INTERNSHIP REPORT ON MODUS OPERANDI OF FOREIGN EXCHANGE DIVISION OF NATIONAL BANK LIMITED

INTERNSHIP REPORT ON MODUS OPERANDI OF FOREIGN EXCHANGE DIVISION OF NATIONAL BANK LIMITED MD MOHIUDDIN KHAN ID # 1806 REG # 36652 EXAMINATION ROLL # 130226 SESSION: 2012-2013 DEPARTMENT OF MANAGEMENT STUDIES (3rd Batch) SUBMISSION DATE: MAY 18, 2017 DEPARTMENT OF MANAGEMENT STUDIES F ACULTY OF B USINESS STUDIES JAHANGIRNAG AR UNIVERSITY SAVAR, DHAKA-1342 INTERNSHIP REPORT ON MODUS OPERANDI OF FOREIGN EXCHANGE DIVISION OF NATIONAL BANK LIMITED SUBMITTED TO Mr Abu Sayef Md Muntaquimul Bari Chowdhuri Assistant Professor Department of Management Studies Jahangirnagar University Savar, Dhaka -1342 SUBMITTED BY Md Mohiuddin Khan Id # 1806 Registration # 36652 Examination Roll # 130226 Department of Management Studies (3rd Batch) Jahangirnagar University Savar, Dhaka -1342 SUBMISSION DATE: MAY 18, 2017 Department Of Management Studies Faculty of Business Studies Jahangirnagar University Savar, Dhaka-1342 NATIONAL BANK LIMITED An Internship Report On Modus Operandi of Foreign Exchange Division of National Bank Limited LETTER OF TRANSMITTAL May 18, 2017 Mr Abu Sayef Md Muntaquimul Bari Chowdhuri Assistant Professor Department of Management Studies Jahangirnagr University Subject: Modus Operandi of Foreign Exchange Division of National Bank Limited Dear Sir, With due respect, I draw your kind attention to the fact that to prepare an “Internship Report” and submitting the same to you is a partial requirement of BBA program of Department of Management Studies, University of Jahangirnagar It is a pleasure to present my report to you on “Modus Operandi of Foreign Exchange Division of National Bank Limited” for the same purpose I have tried my best in preparing this report and left no stone unturned to make the report a vivid and comprehensive one in spite of having a number of limitations I sincerely believe that it will serve the required purposes I shall always be obliged to furnish any clarification regarding this report, if required Sincerely Yours, Md Mohiuddin Khan Id # 1806 Reg No # 36652 Exam Roll # 130226 Session: 2012-13 Department of Management Studies Jahangirnagr University i LETTER OF AUTHORIZATION This is to certify that the Internship Report on “Modus Operandi of Foreign Exchange Division of National Bank Limited” is the authentic record and the report is done by Md Mohiuddin Khan, based on reliable information under my d irect supervision as a partial fulfillment of the requirement of Bachelor of Business Administration (BBA) degree from the Department of Management Studies, Jahangirnagar University The report has been accepted and approved and it is a record of the bonafide work carried out successfully by Md Mohiuddin Khan I wish him every success in life with very best of luck Abu Sayef Md Muntaquimul Bari Chowdhuri Assistant Professor, Department of Management Studies, Faculty of Business Studies (FBS) Jahangirnagar University Savar, Dhaka-1342 ii DECLARATION I, Md Mohiuddin Khan, hereby declare that the report on “Modus Operandi of Foreign Exchange Division of National Bank Limited” has been carried out by me after successfully completion of months of internship period in National Bank Ltd and has not been submitted to any other educational Institute for academic purposes I also confirm that the report is only prepared to meet my academic require ment not for any other purpose It will not act anything that will hamper the confidentiality and interests of National Bank Ltd It might not be used with the interest of opposite bodies of National Bank Ltd The work I have presented does not breach any copyright I further undertake to indemnify the University against any loss or damage arising from breach of the foregoing obligations ………………………… Md Mohiuddin Khan Id # 1806 Reg No # 36652 Exam Roll # 130226 Session: 2012-13 Department of Management Studies Jahangirnagr University iii ACKNOWLEDGEMENT Successful completion of any report of internship requires help from a number of persons and as a student; I have also taken help from different people during preparation of this report First of all, I would like to thank Almighty Allah Then I express my sincere gratitude to my honorable supervisor Assistant Professor Mr Abu Sayef Md Muntaquimul Bari Chowdhuri He allowed me his precious time freely right from the very beginning of this internship work till the completion His experienced guidance, affectionate encouragement and critical suggestions provided me necessary help for the report and make the way for the meaningful ending of this report work in a short duration I have no hesitation to say that, without his constant supervision and valuable advices and suggestions from time-to-time, I would be failed to complete the whole thing I am also grateful to the employees of National Bank Ltd Especially, more delightfully I would like to thank Mr Mahbub Anam Siddique (SAVP, HR Division), Mr Kamol Chandra Roy (SAVP, Manager, Mirpur Branch), M r Atiqur Rahman (SEO), Mr Imran Yus uf (FEO), and Mr Shafiqul Islam (Officer) for their enormous supervision on me and giving me enough support to work under different Senior Officers Moreover, I would also like to thank all those who contributed through their comments and suggestions to prepare this paper in a comprehensive manner iv EXECUTIVE SUMMARY An Internship program is indisputably crucial & essential for gathering experience through learning and spreading the scope of Knowledge I have done my Internship program in National Bank Limited, Mirpur Branch The main purpose of this report is to provide a comprehensive picture to the arenas of Foreign Exchange operation of National Bank Limited This report has been divided into eleven flinders These are: Introduction, Corporate review of National Bank Limited (NBL), Foreign Exchange, and Documents Used in Foreign Exchange Business, Letter of Credit (L/C), Import, Export, Foreign Remittance, Findings and Analysis, References Banks play a vital role in economy of a country Countries’ development greatly relies on the activities of the banks Commercial Banks take deposit and give away loans These banks help in savings Savings create investment Apart from these, Commercial Banks play a significant role in import of country through opening of bank L/Cs These assist to earn foreign currency by helping the exporters in export The bank provides the customers with the safety, liquidity and profitability by means of different savings media offering different degrees of a mix of liquidity return and safety of savings The saving banks use as their key of business They invest the savings in higher degree of return and maximize their profit in business National Bank Limited is one of the leading commercial Bank in Bangladesh It launched its` journey in 1983 The main objective of the Bank is to provide all of banking services at the doorsteps of the people This Bank also partakes in various social and development programs and in implementation of various government policies as well In preparing this report, miscellaneous primary and secondary data have been collected from Head Office and Mirpur Branch v National Bank Limited plays as harbinger in handling foreign trade and foreign exchange transactions with wide network of branches at home and a large number of correspondent banks worldwide It is handling the largest volume of import-export business including homebound remittances For this reason, Foreign Exchange of this Bank is very important But, now a day’s banking sectors of Bangladesh is suffering the disease of default culture which is the consequence or result of bad performance of most banks There are three types of basic modes of foreign exchange market These are: Export Financing, Import Financing and Foreign Remittance Foreign Exchange Branch does these foreign exchange activities vastly In this report, the overall functions of foreign exchange of National Bank Limited (NBL) has been mentioned including how to open L/C, types of L/C, Parties involved in L/C, Exchange rates, currency conversion, offshore banking and so forth In operating Foreign Exchange activities, this renowned bank strictly follows rules of ICC, Bangladesh Bank Guideline for Foreign Exchange (Vol 1, 2), Import- Export policy (Control), 1950, Foreign Exchange Regulation Act, 1947 NBL earns more from Import Business To open Import L/C, National Bank follows every rules and take 5-9 days to justify the documents This bank opens various types of L/C for importer in accordance to their needs BTB L/C, Deffered L/C, Sight L/C and irrevocable L/C are the most common among those Importer needs insurance of the products and so, NBL offers them to make insurance in Shikdar Insurance If everything occurred properly, National Bank pays the amount to the Exporter`s Bank through SWIFT Export is NBL`s another section of F/X Division In this case, NBL plays the role of Exporter`s Bank NBL delivers Exporter`s documents to Issuing Bank and makes arrangement to collect Exporters payment in time Our Government encourages Business organizations to Export more From EDF Exporters can take loan NBL also provide financial opportunity to the Exporters vi From 1994-2002 NBL was sole agent of Western Union NBL provides services of Inward/Outward Remittance Expatriates can send money to their relatives through NBL Nostro and Vostro account are used in Remittance This bank also opens Foreign Currency Account in it`s AD branches NBL also has Offshore Banking Unit Offshore Banking is a unique solution for banks across the globe to carry out international banking business involving non-resident foreign currency denominated assets and liabilities taking the advantages of low or nonexistent taxes/ levies and higher return on investment There are many barriers in this Division The problems occurred by new rules and regulations, government, environment, Importer or from Exporter In spite of the barriers, NBL has a great prospect in the relevant context At last, findings of the report have also been mentioned and analyzed in sapient manner To analyze the findings, various methods like SWOT, PESTAL Analysis, Fishbone diagram, Five forces model, VRIO framework, BCG Matrix, CATWOE Analysis and few calculation have also been made using SPSS The required recommendation has also been provided to overcome the limitation In my opinion, if the recommendations are properly followed, NBL can reach to its` goal surely It is very necessary to attach few papers, documents, calculations which are not included in the main body So, few sample of documents like financial status of NBL, Proforma Invoice, Bill of Exchange, Form C, Letter of Authorization copy of Bangladesh Bank and Foreign Exchange charge sheet of National Bank Limited have been attached with the report in the appended part Reasonable care has been given to ensure the accuracy and quality to make the report standard and it is believed that this report is included all the necessary information to be relevant vii Annex Five years Financial Summary i Annex Inward Remittance Received Annex Bill of Exchange ii Annex Proforma Invoice iii Annex L/C Authorization Form iv Annex Export Form v vi Annex Remittance form vii Annex Form `C` viii Annex National Bank Limited International Division Head Office, Dhaka Schedule of Charges for Foreign Exchange Transactions SL No Item IMPORT 1.1 L/C opening commission under Cash L/C (Sight): 1.1.1 With 100% C ash Margin realized at the time of opening of L/C 1.1.2 Below 100% C ash Margin 1.2 L/C opening commission under DP 1.2.1 With 100% C ash Margin realized at the time of opening of L/C Period / Value st quarter Rest quarters & part thereof Minimum st quarter Rest quarters & part thereof Minimum st 1.3 quarter Rest quarters & part thereof Minimum st quarter Below 100% cash margin Rest quarters & part thereof Minimum L/C opening commission for Back to Back L/C on account of Export oriented Garments, Textile Ind etc 1.3.1 Having last years export below BDT 50 crore 1.3.2 Having last years export for BDT 50 crore to BDT 100 crore 1.3.3 Having last years export over BDT 100 crore 1.4 L/C opening commission under EDF 1.5 L/C opening commission under Aid/Loan/Credit/Barter etc 1.6 Acceptance of DP L/C (Cash/BTB) 1.6.1 Acceptance Commission 1.6.2 C ommunication C harge 1.7 L/C Transmission C harge 1.7.1 By SWIFT 1.7.2 By Mail/ C ourier 1.7.3 If foreign L/Cs are transmitted in short and non-operative 1.8 L/C Amendment Communication C harges 1.8.1 By SWIFT 1.8.2 By Mail/ C ourier 1.9 L/C amendment 1.9.1 Amendment for increase of L/C value or Extension of time 1.9.2 Amendment for other than increase of L/C value or Extension of time 1.10 Add C onfirmation C harge: 1.10.1 For sight & DP L/C s on applicant’s A/C 1.10.2 1.11 For sight & DP L/C s on beneficiary’s account, charges to be recovered from the applicant IRC (Import) renewal fee 1.12 IRC (Intender) renewal fee 1.13 L/C cancellation 1.13.1 C ancellation Charges 1.2.2 st quarter Rest quarters & part thereof Minimum st quarter Rest quarters & part thereof Minimum st quarter Rest quarters & part thereof Minimum st quarter Rest quarters & part thereof Minimum st quarter Rest quarters & part thereof Minimum st Rate @ 0.25% @ 0.25% BDT 750 @ 0.40% @ 0.30% BDT 1000 @ 0.25% @ 0.25% BDT 750 @ 0.50% @ 0.40% BDT 1000 @ 0.40% @ 0.40% BDT 750 @ 0.40% @ 0.30% BDT 1000 @ 0.40% @ 0.30% BDT 1000 @ 0.40% @ 0.30% BDT 1000 @ 0.40% @ 0.30% BDT 1000 quarter Rest quarters & part thereof Minimum SWIFT-Foreign SWIFT-Local Mail-Foreign Mail-Local @ 0.40% @ 0.30% BDT 1000 BDT 750 BDT 500 At actual At actual Foreign Local BDT 2750 BDT 2500 At actual By SWIFT BDT 1000 Foreign Local BDT 750 BDT 500 At actual st quarter Rest quarters & part thereof As same as L/C opening C ommission / Rate BDT 750 flat F Bank C harges Service C harge Service C harge At actual BDT 500 @ 0.20% Govt fee Service C harge Govt fee Service C harge At actual BDT 500 At actual BDT 500 No C harges ix SL No Item 1.13.2 C ommunication C harge 1.13.3 Expired L/C Charges 1.14 Period / Value Rate SWIFT-Foreign SWIFT-Local Mail-Foreign Mail-Local BDT 750 BDT 500 At actual At actual No C harges Reimbursement Authority MT740 Processing fee BDT 200 1.15 Payment against local bills Processing fee BDT 1000 1.16 Discrepancy Charges for each set of discrepant document on Beneficiary’s A/c at the time of payment 1.16.1 Foreign 1.16.2 Local 1.17 Processing charges for LIM 1.18 1.19 C ollection of Credit Report on the Beneficiary of the Import L/C and applicant of the Export L/C from Dun & Bradstreet Stationary of LC (LCAF, IMP, LC application, Agreement form etc) 1.20 Foreign C orrespondence Charges INLAND L/C 2.1 ILC Opening commission under Cash (sight) 2.2 ILC Opening commission under DP 2.3 Advising of ILC @ 0.50% @ 0.30% BDT 500 BDT 500 2.4 Reimbursement of ILC BDT 500 2.5 Amendment communication charges of ILC 2.6 Amendment of ILC value or Extension of time 2.7 Negotiation / collection & checking of documents under ILC (where these charges are recovered, reimbursement charges are to be waived) EXPORT 3.1 Negotiation/Collection of Export bills in Foreign currency (FDBP/FDBC) Negotiation of export bills in foreign currency on behalf of other bank or financial company NOT applicable for our own clients Local documentary bills for collection against L/C under LDBC /LFDBC (for scrutiny, processing, & examination of documents) Local documentary bills purchased against L/C under LDBP (for scrutiny, processing, & examination of documents) 3.2 3.3 3.4 3.5 Local documentary bills purchased against L/C under LFDBP (for scrutiny, processing, & examination of documents) 3.6 3.7 For inward documentary bills for collection under grant (without L/C ) Advising Charges 3.7.1 Original L/C (export L/C ) to the local beneficiary 3.7.2 Amendments 3.7.3 Pre-advising of Export L/C 3.8 Export L/C transfer Charges 3.8.1 Original L/C 3.8.2 Amendments 3.8.3 SWIFT communication, if any 3.9 Adding of confirmation to export L/C by our Bank at the request of Foreign Bank Foreign Bank's Guarantee commission against Discrepant Bills 3.10 Discrepancy Fee SWIFT charge Mail charge Discrepancy Fee SWIFT charge Mail charge on the landed cost Minimum C harges of D&B Processing fee Per set USD 50 USD 50 USD 30 USD 30 USD 20 USD 10 @ 0.15% BDT 750 At actual BDT 100 BDT 500 Foreign Local At actual No C harges st quarter Rest quarters & part thereof Minimum st quarter Rest quarters & part thereof Minimum By SWIFT By Mail By C ourier @ 0.40% @ 0.30% BDT 500 commission BDT 750 At actual At actual As same as ILC opening C ommission / C harge Rate @ 0.10% C ommission @ 0.15% C ommission Minimum C ommission Minimum Maximum C ommission Minimum Maximum C ommission Minimum Maximum C ommission Minimum @ 0.15% BDT 500 @ 0.15% BDT 750 BDT 2000 @ 0.15% BDT 750 BDT 1000 @ 0.15% BDT 750 BDT 1000 @ 0.15% BDT 250 Foreign Local Foreign Local BDT 750 BDT 500 BDT 750 BDT 500 BDT 500 BDT 300 Foreign Local Foreign Local BDT 750 BDT 500 BDT 750 BDT 500 BDT 1000 C ommission per quarter Minimum @ 0.25% USD 50 At actual x SL No Item Period / Value Rate 3.11 C ollecting Bank's Charges abroad At actual 3.12 Mailing of Export documents 3.12.1 By Mail/ C ourier At actual 3.13 Issuance of Proceed Realization Certificate (PRC) against Export BDT 500 Bill 3.14 Issuance of EXP BDT 250 3.15 Issuance of C &F C ertificate BDT 500 3.16 Issuance of BTB L/C C ertificate BDT 500 3.17 Export document processing under FDBC/FDBP (for scrutiny, Foreign BDT 500 processing, & examination of documents) FOREIGN BANK GUARANTEE 4.1 Advising of the Guarantees to the beneficiary in original without BDT 500 any engagement on our part 4.2 4.3 Advising of Guarantee in original by adding our confirmation Per quarter @ 0.25% Minimum USD 30 Advising of Guarantee (Performance) in our own format or on the Per quarter @ 0.15 ~ 0.40% format supplied by the opening Bank with our full engagement Minimum USD 100 Advising of Guarantee (Bid Bond) in our own format or on the Per quarter @ 0.15% format supplied by the opening Bank with our full engagement Minimum USD 100 against counter guarantee of 4.4 against counter guarantee of 4.5 st st class foreign Bank class foreign Bank Indemnity for shipping guarantee in absence of original documents No charge (Provided 100% value of document plus 2% as exchange fluctuation risk & F Bank charges (if any) is to be deposited by the client) FOREIGN REMITTANCE 5.1 Issuance of Foreign Currency Draft/Counter Draft 5.1.1 Drawn on Bangladesh Bank from FC A/C Issuance C harge USD 10 5.1.2 Drawn on Bangladesh Bank from other than FC A/C (except wage Issuance C harge USD 10 Issuance C harge USD 10 F Bank C harges USD 15 Issuance C harge USD 15 F Bank C harges USD 15 Issuance C harge USD 10 F Bank C harges USD 25 than reimbursing bank Third Bank Charge USD 25 TT in foreign currency through foreign correspondent from other Issuance C harge USD 15 than FC A/C F Bank C harges USD 25 In case the fund transfer involves a intermediatory bank other Third Bank Charge USD 25 Exchange Rate TT & OD C ommission @ 1.30% earners) 5.1.3 5.1.4 Drawn on Foreign Bank from FC A/C Drawn on Foreign Bank from other than FC A/C 5.2 Remittance by TT 5.2.1 TT in foreign currency through foreign correspondent from FC A/C In case the fund transfer involves a intermediatory bank other 5.2.2 than reimbursing bank 5.3 Passport endorsement 5.3.1 By issuance of TC xi 5.3.2 By issuance of Cash Foreign Currency Endorsement Fee BDT 250 Exchange Rate BC Selling Endorsement Fee BDT 250 5.4 C ancellation of FDD Processing fee BDT 300 5.5 Issuance of Duplicate FDD Processing fee BDT 500 5.6 C ollection of FC draft/cheques under LBC/FBC C ommission @ 0.15% Minimum BDT 250 Postage At actual C ommission @ 0.15% Minimum BDT 250 Postage At actual Exchange Rate OD Transfer Overdue Interest Lending rate 5.7 Purchase of FC drafts/cheques under LBP/FBP OTHERS 6.1 Application / confirmation of Test (Applicable for other Banks only BDT 750 and our Bank reserves the right to refuse such service to other Banks) 6.2 C redit information on Local Firm / C ompanies 6.3 If the charges (confirmation, amendment etc)/ commission are on Per instance USD 125 At actual Beneficiary's account and the charges are not paid by them, the charges / commission are to be realized from the applicant as per Article 13(b) iv, ci of UC P600 SL No 6.4 Item Period / Value Processing fee for cash subsidy, cash incentive & duty draw back Rate BDT 500 for export 6.5 Processing fee for obtaining Bangladesh bank approval / First time BDT 2000 permission (indenting, Buying house, freight forwarders agent Additional of each principal BDT 1000 etc.) Renewal Charges BDT 1000 6.6 C losing Charges of FC / RFCD / Exporter’s retention quota A/C BDT 500 6.7 Opening of Student file in Foreign Currency BDT 3000 6.8 Payment of Taka Draft / TT issued under Taka drawing No C harges arrangement (wage earners remittance) 6.9 Transaction by Nominee / Account holder in FC Accounts No C harges N B These C harges/ Commissions/ Rates are exclusive of Government duty /Tax/ Vat, if any, shall be recovered in addition where applicable C harges will be the equivalent of that currency in the case of transaction in other than US Dollar F Bank charges and/or Third Bank Charge recoverable on the item 5.1.3, 5.1.4, 5.2.1 and 5.2.2 should be transfer to ID HO along with the principal amount of the respective transaction vide ETC A HOSSAIN AKHTAR CHOWDHURY VICE PRESIDENT ABDUS SOBHAN KHAN SENIOR VICE PRESIDENT xii Questionnaire on Foreign Exchange activities of National Bank Ltd This questionnaire is a part of my Internship project The main objective of this questionnaire is to know the basic operational activities of FX of this renowned organization The information obtained will be used for research purpose only Instruction There are 27 questions in this questionnaire Please read the questions carefully before answering them You can skip any question if it seems sensitive and may breach rules if the information is provided QUESTIONNAIRE How many branches does National Bank have? i) 150-175 ii) 176-200 [Comment: _ ] iii) 201-225 iv) 225+ Which division is comparatively strong? i) General Banking Section ii) Loan & Advance iii) Foreign Exchange iv) All and sundry On which sector does Foreign Exchange Division focus more? i) Import ii) Export iii) Remittance iv) All and sundry With how many organizations does your department deal (considering Mirpur Branch)? i) 10 ii) 15 iii) 20 iv) 25 Do you have any individual customer other than organization? i) Yes [ specify the number of them if yes ] ii) No What is your charge on Import-Export goods? ▪ 0.20% ▪ 0.25% ▪ 0.30% ▪ 0.35% ▪ 0.40% [Comment (if necessary): ] Md Mohiuddin Khan/Department of Management Studies,JU/ ID: 1806 xiii Is L/C opened for Import is different from Export`s? i) Yes ii) No On what type of product does your bank charge more? i) Electronic items/Machines [ Specify if any other: _See charge rate sheet ] ii) Cosmetics iii) Medicine/Pharmaceutical iv) Furniture With how many countries you have business connection? ▪ 50-75 ▪ 75-100 ▪ 100-125 ▪ 125-150 10 What proportion of your firm’s total purchases or sales expenses comes from overseas (foreign sales expenses to total expenses)? None Less than 10% 10% - 25% 25% - 50% Greater than 50% 10 How many days it take to open an Import L/C? i) day ii) days iii) days iv) More than days 11 Does your Bank charge rate for Import item(s) is different from Export Item(s)? i) Yes [ please mention the rate if yes ] ii) No 12 Does your organization have any foreign exchange risk management policy? i) Yes ii) No 13 How frequently you revise your firm’s foreign exchange risk management policy? i) Monthly ii) Quarterly iii) Annually iv) Other (Please specify) _ 14 From which one your organization earns more? i) Import ii) Export iii) Remittance 15 What`s the name of the software that is used in FX transaction? _ 16 Which sector is riskiest in your opinion? i) GB section iv) All and sundry ii) Loan & Advance iii) Foreign Exchange Md Mohiuddin Khan/Department of Management Studies,JU/ ID: 1806 xiv 17 What`s your opinion toward your organization`s FX division? Very Weak I .Very Strong 18 You have to be careful during your whole working hour to avoid risk i) Strongly disagree iv) Agree ii) Disagree v) Strongly agree iii) Neither agree nor disagree 19 What`s the current rate of dollar (approximately) in taka? i) 82-82.99 ii) 83-83.99 iii) 84-84.99 iv) 85-85.99 20 If current rate is BDT 83.75, your organization consider it as i) BDT 83.75 ii) BDT 84 21 If dollar`s rate increases in the next day of any contract, NBL will charge i) Pre estimated rate ii) New rate 22 How many days NBL takes to settle the transactions when Import-Export process is executed? i) day ii) days iii) days iv) days 23 Do you have to contact with the exporter (if importer is your customer) for any reason? i) Yes ii) No 24 If Exporter`s bank is in Europe, you send the payment in i) Dollar iii) Euro 25 How much foreign currency notes can I take while traveling abroad? i) $100-200 ii) $200-300 [Note: ] iii) $300-400 iv) Under consideration 26 Stamps are used in Foreign Exchange transactions Stamps value in this case is i) Taka 10 ii) Taka 50 iii) Taka 100 iv) Depends on type of transaction [ Specify please; _] 27 Charge on outward remittance isi) 0.10% Comment if other: ii) 0.15% iii) 0.20% iv) 0.25% ……………………………………………… Md Mohiuddin Khan/Department of Management Studies,JU/ ID: 1806 xv