Chapter - 01: Intern Report On Evaluation of Job Satisfication of Social Islami Bank Limited

INTERN REPORT ON EVALUATION OF JOB SATISFICATION OF SOCIAL ISLAMI BANK LIMITED
CHAPTER 01
INTRODUCTION
Chapter Overview
Introduction
Origin of the Report
Objectives
Methodology of Data Collection
Limitation of the Study
1.0 Introduction:
With the opening up of the economy of Bangladesh, a dramatic change has been
observed both in manufacturing and in service sectors. This has brought higher
employment opportunities, increases in income level, and changes in consumption
pattern and consequently there emerges a competitive environment in the country.
Specifically, the expansion of banking business, along with customized services, has
created a severe implied competition in this sector. This competition has made the
service gap wider as private banks offer better services to their internal and external
customers. The scenario has created an urge to the bank policy makers to identify the
underlying reasons and brought them into consideration the job satisfaction issue. It
will investigate that officer of Social Islami Bank Limited play the key role in
manipulating their services through implementing policy.
1.1 Statement of the Problem:

Job satisfaction is the reaction of the workers against the role they play in their work.
The studies will designee to investigate the level of achievement of Evaluation Job
Satisfaction of Social Islami Bank Limited.
1.2 Rationale of the Study:

Todays business world is dynamic and competitive therefore organizations looking for
talent, extrovert graduates who belong to high degree of adaptability quality. Todays
business graduates will be the core part of business organization. So business graduates
need to have both theoretical & practical knowledge to manage the business activity
properly. In order to be familiar with organizational culture and to gain some practical
knowledge about an organization our Department provides Eight to twelve week
internship program as a part of the BBA program. After completion of the program
period a student must submit the report on the assigned topic to the Supervisor and the
department. This program carries three (3) credit hours out of 126 credit hours of the
BBA program.
1.3 Background of the Report:

I was assigned in Social Islami Bank Limited through my Internship supervisor.
I was selecting Bangladesh Social Islami Bank Limited to perform my internship
program as my honorable supervisor inspired me. I thought SIBL being the
prime development financing institution continued its effort to make an effective

contribution towards expansion of industrialization process of Bangladesh. It
seems to me that in SIBL there is a sufficient opportunity to gain practical
knowledge about the activities of a bank. The working environment is good and
the employees are very much cooperative to provide practical knowledge about
different functions of the bank. I selected a topic named "Job Satisfaction of
Social Islami Bank Limited" On the basis of this topic I have prepare my
Internship Report.
1.4 Objective of the Report:

1.4.1: Broad Objective:
The attitudes regarding job satisfaction are broadly related to the areas of intrinsic
nature of work, wage and security, supervision, and company policies and practices.
The broad objective of the study is descriptive analysis that employee satisfaction of
Social Islami Bank Limited.
1.4.2 Specific Objective:
The Specific objective of the study is findings the results from the balancing and
summation of many specific likes and dislikes of employees experienced in connection
with their jobs. The present study deals with the two issues to analyze the job
satisfaction of bank officers of the SIBL in. The issues are:
The relative importance of job satisfaction factors.
The impact of bank type, work experience, age and sex differences on the
attitudes toward job satisfaction.
1.5 Scope of the Report:

Since I have worked in the Social Islami Bank Limited, Rampura Branch, I get the
opportunity to gain knowledge of different part of banking system. The supervisor
divided into the whole banking in three parts. As a result I got the opportunity to work
in all three divisions (investment division, general banking division, foreign exchange
division). And from these three different departments or divisions, I hope that I will be
capable of doing these types of jobs in the future. Moreover, as I am a HR student so
my supervisor helps me to communicate with HR Department.
1.7 Methodology:
1.7.1 Sources of Data Collection:
1.7.1.1 Primary Sources:
Primary data will be collecting by different sources.
Observation of banking activities.
Face to face Interviews.
Employee survey data were gathering by analyzing responses to questionnaire.
Experiences gained during performing duties for General Banking department
and HR department.
Discussion with officers of Social Islami Bank Limited.
1.7.1.2 Secondary Sources:
Annual reports of Social Islami Bank Limited.
Various documents from General Banking department.
Different websites, books.
Internal Records.
1.6 Limitation:
On the way of my study in Social Islami Bank Limited, I faced the following problems,
which may be termed as the limitations of the study. The major limitations of this study
are given as follows:
There were some restrictions to have access to the information confidential by
concern authority.
Sufficient records, publications regarding customer service were not available
as per requirement.
Three-month is not sufficient time to gain practical knowledge and prepare a
report.
The employees of the bank are so much busy so they cannot provide me to give
information.
I have no proper experience to do this kind of report. So, inexperience creates
obstacle to follow the systematic and logical research methodology.
CHAPTER - 02
BANKING SECTOR IN BANGLADESH
Chapter Overview
Definition of Bank
Objective of Bank
Historical Background of the Bank
Banking Operations in Bangladesh
2.1 Definition of Bank:

A bank is a financial institution and a financial intermediary that accepts deposits and
channels those deposits into lending activities, either directly or through capital
markets. A bank connects customers that have capital deficits to customers with capital
surpluses.
The word bank was borrowed in Middle English from Middle French banque, from Old
Italian banca, from Old High German banc, bank "bench, counter". Benches were used
as desks or exchange counters during the Renaissance by Florentine bankers, who used
to make their transactions atop desks covered by green tablecloths. Due to their critical
status within the financial system and the economy generally, banks are highly
regulated in most countries. Most banks operate under a system known as fractional
reserve banking where they hold only a small reserve of the funds deposited and lend
out the rest for profit. They are generally subject to minimum capital requirements
which are based on an international set of capital standards, known as the Accords.
Banking business" means the business of receiving money on current or deposit
account, paying and collecting cheques drawn by or paid in by customers, the making
of advances to customers, and includes such other business as the Authority may
prescribe for the purposes of this Act receiving from the general public money on
current, deposit, savings or other similar account repayable on demand or within less
than [3 months] ... or with a period of call or notice of less than that period; paying or
collecting checks drawn by or paid in by customers.
2.2 Objective of Bank:

People have traditionally used banks as a way to safeguard those things most important
to them. Not only were banks used to save deposits and withdraw money, they were
also used for loans, document safety deposits, and financial consulting. Today there are
a variety of banks that serve different purposes.
In order to understand the main objective of a bank, it is important to know what a
commercial bank is. Unlike a traditional bank, a commercial bank is a financial
institution that provides services primarily from one business to another. Commercial
bank activities are different than investment or traditional banks in that commercial
banks act as intermediaries between an issuer of security and the investing public,
facilitating mergers and other corporate reorganization, acting as a broker for

institutional clients, and underwriting for commercial acquisition. The main objective
of a commercial bank is to maintain making money, and they do so in a variety of
ways. One way is to keep money moving, from person to person, business to business.
Some banking institutions associated with credit unions, schools or other entities may
not make their primary objective clear. However, commercial banks clearly articulate
their main objective as profitability.
A commercial bank having lucrative assets positively affects the community its in, as
well as having far reaching positive outcomes. As businesses thrive and grow, more
people are employed, more money is spent in the marketplace, and the cycle of
generating money repeats to keep the economy afloat. The main objective of
commercial banks is to maintain higher profitability by maintaining circular and
efficient flow of amount of money deposited by the customers and the lenders.
Commercial banks contribute to the economic cycle by keeping the money circulation
among households, government and corporate businesses. The commercial banks lend
money to the economic agents through their various products and services by earning
interest income on the borrowed money. Commercial banks design their short term and
long term loans and other products to cater to the need of customers while enhancing
their own returns. Their objective is to attract more customers and build profitable
relationships with the new and existing customers. Also the main objective of a
commercial bank is to provide high standard facilities for transfer of funds, financing
the business operations and purchase of households, security and adequate return on
savings and earns income from these activities to provide optimum return to its
shareholders
2.3 Historical Background of the Bank:

The history of banking began around 1870, according to most historians Banking in the
modern sense of the word can be traced to medieval and early Renaissance Italy, to the
rich cities in the north like Florence, Venice and Genoa. The Bardi and Peruzzi families
dominated banking in 14th century Florence, establishing branches in many other parts
of Europe. Perhaps the most famous Italian bank was the Medici bank, set up by
Giovanni Medici in 1397. The earliest known state deposit bank, Banco di San Giorgio
(Bank of St. George), was founded in 1407 at Genoa, Italy.
The first banks were the merchants of the ancient world that made loans to farmers and
traders that carried goods between cities. The first records of such activity dates back to
around 2000 BC in Assyria and Babylonia. Later, in ancient Greece and during the
Roman Empire, lenders who were based in temples made loans but also added two
important innovations: accepting deposits and changing money. During this period,
there is similar evidence of the independent development of lending of money in
ancient China and separately in ancient India. In ancient China starting in the Qin
Dynasty (221 to 206 BC) the Chinese currency developed with the introduction of
standardized coins which allowed the much easier trade across China and led to the
development of letters of credit. These letters were issued by merchants that acted in
ways that today we would understand as banks. The development of banking spread
through Europe and a number of important innovations took place in Amsterdam
during the Dutch Republic in the 16th century and in London in the 17th century.
During the 20th century, developments in telecommunications and computing resulting
in major changes to the way banks operated and allowed them to dramatically increase
in size and geographic spread. The Late-2000s financial crisis saw significant number
of bank failures, including some of the world's largest banks, and much debate about
bank regulation. The history of banking is closely related to the history of money but
banking transactions probably predate the invention of money. Deposits initially
consisted of grain and later other goods including cattle, agricultural implements, and
eventually precious metals such as gold, in the form of easy-to-carry compressed
plates. Temples and palaces were the safest places to store gold as they were constantly
attended and well built. As sacred places, temples presented an extra deterrent to
would-be thieves.
2.4 Banking Operations in Bangladesh:

After the liberation war, and the eventual independence of Bangladesh, the Government
of Bangladesh reorganized the Dhaka branch of the State Bank of Pakistan as the
central bank of the country, and named it Bangladesh Bank. This reorganization was
done pursuant to Bangladesh Bank Order, 1972, and the Bangladesh Bank came into
existence with retrospective effect from 16 December 1971. The 1971 Mujib regime
ran a pro-socialist agenda in 1972, the government decided to nationalize all banks in
order to channel funds to the public sector and to prioritize credit to those sectors that
sought to reconstruct the war-torn country mainly industries and agricultural sectors.
However, government control at the wrong sectors prevented these banks from
functioning well. This was compounded by the fact that loans were handed out to the
public sector without commercial considerations, that banks had poor capital lease,
provided poor customer services and didnt have any market-based monetary
instruments. But mostly, because loans were given out without commercial sense, and
because they took a long time to call a loan non-performing, and once they did so,
recovery under the erstwhile judicial system was so abjectly expensive, and their loan
recovery was abysmally poor. While the government made a point of intervening
everywhere, it didnt set up a proper regulatory system that would diagnose such
problems and correct them. Hence, banking concepts like profitability and liquidity was
alien to bank managers, and capital adequacy Took backseat. In 1982, the first reform
program was initiated, where the government denationalized two of the six nationalized
commercial banks and permitted local private banks to create competition in the
banking sector. In 1986, a National Commission on Money, Banking and Credit was
appointed to recover the problems of the banking sector and a number of steps were
taken for the recovery targets for the nationalized commercial banks and development
financial institutions and prohibiting defaulters from getting new loans, yet, the
efficiency of the banking sectors could not be improved. Virtually all banking services
were concentrated in urban areas. The newly independent government immediately
designated the Dhaka branch of the State Bank of Pakistan as the central bank and
renamed it the Bangladesh Bank. The bank was responsible for regulating currency,
controlling credit and monetary policy, and administering exchange control and the
official foreign exchange reserves. The Bangladesh government initially nationalized
the entire domestic banking system and proceeded to reorganize and rename the various
banks. Foreign-owned banks were permitted to continue doing business in Bangladesh.
The government's encouragement during the late 1970s and early 1980s of agricultural
development and private industry brought changes in lending strategies. Managed by
the Bangladesh Krishi Bank, a specialized agricultural banking institution, lending to
farmers and fishermen dramatically expanded. The number of rural bank branches
doubled between 1977 and 1984, to more than 3,330. Denationalization and private
industrial growth led the Bangladesh Bank and the World Bank to focus their lending
on the emerging private manufacturing sector. Scheduled bank advances to private
agriculture, as a percentage of sectoral GDP, rose from 2 percent in FY 1979 to 11
percent in FY 1987, while advances to private manufacturing rose from 13 percent to

43 percent.
2.4.1 List of Banks in Bangladesh:
The commercial banking system dominates Bangladesh's financial sector. Bangladesh
Bank is the Central Bank of Bangladesh and the chief regulatory authority in the sector.
The banking system is composed of four state-owned commercial banks, five
specialized development banks, thirty private commercial Banks and nine foreign
commercial banks. The Nobel-prize winning Grameen Bank is a specialized microfinance institution, which revolutionized the concept of micro-credit and contributed
greatly towards poverty reduction and the empowerment of women in Bangladesh.
2.4.2 Bangladesh Bank:
Pursuant to Bangladesh Bank Order, 1972 the Government of Bangladesh reorganized
the Dhaka branch of the State Bank of Pakistan as the central bank of the country, and
named it Bangladesh Bank with retrospective effect from 16 December 1971.
2.4.3 Nationalized Commercial Bank of Bangladesh:
Sonali Bank
Agrani Bank
Rupali Bank
Janata Bank
2.4.4 Private Commercial Banks:
Private Banks are the highest growth sector due to the dismal performances of
government banks (above). They tend to offer better service and products.
Social Islami Bank Limited
United Commercial Bank Limited
Mutual Trust Bank Limited
BRAC Bank Limited
Eastern Bank Limited
Dutch Bangla Bank Limited
Dhaka Bank Limited
Islami Bank Bangladesh Ltd
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Uttara Bank Limited

Pubali Bank Limited
IFIC Bank Limited
National Bank Limited
The City Bank Limited
NCC Bank Limited
Prime Bank Limited
Southeast Bank Limited
Al-Arafah Islami Bank Limited
Standard Bank Limited
One Bank Limited
Exim Bank Limited
Bangladesh Commerce Bank Limited
First Security Islami Bank Limited
The Premier Bank Limited
Bank Asia Limited
Trust Bank Limited
Shahjalal Islami Bank Limited
ICB Islami Bank
AB Bank
Marcantile Bank Limited
2.4.5 Foreign Commercial Banks:
Citibank
HSBC
Standard Chartered Bank
Commercial Bank of Ceylon
State Bank of India
Habib Bank Limited
National Bank of Pakistan
Woori Bank
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Bank Alfalah
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2.4.6 Specialized Development Banks:

Out of the specialized banks, two (Bangladesh Krishi Bank and Rajshahi Krishi
Unnayan Bank) were created to meet the credit needs of the agricultural sector while
the other two Bangladesh Shilpa Bank (BSB) & Bangladesh Shilpa Rin Sangtha
(BSRS) are for extending term loans to the industrial sector. The Specialized banks are:
Karmasangsthan Bank
Bangladesh Krishi Bank
Rajshahi Krishi Unnayan Bank
Progoti Co-operative Landmortgage Bank Limited (Progoti BanK)
Grameen Bank
The Dhaka Mercantile Co-operative Bank Limited (DMCBL)
Bangladesh Development Bank Ltd
Bangladesh Somobay Bank Limited(Cooperative Bank)
Ansar VDP Unnyan Bank
BASIC Bank Limited (Bangladesh Small Industries and Commerce Bank
Limited)
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CHAPTER - 03
AN OVERVIEW
OF
SOCIAL ISLAMI BANK LIMITED
Chapter Overview
Organizational Overview
Historical Background of SIBL
Formation of Social Islami Bank
Objectives & Goals of SIBL
Vision & Mission
Strategic Objectives & Commitments
Corporate Social Responsibility (CSR)
Corporate Profile
SIBL at a Glance
Functions of SIBL
SIBL Products & Services
SWOT Analysis of SIBL
14
3.0 Organizational Overview:

Since the establishment of Social Islami Bank Limited has come forward as a private
commercial bank and very encourage has come forward as the stimulator of economic
activities in the country. The bank has been entrusted with the responsibility of
undertaking various steps related to the development of the countrys commercial,
industrial and agricultural sectors. The banking sector of a country is called the
economic barometer of the country. As a pioneer commercial bank in the private sector
in Bangladesh, Social Islami Bank provides considerable financial helps to the business
sector that imports industrial goods and/or exports excess production outside the
country for profit. Thus for imports the Social Islami Bank provides LIM (Loan against
Import Merchandise) and LTR (Loan against Trust Receipt) facility and for exports
provides both pre shipment and post shipment finances. Thus with these bank helps the
prospects in the business sector has increased more than ever before.
3.1 Historical Background of SIBL:

The SOCIAL ISLAMI BANK LTD (SIBL), a second-generation bank, operating since
22 November, 1995 based on Shariah Principles, has now 86 branches all over the
country with two subsidiary companies - SIBL Securities Ltd. & SIBL Investment Ltd.
Targeting poverty, SOCIAL ISLAMI BANK LIMITED. is indeed a concept of 21st
century participatory three sector banking model in one. in the formal sector, it works
as an Islamic participatory Commercial Bank with human face approach to credit and
banking on the profit and loss sharing: it is a Non-formal banking with informal finance
and credit package that empowers and humanizes real poor family and create local
income opportunities and discourages internal migration; it is a Development Bank
intended to monetize the voluntary sector and management of Waqf, Mosque properties
and introducing cash Waqf system for the first time in the history. In the formal
corporate sector, this Bank would, among others, offer the most up to date banking
services through opening of various types of deposit and investment accounts,
financing trade, providing letters of guarantee, opening letters of credit, collection of
bills, leasing of equipment and consumers' durable, hire purchase and installment sale
for capital goods, investment in low-cost housing and management of real estates,
participatory investment in various industrial, agricultural, transport, educational and
health projects and so on.
15
The bank has taken a renewed drive aiming at consolidating its business in more
focused areas covering SME and Agro-finance with emphasis on searching for
alternative delivery channel under which SMS banking and mobile based remittance
payment systems that are gradually introduced to disseminate the SIBL services to the
doorsteps of the customers. The bank has already introduced Internet banking and
launched some new products to strengthen its business. The products are Sonali Din,
Sommridhir Sopan, Sonchoy Protidin, Swopner Shiri, Shukher Thikana, Sabuj Chhya,
Sabuj Shayanho, Subarnolata, Subornarekha, Sanchaita etc. and Zamil ATM Debit
card. SIBL is a pioneer in introducing on-line banking among all the Islami Banks of
the country with state-of-the-art banking software, which will enable the bank to
perform as any branch real time banking service to the clients. The state-of-the-art
banking software of the bank will enable to perform as any branch real time banking
service to the clients.
SIBL is supported by core banking solutions and our products & services are strongly
backed by IT infrastructure, which are upgraded & expanded on continuous basis.
SIBL has set its strategy to convert all its banking activities from traditional branchbased banking system to an ideal blending of both centralized processing unit (CPU)
and effective operation of branch that based on modern essence of banking. The bank is
running its payment system successfully through BACPS, BEFTN under BACH in
order to boost up its businesses in multiple dimensions. Adopting BACH System as per
guidelines of Bangladesh Bank, SIBL ensures security, safety and hassle free faster
transactions from end to end. Moreover, the bank is effectively adopting regulatory
guidelines on IT risk management. SIBL is quite conscious of its social business
responsibilities and is always trying to participate in various social programs in the
country under its CSR portfolio giving special emphasis on health, habitat & education.
The bank ensures to provide better integrated idea of formal, informal & voluntary
banking in the same platform.
SIBL has its unique feature to mobilize capital through CASH WAQF program. SIBL
lays emphasis on employment generated, environment friendly and green banking
based investment keeping an eye on equitable distribution of resources over
geographical territory for sustainable growth of macro economy of the country. The
Bank's continuous effort has been to increase the shareholders' value, and be valued as
16
a compliant organization. The Corporate Governance systems in SIBL ensure

transparency and accountability at all levels in conducting business. SIBL in its journey
towards continuous excellence has changed its brand logo recently. We take pride in
our new logo.
3.2 Formation of Social Islami Bank:

The Bank was incorporated in Bangladesh in the year 1995 as a banking company
under the companies Act, 1994, all types of commercial banking services as provided
by the Bank from time to time besides as a matter of policy the Bank conducts its
Business on the principles of Mushataka, Murabaha, Bai-Muazzal and Hire Purchase
transaction approved by Bangladesh Bank.
3.3 Objectives & Goals of SIBL:

The key sectorial objectives are:
To humanize corporate finance in the formal sector through participatory
market mechanism with collateral.
To socialize non-corporate finance in the non-formal sector through non-market
and participatory custom-tailored micro-level credit package without collateral.
To monetize voluntary sector through participatory financing mainly on joint
ownership basis.
To integrate these three sectors operational activities of the Bank to various
will-conceived and well-planned Social Assignment and Investment Schemes
or Social Fund for making them economically and ethically transparent and
revealed
Overall Operational goals:
The key thrusts of the operational goals are as follows:
Empowering the family of the poor by creating income opportunities as well as
strengthening the family of the rich for a better future generation.
Achieving sustainable participatory economy, Social Security, and peace for a
society.
17
3.4 Vision & Mission of SIBL:

Our Vision:
In our journey towards continuous excellence we are striving to become the country's
leading Islamic Bank offering one-step service of an wide range of value added
products and services meeting the needs of our customers; conducting our business
ethically in accordance with the laws of Shariah while optimizing best utilization of the
most modern state-of-the-art technological solutions through creation of pro-active
organizational culture based on sound team spirit, fairness, mutual understanding and
pragmatic leadership always remaining open to new ideas and adaptable to the best
practices in the market ensuring recognition and quality banking experience to our
Customers and deliver best value to all our stakeholders as well.
Our Mission:
Transformation into a service-oriented technology-driven profit earning Bank
Ensure fast, accurate and best-in-class customer service
Balanced & sustainable growth strategy
Optimum return on shareholder's equity
Introducing innovative Islamic Banking Products
Attract and retain high quality human resources
Empowering real poor families and create local income opportunities
Providing support for social benefit organizations by way of mobilizing Funds
and social services
Our values:
Honesty: To be honest is ordained by the scripture. We stick to this value in all
our service provision.
Transparency: Remaining transparent in all acts is a virtue that's builds trust we adhere to it.
Efficiency: Efficiency implies perfection in any job done - we strive to render
full satisfaction with it.
Accountability: To be accountable is to be responsible and above any suspicion
- we are dutifully there.
Religiousness: SIBL enhances economic well-being with regard to the bliss of
religious ethics.
18
Innovation: Our minds and eyes are open to the evolution in quality of life to
innovate further benefits for the service takers.
Flexibility: Flexibility leads to better understanding and greater satisfaction we pursue the quality.
Security: Customers must feel secure with all our products and services - we
keep on ensuring it.
Technology: Modern life is technology dependent - we keep looking for the
latest development to provide the best in ease to our clients.
3.5 Strategic Objectives & Commitments:

Our Strategic Objectives:
Transformation into a service-oriented technology driven profit earning bank.
Ensure fast, accurate and best-in-class customer services with customers
satisfaction.
Balanced and sustainable growth strategy.
Optimum return on shareholders equity.
Introducing innovative Islamic Banking Products.
Attract, motivate and retain high quality human resources.
Empowering real poor families and creating local income opportunities.
Providing support for social benefit organizations.
To achieve global standards in Islamic Banking.
To invest in the priority sector for the overall economic development.
Ensure best CSR (Corporate Social Responsibilities) practices.
Ensure Green Banking.
Our Commitments:
To the Shariah
To the Regulators
To the Shareholders
To the Nation
To the Customers
To the Employees
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To the other Stakeholders

To the Environment.
3.6 Corporate Social Responsibility (CSR):

Social Islami Bank Limited is quite conscious of its social responsibility and always
trying to participate in social cause program in the country. The bank is committed to
serve the society at large through its family empowerment Micro Investment, Micro
Enterprise and SME programs under non-formal sector, social capital mobilization
through CASH WAQF and other programs under voluntary sector. The bank has
already formed CSR Desk with the aim to serve humanity through different
philanthropic activities giving emphasis on health and Education. The bank believes
that any kinds of social & philanthropic activities would improve the quality of the
lives of the poor masses of the country. The Board of Directors of the Bank consists of
winning personalities in respective area of Trade, Commerce & Industry of the country.
Under the proactive guidance, policy and direction of the Board, Management conducts
its business operations. The Corporate Governance systems in SIBL ensure
transparency and accountability at all levels in conducting business.
3.7 Corporate Profile:

Social Islami Bank Limited (SIBL) was established in the year 1995 as a public limited
company which is engaged in Shariah based commercial banking in the country and its
modus-operandi are substantially different from other conventional banks. This is the
second generation pioneer Islamic bank in this country to introduce online banking
facilities to its customers.
Name of the Company
: Social Islami Bank Limited
Legal Form
: Public Limited Company
Company Registration No
: C-28763(44)/95
Authorized Capital
: 10,00,00,00,000 Taka
Paid up Capital
: 639, 39, 25,700 Taka
Registered Office
: City Center, Level 19, 20, 21 & 22
103 Motijheel C/A, Dhaka-1000
Phone: PABX 88 02 09612001122
FAX: 88 02 9568098
Email: info@sibl-bd.com
Web: www.siblbd.com
SWIFT: SOIVBDDH
Tax Payer Identification No
: 035-200-4971
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VAT Registration No
Credit Rating Agency
Auditors
Chairman
Managing Director
Chief Financial Officer
Company Secretary
Number of Employees
Number of Branches
Number of Shareholders
Investors Enquiry
For SIBL Securities Limited
For SIBL Investment Limited
For Offshore Banking
Listing Status (Shares)
: 9011046380 Area Code: 90101

: Emerging Credit Rating Ltd.
: M/S Syful Shamsul Alam & Co.
Chartered Accountants
(A cooperative firm of UHY)
Paramount Heights (level-6)
65/2/1, Box Culvert Road
Purana Paltan, Dhaka-1000
Phone: 88 02 9555915
Email: ssac@ssacbd.com
: Md. Anisul Hoque
: Md. Shafiqur Rahman
: Walid Mahmud Sobhani, FCMA
: Md. Humayun Kabir, ACS
: 1625
: 86 (eighty six)
: 78,513
: Share Department
City Center, Level-19
103 Motijheel C/A, Dhaka-1000
Phone: PABX 88 02 09612001122
: Managing Director
(a subsidiary of SIBL) 3rd floor, 15
Dilkusha C/A, Dhaka-1000
: Managing Director
(a subsidiary of SIBL) 7th floor, 68
Dilkusha C/A, Dhaka-1000
: Off Shore Banking Unit
48 Kamal Attaturk Avenue
Banani, Dhaka-1213
Phone: PABX 88 02 09612001122
: DSE (Dhaka Stock Exchange):
Symbol: SIBL
Listing Date: 18.11.2000
CSE (Chittagong Stock Exchange):
Symbol: SIBL
Listing Date: 04.10.2005
Market Price as on 31.12.2012
21
DSE: Taka 19.40

CSE: Taka 19.30
Categories: A
Categories: A
22
3.8 SIBL at a Glance:
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3.9 Functions of SIBL:

Mobilization of idle resources of the country by accepting Deposits from the
general public.
Granting Loans and Advances to the individual firms and companies for
activating and developing trade, commerce and industries and other productive
activities in the country.
To give facilities to the client and shareholders in a systematic way.
Give encouragement to the people for savings.
To increase investment.
To make easy transfer of foreign currency.
To identify consumers demand and fulfill their demand by supplying money.
To improve economy by borrowing financial facility.
To assist capital market.
3.9.1 Management Hierarchy
CHAIRMAN
MANAGING DIRECTOR
DEPUTY MANAGING DIRECTOR
EXECUTIVE VICE PRESIDENT
SENIOR VICE PRESIDENT
VICE PRESIDENT
SENIOR ASSISTANT VICE PRESIDENT
ASSISTANT VICE PRESIDENT
FIRST ASSISTANT VICE PRESIDENT
SENIOR EXECUTIVE OFFICER
EXECUTIVE OFFICER
SENIOR OFFICER
OFFICER
JUNIOR OFFICER
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ASSISTANT OFFICER
3.10 SIBL Products & Services:

Investment Products
Deposit Products
Cards
Bai-Muazzal
Mudaraba Scheme Deposits
SIBL Credit Card
HPSM
Al Wadiah Current Account
Visa Islamic Credit Card (Dual)
HPSM- Ijara
Mudaraba Savings Deposit
Visa Islamic Credit Card (Local)
Murabaha
Mudaraba Term Deposit
SIBL Zameel Debit Card
Musharaka
Mudaraba Notice Deposit
Bill Purchase
Cash Waqf. Deposit
Bai-Salam (PC)
Quard
3.10.1 Investment Products:

Bai-Muazzal
Bai-Muajjal is a contract between Buyer and Seller under which the seller sells
certain specific goods ( permissible under Shariah and Law of the country ), to
the Buyer at an agreed fixed price payable at a certain fixed future date in lump
sum or within a fixed period by fixed installments. The seller may also sell the
goods purchased by him as per order and specification of the Buyer. In Bank's
perspective, Bai-Muajjal is treated as a contract between the Bank and the
Client under which the bank sells to the Client certain specified goods,
purchased as per order and specification of the Client at an agreed price payable
within a fixed future date in lump sum or by fixed installments.
HPSM- Hire Purchase under Shirkatul Melk
Hire Purchase (participatory ownership) mode both the Bank and the client
supply equity in equal or unequal proportion for purchase of an asset like land,
building, machinery, transport etc. Purchase the asset with that equity money,
own the same jointly; share the benefit as per agreement and bear the loss in
25
proportion to their respective equity. The share, part or portion of the asset
owned by the Bank is hired out to the client partner for a fixed rent per unit of
time for a fixed period. Lastly the Bank sells and transfers the ownership of its
share / part / portion to the client against payment of price fixed for that part
either gradually part by part or in lump sum within the hired period after the
expiry of the hire agreement.
HPSM- Ijara
The mode under which any asset owned by the bank, by creation, acquirement
or building-up is rented out is called HPSM (Ijara). In this mode, the client pays
the Bank rents at a determined rate for using the assets/properties and returns
the same to the Bank at the expiry of the agreement. The Bank retains absolute
ownership of the assets/properties in such a case. However, at the end of the
period of HPSM (Ijara), the asset may be sold to the client at an agreed price.
Murabaha
Bai-Murabaha is a contract between a Buyer and Seller under which the Seller
sells certain specific goods permissible under Islamic Shariah and Law of the
land to the Buyer at a cost plus agreed profit payable in cash on any fixed future
date in lump sum or by installments. The profit marked-up may be fixed in
lump-sum or in percentage of the cost price of the goods. In case of BaiMurabaha Banks procure the goods as per indent of the customer, retain it in its
custody and sell the same part by part or at a time to the client who gave indent
for the goods.
Musharaka
Musharaka means partnership business. Every partner has to provide more or
less equity funds in this partnership business. Both the Bank and the investment
client reserve the right to share in the management of the business. But the Bank
may opt to permit the investment client to operate the whole business. In
practice, the investment client normally conducts the business. The profit is
divided between the bank and the investment client at a predetermined ratio.
Loss, if any, is to be borne by the bank and the investment client according to
capital ratio.
Bill Purchase
26
Bill Purchase, in trade finance, allows a seller to obtain financing and receive
immediate funds in exchange for a sales document not drawn under a letter of
credit. The bank will send the sales documents to the buyers bank on behalf of
the seller.
Bai-Salam (PC)
This is export finance. Bai-Salam is a term used to define a sale in which the
buyer makes advance payment, but the delivery is delayed until sometime in the
future. Usually the seller is an individual or business and the buyer is the bank.
Quard
It is a mode to provide financial assistance/ loan with the stipulation to return
the principal amount in the future without any increase thereon.
3.10.2 Deposit Products:
Mudaraba Scheme Deposits
Kafela-Mudaraba Hajj Scheme
Proshanti-Mudaraba Zakat Savings Account
Samriddhir Sopan- Mudaraba Double Growth Deposit Scheme
Sonali Kabin- Mudaraba Mohorana Savings Scheme
Sharno Sikhor- Mudaraba Kotipoti Scheme
Suborna Diganto-Mudaraba Millionaire Scheme
Sachchondo Protidin- Mudaraba Monthly Profit Deposit Scheme
SIBL Dipti- Mudaraba Education Savings Scheme
SIBL Young Star Account
Subarnolota-Special Savings Scheme for Women
Sonali Din- Mudaraba deposit Pension Scheme
Sukher Thikana- Special Savings Scheme for lower-income group
workers.
Swapner Siri- Mudaraba Lakhopothi Deposit Scheme
Sabuj Chhaya-Special Savings Scheme for Senior Citizens
Sabuj Sayannho- Special Deposit Scheme for Senior Citizens
Sanchita-Special Deposit Scheme
27
Subarno Rekha Special Savings Scheme for Women.

Al Wadiah Current Account
ALWADIAH Current Deposit A/c is opened on proper introduction with

minimum initial deposit fixed by the Bank.
ALWADIAH Deposit is accepted on ALWADIAH principles which mean

al Amanah with permission to use. According to this principle Bank can
use the fund of the account alongwith other funds as per Shariah at bank's
own risk. Account holder(s) will not share any profit/loss.
The Law and regulation of Bangladesh, usual customs and procedures

common to banks in Bangladesh including Islamic Banking Principles
shall apply to and govern the conduct of account opened with the Bank.
Withdrawal can be made only through cheques issued by the bank.
The A/c. holder(s) shall preserve the cheque book with utmost care so that
it might not be lost or stolen. For any misappropriation taken place
through any such stolen or lost cheque, the Bank shall not be held
responsible.
The depositor shall take back the pay-in-slip after deposit of any money or
cheques etc. clearly specifying the number and title of account in the slip.
All cheques, DD/PO etc shall be crossed before deposit.
Bankers shall note "Stop payment" of the account holder with due care.
Payment of any such cheque, the Bank shall not be held responsible.
Any change in the address of the depositor should be immediately

communicated to the bank. No responsibility can be accepted by the bank
for delay, non-delivery etc. of letters, remittances etc sent through Post
office and other agents.
Bank makes entry in the account with due care. However, for any wrong
entry, the Bank reserves the right for adjustment/correction and no
responsibility can be accepted by the bank for any loss caused by the
caused by the account holder due to such inadvertent/wrong entry passed
by the Banker.
28
The Bank reserves the right to close any account without notice and alter,
add any or all of the rules and such altered/additional rules shall
immediately thereafter be deemed to be binding on the account holder.
Mudaraba Savings Deposit:

To open a Mudaraba Savings Deposit account in our Bank the following rules
and regulations are applied:
Mudaraba i.e. Deposit of one party and on the basis of operation by

another party this deposit is taken.
By providing Introducer of the account as required by the bank and by

depositing a minimum amount any depositor or multiple depositors can
open single or joint account. Any educational institute, Club, Association
or Social institutes can open this account.
The bank may merge amount collected through this deposit and may
invest in any shariah allowed investments.
After determining the annual profit/loss the depositor will get his part of
profit.
In case of balance declining below bank stipulated margin in any month

profit shall not be provided for that month.
Any amount can be deposited in any working hour but for applying profit
the lowest amount from 6th day till the last day of the month will be taken
as the deposit of that month.
Amount must be withdrawn only by bank issued instruments like cheques.
Amount can be withdrawn twice a week but highest 4 times a month. One
fourth of the deposited amount or Tk. 2000/-, the lowest can be withdrawn
without notice. If any amount exceeding the above is withdrawn without
providing 07 days prior notice then no profit will be applied for that
month.
If an account is closed before the declaration of current years profit rate

then the depositor will have to take profit as per previous years declared
profit rate.
The Bank has the right to deny opening any account or can close down
any existing with showing any reason.
29
The bank operates the client accounts with utmost attention but still if any
miscalculation occurs the bank holds the right to make adjustments and
rectify the problems. But in this situation if any miscreants occur which is
caused by the client the bank will not be hold liable for that.
The Bank may change / amend / rectify any rules and regulations of this
account and the client must abide by the rules.

The depositor by will may contribute a minimal percentage to his selected
Social Development works.

Mudaraba Term Deposit
Mudaraba Term Deposits are accepted by the bank with a sum of Tk.
5000 or above (multiple of 1000) from individuals (single and joint),
firms (proprietorship/partnership), limited companies, autonomous
bodies, charitable institutions, association, educational institution, local
bodies, trusts, etc., against issuance of non-transferable receipts in
acknowledgement of MTD account may be opened in the names of
minors jointly with their guardians, for example : Received from Mr. X
Guardian of Mister/Miss.... (Minor)
The mudaraba term deposits are accepted for periods of 12, 24, 36
months. Weightage on the rate of return is given to deposits of longer
maturity.
The Bank reserves the right to invest the funds received in mudaraba
term deposit accounts, in its sole judgement, in any interest-free "Halal"
business it deems fit.
Mudaraba term deposit account holder will share the profit of

investment with Social Islami Bank Ltd, at the rate declared by the bank
from time to time. Any loss which cannot be covered by the investment
loss offsetting reserve will be adjusted from Mudaraba fund and in that
case the bank shall not take any remuneration for the service rendered in
managing the fund.
The profit earned on Mudaraba Term Deposit account will be credited as

determined by the bank as its sole direction on the basis of its
networking results at the end of the year, within a reasonable time from
30
the dae of the close of the books of accounts of the bank. The banks
decision in this respect will be final & binding on the Mudaraba Term
depositors. If the Mudaraba Term Deposit account is closed before
declaration of profit of current year, the depositor shall accept profit at
the rate declared in the preceding year. In that case, both the bank & the
depositor will relinquish their claim on difference amount of profit,
which may accrue at the close of the year.
The account holder is not allowed to withdraw the amount before

maturity date. But on obtaining the Bank's prior consent the depositor
may withdraw the deposit before maturity without any profit i.e. no
profit a loss basis.
MTD account holder may withdraw the profit amount annually if he so

desires on condition the final adjustment. If needed, will be made at the
end of the year. MTD account holder will give an undertaking to that
effect.
If the profit amount is not withdrawn it will automatically be added to

the principal amount annually and the entire amount will earn
profit/loss.
MTDR is not transferable instrument & as such it cannot be endorsed in

favor of others.
The MTDR should be preserved properly. In case of loss, the account

holder should notify the issuing branch immediately by quickest
possible means so that the bank can take care of.
Matured deposit if not encashed within one month of maturity, the

deposit shall automatically be renewed for the period it kept before.
Any change in the address of the depositor should be immediately

communicated to the bank. No responsibility can be accepted by the
bank for delay, non-delivery etc. of letters, remittances etc. sent through
Post office and other agents.
The bank retains the right of refusing to accept any deposit from any
person in MTD account without assigning any reason.
31
The bank reserves the right to add or alter any or all the rules governing
this scheme and such altered or additional rules shall be immediately
thereafter be deemed to be binding on all depositors.
Cash Waqf. Deposit

In the Voluntary Sector, SIBL has also introduced Cash Waqf Certificate, a new
product for the first time in the Banking history so that a new beginning can be
made for a participatory economy. This scheme has been well received by the
public in general for its unique features. SIBL as a pioneer of this innovative
financial product of social capital mobilization has received both local &
international accreditation. By opening a Cash Waqf Deposit A/C someone can
get an opportunity to do welfare to the mankind through Sadaka-e-Jariah. SIBL
urges to all religious & affluent persons of the society to come forward to
mobilize Cash Waqf Deposit so that the profit may be utilized for the wellbeing of mankind. The Guidelines for operation of this scheme are stated below:
Cash waqfs shall be accepted as endowment in conformity with the Shariah.
Bank will manage the waqf on behalf of the waqif.. Waqfs are done in
perpetuity and the account shall be opened in the title given by the waqif. The
32 purposes under 4 major fields like (1) Family Rehabilitation (2) Education &
Culture (3) Health & Sanitation (4) Social Utility and (5) Others are considered
as General Guidelines for distribution of profit of Cash waqf A/Cs. In the case,
where only fields(s) for distribution of profit are mentioned without specifying
the name of the beneficiary(s) whether individual(s) or institution(s), those Cash
Waqf will be treated as General Cash Waqf and the profit of those A/Cs will be
spent for welfare of mankind in the field of (1) Family Rehabilitation (2)
Education & Culture (3) Health & Sanitation (4) Social Utility and (5) Others.
On the other hand, Waqif may choose distribution of the profit to any specific
individual(s)/ institution(s). That A/Cs will be treated as Specific Cash Waqf,
the profit of that A/Cs will be sent to the beneficiary(s) as specified by the
Waqif.
The amount deposited in the Cash Waqf A/Cs will be invested as per
Banks own decision in conformity with the Shariah and the Cash Waqf
amount will earn profit at the highest rate offered by the Bank from time
to time. The waqf amount will remain intact and only the profit amount
32
will be spent for the purpose(s) specified by the Waqif. Unspent profit
amount will automatically be added to waqf amount and earn profit to
be grown over the time. No cheque book will be issued in this account.
Waqif may also instruct the Bank to spend the entire profit for the
purpose specified by him/her.
Waqif has the opportunity to create cash waqf at a time. Otherwise

he/she may declare the amount he/she intends to build up and may start
with a minimum deposit of Tk. 1,000/= (one thousand) only (or
equivalent foreign currency). The subsequent deposits shall also be
made in hundred or in multiple of hundred Takas. However, General
Cash Waqf A/Cs (where name of beneficiary whether Individual(s) or
Institution(s) are not mentioned) may be opened by depositing a
minimum sum of Tk. 1,000/= only. Specific Cash Waqf A/Cs (where
name of beneficiary whether Individual(s) or Institution(s) are
mentioned) by depositing a minimum sum of Tk. 5,000/= & above
Waqif shall also have the right to give standing instruction to the bank
for regular realization of cash waqf at a rate specified by him/her from
any other A/C maintained with SIBL.
Cash waqf shall be accepted in specified endowment Receipt Voucher

and a Certificate for the entire amount shall be issued as and when the
declared amount is built.
Accounts of Cash Waqfs are maintained in a separate ledger and

necessary charges as per rules may be deducted therefrom.
In case of any change of address of the Waqif or beneficiary, must be

informed by the Waqif to the Bank immediately
Bank however reserves the right to regret to open any Cash Waqf
Account.
The rules of Cash Waqf Account are subject to amendment in

conformity with the Shariah at any time by the Bank.
3.10.3 Cards:
3.10.3.1 Credit Card:
About SIBL VISA Islamic Credit Card:
33
In today's modern world Credit Card is a very extensively used mode of financial
transaction and it is widely known as Plastic Money. It has created an immense
impact in the life of the people all over the world. The same trend is being followed in
Bangladesh too. Nowadays the popularity of Islamic Credit Cards in Bangladesh Is
growing by leaps and bounds as domestic and foreign banks are earning substantial
profit through this product. An increased use of both local Dual Currency Islamic
Credit Card is taking place side by side with the expansion of personal banking
services. Cross-border business and travels are also helping the expansion. SIBL is
always willing to offer new and Islami Shariah compliant financial products to its
clients. Though SIBL is making late entrance in the card market, still we are planning
to complete significantly with other issuers.
1. SIBL Credit Cards:
As per Islamic Banking Guidelines, Bai-Murabha means buying goods and services ans
selling it to the customers with markup profit. It can be sold to the customers against
full payment at the time of sale or installment payment in future date. SIBL Visa
Islamic Credit Card will be issued under Bai-Murabha mode of Investment. Yearly
27% Mark-up Profit will be charged with the purchase price og Goods and Services.
Other charges will be as per slandered of existing Card Market of Bangladesh.
Types of Cards:
VISA Local Classic
VISA Gold Classic
VISA Classic Dual
VISA Gold Dual
Features:
Shariah Complaint
Competitive profit charge
Dual Currency facility
Balanced Transfer facility up to 90% of Card limit
Usable at all Merchants and ATMs that display the VISA logo
International Roaming facility
24/7 hours customer services help desk
34
Supplementary Card Free

Grace period maximum 51 days
No hidden charges
Quick Replacement of Lost/Stolen card
Cards dues notification through SMS
Auto renewal before expiry
Cash advanced facility up to 90% of Card limit
Eligibility: (Age)
For Primary card 21 years to 65 years
For Supplementary card 18 years to 65 years
Length of Service / Business /Practice:
Salaried Executives: At least six months employment with present employer or
case to case basis
Professional: Minimum 1 year of practice in the profession
Businessman: Minimum 1 year of business establishment
Minimum Monthly Income:
Minimum Tk.10,000/- (Gross monthly income)
Determination of Income:
Salaried:
Gross Monthly Income (GMI) is defined as the total income of an applicant
including overtime and other allowance received on a regular basis before any
deductions/loan installments as reflected in the salary certificate or pay-slips or
the bank statements.
Where free accommodation is provided by the employer , up to 25 % of the
salary and allowances as mentioned in the salary Certificate may be added to
circulate at GMI.
Self-employed:
GMI is defined as the average monthly income of an applicant after deduction
of all business expenses. GMI is determined on the basis of income Text Return
35
(IT 88) which gross yesrly income before deduction and which is divided by
twelve to arrive at GMI and will be also calculated on the basis of judgment.
Exceptions:
For renowned businessman, high Govt. Officials only visiting card will be
applicable to support the aforesaid criteria.
Additional Income:
Rental Income, Spouse Income
Required Documents:
Filled Application Form
2 copies of passport size photographs
Salary Certificate
TIN Certificate
Lien of MTDR
Trade License of businessman
Bank Statement (last 6 months)
Utility Bill (Gas/Electricity/Mobile Phone Bill/Land Phone Bill)
Copy of Passport/National ID
Photocopy of passport from 1 to 7 pages including endorsement pages if any.
Other bank's card bill (if applicable)
Deed of Partnership/Memorandum and Article of Association
2. Visa Islamic Credit Card (Dual):
Local and foreign currency in same plastic.
Is accepted at any VISA and Q-cash merchant outlets around the country and
over 24 million VISA outlets worldwide.
All foreign currency transactions will be converted to US Dollars.
Issued under Personal travel Quota, RFCD Quota and ERQ entitlement.
Any amount up to 90% of credit limit is available to you as cash from any Local
and foreign VISA ATMs
36
Any amount up to 90% of credit card limit BDT can be transferred to MSD
account with SIBL by fund transfer
Roaming bill of cell phone is payable through SIBL Dual Credit card
Ecommerce transaction can be executed by SIBL VISA Islamic Dual Credit
Card
3. Visa Islamic Credit Card (Local):
Is accepted at any VISA and Q-cash merchant outlets around the country
Any amount up to 90% of credit limit is available to you as cash from any ATM
displaying the VISA logo & Q-Cash logo.
Any amount up to 90% of credit card limit can be transferred to MSD account
with SIBL by fund transfer
3.10.3.2 SIBL Zameel Debit Card:
A debit card (also known as a bank card or check card) is plastic cart that provides the
cardholder electronic access to his or her bank account(s) at a financial institution.
Some cards have a stored value with which a payment is made, while most relay a
message to the cardholders bank to withdraw funds from a designated account in favor
of the payees designated bank account. The card can be used as an alternative payment
method to cash when making purchases. An electronic card issued by a bank which
allows bank clients access to their withdraw cash or pay for goods and services. This
removes the need for bank clients to go to the bank to remove cash from their account
as they can now just go to an ATM or pay electronically at merchant locations. This
type of card, as a form of payment, also removes the need for checks as the debit card
immediately transfers money from the clients account to the business account.
A card issued by a bank that combines the functions of an ATM card checks.
A debit card can be used withdraw cash at a bank like an ATM cart, and it can
also be used at stores to pay for goods and services in place of a check.
Unlike a credit card, a debit card automatically withdraws money from your
checking account at the time of the transaction.
SIBL VISA Electron:
Visa Electron cards are issued against customers account maintained with any of our
branches. Cards are issued against the following accounts:
37
Mudaraba Savings Deposit Staff

Mudaraba Savings Deposit Client
Al-wadiah Current Deposit Client
Mudaraba Notice deposit Client
SIBL Young Star Account client
Features:
Round the clock transaction facility
Directly linked to Cardholders Account at SIBL
Balance Inquiry
PIN Change
Mini statement
Accepted for purchase at all VISA terminal
Minimizing risk of carrying cash
38
3.11 SWOT Analysis of SIBL:

Strength:
Social Islami Bank is a new commercial bank in banking sector but it has built strong
reputation in short time. It provides extra ordinary services to its customers. The
financial condition of Social Islami Bank is very strong, its loan and deposit quality is
better than any other commercial banks of Bangladesh. It has a strong network
throughout the country and it provides services of good quality to every level of
customers. Their corresponding relationships with more than 200 international and
local banks of different countries have created global accessibility and relationship with
people. Installation and use of highly sophisticated, automated system that enables the
bank to have on time communication with all branches reduces excessive paper work
and time for valued customer transaction.
Social Islami Bank is a new commercial bank in banking sector but it has built strong
reputation in short time. It provides extra ordinary services to its customers.
The financial condition of Social Islami Bank is very strong, its loan and deposit
quality is better than any other commercial banks of Bangladesh. It has a strong
network throughout the country and it provides services of good quality to every level
of customers.
Weakness:
One of the greatest weaknesses for Social Islami Bank is shortage of manpower in
every division. During the working hour of banks the employees cannot provide proper
attention to the customers that enhances customer dissatisfaction. Higher service charge
in some areas of its banking operation discourages customers from opening or
maintaining accounts with this bank.
Social Islami Bank is facing some problems from their competitors because
competitors are giving a higher interest rate in deposits without any reason which will
deteriorate its position than it was before. Because of this a lot of depositors are leaving
Social Islami Bank. There is a very little practice for increasing motivation in the
workers by the management.
39
Opportunity:
There is a great opportunity to take new dimension of banking such as Islamic banking,
specialized banking. Otherwise, there are many sectors where this can give special
privileges. The credit facility offered by Social Islami Bank has attracted security and
status conscious businessmen as well as service holders with higher income group.
Threats:
The emergence of several private and foreign banks within the past few years
offering similar services with less or free charge for the facilities can be a major
threat for the bank.
Social Islami Bank. Sometimes the restrictions impose barrier in the normal
operations and policies of the bank.
Rival banks easily copy the product offering of SIBL. Therefore, this bank is in
continuous progress of product innovation to gain temporary advantages over
its competitors.
Sometime political loans are the threat for this banking service.
40
CHAPTER - 04
REVIEW OF THE LITERATURE

Chapter Overview
Job Satisfaction
Determinants of Job Satisfaction
Measuring Job Satisfaction
Importance of job satisfaction
Relative Importance of Attitude toward
Job Satisfaction
The widely used instruments for
measuring job satisfaction
Impact of Bank type, work experience,
age and sex Differences on Job
Satisfaction
41
4.0 Job Satisfaction: What Is Job Satisfaction?

Job satisfaction describes how content an individual is with his /her job. The happier
people are within their job, the more satisfied they are said to be. Job satisfaction is not
the same as motivation or aptitude, although it is clearly linked. Job design aims to
enhance job satisfaction and performance; methods include job rotation, job
enlargement, job enrichment and job re-engineering. Other influences on satisfaction
include the management style and culture, employee involvement, empowerment and
autonomous work position. Job satisfaction is a very important attribute which is
frequently measured by organizations. The most common way of measurement is the
use of rating scales where employees report their reactions to their jobs. Questions
relate to rate of pay, work responsibilities, variety of tasks, promotional opportunities,
the work itself and co-workers. Some questioners ask yes or no questions while others
ask to rate satisfaction on 1-5 scale (where 1 represents not at all satisfied and 5
represents extremely satisfied).
Job satisfaction has been defined as a pleasurable emotional state resulting from the
appraisal of ones job; an affective reaction to ones job; and an attitude towards ones
job. Weiss (2002) has argued that job satisfaction is an attitude but points out that
researchers should clearly distinguish the objects of cognitive evaluation which are
affect (emotion), beliefs and behaviors. This definition suggests that we form attitudes
towards our jobs by taking into account our feelings, our beliefs, and our behaviors.
One of the biggest preludes to the study of job satisfaction was the Hawthorne studies.
These studies (19241933), primarily credited to Elton Mayo of the Harvard Business
School, sought to find the effects of various conditions (most notably illumination) on
workers productivity. These studies ultimately showed that novel changes in work
conditions temporarily increase productivity (called the Hawthorne Effect). It was later
found that this increase resulted, not from the new conditions, but from the knowledge
of being observed. This finding provided strong evidence that people work for purposes
other than pay, which paved the way for researchers to investigate other factors in job
satisfaction.
Scientific management (aka Taylorism) also had a significant impact on the study of
job satisfaction. Frederick Winslow Taylors 1911 book, Principles of Scientific
Management, argued that there was a single best way to perform any given work task.
This book contributed to a change in industrial production philosophies, causing a shift
42
from skilled labor and piecework towards the more modern of assembly lines and
hourly wages. The initial use of scientific management by industries greatly increased
productivity because workers were forced to work at a faster pace. However, workers
became exhausted and dissatisfied, thus leaving researchers with new questions to
answer regarding job satisfaction. It should also be noted that the work of W.L. Bryan,
Walter Dill Scott, and Hugo Munsterberg set the tone for Taylors work.
Some argue that Maslows hierarchy of needs theory, a motivation theory, laid the
foundation for job satisfaction theory. This theory explains that people seek to satisfy
five specific needs in life physiological needs, safety needs, social needs, self-esteem
needs, and self-actualization. This model served as a good basis from which early
researchers could develop job satisfaction theories.
Job satisfaction can also be seen within the broader context of the range of issues which
affect an individuals experience of work, or their quality of working life. Job
satisfaction can be understood in terms of its relationships with other key factors, such
as general well-being, stress at work, control at work, home-work interface, and
working conditions.
4.1 Determinants of Job Satisfaction:

Compensation: Employee compensation refers to all forms of pay or rewards
going to employees and arising from their employment. It has main two main
components direct financial payments (wages, salaries, incentives, commission
and bonuses) indirect payments (paid insurance, vacation).
Satisfaction about Fringe Benefits: Non-monetary benefits offered to the
employees of a company in addition to their wages and salaries. They include
company cars, expense account the opportunity to buy company products at
reduce rate. Private health plans, canteens subsidies meals, social club. Some of
these benefits such as company cars do not escape the tax net.
Promotion System: Timely promotion of employees next to higher rank is also
important determinant of job satisfaction. If there is any specific promotional
ruled in the organization that will definitely lead to better job satisfaction of the
employees.
43
Posting and Transfers: In an organization there should be specific system

posting and transfer .While posting and transfer some specific rules must be
follows. These might have positive impact on the job satisfaction of employees.
Non-Financial Incentives: Non-financial incentives are form of childrens
school facilities, hospital facilities, employees transportation facilities, prayer
facilities etc. Also act as an important determinant of employees job
satisfaction.
Job Status: The position of job that is job status is also an important
determinant of job satisfaction of employees. Such job status of an employee
influences job satisfaction positively.
Health Care: This factor examines the extent to which an employee is satisfied
with health care benefits and includes the quality of the health benefits, the size
of the employers contribution to the plan and the cost to the employee of the
health care benefits.
Income Continuation: This factor examines the extent to which an employee is
satisfied with benefits that provide financial security if the employee is disabled
due to an accident or poor health or loses his or her job involuntarily. With the
exception of long term disability, these are legally required benefits which
consist of social security, workers compensation and unemployment
compensation.
Superior-Subordinate Communication: Superior-subordinate communication
is an important influence on job satisfaction in the workplace. The way in which
subordinates perceive a supervisors behavior can positively or negatively
influence job satisfaction. Communication behavior such as facial expression,
eye contact, vocal expression, and body movement is crucial to the superiorsubordinate relationship. Nonverbal messages play a central role in
interpersonal interactions with respect to impression formation, deception,
attraction, social influence, and emotional expression. Nonverbal immediacy
from the supervisor helps to increase interpersonal involvement with their
subordinates impacting job satisfaction. The manner in which supervisors
communicate their subordinates may be more important than the verbal content
Individuals who dislike and think negatively about their supervisor are less
willing to communicate or have motivation to work where as individuals who
44
like and think positively of their supervisor are more likely to communicate and
are satisfied with their job and work environment. The relationship of a
subordinate with their supervisor is a very important aspect in the workplace.
Therefore, a supervisor who uses nonverbal immediacy, friendliness, and open
communication lines is more willing to receive positive feedback and high job
satisfaction from a subordinate where as a supervisor who is antisocial,
unfriendly, and unwilling to communicate will naturally receive negative
feedback and very low job satisfaction from their subordinates in the workplace.
Emotions: Mood and emotions form the affective element of job satisfaction.
Moods tend to be longer lasting but often weaker states of uncertain origin,
while emotions are often more intense, short-lived and have a clear object or
cause. There is some evidence in the literature that moods are related to overall
job satisfaction. Positive and negative emotions were also found to be
significantly related to overall job satisfaction. Frequency of experiencing net
positive emotion will be a better predictor of overall job satisfaction than will
intensity of positive emotion when it is experienced. Emotion work refers to
various types of efforts to manage emotional states and displays. Emotion
management includes all of the conscious and unconscious efforts to increase,
maintain, or decrease one or more components of an emotion. Although early
studies of the consequences of emotional work emphasized its harmful effects
on workers, studies of workers in a variety of occupations suggest that the
consequences of emotional work are not uniformly negative. It was found that
suppression of unpleasant emotions decreases job satisfaction and the
amplification of pleasant emotions increases job satisfaction. The understanding
of how emotion regulation relates to job satisfaction concerns two models:
Emotional dissonance Emotional dissonance is a state of discrepancy between
public displays of emotions and internal experiences of emotions that often
follows the process of emotion regulation. Emotional dissonance is associated
with high emotional exhaustion, low organizational commitment, and low job
satisfaction. Social interaction model taking the social interaction perspective,
workers emotion regulation might beget responses from others during
interpersonal encounters that subsequently impact their own job satisfaction.
45
Relationships and Practical Implications: Job Satisfaction can be an

important indicator of how employees feel about their jobs and a predictor of
work behaviors such as organizational citizenship, absenteeism, and turnover.
Further, job satisfaction can partially mediate the relationship of personality
variables and deviant work behaviors. One common research finding is that job
satisfaction is correlated with life satisfaction. This correlation is reciprocal,
meaning people who are satisfied with life tend to be satisfied with their job and
people who are satisfied with their job tend to be satisfied with life. However,
some research has found that job satisfaction is not significantly related to life
satisfaction when other variables such as non-work satisfaction and core selfevaluations are taken into account.
Job Security: Job security refers to the nature of the job that is whether a job is
permanent, temporary or ad hoe. Job security acts as an important determinant
of job satisfaction.
Duration of Work: The working hour that is the duration of work acts an
important determinant for job satisfaction of employees. Such duration of work
must be reasonable. In some organizations employees has to work beyond the
normal duration which adversely effects of their job satisfaction?
Training Facilities: Training is widely considered as an important tool for
enhancing a persons attitude, skill and knowledge. It is the process of assisting
a person for developing his efficiency and effectiveness at work by improving
updating professional knowledge and skill. Such training facilities act as an
important determinant for job satisfaction of an employee he more the training
facilities the better the job satisfaction and vice and versa.
Paid Leave: Any leave facility with full pay acts as a direct influence on the job
satisfaction of employee. On the other hand leave without pay imposes adverse
impact on the job satisfaction of the employee.
Working Environment: It also has a direct influence on the job satisfaction of
the employee. The working environment must be congenial to the employees.
Any unfavorable working environments will adversely
affect to the job
satisfaction of the employee.

Participative Management System: Participative management system where
every officer can
participate in the decision making process has a positive
46
impact on the job satisfaction of the employees. The more presence of

participatory management system in the organization improves job satisfaction
and vice versa.
Team Work: Team work also acts as important determinant of a job
satisfaction of an employee. In case of team work the concerted effort of the
employee can be ensured.
Seniors Behavior: Cordial behavior of the seniors toward their juniors also has
positive impact on the job satisfaction of the employees. The opposite version is
also true.
Participation in Decision Making: Participation of the employees in the
decision making process in an organization is another important determinant of
a job satisfaction of the employees. The more participation of the employees in
decision making process it makes job satisfaction high.
Occupational Stress: Job satisfaction of any employee depends on
occupational stress .Generally the occupational stress has significant adverse
impact on their job satisfaction. Moreover, the employees with lower
occupational stress should have higher job satisfaction and, on the contrary, the
employees with higher occupational stress should have lower job satisfaction.
Nature of Work: Job satisfaction of an employee also depends on nature of
work. If the nature of work is more complicated, probably this will lead to
negative impact on job satisfaction and vice versa.
Retirement Benefits: This factor examines the extent to which an employee is
satisfied with the retirement benefits including the quality of the plan, the size
of the employers contribution to retirement, and the employers ability to
provide information about the retirement benefits.
4.2. Measuring Job Satisfaction:

Models of Job Satisfaction:
Edwin A. Lockes Range of Affect Theory (1976) is arguably the most famous job
satisfaction model. The main premise of this theory is that satisfaction is determined by
a discrepancy between what one wants in a job and what one has in a job. Further, the
theory states that how much one values a given facet of work (e.g. the degree of
autonomy in a position) moderates how satisfied/dissatisfied one becomes when
47
expectations are/arent met. When a person values a particular facet of a job, his
satisfaction is more greatly impacted both positively (when expectations are met) and
negatively (when expectations are not met), compared to one who doesnt value that
facet. To illustrate, if Employee A values autonomy in the workplace and Employee B
is indifferent about autonomy, then Employee A would be more satisfied in a position
that offers a high degree of autonomy and less satisfied in a position with little or no
autonomy compared to Employee B. This theory also states that too much of a
particular facet will produce stronger feelings of dissatisfaction the more a worker
values that facet.
A significant model that narrowed the scope of the Dispositional Theory was the Core
Self-evaluations Model, proposed by Timothy A. Judge, Edwin A. Locke, and Cathy C.
Durham in 1997.[5] Judge et al. argued that there are four Core Self-evaluations that
determine ones disposition towards job satisfaction: self-esteem, general self-efficacy,
locus of control, and neuroticism. This model states that higher levels of self-esteem
(the value one places on his/her self) and general self-efficacy (the belief in ones own
competence) lead to higher work satisfaction.
Motivation can be seen as an inner force that drives individuals to attain personal and
organizational goals (Hoskinson, Porter, & Wrench, p. 133). Motivating factors are
those aspects of the job that make people want to perform, and provide people with
satisfaction, for example achievement in work, recognition, promotion opportunities.
These motivating factors are considered to be intrinsic to the job, or the work carried
out. Hygiene factors include aspects of the working environment such as pay, company
policies, supervisory practices, and other working conditions.
The Job in General Index is an overall measurement of job satisfaction. It is an
improvement to the Job Descriptive Index because the JDI focuses too much on
individual facets and not enough on work satisfaction in general.
4.3 Importance of Job Satisfaction:

An important finding for organizations to note is that job satisfaction has a rather
tenuous correlation to productivity on the job. This is a vital piece of information to
researchers and businesses, as the idea that satisfaction and job performance are
directly related to one another is often cited in the media and in some non-academic
management literature. A recent meta-analysis found an average uncorrected
correlation between job satisfaction and productivity to be r = 0.18; the average true
48
correlation, corrected for research artifacts and unreliability, was r = 0.30. Further, the
meta-analysis found that the relationship between satisfaction and performance can be
moderated by job complexity, such that for high-complexity jobs the correlation
between satisfaction and performance is higher ( = 0.52) than for jobs of low to
moderate complexity ( = 0.29). Job Satisfaction also has high relationship with
intention to quit. It is found in much research that Job Satisfaction can lead to Intention
to Stay / quit in an organization (Kim et al., 1996). Recent research has also shown that
Intention to Quit can have effect like poor performance orientation, organizational
deviance, and poor organizational citizenship behaviors. In short, the relationship of
satisfaction to productivity is not necessarily straightforward and can be influenced by
a number of other work-related constructs, and the notion that a happy worker is a
productive worker should not be the foundation of organizational decision-making.
With regard to job performance, employee personality may be more important than job
satisfaction. The link between job satisfaction and performance is thought to be a
spurious relationship; instead, both satisfaction and performance are the result of
personality.
4.4 Relative Importance of Attitude toward Job Satisfaction:

The attitudes toward job satisfaction need clarification for exploring their relative
importance as they are linked to intra-personal disposition of human beings. In this
context, job satisfaction projects individuals attitudes involving information that is
generally acquired by an employee about workplace over a period of time. It results
from the balancing and summation of many specific likes and dislikes of employees
experienced in connection with their jobs (Haung, 1999; 1994; Locke, 1976). The
attitudes regarding job satisfaction are broadly related to the areas of intrinsic nature of
work, wage and security, supervision, and company policies and practices (Ganguli,
1994).
4.5 The widely used instruments for measuring job satisfaction:

Job Descriptive Index (JDI) and Minnesota Satisfaction Questionnaire (MSQ) that
measure mentally challenging work, equitable rewards, and opportunities for
promotion, supportive working conditions, and supportive colleagues (Haung, 1999).
This factor provides the maximum insights of job satisfaction of bank officers in
Bangladesh. It broadly includes the areas of job satisfaction such as, salary, company
49
policies and practices, and promotion chance. The eight variables contain in the factor
salary are: satisfied with present salary, bank is sympathetic to the officers view, bank
appreciates performance, satisfied with increment allocation method, income is higher
than other banks, satisfied with the chances of promotion, satisfied with the welfare
facilities, and satisfied with the chances of income increase. Hence, the policy makers
in the banking sector in Bangladesh should give greater importance on these variables
concerning salary, company policies and practices, and chance for promotion to
increase job satisfaction of the officers.
The second important factor is efficiency in work that accounts for 9.37% of the
variance and it broadly covers areas of job satisfaction including job security,
supervision, and supportive colleagues. The variables are namely, not lose job if
worked efficiently, immediate supervisor is reasonable, satisfied with the recognition
by colleagues, and superior encourages suggestions for improvement. The other six
factors are almost equal in their ability to account for the variation of level of job
satisfaction with comparatively low exigent values.
4.6 Impact of Bank type, work experience, age and sex Differences on
Job Satisfaction:
Previous researchers have found relationships between job satisfaction and age, sex,
(Pugliesi, 1995; Cheung and Scherling, 1999) and work experience (Steffy and Jones,
1990). In this section, the impacts of bank type, work experience, gender, and age on
the attitudes, rather than factors, toward job satisfaction of bank officers is assessed.
This has been done with a view to obtaining more insights on the impact. The results
shows that the variables recovery significantly with the type of bank public and
private. It means that there is a variation in the level of job satisfaction of bank officers
depending on the type of bank in Bangladesh In other words; type of bank is a
significant explanatory variable for the job satisfaction level. Fourteen job satisfaction
variables, broadly representing the areas of company policies and practices, salaries and
facilities, opportunities for promotion, and relationship between union and
management, are significantly related to the bank type. Work experience has the second
most importance on four variables taken in the study (job gives chances to do things
felt best, satisfied with increment allocation method, income is higher than other banks,
and would not leave job if similar job offer to other organization). These variables
confirm a significant relationship with experience of bank officers. These relationships
50
broadly indicate that experience affects the areas of job satisfaction including policies
and practices (job gives chances to do things felt best and satisfied with increment
allocation method), salary and facilities (income is higher than other banks), and to the
company (would not leave job if similar job offer to other organization). It could be
explained that officers with higher experience hold higher level of work freedom, have
more financial and non- financial benefits, are more familiar with organizational
policies and practices, and have greater loyalty to the bank. Sex and age differences
have relatively lower level of impact on the entire set of variables, which are
manifested through the significance of bank is sympathetic to officers views and
banks policy is to overdrive workers to get the maximum respectively in the test. Sex
differences have only impact on the banks sympathy to the officers views, while age
differences leave impact on banks policy to overdrive workers to get the maximum.
Sex differences in particular could be described as an interesting issue in the socioeconomic context of Bangladesh. It is generally viewed that female employees are
somewhat neglected in their work places and consequently, they are prone to a
relatively lower level of job satisfaction. This study defies this view endorsing almost
no sex discrimination in the female bank officers. Age differences of bank officers have
also negligible impact on the full set of variables of job satisfaction. None of the
interactions from these four factors bank type, work experience, sex, and age - was
found significant.
51
CHAPTER - 05
RESEARCH METHODOLOGY
Chapter Overview
Methodology
Research Design
Research Approach
Research Instruments
Data Collection
Data Collection Procedure
Data Analysis Procedures
52
5.0 Methodology:
Methodology can properly refer to the theoretical analysis of the methods appropriate
to a field of study or to the body of methods and principles particular to a branch of
knowledge. Methodology has been increasingly used as a pretentious substitute for
method in scientific and technical contexts. Methodology is a system of precise rules
and procedures on which research is based and against which claims for knowledge and
evaluation. This method is neither closed nor flawless. Rather the rules and measures
are constantly being improved (David Nachmias, 1992).
5.1 Research Design:

The researchers for this study have chosen correlation research design. According to
the proposed framework the researchers are finding the significant positive or negative
change in variables (dependent) because of change in one (independent) variable. The
previous graphical representation of the proposed model portrays the pattern and
structure of the relationships among the set of measured variables. The purpose of the
study is to investigate the relationship of the measured variables and the correlation
among the variables.
5.2 Research Approach:

To investigate the research questions, the researcher gathered information from bank
employees, bank managers and bank experts. All participation was voluntary. If the
participants wished to take out, they were free to do so at any time without any
condition. All the participants were given a letter from the researcher explaining the
context of the research focus. Participants signed a consent form and held in reserve a
copy as their record. A signed copy was returned to the researcher.
5.3 Research Instruments:

The researcher required primary data to investigate the research problem. Because, it
was found that there was lack of secondary data (e.g. articles, journals, magazine, and
records on human resource management) in the case of SIBL. To collect data from the
primary sources, the researcher used questionnaire and interview methods. In order to
gain information from the bank employees the researcher used the questionnaire
method. The questionnaire was a useful method to collect data from employees for the
following reasons.
53
First of all, survey about 25 employees of the Rampura Branch of SIBL.

Second of all, the existing study was about achievement motivation and employees
performance, and employees might felt unenthusiastic to confer these issues with an
interviewer. The researcher selected the interview method not only for in-depth
information but to verify the information gather from responses gained from the
employees questionnaires.
5.4 Data Collection:

5.4.1: Pilot Test of Questionnaire
The first tread in the data collection was distribution of the pilot test of the
questionnaire. The questionnaire was pre-tested with 8 SIBL employees who were
attending training in Bangladesh Institute of Bank Management (BIBM). These
employees have worked in different SIBL branches in Bangladesh. Burns and Bush
(1998) suggested that a pre-test of 5-10 representative respondents is usually adequate
to identify problems with a questionnaire. Pilot study is done to check out procedures
that are to be incorporated into a more extensive study. The results of a pilot study can
considerably improve the planning and increase the chances for success of a subsequent
larger scale experiment (Saslow, 1987).
5.4.2: Survey Instruments:
5.4.2.1: Questionnaire:
The data for the present study were obtained by the administration of a questionnaire,
which contained two parts, the first part contained columns for personal information
and the second part contained achievement satisfaction scale as constructed and
standardized by Au (1979) to measure achievement motivation. The scale consisted of
20 statements concerning achievement themes, namely anti traditionalism, regularity
and punctuality, work habit, initiative, sense of responsibility, risk taking, spirit of
independence, optimism, leadership quality and ability to guide, concern for efficiency,
spirit of competition and anti-fatalism.
5.4.2.2: Interview Schedule
The interview is also used semi-structured interviews as an instrument to collect data
from the bank managers and the bank experts. To collect data, the researcher carried
out each interview in a face-to-face situation. This draw near to data collection is
54
extremely useful in situations where either in-depth information is needed or little is

known in the area (Kumar, 1997). Cooper and Schindler (1998) noted that if the
researcher has sample size, a self-administered questionnaire would be most effective
in regard to time and cost. The in depth interview distant exceeds the information
secured by self-administered studies. Cooper and Schindler also affirm that
interviewers can ask additional questions, and gather supplemental information through
observation. Both managers and experts are comprised of a small group; hence, the
study has utilized the semi-structured interview method. The most important advantage
was derived from the capability of the interview technique to enable discussions of
multifarious topics and thus endow with rich and more complete data (Smith, Thorpe,
& Lowe, 2002).
5.5 Data Collection Procedure:

The questionnaire was administered individually to the 25 employees in the study.
Respondents were assured that it was purely an academic research and that their
personal identity would be kept secret. Any difficulties in understanding the
instructions and in the methods of- answering the questionnaire was made clear and it
took 20 minutes to answer the questionnaire. After the questionnaires were filled in by
the respondents, these were collected and checked for consistency. Scoring of the
responses was done following the procedure provided by the author of the achievement
satisfaction scale (Ali, 1979). After collection of data, performance of each respondent
was taken from the concerned bank manager of each subject. The content of the semistructured interview consists of question which will be predetermined to gain
information about the way managers saw themselves using power, motivational
esteems in relation to their employees.
5.6 Data Analysis Procedures:

To analyze the quantitative data, the researcher explored the internal structure and
measurement qualities of the proposed hypothetical constructs job satisfaction and
employees performance. The output of the research has shown in graph by using
graphical method.
55
CHAPTER - 06
ANALYSIS & INTERPRETATION
Chapter Overview
Analysis
Interpretation of the Data
56
6.0 Analysis:
The present study deals with the three issues to analyze the job satisfaction of bank
officers in Bangladesh. The issues are:
(i) The relative importance of job satisfaction factors;
(ii) The impact of bank type, work experience, age and sex differences on the attitudes
toward job satisfaction. It also investigates the impacts of bank type, work experience,
age, and sex differences on the attitudes toward job Satisfaction.
The result shows that salary, efficiency in work, fringe supervision, and co-worker
relation are the most important factors contributing to job satisfaction. Work experience
is found as the second most important factor affecting job satisfaction. Sex and age
differences have relatively lower level of impact on it. The overall job satisfaction of
the bank officers is at the positive level.
6.1 Interpretation of the Data:

1. A job where the pay is very good.
Frequency Percentage % Valid Percentage %
Cumulative Percentage %
Strongly Disagree
Disagree
16
16
16
Neutral
15
60
60
76
Agree
20
20
96
Strongly Agree
100
Total
25
100
100
2. A job where there is considerable is creative and innovative.

Frequency Percentage % Valid Percentage % Cumulative Percentage %
Strongly Disagree
12
12
12
Disagree
20
20
32
Neutral
10
40
40
72
Agree
20
20
92
Strongly Agree
100
Total
25
100
100
3. A job where you are often required to make important decisions.

57
Strongly Disagree
12
12
12
Disagree
16
16
28
Neutral
12
48
48
76
Agree
20
20
96
Strongly Agree
100
Total
25
100
100
4. A job in which greater responsibility is given to those who do the best Work.
Strongly Disagree
Disagree
Neutral
10
40
40
40
Agree
10
40
40
80
Strongly Agree
20
20
100
Total
25
100
100
5. A job in which greater responsibility is given to loyal employees who have the
most seniority.
Strongly Disagree
Disagree
Neutral
10
40
40
48
Agree
20
20
68
Strongly Agree
32
32
100
Total
25
100
100
6. A job in which you are not allowed any say whatever in how your work is
scheduled, or in the procedures to be used in carrying it out.
Strongly Disagree
Disagree
12
12
12
Neutral
10
40
40
52
Agree
32
32
84
Strongly Agree
16
16
100
Total
25
100
100
58
7. A job where your co-workers are not very friendly.

Strongly Disagree
20
80
80
80
Disagree
88
Neutral
12
12
100
Agree
100
Strongly Agree
100
Total
25
100
100
8. A job with a supervisor who is often very critical of you and your work in front
of other people.
Strongly Disagree
20
80
80
80
Disagree
88
Neutral
12
12
100
Agree
100
Strongly Agree
100
Total
25
100
100
9. A job, which prevents you from using a number of skills that you, worked
develop.
Strongly Disagree
20
80
80
80
Disagree
88
Neutral
12
12
100
Agree
100
Strongly Agree
100
Total
25
100
100
10. A job with a supervisor who respects you and treats you fairly.
Strongly Disagree
Disagree
Neutral
10
40
40
40
59
Agree
10
40
40
80
Strongly Agree
20
20
100
Total
25
100
100
11. A job which provides constant new and interesting opportunities for you to
learn.
Strongly Disagree
Disagree
Neutral
15
60
60
60
Agree
32
32
92
Strongly Agree
100
Total
25
100
100
12. A job where there is a real chance you could be laid off.
Strongly Disagree
20
80
80
80
Disagree
88
Neutral
12
12
100
Agree
100
Strongly Agree
100
Total
25
100
100
13. A job in which there is a real chance for you to develop new skills and advance
in the organization.
Strongly Disagree
Disagree
12
12
12
Neutral
10
40
40
52
Agree
32
32
84
Strongly Agree
16
16
100
Total
25
100
100
14. A job which provides lots of vacation time and an excellent fringe benefit
package.
60

Strongly Disagree
Disagree
Neutral
15
60
60
60
Agree
32
32
92
Strongly Agree
100
Total
25
100
100
15. A job with little freedom and independence to do your work in the way you
think best.
Strongly Disagree
Disagree
Neutral
10
40
40
40
Agree
10
40
40
80
Strongly Agree
20
20
100
Total
25
100
100
16. A job where the working condition are average.

Strongly Disagree
Disagree
12
12
12
Neutral
10
40
40
52
Agree
32
32
84
Strongly Agree
16
16
100
Total
25
100
100
17. A job with very satisfying team-work.

Strongly Disagree
Disagree
Neutral
15
60
60
60
Agree
36
36
96
Strongly Agree
100
Total
25
100
100
61
18. A job which requires you to challenge completely isolated co-workers to

contribute.
Strongly Disagree
Disagree
11
44
44
44
Neutral
10
40
40
84
Agree
16
16
100
Strongly Agree
100
Total
25
100
100
19. A job which allows you to use your skills and abilities to the fullest extent.
Strongly Disagree
Disagree
Neutral
10
40
40
40
Agree
10
40
40
80
Strongly Agree
20
20
100
Total
25
100
100
62
CHAPTER - 07
FINDING, RECOMMENDATIONS
&
CONCLUSION
Chapter Overview
Finding
Recommendations
Conclusion
63
6.0 Findings:
Job satisfaction is the total of the sentiments related with the job conducted. If
the worker perceives that his/her values are realized within the job, s/he
improvises a positive attitude towards his/her job and acquires job satisfaction
(Mc Cormic and Tiffin 1974:74). I heard a story that Mr. X worked in a
multinational company with a good designation.
As he works a multinational company so his salary, compensation and benefits
are global standard. He get a lot of facilities from rising to bed in the morning
to before going to bed at night. Now a million dollar question, Is he satisfied?"
After analysis and interpreting the data I tried to find that why the employees
are satisfied and why not?
SIBL is a private bank. So, the employees are getting more salary rather
than
the
nationalized
commercial
banks.
So,
from
this
view
the
employees of the SIBL are satisfied.

The salary range of the SIBL of the entry level is not sufficient with the
comparison of other private banks in Bangladesh. So, from this view
they are dissatisfied with their salary at the entry level.
The employees of SIBL enjoy much vacation rather than the other
private commercial banks. Such as female employees enjoy 3 months
maternity leave. The male employees also get paternity leave and the
length of the leave is 1 month.
The employees get a big amount of medical convenience two times in
their working period. So, they feel secured of health during their working
period.
SIBL provides more incentives rather than the other private banks. In this year
they provide 7 (seven) incentives excluding the Eid bonus on their profit.
To
keep
the
employees
motivated,
incentives,
performance
reward,
promotion and accelerated promotion etc. are given on a regular basis by

the SIBL authority.
The SIBL has introduced a good number of stuff welfare schemes.
Schemes to be a part with the banking communities and improve the
64
conditions of its employees such as contributory recognized provident

fund, gratuity fund, benevolent fund.
The working environment of the SIBL is very friendly. The employees are
satisfying with their co-worker as a work in a team.
In
banking
sector
some
employees
have
opportunity
to
upgrade
themselves in working period such as the employees of the IT, Foreign

Exchange, investment department. In other side the employees of the cash
& customer service department have no scope to show creativity in
working
period.
I thought its a boring job.
From this view they are
dissatisfied sometimes.
The accountants job is very important to the organization. They do a lot of
work from the day start to closing. I think one employee work on the
behalf of two peoples. Sometimes they feel stress that is harmful for them.
The job security of the SIBL is very rich. The employees never feel anxious
during their working period. Because the chance of being laid off is low,
except a major fault no employees can be laid off. The employees strongly
agree that they feel secured of their job.
We are the human being. Our mood and emotions while working are the raw materials
which cumulate to form the affective element of job satisfaction. Moods tend to
be longer lasting but often weaker states of uncertain origin, while emotions are
often more intense, short-lived and have a clear object or cause. There is some
evidence in the literature that state moods are related to overall job satisfaction
Positive and negative emotions were also found to be significantly related to
overall job satisfaction frequency of experiencing net positive emotion will be a
better predictor of overall job satisfaction than will intensity of positive emotion
when it is experienced Emotion regulation and emotion labor are also related to
job satisfaction. In SIBL I found that employees got satisfaction in some matters
and also dissatisfaction in some maters. So we can say that Employees don't get
full satisfaction in their job.
65
6.1 Recommendation:
The employees must be motivated when they do something good and creative.
The salary should be revising by the management of SIBL.
Their jobs should be mentioned more frequently.
Link between Customer Service Officers and Customer Service Manager
should be easier Up to date banking software should be used to give batter
service to the customers.
In addition, with the present services they should include more services. It is
badly needed to provide more services to the customer in order to compete in
the market.
Internal conflict among the employees should be mitigating.
Officials whom are involved in Customer Services should be trained properly.
Because some time they cannot give proper suggestions to the customer queries.
There are some benefit package having SIBL but it has no practice in real view.
That benefit package can be increase the satisfaction of the employee. So it
should be practice earlier.
66
6.3 Conclusions:
This study will finds the overall employees job satisfaction of Social Islami Bank
Limited. However, the job satisfaction of bank officers is significantly dependent upon
salary, efficiency in work, fringe benefit, supervision quality, and co-worker relations.
The remaining three factors, leadership style, loyalty to bank, and work ability do not
have significant statistical evidence to improve the job satisfaction of bank officers.
Bank type is found to be the most relevant with the bank officers job satisfaction in
comparison to work experience, age, and sex differences. The happier people are within
their job, the more satisfied they are said to be. Job satisfaction is not the same as
motivation, although it is clearly linked. Job design aims to enhance job satisfaction
and performance; methods include job rotation, job enlargement and job enrichment.
Other influences on satisfaction include the management style and culture, employee
involvement, empowerment and autonomous work groups. Job satisfaction is a very
important attribute which is frequently measured by organizations.
67
Appendix-1
The Questionnaires for SIBL Employees
SECTION: A
Your age:
______________________________
Your gender:
_____________________________
Your highest level of education: (Please tick one)
SSC:
HSC:
Bachelors:
Masters:
Others (please specify) ____________________
68
SECTION: B
JOB SATISFACTION SCALE
Complete the following questionnaire by filling the answer that best describes your
feelings about each statement. For each item, put your response according to the
following:
5=
4=
3=
2=
1=
Strongly Agree (SA)

Agree (A)
Neutral (N)
Disagree (D)
Strongly Disagree (SD)
QUESTIONS RANKINGS
NO.
1
2
3
4
5
QUESTIONS
A job where the pay is very good
A job where there is considerable is creative and
innovative.
A job where you are often required to make
important decisions.
A job in which greater responsibility is given to
those who do the best Work.
A job in which greater responsibility is given to
loyal employees who have the most seniority.
A job in an organization which is in to financial
trouble-and might have to close down within the
SA A
SD
(5)
(4)
(3)
(2)
(1)
year.
Jobs in which you are not allowed any say
7
whatever in how your work is Scheduled, or in

the procedures to be used in carrying it out.
A job where your co-workers are not very
friendly.
A job with a supervisor who is often very
critical of you and your work in front of other
10
people.
A job, which prevents you from using a number
69
11
12
13
14
15
16
17
18
19
20
of skills that you, worked develop.

A job with a supervisor who respects you and
treats you fairly.
A job which provides constant new and
interesting opportunities for you to learn.
A job where there is a real chance you could be
laid off.
A job in which there is a real chance for you to
develop new skills and advance in the
organization.
A job which provides lots of vacation time and
an excellent fringe benefit package.
A job with little freedom and independence to
do your work in the way you think best.
A job where the working condition are average.
A job with very satisfying team-work.
A job which requires you to challenge
completely isolated co-workers to contribute.
A job which allows you to use your skills and
abilities to the fullest extent.
70
Bibliography
Websites: http://www. www.siblbd.com

http://www.wikipedia.org
http://www.google.com
Reference Books / Report:
Annual Report
Fundamental of Human Resource Management
- David A. Decenzo
- Stephen P Robbins
71
Abbreviations
AOF
Accounting Opening Form.
ATM
Automated Teller Machine.
BAL
Banking Arrangement Letter.
BFS
Business Financial Service
BIBM
Bangladesh Institute of Bank Management.
BSSM
Branch Sales and Service Manager.
BFS
Business Financial Service.
BCA
Business Credit Application.
BIL
Business Installment Loan.
BDT.
Bangladesh Taka.
CIB
Credit Information Bureau.
CC
Credit Card
DP Note
Demand Promissory Note.
DBR
Debt Burden Ratio.
EVSA
Extra Value Savings Account.
EMI
Equated Monthly Installment.
FDR
Fixed Deposit Receipt.
FCY
Foreign Currency.
GBP
Great Britain Pound.
GB
General Banking.
OD
Over Draft
72
OSA
Operating Savings Account
PL
Personal Loan
PFC
Personal Financial Consultant.
PDC
Post Dated Cheque.
PIN
Personal Identification Number.
RMG
Ready Made Garments.
STD
Short Term Deposit.
SOD
Secured Over Draft.
TP
Transaction Profile
TIN
Telephone Identification Number.
UDC
Undated Cheque.
VAT
Value Added Tax.
WEDB
Wage Earners Development Bond.
73

Chapter - 01: Intern Report On Evaluation of Job Satisfication of Social Islami Bank Limited

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INTERN REPORT ON EVALUATION OF JOB SATISFICATION OF SOCIAL ISLAMI BANK LIMITED

INTERN REPORT ON EVALUATION OF JOB SATISFICATION OF SOCIAL ISLAMI BANK LIMITED

1.1 Statement of the Problem:

1.2 Rationale of the Study:

1.3 Background of the Report:

INTERN REPORT ON EVALUATION OF JOB SATISFICATION OF SOCIAL ISLAMI BANK LIMITED

prime development financing institution continued its effort to make an effective

1.4 Objective of the Report:

1.5 Scope of the Report:

INTERN REPORT ON EVALUATION OF JOB SATISFICATION OF SOCIAL ISLAMI BANK LIMITED

INTERN REPORT ON EVALUATION OF JOB SATISFICATION OF SOCIAL ISLAMI BANK LIMITED

BANKING SECTOR IN BANGLADESH

INTERN REPORT ON EVALUATION OF JOB SATISFICATION OF SOCIAL ISLAMI BANK LIMITED

2.1 Definition of Bank:

2.2 Objective of Bank:

INTERN REPORT ON EVALUATION OF JOB SATISFICATION OF SOCIAL ISLAMI BANK LIMITED

facilitating mergers and other corporate reorganization, acting as a broker for

2.3 Historical Background of the Bank:

INTERN REPORT ON EVALUATION OF JOB SATISFICATION OF SOCIAL ISLAMI BANK LIMITED

2.4 Banking Operations in Bangladesh:

INTERN REPORT ON EVALUATION OF JOB SATISFICATION OF SOCIAL ISLAMI BANK LIMITED

INTERN REPORT ON EVALUATION OF JOB SATISFICATION OF SOCIAL ISLAMI BANK LIMITED

percent in FY 1987, while advances to private manufacturing rose from 13 percent to

INTERN REPORT ON EVALUATION OF JOB SATISFICATION OF SOCIAL ISLAMI BANK LIMITED

Uttara Bank Limited

INTERN REPORT ON EVALUATION OF JOB SATISFICATION OF SOCIAL ISLAMI BANK LIMITED

INTERN REPORT ON EVALUATION OF JOB SATISFICATION OF SOCIAL ISLAMI BANK LIMITED

2.4.6 Specialized Development Banks:

INTERN REPORT ON EVALUATION OF JOB SATISFICATION OF SOCIAL ISLAMI BANK LIMITED

INTERN REPORT ON EVALUATION OF JOB SATISFICATION OF SOCIAL ISLAMI BANK LIMITED

3.0 Organizational Overview:

3.1 Historical Background of SIBL:

INTERN REPORT ON EVALUATION OF JOB SATISFICATION OF SOCIAL ISLAMI BANK LIMITED

INTERN REPORT ON EVALUATION OF JOB SATISFICATION OF SOCIAL ISLAMI BANK LIMITED

a compliant organization. The Corporate Governance systems in SIBL ensure

3.2 Formation of Social Islami Bank:

3.3 Objectives & Goals of SIBL:

INTERN REPORT ON EVALUATION OF JOB SATISFICATION OF SOCIAL ISLAMI BANK LIMITED

3.4 Vision & Mission of SIBL:

INTERN REPORT ON EVALUATION OF JOB SATISFICATION OF SOCIAL ISLAMI BANK LIMITED

3.5 Strategic Objectives & Commitments:

INTERN REPORT ON EVALUATION OF JOB SATISFICATION OF SOCIAL ISLAMI BANK LIMITED

To the other Stakeholders

3.6 Corporate Social Responsibility (CSR):

3.7 Corporate Profile:

INTERN REPORT ON EVALUATION OF JOB SATISFICATION OF SOCIAL ISLAMI BANK LIMITED

For SIBL Securities Limited

For SIBL Investment Limited

For Offshore Banking

Listing Status (Shares)

: 9011046380 Area Code: 90101

INTERN REPORT ON EVALUATION OF JOB SATISFICATION OF SOCIAL ISLAMI BANK LIMITED

DSE: Taka 19.40

INTERN REPORT ON EVALUATION OF JOB SATISFICATION OF SOCIAL ISLAMI BANK LIMITED

3.8 SIBL at a Glance:

INTERN REPORT ON EVALUATION OF JOB SATISFICATION OF SOCIAL ISLAMI BANK LIMITED

3.9 Functions of SIBL:

INTERN REPORT ON EVALUATION OF JOB SATISFICATION OF SOCIAL ISLAMI BANK LIMITED

3.10 SIBL Products & Services:

Mudaraba Scheme Deposits

SIBL Credit Card

Al Wadiah Current Account

Visa Islamic Credit Card (Dual)