Report on Prime Bank

CHAPTER-SIX SERVICES OFFERED BY FOREIGN EXCHANGE DIVISION 5.1 Meaning of abroad Exchange Foreign Exchange centre exchange opposed specie betwixt two countries. If we consider Foreign Exchange as a subject, then it means all tolerant of trans executionions colligate to foreign currency. In other wards foreign exchange deals with foreign financial transactions. H.E. Evitt defined Foreign Exchange as the means and methods by which rights to wealth expressed in terms of the currency of one country are converted into rights to wealth in terms of the currency of another country 5.2-Activities of foreign exchange: thither are three kinds of foreign exchange transactions: Import. Export. Remittance. 5.3 local anesthetic Regulations for foreign exchange. Foreign exchange transactions are being controlled by the following rules & regulations: ? Foreign Exchange regulation act 1947. ? Bangladesh Bank issues foreign exchange circular from sentence to time to control the merchandise, spell & remittance business. ? Ministries of commerce issues export & import policy giving basic formalities for import & export business. ? Sometime CCI&E issues public notice for any kind of change in foreign exchange transaction. ? Bangladesh bank publish two volumes in 1996.

This is compilation of the instructions to be followed by the authorized dealers in transitions related to foreign exchange. 5.4 Parties involved in Documentary Credit: The parties are: ? The event Bank, ? The Confirming Bank, if any, and ? The Beneficiary. ? The Applicant, ? The Advising Bank, ? The nominated Paying/ Accepting Bank, and ? The Transferring Bank, if any. i. Importer Buyer Who applies for opening the L/C. ii. Issuing Bank It is the bank which opens/issues a L/C on behalf of... If you want to get a full essay, order it on our website: Orderessay

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