Assessment of Letter of Credit of HSBC

Abstract

As competition is raising the global standards for quality, increasing (he demand for advanced technology & innovation and increasing the value of customer satisfaction. the global market is swiftly changing from a seller's market to a buyer's market. This is a profound period of social, economic and political change and to remain competitive globally, organizations must be aware of all aspects of the emerging global economic order. Moreover, the evolution of global communications and its known and unknown impact on how international business is conducted can't be minimized Trade service is knmvn by various names in other banks, e.g. Trade Finance Foreign Exchange, Foreign Trade etc. However, the functions are the same. As the name suggests, this department is involved in facilitating trade, both international & within Bangladesh. HSBC is the leading provider of trade finance and reIated services to importers and exporters in Asia. Trade is considered a core business of the group. The group's presence in 81 countries of the world gives a good opportunity to control both ends of a trade transaction and keep the business within the Group. The various awards it has won from the leading publications of the world acknowledge HSBC's excellence in trade. The trade service department has two separate subsidiaries: Credit Administration & Foreign Exchange Division.