1 Internship Report on First Security Islami Bank Limited Internship

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Internship Report on First Security Islami Bank Limited

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Internship (BBA-499A), Spring 2018

Submitted to:
Mr. Masnoon Salehin
Lecturer, Department of Human Research
School of Business
Independent University, Bangladesh

Submitted by:
Tanvir Hossain
ID NO: 1430076

Date of Submission: July 22, 2018

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Letter of Submission

July 22, 2018

Mr. Masnoon Salehin
Lecturer
School of Business
Independent University, Bangladesh.

Subject: Submission of Internship Report.

Dear Sir,
I would like to submit my internship report to you for your perusal. I enjoyed
preparing this report, which enriched my partial knowledge of the theoretical
concept. While preparing this report, I tried my best to follow the instructions that
you have given me. The entire report is based on my practical experience in the
bank.

I will be very glad if the report can serve its actual purpose and I am ready to
explain anything to you if you feel necessary.

Sincerely,
Tanvir Hossain
ID No: 1430076
Major in Marketing
School of Business
Independent University, Bangladesh.

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Acknowledgement

At first I want to express my gratitude to Almighty Allah for giving me the strength and the
composure to finish the task within the scheduled time. Then I am very grateful to the First
Security Islami Bank Limited for providing me the opportunity to complete my internship
program.

I received cordial cooperation from the officers and members of staffs of First Security Islami
Bank Limited, Kuril Bishow Road Branch. I want to express my cordial gratitude to them for
their cooperation without which it would not be possible to complete the report.

I would like to express my deep sense of gratitude and sincere appreciation to my internship
supervisor Mr. Masnoon Salehin, Lecturer, School of Business, Independent University,
Bangladesh, for his continuous support and enormous help throughout this internship program,
especially his guidance’s during the period of preparing the report.

His suggestions and comments were really a great source of spirit to make the report a good one.
I am indeed grateful to Mr. Md. Amir Hossain, SAVP and Operation Manager of First Security
Islami Bank Ltd. Kuril Bishow Road Branch for giving me the excellent opportunity to do my
practical orientation in his branch. I am also thankful to Mr. Md. Eaqub Ali, Principal Officer
of First Security Islami Bank Limited for giving me valuable information regarding this report.
At last I would also like to convey my thanks to all officials of the Kuril Bishow road Branch of
First Security Islami Bank Limited for their voluntary help and cooperation.

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Table of Content

Chapter 1: Introduction

1.1.1 Company profile:………………………………………………………………………………. 7
1.1.1 Vision, mission, objective: …………………………………………………………………. 8
1.1.2 Corporate Division/department:……………………………………………………..8-10
1.1.3 Details of the product lines or services:………………………………………….10-11
1.1.4 CSR: ………………………………………………………………………………………………..12

Chapter 2: Internship Experience

2.1 Job responsibilities: …………………………………………………………………………… 14
2.2 Functions of the department: ………………………………………………………… 15-16

Chapter 3: Analysis and Recommendation

3.1 Problems/challenges faced/identified in the workplace:……………….18-19

3.2 Analyze the issue based on relevant theory: …………………………….20-22

3.3 Recommendation:……………………………………………………………23

Chapter 4: Conclusion

4.1. Conclusion: ………………………………………………………………………………………. 25

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Executive Summary

As our educational system is generally text based, inclusion of practical orientation program, as
an academic component is an exception to the norm. Recognizing the importance of practical
experience, twelve weeks’ practical exposure is one of the most important parts of B.B.A.
program. This is because theoretical knowledge gets its perfection with practical application. By
an internship program in bank, students can get practical knowledge, which helps to know the
real life situations, helping them to launch a career with some practical experience.
So I need proper application of my knowledge to get some benefit from my theoretical
knowledge make it more tactful. Such theoretical knowledge is obtained from a course of study
at only the half way of the subject matter. Report paper implies on other the full application of
the method and procedures through rich acquire of subject matter can forcefully applied in my
day to day life situation. Such a procedure of practical application is known as report paper.
This report is submitted to my internship supervisor Mr. Masnoon Salehin after completion of
the twelve weeks internship program in the First Security Islami Bank limited at Kuril Bishow
Road branch. Authority gave me the opportunity to work at the twelve week.

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Chapter 01

Introduction

1.1 Company profile

1.1.1 Vision, mission, objective etc.

1.1.2 Corporate Division/department etc.

1.1.3 Details of the product lines or services

1.1.4 Operation details

1.1.5 CSR

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Chapter one: Introduction

1.1 Company profile:
The First Security Islami Bank is a Bank which was incorporated on the 29th August, 1999 as a
Banking Company under the companies Act 1994 to carry on the banking Business. It obtained
permission from Bangladesh Bank on 22nd September, 1999 to commence its Business. It has
started its operation as a commercial bank on the 25th October, 1999 with a branch at Dilkusha.
At present the Bank have 168 branches, 131 ATM booth and 131,689,7 Plus happy customers of
its 18 years of Banking. It renders all types of commercial banking service to the customers of
the society with in the stipulations laid down the banking company act 1991 and rules and
regulation are being compromised by Bangladesh Bank time to time. Diversification of products
and services and innovation of products suited to the needs of the customers in keeping with
relevant rules and laws have made it different from other commercial banks of the country.
Corporate Banking and Personal Banking are the special strength of First Security Islami Bank
Ltd (FSIBL). It maintains a strong relationship with all the banks of the country and all the
customers of the bank. The First Security Islami Bank Ltd (FSIBL) is a solid, forward looking
and modern local bank with a view to ensure sound performance. The effort that First Security
Islami Bank Ltd trying to portray the bank as a brand image as very strong and successful. The
general image is that it is the ?Symbol of Security. In 1999 the authorized capital of the bank
was BDT 1500 billion and paid up capital was BDT 200 million. By the end of 2009 the paid up
capital was BDT 2300 million. From 2009 the bank started sharia banking. Bangladesh Sports
Press Association (BSPA) in 2014 awarded the bank best sponsor.

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1.1.1 Vision, mission, objective etc.
Vision:
To be the premier financial institution in the country by providing high quality products and
services backed by latest technology and a team of highly motivated personnel to deliver
excellence in Banking.
Mission:
? To contribute to the socio-economic development of the country.
? To attain the highest level of satisfaction through the extension of services by dedicated
and motivated professionals.
? To maintain continuous growth of market, share by ensuring quality.
? To ensure ethics and transparency in all levels.
? To ensure sustainable growth and establish full value of the honorable shareholders and
above all, to contribute effectively to the national economy.

1.1.2 Corporate Division/Department etc
There are basically three functional departments in First Security Islami Bank. These are
1) General Banking.
2) Foreign Exchange.
3) Loan & Investment.
1. General Banking:
General banking is the side where banks offer different alternatives to the clients to deposit and
remit their money. Accounts division is also included in general banking. To encourage the
clients, bank offers different options in front of their clients. Most of these options are very much
similar between the banks, but the customer services and facilities may not be the same. First
Security Islami Bank Limited has variety of services provided to the retail as well as for
corporate clients.

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2. Foreign Exchange:
Foreign exchange is the means and methods by which rights to wealth in a country’s currency is
converted into rights to wealth in another country’s currency. In banks when we talk of foreign
exchange, we refer to the general mechanism by which a bank converts currency of one country
into that of another. Foreign Exchange Department (FED) is the international department.
Bangladesh Bank issue license to scheduled banks to deal with foreign exchange. These banks
are known as Authorized Dealers. If the branch is authorized dealer in foreign exchange market,
it can remit foreign exchange from local country to foreign country through Western Union,
Placid, MoneyGram, Express Money, RIA, IME Remit, Trans First etc.
3. Loan and Investment:
This is the survival unit of the bank because until and unless the success of this department is
attained, the survival is a question to every bank. If this section does not work properly, the bank
itself may become bankrupt. This is important because this is the earning unit of the bank. Bank
are accepting deposits from the depositors in condition of providing profit to them as well as safe
keeping their profit. Now the question may gradually arise how the bank will provide profit to
the clients and the simple answer is Investment and Advance.
FSIBL provides different types of investments including Bai-Murabaha (Deferred Lump Sum/
Installment Sale) ,Bai-Muajjal (Deferred Installment / Lump Sum Sale) ,Ijara (Leasing)
,Musharaka (Joint-Venture Profit-Sharing) , Mudaraba (Trustee Profit-Sharing), Bai-Salam
(Advance Sale and Purchase) ,Hire-Purchase , Direct Investments , Post Import Investment ,
Purchase and Negotiation of Export Bills ,Inland Bills Purchased ,Murabaha Import Bills ,Bai-
Muajjal Import Bills ,Quard-ul-Hasan (Benevolent Investment)Therefore, there are generally
five departments always remain active in any branch of this bank.
A. Account Opening Department,
B. Cash Department,
C. Accounts Department,
D. Clearing Department,
E. Investment Department.

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A) Account Opening Department: The main task of this department are Account opening,
Account closing, Account transfer, giving bank statement, bank certificate, dispatch, issuing
check book and savings book.
B) Cash Department: The main tasks of the cash department are Receiving Cash from Clients
and Paying against instrument. Instead it also maintains the locker service.
C) Account Department: All kinds of preservation of documents/voucher, paying bills, paying
salary is the main task of this department.
D) Clearing Department: Receiving all kinds of inward & outward checks for collection/
payment, issue pay order/ pay slip is the main task of this department.
E) Investment Department: In this department, consumer credit scheme criteria are served with
their different facilities. The facilities categorized as Consumer Credit Scheme are Bai-Murabaha
(Deferred Lump Sum/ Installment Sale), Bai-Muajjal (Deferred Installment / Lump Sum Sale),
Ijara (Leasing) ,Musharaka (Joint-Venture Profit-Sharing) ,Mudaraba (Trustee Profit-Sharing)
,Bai-Salam (Advance Sale and Purchase) .
1.1.3 Details of the product lines or services:
Deposit Schemes:

Al-Wadiah Current Deposit Account, Mudaraba Savings Deposit Account, Mudaraba Special
Notice Deposit Account, Mudaraba Term Deposit Account, Onkur Account – Mudaraba

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Students Savings A/C (School Banking), Projonmo – Mudaraba New Generation Savings A/C,
Uddipon- Mudaraba New Generation Deposit Scheme, Alo – Mudaraba Education Deposit
Scheme, ShuvessaMudaraba Gift Cheque, Mudaraba Deposit Double Scheme, Mudaraba
Deposit Triple Scheme (Triple Benefit), Aroba – Mudaraba Deposit Four Times Scheme, Prapti
– Mudaraba Salary Savings Account, Mudaraba Monthly Profit Scheme, Mudaraba Cash Wakf
Deposit Scheme, Mudaraba Hajj Savings Account, Zakat Fund, Morjada – Al-Wadiah Current
Plus Account, Somman – Al-Wadiah Premium Account, Agroshor – Mudaraba Millionaire
Deposit Scheme, Unnoti – MudarabaCrorepoti Deposit Scheme, Mehnoti- MudarabaSromojibi
Savings Account, Proyas – Mudaraba Money Plant Deposit Scheme, Probin – Mudaraba Senior
Citizen Savings Account, Gharoni – Mudaraba Housewife Deposit Scheme, Bondhon –
MudarabaMarriage Deposit Scheme, Niramoy – Mudaraba Health Care Deposit Scheme,
Aboshor – Mudaraba Pension Deposit Scheme, Mudaraba Monthly Deposit Scheme, Shadesh –
Mudaraba Emigrant Deposit Scheme, Shadesh – Mudaraba Emigrant Deposit Scheme.
Investment Schemes:
Bai-Murabaha Investment includes Bai-Murabaha (Hypo/General/Real Estate
Material/Pledge/TR/ Local Purchase), Hypo under SME, EMI under SME, Agriculture, Hypo
against MTDR and other Deposit Schemes.
Hire Purchase under Sirkatul Milk (HPSM) Investment in HPSM (House Building-Residential),
Real Estate / Commercial, Transport Bus / Truck / Launch / Cargo / vessel, Auto-Car, CNG
Three wheeler, Microbus, Machinery, Industry, Consumer Durables Scheme, Lease / Ijara
Investment, Car Lease (Staff), House Building (Staff).

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1.1.5 CSR

Islamic banks undertake and implement various types of social programs under Corporate Social
Responsibility (CSR) activities. Sources of funds of Islamic banks available for CSR activities
include Zakat, compensation charges and Shariah-permitted other sources of earnings. These
funds are spent among different types of education, training, health and charity-based
organizations in Bangladesh. Islamic banks serve the deprived and disadvantaged segments of
people, who, because of extreme poverty, remain outside the purview of the conventional
banking system; the banks make financial transactions based on human necessities and embark
upon productivity-oriented projects or activities to reduce the incidence of poverty. Expenditure
on CSR activities increased by 44.92% in this quarter compared to the previous quarter. At the
end of 2016, total expenditure on CSR activities of Islamic Banking Industry stood at Tk.48.59
crores.FSIBL also have the part of contribution as corporate social responsibility from the
establishment to present in yearly basis allotment for CSR from the portion of fund. Their
contributions are mainly classified into education, health, disaster management, environment and
cultural sector. In 2016, First Security Islami Bank contributes 15.17 cores that are 24% of total
contribution of Islamic Banking Industry.

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Chapter 02

Internship experience/ observation details

2.1 Job responsibilities

2.2 Functions of the department

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2.1 Job responsibility:
As an intern I have joined First Security Islami Bank Limited Kuril Bishow Road branch on June
3th 2018 and successfully completed my three months’ internship. In this short period of time I
got chance to work in accounts department, general banking department, clearing department,
foreign exchange department and human resource department. The knowledge I have learned
from different departments is given below.
? First of all, I learned how to opening a bank account in the general banking section.
? Taking necessary document from new account holder like: Passport size photo of the
account holder and nominee, Photocopy of NID, birth certificate of account holder and
nominee, source of income document, account holder address, phone number etc.
? Helping customer for opening new account.
? Learned about Mudaraba Saving Deposit and Al-wadia current deposit. Taking request
from customer for new Cheque book and taking back the old one if available.
? Learnt about different saving schemes like kotipoti, Shugrihini, Hajj and Denmohor.
? Keep record of official letters, cheques, memorandums, inward and outward letter, and
different information in the respective register books.
? Verified the NID of customer by using government NID server to find out particular NID
is real or fake.
? Inform customer about their ATM Card that your card is ready and you can collect it
from the branch.
? Note down the L/C number in the L/C registry book with the name and other information.

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2.2 Function of the department:
2.2.1 General Banking:
General banking is the side where banks offer different alternatives to the clients to deposit and
remit their money. Accounts division is also included in general banking. To encourage the
clients, bank offers different options in front of their clients. Most of these options are very much
similar between the banks, but the customer services and facilities may not be the same. First
Security Islami Bank Limited has variety of services provided to the retail as well as for
corporate clients. General banking activities of the First Security Islami Bank Ltd. Are included:

Account Opening: In accounts opening there is a relationship between the banker and the
customer. Initially all the accounts are opened with a deposit money by the customer and hence
these accounts are called deposit account. Usually a person needs to open an account on take
services form it. Without an opening an account, one can get only a few services from the bank.
So the banking begins actually by opening an account with a bank.
Account Closing: It is a general right for each account holder to close his or her account at any
time if he /she is inconvenient to continue. But it requires also some formalities. The person
needs to apply an application to the manager of the specified branch mentioning the reason for
account closing also the date when he/she would like to close the account by paying closing
charge.
Online Banking: FSIBL Online Banking includes balance inquiry, limit inquiry, profit details,
term deposit details, investment repayment schedule, cheque book details, clearing, cheque
status, transaction details, customer information, statement request, cancelling cheque request,
address change request, cheque book requisition, password change, EMI calculator.
SMS Banking: First Security Islami Bank welcomes to access banking needs from anywhere
anytime. It is indeed a fast, secure, convenient and quickest way of banking. The service is
available round the clock 24×7 a week. People can get real-time banking information and in
touch any time with FSIBL from their mobile. They can check balance, account information, or
even get mini account statements through FSIBL SMS banking service.

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ATM Banking: First Security Islami Bank Ltd. has implemented successfully Automated Teller
Machine (ATM) card transaction from June 25, 2008. Through Automated Teller Machine
(ATM) /Debit card, customer can avail the facilities like withdrawal money, balance inquiry and
purchase goods from Point of sale (POS).
Mobile Banking: Features of FSIBL Mobile Banking are convenient, faster electronic fund
transfer, safe payment system, cash withdrawal, fund transfer facilities, widely available
throughout the Country, simple account opening.
Cheque Book House: On the submission of the requisition slip attached with the cheque book
given during the account opening, the assigned person or the person authorized by the account
holder will be given a cheque book.

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Chapter 03

Internship outcome/Issue Analysis

3.1 Problems/challenges faced/identified in the workplace

3.2 Analyze the issue based on relevant theory

3.3 Recommendation

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Chapter 03: Issue analysis
3.1 Issue analysis:

Challenges:

Firstly:
? Segmentation of the total market is a active part of general bank marketing where the
bank should look and the segmentation are need to create with a proper way .when I was
there for the last three month I saw few segmentation mistakes in the bank for general
banking marketing strategies.

? Where customer satisfaction also depends on marketing segmentation customers always
demand a good proper segment of the service of individual section of the service of the
bank.

? Bank is a service sector so the segment of every individual sections are important .as we
know that the bank is running a Islamic banking system so the segment names are define
in Arabic their customers have faces problems.

Secondly:

? Customers are in general in the market they don’t know the service they want only they
know a need of a bank service the banking target market need to identify abjectly the
proper way.
? A particular group of people for a few specific services of the bank where the service can
identify the need of the customers. When the bank target the right segment much they
able to reach to their target.
? Identification of the right group of people for the banks specific service.

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Thirdly

? Differentiation and any commercial bank should first have a clear vision and customer
profile that they’re moving toward.

? Marketing is increasingly important in today’s banking environment where every bank is
trying to grave the maximum share of the market where differentiation is much
important.

? The larger banks spend a lot of money on research and development so they are always
able to understand the market differences.
?
Fourthly
? Place the proper marketing strategies to right place for attracting the selecting customer
group advertisements in TV Radio, News papers and digital media.
? Customers need to know a cleared image of the service that they are looking for ,the bank
task is to create that image on the eye of the customers so that they have a positive
thinking about the bank.
? Market positioning of a service or product must be maintained over the life of the service
or product. Like in the bank their general banking to the customers.

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3.2 Analyze the issues based on relevant theory

Most of the internal and external issues that I have already mentioned are highly relevant with
customers driven marketing strategies. Where it will show the market situation and where to
promote the service target customer group, segmentation, differentiation, and positioning.

Segmentation Differentiation
Target market Positioning

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Segmentation:

The goal of segmentation is the concentrated of marketing energy and divided the market in to
subdivisions to achieve competitive advantage from the segment. It is analogous to the military
principles of concentration of force to overwhelm an enemy. Concentration of marketing energy
is heart of all marketing strategy and the marketing segmentation is the conceptual tools to help
achieve this focus.
So when the bank marketing division able to implement the right and actual segment of their
market they can achieve the goal they want and to achieve in future. The segmentation of market
customer and the specific goal is important than the overall marketing policy.

Target market

Target market is the end consumers to which companies want to sell its product target market
can be divided into different segments on the bases of the customers demand and the customer’s
class. Every individual customers demand is not same they definitely will demand different type
of service from the provider. So the company needs to offer different kind of service and product
to the market thinking of different target market.
So in the internship program I see the bank is offering different services to its customers and the
way they are providing should be little bit organizes so the customers will be more attracts.
Differentiation
Differentiation means creating specialized products that gain the competitive advantage with a
particular segment of the market. The main benefit of pursuing different types of customers is
that it helps you expand your sales potential. If you make a product and aren’t running at full
capacity, adding another target market can help you operate at full capacity. On the down side,
when the same company sells into two or more markets, it can confuse consumers as to what the
company really is.
In the banking sector all the service customers may not take from one provider when they see
differentiated service with extra benefit they definitely take the service from the same provider.

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Positioning:

Market position refers to the consumer’s perception of a brand or product in relation to
competing brands or products. Market positioning refers to the process of establishing the image
or identity of a brand or product so that consumers perceive it in a certain way.
The image of the company that providing the service is important where the company able to
create a good position in the market the customers also started to believe that there product or
service is the best.
In such a way bank service is not different from others the bank need to make a good position of
their service so that the customer are able to ensure that they will find a quality service from the
bank.

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3.3 Recommendation:

This report contains the information about the First Security Islami Bank Ltd. and mainly focus
on the marketing activity and services they offer, especially on general banking activity along
with discussion of some marketing indicators. To keep the institution on track toward long term
achievement according to stated mission, vision and strategic plan, some value should be get
more emphasis that are for the FSIBL and Kuril Bishow Road branch of FSIBL.

? Need proper marketing strategy which will identify the target market easily and able to
reach the right customer’s bank is looking for.
? The marketing activity recently bank is running for the branch marketing and for
reaching to the target customers are not enough it should be increase.
? Use of proper tools that attracts the customers are widely needed people have to know the
advantages of the bank clearly.
? The selection of right medium for marketing is crucial for the bank customers .what is the
right media it need to be identify accurately.
? Now a day’s marketing is a very important part of business those who conduct more
marketing activity for their customers they able to earn much customers then the other so
marketing budget should be increase.
? The bank needs to make reflective management team who can make effective decision
quickly the right marketing policy.
? Digital marketing should be improve more digital marketing campaigns need to
implement for attract much customers.
? Take proper marketing and product promotion policy to let the general people know
about this bank and its services.
? Website of FSIBL is not rich enough to know about different things in detail. So the
website needs to be enriched and need to update time to time.
? Bank should recruit expert in marketing and those who are committed to Islami Banking
System. Bank also should conduct proper training about Islami Banking System and
marketing strategy specifically
? When the bank will apply newly marketing strategies for its products to reach to its
customers much it will gain.

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Chapter 04

4.1 Conclusion

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Conclusion:

As an organization First Security Islamic Bank Limited has become one of the top banking
service section in the banking industry. Where they providing best quality banking service in
Bangladesh.in every section of banking it is improving rapidly if we look the previous year’s
data it is quite clear that the bank improvement. with a bulk of quality and experience human
resource First Security Islamic Bank Limited can exploit any opportunity in the banking sector of
the country moreover in the banking sector, it is unmatched with any other bank because of its
wide spread branch network throw the country.it is pioneer in the overall banking sector. it is
totally a wide range of banking service in Bangladesh and the overall experience of the customer
are quite batter then the competitor banks in Bangladesh.
First Security Islami bank Ltd has already established goodwill, trustworthy and acceptance
through continuous effort and promising services. The part of activities this report had shown
about FSIBL. For the future planning and the successful operation for achieving its prime goal in
this current competitive environment this report can be a helpful guideline. So it is not an easy
job to find out the downsides of this branch. I would rather feel like producing my personal
opinion about the practices in Kuril Bishow Road Branch. I have tried to present the strategy of
First Security Islami Bank Limited and its products and services, and some suggestion for the
improvement of First Security Bank Limited throughout the report. The required data about the
interview procedure are collected from face to face conversation with the manager employee and
customer of First Security Bank Limited. In a whole, the bank must make a positive attempt to
be more outward looking in their goals and aware of what is happening.

26

Reference:

First Security Islami Bank Limited, Accessed 15 June 2018, (http://www.fsiblbd.com/).
Bangladesh Bank, Islamic Banking, Accessed 15 June 2018.
(https://www.bb.org.bd/pub/quaterly/islamic_banking/jul_sep_2017.pdf).
First Security Islami Bank Limited, Account Open Form, Accessed 7 July 2018.
First Security Islami Bank Limited, Annual Report, Accessed 7 July 2018
(http://www.fsiblbd.com/wp-content/uploads/2017/03/Yearly-Financial-Statement-
2016.compressed-2.pdf).
First Security Islami Bank Limited, Accessed 7 July 2018, (http://www.fsiblbd.com/).
(http://www.fsiblbd.com/wp-content/uploads/2017/04/Yearly-Financial-Statement-2016-c-
2.pdf).
BSS, Islamic banking moving fast, Accessed 1 july 2018.

27

Appendix A
Appendix B

1

Internship Report on First Security Islami Bank Limited

We Will Write a Custom Essay Specifically
For You For Only $13.90/page!


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Internship (BBA-499A), Spring 2018

Submitted to:
Mr. Masnoon Salehin
Lecturer, Department of Human Research
School of Business
Independent University, Bangladesh

Submitted by:
Tanvir Hossain
ID NO: 1430076

Date of Submission: July 22, 2018

2

Letter of Submission

July 22, 2018

Mr. Masnoon Salehin
Lecturer
School of Business
Independent University, Bangladesh.

Subject: Submission of Internship Report.

Dear Sir,
I would like to submit my internship report to you for your perusal. I enjoyed
preparing this report, which enriched my partial knowledge of the theoretical
concept. While preparing this report, I tried my best to follow the instructions that
you have given me. The entire report is based on my practical experience in the
bank.

I will be very glad if the report can serve its actual purpose and I am ready to
explain anything to you if you feel necessary.

Sincerely,
Tanvir Hossain
ID No: 1430076
Major in Marketing
School of Business
Independent University, Bangladesh.

3

Acknowledgement

At first I want to express my gratitude to Almighty Allah for giving me the strength and the
composure to finish the task within the scheduled time. Then I am very grateful to the First
Security Islami Bank Limited for providing me the opportunity to complete my internship
program.

I received cordial cooperation from the officers and members of staffs of First Security Islami
Bank Limited, Kuril Bishow Road Branch. I want to express my cordial gratitude to them for
their cooperation without which it would not be possible to complete the report.

I would like to express my deep sense of gratitude and sincere appreciation to my internship
supervisor Mr. Masnoon Salehin, Lecturer, School of Business, Independent University,
Bangladesh, for his continuous support and enormous help throughout this internship program,
especially his guidance’s during the period of preparing the report.

His suggestions and comments were really a great source of spirit to make the report a good one.
I am indeed grateful to Mr. Md. Amir Hossain, SAVP and Operation Manager of First Security
Islami Bank Ltd. Kuril Bishow Road Branch for giving me the excellent opportunity to do my
practical orientation in his branch. I am also thankful to Mr. Md. Eaqub Ali, Principal Officer
of First Security Islami Bank Limited for giving me valuable information regarding this report.
At last I would also like to convey my thanks to all officials of the Kuril Bishow road Branch of
First Security Islami Bank Limited for their voluntary help and cooperation.

4

Table of Content

Chapter 1: Introduction

1.1.1 Company profile:………………………………………………………………………………. 7
1.1.1 Vision, mission, objective: …………………………………………………………………. 8
1.1.2 Corporate Division/department:……………………………………………………..8-10
1.1.3 Details of the product lines or services:………………………………………….10-11
1.1.4 CSR: ………………………………………………………………………………………………..12

Chapter 2: Internship Experience

2.1 Job responsibilities: …………………………………………………………………………… 14
2.2 Functions of the department: ………………………………………………………… 15-16

Chapter 3: Analysis and Recommendation

3.1 Problems/challenges faced/identified in the workplace:……………….18-19

3.2 Analyze the issue based on relevant theory: …………………………….20-22

3.3 Recommendation:……………………………………………………………23

Chapter 4: Conclusion

4.1. Conclusion: ………………………………………………………………………………………. 25

5

Executive Summary

As our educational system is generally text based, inclusion of practical orientation program, as
an academic component is an exception to the norm. Recognizing the importance of practical
experience, twelve weeks’ practical exposure is one of the most important parts of B.B.A.
program. This is because theoretical knowledge gets its perfection with practical application. By
an internship program in bank, students can get practical knowledge, which helps to know the
real life situations, helping them to launch a career with some practical experience.
So I need proper application of my knowledge to get some benefit from my theoretical
knowledge make it more tactful. Such theoretical knowledge is obtained from a course of study
at only the half way of the subject matter. Report paper implies on other the full application of
the method and procedures through rich acquire of subject matter can forcefully applied in my
day to day life situation. Such a procedure of practical application is known as report paper.
This report is submitted to my internship supervisor Mr. Masnoon Salehin after completion of
the twelve weeks internship program in the First Security Islami Bank limited at Kuril Bishow
Road branch. Authority gave me the opportunity to work at the twelve week.

6

Chapter 01

Introduction

1.1 Company profile

1.1.1 Vision, mission, objective etc.

1.1.2 Corporate Division/department etc.

1.1.3 Details of the product lines or services

1.1.4 Operation details

1.1.5 CSR

7

Chapter one: Introduction

1.1 Company profile:
The First Security Islami Bank is a Bank which was incorporated on the 29th August, 1999 as a
Banking Company under the companies Act 1994 to carry on the banking Business. It obtained
permission from Bangladesh Bank on 22nd September, 1999 to commence its Business. It has
started its operation as a commercial bank on the 25th October, 1999 with a branch at Dilkusha.
At present the Bank have 168 branches, 131 ATM booth and 131,689,7 Plus happy customers of
its 18 years of Banking. It renders all types of commercial banking service to the customers of
the society with in the stipulations laid down the banking company act 1991 and rules and
regulation are being compromised by Bangladesh Bank time to time. Diversification of products
and services and innovation of products suited to the needs of the customers in keeping with
relevant rules and laws have made it different from other commercial banks of the country.
Corporate Banking and Personal Banking are the special strength of First Security Islami Bank
Ltd (FSIBL). It maintains a strong relationship with all the banks of the country and all the
customers of the bank. The First Security Islami Bank Ltd (FSIBL) is a solid, forward looking
and modern local bank with a view to ensure sound performance. The effort that First Security
Islami Bank Ltd trying to portray the bank as a brand image as very strong and successful. The
general image is that it is the ?Symbol of Security. In 1999 the authorized capital of the bank
was BDT 1500 billion and paid up capital was BDT 200 million. By the end of 2009 the paid up
capital was BDT 2300 million. From 2009 the bank started sharia banking. Bangladesh Sports
Press Association (BSPA) in 2014 awarded the bank best sponsor.

8

1.1.1 Vision, mission, objective etc.
Vision:
To be the premier financial institution in the country by providing high quality products and
services backed by latest technology and a team of highly motivated personnel to deliver
excellence in Banking.
Mission:
? To contribute to the socio-economic development of the country.
? To attain the highest level of satisfaction through the extension of services by dedicated
and motivated professionals.
? To maintain continuous growth of market, share by ensuring quality.
? To ensure ethics and transparency in all levels.
? To ensure sustainable growth and establish full value of the honorable shareholders and
above all, to contribute effectively to the national economy.

1.1.2 Corporate Division/Department etc
There are basically three functional departments in First Security Islami Bank. These are
1) General Banking.
2) Foreign Exchange.
3) Loan & Investment.
1. General Banking:
General banking is the side where banks offer different alternatives to the clients to deposit and
remit their money. Accounts division is also included in general banking. To encourage the
clients, bank offers different options in front of their clients. Most of these options are very much
similar between the banks, but the customer services and facilities may not be the same. First
Security Islami Bank Limited has variety of services provided to the retail as well as for
corporate clients.

9

2. Foreign Exchange:
Foreign exchange is the means and methods by which rights to wealth in a country’s currency is
converted into rights to wealth in another country’s currency. In banks when we talk of foreign
exchange, we refer to the general mechanism by which a bank converts currency of one country
into that of another. Foreign Exchange Department (FED) is the international department.
Bangladesh Bank issue license to scheduled banks to deal with foreign exchange. These banks
are known as Authorized Dealers. If the branch is authorized dealer in foreign exchange market,
it can remit foreign exchange from local country to foreign country through Western Union,
Placid, MoneyGram, Express Money, RIA, IME Remit, Trans First etc.
3. Loan and Investment:
This is the survival unit of the bank because until and unless the success of this department is
attained, the survival is a question to every bank. If this section does not work properly, the bank
itself may become bankrupt. This is important because this is the earning unit of the bank. Bank
are accepting deposits from the depositors in condition of providing profit to them as well as safe
keeping their profit. Now the question may gradually arise how the bank will provide profit to
the clients and the simple answer is Investment and Advance.
FSIBL provides different types of investments including Bai-Murabaha (Deferred Lump Sum/
Installment Sale) ,Bai-Muajjal (Deferred Installment / Lump Sum Sale) ,Ijara (Leasing)
,Musharaka (Joint-Venture Profit-Sharing) , Mudaraba (Trustee Profit-Sharing), Bai-Salam
(Advance Sale and Purchase) ,Hire-Purchase , Direct Investments , Post Import Investment ,
Purchase and Negotiation of Export Bills ,Inland Bills Purchased ,Murabaha Import Bills ,Bai-
Muajjal Import Bills ,Quard-ul-Hasan (Benevolent Investment)Therefore, there are generally
five departments always remain active in any branch of this bank.
A. Account Opening Department,
B. Cash Department,
C. Accounts Department,
D. Clearing Department,
E. Investment Department.

10

A) Account Opening Department: The main task of this department are Account opening,
Account closing, Account transfer, giving bank statement, bank certificate, dispatch, issuing
check book and savings book.
B) Cash Department: The main tasks of the cash department are Receiving Cash from Clients
and Paying against instrument. Instead it also maintains the locker service.
C) Account Department: All kinds of preservation of documents/voucher, paying bills, paying
salary is the main task of this department.
D) Clearing Department: Receiving all kinds of inward & outward checks for collection/
payment, issue pay order/ pay slip is the main task of this department.
E) Investment Department: In this department, consumer credit scheme criteria are served with
their different facilities. The facilities categorized as Consumer Credit Scheme are Bai-Murabaha
(Deferred Lump Sum/ Installment Sale), Bai-Muajjal (Deferred Installment / Lump Sum Sale),
Ijara (Leasing) ,Musharaka (Joint-Venture Profit-Sharing) ,Mudaraba (Trustee Profit-Sharing)
,Bai-Salam (Advance Sale and Purchase) .
1.1.3 Details of the product lines or services:
Deposit Schemes:

Al-Wadiah Current Deposit Account, Mudaraba Savings Deposit Account, Mudaraba Special
Notice Deposit Account, Mudaraba Term Deposit Account, Onkur Account – Mudaraba

11

Students Savings A/C (School Banking), Projonmo – Mudaraba New Generation Savings A/C,
Uddipon- Mudaraba New Generation Deposit Scheme, Alo – Mudaraba Education Deposit
Scheme, ShuvessaMudaraba Gift Cheque, Mudaraba Deposit Double Scheme, Mudaraba
Deposit Triple Scheme (Triple Benefit), Aroba – Mudaraba Deposit Four Times Scheme, Prapti
– Mudaraba Salary Savings Account, Mudaraba Monthly Profit Scheme, Mudaraba Cash Wakf
Deposit Scheme, Mudaraba Hajj Savings Account, Zakat Fund, Morjada – Al-Wadiah Current
Plus Account, Somman – Al-Wadiah Premium Account, Agroshor – Mudaraba Millionaire
Deposit Scheme, Unnoti – MudarabaCrorepoti Deposit Scheme, Mehnoti- MudarabaSromojibi
Savings Account, Proyas – Mudaraba Money Plant Deposit Scheme, Probin – Mudaraba Senior
Citizen Savings Account, Gharoni – Mudaraba Housewife Deposit Scheme, Bondhon –
MudarabaMarriage Deposit Scheme, Niramoy – Mudaraba Health Care Deposit Scheme,
Aboshor – Mudaraba Pension Deposit Scheme, Mudaraba Monthly Deposit Scheme, Shadesh –
Mudaraba Emigrant Deposit Scheme, Shadesh – Mudaraba Emigrant Deposit Scheme.
Investment Schemes:
Bai-Murabaha Investment includes Bai-Murabaha (Hypo/General/Real Estate
Material/Pledge/TR/ Local Purchase), Hypo under SME, EMI under SME, Agriculture, Hypo
against MTDR and other Deposit Schemes.
Hire Purchase under Sirkatul Milk (HPSM) Investment in HPSM (House Building-Residential),
Real Estate / Commercial, Transport Bus / Truck / Launch / Cargo / vessel, Auto-Car, CNG
Three wheeler, Microbus, Machinery, Industry, Consumer Durables Scheme, Lease / Ijara
Investment, Car Lease (Staff), House Building (Staff).

12

1.1.5 CSR

Islamic banks undertake and implement various types of social programs under Corporate Social
Responsibility (CSR) activities. Sources of funds of Islamic banks available for CSR activities
include Zakat, compensation charges and Shariah-permitted other sources of earnings. These
funds are spent among different types of education, training, health and charity-based
organizations in Bangladesh. Islamic banks serve the deprived and disadvantaged segments of
people, who, because of extreme poverty, remain outside the purview of the conventional
banking system; the banks make financial transactions based on human necessities and embark
upon productivity-oriented projects or activities to reduce the incidence of poverty. Expenditure
on CSR activities increased by 44.92% in this quarter compared to the previous quarter. At the
end of 2016, total expenditure on CSR activities of Islamic Banking Industry stood at Tk.48.59
crores.FSIBL also have the part of contribution as corporate social responsibility from the
establishment to present in yearly basis allotment for CSR from the portion of fund. Their
contributions are mainly classified into education, health, disaster management, environment and
cultural sector. In 2016, First Security Islami Bank contributes 15.17 cores that are 24% of total
contribution of Islamic Banking Industry.

13

Chapter 02

Internship experience/ observation details

2.1 Job responsibilities

2.2 Functions of the department

14

2.1 Job responsibility:
As an intern I have joined First Security Islami Bank Limited Kuril Bishow Road branch on June
3th 2018 and successfully completed my three months’ internship. In this short period of time I
got chance to work in accounts department, general banking department, clearing department,
foreign exchange department and human resource department. The knowledge I have learned
from different departments is given below.
? First of all, I learned how to opening a bank account in the general banking section.
? Taking necessary document from new account holder like: Passport size photo of the
account holder and nominee, Photocopy of NID, birth certificate of account holder and
nominee, source of income document, account holder address, phone number etc.
? Helping customer for opening new account.
? Learned about Mudaraba Saving Deposit and Al-wadia current deposit. Taking request
from customer for new Cheque book and taking back the old one if available.
? Learnt about different saving schemes like kotipoti, Shugrihini, Hajj and Denmohor.
? Keep record of official letters, cheques, memorandums, inward and outward letter, and
different information in the respective register books.
? Verified the NID of customer by using government NID server to find out particular NID
is real or fake.
? Inform customer about their ATM Card that your card is ready and you can collect it
from the branch.
? Note down the L/C number in the L/C registry book with the name and other information.

15

2.2 Function of the department:
2.2.1 General Banking:
General banking is the side where banks offer different alternatives to the clients to deposit and
remit their money. Accounts division is also included in general banking. To encourage the
clients, bank offers different options in front of their clients. Most of these options are very much
similar between the banks, but the customer services and facilities may not be the same. First
Security Islami Bank Limited has variety of services provided to the retail as well as for
corporate clients. General banking activities of the First Security Islami Bank Ltd. Are included:

Account Opening: In accounts opening there is a relationship between the banker and the
customer. Initially all the accounts are opened with a deposit money by the customer and hence
these accounts are called deposit account. Usually a person needs to open an account on take
services form it. Without an opening an account, one can get only a few services from the bank.
So the banking begins actually by opening an account with a bank.
Account Closing: It is a general right for each account holder to close his or her account at any
time if he /she is inconvenient to continue. But it requires also some formalities. The person
needs to apply an application to the manager of the specified branch mentioning the reason for
account closing also the date when he/she would like to close the account by paying closing
charge.
Online Banking: FSIBL Online Banking includes balance inquiry, limit inquiry, profit details,
term deposit details, investment repayment schedule, cheque book details, clearing, cheque
status, transaction details, customer information, statement request, cancelling cheque request,
address change request, cheque book requisition, password change, EMI calculator.
SMS Banking: First Security Islami Bank welcomes to access banking needs from anywhere
anytime. It is indeed a fast, secure, convenient and quickest way of banking. The service is
available round the clock 24×7 a week. People can get real-time banking information and in
touch any time with FSIBL from their mobile. They can check balance, account information, or
even get mini account statements through FSIBL SMS banking service.

16

ATM Banking: First Security Islami Bank Ltd. has implemented successfully Automated Teller
Machine (ATM) card transaction from June 25, 2008. Through Automated Teller Machine
(ATM) /Debit card, customer can avail the facilities like withdrawal money, balance inquiry and
purchase goods from Point of sale (POS).
Mobile Banking: Features of FSIBL Mobile Banking are convenient, faster electronic fund
transfer, safe payment system, cash withdrawal, fund transfer facilities, widely available
throughout the Country, simple account opening.
Cheque Book House: On the submission of the requisition slip attached with the cheque book
given during the account opening, the assigned person or the person authorized by the account
holder will be given a cheque book.

17

Chapter 03

Internship outcome/Issue Analysis

3.1 Problems/challenges faced/identified in the workplace

3.2 Analyze the issue based on relevant theory

3.3 Recommendation

18

Chapter 03: Issue analysis
3.1 Issue analysis:

Challenges:

Firstly:
? Segmentation of the total market is a active part of general bank marketing where the
bank should look and the segmentation are need to create with a proper way .when I was
there for the last three month I saw few segmentation mistakes in the bank for general
banking marketing strategies.

? Where customer satisfaction also depends on marketing segmentation customers always
demand a good proper segment of the service of individual section of the service of the
bank.

? Bank is a service sector so the segment of every individual sections are important .as we
know that the bank is running a Islamic banking system so the segment names are define
in Arabic their customers have faces problems.

Secondly:

? Customers are in general in the market they don’t know the service they want only they
know a need of a bank service the banking target market need to identify abjectly the
proper way.
? A particular group of people for a few specific services of the bank where the service can
identify the need of the customers. When the bank target the right segment much they
able to reach to their target.
? Identification of the right group of people for the banks specific service.

19

Thirdly

? Differentiation and any commercial bank should first have a clear vision and customer
profile that they’re moving toward.

? Marketing is increasingly important in today’s banking environment where every bank is
trying to grave the maximum share of the market where differentiation is much
important.

? The larger banks spend a lot of money on research and development so they are always
able to understand the market differences.
?
Fourthly
? Place the proper marketing strategies to right place for attracting the selecting customer
group advertisements in TV Radio, News papers and digital media.
? Customers need to know a cleared image of the service that they are looking for ,the bank
task is to create that image on the eye of the customers so that they have a positive
thinking about the bank.
? Market positioning of a service or product must be maintained over the life of the service
or product. Like in the bank their general banking to the customers.

20

3.2 Analyze the issues based on relevant theory

Most of the internal and external issues that I have already mentioned are highly relevant with
customers driven marketing strategies. Where it will show the market situation and where to
promote the service target customer group, segmentation, differentiation, and positioning.

Segmentation Differentiation
Target market Positioning

21

Segmentation:

The goal of segmentation is the concentrated of marketing energy and divided the market in to
subdivisions to achieve competitive advantage from the segment. It is analogous to the military
principles of concentration of force to overwhelm an enemy. Concentration of marketing energy
is heart of all marketing strategy and the marketing segmentation is the conceptual tools to help
achieve this focus.
So when the bank marketing division able to implement the right and actual segment of their
market they can achieve the goal they want and to achieve in future. The segmentation of market
customer and the specific goal is important than the overall marketing policy.

Target market

Target market is the end consumers to which companies want to sell its product target market
can be divided into different segments on the bases of the customers demand and the customer’s
class. Every individual customers demand is not same they definitely will demand different type
of service from the provider. So the company needs to offer different kind of service and product
to the market thinking of different target market.
So in the internship program I see the bank is offering different services to its customers and the
way they are providing should be little bit organizes so the customers will be more attracts.
Differentiation
Differentiation means creating specialized products that gain the competitive advantage with a
particular segment of the market. The main benefit of pursuing different types of customers is
that it helps you expand your sales potential. If you make a product and aren’t running at full
capacity, adding another target market can help you operate at full capacity. On the down side,
when the same company sells into two or more markets, it can confuse consumers as to what the
company really is.
In the banking sector all the service customers may not take from one provider when they see
differentiated service with extra benefit they definitely take the service from the same provider.

22

Positioning:

Market position refers to the consumer’s perception of a brand or product in relation to
competing brands or products. Market positioning refers to the process of establishing the image
or identity of a brand or product so that consumers perceive it in a certain way.
The image of the company that providing the service is important where the company able to
create a good position in the market the customers also started to believe that there product or
service is the best.
In such a way bank service is not different from others the bank need to make a good position of
their service so that the customer are able to ensure that they will find a quality service from the
bank.

23

3.3 Recommendation:

This report contains the information about the First Security Islami Bank Ltd. and mainly focus
on the marketing activity and services they offer, especially on general banking activity along
with discussion of some marketing indicators. To keep the institution on track toward long term
achievement according to stated mission, vision and strategic plan, some value should be get
more emphasis that are for the FSIBL and Kuril Bishow Road branch of FSIBL.

? Need proper marketing strategy which will identify the target market easily and able to
reach the right customer’s bank is looking for.
? The marketing activity recently bank is running for the branch marketing and for
reaching to the target customers are not enough it should be increase.
? Use of proper tools that attracts the customers are widely needed people have to know the
advantages of the bank clearly.
? The selection of right medium for marketing is crucial for the bank customers .what is the
right media it need to be identify accurately.
? Now a day’s marketing is a very important part of business those who conduct more
marketing activity for their customers they able to earn much customers then the other so
marketing budget should be increase.
? The bank needs to make reflective management team who can make effective decision
quickly the right marketing policy.
? Digital marketing should be improve more digital marketing campaigns need to
implement for attract much customers.
? Take proper marketing and product promotion policy to let the general people know
about this bank and its services.
? Website of FSIBL is not rich enough to know about different things in detail. So the
website needs to be enriched and need to update time to time.
? Bank should recruit expert in marketing and those who are committed to Islami Banking
System. Bank also should conduct proper training about Islami Banking System and
marketing strategy specifically
? When the bank will apply newly marketing strategies for its products to reach to its
customers much it will gain.

24

Chapter 04

4.1 Conclusion

25

Conclusion:

As an organization First Security Islamic Bank Limited has become one of the top banking
service section in the banking industry. Where they providing best quality banking service in
Bangladesh.in every section of banking it is improving rapidly if we look the previous year’s
data it is quite clear that the bank improvement. with a bulk of quality and experience human
resource First Security Islamic Bank Limited can exploit any opportunity in the banking sector of
the country moreover in the banking sector, it is unmatched with any other bank because of its
wide spread branch network throw the country.it is pioneer in the overall banking sector. it is
totally a wide range of banking service in Bangladesh and the overall experience of the customer
are quite batter then the competitor banks in Bangladesh.
First Security Islami bank Ltd has already established goodwill, trustworthy and acceptance
through continuous effort and promising services. The part of activities this report had shown
about FSIBL. For the future planning and the successful operation for achieving its prime goal in
this current competitive environment this report can be a helpful guideline. So it is not an easy
job to find out the downsides of this branch. I would rather feel like producing my personal
opinion about the practices in Kuril Bishow Road Branch. I have tried to present the strategy of
First Security Islami Bank Limited and its products and services, and some suggestion for the
improvement of First Security Bank Limited throughout the report. The required data about the
interview procedure are collected from face to face conversation with the manager employee and
customer of First Security Bank Limited. In a whole, the bank must make a positive attempt to
be more outward looking in their goals and aware of what is happening.

26

Reference:

First Security Islami Bank Limited, Accessed 15 June 2018, (http://www.fsiblbd.com/).
Bangladesh Bank, Islamic Banking, Accessed 15 June 2018.
(https://www.bb.org.bd/pub/quaterly/islamic_banking/jul_sep_2017.pdf).
First Security Islami Bank Limited, Account Open Form, Accessed 7 July 2018.
First Security Islami Bank Limited, Annual Report, Accessed 7 July 2018
(http://www.fsiblbd.com/wp-content/uploads/2017/03/Yearly-Financial-Statement-
2016.compressed-2.pdf).
First Security Islami Bank Limited, Accessed 7 July 2018, (http://www.fsiblbd.com/).
(http://www.fsiblbd.com/wp-content/uploads/2017/04/Yearly-Financial-Statement-2016-c-
2.pdf).
BSS, Islamic banking moving fast, Accessed 1 july 2018.

27

Appendix A
Appendix B

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