Financial_performance_of_Al-Arafah_Islam.doc - Chapter 1 Introduction 1 1.1 Acronyms Abbreviation AIBL – Al Arafah Islami Bank AVP Assistant Vice

Financial_performance_of_Al-Arafah_Islam.doc - Chapter 1...

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Chapter 1 I ntroduction 1
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1.1 Acronyms & Abbreviation AIBL – Al- Arafah Islami Bank AVP - Assistant Vice President : Assistant Vice President H.B.I.S - House Building Investment Scheme HPSM- Hire Purchase under Shirkatul Melk L/C - Letter of Credit S.H.B.I.S- Staff House Building Investment Scheme S.H.D.S - Staff Household Durable Scheme SWIFT – Society for Worldwide Inter bank Financial Telecommunication TIN- Tax Identification Number IDB - Islamic Development Bank CSR- Customer Social Responsibility HRM- Human Resource Management CSR- Corporate Social Responsibility 1.2 Background of the Study The internship program is full credit subject of the BBA program of SBPGC , which construct a relation between the real life state of affairs and theoretical concepts. I am a student of Business Administration of BBA program prefers to prepare a report on banking sector rather than other financial institution. I am assigned an internship report by the School of Business dated --This internship report is a part of my BBA program that performed by me as a student of SBPGC. In a formal way, I select the banking sector and my supervisor offered me prepare the report on title as “Assessment of Investment Practices of Al- Arafah Islami Bank Ltd.”. Investment is done under deferent modes of investment and before investment some objective and principles are to follow. Investment practice consists of some stage Selection of the client, Application stage, Processing and appraisal, Sanctioning stage, Documentation stage, Disbursement stage, Monitoring & Recovery stage. 1.3 Scope of the Study All business concern earns a profit through selling either a product or a service. A bank does not produce any tangible product to sell but does offer a variety of financial services to its customers. 2
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In the modern society commercial Banks occupy a position of economic importance. They play a significant role to meet the needs of the society such as capital formation, large-scale production, industrialization, growth of trade and economy etc. Islamic banks are unconditional and specialized financial institutions that perform most of the standard banking services and investment activities on the basis of profit and loss sharing system conforming to the principles of Islamic Shariah. Out of 50 banking institutions, 7 banks are backed by Islamic mechanism and worldwide accepted Islamic morality and established code of conduct. This paper, however attempts to appraise performance and dictate the Investment sector of Al-Arafah Islami Bank Limited performing beneath the umbrella of Islamic shariah and approved welfare oriented principles. Investment is the main part of a bank and has an important role to play in the financial sector of Bangladesh. So, I choose this topic to get practical knowledge and to check whether the theoretical knowledge competence with practical knowledge.
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