General Banking Operation of Shahjalal Islami Bank Limited.(Chapter-4)

4.1 Introduction of SJIBL, Kawran Bazar Branch:

This branch was established 26^th September, 2004 it is situated at the First floor of T.K Bhaban, 13 Kazi Nazrul Islam Avenue, Kawran Bazar, Dhaka-1215. The bank is designed under one floor. It has been providing Islamic banking services for the customers of Kawran Bazar area.

4.2 Objectives:

To provide Islamic banking service to the people within the commanding area.
To expand business based on Islamic Shariah.
To keep position in the competitive market.
To contribute in profitability of SJIBL

4.3 Department of the Branch:

Account opening department
Cash department
Accounts department
Investment department
Foreign exchange department
Clearing department
Remittance department.

4.4 Number of Accounts:

*Application*	*Total Account2010-december***
*AL-Wadiah Current Deposit (ACD)*	394
*Mudaraba Savings Deposit (MSD)*	1972
*Mudaraba Short Notice Deposit (MSND)*	47
*Doble Profit M.Savings Scheme (DPMSS)*	396
*Education Deposit Scheme (EDS)*	161
*FCD*	9
*Hajj Palon Scheme (HAJJ)*	49
*House Deposit Scheme (HDS)*	11
*InLand Doc. Bill Purchase (IDBP)*	67
*INV*	746
*Lakhopoti Dep. Scheme (LDS)*	165
*Multiple Benefits M. S. Scheme (MBMSS)*	46
*Monthly Deposit Scheme (MDS)*	5772
*Monthly Income Scheme (MIS)*	229
*Millionaire Scheme – 12 Yrs (MS12)*	220
*Millionaire Scheme – 12 Yrs (MS15)*	182
*Millionaire Scheme – 20 Yrs (MS20)*	118
*Millionaire Scheme – 25 Yrs MS25*	202
*Marriage Deposit Scheme (MSD)*	1972
*Mohor Deposit Scheme (MSD)*	279
*M. Term Deposit Scheme (MTDR)*	996
*Non Resident FC Depo. – Dollar (NRFCD)*	5
*TOTAL*	11823

4.5 Statement of Affairs on SJIBL Kawran Bazar Branch:

*Account No.*	*Account Name*	*Balance*
*Sundry Deposits*
*9020824001*	UN Identified Entries	30750.00
*9020824002*	S/D- Sundry Creditors	99830.00
*9020824013*	S/D- Excise Duty on Deposits	1364298.00
*9020824014*	S/D- Vat for LC Commission	230181.00
*9020824016*	S/D- 5% Tax for LC Commission	8500.00
*9020824017*	S/D- 5% Tax on Agency Com	819057.00
*9020824021*	S/D- Margin on LC	18344211.00
*9020824022*	S/D- Margin LG	5122828.34
*9020824028*	S/D- RISK Fun for HHD Scheme	1900.00
*9020824030*	S/D- Leased Deposit	263840.00
*9020824033*	S/D- FC Held B/B Payment USD	11414353.65
*9020824036*	S/D-Clearing adjustment	3456768.00
*9020824038*	S/D- Application Fees	60977.00
*9020824041*	S/D- VAT	31.00
*9020824042*	S/D-VAT for Banking Service	1355.00
*9020824049*	Sundry Deposit Others	1236877.00
*9020824086*	S/D Card Issue Charge	100.00
*9020824116*	Risk Fund Under HPSM	57700.00
*Total*		42513559.61

4.6 A list of Employees of the SJIBL Kawran Bazar Branch:

*SL.*	*Designation*	*Number of Employer*
01	Executive Vice President & Manager	01
02	Senior Assistant Vice President & Deputy Manager	01
03	First Assistant Vice President	01
04	Senior Executive Officer	02
05	Executive Officer	02
06	First Executive Officer	03
07	Assistant Executive Officer	01
08	Senior Officer		03
09	Officer		06
10	Senior Trainee Officer		01
	Trainee Officer		02
11	Staff		06
*Total*		29

4.7 Products of SJIBL, Kawran Bazaar Branch:

4.7.1 Deposits:

Shahjalal Islami Bank Limited accepts deposits on the basis of Mudaraba in the following types of accounts, and pays profit, like that of dividend in these accounts, except AL-Wadiah Current Account.

The relationship between banker and customer is not debtor-creditor relationship of conventional banks. The depositor is a partner in business with Shajalal Islami Bank Limited. Customers’ deposit their fund in the following types of Accounts:

1. Mudaraba Short Notice Deposit Account

2. Mudaraba Savings Account

3. Mudaraba Term Deposit Account

4. Other Scheme Deposit Accounts

Average 70% of profit earned by the bank is distributed proportionately among depositors annually.

4.7.2 Investments Modes:

To provide interest-free Banking Shahjalal Islami Bank has adopted the following modes of investment:

1. Musharaka (equity participation on the basis of sharing profit and loss)

2. Mudaraba (sharing of profit and loss in business where one of the partners provides expertise and management and other partner provides capital remaining inactive)

3. Murabaha (buying and selling of commodities goods etc. with profit)

4. Bai-Muajjal (credit sale with profit)

5. Ijara (leasing for rent)

6. Hire purchase or Shirkatul Melk

7. Bi-Salam (purchasing of agricultural products while in production and providing advance oney to the producers)

8. Istisna (purchasing of industrial products while in production and providing advance money to the producers).

4.7.3 Computer Services:

Shahjalal Islami Bank is computerized and provides the following services some of these services will be introduced soon. Shahjalal Islami Bank Limited introduced a few schemes, which are very popular:

Online services
Automated Accounting
Integrated System
Signature Verification
Any Branch Banking
ATM Services
POS Services
SMS Push Pull Services 9. Other Delivery Channel Services (to be implemented)

4.7.4 Deposit Schemes:

Millionaire Scheme
Double the Money Scheme
Monthly Income Scheme
Monthly Deposit Scheme
Hajj Scheme
Mudaraba Bibaho Scheme (New Product)
Mudaraba Cash Waqf Deposit Scheme (New Product)
Special Term Deposit Scheme (New Product)
Mudaraba Mohor Deposit Scheme (New Product)

Mudaraba Shikhkha Deposit Scheme (New Product)
Mudaraba Housing Deposit Scheme
Mudaraba Lakhopoti Deposit Scheme
Mudaraba Small Business Deposit Scheme

4.7.5 Investment Schemes:

Doctors Investment Scheme
Education Investment Scheme
Executives Investment Scheme
Marriage Investment Scheme
Overseas Investment Scheme
Household Durable Scheme
Small Business Investment Scheme
Housing Investment Scheme
Small Enterpreneurs Investment program
Medium Enterpreneurs Investment program
Rural Investment Program (RIP)
Car Investment Scheme
CNG Conversion Investment Scheme

4.7.6 Services:

SJIBL VISA Card :

Card is considered as a new dimension of product resulting from technological development in the banking arena. In line with our affiliation with VISA International for VISA ATMs and POS, the following two products are launched broadening service products of the Bank to the clients’:

1.VISA Electron (SJIBL VISA Debit Card – local)

2.VISA Prepaid (SJIBL VISA Prepaid Card)

SJIBL VISA Debit Card: To a customer, “My card, my money” concept is used for Debit Card. Any accountholder of SJIBL can apply for a SJIBL VISA Debit Card against his/her Al-Wadiah Current Deposit (AWCD), Mudaraba Savings Deposit (MSD) or Mudaraba Short Notice Deposit (MSND) Account. He/she is fully authorized to enjoy the benefits of cash withdrawal from ATMs, liberty of shopping, dining, paying utility bills and having access account information through SMS, etc. round the clock.

SJIBL VISA Prepaid Card (Local): SJIBL VISA Prepaid Local Cards are open to the customers even having no account with Shahjalal Islami Bank Limited. Cardholders can have the card against prepayment and have access from anywhere in Bangladesh. SJIBL VISA Prepaid Local Cards are accepted locally at all VISA labeled merchant outlets, ATMs, etc.

SJIBL VISA Prepaid Card (International): SJIBL VISA Prepaid International Cards are also open to the customers even having no account with Shahjalal Islami Bank Limited. Cardholders can have the card endorsing US Dollar paying against Travel Quota, Exporters Retention Quota or marking Lien of his/her FC Account. SJIBL VISA Prepaid International Cards are accepted world wide at all the VISA labeled merchant outlets, ATMs, etc.

SJIBL VISA Prepaid Card (Dual): The Dual Card is a hassle free product, no need to carry two separate plastic cards for local and international card. Now, with one plastic card the Cardholders can enjoy all the benefits and make transactions locally & globally from their Prepaid card account at all the VISA labeled merchant outlets, ATMs, etc.

SJIBL VISA Souvenir Card (Gift Card – Local): SJIBL Souvenir Card is a very attractive and stylish product. Like a Gift Card, SJIBL Souvenir Card can be used by anyone wishes to. The intending customer may have the card instantly or may customize the card as required. The SJIBL Souvenir Cards are accepted locally at all the VISA labeled merchant outlets, ATMs, etc.

Usage Limit

*Description*	*Transaction Limit*
*Cash withdrawal limit (total)*	4 times per day
*Cash withdrawal limit (amount)*	Tk. 20,000 per day
*Balance checking*	4 times per day
*Mini statement printing*	2 time per day
*PIN change*	2 times per day
*Invalid PIN retry count*	3 times per day
*Card usage limit in ATMs (total)*	10 times per day

SMS Service :

Welcome to the convenience of accessing your banking needs from anywhere anytime. Shahjalal Islami Bank again fulfilled the demand of time in the era of modern banking technology by introducing the Mobile banking i.e. SMS / Push Pull Service. We offer a range of ways for you to access and manage your money.

Mobile Banking is a secured & flexible solution that delivers the banking services to its customers through a range of mobile devices using SMS / Push Pull technology. It provides banking services to the registered clients access to account information and real-time transaction capabilities from the mobile phones at a true “Anywhere, Anytime, Anyhow” convenience.

As a leading private sector bank in Bangladesh the Shahjalal Islami Bank Limited presents the Mobile banking i.e. SMS / Push Pull service.

Services:

Balance Inquiry
Cheque Book Request
Cheque Leaf Status
FC Rate Information
Cheque Stop Payment Instruction
Statement Request by Courier/Post
Statement request by E-mail
Last Three Transaction Statement
Help inquiry
PIN Change

GP Bill Collection:

Grameen Phone subscribers availing the service to pay their bills, advances, security deposit and other related charges through all branches of Shahjalal Islami Bank Limited.

4.8 Remittance:

Kushiara
Western Union
Swift Service

4.8.1 Kushiara:

Kushiara Money Transfer’s a definition of safety and reliability and a popular Money Transfer Company in United Kingdom (U.K.). Kushiara offers “Instant Cash” next day collection from Bank counter at most cities in Bangladesh and “Quick Credit” to beneficiary’s account in all over the Bangladesh.