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CHAPTER -1

Overview or Profile of IFIC Bank Limited

1.0 INTRODUCTION OF IFIC BANK LIMITED


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International Finance Investment and Commerce Bank Limited (IFIC Bank) is a banking company incorporated in the People's Republic of Bangladesh with limited liability. It was set up at the instance of the Government in 1976 as a joint venture between the Government of Bangladesh and sponsors in the private sector with the objective of working as a finance company within the country and setting up joint venture banks/financial institutions abroad. The Government held 49 per cent shares and the rest 51 per cent were held by the sponsors and general public. In 1983 when the Government allowed banks in the private sector, IFIC was converted into a full-fledged commercial bank. The Government of the Peoples Republic of Bangladesh now holds 35% of the share capital of the Bank. Leading industrialists of the country having vast experience in the field of trade and commerce own 34% of the share capital and the rest is held by the general public. The Bank is being managed by a group of highly experienced professionals with diversified experience in finance and banking. The Management of the bank constantly looks after customers satisfaction and believes that a satisfied customer is a great Ambassador. The bank has already ranked as one of the quality service providers & is known for its reputation. The offers the full range of banking services for personal and corporate customers, covering all segments of society within the framework of Banking Company Act and rules and regulations laid down by our central bank. All activities of the Bank including its products and services are mainly for different economic groups of Bangladesh at home & abroad. Bangladeshi expatriates living abroad in different countries form a strong economic group who contribute greatly towards the economic development of the country.

1.1 VISIONS OF IFIC BANK LIMITED


To be the best private Commercial Bank In Bangladesh and International in terms of efficiency .capital adequacy .asset quality .sound management and profitability having strong liquidity.

1.2 MISSION OF IFIC BANK LIMITED


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IFIC mission is to provide service to our clients with the help of a skilled and dedicated workforce whose creative talents, innovative, actions and competitive edge make our position unique in giving quality. Service to all institutions and individual that we care for. We are committed to the welfare and economic prosperity of the people and the community. For we drive from them our inspiration and drive for onward progress to prosperity. We want to be the leader among banks in Bangladesh and make our indelible mark as an active partner in regional banking operating beyond the national boundary. In an intensely competitive and complex financial and business environment. We particularly focus on growth and profitability of all concerned.

1.3 GOALS AND OBJECTIVES OF IFIC BANK LIMITED


Maximization of profit through customer satisfaction is the main objective of the Bank .in addition .the others relevant objectives are: 1. To be market leaders in high quality banking products and services. 2. Active excellence in customer service through providing he most modern and Advance state of art technology in the different spheres of banking. 3. To participate in the industrial development of the country to encourage the new and educated young entrepreneurs to undertake productive venture and demonstrate their Creativity and there by participate in the national development. 4. To provide credit facilities to the small and medium size entrepreneur located in urban and sub urban area and easily accessible by our branches. 5. To reduce dependence of moneylender. 6. To make the small and medium enterprise self --reliant. 7. To develop saving attitude and making acquaintance with banking facilities. 8. To inspire for undertaking small projects for creation employment through income. 9. To ensure the high return on investment 10. To strive for profit and sound growth. 11. To play a significant role in the economic development of the country. 12. To protect money laundering. 3|Page

1.4 CORPORATE INFORMATION PROFILE


Name of the Company Legal Form International Finance Investment and Commerce (IFIC) Bank Limited IFIC Bank Limited was incorporated in Bangladesh and registered with Joint Stock Companies and Firms as a public company limited by shares 4967,Dated October 08,1976 Tk 1600 Million Tk 671 Million Listed with Dhaka stock Exchange Ltd . (DSE) and Chittagong stock Exchange Ltd . CSE In 1986 $1995 Respectively . A category 210-200-0537,LTU,DHAKA 9021077014 BSB Bhaban (17th ,18th ,19th floor ) 8 Rajuk Avenue, Dhaka -1000 Tel:9563020-29,fax.9562015 TelexIFIC BD E-MAIL--:info@IFICbankbd.com Web:www.IFICbankbd.com Howladar Yunus & Com. Chartered Accountants Mohammad Lutfar Rahman Mosharuf Hossain 3152 82 9562 4|Page

Company Registration Number Authorized capital Paid up capital Listing Status

Market Category Tax Payer Identification Number ( TIN) Vat Registration Number REGISTERED OFFICE

Auditors Name of Chairman Name of Managing Director Number of employees Number of Branches Number of Shareholder

1.5 BOARD OF DIRECTORS Board of Directors


1 2 3 4 5 6 7 8 9 10 11 12 13 Mr. Mohammad Lutfar Rahman Mr. Abu Tahir Mohammad Golam Maruf Mr. Murshed Murad Ibrahim Mr. Aminur Rahman Mr. Md. Yasin Ali Mr. Didarul Alam Chowdhury Nafeez Sarafat Mr. Gulzar Alam Chowdhury Mr. Tanim Noman Sattar Mr. Mahmudul Huq Bhuiyan Mr. Arastoo Khan Mr. Syed Monjurul Islam Mr. Mohammad Ali Khan, ndc Chairman Director Director Director Director Director Director Director Director Director Director Director Director

1.6 LIST OF THE ALL BRANCHES OF IFIC BANK LIMITED


SERIAL CODE BRANCH NAME NO 1 2 3 4 5 2030 1197 1112 1096 6187 AGRABAD BRANCH ASHULIA BRANCH BAJITPUR BRANCH BANANI BRANCH BANESHWAR BRANCH BRANCH MNUMONIC 0801 ASHU BJIT BANA BNSW

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6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51

1011 5064 3138 6188 4166 6082 4067 2034 2054 6086 2040 2050 2035 2148 2044 1193 1006 6083 1014 1023 2152 1008 2041 1109 3151 1002 2137 9900 1005 4061 1017 1195 2031 4060 1121 4062 1025 2153 1118 1019 1094 1001 1004 3046 1115 1022

BANGSHAL BRANCH BARISAL BRANCH BEANI BAZAR BRANCH BELKUCHI BRANCH BENAPOLE BRANCH BOGRA BRANCH BORO BAZAR BRANCH BRAHMANBARIA BRANCH CDA AVENUE BRANCH CHAPAI NAWABGANJ BRANCH CHAWK BAZAR BRANCH CHOUMUHANI BRANCH COMILLA BRANCH COMPANYGANJ BRANCH COX'S BAZAR BRANCH DANIA BRANCH DHANMONDI BRANCH DINAJPUR BRANCH ELEPHANT ROAD BRANCH FARIDPUR BRANCH FATIKCHARI BRANCH FEDERATION BRANCH FENI BRANCH GHORASAL BRANCH GOALA BAZAR BRANCH GULSHAN BRANCH HATHAZARI BRANCH HEAD OFFICE ISLAMPUR BRANCH JESSORE BRANCH KAWRAN BAZAR BRANCH KERANIGANJ BRANCH KHATUNGANJ BRANCH KHULNA BRANCH KONABARI BRANCH KUSHTIA BRANCH LALMATIA BRANCH MADAM BIBIR HAT BRANCH MADHABDI BRANCH MALIBAGH BRANCH MOHAKHALI BRANCH MOTIJHEEL BRANCH MOULVI BAZAR BRANCH MOULVI BAZAR BRANCH (DIST.) MUKTARPUR BRANCH MYMENSINGH BRANCH

0808 BARI BEAN BELK BENA 0812 BORO BBAR CDAB CHAP CBZR CHOU COMI CPNY COX DANI 0814 DINA 0810 FDP FATK 0807 FENI GHO GOAL 0802 HATH HO 0799 0811 0816 KERN 0800 0804 KONA KUSH LAL MBHB MADB MALI MOHA 0796 0797 MBD MKT MSIN

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52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82

6085 1003 1110 1029 1020 1016 4163 1028 6084 1027 1173 6080 6081 1198 4065 1171 2042 1007 1092 2132 2045 3047 1090 3043 3033 1126 1091 2036 3139 3049 1024

NAOGAON BRANCH NARAYANGANJ BRANCH NARSINGDI BRANCH NAWABPUR ROAD BRANCH NAYA PALTAN BRANCH NETAIGANJ BRANCH NOAPARA BRANCH NORTH BROOKE HALL ROAD BRANCH PABNA BRANCH PALLABI BRANCH PANCHABOTI BRANCH RAJSHAHI BRANCH RANGPUR BRANCH RUPGONJ BRANCH SATKHIRA BRANCH SAVAR BAZAR BRANCH SHAH AMANAT MARKET BRANCH SHANTINAGAR BRANCH SHARIATPUR BRANCH SHEIKH MARKET BRANCH (OLD)/ NOZUMIA HAT BRANCH (NEW) SHEIKH MUJIB ROAD BR SHREEMONGAL BRANCH STOCK EXCHANGE BRANCH SUBID BAZAR BRANCH SYLHET BRANCH TAKERHAT BRANCH TANBAZAR BRANCH TERRI BAZAR BRANCH TULTIKAR BRANCH UPOSHOHAR BRANCH UTTARA BRANCH

NAOG 0798 NAR 0817 NAYA NTG 0815 NBHR PBNA PLLB PANC 0805 RANG RUP 0813 SAVR SAM SHAN SHAR NOJU SMR SMGL STOK SUBD 0803 TKHT TANB 0809 TULT UPO 0818

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Map of the Branches of IFIC Bank Limited

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1.7 PRODUCTS
Simply product is a solution of customer needs and wants. A product is an element in the market offering. Product is anything that can be offered to a market for attention.

IFIC CARDS

IFIC Card is powered by VISA, world's largest electronic payments network. IFIC Bank has been issuing VISA branded Credit Card, Debit Card & Prepaid Card. Customer can choose any of the above card according to his/her need.

IFIC CREDIT CARD

Types of Credit Cards


IFIC Bank VISA Credit Cards are issued in two types namely Gold and Classic for both local and international use. The Local Cards can be used at any ATM displaying VISA Logo for withdrawal of cash and at any POS displaying VISA Logo for purchase of goods & services within Bangladesh whereas the International Cards can be used at any ATM and POS displaying VISA logo anywhere in the world. International credit card is a dual currency card and as such you can use the same plastic at home & abroad. Classic cards are for lower limits and less costly.

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IFIC DEBIT CARD

IFIC Bank VISA Debit Card can be used at any ATM displaying VISA Logo for withdrawal of cash and at any POS displaying VISA Logo for purchase of goods & services within Bangladesh. ATM transactions are to be secured by Personal Identification Number (PIN) known by the concerned customer only. POS transactions will not require PIN. However, all the transactions are to be authorized by the system electronically. IFIC debit card is issued against any individual savings/ current account maintained with any branch of IFIC Bank Limited. The designated savings/current account can be operated by using the debit card without using cheques 24 hours in a day, 7 days in a week, 365 days in a year. The customers are not required to pay any charge for transactions at Merchant Point of Sale (POS) for purchasing goods and services. For cash withdrawal from ATM/Branches, a little charge may be applied. No interest will be calculated on cash withdrawal or purchases. No minimum amount due and no hassle of payment of monthly bills.

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IFIC PREPAID CARD

IFIC Bank VISA Prepaid Card can be used at any ATM displaying VISA Logo for withdrawal of cash and at any POS displaying VISA Logo for purchase of goods & services within Bangladesh. ATM transactions are to be secured by Personal Identification Number (PIN) known by the concerned customer only. POS transactions will not require PIN. However, all the transactions are to be authorized by the system electronically. Prepaid card is safer than carrying cash and more convenient than writing cheques. IFIC Prepaid card is issued by the branches instantly on filling-up the Application Form and making initial deposit. There is no need to have any account with the Bank. Prepaid card are suitable for the customers who does not maintain any account with IFIC. No interest will be calculated on cash withdrawal or purchases. No minimum amount due and no hassle of payment of monthly bills.

IFIC BANK POS

Bank POS are available at all the branches of the Bank. Any IFIC Card Holder can withdraw cash from any branch of IFIC Bank Ltd. through Bank POS. Credit Card Holders can withdraw cash up to 100% of their credit limit.

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Customer Care
Customers can feel free to visit our Card Division on any working day or dial 9559703 or PABX: 9563020 Ext. 500, 502 or Fax: 9570282 or email: mailto:'card@IFICbankbd.com' for further information. Please dial 9559703 or 01713229817 at any time for help.

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LEVELS OF PRODUCTS

1 POTENTIAL PROUCT

2 PRODUCTS AUGMENTED

5 CORE BENEFIT

3 EXPECTED PRODUCT

4 BASIC PRODUCTS

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1.8 PRODUCT DECISION (IN BANK)


Tight product decision in the tight time is essential for all organization. If focuses on decision about product attributes branding, pack aging, labeling and product support services IFIC BANK LIMITED PRODUCT ATTRIBUTES: Developing a product or service involves defining the benefits and design. In case of IFIC Bank Limited .various deposit schemes are product.

Product Attributes

Branding

Packaging

Labeling

Various Deposit Schemes

C.S.S

Attractive Brochures

Product Support Service

Distinction From Others

80% Loan Facility after 3years

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1.9 NEW PRODUCT PLANNING PROCESS:


New product planning is guided by customer needs analysis:

Customer Needs Analysis

Idea Generation

Screening and evaluation

Business Analysis

Business Analysis

Screening & Evaluation

Testing

Commercialization

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UPCOMING SERVICE
1. ATM 2. BANKING SOFTWARE 3. TELE BANKING 4. INTERNET BANKING

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CHAPTER -2
Introduction to the Report/Study

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2.1 INTRODUCTION TO STUDY


International Finance Investment and Commerce Bank Limited (IFIC Bank) is a banking company incorporated in the People's Republic of Bangladesh with limited liability. It was set up at the instance of the Government in 1976 as a joint venture between the Government of Bangladesh and sponsors in the private sector with the objective of working as a finance company within the country and setting up joint venture banks/financial institutions abroad. The Government held 49 per cent shares and the rest 51 per cent were held by the sponsors and general public. In 1983 when the Government allowed banks in the private sector, IFIC was converted into a full-fledged commercial bank. Diversifications of products and services and innovation of products suited to the needs of the customers in keeping with relevant rules laws have made it different from other local commercial banks of the country. This bank is committed to provide high quality financial services to the people to develop of the nation. Effective Credit Administration can ensure good recovery of loan and advance and good interest. Most of the share of the total profit comes from credit operation and the existence of the bank depends on accumulated assets that they get from clients or customer. What bank do they collect surplus money from customer and give to them who need this money. On this process bank charge interest for giving credit and give interest for collecting money. Training and Development is vital issue of Human Resource Management. By using Training and Development process any bank can improve their performance and also activity level. Employee can survive and they have the opportunity to over come any obstacles. By using Training and Development process organization make satisfies to there employee can improve their abilities and skills.

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2.2 RATIONALE OF THE STUDY


This study will helpful to have an idea about real world situation. Moreover completion of internship is mandatory for the fulfillment of BBA degree. This experience will help in my professional life. I have been place in IFIC bank for my internship. So I shall work on different aspects of this bank. However the better performance of all organization depends on its complaint human resources. The competence of HR can be increased through proper training and development. This will help to provide better service to their customers, which is important for increase the productivity and profitability for the bank. As such I have decided to conduct my internship on training & development system of the organization.

2.3 STATEMENT OF THE PROBLEM


Human Resource is one of the most important assets and also as part of the organization concerned with the people dimension. The present day workforce is quit different from yesterday and this change is continuing. As jobs in todays dynamic organizations have become more complex and challenging, the importance of employee education and training has been increasing. Every organization needs to have well adjusted, trained an experienced people to perform the activities to achieve the organizational goal. When jobs are simple, easy to learn and influences on only a small degree by technological change, there was little need for employees to upgrade or alter their skills. But that situation rarely exists today. Instead, rapid job changes are occurring, requiring employee skills to be transformed and frequently updated. In organizations, this takes place through employee training. In general, training refers to a planned effort by a company to facilitate employees learning of job-related competencies. Inadequate job performance or a decline in productivity or changes resulting out of job redesigning or a technological break-through require some type of training and development efforts. As the job become more complex importance of employee development also increases. In a rapidly changing society, employee training and development is not only an activity that is desirable but also and activity that an organization must commit to maintain a viable a knowledgeable workforce. The goal of training is for employees to master the knowledge, skill and 19 | P a g e

behaviors emphasized in training programs and to apply them to their day-to-day activities. More employees today are taking advantage of the fact that training can strengthen employee commitment. Few things illustrate a firms commitment to its employees more than continuing development opportunities to better themselves and such commitment is usually reciprocated. Training has become a mandatory tool to survive in the hard facing workforce. To accelerate the over all human recourse management achievement, training works as a major part of its dimensions. The banking sector in Bangladesh is very much competitive. More over customers are becoming more demanding and sophisticated day by day. In order to meet their increasing demand the organization has to provide better services to their customer. For this reason employees and executives have to provide with modern learning and knowledge. Training is the only ways to enrich this learning. The training program o introduced by the bank could not meet the expectations of sophisticated customer. In order to develop creativity, innovativeness, and enabling capability of human resources the bank has to update their training program with the changing needs of customers. So that they can maintain their competitive edges. As such I have decided to study training and development aspects of the Bank. Different issues covered for the study to serve our purposes are: HRM Training & Development includes: o Globalization o Technology o Work force diversity o Changing skill requirements o Continuous improvement o Work process reengineering o Decentralized work sites o Employee involvement

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These types of training & development criteria are not always followed in private and public organization of Bangladesh and this is our job to find out the cause and impact of the problem.

2.4 SCOPE AND DELIMITATION OF THE STUDY


This study will deal with the HR department of IFIC Bank, where training & development practice is vital issue. This study will be confined to the Mohakhali Branch of IFIC Bank. The overall function will perform in the bank and will be covered for the study. The corporate office of the bank will also be contacted to have meaningful information about the study.

2.5 OBJECTIVE OF THE STUDY


The objectives are as follows: Broad objective: The Primary purpose of the study is to have thorough understanding about the bank training & development in IFIC bank. Specific objectives: To know about the training and development policy of the IFIC. To reveal how to identify training needs of employee and executives. To examine the current training& development program of IFIC bank. To find out the multiplicity of the training and development program imparted to the people in different functional areas of the organization. To evaluate the employee performance of IFIC Bank after getting training. To measure the attitude of employee toward training. To highlight the system used for evaluating of effectiveness of training.

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2.6 METHODOLOGY OF THE STUDY

Primary sources Data Sources


Verbal Interview, Questionnaire, discussion etc.

Secondary sources
Articles, Newspaper, magazine, Internet, IFIC Report etc.

Both primary and secondary data will be collected for the study. Primary data will be collected through standard questionnaire and interview method. The questionnaire will prepare on the basic of the objective of the study. Secondary data have been collected from the text books, annual report of the bank, published documentation of the bank, internet etc.

Primary data analysis:


I had done survey for my data collection. I personally went to responded and asked relevant question and collected data. I prepare questionnaire and ask them to fill it.

Secondary data analysis:


I also browsing different website in internet for more information. I read different article in paper and magazine for know more about it.

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2.7 LIMITATION OF THE STUDY


Every matter has got some limitation. So this is also not an exception. The limitations of this internship report are been sated below: a) Due to time and cost restriction, the study is concentrated in selected areas of the Bank. . To continue study in such a vast are requires a big deal of time. As an internee I had only three month which is not enough. b) As a financial organization the bank used to maintain confidentiality of their valuable data. As a result the study is mostly depends on official files and annual reports. c) It was very difficult to verify the accuracy of the collected data. Available data also could not be verified. d) IFIC as a private commercial bank they are very busy and they could not able to give me enough time for discussion about various topics. Though there are some limitations I have tried my best to collect adequate data and information to make the report meaningful.

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CHAPTER -3
Analysis and Interpretation of the Data

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3.1 HUMAN RESOURCE DEVELOPMENT OF IFIC


Human resource development is an essential pre-requisite for achieving organizational goals. No organization can run successfully in a changed environment without developing its employees human qualities. Training is a recognized way through which organization could help improving its employees efficiency. It is also an on going systematic process. It helps to bring about developmental changes in knowledge, skill and attitude of an employee. Human Resources Development is focused on recruitment and in-house training for both on the job and off the job Bank staff members through the Banks Academy. IFIC Bank Academy the oldest institution in the private sector was conceived of as an in-house training center to take care of the training needs of the Bank internally. Academy is fully equipped with a professional library, modern training aids and professional faculty. Library has about 4941 books on banking, economics, accounting, management, marketing and other related subjects. Main training activities consist of in-depth foundation programmers for entry level Management Trainees. Specialized training programmers in the areas like general banking, advance, foreign exchange, marketing and accounts etc. are also organized by the Academy depending on need. Frequently outreach programmers are organized to meet demand for new and specialized skills. During its 25 years of existence, Academy not only conducted courses, workshops and seminars as required by the Bank, but it also organized training programmers for the Bank of Maldives, Nepal Bangladesh Bank Limited and Oman International Exchange

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LLC. In addition, Academy has also the credit of organizing system of Bank of Maldives.

In addition to conducting courses internally, The Academy also selects candidates for nomination to various courses conducted by distinguished training organizations in the country including Bangladesh Bank Training Academy and Bangladesh Institute of Bank Management.

The Academy also re-designs its courses, programmers etc, regularly to meet the requirement of new skills arising out of various directives, guidelines of the Central Bank and significant changes in the banking sector from time to time.

3.1.1 HR POLICY
Policy is guideline to action Human Resource policy is the most vital element of corporate policy since it guides recruitment, selection, orientation training and placement of personnel. Apparently human resource policy is concerned with proper use human required for undertaking activities in order to achieve corporate goals and objectives.

3.1.2 AIMS OF HRM POLICY


Human resources policy generally aims at the following Achieving the main objectives of the organization. Creating committed employees. Developing trained personnel. Consultative service to employees. Managerial leadership. 26 | P a g e

Delegating of authority. Co-operation to and from employees Security of employments. Opportunity to growth. Fair salary. Objectives evaluation of work.

3.2 MAIN OBJECTIVE OF HRM


Establishment and maintenance of an adequate organization structure and promotion of harmonies working relation among the members of all levels on companys pay roll. Integrating the employees and employee groups with company and there by obtaining their commitment, loyalty and involvement in companys work and high level of productivity. Effective utilization of the organizations human resources for achieving goals of the organization. Recognizing and satisfying employee goals and group goals for motivation. Taking appropriate steps to maintain employee morale at high level and ensuring adequate work performance. Providing opportunity for individual growth and development in the firm tough job satisfaction.

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3.3 ACTIVITIES OF HRM


HRM has a significant role in today IFIC and must be forward thinking. They must take the lead in assisting good achievement with the people component of the organization. Under the guidance of HRM, employees of an organization can assist it in gaining and maintaining a competitive advantage. Attracting and maintaining such employees require. HRM of IFIC will also recommend and implement changes regarding where necessary. Human resource management has its focus mainly on balancing the needs, goals, objectives and values of both employers and employees. Polices form rules of conduct and they should be based on the following principles. Putting right man in the right place by a careful program of selection procedure and placement to make sure that the new recruit is physically, mentally and physically, mentally and psychologically fit for the job to be performed. This is needed for the new employee to develop and grow. Training the new recruits for developing technical competence to perform so that they can discharge their duties and responsibilities efficiently. Transforming the organization into a coordinated entity of different departments permitting reduction of interpersonal and interdepartmental function and conflicts. Ensuring employee security with opportunity, incentive and recognition, thereby encouraging employees to stick to their jobs in the hope of advancement in the organization and thereby reducing turnover and loitering.

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Supplying proper equipment and promoting right conditions of work to facilitate production at lowest possible cost. Looking ahead and ensuring production and distribution of superior quality foods and services for catering to the rising and changing requirements of the consuming public. Rewarding star performers. Reward should be earned, not given.

3.4 TRAINING & RESEARCH OF IFIC


Human Resource Development activities aim at fulfilling the banks mission. One of IFIC four major missions is to: Provide service to our clients with the help of a skilled and dedicated workforce whose creative talents, innovative action and competitive edge make our position unique in giving quality service to all institutions and individuals that we care for. Skilled and dedicated workforce with creative talents, innovative action is not always readily available. Appreciating the scarcity of such manpower, the bank from the very beginning laid important to HRD that conceptually includes activities like: prerecruitment drill, recruitment, induction training training in the academy, job rotation, placement and posting, reward and promotion. All these activities are planned by the bank in an integrated way aiming at manpower with required technical, managerial, human and conceptual skills. Management of IFIC bank not only appreciates the need of skills required for day to day banking but also realize the need of skills meet the national and global financial and economic environment that are changing fast.

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3.4.1 EMPLOYEES TRAINING OF IFIC


IFIC employs a large number of employees for performing various jobs. Some of them are newcomers. They need more knowledge and skill for better performance of jobs. They are, therefore, in need of proper training to contribute to the achievement of the organizational goals. There are some jobs that require little or no training but many of them need to be performed by adequately training. The use of modern technology has created new jobs in the organization, which required training.

Training involves the change of skills, knowledge, attitudes or behavior of employees. Although training is similar to development in the methods used to attract learning, they differ in time frames. Training is more present day oriented; its focus is on individuals current jobs, enhancing those specific skills and abilities to immediately perform their jobs. Employee development, on the other hand, generally focuses on future jobs in the organization.

Training differs from education. Training is concerned with increase in knowledge, skills, and abilities of the employees in doing a particular job. It has a narrow aim limited to increase in knowledge and skill related to a job. Education, on the other hand, broadens the mental faculties and horizon of knowledge. It is concern with enhancing general knowledge and motivating one to understand the total environment.

Training is often understood as a learning experience. So, if employees are to understand what training can do to improve an employees job performance, employee should begin by explaining how learn.

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Training widens job related knowledge of the employee. Employees become more skilled and update their knowledge through training. Training provides necessary instructions for performing the current job efficiently. Training differs from education and development.

Imparting of training to the employees has become very much important in modern times for better performance of the job. Here it can be said that the question of training does not arise but making choice of the method of training arise.

3.4.2 EMPLOYEE TRAINING METHOD OF IFIC


After successful selection process they start there own strategy to make a very effective man power. They have divided there training and development process in the following sections. All this training are arranged and taken by support and development segment. 1. Service mind set 2. Service based training 3. Value added service based training 4. Computer skill

3.4.3 TYPES OF TRAINING PROGRAMS


For fresher, foundation courses on elementary knowledge of banking are organized. Specialized courses on the area like credit, foreign exchange, accounts, inspection and marketing etc. are meant for officials working in those areas. Higher level courses are run on specific knowledge area. Certain courses are a blend of different knowledge areas. In addition, certain priority programmers are also being conducted by the academy. These include programs on Basel-II Accord, Productivity Improvement, Money Laundering Prevention, new skills required to perform new jobs.

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CONCEPTUAL FRAME OF TRAINING PROGRAMMES

EXECUTIVE DEVELOPMENT PROGRAMMES

TOP LEVEL

MANAGERS CONFERENCE

MANAGEMENT WORKSHOPS

SENIOR LEVEL EXECUTIVE DEVELOPMENT PROGRAMMES ADVANCE COURSES

SPECIALIS ED COURSES ON

SPECIALISED COURSES ON FOREIGN EXCHANGE

COURSE ON MARKETI NG

FOLLOW-UP AND EVALUATION COURSES

MID LEVEL

JUNIOR LEVEL

FOUNDATION COURSE FOR PROBATIONARY OFFICERS

FOUNDATION COURSE FOR OFFICERS GRADE- II

BASIC COURSE FOR CASH/COMPUTER OFFICERS

INDUCTION COURSE FOR OTHER EMPLOYEES

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3.4.4 APPROACHS TO TEACHING


The academy holds need-based training courses/workshop/seminars etc. which are finalized by Training & Research Division in constantly with various department and senior executives at Head Office. Training inputs are constantly reviewed / modified for achieving the banks objective. Methods in training include: discussion/ lecture/workshop/case study/games/ role play/ film show/ simulation/group work & Presentation/ project visit and so on.

3.4.5 ON-THE-JOB TEACHING


Foundation courses have two parts: theoretical training in the academy and job rotation. The officers on probation are required to undergo both in a period of one year. During this period, three-phased training programs are effective. On theoretical training say, general banking, the officers are required to undergo rotation in general banking activities under the supervision of HRD. Similar process is followed in case of CRM & Foreign Exchange.

3.4.6 THE ACADEMY OF IFIC


At the very beginning the bank laid a foundation by setting up an academy at Head Office under Human Resource Development Division to human resource internally. Equipped with a professional library, modern training aids, knowledgeable faculty and other facilities, the academy of the bank had been a leading one among the banks on private sector. The academy regularly conducts foundation course, specialized courses and seminars in different areas of banking to take care of the professional banking needs. In addition, officers are regularly sent to Bangladesh Institute of Bank Management (BIBM) and 33 | P a g e

Bangladesh Bank Training Institute (BBTA) for professional training. Sending officers abroad for higher training is regular feature. A research department also works in aid of HRD operational areas. In the year 2008, the academy has conducted 31 programmers (including training, workshop and seminar) where a total number of 1059 Executives and Officers attended. Besides, 56 Executives and Officers for BIBM training, 13 Executives and officers sent for BBTA training and 7 Executives and officers were sent abroad for foreign training.

ACADEMY OBJECTIVES OF IFIC


IFIC Bank Academy, establish in 1983 as an in-house training institution, takes care of the training need of the employee of the bank. The objectives of the Academy are to:

Make available skilled and dedicated workforce within shortest possible time by reducing time required for on the job training. Develop understanding about law and practice of banking through foundation training. Impart technical skill to the operation level officers through case studies/practical exercises/ demonstration/project visit for efficient desk operation. Develop analytical & decision making skills of the officers. Develop understanding about human/conceptual skill and organization culture. Impart managerial skills to groom future executive and to keep existing Executives up-to-date with national international environment.

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3.4.7 FACULTY
The academy has built up a pool of knowledgeable/competent trainer within the bank. In addition to permanent and professional trainers, speakers are drawn from operational side so that on the job experience may be exchange and shared. Over and above, speakers from Central Bank, professional training institutions, universities, research organizations and Govt. organizations are also invited to share views and experience. Senior and retied bankers are also regularly to enhance effective of training.

3.4.8 LIBRARY
The academy has a good collection of books, journals and magazines. The books are mainly on subjects like banking, economics, accounting, management and marketing etc. As on December 31, 2008 the library had 5,653 books/titles. The books are issued t the employees usually for one month

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3.5 Analysis of the survey

Strongly Agree Disagree Neutral Agree Strongly Disagree

60% 5% 5% 30% 0%

As we found that, the analysis shows the maximum employee gives their decision with strongly agree so we can say or give my comments that it is a good organization.

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3.6 SWOT ANALYSIS OF IFIC BANK LIMITED


SWOT means overall evaluation of an organization by its activities such as, Strength, Weakness, Opportunity, Threat, now I am going to discuss about IFIC BANK LIMITED

Strength:
There is much Strength in this organization from my point of view, though much strength but I would like to discuss such type of entireties:

Strength

1st Generation Bank

75 Numbers of Branches

Work force Number 2251

35% of Govt. shares

IFIC BANK LIMITED is the 1st private generation Bank in banking environment in Bangladesh & it provides customer satisfaction within 25 years. Now there are 75 Numbers of Branches in six division .There are 2251 numbers of employees allover the country & contribute of our economy by their hard and soul working, on the other hand 35% share of Govt.

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Weakness:
In my case study, I gathered some weakness in this organization which is very essential to overcome for this organization, such as

New comers in on Banking

Employee turnover tendency high

Lack of ATM

Weakness
Most of the employees are not adapted in online Banking Insufficient of paid up capital

Marketing Policy

From my point of view there are many weakness in this organization .paid up capital is not accurate in the rule of Bangladesh Bank .IFIC Bank Limited has 164.00 million instead of 200 million. Newcomer online system, for this reason they are not totally

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adapted in online Banking ATM Booth is not all over the country, they have not enough marketing team to advertising of their product line

Opportunity:

Opportunity:

Big network through Branches

Market Capture through Branches

Aggressive product

IFIC BANK LIMITED has a big network to capture the whole items of customer by its aggressive product.

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Threat:
Bangladesh is a third world country & practicing a democracy policy by this policy Bank are affected some hassles ,which is a big threat for a Bank .on the other hand Global recession & Rising of new generation Bank ,New generation bank are provide highest facilities for their customer which is a lack of the IFIC bank limited .

Violence

Global Recession

Govt. interference

Threat

Political system

Rising of new generation Bank

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CHAPTER -4
Findings, Suggestions & Conclusion

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4.1 FINDINGS OF IFIC BANK


While working at corporate Mohakali Branch, I have gained a newer kind of experience. After collecting and analysis data I have got some idea of the IFIC bank. This idea completely from my personal viewpoint, which is given below: Corporate Branch, IFIC Bank Limited is well-operated branch with its strong brand image. IFIC Bank has big impact upon its human resource development and manage mental. IFIC Banks structure influences personnel activities within the department as well as relation within others whom it is to serve. Top Management set up the target of profit for every branch depending of the volume of the branch position and level.

They face troubles with those clients who have not any knowledge in banking transactions and banking rules. From the clients view introducer is one of the problems to open an account. It is general problem to all Private commercial bank.

IFIC Bank has recruited high skilled employees to filling its lower and mid level position.

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IFIC Bank has proper training arrangement of employees. IFIC Bank has new technology for proper training. Clients generally complain that rate of interest for various type of credit is quite high. In many cases productivity from loaned investment is inadequate that borrower become incapable in repaying loan.

one problem is that bank always follows the policy of risk averse in the world today all the organization are moving in approach of risk taking. As a result it is facing some problems and also facing competition from other bank. The recovery of capital in small business loan section is threatened.

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4.3 SUGGESTIONS
It has a large portfolio with huge asset to meet up its liabilities and the management of this bank is accomplished with the expert bankers and managers in all level of management and with a little knowledge about banking, it is not an easy job to find out the difficulties of this branch. Rather than recommending I would like to give my opinion to improve the banking service and make the customer more satisfied.

I. Renovation of customer service


Since a number of new banks are coming to existence with their extended customer service pattern in a completely competitive manner. Customer services must be made dynamic and prompt. Now a days, people especially business people have very little time to waste. So the bank should make its service prompt so that people need not give more time in the banking activities.

II. Providing more industrial loans


It seemed to me that the bank having a large amount of deposit is not simply encouraging the large scale of producers that is this bank is not providing that much of long term industrial loans to accelerate the economy as well as to help the economy to solve unemployment problem.

III. Speed up Processing of loan application


If loan-processing time is lengthy, it will not get good borrower. Most of this time is spent for correspondence between Head Office and Branch. So the branch should speed up its 44 | P a g e

loan processing time. For reducing loan-processing time, branch manager should be given more power to sanction loan. This power can eliminate the time. Branch should have independent appraiser for appraising term loan proposal.

IV. Bank should be innovative and diversified in its services


This branch provides only conventional services. Modern banking today is introducing various kinds of deposit account with different attractive features each of which may attract different groups of people. For example, Saving Certifcate Scheme introduced by Islami Bank is one of its unique services in the banking in Bangladesh. Even the bank does not provide any Customer Loan facility, which has been found very much profitable for those banks who have introduced it in their banking services. Bank should diversify its banking services and add new features in its services so that it can attract customers from all groups of people. Financial Engineers of IFIC Bank should be innovative in developing new banking services, which will attract customers and reduce costs. It can introduce customer loan scheme, provide bridge loan, or can engage in lease financing. It can also underwrite shares of newly incorporated public companies.

V. Bank should immediately enter into the credit card market


This bank does not have any plan to enter into the Credit Card Market. It is well versed that tomorrows payment will be consisted of only plastic money (Credit Card). A large part of business transaction will be done by credit card in near future. In western world, more than 50% of transactions are in credit card. If this bank does not prepare from now on, it cannot compete in the future market. So, the branch should give special attention to the introduction of Credit Card.

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VI. Introduce modern technology


Without using modern technology no bank can even think of remaining in the business in near future. So the bank must decide right now how it can equip its branches with modern technology. Use of modern technology in one sense can increase cost but another sense it increases productivity highly and it attract big clients. It can introduce ATM services is branch. Use of automatic machine like cash counter machine, ATM brings speed in banking services.

VII. Information System should be developed


For information transfer, branch uses primitive ways of telex, messenger and personal visit. It makes correspondence with the head office by peon or orderly. For international correspondence the branch uses telex machine, which is very costly. And in the branch, manager has to visit specific desk for collecting information. Paper communication is too involved between manager and employees. But branch can use INTERNET for both local and international correspondence. Email can reduce the telex cost substantially. Bank should take urgent decision to create own WEB Page in INTERNET so that it can communicate with others very quickly.

VIII. Development of human resources


Human resource is another sector for the branch to be developed urgently. Human resources, in the branch, are not equipped with adequate banking knowledge. Majority of the human resources are lack of basic knowledge regarding money, banking finance and accounting. Without proper knowledge in these subjects, efficiency cannot be optimized. Bank can arrange training program on these subjects. 46 | P a g e

IX. Reduce classified loan on an emergency basis


It is observed in the Loans and Advances department that classified loan is about to 36% of the total loan portfolio. Such a big share of classified loan indicates weakness in the lending policy of branch. Probably banks customer selection process is not right. Bank should take special action in order to reduce the amount of classified loan. Although branch is maintaining the required provision for its classified loan, branch should consider recovering classified loan on an emergency basis. For this bank should motivate the defaulter for repaying. If motivation failed, then bank should be stringent about the defaulter and take legal action.

X. Bank should remove the time card system


The oddest thing in this bank is that it maintains a time card system to maintain the attendance of the employee including manager of the branch. It is definitely effective system but it is simply used to record the work hour of the labors in any manufacturing concern in the western countries to make their payment effectively those who are hourly basis worker. This system cannot be employed to the high officials like Manger of the branch etc. this creates an inferior impact on the mind of the employees that they are ill treated which decrease their service providing quality.

XI. Bank must try to be computerized


There are computers almost in every branch in the IFIC Bank, but it does not mean that the bank is maintaining a network among them. The networking system obviously charges a high installation cost, but it will definitely reduce the overhead costs and an error free

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banking may be in progress. Moreover by adopting this system the bank can join in modern competition of along with e-commerce concept.

4.4 Conclusion
There are a number of Private Commercial Banks, Nationalized Commercial Banks and foreign Banks operating their activities in Bangladesh. The IFIC Bank Ltd. is one of them. For the future planning and the successful operation for achieving its prime goal in this current competitive environment this report can be helpful guideline. From the practical point of view I can declare boldly that I really have enjoyed my Internship Report on Training and development of IFIC Bank Ltd, from the first day. Moreover, Internship Report that is mandatory to complete my BBA program, although it is obviously helpful for my career building. In the last decade there has been a revolution in the communication media through the introduction of internet and other forms of secure dial-up media. This had an immense impact on all the sectors of the industry specially the banking sector. The number of banks is increasing day by day because the demand of the customer for the banking service is high .as a result there is a highly competitive situation in the banking sector and people have many option incase of taking banking services .As a central bank of Bangladesh The Bangladesh Bank always adopting measures for putting banking institution on right track and also monitors the activities of these banks to prevent from doing illegal activities. To compete in the environment of advancing technology and faster communication the IFIC should depend more heavily on the quality service and information technology. No doubt about it that IFIC achieve superior position in our banking industry but to cope with customer IFIC should think how to make it services proactive. To compete with 48 | P a g e

other banks operation in Bangladesh, IFIC should introduce easier way for faster processing of credit analysis.

Banks always contribute towards the economic development of a country. Compared with other Banks IFIC Bank Ltd is contributing more by investing most of its funds in fruitful projects leading to increase in production of the country. It is obvious that right channel of Banking establish a successful network over the country and increases resources; will be able to play a considerable role in the portfolio of development in developing country like ours. IFIC Bank Ltd playing its leading role in socio-economic development of the country. Since inception IFIC Bank Ltd has been rendering its Banking services with the needs of the nation to cope with the demands of people in the country. By doing many other works for state & society, IFIC Bank Ltd has emerged as the pioneer of playing key role in the country. As a leading bank of Bangladesh, IFIC contributes in the business with promising future. I can hope that IFIC can spread their business with increasing various scheme and other utility services.

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Bibliography
Books: Smigel, L. M. (2000). Basic Training for New Managers, Delhi: Replika Press Pvt Ltd. Noe, R. A. (2005). Employee Training and development, New York: McGraw-Hill. Jackson, S. & Schuler R. (2006). Managing Human Resources: A Partnership Perspective, South-Western Publishing. Bank Publications: Annual Reports of IFIC year 2007 Annual Reports of IFIC year 2008 Credit Risk Grading Policies of IFIC CRG Chart provided by Bangladesh Bank IFIC General Banking Policy Book IFIC Foreign-Exchange Banking policy guideline Academic Training & Research Division Report of IFIC Bank.

Website: www.ificbank.com www.bangladeshbank-bd.org www.wikipedia.co http://en.wikipedia.org/wiki/List_of_banks_in_Bangladesh

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Appendix Questionnaire
SECTION: A Name: Designation: Gender: Your highest level of education: (please tick one) 1. SSC 2. HSC 3. Bachelors 4. Masters 5. Others (please specify) SECTION: B 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.

A. Strongly Agree

B. Agree

C. Neutral

D. Disagree

E. Strongly Disagree

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QUESTIONS 1. Employee training and development is a part of organization development. A. Strongly Agree Disagree B. Agree C. Neutral D. Disagree E. Strongly

2. Employee training is an essential part of an organization. A. Strongly Agree Disagree B. Agree C. Neutral D. Disagree E. Strongly

3. Training and development is part of organizations target to achieve a goal. A. Strongly Agree Disagree B. Agree C. Neutral D. Disagree E. Strongly

4. Training program is very essential to support the employee career development of IFIC. A. Strongly Agree Disagree B. Agree C. Neutral D. Disagree E. Strongly

5. IFIC has a good training environment for their employee. A. Strongly Agree Disagree B. Agree C. Neutral D. Disagree E. Strongly

6. IFIC looking for employee development as long run. A. Strongly Agree B. Agree C. Neutral D. Disagree Disagree

E. Strongly

7. Employee training and development expenditure is one of organization investment A. Strongly Agree B. Agree C. Neutral D. Disagree E. Strongly Disagree

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8. The relation between top level, mid level and lower level is important to achieve organizations goal. A. Strongly Agree Disagree B. Agree C. Neutral D. Disagree E. Strongly

9. IFIC maintain all Employee Act as well for justify employees facilities given. A. Strongly Agree B. Agree C. Neutral D. Disagree E. Strongly Disagree 10. IFIC use useful method for training. A. Strongly Agree B. Agree C. Neutral Disagree

D. Disagree

E. Strongly

11. Top level management evaluates the training performance of the Employees. A. Strongly Agree B. Agree C. Neutral D. Disagree E. Strongly Disagree 12. IFIC understand the training needs for new employee. A. Strongly Agree B. Agree C. Neutral D. Disagree Disagree 13. IFIC arrange training program frequently. A. Strongly Agree B. Agree C. Neutral D. Disagree Disagree 14. Training methods are understandable for employee. A. Strongly Agree B. Agree C. Neutral D. Disagree Disagree 15. Employee is performing well after received training. A. Strongly Agree B. Agree C. Neutral D. Disagree Disagree

E. Strongly

E. Strongly

E. Strongly

E. Strongly

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16. Employee has opportunities to develop their skills. A. Strongly Agree B. Agree C. Neutral D. Disagree Disagree 17. IFIC also arrange cross training programs. A. Strongly Agree B. Agree C. Neutral D. Disagree Disagree 18. Customers are satisfied about your banking services. A. Strongly Agree B. Agree C. Neutral D. Disagree Disagree

E. Strongly

E. Strongly

E. Strongly

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