thanx marina......i just need ur prayers.....just remember me in ur prayers...Allah bless u also that u start this thread and it is opportunity for me to discuss some lil bit knowledge.....thanx once againI think adnan bro is right.....i m not really sure about this......but as i observe there are some export of goods through bank where i do internship......where i fill the forms which is called e-form known as something i think export forms....where the mostly mode of payment is in $ and euro....but as adnan bro said bank not deal in dihrm or other curreny....may b he is right becoz mostly there is also exchane companies there......as i know Dollar East or Dollar exchange company....where i think mostly curriences are exchanged.....which i think that if any one want to go dubai or sudia arabia....then he can exchange Pakistani rupee in dirhm......but i m not sure.....may b banks also do this....if any 1 do job in bank then he/she explain u more rightly...i think ur answer is more clear from here....C. TRADE DEPARTMENT (Foreign Exchange):
The term foreign exchange denotes either a foreign currency or rate at which one currency is converted into another currency or the means and the payments by which one currency is exchanged for another. There are different methods which are adopted to make international payments through the banking system. These are:
1. Bill of Exchange:
A bill of exchange is the main and most effective method of transferring money to parties located in different countries. The creditors order the debtor to pay a particular amount to payee.
2. Foreign Bank Draft:
It is a simple method of international cash payment. The foreign bank draft is an order drawn by a bank on its foreign branch or correspondent to pay specific sum of money on demand to bearer or to the person designated by purchaser of the draft.
3. Mail Transfer (MT):
The payment can also be made in other countries by mail transfer. Here the selling office of the bank sends instructions in writing by mail to the paying bank for the payment of a specified amount of money. The payment is made by debiting to the buyers account.
4. Telegraphic Transfer (TT):
TT is a quick method of making international payments. It is an order by telegram to bank to pay a specified sum of money to a specified person. But this transfer is more costly as compared to other means. 15
5. Letter of Credit:
A letter of credit is a document issued by the importers bank to exporter authorizing him to draw drafts on the bank payable on demand on the specified terms and conditions. It is very important and useful instrument of international trade.
it is just some information which i have collected from the book.....which i also think that mostly banks deals in this......otherwise during my internship i just fill the i-forms(import forms) and e-forms (export forms) where there is lil bit info which i filled and share here......otherwise i have no idea of this department...
On 8 September 2011 15:09, Marina Khan <damsel.khan@googlemail.com> wrote:
@Nida you are simply great dearryy .....splendid job!! ...really appreciated the way you shared all information God give you ajjar and give you success in every step of your life!!! jazakallah@ Husnain .....bro thanks allot for being a part of this discussion ...appreciated allot! today m giving you the name " king of vuZs" ....=pNow, u both guyz ...please tell me something about Foreign exchange department .....what you analysed in this department during your internship!@Nida you read what @Mr: Adnan sarwar said ...... banks only deal with USD, EURO and GBP...What you say?--
On Thu, Sep 8, 2011 at 11:22 AM, Nida <mc090405212@vu.edu.pk> wrote:
u welcome marina......In accounts opening department there is form for account opening and then there is KYC form which is called the Know your Customers..... In accounts opening Form there are different heads where there is detail of which type account customer want to open i-e1. saving A/c...............(profit only)2.Current A/c.............(where there is no profit no loss)3.profit & Loss A/c.........(where there may b profit & loss also)4. BBA A/c (basic banking A/c) etc.......(not sure about this ....i think it contain some terms and conditions of the banks)then there is a intial deposit which the customer should submit .....some years before there is a limit for all the accounts which start from the 5000 rupees......but now the SBP have change the limit .....now the customer can open his account with the initial deposit of Rs. 500....Then there is different types of A/c openend by the customer....i-e1. Individual A/c...........Requirement(· CNIC.
· Source of income (salary slip of the employee).
· NTN certificate (optional)
· Company letterhead or authorization.
1.Properitorship A/c........Requirement· CNIC.
· Letter head.
· Proprietorship letter.
· Proprietorship stamp.
· NTN certificate (optional).
2. Partnership A/c........Requirement· Partners CNIC.
· Partnership Deed.
· Company letterhead.
· NTN certificate.
3.Company A/c........Requirement· Memorandum of Association.
· Articles of Association. 1
· Companyletterhead.
· NTN certificate.
· Stamps.
4.Joint A/c etcThese are the basic requirement in the account opening deparment but there is also a photo A/c where the customer is illiterate or did not know who to sign .....then the thumb impression of the customer is required and in that case the photo of the customer is compulsory and in the presence of that customer only.. amount is given to that customer, no one else can take the amount from the bank as a beneficiery instead of that photo A/c customer....There is also a requirement in the form which is called Next Of Kin....where the copy of Cnic of the customer family anyone who introduce the customer i-e( Brother, Sister, wife , husband or any one esle) CNIC copy is also complusory.............There are also tooo many requirements in the form.............i m just giving the lil bit intro of the A/c opening department..............................If i m wrong anywhere plz correct me....Thanx Adnan and Hasnian bro for giving the information and also correcting me..........On 7 September 2011 15:37, Marina Khan <damsel.khan@googlemail.com> wrote:
Nida.....really appreciated thanks allot!
ok tell me please somthing more about account opening procedure because i never know bout this departmentswhat are the important terms used in this department ?i'll greatly thankfully to you dear =)--On Wed, Sep 7, 2011 at 3:32 PM, Marina Khan <damsel.khan@googlemail.com> wrote:
yes...
On Wed, Sep 7, 2011 at 1:10 PM, Muskaan <intoxicationofspark@gmail.com> wrote:
AOA
PLz tell me k me ne jis department me kam kiya hai Slides me Just unk name show karon ya phir Working b?
On Wed, Sep 7, 2011 at 1:38 AM, Marina Khan <damsel.khan@googlemail.com> wrote:--Lets collect Answerswho want to give answer? (a single answer)
--
- explain me the inward clearning and outward clearing
- what is "Next of Kin". what type of accounts there in NBP and what type of people open their accounts in NBP.
- can you explain the purpose of leverage ratio?
- what should be the normal currant ratio?
- what is the purpose of activity ratio?
- can you explain the difference between dupoint ratio and debt ratio
- what the work which you perfrom in the finance and accounting departmetn ofointernee organizaion
- pllzzz tels the any one strong strength, oppurtunity, threats or weakness of the relevent organizaion?
- any recomendation which you want to give your organizaion?
- only finace department related recomendation which you want to say?
- have any software which is use in Accounting and finance department of your organization?
Marina Khan
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