Foreign Exchange Operation of Sonali Bank PLC.

Abstract

Sonali Bank Ltd. is a reputable bank in our nation. The banking industry in Bangladesh has been expanding and growing its number of branches. The 57 banks that operate in the financial markets provide a vital service to both the general public and the government.to understand the true performance of commercial banks. No nation can function independently without engaging in any kind of international relations. The primary cause of this is that no nation is self-sufficient in all that it needs to offer its citizens. It is possible for one nation to create more of some goods than it requires. In light of the circumstances, it is more than required to export the commodity to a different nation in order to satisfy the demand for it, and vice versa. And as a result of this circumstance, there is international trade, which is conducted according to certain protocols. Despite the fact that everyone in the globalization period is somewhat involved in international trade, nobody is entirely aware of the ins and outs of these processes. This study aims to provide an overview of import-export procedures, with a focus on foreign remittances from the local office perspective of Sonali Bank Limited. Nearly all of the study is descriptive. This study provides an overview of the protocols and documentation that Sonali Bank Limited follows while managing international trade, including import and export as well as international remittances. A vast amount of secondary material, including manuals, annual reports, bank parikrama, and other papers, were used in the study's execution. It is stated here that no written or organized questionnaire was employed for the intended purpose