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International Division
In this age of globalization, international trade has become a phenomenon with utmost importance. Modern banks provide various types of supports for international trade. They maintain foreign currency accounts with foreign banks in abroad. Besides time to time for smooth and dynamic operation of foreign exchange transactions, a coordination and continuous correspondence is required between foreign banks and authorized dealer branches of the bank. International Division comes forward to play its role and not only felicitates foreign trade but also works for the development and enhancement of foreign correspondence relationship.
Objectives of ID:
Facilitator of Trade payment Settlement
Acting as a gateway between branch and foreign correspondence
Supervision of foreign trade related transactions
Various risk mitigation related to Foreign exchange
Diversification of foreign exchange business products
Generating new mechanisms in foreign trade
Units of International Division:
Financial Institution Units
Nostro Reconciliation Units
Regulatory Reporting Units
Central Trade Services Unit
Off shore Banking Unit
Foreign Exchange compliance and guidance unit
SWIFT unit
Foreign remittance department
Treasury Back Office
Financial Institution Unit
The main task of this department is to established, maintain and enhance relationship with foreign correspondence both Banks and Financial institutions and also maintain account relationship with some high profile foreign banks in some major currencies.
Nostro Reconciliation Unit
Foreign trade involves various complicated and risky transactions between branch and foreign correspondence which creates long term effects in the bank�s balance sheet. To overcome these issues, reconciliation department is assigned to mitigate these risks by matching settlements of all foreign trade related transactions on time.
Regulatory reporting unit
This unit engaged in collection, compilation, formation, compliance, preparation and timely submission of various FX related reports to Bangladesh Bank and other regulatory bodies. It also maintains adequate and warm relationship with them.
Central Trade Services unit
In our constant quest for innovative and imaginative products, we have made several milestones. One such innovative milestone is Central Trade Services Unit (CTSU). We can proudly claim that our innovation, CTSU is the first platform for facilitating Non AD branches foreign trade operations with a separate AD license issued from Bangladesh Bank for this purpose. The main objective of CTSU is to act as a platform for all non AD branches of Bank Asia to facilitate their trade related transactions.
Off shore Banking unit
One of the new concepts in banking industry in Bangladesh is Off-shore banking Unit (OBU). In OBU, one can finance the EPZ customers under category �A� in foreign currency. Very few Banks have been given the permission to operate this off-shore banking unit and we are honored to be one of them. We were able to develop manpower to operate this unit smoothly and generate profit for the Bank.
Foreign exchange compliance and guidance unit
It one of the major duties of this unit of International Division to maintain compliance and provide time to time guidance of foreign exchange transactions to AD branches to ensure and minimize foreign exchange risks.
SWIFT Unit
In the banking community SWIFT is such a medium by which we can communicate electronically and in a secured manner to all foreign and local banks. Bank Asia established its SWIFT department since the inception of the Bank and gradually it increased its relationship with foreign and local banks and financial institutions around the world.
Treasury Back Office
The main task of treasury back office is to process the foreign exchange related transaction between branch and treasury front office. The basic fund management is to effect all sorts of payment settlement and receipt in foreign currency and ensure it is properly executed by the treasury back office.
Contact Management
Mr. Md. Zia Arfin
Vice President &
Head of International Division
Mobile : +88 0 1199866608
Email : zia@bankasia.com.bd
Mr. Mynul Ahsan
Senior Executive Officer
Mobile : +88 0 1711854565
Email : mynul@bankasia.com.bd
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