A study on Functions of

NRB Global Bank Limited & the

role of the company to develop
economy of Coxs Bazar

Submitted To,

Tanvir Mohammad Hayder Arif

MSc. International Business Management (UK), MBA in Finance (CU, BD)
Associate Professor, Department of Finance and Banking
University of Chittagong
Academic Advisor, Coxs Bazar International University

Submitted By,

Mimosa Group
Bachelor of Business Administration

Coxs Bazar International University

Date of Submission

7th October, 2015

Group Profile

Name

ID

Umma Kulsum Shampa

Taslima Akter
Kahinoor Akter
Tanvin Arafath
Shahena Akter Urmi
Joynab Bagum
Marthy Mro

2014101067
2014101013
2014101047
2014101015
2014101069
2014101049
2014101029

Introduction
Bank plays an extreme role in the development process of a country as it helps to accelerate the
pace of development by securing continuous supply of financial resources to people engaged in
numerous economic activities. Now a days banking sector is modernizing and expanding its
hand in different financial events every day. In order to survive in the competitive field of the
banking sector all organization are looking for better service opportunities to provide their fellow
clients.
So its become essential for everyone to have some idea on bank and banking procedure. for our
study purpose we selected NRB global bank limited coxs bazar branch for completing our
assignment.

Aim and objectives of the report:

There are three objectives. Those are:
1. to know about bank
2. to analysis various function of banking
3. to evaluate the role of NRB global banking to develop the economy of coxs bazar.

NRB global bank limited:

NRB means Non Resident Bangladeshis. NRB global bank is one of the private commercial
bank which is monitored and controlled by Bangladesh bank. the central bank has approved three
new commercial bank sponsored by non-resident Bangladeshi people residing in different
countries of the world. it has been approved by the regulatory bodies in 2012 to operate business
in banking of Bangladesh,.
After hard labor of almost three year complying with all regulatory rules and regulation it has got
the final approval on July 25, 2013 from the regulatory body to run the banking business in
Bangladesh.
Mr Nizam Chowdhury is the founding chairman of this bank having a long professional
experience of 26 years in the USA and other directors are also reputed in the own sector
business. These nice personalities have well defined mission and vision.

Mission of the bank:

1. Build confidence among the NRBs for investment.
2. Provide fast, accurate and adequate customer service upholding business ethics and
transparency.
3. strengthen inflow of remittance
1|Page

4. create value for communities, societies and economies in which we operate by ensuring
growth and sustainability
5. matching technology with the help of well educated professionals and experienced
sponsors of the bank
6. Create dignified working environment for employees.

Vision of the bank:

to become exceptional brand in the financial sector by offering service excellence and creating
value for everybody encompassing customers, shareholders partners, society and economy
through transparency, technology, innovation and integrity.

Goal of NRB global bank:

to provide great experience of banking at home and abroad.

Profile of NRBGB:
particular
getting NOC from Bangladesh bank
consent from BSEC for raising paid up
capital
date of incorporation from RJSC
date of commencement of business
License from Bangladesh bank for head
office
listed as a schedule bank
opening of head office
license from Bangladesh bank for Gulshan
operation of gulshan corporate branch

List of the NRBGB branches:

1.
2.
3.
4.
5.
6.
7.
8.
9.

Gulshan corporate branch

motijheel branch
nayapaltan branch
mawa branch
ulokhola branch
agrabad corporate branch
panchagachia bazar branch
gunabati branch
dohazari branch

date
June 19, 2013
July 07, 2013
July 21, 2013
July 21, 2013
July 25, 2013
July 29, 2013
September 09, 2013
October 10, 2013
October 23, 2013

10. patherhat branch

11. uttara branch
12. dhanmondi branch
13. coxs bazar link road branch
14. anwara branch
15. nasirabad branch
16. jubilee road branch
17. banani branch
18. beldi bazar branch
19. ashulia branch
20. nandiapara bazar branch
21. adhunagar branch
22. khatungonge branch
23. khulna branch
24. bogra branch
25. sylhet branch
26. panchagachia branch

Products and services:

NRB global bank is offering the following product or services to the client for financing different
purpose that fulfill the requirement of the bank and habe good return to the investement as well
as satisfy the client.

Retail banking products:

This back offers various products of retail banking such as:
1.
2.
3.
4.
5.
6.
7.
8.
9.

NGB DPS (allow to build up savings through regular monthly deposit)

NGB double benefit (help to double deposited money on maturity)
Fixed deposit ( higher interest on saving for long term investment)
NGB monthly benefit (helps to earn extra income from every month of deposited money
which lets to early benefit every month)
NGB professional loan (personal loan facility for self empoyed professionals like doctors,
engineers and marines etc.)
Senior citizen benefit plan ( benefit plan for the senior citizen to carry out day to day
bank transactions independently)
NGB pre paid card
NGB debit card
NGB executive (Term loan facility for any legitimate purpose designed especially for
salaried executives at different corporate both permanent and contractual)

10. NGB salary account ( employer can credit monthly salary/paycheck every month will
credit to account)
11. NGB festivals(to meet festival expenses)
12. NGB freshers (for students)
13. NGB junior (For children aged between 3 to 18 years but account is operated by parents
until child attain her maturity (age 18)
14. NGB marriage loan (For covering the marriage expenses)
15. NGB perfect (Allows an individual to manage savings and transaction simultaneously)
16. NGB queen ( an interest bearing account designed exclusively for woman)
17. NGB travelers (a travel purpose loan which means the applicant has to declare his/her
inland/outland travel purpose )

Loan products:
The loan advance products are:
1. personal loan: car loan, house loan, education loan
2. project financing
3. working with capital financing
4. working capital financing
5. agriculture financing
6. consumer financing
7. lease financing
8. SME financing
9. House building financing
10. import financing
11. export financing
12. NGB adhoc loan
13. NGB travel loan
14. NGB marriage loan
15. NGB executive loan
16. NGB festival loan

Foreign trade product:

Foreign trade products that are offered by NRB are as under:
1.
2.
3.
4.
5.

Letter of credit (L/C)

back to back letter of credit (BTBL/C)
Foreign demand draft (FDD)
IDBC (inland brick to brick local L/C)
IDBP (inland documents bill purchase L/C)

6. Remittance products: pay order (PO), demand draft (DD)

Other service products:

1.
2.
3.
4.
5.
6.

corporate banking
tele banking
SMS banking
ATM card
Mobile banking
Locker service

Overview of coxs bazar branch:

NRB global bank coxs bazar branch situated in coxs bazar link road, arif market, Chittagongcoxs bazar main road (shohortoli link road) union-10 no zilongja, PO: link road, PS: coxs bazar
sadar. it start activities at coxs bazar from 18th September 2014. its total employees are 25
supports stuffs 9. the number of officer are 16. mr. abu naim mohammad misbaul hoque is the
senior principle officer. NRB global bank has an ATM booth in coxs bazar which situated in
kolatoli hotel-motel zone.
Organogram of NRB global bank to rank of coxs bazar
Head of
Branch

Operation
Manager

General
Banking
Incharge

GB

CSO

Foreign
Exchange
Incharge

Credit Incharge

cREDIT
aNALYST

CAD

Export Officer

Import Officer

IDBC

different part of general banking of NRB global bank:

General
Banking

Account
Opening
Section

Clearing
Section

Cash Section

general baknking department constitute of the following section:

Accounting opening section:
Banking business is very much correlated with banker customer relationship. account section
established that relationship by opening a new account for the customer.
job description:
1.
2.
3.
4.
5.
6.
7.

opening different types of account

handling operation of different types of accounts
responsible for issuing if cheque book
transferring and closing different types of account
giving accounts statement to the clients
making different vouchers regarding above transaction
Giving support to the clients of the bank and so on.

Types of account:
1.
2.
3.
4.
5.

current account
saving account
fixed deposit (FD)
short term deposit
foreign currency (FC)

Cheque: it is written dated and signed instrument that contains an unconditional order from the
drawer that directs a bank to pay a definite sum of money to a payee. in legal terms a cheque is a
bill of exchange where the drawee is a bank. This is signed by the account holder directing a
certain person to pay certain amount of money only to do the order of certain person.
Issue of a cheque bank: at the time of opening an account a person is required to sign a cheque
book requsitionship, if the account opening from is found complete in all respects, a cheque book
is issued to client the account number is written in cash leaf of the cheque book and in it
requisitions hip.
Clearing Section:- Clearing a check means processing it so that funds are deducated from the
payers account and put into the payees account.NRBGB go through the process of setting
transactions between banks. Because so many transactions take place between banks on a given
day, Bank clearing exists to process what each party owes or is owed in a central location so the
least amount of money actually changes hands.
Job Descriptions: Issuing cheques
Giving 3 clearance seals on cheques (1 crossing seal and 2 endorsement seals).
Categorizing cheques according to high value (500000 tk above 500000 tk) and regular
value (below 500000 tk) allocation.
Giving posting in the system software
Dishonoring cheques if any specific reason comes across
Passing cheques after declaration of Bangladesh bank (central bank of Bangladesh)
Giving account statement to the clients if her or she wants to know.
Inward cheques:
It means what are sent to the outside. Outward clearing cheques are own banks cheques which
are presented on the other concerned banks for collection through clearing house of Bangladesh
Bank.

Outward cheques:It means what are receives from the outside. Outward clearing cheques are those ones which
have drown from the other banks which will be cleared / honored through the internal clearing
system of NRBGB.
Clearing seal:There are three necessary seals without which cheque cannot be either accepted or passed. They
are one crossing seal and two endorsement seal. In crossing seal the name of NRBGB is written
on the other hand one endorsement seal in known as clearing seal where date and clearing must
be given. In another seal payees A/C credited for NRBGB is written. The out horizon put his or
her signature on it for authorization and issuance of the cheque.
Software:- NRBGB use Temenos T24 software for clearing cheques. It is mainly such kind of
software making companies which only make various customized software for banking activities
of banks.
Cash section:
Cash is one of the most important sections of general banking department because it deals cash.
This department is mainly engaged with cash receipt and cash payment.
Job description:

Receiving cash

Paying cash

Issuing vouchers

Keeping record receipts.

Receiving of cash:
Receipt of cash is the source of cash at branch. It may be from customer, from central bank, from
any other bank or any other branch of the same bank.
Receiving Process:

Checking of deposit vouchers account amount word and figures.

Count the cash if possible manually or by the counting machine.

Check the notes-Mutilated, Mismatched or forged.

Put signature in the deposit voucher including counter foil.

Pass on the credit voucher with counter foil to the receiving cashier.

It the close of business hour sum up the register and tally it with the receiving registers.

Totaled the entries and match it with the receiving total.

Count the no. of vouchers

Checked by officer and countersigned cash is used by a bank for the payment to its
customer and the surplus cash is remitted to cash feeding bronch.

Payment of cash process:

Every payment must be paid is due course

Analysis of the instrument before payment.

Passed for payment by canceling officer.

Amount, date, endorsement / order/ bearer

Obtain bearer signature on the back side of the instrument

Verify signature with the same obtained at the time to token.

Write value on backside of the instrument

Affix cash paid stamp no, 26in the face of the instrument.

Entry figure of the instrument in paying cashier book no.

Return the un-paid instruments.

Total the entries and balance it with the token and tally total.

Write in word the total amount and put signature

Release of paid instrument from the paying cashier book.

Send the vouchers to the respective department.

Cash balancing:
1) All employee related to cash must ensure the balancing of cash has done correctly on
daily basis for balancing of cash following works have to perform.
2) All cash register must be totaled singed.

3) Balancing them with each other.

4) All register must be dully counter signed by checking officer.
5) Balancing the register with the physical cash.
6) Write cash balancing book.
7) Ensure accounting of balance is correct.
8) Prepare cash cum day book.

Role of NRB Global Bank to develop the economy of Coxs Bazar:We all know that The bank is the life blood of modern economy.
By the collection of savings and capital formation NRB global bank plays a role to develop the
economy condition of Coxs Bazar .
No business can run without banking. NRB global banks gives loans to the SME, for smoothly
running their business.
NRB global bank plays an important role to create employment in Coxs Bazar which also a part
of economic development.
Its also gives loans to the woman entrepreneur which helps those helpless people to reached
their own or position. This bank also gives loans to the students for completing their higher
education.
Though it is a new bank but its ready to gives loans and helps to the hotel and motel which is
also a big part of economic development of Coxs Bazar.

Findings and Analysis

If we talk about the deposit of the NRBGB then we see that there deposit forget was 26cr and
they achieve 23cr. Which is really a good performance as it is new in bank industry.
Then if we see their opening account forget the see that their forget was 2000 but their
achievement is 1400. They fail to open 600 accounts actually which is not so good. There section
loan target was 200cr. But they give loan only 13cr. Tk. Because they dont find any profitable
section for giving loan.
There main target was gain breakeven point but the fail to achieve it and there lose is 5cr. Tk.
After analysis there function and their activities we see that they are doing general banking
function. Nothing is unique then other bank.

Conclusion:- The bank is the nerve center of modern economy. So its very needed for every
people to know about the bank and banking for this purpose we made a assignment on NRB
global bank. It is a great experience for all of us to visit NRB global bank and gather information
from the bank. By the process we know that the activities on function of this organization their
mission, vision, and how they play the role to economic development of Coxs Bazar.
Though they have some limitation but they try hard to give better service to their client.
Recommendation:It is really difficult to recommend NRBGB although it is new in banking industy. We tried to
gives some recommendation on the basis of our findings to the study. The Recommendation are
given below:1) During the account opening period the officer must inform each and every detail to open
specific account so that the client doesnt face any problem of further processed.
2) They have to record their all information properly about their brench so that every people
can gain their information when they needed.
3) They have to arrange some workshop for their employee so that their employee can use
to about new technology and there uses.
4) We also think that they have to do some marketing their branch because its a totally new
for Coxs Bazar.

Appendix

Deposit Target (Cr)

26.5
26
25.5
25
24.5
24
23.5
23
22.5
22
21.5
Target

Achievement

Account Opening
2500

2000

1500

1000

500

0
Target

Achievement

Loan (Crore TK)

25

20

15

10

0
Target

Achievement

Bibliography
Websites & Journals
NRB Global Bank, financial institution.
Available at: [Official Website]
(Accessed on: 29.09.2015)