International Division

International Division

In this era of globalization, international banking business has become a common event with maximum importance in banking sector. Uttara Bank PLC. provides various types of support for international trade and inward foreign remittance in particular. The bank maintains foreign currency accounts with foreign banks abroad. Different foreign banks and exchange companies also maintain Non-resident accounts with our bank. International Division of the bank is playing a vital role for smooth and dynamic operation of foreign exchange transactions from time to time and maintains a coordination and continuous correspondence between foreign banks and authorized dealer branches of the bank. The division not only facilitates foreign trade and inward foreign remittance but also works for the expansion and enrichment of foreign correspondent relationship.

Function of International Division:

• Operating as assistant, advisor, guide and supervisor of the branches regarding their different issues related to foreign remittance and foreign exchange business.
• Acting as a gateway between branch and foreign correspondence
• Supervision of foreign trade related transactions
• Facilitator of Trade payment settlement
• Mitigation of various risks related to foreign exchange issues
• Maintenance and improvement of correspondent relations internationally

Components of International Division –

1. Remittance Service
2. Correspondent Banking
3. Trade Service
4. Standard Settlement Instructions (SSI)
5. Foreign Currency Accounts
6. Investment facilities through Bonds
7. Student File Service
8. SWIFT
9. Off-shore Banking Unit