Bangladesh. We have worked for 10 weeks at Different departments. The main intention of the study is the standards and effects of client satisfaction to find, understand and document the processes and activities carried by IBBL and correlate them to get a clear picture of the level of the overall client satisfaction. The report covers details about the service, overview of the company and also facilities provided by the company to satisfy their clients. The main focus is on the analysis of the clients satisfaction level. All the information is collected from all the levels of employees and clients of IBBL. We hope that our report contains all the necessary information needed to complete a successful internship report.

1.5 Methodology of the Study

In order to conduct this internship report both primary & secondary data have been utilized.

1.5.1 Primary Data Collection

The primary data have been obtained through using following three techniques: Face to face conversation with the employees. Deskwork in different sections/departments.
To get quantitative data on customer satisfaction directly from customers with a

view to measure their level of satisfaction Weve interviewed 40 account holders of IBBL having different profession & who lies in different age group. The interviews have been conducted using a structured questionnaire containing 10 questions representing the five dimensions of customer satisfaction measurement. A sample
questionnaire has been annexed in the appendix part.

1.5.2 Secondary Data Collection

There have elaborations of different types of secondary data in our research. The sources are of those datas are: a. Internal Sources:
Banks Annual Reports Official Documents Website of the bank

b. External Sources
Published literatures Journals & Newspapers Consultation of related books & publications. Website Surfing Consultation of related books & publications.

1.6 Research design:

The research is exploratory in nature because the project paper attempt is to identify whether the clients are satisfied with the service of IBBL or not.

1.6.1 Population:
The population of the research paper is all the clients who are getting service from IBBL in remittance division. Our population of this research is the IBBL, Uttara branch remittance clients and the clients are 3600 (approximate).

1.6.2 Element:
The sampling element of the research paper is each who is getting the service of remittance from IBBL Uttara branch.

1.6.3 Sampling Unit:

The sampling unit of the research paper is the clients who are getting service from IBBL in remittance division.

1.6.4 Extent:
The extent of a research paper is the area, which the paper covers to fulfill the objectives. Here it is IBBLs projects.

1.6.5 Sampling frame:

A sampling frame is the list of all sampling elements available for selection. The sampling frame of this research paper is the list of clients who are getting service from IBBL in remittance division.

1.6.6 Sample size:

Census research is conducted for the project paper. Sample size is the total number of sample elements from the population selected in the sample, which represents the whole population of the research. Among 3600 (approximate) clients WE have interviewed 40 clients who are getting service from IBBL in remittance division.

Chapter Two

Organizational Overview

2.0 Historical Background of IBBL

In August 1974, Bangladesh signed the Charter of Islamic Development Bank and committed itself to reorganize its economic and financial system as per Islamic Shariah. In January 1981, the President of Peoples Republic of Bangladesh While addressing the third Islamic conference held at Mecca and Taif suggested The Islamic countries should develop a separate banking system of their own in order to facilitate their trade and commerce". This statement of the president indicated favorable attitude of the government of the Peoples Republic of Bangladesh towards establishing Islamic banks and financial institution in the country. In early November 1980, Bangladesh bank, the countrys Central Bank, sent a representative to study the working of several Islamic Banks abroad. In November 1982, a delegation of IDB visited Bangladesh and showed keen interest to participate in establishing a joint venture Islamic bank in the private sector. They found a lot of work had already been done and Islamic banking was in a ready from for immediate introduction. Two professional bodies of Islami Economics Research Bureau (IERB) and Bangladesh Islami Bankers Association (BIBA) made significant contribution towards introduction of Islami banking in the country. They came forward to provide training of Islamic banking to top bankers and economists to fill up the vacuum of leadership for the future Islami bank in Bangladesh. They also had seminars, symposiums and workshops on Islami economic and banking throughout the country to mobilize public opinion in favor of Islami banking. Their professional activities were reinforced by a number of Muslim entrepreneurs working under the support of the then Muslim Businessmen society (now reorganized as Industrialist & Businessmen Association). The body concentrated mainly in mobilizing equity capital for the emerging Islami bank. At last, the long drawn struggle to establish an Islami bank in Bangladesh become a reality and Islami bank Bangladesh limited was established in march 1983 in which 19 Bangladeshi national, 4 Bangladeshi institutions and 11 banks, financial institutions and

government bodies of the middle East and Europe including IDB and two eminent personalities of the kingdom of Saudi Arabia joined hands to made the dream a reality. Later, other Islami Banks, Islami Insurance Companies and Financial Institution were established in the country. Some traditional banks opened Islamic banking branches in some major cities.

2.1 Mission and Vision of IBBL Mission To establish Islamic Banking through the introduction of a welfare oriented banking system and also ensure equity and justice in the field of all economic activities, achieve balanced growth and equitable development through diversified investment operations particularly in the priority sectors and less developed areas of the country. To encourage socio-economic uplift and financial services to the low-income community particularly in the rural areas.

Vision Our vision is to always strive to achieve superior financial performance, be considered a leading Islamic Bank by reputation and performance. Our goal is to establish and maintain the modern banking techniques, to ensure the soundness and development of the financial system based on Islamic principles and to become the strong and efficient organization with highly motivated professionals, working for the benefit of people, based upon accountability, transparency and integrity in order to ensure stability of financial systems. We will try to encourage savings in the form of direct investment. We will also try to encourage investment particularly in projects which are more likely to lead to higher employment.

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2.2 Strategic Objectives

To ensure customers' satisfaction. To ensure welfare oriented banking. To establish a set of managerial succession and adopting technological changes to ensure successful development of an Islamic Bank as a stable financial institution. To prioritize the clients welfare. To emerge as a healthier & stronger bank at the top of the banking sector and continue stable positions in ratings, based on the volume of quality assets. To ensure diversification by Sector, Size, Economic purpose & geographical location wise Investment and expansion need based Retail and SME/Women entrepreneur financing. To invest in the thrust and priority sectors of the economy. To strive hard to become an employer of choice and nurturing & developing talent in a performance-driven culture. To pay more importance in human resources as well as financial capital. To ensure lucrative career path, attractive facilities and excellent working environment. To ensure zero tolerance on negligence in compliance issues both shariah and regulatory issues. To train & develop human resources continuously & provide adequate logistics to satisfy customers need. To be excellent in serving the cause of least developed community and area. To motivate team members to take the ownership of every job. To ensure development of devoted and satisfied human resources. To encourage sound and pro-active future generation. To achieve global standard. To strengthen corporate culture. To ensure Corporate Social Responsibilities (CSR) through all activities. To promote using solar energy and green banking culture and ecological balancing.

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2.3 Special Features of IBBL

All activities of the bank are conducted according to Islamic Shariah where profit is the legal alternative to interest. The bank's investment policy follows different modes approved by Islamic Shariah based on the Qur'an & Sunnah. The bank is committed towards establishing welfare oriented banking system, economic growth of the low-income group of people, create employment opportunities. According to the need and demand of the society and the country as a whole the bank invests money to different 'Halal' business. The bank participates in different activities aiming at creating jobs, implementing development projects of the government and creating infrastructure. The bank is committed to establish an economic system resulting in social justice and equitable distribution of wealth. It is committed to bring about changes in the underdeveloped rural areas for ensuring balanced socio economic development of the country through micro credit program and financing of SME's as well. According to Mudaraba system, the depositors are the partners of the investment income of the bank. About 70% of the investment income is distributed among the Mudaraba depositors. To render improved services to the clients imbued with Islamic spirit of brotherhood, peace and fraternity and by developing an institutional cohesion.

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2.4 Core Values

Trust in Almighty Allah Strict observance of Islamic Shariah Highest standard of Honesty, Integrity & Morale Welfare Banking Equity and Justice Environmental Consciousness Personalized Service Adoption of Changed Technology Proper Delegation, Transparency & Accountability

2.5 Commitments
To Shariah To the Regulators To the Shareholders To the Community To the Customers To the Employees To other stakeholders To Environment

2.6 Recognition of Performance

As recognition of good performance IBBL won the following awards: IBBL has been selected as the only Bank from Bangladesh in top 1000 banks in the world by a UK based century old financial magazine, 'The Banker' published the list in its July 2012 issue. The institute of Chartered Accountants of Bangladesh (ICAB) awarded IBBL the first prize of SARRC Anniversary Award for Corporate Governance.

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 South Asian Federation of Accountants (SAFA) awarded IBBL as joint Winner in the Corporate Governance Disclosure Award-2010. South Asian Federation of Accountants (SAFA) also awarded IBBL with Certificate of Merit in Banking Sector in the Annual Report for the year 2010. The Institute of Cost and Management Accountants of Bangladesh (ICMAB), awarded IBBL as the ICMAB National Best Corporate Award-2007 (First Position, Local Bank) and ICMAB Best Corporate Performance Award 2008 (Second Position, Private Commercial Bank). The Institute of Chartered Accountants of Bangladesh (ICAB) awarded IBBL with 3rd position under the catergory-1, Banking in the best published accounts and reports for the year 2010, the Certificate of Appreciation for the year 2001 & 2010 and Certificate of Merit for the year 2008. The Global Finance, a reputed U.S.A. based quarterly Financial Magazine, awarded IBBL as the best Islamic Financial Institution of the country for the years 2008, 2009, 2010 & 2011. The Global Finance also awarded IBBL as the best bank of the country for the year 1999, 2000, 2004 and 2005. ICICI Bank, Hong Kong, awarded IBBL as The Quality Recognition Award-2009 for U.S. Dollar Clearing (2009). Bankers Forum awarded IBBL as the Best Bank for Corporate Social Responsibility for 2008 and 2009. The Bank-BimaPatrika, a Fortnightly Magazine, awarded IBBL as the Best Islami Banking Award 2007. Exclusive economic weekly The Industry awarded IBBL as the Best Rated Bank Award-2010 The Citi Bank NA awarded IBBL as the Largest Contributor in Foreign Trade Operations in Europe- Bangladesh corridor in 2009. The UAE Exchange awarded IBBL for mobilizing around 30% of total foreign remittance of the country. IBBL is committed to provide banking service that is purely based on Islamic Shariah, transparent and efficient. We would like to express our heartfelt thanks and gratitude to

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Almighty Allah, our customers, patrons, shareholders, print & electronic media, regulatory authorities and employees whose support and confidence has made us worthy of these great recognitions by the experts like the Global Finance, the Institute of Cost and Management Accountants of Bangladesh (ICMAB), the Institute of Chartered Accountants of Bangladesh (ICAB), the Bank-BimaPatrika, the weekly Industry, The Citi Bank NA and The UAE Exchange.

2.7 IBBL at a glance

Corporate Information (as on December 31, 2013)

Date of Incorporation Inauguration of 1st Branch (Local office, Dhaka) Formal Inauguration Share of Capital Local Shareholders Foreign Shareholders Authorized Capital Paid-up Capital Deposits Investment (including Investment in Shares)

13th March 1983 30th March 1983

12th August 1983

36.91% 63.09% Tk. 20,000.00 million TK 12,509.64 Million Tk. 417,844.14 Million Tk. 399,930.80 Million

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Foreign Exchange Business: Import Export Remittance Branches Total number of Branches Number of AD Branches Number of ATM Booth (Own) Number of Shareholders Manpower 285 45 300 60,302, 11,465 Tk. 284,587 Million Tk. 197,095 Million TK 300,915 Million

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2.8 Organizational Structure

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2.9 Structure of Uttara Branch

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2.10 Board of Directors:

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2.11 Management Committee:

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2.12 Sariah Supervisory Committee:

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Important Duties of the Shariah Board As an expert source on Islamic Principles (Including Fatwas), the Board through a representative, usually the General Secretary of the Board, supervises the Shariah compliance of all the transactions in the Bank. To devote time and effort to devising more Shariah -compliant transactional procedures, templates and banking products that enable the Bank to adapt to market trends while maintaining a high competitive edge in deposit procedures, investments, and banking services. At the same time, the Board gives its opinion on proposed new templates, and banking transactions. Analyzing unprecedented situations that are not covered by fatwa, in the Bank's transactional procedures or those reported by different departments, branches and even the customers. This is to ensure Shariah compliance before the Bank develops any new products or implements any new procedure. Analyzing contracts and agreements concerning the Bank's transactions, as submitted by the Chairman of the Board of Directors or any department/branch within the bank or requested by the Board itself so that Shariah compliance can be evaluated and maintained. Ensuring Shariah compliance in the implementation of all banking transactions and correcting any breaches. Analyzing administrative decisions, issues and matters that require the Board's approval. Supervising Shariah training programmes for the Bank's staff. Preparing an annual report in the Bank's balance sheet with respect to its Shariah compliance. The Fatwa & Shariah Supervision Board submits a complete annual report for the Board of Director, summarizing all the issues referred to the Board, as well as its opinion on the Bank's transactional procedures.

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2.13 Products & Services Deposit Products

Islami Bank Bangladesh Limited mobilizes deposits through different types of accounts. Al-Wadeah Accounts Mudaraba Accounts Al-Wadeah Accounts Islami Bank Bangladesh Limited operates Al-wadeah Current Account on the principles of Al-wadeah. The Bank commits to refund money deposited in these Accounts on the demand of customers. On the other hand the Bank takes permission from customers that the Bank may utilize their money. Customers may operate these Accounts as their desires. No profit is disbursed in these Accounts and depositors do not bear any loss. Mudaraba Accounts In the perspective of these Accounts the Bank is 'Mudarib' and customers are 'Shahib Al-Mal'. On behalf of depositors, the Bank invests their deposited money and distributes minimum 65% of investment-income earned through deployment of Mudaraba funds among Mudaraba depositors after the closing of the year. Al-Wadeah Current Account (AWCA) Mudaraba Savings Account (MSA) Mudaraba Term Deposit Account (MTDR) Mudaraba Special Notice Account (MSNA) Mudaraba Hajj Savings Account (MHSA) Mudaraba Special Savings (Pension) Account (MSSA) Mudaraba Savings Bond (MSB) Mudaraba Monthly Profit Deposit Account (MMPDA) MudarabaMuhor Savings Account (MMSA) MudarabaWaqf Cash Deposit Account (MWCDA) Mudaraba NRB Savings Bond (MNSB) Account Mudaraba Foreign Currency Deposit Account (MFCD) Students Mudaraba Savings Account (SMSA) Mudaraba Farmers Savings Account (MFSA)

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Investment
The special feature of the Investment Policy of the Bank is to invest on the basis of profit-loss sharing system in accordance with the tenets and principles of Islamic Shari'ah. Earning of profit is not the only motive and objective of the Bank's Investment Policy rather emphasis is given in attaining social goal and objective in creating employment opportunities. Following modes are used for investment: BAI-MODES Bai-Murabaha Bai-Istijrar Bai-Muajjal Bai Salam Istisnaa Bai-As-Sarf SHARE-MODES Mudaraba Musharaka IJARA-MODES Hire Purchase Under ShirkatulMelk Under consumer financing, the Bank finances to the individuals for meeting their personal. family and household needs. The Bank has taken up various welfare oriented investment Schemes Investment Scheme Household Durables Scheme (HDS) Investment Scheme for Doctors (ISD) Transport Investment Scheme (TIS) Car Investment Scheme (CIS) Small Business Investment Scheme (SBIS) Micro Industries Investment Scheme (MIIS) Agricultural Implement Investment Scheme (AIIS)

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 Real Estate Investment Program (REIP) Real Estate Investment (Commercial & Working Capital) Agricultural Investment of IBBL NRB (Non Resident Bangladeshi) Entrepreneurs Investment Scheme(NEIS) Women Entrepreneurs Investment Scheme (WEIS)

NRB(Non Resident Bangladeshi) Entrepreneurs ServicesFeatures

Remitance Card Investment Scheme for Foreign Expatriate Mudaraba NRB Saving Bond

SME Information
Islami Bank Bangladesh Limited has been working since 1983 in the view to establish a welfare oriented Islami Banking system and also to ensure equity and justice in the field of all economic activities, achieve balanced growth and equitable development through diversified investment operations particularly in the priority sectors and less developed areas of the country and to encourage socio-economic uplift and financial services to the low income community, particularly in the rural areas. Since inception of the Bank, it has been giving priority in financing SMEs. Formation of SME Division The Board in its emergent meeting held on 02.11.2005 approved a memo bearing No. 2005/155 with the following resolution: Resolved that the investment in Small Enterprise shall be made in accordance with the terms and conditions contained in the Annexed Comprehensive Small Enterprise Investment Policy and SME Division under Investment Wing shall be established with necessary restructuring and duly manning with adequate officials as proposed. In order to emphasize SME investment, to run its SME functions smoothly and to strengthen the SME activities of the bank, it has created a separate Division namely Small and Medium Enterprise Division in 2009. Specialized SME Branches

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As per guideline and regulation of Bangladesh Bank, the Board of Directors of the Bank has selected a good number of SME prone areas, where Specialized SME/Agriculture Branches are being opening in order to facilitate the potential entrepreneurs in accessing to the finance from Shariah based banking sector. So far 30 nos. of such Specialized SME Branches have been opened and more such Branches shall be opened at the SME prone areas by order.

Locker Service
Our safe deposit locker service offered from select branches gives you a completely secured facility for safekeeping of precious items, confidential documents and other valuables. Services Personalised service Facilities to access outside scheduled time Parcel handling Safe custody of goods and bonds/shares Lockers available in various sizes. we.e. Small, Medium and Large. Locker Service Available Head Office Complex Branch Farmgate Branch New market Branch Kawran Bazar Branch Sylhet Branch Rajshai Branch Elephant Road Cox's Bazar Anderkilla Branch Chiringa Branch Gulshan Branch Dhanmondi Branch Uttara Branch VIP Road Branch Khulna Branch Agrabad Branch Chawkbazar Mouchak CDA Avenue Branch Feni Branch

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Any Branch Banking Service

IBBL has introduced its Online Banking service since 2006. Being the largest in online connectivity among all the branches we are capable of providing the better customer service to our clints. Registration is required to get this service. For registration please contact with your branch. It could be mentioned here that Online Banking does not refer to internet Banking. It is basically ANY branch banking. Services Cash Deposit Cash Withdraw Fund Transfer Account Statement Balance Inquiry Investment Recovery Transaction Limit There will be no limit for Cash Deposit and Fund Transfer. For Cash Withdrawal, transaction limit will be Tk.10,00,000 per day per account.

SMS Banking Service

IBBL SMS Banking IBBL has introduced its SMS banking service since 2008. Registration is required. For registration please contact to your branch. SMS Facilities are applicable only for our Online Branches. Services Mulitple Account Registration International Push- Pull Facility Account Balance (BAL ) Mini Account Statement (STM) Account Information (ACI) SMS Format IBB <space>SERVICE <space>PIN<space> A/C Serial

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Send to :6969 (for local clients) +8801714006969 (for international clients) Charges Till now, no charges required except the normal sms service charge. For more information please contact to your nearest branch or see the Rules and regulation given overleaf of the SMS Banking Regitration Form.

ATM Service
IBBL has introduced its ATM Banking service since 2000. Being the largest in online connectivity among the branches we are capable of providing the better customer service to our clints. Services Cash Withdraw Fund Transfer Mini Account Statement Balance Inquiry Transaction Limit For Cash Withdrawal maximum amount is Tk. 50,000 in a calendar date. Charges Tk.300 Yearly fees is applicable.

Islami Bank mCash at a glance

Islami Bank mCash is the Mobile Banking of Islami Bank Bangladesh Limited where the customers of any mobile company take the 24 hours of mobile banking services from anywhere of the country without going to any branches. According to the Bangladesh Bank Circular DCMPS No-08 dated September 22, 2011, the banking industry of Bangladesh has shown tremendous growth in volume and complexity over the recent years.

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Despite making significant improvements in all the areas relating to financial viability, profitability, innovation and competitiveness, there are concerns that banks have not been able to include vast segment of the population, especially the underprivileged sections and rural people into the fold of basic banking services. On the other hand, rapid growth of mobile phone users and wider range of the coverage of Mobile Network Operators (MNOs) has made their delivery channel an important tool of the trade for extending banking services to the unbanked/banked population. In order to ensure the access of unbanked people by taking advantage of countrywide mobile network coverage, Bangladesh Bank given the permission to start the mobile banking operation for adoption of the unbanked people who have mobile connection. Now, Islami Bank Bangladesh Limited proudly starting the Mobile Financial Services titled Islami Bank mCash which is the completely new addition to its existing services.

SWIFT Service
Society for Worldwide Inter-Bank Financial Telecommunication (SWIFT) is a bank owned co-operative serving the financial community worldwide. The SWIFT Transport Network (STN) is a dedicated global network for secure communication between SWIFT Customers. SWIFT supports the financial data communication and processing needs of financial institutions, through a range of financial messaging services and value-added processing, as well as, access through the STN and interface and application software. In short SWIFT is a pioneer in the automation of the global financial industries. Islami Bank Bangladesh Limited has introduced this SWIFT alliance entry system firstly in October 1999 and introduced SWIFT alliance access in October 2001.

Services Personalised service Facilities to access outside scheduled time Parcel handling

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 Safe custody of goods and bonds/shares Lockers available in various sizes.we.e. Small, Medium and Large.

IBBL Call Center and Phone Banking

What is Phone Banking: Phone Banking and Call Center is a modern banking service by which, clients can get 24 hours of service over any mobile/T&T phone without going to any branch and can avail all sort of queries/ requests/ complaints about Islami Banking services.

Features: An unique Banking service that driven by IslamiShariyah. 24 hours/day, 7days/week and 365 days/year banking facilities. Clients need not go to branches for availing services. Clients can avail services from all over the world with Bangladesh. Runs with latest technology to ensure highest standard of security. Customers can transact their money in different way by own self except cash transaction. Providing Automated services to the present and future clients from Bank. Customer can avail this service form any Mobile/PSTN provider.

Phone Banking Services: Fund Transfer Check account Balance Check Mini Statement Mobile Recharge Utilities Bill Payment Request for T-pin and Change

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IBBL Call Center Service:

Clients can get services about their queries, request and complaints from one center Simplified and Modern banking transaction Cheque book requisition Stop payment Request 7 days notice input Standing Instruction input Restriction to account Queries about different deposit schemes Inquiries about profit rate Different Investment related information SMS Banking/ we Banking/ Mobile Banking related information and services ATM related queries/ request and complaints services Foreign remittance related information and services Debit card/ Credit Card/ Remittance card information and services Online Banking related information and services HRD related information and many more

Registration Procedures for Phone Banking Service: There are two ways to Phone Banking Registration. Clients can register to this service from their nearby IBBL Branch By dialing 16259 or (+8802) 8331090 client can register to this service by our Customer Care Agent TPin Related Information: After successful registration client will be provided a four digits secured TPIN (Telephone personal Identification Number). This TPIN will provide sufficient security for the client and will be needed for every operation all time. Thus this number has to be preserved carefully and maintained with secrecy. Client can change TPIN anytime at will.

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Fund Transfer: To make Fund Transfer more secured client will be provided an OTP (One Time Password) which will be valid for only 30 minutes. Daily fund transfer limit is BDT 20000 Only. Phone Banking Service Charges: Mobile Recharge :Free A/C balance check: Free Mini-statement check: Free Fund Transfer: BDT 5.00/ Transaction How Safe Phone Banking: Phone banking is totally a safe and secured system where, client has been provided a 4 Digits Pin code that none but him can be disclosed. However, in case of fund transfer client will receive another OTP (One Time Password) by SMS without what fund transfer can not be done. Risks of cash transaction is reduced by this way.

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2.14 Corporate Governance

Corporate Governance policies and practices of IBBL are focused on ensuring proper delegation, transparency and accountability in the organization as a whole. The bank is structured and developed in line with the accepted Corporate Governance practices and guidelines of Bangladesh Bank and the Bangladesh Securities and Exchange Commissions (BSEC) notifications in this regard. While pursuing the interest of Shareholders value addition, the bank has attached utmost importance in setting up of a well-defined compliance oriented organization and business structure.

Board of Directors, Chairman and CEO: The members of the Board of Directors of IBBL are appointed pursuant to the provision of Companies Act 1994, Securities and Exchange Regulations and Memorandum & Articles of Association of the Bank. The Guidelines of Bangladesh Bank is strictly complied with in the formation of the Board. Independent Directors and Depositor Directors are appointed by the Board as per regulatory requirement.

Audit Committee: The Audit Committee is responsible to the Board of Directors. The duties of the Audit Committee are clearly set forth in writing. The Company Secretary acts as the secretary of the Committee. At least an independent director is required to fulfil the quorum of the audit committee.

Ethics and Compliance: The Bank pays close attention to the moral concerns in order to make the right ethical decisions on a day to day basis over and above observing the law, one of the basic professional requirements for the Bank. IBBL belives that upholding of critical interest to the customers, employees, regulators alike to the Bank itself as secured, reliable and efficient banking system is one of the pillars of economic stability of any country.

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Human Resources Development and Management: In order to keep pace with the additional human resources requirement and to enhance the employment opportunity in the country, periodic recruitment is done as per need of the Bank. In the year 2012, total 1,152 employees wererecruited and after this recruitment total number of employees of the Bank increased to 12,188 including 407 female officials as on 31st December 2012 against 11,465 including 216 female officials as on 31st December 2011. IBBLs Human Resources Management always believes to look at the man behind the machine because only an educated, talented and skilled employee can ensure the highest yield from the machine and hence the Bank always strives to develop skills and competencies at all levels of the employees.

Risk Management: As per guidelines of Bangladesh Bank, The Risk Management Wing (RMW) has been established in IBBL, which is responsible for identification and management of risks faced by the Bank. The details of our internal and external risk management mechanism is included in a separate section titled Risk Management of IBBL and steps have been taken to manage risks.

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2.15 External Environment:

Political Factor: Political interference by the leftist political parties claimed that various regulations with respect to Foreign Banks would benefit only those Banks, which intend to make a quick jump by providing high-profile corporate services, instead of those who wish to intensify their rural operations. Left political parties also cautioned that foreign players could increase their holding size in a particular Bank that would lead to an imbalance of power. Unstable political situation and some unauthorized political influence in banking sector have pushed this sector to a critical situation. Some big financial fraud incident happened recently in banking sector and thus Bangladesh Bank has made some strict policy and rules in Banking sector. Fall in share market and decrease of money supply in market makes the interest rate very high for loan seekers. The inflation is also high. All this factors are shaking the banking sector. Social Factor: Before nationalization of the Banks, their control was in the hands of the private parties and only big business houses and the effluent sections of the society gained benefits from the Banking in India. Thus, adoption of the social development model in the Banking Sector was necessary for speedy economic progress consistent with social justice in democratic political system. Bankers were directed to help economically weaker sections of the society and to provide needed finance to all the sectors of the economy with flexible and liberal attitude. Increase in the per capita income of the working class population of Bangladesh, enabled individuals to purchase goods, which were far out of their reach earlier. It also encouraged people to buy goods for their personal use and for their family. Today societies have shifted towards nuclear family, resulting into the growing needs for home consumer durables like washing machine, television, bike, car etc. This showed how we as a society have moved from a socialist society to a consumerist society. Understanding these changes and to use them as an opportunity Banks provided various types of loans to

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farmers, working women, professionals, education loan to the students, housing loans, and consumer loans. Even customers life style, their behavior, and consumption patterns have changed which acted as an opportunity as well as a threat for Banking Industry. Technological Factor: Development in technology has encouraged the bankers to change the concept of Branch Banking to Anywhere Banking. Information Technology (IT) usage remained a key lever in the journey of Indian Banking Sector towards a competent, effective, responsive and user-friendly financial system. Technology brought devices like automatic voice recorders and currency accounting machines. Banks are also issuing smartcards or debit cards also called as electronic purse. Technological changes had forced bankers to adopt customer-based approach instead of product-based approach. The Foreign Banks operating in India made the beginning with respect to technology innovation and new Private Sector Banks aggressively started proposing technology based services. However, Public Sector Banks has also moved towards technology execution to prevent loss of market share.

2.16 Internal Environment

Corporate Culture Organizational culture is considered as an essential component of business corporations as it has the ability to bind organizational members together. The culture and values of Islami Bank have been proved as a source of competitive advantage for the bank and are acting as a key component to establish the relationship between the bank and employees and , in turn , between employees and customers. Islami Bank has also been able to improve organizational performance via improving the performance of individual contributors and also recognizes existing talents to fill up the higher vacancies within the organization or place them in the right position, wherein the best use of their abilities can be ensured. Islami Banks culture promotes sharing of common goal which ensures harmonious relationship in the working environment. 37

Corporate Resources of Islami Bank Marketing Finance HRM Information Technology

Research and Development

2.17 Corporate Communication and Business Promotion

Public Relations: Public Relations is an immense need for reputation of any organization. Branding creates an image and a perception that capture the mind of the customers and hereby it is essential for all products. IBBL has moved forward with the visionary image of conveying the message of excellent service in the heart of the people. Public Relations Department in IBBL was created mainly to fulfill this purpose. Since its inception, the Department has been involved in many successful ventures that helped to create a new image and positive perception among our valued clients. Media Coverage: Media coverage for the Bank has visibly increased in the year. IBBL was in the leading position regarding coverage of news in print and electronic media along with web based news sites. Each month, the Bank got an average of 3325 column inches coverage on various events in the national dailies and weeklies. News of all the important programs of the Bank are being published in almost all the recognized newspapers. Besides, articles and features on Islamic Banking prospects and IBBL products along with our top managements interviews were published in reputed Dailies. Globally renowned Gulf News and Reuters interviewed the Banks Managing Director. Almost every leading news paper of the country published the Gulf News interview.

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Advertisement: Advertisements of various types and length were published in print & electronic media round the year. Around 113 official advertisements including financial statement, balance sheet, AGM notice, tender and recruitment notice; and 162 promotional advertisements like branch opening and ATM, months long campaign programs, product advertisement and on occasions of newspapers & TV channels founding anniversary were publicized. About 486 issues of different magazine, periodicals, and souvenirs published our advertisements on different products and themes. Design of different Advertisement of the Bank was improved.

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Sponsorship & Participation: The Bank earned huge publicity in the year 2012 sponsoring the National School Football Islami Bank Tournament, an event unprecedented in the countrys grass root sport history. About 5,000 school teams comprising one lakh students from all over the country participated in the tournament held in 480 upazilas. Positive image of the Bank was created among the schoolmen, parents andsport enthusiasts. During the year, the Bank sponsored East Zone Team in the first time franchisee-based longer version national cricket tournament namely Bangladesh Cricket League.

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Other Publicity: The Bank continued road side publicity withbillboards at Banglamotor, Ruposhi Bangla point, Gulishthan, Bangabhavan gate, Matijheel Shapla Chattar and Bijoy Sarani. Digital board displays were arranged on the occasion of differentnational programs and fairs. The Bank sponsored Kamalapur to Rajarbag road-median beautification program by color showy and herbal plants. A number of quality documentaries were made on theBanks performance and its CSR activities were displayed on rious Bank programs across the country.

Public & Media Relations: During the year the Bank devised a slogan Sholo Koti Manusher Kache Jai, Amader Desh Amra Sajai and observed two multi purpose campaign programs namely Setubandhoner 100 Din & Antorik Sebar 3 mas. A number of public programs including discussion seminar, clients meeting, NRB get together, peoples representative & elite assembly, Shari`ah conscious meeting, professionals assembly, entrepreneur

development program etc. were organized across all the branches on the occasion. Through these programs, the Bank was able to fulfill its aim of proving itself as a transparent, accountable and benevolent financial entity in this country. The Bank also arranged reception program for Bangladesh Cricket Board President Mr. AHM Mostafa 41

Kamal MP for assuming his responsibilities as ICC Vice President. With a view to consolide good relations with the media, a good number of bilateral and person-to-person meetings between\ the top management of the Bank with Editors, Senior Journalists and Reporters from prominent print and electronic media were arranged.

Publications: Publications of the Bank increased remarkably in 2012 in addition to witnessing qualitative change. All the publications were updated in standard form. Publications of periodicals were regularized. Five books, booklets and manuals were published in the year including Islamic Banking in Bangladesh: An Alternative Paradigm for Sustainable Socioeconomic Development and updated `Islami Bank: 30 Years of Progress. Four issues each for Islami Bank house-magazine Porikroma and RDS magazine Palli Unnayon Barta were published. Twelve folders were published in modified version and these were also reprinted.

2.18 Corporate Social Responsibility:

Corporate Social Responsibility (CSR) is a form of corporate self-regulation integrated into a business model. CSR policy functions as a built-in, self-regulating mechanism whereby a business monitors and ensures its active compliance with the spirit of the law, ethical standards, and international norms. CSR is a process that aims to embrace responsibility for the companys actions and create a positive impact through its activities on the environment, consumers, employees, communities, stakeholders and all other members of the public. For entrancing social face of Islamic Banking Islami Bank Bangladesh Limited has been involved in charitable activities since its inception through creation of Sadaqah Tahbil. Thereafter, the same has been done through Islami Bank Foundation (IBF) converting the Sadaqah Tahbil into a full-fledged foundation on May 20, 1991. To comply with the instruction of the Central Bank, IBBL has started doing the said CSR through creation of Corporate Social Responsibility Division (CSRD) at Head Office since 16th July 2009. CSR of Islami Bank Bangladesh Ltd.

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 Responsibility to the Shareholders

Responsibility to the Employees Responsibility to the Customers Responsibility to the Suppliers Responsibility to the Community

Sector-wise CSR Expenditure for the year 2012:

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IBBL Chairman is handing over Winter Cloths to Prime Minister Sheikh Hasina for Prime Ministers Relief Fund

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Chapter Three

Remittance activities in IBBL

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3.0 Definition of Remittance:

The process of sending money to remove an obligation. This is most often done through an electronic network, wire transfer or mail. The term also refers to the amount of money being sent to remove the obligation. This bank is authorized to deal in foreign exchange business. As an authorized dealer, a bank must provide some services to the clients regarding foreign exchange and this department provides these services. Remittance procedures of foreign currency. There are two types of remittance: 1. Foreign Outward Remittance: The sending country, where the wage earner is located. The sender uses a bank or foreign exchange company to send money to foreign country. Many of the receiving banks have established remittance relationships with currency houses and banks in other countries to better facilitate the flow of remittances into the country. 2. Foreign Inward Remittance: The receiving country, where the beneficiary resides. The bank receives the money that has been sent from the sending person in the country in which the money has been earned. Exchange House Arrangement Bank has established remittance arrangement with 114 Exchange Houses in 17 countries of the world for facilitating remittance services. IBBL as a member of Bangladesh Electronic Funds Transfer Network (BEFTN) is routing 90% of its 3rd bankremittance by using BEFTN.

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3.1 Activities of this Department

Issuance of TC, Cash Dollar/Pound

Issuance of FDD,FTT& purchasing, payment of the same Passport endorsement Encashment Certificate F/C Account opening & filing Opening of Export FC Retention Quota A/C & maintain Maintenance of ledger of Cash Dollar, FC Deposit A/C & TC Maintain FBC register & follow up FBC Opening of Student file & maintain Preparation of all related statement, Voucher & posting Preparation of Weekly, Monthly, Yearly Statement for Bangladesh Bank returns timely.

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3.2 Medium of Remittance:

The remittance process involves the following four modes: Cash Remittance Dollar/ pound Sell Bank sells Dollar/pound for using in abroad by the purchaser. The maximum amount of such sell is mentioned in the Bangladesh Bank publication of Convertibility of Taka for Currency Transactions in Bangladesh. Purchase Bank can purchase dollar from resident and non-resident Bangladeshi and Foreigner. Most dollars comes from realization of Export Bill of Exchange. Travelers Cheque (TC) Issue of TC TC is useful to traveler abroad. Customers can incash the TC in abroad from the drawee bank. TC is alternative to holding cash and it provides better security than holding cash in hand. Buying of TC If any unused leaf of TC is surrendered bank buys it from the customer. All payments are made in local currency. Banks generally buy only those TC. Telex Transfer Outward TT It remits fund by tested TT via its foreign correspondence bank in which it is maintaining its NOSTRO Account. Incoming TT It also makes payment according to telegraphic message of its foreign correspondence bank from the

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corresponding VOSTRO Account. Foreign Demand Draft Bank issue Demand Draft in favor of purchaser or any other according to instruction of purchaser. The payee can collect it for the drawee bank in which the Issuing bank of Demand Draft holds its NOSTRO Account.

3.3 The process of remittance, bank must have to make profit as a business institution. Profit is made in two ways:
1. Commission Charge 2. Difference in the buying and selling rate. Remittance of profits: Branches of foreign firms/companies including foreign banks, insurance companies and financial institutions are free to remit their post-tax profits to their head offices through banks authorized to deal in foreign exchange (Authorized Dealers) without prior approval of Bangladesh Bank. Remittance of dividend/capital gain: Prior permission of Bangladesh Bank is not required for remittance of dividend income to non-residents in respect to their investments in Bangladesh; remittance of dividend declared out of previous year's accumulated reserves; and dividend and sale proceeds (including capital gains) of shares of companies listed in a Stock Exchange in Bangladesh. Such remittance may be affected prior to actual payment of taxes provided that the amount payable to the tax authorities at the applicable tax rate is withheld by the company. Remittance of sale proceeds of shares of companies not listed in Stock Exchange requires prior Bangladesh Bank permission, which is accorded for amounts not exceeding the net asset values of the shares. Remittance of salaries and savings by expatriates: Expatriates working in Bangladesh with the approval of the Government may remit 49

through an Authorized Dealer (AD) 50% of salary and 100% of leave salary as also actual savings and admissible pension benefits. No prior Bangladesh Bank approval is necessary for such remittances. Remittance of royalty/technical fees: Industrial enterprises may enter into agreements for payment of royalties, technical know-how/technical assistance fees abroad without prior permission if the total fees and other expenses connected with technology transfer do not exceed (a) 6% of the previous years sales of the enterprises as declared in their tax returns, or (b) 6% of the cost of imported machinery in the case of new projects. These agreements, however, need to be registered with the Board of Investment (BOI). Agreements not in conformity with these general guidelines require prior permission of the BOI. ADs may remit the royalties, technical know-how/technical assistance fees payable as per agreements registered with/approved by BOI, without prior approval of Bangladesh Bank. Remittance on account of training and consultancy: Industrial enterprises producing for the local market may remit through ADs up to 1% of their sales as declared in their previous year's tax returns for the purpose of training and consultancy services without prior approval of Bangladesh Bank. Remittance by shipping lines, airlines, courier service companies: Foreign shipping lines, airlines and courier service companies may send abroad, through an AD, funds collected in Bangladesh towards freight and passage, after adjustment of local costs and taxes, if any.

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3.4 Forms Remittance

a) Inward Remittance b) Outward Remittance As our concern is about Inward foreign Remittance, we will now only know about Inward foreign Remittance. Mainly the earnings of our brother working abroad termed as Inward Foreign Remittance. Inward remittances are considered the sum of workers remittances, compensation of employees, and migrants transfers. Workers remittances refer to transfers in cash or in kind from migrants to resident households in the countries of origin. Usually these are ongoing transfers between members of the same family, with persons abroad being absent for a year or longer. Compensation to employees refers to the wages, salaries, and other remuneration, in cash or in kind, paid to individuals who work in a country other than where they legally reside Initiatives Taken by IBBL to Foster Inward Foreign Remittance: Nothing comes without anything. There have huge sacrifice, plan and dynamism to be in this successful position of IBBL. IBBL has dedicated and honest work force . Now lets have a on initiatives taken by IBBL. SpotCash: To provide quick payment of foreign remittance IBBL has made integrated software named spot cash. IBBL is the most technologically update modern Bank and all of its branches are in the coverage of online. So, by this integrated software IBBL can easily and smoothly give payment of foreign remittance. Affiliation with Almost All of the Currency Bearer Houses: IBBL has affiliation with almost all of the companies and houses that bears currency. So it can give payment from all countries. Here are list of some of this affiliates: Western Union Money Gram Xpress Money of U IME 51

 AE exchange Prabha Merchant Trade EzRemit of Bahrain exchange Habib Express of HabibQater International exchange Company May back Turbo Cash of Zenj exchange NBL Quick Pay Cash Express of Al Ansari exchange Est. Ceylinco Fast Cash of Seylon Bank Ltd Remit Master And some other houses E-Mail based SpotCash: E-Mail based SpotCash Arrangements with 33 (thirty three) Banks / Exchange House s.

3.5 Remittance Card Service

Islami Bank Bangladesh Limited has introduced Islami Bank Remittance Card to send money from abroad. This card ensures the Non Residence Bangladeshi of safe and quick hassle free money transfer to their family. Benefits 24 Hours Service. Can be received this card from any IBBL branch without any fee. Draw money from any IBBL booth. Card Balance Inquiry from any IBBL booth. Foreign Remittance is deposited in this card. Bank account is not necessary Maximum Tk. 50,000.00 from ATM booth and any number of amount from bank counter can be drawn. Only foreign remittance sender / receiver can take this service of Remittance Card. Utility Bill can be paid by Remittance Card. 52

 Balance inquery from SMS or iBanking Service. Transaction Limit For Cash Withdrawal from ATM booth maximum amount is Tk. 50,000 in a calendar date. Any number of amount from bank counter. Charges No charges is applicable.

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Chapter Four

Customer Satisfaction Based on Theoretical Aspect

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4.0 Introduction
Superior service quality is widely acknowledged as a driver of perceived value, which, in turn, will enhance customer loyalty (Parasuraman and Grewal, 2000) and improve the providers image, sales and profitability (Buzzell and Gale, 1987; Gummesson, 1993). Because satisfaction is basically a psychological state, care should be taken in the effort of quantitative measurement, although a large quantity of research in this area has recently been developed. Work done by Berry, Brodeur between 1990 and 1998 defined ten 'Quality Values' which influence satisfaction behavior, further expanded by Berry in 2002 and known as the ten domains of satisfaction. These ten domains of satisfaction include: Quality, Value, Timeliness, Efficiency, Ease of Access, Environment, Interdepartmental Teamwork, Front line Service Behaviors, Commitment to the Customer and Innovation. These factors are emphasized for continuous improvement and organizational change measurement and are most often utilized to develop the architecture for satisfaction measurement as an integrated model. Work done by Parasuraman, Zeithaml and Berry between 1985 and 1988 provides the basis for the measurement of customer satisfaction with a service by using the gap between the customer's expectation of performance and their perceived experience of performance. This provides the measurer with a satisfaction "gap" which is objective and quantitative in nature. Work done by Cronin and Taylor propose the "confirmation/disconfirmation" theory of combining the "gap" described by Parasuraman, Zeithaml and Berry as two different measures (perception and expectation of performance) into a single measurement of performance according to expectation. According to Garbrand, customer satisfaction equals perception of performance divided by expectation of performance.

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4.1 Definition of Customer

The word derives from "custom," meaning "habit"; a customer was someone who frequented aparticular shop, who made it a habit to purchase goods of the sort the shop sold there rather than elsewhere, and with whom the shopkeeper had to maintain a relationship to keep his or her "custom," meaning expected purchases in the future. A customer, also called client, buyer, or purchaser, is usually used to refer to a current or potential buyer or user of the products of an individual or organization, called the supplier, seller, or vendor. This is typically through purchasing or renting goods or services. The word customer has neither been defined by the Negotiable Instrument nor by any other law. Therefore, in the field of banking it is not cleared yet. According to Paget, the following characteristics will be present: a. There must be recognizable course or habit of dealing between the customer and a bank. b. Dealing between him and the bank must be in the nature of regular banking business. Zairi (2000) said, Customers are the purpose of what we do and rather than them depending on us, we very much depend on them. The customer is not the source of a problem, we shouldnt perhaps make a wish that customers should go away because our future and our security will be put in jeopardy

4.2 Definition of Satisfaction

Satisfaction is the contentment one feels when one has fulfilled a desire, need, or expectation; "the chef tasted the sauce with great satisfaction". Here in the study customers agreement (agree & strongly agree) with the surveys statements will indicate their satisfaction. According to Hansemark and Albinsson (2004), satisfaction is an overall customer attitude towards a service provider, or an emotional reaction to the difference between what customers anticipate and what they receive, regarding the fulfillment of some need, goal or desire.

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4.3 Definition of Customer satisfaction

Customer satisfaction, a term frequently used in marketing, is a measure of how products and services supplied by a company meet or surpass customer expectation. Customer satisfaction is defined as "the number of customers, or percentage of total customers, whose reported experience with a firm, its products, or its services (ratings) exceeds specified satisfaction goals. Philip Kotler (2000) defined satisfaction as: a persons feelings of pleasure or disappointment resulting from comparing a product are perceived performance (or outcome) in relation to his or her expectations. Hoyer and MacInnis (2001) said that satisfaction could be associated with feelings of acceptance, happiness, relief, excitement, and delight. It is seen as a key performance indicator within business and is often part of a Balanced Scorecard. In a competitive marketplace where businesses compete for customers, customer satisfaction is seen as a key differentiator and increasingly has become a key element of business strategy.

4.4 Shariah - Basis of Customers' Satisfaction

When competition intensifies, Islamic financial institutions start to offer more or less similar products and services. There is no doubt that the customers perception of satisfactory service provided by the CSA (Customer Support Advisors) will influence the performance of an Islamic financial institution and determine its competitiveness and success. Therefore, the need to be customer-focused in the rapidly changing marketing environment has never been more important for Islamic banks and financial services than now. However, under the present circumstances, when customers are becoming more demanding and increasingly mobile between competing financial providers, being customer-oriented is not enough. Islamic financial institution and more specifically their contact employees (CSRs) need to be perceived by their customers as ethically Islamic. Islamic financial institutions should offer a complete range of Shari'ahbased products and services. Moreover, Islamic financial institutions should aim to satisfy their customers by letting them choose what is most suitable for them in line with Shari'ah.

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Ethical sales behavior on customer satisfaction

4.5 Sales Behavior Model Based on Islamic Business Ethics

Islamic ethical sales behavior, as perceived by the customers, is proposed to directly influence level of customer satisfaction by core service (H1) to high level of satisfaction (H2) as well as loyalty (H4) to Islamic financial institutions or banks. As for the indirect effects, it is suggested that the customers satisfaction with core service (H1) influences the satisfaction of customers loyalty (H4) level to Islamic banks. These two variables, in turn, lead to customers trust (H3). Finally, customers trust (H3) directly influences the increase of customers loyalty (H4) to Islamic banks. Details are explained in the following:

4.5.1 Customer Satisfaction with the Core Service (H1)

The customer satisfaction with CSAs increased when the customer felt the advisor had been fair in the transaction something, which is associated with Islamic ethical sales behaviour. The figure 1 shows that the perceived ethical standard of CSAs had a positive impact on customer satisfaction. In some service settings, discriminate validity between

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satisfaction with the CSA and the Islamic financial institution should not be necessarily expected. Taking this matter into account, we some times see that in a service context the CSA and the selling Islamic financial institution or banks products are often indistinguishable in the mind of the customer. Hence, a positive association exist between core service and level of customer satisfaction with an Islamic financial institution.

4.5.2 High Level Customer Satisfaction (H2) Leads to Trust (H3) and Loyalt y (H4)
Research in services marketing has widely shown that customer satisfaction leads to customer loyalty. For instance, in the mainstream literate on marketing, there are many examples that whether customers had replaced their insurance policies or allowed them to lapse depended on their prior satisfaction with the whole life coverage. Similarly, the core-service satisfaction is positively associated with repurchase intentions. Furthermore, customer satisfaction with Islamic financial institutions has a significant and positive effect on loyalty. A few literature on customers of Islamic financial service industries provide evidence of the positive influence of customer satisfaction both with the Islamic financial institution as service provider and the core service on customer intention to use the facilitys services again, and recommend the service to a friend.

4.5.3 Customer Trust (H3) to Islamic Banks

Customers trust relates to a belief on the part of customers that the obligations of Islamic financial institutions are fulfilled. In other words, the customers believe and feel that a CSA of an Islamic financial institution selling products can be relied upon to behave in such a manner that the longterm interest of the customers will be served. Therefore, trust in an Islamic financial institution may be defined as customer confidence in the quality and reliability of the services offered by the Islamic financial institution. This conceptualisation of trust corresponds to the concept of post-trust that derived from the principles of muamelat based on Islamic business ethics. Service employees (such as CSAs) with whom the customers interact, confirm and build trust in the Islamic financial 59

institution or detract from its reputation and ultimately destroy trust. Figure 1 suggest that Islamic ethical sales practices, as perceived by Islamic financial service customers have increased customers trust (H3) in CSAs.

4.5.4 Customer Loyalty (H4) to Islamic Bank

An important consideration in a service financial institutions customer base is the degree to which its customers are loyal. Based on the principles of Islamic marketing ethics, customers loyalty to Islamic financial institutions is conceptualised as a combination of a customers intention to maintain an ongoing relationship with Islamic financial institutions, and their willingness to recommend Islamic financial institutions to other consumers. Customers perceptions of face-to-face interaction with CSAs have traditionally been considered one of the most important determinants for loyalty.

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4.6 Factors affecting customer satisfaction

Many factors affect customer satisfaction. According to Hokanson (1995), these factors include friendly employees, courteous employees, knowledgeable employees, helpful employees, accuracy of billing, billing timeliness, competitive pricing, service quality, good value, billing clarity and quick service. This is shown in Figure below-

Factors that Affect Customer Satisfaction

4.7 Customer Satisfaction in seven steps

Its a well known fact that no business can exist without customers. Therefore, a business can go long run when its customer get value from the organization & if they are satisfied. An organization make its customers satisfied if follow seven (7) steps: 1. Encourage Face-to-Face Dealings 2. Respond to Messages Promptly & Keep Your Clients Informed 3. Be Friendly and Approachable 4. Have a Clearly-Defined Customer Service Policy 5. Attention to Detail (also known as The Little Niceties)

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6. Anticipate Your Clients Needs & Go out Of Your Way to Help Them Out 7. Honor Your Promises Customer service, like any aspect of business, is a practiced art that takes time and effort to master. All you need to do to achieve this is to stop and switch roles with the customer.

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Chapter Five Performance Analysis

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5.0 IBBLs world rating

Islami Bank Bangladesh Limited, the largest private bank of Bangladesh placed among Top 1000 World Banks 2012 list. UK based century old financial magazine The Banker published this list analyzing in depth-data & industrys performance. The Bankers Top 1000 World Banks ranking has been setting the industry benchmark since 1970, providing comprehensive intelligence about the health and wealth of the banking sector. Alongside strong global banks of the developed and emerging countries, Islami Bank positioned in the list as the lone financial institution of Bangladesh. Inclusion of Islami Bank in the prestigious club of best 1000 is tantamount of global recognition of overall development of Bangladesh Banking Sector. Now IBBL is the number one Private Commercial Bank in Bangladesh. As per Bankers' Almanac (January 2001 edition) published by the Reed Business Information, Windsor Court, England, IBBL's world Rank is 1771 among 3000 banks selected by them. This position was 1902 among 4500 selected banks as on January 1999 edition. IBBL's country Rank is 5 among 39 banks as per ratings made by the above Almanac on the basis of IBBL's Financial Statements of the year 2001.

5.1 Recognition par Excellence

The Banker: IBBL is the only Bangladeshi Bank that has entered into the Worlds Top 1000 Banks List 2012. IBBL has made Bangladesh proud of being among the best 1000 banks in the world, ranked by The Banker, the UKs premier financial magazine. This prestigious ranking is a clear testimony of IBBLs stability and strength, and its leadership in financial sector of Bangladesh. IBBL has been ranked 17th in the performance category (assessed by profits on capital), 70th in Return on Asset (ROA), 660th in Soundness (assessed on Capital Assets Ratio), 868th in Size (assessed on Assets) and 1000th in Tier-1 capital. The last criterion is 64

widely accepted as the most important measure for gauging the financial stability of a bank.

South Asian Federation of Accountants (SAFA): South Asian Federation of Accountants (SAFA) rewarded IBBL as Winner of the SAARC Anniversary Award for Corporate Governance Disclosures for the year 2011. SAFA awarded IBBL also with the 1st Runner up title under Private Sector Banks (including Co-operative Banks) in the best presented annual reports for the year 2011. SAFA declared IBBL as the Joint Winner in the Corporate Governance Disclosure Award-2010. SAFA also conferred IBBL the Certificate of Merit in Banking Sector in the Best Presented Accounts & Reports Award for the year 2010.

Institute of Chartered Accountants of Bangladesh (ICAB): The Institute of Chartered Accountants of Bangladesh (ICAB) conferred IBBL with the 1st position under SAARC Anniversary Award for Corporate Governance for the year 2011. ICAB also conferred IBBL the 3rd position under banking category in the Best Presented Annual Reports 2011 & 2010.

Institute of Cost and Management Accountants of Bangladesh (ICMAB): The Institute of Cost and Management Accountants of Bangladesh (ICMAB) glorified IBBL with the ICMAB National Best Corporate Award-2011, 2010 (First Position amongst the Private Commercial Banks in Islamic Operation), ICMAB Best Corporate Performance Award2008 (Second Position amongst the Private Commercial Banks) and the ICMAB National Best Corporate Award-2007 (First position among the Local Banks).

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5.2 Current Performance

Ialami Bank Bangladesh Ltd. could successfully encounter all ads volatile to remain focused on its course of delivery strong growth in deposit, advantages core banking business. Bank ensure proper liability management, high standard of credit risk management while pursuing increase in business. During the period of last 3 years, 66

despite of having many new banks and branches, Ialami Bank Bangladesh Ltd. could increase the market share.

Sector wise Investment: Industrial 29% SME 47% Commercial 11% Real Estate 5% Agriculture 6% Transport 2%

Figure 2-1: Sector Wise Investment of IBBL

Market Share (Remittance) Year Market Share (Percentage) 2012 28% 2011 27% 2010 26% 2009 22% 2008 19%

Table 2-2: Market Share Remittance

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Figure 2-2: Market Share Remittance of IBBL Import, Export & Remittance Performance: Sector 2012 mill Tk Import Export Remittance 284,588 197,095 300,915 2011 million Tk 301,207 178,244 236,607 2010 million Tk 246,281 148,421 214,629 2009 million Tk 161,230 106,424 194,716 2008 million Tk 168,329 93,962 140,168

Table 2-5: Import, Export & Remittance Performance

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Figure: 2-5: Import, Export & Remittance Performance of IBBL 2.5.5.3 Net Profit after Tax Year TK in Million 2012 5,524 2011 4,841 2010 4,463 2009 3,404 2008 2,675

Figure 2-8: Net Profit after Tax of IBBL

Table 2-8: Net Profit after Tax

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Market value Per Share (Highest Taka) Year Highest Taka 2012 59.00 2011 83.98 2010 90.00 2009 89.00 2008 83.00

Table 2-9 Market values Per Share (Highest Taka) Figure 2-9: Market Value Per Share of IBBL

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Chapter Six Actual Task Part

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6.0 Actual Task: Our internship experience at Islami Bank Bangladesh Ltd. started in the Uttara Branch, located at sector 3 Uttara beside rajlaxmi shopping complex which is a popular, sophisticated, spacious and quiet branch. The most attracting thing of the branch is the state-of-the-art interior design and space of the bank premise. 6.1 Job at Remittance and Accounts section: Job Responsibilities: - Job responsibilities at accounts and remittance were short because of the work sensitivity. Giving the remittance service through designated file paths in online when the officer was unavailable. Though the authorizing limit was very low Registering day to day pay slip into register and excel template Checking the debit and credit entry in number and amount from audit trail to general accounts sheet and put on the voucher register. Calculating daily entries and position of demand deposits, time deposits, loansadvances and schemes 6.2 Specific Responsibilities of Job: The duties and responsibilities, We had to perform in the bank are given below: Before joining in the branch, having an eight days training in the Islami Bank Training and Research Academy. After joining in the branch, performing any kind of duties that is ordered by the manager and the senior principal officer. Explaining different massage and issues to the supervisor. Additionally, sitting in the Account Opening desk to help the customers to open an account.

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 Besides, being in the cash counter. Solving different problems of computers. Typing different papers Checking different e-mails. Entering data in the computer. Reading different books of Islami Bank Training and Research Academy. Putting seal in different papers. 6.3 Different Aspects of Job Performance: Before joining in the branch, We have an eight days training in the Islami Bank Training and Research Academy and after conducting the training, We have to participate in an examination. We have scored good marks on the examination. When We join in the branch, we have to perform different duties that were ordered by the manager and the senior principal officer and they are very pleased on our performance. WE have to explain different massage and issues to the supervisor. In addition, we sat in the Account Opening desk to help the customers to open an account. There we have to write the forms and give information about what is required to open the account. Besides, we were in the cash counter to collect cash from the customers. We also solve different problems of computers. Moreover, we typed different papers of agreements of loan and investment. We also check different e-mails of the bank. Sometimes, we entered data of account opening form in the computer. we read different books of Islami Bank Training and Research Academy too which are written by different Islamic researchers. 6.4 Observations: The task of accounts is very sensitive and warrants highest attention in recording and scrutiny activities. The learning from accounts helped us to forwarding work as WE know the term of balance sheet which is an accumulation of entire function of a branch. The work of credit became easy because our understanding of accounts was good. Going through different files from CIB to maintenance has helped to get idea on regular

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logistical and operational issues.

Chapter Seven
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Research Part

7.0 Problem Statement: While doing internship we have found that there was less foreign remittance transactions than transactions occurred in last two months. So, to find out the reason we have conducted a survey to our client and try to find their satisfaction level.

7.1 Project Timeline: To prepare this project report we spend total 30 days. The project activities have shown in the following Gantt chart. Week 01: Developed the research plan Week 02: Developed the hypothesis Week 03: Conduct survey research

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Week 04: Data analysis and Interpretation

Description of activity Developed the research plan Developed the hypothesis Conduct survey research Data analysis and Interpretation

Week 01

Week 02

Week 03

Week 04

Table 1: Project Timeline

7.2 Budget Information:

The total expenditure to prepare this project as followed Particulars Transportation Printing, Photocopy & Binding Cell phone & Internet Bill Bills Amount (Tk.) 140 1,000 1,200 480

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Others Expenses Total

1,000 5580

Table 2: Internship Budget Information

7.3 Research Methodology: 7.3.1 Type of research: Descriptive 7.3.2 Research Approach: Survey (Quantitative research) 7.3.3 Instrument of Research Questionnaires with Structure question ( closed end) 10 Questions and pattern is Likert Scale

7.4 Population Definition: Population: The population for the survey was the 195 (Approximately) Element: Clients of IBBL. Extent:Uttara Branch Duration:18 Jan to 18 March 2014. 7.5 Sampling Plan: Sample Unit:The Clients of IBBL considered as the Sample unit. Sample Frame: The sample frame of this study consists of all the clients or remittance section. Sample Size: The sample size of this research is 40 clients of IBBL. As if in our surveyed, WE take sample size is 40.As our sample size is more than 30, thats why WE am following Z test. Sampling Procedure: Probability Sampling - Simple Random Sampling

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7.6 Contact Method -Questionnaire Survey 7.7 Analysis and Presentation of Data: After collecting all the data WE had analyzed all the data individually. For analysis of data Microsoft Word, Microsoft Excel, different tables and graphs were used to make the data meaningful. WE present the data through graph, chart, table etc. Based on our analysis WE made findings, recommendation and conclusion. The following formula has been followed:
X s n

Z test =

= mean value n = sample size s= = Standard deviation

X = Average

7.8 Hypothesis scale: In order to analysis the data a 5 point Liker scale has been used 1 stands for strongly disagreed customer, 2 stands for only disagreed customer, 3 stands for the neither agree or disagreed customer, 4 stands for agreed employee, and 5stands for strongly agreed employee. The scale has been shown below:

Scale

Weighted

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Strongly Disagree Disagree Neither Agree or Disagree Agree Strongly Agree

1 2 3 4 5

Table 3: Hypothesis scale 7.9 Hypothesis Development: Some relevant hypothesis has been formulated for this study to fulfill the objectives of the study. HA: IBBL remittance section uses proper procedures to meet the customer demand. HA: IBBL uses modern technologies for foreign remittance activities. HA: IBBL has effective transaction timeline. HA: IBBL ensures secure Banking HA: Customer gets true and full information before opening new account. HA: Service charges of IBBL are reasonable as comparatively to other banks. HA: IBBL completes transaction rapidly. HA: Employee of IBBL has enough knowledge to answer customers queries. HA: The behavior of employee of IBBL installs confidence in customers. HA: Employees are cooperative to customers. 7.10 Hypothesis Testing

H1

H2

H3

H4

H5

H6

H7

H8

H9

H10

1= Strongly Disagree 2=Disagree

03

04

02

02

04

03

07

02

05

05

04

05

04

03

05

06

10

03

03

03

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3=Neither Agree Nor Disagree 4= Agree 5= Strongly Agree Total Average Standard Deviation Z - test value

05

03

05

03

07

06

02

02

04

04

15 13

12 16

14 15

20 12

13 11

16 09

13 08

21 12

16 15

13 15

151

151

156

157

137

142

125

157

158

150

3.78 3.78 3.90 3.92 3.43 3.55 3.13 3.95 3.95 3.75

1.23 1.37 1.17 1.07 1.39 1.22 1.45 1.06 1.15 1.37

6.48 6.48 7.57 8.45 4.23 5.44 2.75 8.65 7.97 5.77 Table 4: Hypothesis Testing

7.11 Graphical Representation: 01.HO: IBBL remittance section does not use proper procedures to meet the customer demand. HA:IBBL remittance section uses proper procedures to meet the customer HO: = 2.5 demand.

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HA: > 2.5 n = 40 Here, X = 3.76 = 1.23 Z=

= 6.48

At 5% level of significance, follows Z distribution =1.645 Since Z cal> Z tab, the null hypothesis is rejected. So at 5 % level of significance, it can be said IBBL remittance section uses proper procedures to meet the customer demand.

H1
Strongly Disagree Disagree Neutral Agree Strongly Agree

33%

7%

10% 12%

38%

Hypothesis 1

02.HO: IBBL does not use modern technologies for foreign remittance activities. HA: IBBL use modern technologies for foreign remittance activities. HO: = 2.5 HA: > 2.5 n = 40 Here, X = 3.78 = 1.37 81

Z=

= 6.48

At 5% level of significance, follows Z distribution =1.645 Since Z cal> Z tab, the null hypothesis is rejected. So at 5 % level of significance, it can be said IBBL remittance section uses proper procedures to meet the customer demand.

H2
Strongly Disagree Disagree Neutral Agree Strongly Agree

10% 40% 12% 8%

30%

Hypothesis 2

03.HO: IBBL has no effective transaction timeline. HA: IBBL has effective transaction timeline. HO: = 2.5 HA: > 2.5 n = 40 Here, X = 3.9 = 1.17

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Z=

= 7.57

At 5% level of significance, follows Z distribution =1.645 Since Z cal> Z tab, the null hypothesis is rejected. So at 5 % level of significance, it can be said IBBL remittance section uses proper procedures to meet the customer demand.

H3
Strongly Disagree Disagree Neutral Agree Strongly Agree

5% 38%

10% 12%

35%

Hypothesis 3

04.HO: IBBL does not ensure secure Banking HA: IBBL ensures secure Banking HO: = 2.5 HA: > 2.5 n = 40 Here, X = 3.93 = 1.07

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Z=

= 8.45

At 5% level of significance, follows Z distribution =1.645 Since Z cal> Z tab, the null hypothesis is rejected. So at 5 % level of significance, it can be said that IBBL ensures secure Banking.

H4
Strongly Disagree Disagree Neutral Agree Strongly Agree

5% 30%

7% 8%

50%

Hypothesis 4

05.HO: Customer doesnt get true and full information before opening new account. HA: Customer gets true and full information before opening new account. HO: = 2.5 HA: > 2.5 n = 40 Here, X = 3.43 = 1.39

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Z=

= 4.23

At 5% level of significance, follows Z distribution =1.645 Since Z cal> Z tab, the null hypothesis is rejected. So at 5 % level of significance, it can be said Customer gets true and full information before opening new account. .

H5
Strongly Disagree Disagree Neutral Agree Strongly Agree

26%

10% 13%

18% 33%

Hypothesis 5

06.HO: Service charges of IBBL are higher as comparatively to other banks. HA: Service charges of IBBL are reasonable as comparatively to other banks. HO: = 2.5 HA: > 2.5 n = 40 Here, X = 3.55 = 1.22

85

Z=

= 5.44

At 5% level of significance, follows Z distribution =1.645 Since Z cal> Z tab, the null hypothesis is rejected. So at 5 % level of significance, it can be said Service charges of IBBL are reasonable as comparatively to other banks.

H6
Strongly Disagree Disagree Neutral Agree Strongly Agree

23%

7% 15%

15%

40%

Hypothesis 6 07.HO: IBBL doesnt complete transaction rapidly. HA: IBBL completes transaction rapidly. HO: = 2.5 HA: > 2.5 n = 40 Here, X = 3.13 = 1.45

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Z=

= 2.75

At 5% level of significance, follows Z distribution =1.645 Since Z cal> Z tab, the null hypothesis is rejected. So at 5 % level of significance, it can be said IBBL doesnt complete transaction rapidly.

H7
Strongly Disagree Disagree Neutral Agree Strongly Agree

20%

17%

25% 33% 5%

Hypothesis 7

08.HO: Employee of IBBL doesnt have enough knowledge to answer customers queries. HA: Employee of IBBL has enough knowledge to answer customers queries. HO: = 2.5 HA: > 2.5 n = 40 Here, X = 3.95

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 = 1.06 Z=

= 8.65

At 5% level of significance, follows Z distribution =1.645 Since Z cal> Z tab, the null hypothesis is rejected. So at 5 % level of significance, it can be said Employee of IBBL has enough knowledge to answer customers queries.

H8
Strongly Disagree Disagree Neutral Agree Strongly Agree

5% 30%

7% 5%

53%

Hypothesis 8 09.HO: The behavior of employee of IBBL doesnt install confidence on customers. HA: The behavior of employee of IBBL installs confidence on customers. HO: = 2.5 HA: > 2.5 n = 40 Here, X = 3.95 = 1.15

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Z=

= 7.97

At 5% level of significance, follows Z distribution =1.645 Since Z cal> Z tab, the null hypothesis is rejected. So at 5 % level of significance, it can be said The behavior of employee of IBBL installs confidence on customers.

H9
Strongly Disagree Disagree Neutral Agree Strongly Agree

5% 38%

10% 7%

40%

Hypothesis 3

10.HO: Employees are not cooperative to customers.. HA: Employees are cooperative to customers.. HO: = 2.5 HA: > 2.5 n = 40 Here, X = 3.75 = 1.37

89

Z=

= 5.77

At 5% level of significance, follows Z distribution =1.645 Since Z cal> Z tab, the null hypothesis is rejected. So at 5 % level of significance, it can be said Employees are cooperative to customers..

H10
Strongly Disagree Disagree Neutral Agree Strongly Agree

12% 38%

7% 10%

33%

Hypothesis 10

7.12 Findings: 1. Around 33% of respondents are strongly agreed, 38% are agreed, 12% respondents are neither agreed nor disagreed that IBBL remittance section uses proper procedures to meet the customer demand.

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2. Around 40% of respondents are strongly agreed, 30% agreed with the statement of Employees of IBBL uses modern technologies for foreign remittance activities. 3. In the statement of IBBL has effective transaction timeline 30% of respondents are strongly agreed, 35% agreed and 12% neutral. 4. Around 30% of respondents are strongly agreed, 50% agreed with the statement that IBBL ensures secure Banking. 5. In the statement of Customer gets true and full information before opening new account 26% of respondents are strongly agreed, 33% agreed and 18% neutral. 6. Around 23% of respondents are strongly agreed, 40% are agreed, 15% respondents are neither agreed nor disagreed that Service charges of IBBL are reasonable as comparatively to other banks. 7. Around 20% of respondents are strongly agreed, 33% agreed with the statement of IBBL completes transaction rapidly. 8. In the statement of Employee of IBBL has enough knowledge to answer customers queries. 30% of respondents are strongly agreed, 53% agreed and 5% neutral. 9. Around 38% of respondents are strongly agreed, 40% agreed with the statement of The behavior of employee of IBBL installs confidence in you. 10. In the statement of Employee of Employees are willing to help you 38% of respondents are strongly agreed, 33% agreed and 10% neutral.

7.13 Recommendation: Bank is a service providing organization. The main objectives of the world famous and successful banking organizations are to make profit through addressing the clients time to time with new piece of service instruments by ensuring their

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satisfaction .

So the following recommendations can be drawn from the above

research and findings: 1. Though IBBL uses proper procedures to meet the customer demand but they need to concern about it. 2. Although they are using modern technologies but customer are not 100% satisfied so their technologies should be flexible for customer. 3. Customer wants their transaction as fast as possible. Sometime IBBL takes some more time for doing transaction. They should reduce it for providing better service. 4. IBBL has a strong safety for their customer. If they make some advertising about that they will be more popular to upcoming clients. 5. IBBL should provide as much as true and detail information to their customer for making better understands. 6. Service should be as less as possible for attracting customer in competitive market. 7. Clients have a great complain about rapid transaction. IBBL should complete transaction rapidly. 8. New employee should be well train up for providing better service. 9. Employee should be well mannered for making customer confident and safe. 10. Employee should be more willing to customer. Because when a client will be happy then he/she will bring new client.

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References

Annual Reports and Journals: IBBL Annual Reports 2012, 2011, 2010 Journals of Bangladesh Bank Tri-monthly publication of IBBL Bank Internship Reports on IBBL Bank and other commercial banks Auditors Reports of IBBL Bank Different types of brochures of IBBL Bank Books: Principles of Marketing by Philip Kotler and Gary Armstrong, 11 Edition Mirakhor, A (1997), Progress and Challenges of Islamic banking, Review of Islamic Economics, vol. 4, No.2. A way to Islami Banking, Dr. Mohammed Haider Ali Miah, 2008 Edition Business Research Methods, (8th edition), William G. Zikmund. Bank Management and Financial Services, 6th ed, Roes, Peter S., Hudgins, Sylvia C (2005) Mcgraw Hill Publications.
th

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Web Sites: www.islamibankbd.com www.bangladeshbank.org.bd.com. www.google.com http://www.customerservicemanager.com/customer-service-articles.htm Abbreviations: IBBL LIM LTR A/C DD FDD TT FTT EB EFT L/C SWIFT VP Ltd List of Table Table No 2-1 2-2 2-3 2-4 2-5 2-6 2-7 2-8 Description Sector Wise Investment Market Share Remittance Return n Asset Return on equity Import, Export and Remittance performance Gross Profit Ratio Net profit before Tax Gross Profit After Tax Page 23 24 24 25 25 26 26 27 Islami Bank Bangladesh Limited Loan against Import Merchandise Loan against Trust Receipt Account Demand Draft Foreign Demand Draft Telegraphic Transfer Foreign Telegraphic Transfer Export Bill Electronic Fund Transfer Letter of Credit Society for worldwide Inter Bank Financial Vice President Limited

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2-9 3-1 3-2 5-1 5-2 5-4

Market Values per share Name of the PSI Agency Accounting procedure of import L/C Project Timeline Internship Budget Information Hypothesis Testing

27 51 52 71 71 74

List of Figures: Figure No 2-1 2-2 2-3 2-4 2-5 2-6 2-7 2-8 2-9 3-1 5-15-7 Description Sector Wise Investment Market Share Remittance Return n Asset Return on equity Import, Export and Remittance performance Gross Profit Ratio Net profit before Tax Gross Profit After Tax Market Values per share Hierarchy of Foreign Exchange Department Graphical Representation of Hypothesis testing 34 75-81 Page 23 24 24 25 25 26 26 27 27

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Questionnaire: Dear Respondent, We are Rakibul Hasan and Fahmida Hossain Tania students of Bachelor of Business Administration (BBA); in the College of Business Administration (CBA) at International University of Business Agriculture and Technology (IUBAT). WE am doing survey on Customer satisfaction in Remittance division of IBBL, Uttara branch. as a partial fulfillment of the course Internship Report (BUS-490). Would you mind giving us few minutes to answer some questions? Answering the questions will be highly acknowledged and esteemed, as it will be a great assistance for us to complete the research paper. Questionnaire on Customer satisfaction Name: . Profession: Age: ...Cell No: .. How do you agree with those questionnaires? Give a tick () mark on your answer. 1) IBBL remittance section uses proper procedures to meet the customer demand. 1. Strongly Disagree 2. Disagree 3. Neither agree nor disagree 4. Agree 5. Strongly agree 2) IBBL use modern technologies for foreign remittance activities. 1. Strongly Disagree 2. Disagree 3. Neither agree nor disagree 4. Agree 5. Strongly agree 3) IBBL has effective transaction timeline. 1. Strongly Disagree 2. Disagree 3. Neither agree nor disagree

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4. Agree 5. Strongly agree 4) IBBL ensures secure Banking 1. Strongly Disagree 2. Disagree 3. Neither agrees nor disagree 4. Agree 5. Strongly agree 5) Customer gets the full and true information before opening new account. 1. Strongly Disagree 2. Disagree 3. Neither agree nor disagree 4. Agree 5. Strongly agree 6) Service charges of IBBL are reasonable as comparatively to other bank. 1. Strongly Disagree 2. Disagree 3. Neither agree nor disagree 4. Agree 5. Strongly agree 7) IBBL completes transaction rapidly. 1. Strongly Disagree 2. Disagree 3. Neither agree nor disagree 4. Agree 5. Strongly agree 8) Employee of IBBL has enough knowledge to answer your question. 1. Strongly Disagree 2. Disagree 3. Neither agree nor disagree 4. Agree

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5. Strongly agree 9) The behavior of employee of IBBL installs confidence in you. 1. Strongly Disagree 2. Disagree 3. Neither agree nor disagree 4. Agree 5. Strongly agree 10) Employees are willing to help you. 1. Strongly Disagree 2. Disagree 3. Neither agree nor disagree 4. Agree 5. Strongly agree Comments or Suggestion: Thank You

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