Chapter 1

Chapter-1

Introduction

1. IntroductionWith the opening up of the economy of Bangladesh, a dramatic change has been observed both in manufacturing and in service sectors. This has brought higher employment opportunities, increases in income level, and changes in consumption pattern and consequently there emerges a competitive environment in the country. Specifically, the expansion of banking business, along with customized services, has created a severe implied competition in this sector. This competition has made the service gap wider as private banks offer better services to their internal and external customers. The scenario has created an urge to the bank policy makers to identify the underlying reasons and brought them into consideration the job satisfaction issue. It will investigate that officer of Shahjalal Islami Bank Limited play the key role in manipulating their services through implementing policy.

1.1: Statement of the ProblemJob satisfaction is the reaction of the workers against the role they play in their work. The studies will designee to investigate the level of achievement of employees job satisfaction of Shahjalal Islami Bank Limited in Bangladesh.

1.2: Rationale of the Study

Todays business world is dynamic and competitive therefore organizations looking for talent, extrovert graduates who belong to high degree of adaptability quality. Todays business graduates will be the core part of business organization. So business graduates need to have both theoretical & practical knowledge to manage the business activity properly. In order to be familiar with organizational culture and to gain some practical knowledge about an organization our Department provides Eight to twelve week internship program as a part of the BBA program. After completion of the program period a student must submit the report on the assigned topic to the Supervisor and the department. This program carries three (3) credit hours out of 126 credit hours of the BBA program.

1.3: Background of the Report

I was assigned in Shahjalal Islami Bank Limited through my Internship supervisor. I was selecting Bangladesh Shahjalal Islami Bank Limited to perform my internship program as my honorable supervisor inspired me. I thought SJIBL being the prime development financing institution continued its effort to make an effective contribution towards expansion of industrialization process of Bangladesh. It seems to me that in SJIBL there is a sufficient opportunity to gain practical knowledge about the activities of a bank. The working environment is good and the employees are very much cooperative to provide practical knowledge about different functions of the bank. I selected a topic named "Job Satisfaction of Shahjalal Islami Bank Ltd." On the basis of this topic I have prepare my Internship Report.

1.4: Objective of the Report

1.4.1: Broad Objective:

The attitudes regarding job satisfaction are broadly related to the areas of intrinsic nature of work, wage and security, supervision, and company policies and practices. The broad objective of the study is descriptive analysis that employee satisfaction of Shahjalal Islami Bank Limited.

1.4.2: Specific Objective:

The Specific objective of the study is findings the results from the balancing and summation of many specific likes and dislikes of employees experienced in connection with their jobs. The present study deals with the two issues to analyze the job satisfaction of bank officers of the SJIBL in. The issues are:

The relative importance of job satisfaction factors. The impact of bank type, work experience, age and sex differences on the attitudes toward job satisfaction.

1.5: Scope of the ReportSince I have worked in the Shahjalal Islami Bank Limited, Tongi Branch, I get the opportunity to gain knowledge of different part of banking system. The supervisor divided into the whole banking in three parts. As a result I got the opportunity to work in all three divisions (investment division, general banking division, foreign exchange division). And from these three different departments or divisions, I hope that I will be capable of doing these types of jobs in the future. Moreover, as I am a HR student so my supervisor helps me to communicate with HR Department.

1.6: LimitationOn the way of my study in Shahjalal Islami Bank Limited, I faced the following problems, which may be termed as the limitations of the study. The major limitations of this study are given as follows:

There were some restrictions to have access to the information confidential by concern authority. Sufficient records, publications regarding customer service were not available as per requirement. Three-month is not sufficient time to gain practical knowledge and prepare a report. The employees of the bank are so much busy so they cannot provide me to give information. I have no proper experience to do this kind of report. So, inexperience creates obstacle to follow the systematic and logical research methodology.

1.7: Methodology: 1.7.1: Sources of Data Collection: 1.7.1.1: Primary Sources:

Primary data will be collecting by different sources. Observation of banking activities. Face to face Interviews. Employee survey data were gathering by analyzing responses to questionnaire. Experiences gained during performing duties for General Banking department and HR department. Discussion with officers of Shahjalal Islami Bank Limited.

1.7.1.2: Secondary Sources:

Annual reports of Shahjalal Islami Bank Limited. Various documents from General Banking department. Different websites, books. Internal Records.

Chapter-2

An Overview of Shahjalal Islami Bank Limited (SJIBL)

2.0: Historical Background of SJIBLShahjalal Islami Bank Limited (SJIBL) commenced its commercial operation in accordance with principle of Islamic Shariah on the 10th May 2001 under the Bank Companies Act, 1991. During last eleven years SJIBL has diversified its service coverage by opening new branches at different strategically important locations across the country offering various service products both investment & deposit. Islamic Banking, in essence, is not only INTEREST-FREE banking business, it carries deal wise business product thereby generating real income and thus boosting GDP of the economy. Board of Directors enjoys high credential in the business arena of the country, Management Team is strong and supportive equipped with excellent professional knowledge under leadership of a veteran Banker Mr. Md. Abdur Rahman Sarker.2.1: Shahjalal Islami Bank Limited at a glanceWith a view to materialize the dream of the people of Bangladesh for doing their banking transactions in line with what is prescribed by Islam, a group of highly successful entrepreneurs conceived an idea of floating a commercial bank styled as Shahjalal Islami Bank Limited which is named after the name of the renowned saint Hajrat Shahjalal who dedicated his life for the cause of peace in this world and hereafter and for the service of humanity. The sponsors are reputed personalities in the field of trade & commerce, industry and finance. Shahjalal Islami Bank Limited 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. Diversification of products and services include Corporate Banking, Retail Banking and Consumer Banking right from industry to agriculture, real estate to software and is backed by the latest technology.

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 achieved tremendous progress within only five years. 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. By now, the Bank established correspondent Banking relationship with 18 Banks covering their global network of 385 branches/units of International repute at different important locations. It also established accounting relationship with 10 Banks and maintaining 22 NOSTRO Accounts in 8 (eight) major Currencies at different convenient locations.

The Board of Directors of our Bank consists of reputed Industrialists and Businessmen who are successful in their respective fields headed by Mr. Sajjatuz Jumma, the Chairman of the Board who is an eminent Industrialist & reputed businessman in Bangladesh and current Chairman of Islamic Banks Consultative Forum (IBCF). The Board generally deals with policy matters relating to management of Business and sets goal for the growth & development of the Bank as a whole, review of the same from time to time and gives necessary guidance to the management.

The Bank is managed by a Team of professional Executives and Officials having profound banking knowledge & expertise in different areas of management and operation of Banks. The Team is headed by the immediate past Executive President and CEO of Islami Bank Bangladesh Ltd. (IBBL) for about 7 years. During his Incumbency, IBBL attained a remarkable growth & development. Above all, he had the opportunity to hold the position of Chairman of the Board of Directors of Islami General Insurance Company & then he Joined Shahjalal Islami Bank Ltd on February 25, 2004 as the Managing Director and Chief Executive Officer (CEO) to enrich Islamic Banking methodology in the Country.

During the short span of time, Shahjalal Islami Bank so far introduced a good number of attractive deposit products to broaden the resource base and also Investment products to deploy the deposit resources so mobilized. Some more schemes covering the deposits, Investments & Services will be introduced gradually in near future suiting to the taste and requirement of the clients. The Bank has a strong Shariah Council consisting of prominent Ulama, Fuquah & Economists who meet periodically to confer decisions on different Shariah issues relating to Banking Operation & to address them and to give necessary guidance to the management on Shariah Principle. Since inception, Bank has been performing in all the sectors i.e. general Banking, Remittance, Import, and Export & Investment. All our branches are fully computerized having on line Banking facility for the clients. 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.

2.2 Vision of SJIBLTo be the unique modern Islami Bank in Bangladesh and to make significant contribution to the national economy and enhance customers' trust & wealth, quality investment, employees' value and rapid growth in shareholders' equity.

2.3 Mission of SJIBL To provide quality services to customers To set high standards of integrity. To make quality investment. To ensure sustainable growth in business. To ensure maximization of Shareholders' wealth. To extend our customers innovative services acquiring state-of-the-art technology blended with Islamic principles. To ensure human resource development to meet the challenges of the time.

2.4: Objectives of SJBL

From time immemorial Banks principally did the functions of moneylenders or "Mohajans" but the functions and scope of modern banking are now a days, very wide and different. They accept deposits and lend money like their ancestors, nevertheless, their role as catalytic agent of economic development encompassing wide range of services is very important. Business commerce and industries in modern times cannot go without banks. There are people interested to abide by the injunctions of religions in all sphere of life including economic activities. Human being is value oriented and social science is not value- neutral. Shahjalal Islami Bank believes in moral and material development simultaneously. "Interest" or "Usury" has not been appreciated and accepted by "the Tawrat" of Prophet Moses, "the Bible" of Prophet Jesus and "the Quran" of Hazrat Muhammad (sm). Efforts are there to do banking without interest Shahjalal Islami Bank Limited avoids "interest" in all its transactions and provides all available modern banking services to its clients and wants to contribute in both moral and material development of human being. No sustainable material well- being is possible without spiritual development of mankind. Only material well being should not be the objective of development. Socio- economic justice and brotherhood can be implemented well in a God- fearing society.

The objectives of Shahjalal Islami Bank include:

ATo conduct interest-free and welfare oriented banking business based on Islamic Shariah.

BTo implement and materialize the economic and financial principles

of Islam in the banking arena

CTo contribute in sustainable economic growth.

DTo help in poverty alleviation and employment generations.

ETo remain one of the best banks in Bangladesh in terms of profitability and assets quality

FTo earn and maintain a 'Strong' CAMEL Rating

GTo introduce fully automated systems through integration of information technology.

HTo ensure an adequate rate of return on investment

ITo maintain adequate liquidity to meet maturing obligations and commitments.

JTo play a vital role in human development and employment generation

KTo develop and retain a quality work force through an effective Human Resources Management System.

LTo ensure optimum utilization of all available resources

MTo pursue an effective system of management by ensuring compliance to ethical norms, transparency and accountability at all levels.

2.5 Strategies SJIBL

To strive for customers best satisfaction & earn their confidence. To manage & operate the Bank in the most effective manner. To identify customers needs & monitor their perception towards meeting those requirements. To review & updates policies, procedures & practices to enhance the ability to extend better services to the customers. To train & develop all employees & provide them adequate resources so that the customers needs are reasonably addressed. To promote organizational efficiency by communicating company plans, polices & procedures openly to the employees in a timely fashion. To cultivate a congenial working environment. To diversify portfolio both the retail & wholesale markets.

2.6 Our Motto

Committed to Cordial Service.

2.7: Social Welfare ActivitiesWith a view to providing financial assistance to the poor and needy people of the society and also for the welfare of the community, to this perspective, bank has established Shahjalal Islami bank Foundation with the objective to provide health care, relief and rehabilitation, education, humanitarian of winter clothes during the winter etc. Shahjalal Islami Bank Foundation has a planning to establish the following projects and programs:

Shahjalal Islami Bank International School and College Shahjalal Islami Bank Hospital

The foundation have also drawn up programs to look after the education, health and medical requirements of all the people of rural areas where the bank has launched Rural Investment Programs with vision 2020. The foundation already introduced a program to reward poor student who passes SSC and HSC exam. Students who are not financially sound, the foundation gives financial assistance to them. The bank has started it from 2006 under these project 111 poor and meritorious students awarded by monthly scholarship and lump sum money at yearly basis. This will motivate students to do better in future. The bank appreciates the good things in the society. 2.8 Corporate Information Name of the CompanyShahjalal Islami Bank Limited

Legal FormA public limited company incorporated in Bangladesh on 1st April 2001 under the companies Act 1994 and listed in Dhaka Stock Exchange Limited and Chittagong Stock Exchange Limited.

Commencement of Business10th May 2001

Head OfficeUday Sanz, Plot No. SE (A)2/B Gulshan South Avenue,Gulshan - 1, Dhaka-1212.

Telephone No.+88-02-8825457, 8828142, 8824736, 8819385, 8818737

Fax No.+88-02-8824009

Websitewww.shahjalalbank.com.bd

SWIFTSJBL BD DH

E-mailsblho@shahjalalbank.com.bd

ChairmanAlhaj Mohammed Solaiman

Managing DirectorMd. Abdur Rahman Sarker

AuditorsM/S. Hoda Vasi Chowdhury & Co. Chartered Accountants Ispahani Bhaban 14-15 Motijheel C/A Dhaka-1000 Phone: +88-02-9555915, 9560332

Tax AdvisorM/S K.M Hasan & Co. Chartered Accountants 87, New Eskaton Road Dhaka. Phone: +88-02-9351457, 9351564

Legal AdvisorHasan & AssociatesChamber of Commerce Building(6th floor), 65-66 Motijheel C/A, Dhaka

No. of Branches74

No. of ATM Booth18

No. of SME Centers06

Off-Shore banking Unit01

No. of Employees1,811

2.9 Hierarchy of SJIBL

President & Managing Director (MD)

(

Deputy Managing Director (DMD)

(

Senior Executive Vice President (SEVP)

(

Executive Vice President (EVP)

(

Senior Vice President (SVP)

(

Vice President (VP)

(

First Vice President (FVP)

(

Assistant Vice President (AVP)

(

First Assistant Vice President (FAVP)

(

Senior Executive Officer (SEO)

(

Executive Officer (EO)

(

Senior Officer (SO)

(

Management Trainee (MT)

(

Officer

(

Junior Officer (JO)

(

Assistant Officer (AO)

(

Banking Officer (BO)

(

Trainee Officer (or Teller)

2.10 Board of Directors

Alhaj Anwer Hossain KhanChairman

Alhaj Md. Harun MiahVice ChairmanAlhaj Khondoker Shakib AhmedVice Chairman

Alhaj Sajjatuz JummaDirectorAlhaj Mohammad FaruqueDirectorAlhaj Tofazzal HossainDirector

Alhaj Md. Sanaullah ShahidDirectorAlhaj Md. FarooqDirectorAlhaj Mohammed HasanDirector

Alhaj Md. Abdul BarekDirectorAlhaj Mohammed SolaimanDirectorAlhaj Syed Nurul ArefeenDirector

Alhaj Abdul HalimDirectorAlhaj Mohiuddin Ahmed DirectorAlhaj Akkas Uddin MollahDirector

Alhaj Md. Towhidur Rahman DirectorAlhaj A.K. AzadDirectorAlhaj Mohammed YounusDirector

Alhaj Nazmul Islam NuruIndependent DirectorAlhaj Md. MasudAlternate DirectorAlhaj Rukun Uddin KhanAlternate Director

Alhaj Md. Abdul MannanSponsor DirectorMd. Abdur Rahman SarkerManaging DirectorMd. Emran HossainCompany Secretary

2.11 Green Banking

As bankers, waste goes against our grain, and frugality is a natural tendency. So it just makes sense that Green Bank would lead the way in finding ways to blend our customers financial interests with the interests of the environment. Best of all that environmental sensibility is paying off for our clients and for the planet

Our Vision

Our vision is to become a preferred provider for business and personal banking products and services, the employer of choice in the markets we serve, the investment preference for investors, and a champion for a cleaner, healthier green environment.

Our Mission

Green Bank is equally committed to all of our stakeholders customers, employees, communities and shareholders. We believe each of our constituencies is best served when all are served. Therefore, our mission is to:

Help our clients achieve economic success and financial security. Create a place where our employees can learn, grow, prosper and be fulfilled in their work. Make the communities where we operate better places to live and work. Optimize the long-term return to our shareholders, while providing a safe and sound investment in a socially responsible and resource-efficient enterprise.Our Promise

We are committed to behave in a manner that ensures the fair treatment of our stakeholders and to be a company that routinely does the right thing. We make these promises:

To behave in an ethical manner in all transactions and interactions. To act in environmentally and socially-responsible ways to support and strengthen the communities where we operate. To be responsive, accessible and timely. Make the communities in which we work better places to live. To have proper compliance processes measures and goals for achieving and surpassing all regulatory and legal requirements.Green Products

Finance for Farmers named as Krishan: This facility will be allowed to farmer for purchasing highly productive seeds, fertilizer and arranging irrigation.

Finance for farmer for tree plantation named as Shobujayon: This facility will be allowed for plantation in vacant lands that are not used for crops.

Finance for handicraft and jute products names as Kutir: This facility will be allowed for entrepreneurs for handicraft and jute products made out of natural material that will replace plastic and polythin products which are not disposable to the environment.

Finance for re-cycle industry named as Rupantor: This facility will be allowed for entrepreneurs of re-cycle industry made out of waste goods such as used paper, wood, glass, tin-pots, plastic bottles to make the environment clean and waste-management.

Finance for solar-panel named as Shobuj-Shokti: This facility will be allowed for house-holds, industries and business places for use of solar panel within the city and the rural off-grid areas to reduce of electricity.

Finance for industries names as Shobuj Shilpo: This facility will be allowed to the industries that are having waste management plant/arrangement and those that are not involved with any activities against environment.

Finance for ETP plants names as Shobuj poribesh: This facility will be allowed for installing ETP plants that makes the environment clean and green.

Finance for smokeless brick making technology: This facility will be allowed to the Brick fields that are using smokeless brick making technology (ZIG-ZAG) to replace the old traditional method to reduce carbon emission.

Finance for new technologies for manufacturing alternative burner/cooker and fuel: Micro finance will be allowed to the Bio-gas plants, manufacturer of alternative cooker and fuel out of used coal and husk to be used in lieu of fire-wood that will save the trees.

2.12 Account Services 1. Al Wadiah Current Deposit Accounts Minimum amount for Current Deposit Account: Al Wadiah Current Deposit Accounts shall be opened with a minimum of Tk. 5,000/ which is also the minimum balance required to be maintained by the Account holder.

Payment on Accounts demand: Funds in the Al Wadiah Current Deposit shall be payable on demand and the Bank guarantees repayment of such funds in full, less the Bank charges, if any in accordance with normal banking traditions, during the banking hours.

No Profit: No profit on Al Wadiah Current Deposit Account balances shall be allowed and the Bank at its own discretion uses the funds of Al-Wadiah current deposit accounts without any risk to the account holder.

2. Mudaraba Savings Deposit Accounts (Msd) Minimum amount for Mudaraba Savings Deposit Account

a. Mudaraba Savings Deposit Account shall be opened with a minimum of Tk.2, 000/ which is also the minimum balance required to be maintained by the Account holder for sharing profit on his deposit.b. The deposit is accepted on the basis of Mudaraba principle of Islamic Shariah and the fund is invested in accordance with Islamic principles and the Bank will have the right to invest such fund, at its own judgment in any Halal business with the consent with the depositors signing the rules contained on the reverse of the relative AOF.

One account in one name: Not more than one account should be opened in one name for the same purpose. Rate of profit: Profit on Mudaraba Savings Deposit Accounts shall be allowed at the rate as advised by Head Office from time to time under Mudaraba Principle. Profit application: Profit is to be applied on half yearly basis i.e. in June & December and Profit shall be accrued in each month. Two withdrawals a week

a. Maximum withdrawals of Tk.25, 000/ from Mudaraba Savings Deposit Account twice a week are admissible. b. Withdrawals from Mudaraba Savings Deposit Account upto a maximum 25% of deposits, which should not exceed Tk. 25,000/ in a week. For withdrawals of amounts over the above limit, the customer shall be required to give 7 days' prior notice in writing. But any amount can be withdrawn on surrender of profit for the month. c. No profit will be paid in a Mudaraba Savings Deposit Account for the month in which withdrawals have been made more than four times in a month or over 25% of the total deposit and above Tk. 25,000/ without notice. d. Service charge is applicable as in the case of Al-Wadiah Current Deposit Account and profit may be forfeited from the customers in cases where withdrawal is made more than twice a week or 25% of the deposit as detailed above e. The Bank at its discretion may realize maximum of Tk.50/ for each cheque returned unpaid in Mudaraba Savings Deposit Account outside Clearing House area. f. The Bank may at its discretion and without assigning any reason stop issuance of new chequebook or any form to a customer. g. The Bank may close the Account without assigning any reason therefor.

No Overdrawing: No Mudaraba Saving Account shall be allowed to be overdrawn

3. Mudaraba Term Deposit Accounts (Mtd)

Amount & the period of Mudaraba Term Deposit

a. Mudaraba Term Deposit Account shall be opened for a fixed period varying from 90 days, 180 days, and 360 days or above and are payable at a fixed date of maturity. b. Mudaraba Term Deposit Accounts can be opened with a minimum deposit of Tk.2, 000/.

Rate of profit: Profit on Mudaraba Term Deposit Account shall be at rates fixed by Head office from time to time depending on their period of maturity. Deposit of Longer duration naturally earns higher return at higher weightage. Profit on Mudaraba Term Deposit Account shall be payable at maturity of the deposits. The customers will have the option of withdrawing profit accumulated at maturity or on half yearly basis or may leave the profit with the principal

Separate contract

a. Each time a Mudaraba Term Deposit Account is opened it shall be considered as a separate contract and various deposits in the name of the same depositor or in the name of the members of the same family shall not be treated as one deposit. b. The depositors of this category also give their explicit consent in writing, through acceptance of rules, appearing on reverse of AOF, governing such deposit to the Bank to invest the same in any business it deems fit according to the principles of Islamic Shariah.

4. Mudaraba Short Notice Deposit Accounts (Msnd) Period of Notice

1. The deposits held in these accounts shall be payable on short notice period but the notice must not be less than 7 days.

2. The deposits may be accepted for the period and rates of profit are fixed by Head Office from time to time.

a. Profit shall be paid only for each day held, but profit on notice period will be forfeited; if withdrawn without notice. b. Profit on MSND account shall be applied on yearly basis (i.e. December each year) 2.13 Kinds of AccountsBranches may open any of the following kinds of accounts:

Accounts of Individuals. Joint Accounts. Proprietary Concerns. Partnership Concerns. Accounts of Private Limited Companies. Accounts of Public Limited Companies/Corporations/ Autonomous bodies.

Trust Accounts. Accounts of Liquidators Accounts of Societies, Associations, Clubs, Accounts of Local Authorities. etc.

2.14 SJIBL Deposit Scheme

Mudaraba Monthly Income Mudaraba Double Money Mudaraba Monthly Deposit Mudaraba Millionaire Mudaraba Haji Deposit Mudaraba Housing Deposit Mudaraba Small Business Mudaraba Cash Waqf Deposit Mudaraba Lakhopoti Deposit Mudaraba Bibaho Deposit Mudaraba Mohor Deposit Mudaraba Shikhkha Deposit Mudaraba Special Term Depo

2.15 Islamic Mode of Investment

Bai Mechanism:

Bai means purchase and sale of goods in cash or on credit or in advance at an agreed upon profit, which may or may not be disclosed to the client. Majority of investments of Islamic banks are extended through this mechanism. A good number of investment products have been designed to facilitate mainly working capital financing which goes as follows:

Bai-Murabaha Murabaha LC (Sight/Deferred): Through this mode of indirect facility, the bank facilitates import of goods of the client at fixed rate of service charge on invoice value Murabaha Post Import TR: This is post import finance under the principle of Bai, extended to retire Shipping Documents under LC opened. We buy the imported goods and sell the same to the importer at a cost plus an agreed upon profit repayable today or on some date in the future in lumpsum or by installments.

Murabaha Post Import Pledge: As like as Murabaha Post Import TR with an exception to security. Goods remain under the control of the Bank. Collateral security may or may not be obtained.

Bai-Muajjal Bai-Muajjal Commercial TR: It is an agreement between bank and client whereby bank delivers goods to the client upon deferred payment, i.e. the client shall pay the price at some future date at a time, by lumpsum or by installment. Under this mode of investment, bank is not supposed to disclose cost price and profit separately. Goods are delivered on trust and Trust Receipt is obtained for legal implication.

Bai-Muajjal (Real Estate): Mode of operation and principle of this product are alike Bai-Mujjal Commercial TR. Difference is with the purpose, i.e. the facility is only extended against construction or purchase of building, apartment etc.

Bai-Muajjal (WES Bill): Investment facility under this Mode is extended to liquidate ABP liability at maturity, when the client can not liquidate the liability as a result of non-repatriation of the related export proceeds.

Bai-Muajjal (Term): Under this mode of investment, term facility is given to meet clients requirement, which is repaid by a specific repayment schedule. Purpose is a bit different, such as to meet BG claim, etc.

Bai-Salam Bai-Salam (PC): This is export finance. Bai-Salam is a term used to define a sale in which the buyer makes advance payment, but the delivery is delayed until some time in the future. Usually the seller is an individual or business and the buyer is the bank. The Bai-Salam sales serve the interest of both parties:a. The seller- receives advance payment in exchange for the obligation to deliver the commodity at some later date. He benefits from the salam sale buy locking in a price for his commodity, thereby allowing him to cover his financial needs whether they are personal expenses, family expenses or business expenses.

b. The purchaser benefits because he receives delivery of the commodity when it is needed to fulfill some other agreement, without incurring storage costs. 2.16 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:

VISA Electron (SJIBL VISA Debit Card - local) VISA Prepaid (SJIBL VISA Prepaid Card)1. SJIBL VISA Prepaid (Prepaid Card - International)2. SJIBL VISA Prepaid (Prepaid Card - Dual)3. SJIBL Souvenir Card (Gift Card - Local)

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, Mudaraba Savings Deposit (MSD) or Mudaraba Short Notice Deposit Account.

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 use. 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.

2.17 Features Sense of satisfaction of having an International brand Anywhere anytime banking 24 hours and 7 days a week banking Directly linked to Cardholders Account at SJIBL (AWCD/MSD/MSND) Convenient Cash Withdrawal at ATMs Accepted at all VISA terminals locally & globally Local & International transactions with the same card (for Dual Cards) Balance Inquiry PIN Change Avoid pressure at counters of bank Minimizing risk of carrying cash More to come ...

Special Feature

No Cash Advance Fee at SJIBL ATMs Account is not required for Prepaid cards SMS Notification ServiceRequirements

SJIBL VISA Debit Card Local

Two copies of passport size photograph. A filled in SJIBL Card application form. Maintain a deposit (AWCD/MSD/MSND) Account at any branch of SJIBL.

SJIBL VISA Prepaid Card (Local / International / Dual)

Two copies of passport size photograph and personal information for customized card. Photocopy of passport from 1 to 7 pages including endorsement pages. Lien confirmation of FC A/C from the concern Branch for issuance of card against FC. For issuance of card against in ERQ A/C maintained with SJIBL or with other Bank, lien confirmation should be obtained from the respective Bank/Branch. For issuance of card against new exporters and importers/producers quota relevant papers such as, recommendation letter from EPB/copy of tax return etc. are also required. Deposit slip for deposited money against endorsement amount. Forwarding Letter from the respective Branch with detail particulars for card.

SJIBL VISA Prepaid - Local / Souvenir Card Two copies of passport size photograph and personnel information for customized card. Deposit slip for deposited money against Prepaid Local or Souvenir/Gift amount. Forwarding Letter from the respective Branch with detail particulars for card.

DescriptionTransaction Limit

Description Transaction Limit4 times per day

Cash withdrawal limit (amount)Tk. 30,000 per day(up to Tk. 50,000 per day on request)

Balance checking4 times per day

PIN change2 times per day

Invalid PIN retry count3 times per day

Card usage limit in ATMs (total)10 times per day

SJIBL VISA Card usage

SJIBL VISA Card can be used at Q-Cash, DBBL, Brac Bank and all VISA labeled ATMs in Bangladesh. Shopping at a large number of shops, restaurants, departmental stores, supermarkets, boutiques and other merchants through any VISA accepted POS terminals in Bangladesh. SJIBL VISA Prepaid Local/International/Dual Card can be used locally & globally in entire VISA labeled merchant outlets & ATMs.

2.18 Objective of Small and Medium Enterprise (SME) Investment Operation The SME Sector has been declared by the Government as a priority sector. In our country, Small and Medium Enterprises (SMEs) play the pivotal role for employment generation, poverty alleviation and overall economic growth of the country. It has been observed that fund is the major constraint of this sector. Therefore, we need to inject more funds into this sector in a much planned manner to boost-up this sector for the sake of overall economic development of the country. Our country is labour abundant and SMEs are typically labour intensive. So, the sector deserves more investment facility for smooth functioning of the existing enterprises and expansion of the same with a view to retain the workforce active as well as creating more employment opportunities. Further, investment in SMEs can be very effective in reducing poverty as well as ensuring long term economic growth.

Shahjalal Islami Bank Limited (SJIBL) is a modern commercial bank governed by the principles of Islamic Shariah, which is committed to implement and materialize the economic and financial principles of Islam in the banking sector. It has undertaken initiatives for investment in SME sector by introducing a number of SME products in the market gradually with a view to patronizing the trade, commerce and industrial entities with equity & justice and to make effective contribution for creating employment opportunities, which will ultimately help the nation for poverty alleviation from the society.

2.19 Foreign Remittance A. Western Union: Western Union Financial Services Inc. USA is the number one and reliable money transfer company in the world. This modern Electronic Technology based money transfer company has earned worldwide reputation in transferring money from one country to another country within the shortest possible time. Millions of people have confidence on Western Union for sending money to their friends and family. Through Western Union Money Transfer Service, Bangladeshi Wage Earners can send money quickly from over 280,000 Western Union Agent locations in over 200 countries and territories worldwide the world's largest network of its kind. Shahjalal Islami Bank has remittance drawing arrangement with the Western Union, largest global money transfer service provider. Under the agreement Bangladeshi expatriates living in different parts of the world can send their money safely and quickly to the beneficiaries in Bangladesh. Shahjalal Islami Bank has the arrangement for their Products: Instant Cash.

B. KushiaraKushiara Money Transfers 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 beneficiarys account in all over the Bangladesh. Payment may be made by bank deposit (Kushiaras account at Barclys Bank) or cheque or bank draft. Please do not send cash through post. We shall process the remittance request and post the customer copy of the remittance form to customers given address after the fund are cleared. The usual times for clearing of cheques require 3-5 working days. C. Zenj ExchangeZenj Exchange has grown from one single outlet manned by 3 staff into a firm of 12 branches spread all over Bahrain. It remains as a goal to continue expanding product base and providing quality service, while meeting the needs of all the communities under cover of their service. Thousands of people/expatriate in Baharain chooses Zenj Exchange to handle their hard-earned money. They know the time-tested network of Zenj Exchange has the safety reliability and speed that never lets them down. More people rely on Zenj Exchange than any other foreign exchange service provider to support families back home, rescue travelers in emergencies, aid students in foreign countries, monthly mortgage payments to a cross-border bank and keep businesses operation smoothly. Shahjalal Islami Bank has remittance drawing arrangement with the Zenj Exchange Co., Bahrain under this agreement Bangladeshi expatriates living in Bahrain can send their money safely and quickly to the beneficiaries in Bangladesh. Shahjalal Islami Bank has the arrangement for the Products: Turbo Cash, TT (Bank Transfer).D. National Exchange CompanyNational Exchange Company srl, Italy (NEC) has become one of the leading money transfer providers, with over 16000 locations and operates in 90 countries worldwide by partnering with global leaders in money transferring operation. The company's products can be found in more than 65,000 retail locations, including supermarkets, phone center, internet point, general retailers and convenience stores. National Exchange provides an easy to use, reliable and cost effective way to send money around the world. Their services are specially suited for individuals away from home who need to send money to their family and friends or to manage their personal finances. Shahjalal Islami Bank has remittance drawing arrangement with the National Exchange Company srl, Italy for facilitating Bangladeshi expatriates living in Italy to send their money safely and quickly to the beneficiaries in Bangladesh. Shahjalal Islami Bank has the arrangement for their Products: Instant Cash, TT (Bank Transfer).

E. MoneyGramThe MoneyGram brand is recognized throughout the world as a leading global payment services company. The diverse array of products and services we offer enables consumer and businesses to make payments and transfer money around the world. From New York to Russia or London to India - in more than 192 countries - MoneyGram's money transfer service moves money quickly and easily around the world. Shahjalal Islami Bank has remittance drawing arrangement with the MoneyGram, one of the global leaders in money transfer service. Under the agreement Bangladeshi expatriates living in different parts of the world now send their money safely and quickly to the beneficiaries in Bangladesh. Shahjalal Islami Bank has the arrangement for the Products: Instant Cash. F. MONEY EXCHANGEMONEY EXCHANGE is an industry leader in Spain in money transfers specially for immigrants who offers the best exchange rate and a very affordable fee is a Spanish Company specializing in International Money Transfers. They have a wide network of branches and authorized agents, which enables coverage of the whole domestic Spanish territory. A remittance drawing arrangement has been established between

Shahjalal Islami Bank Ltd and Money Exchange SA, Spain. Bangladeshi expatriates living in Spain can send their money safely and quickly to the beneficiaries by Electronic Fund Transfer through all of the branches of Shahjalal Islami Bank Ltd allover Bangladesh. Shahjalal Islami Bank has the arrangement for the Products: Instant Cash, TT (Bank Transfer).

G. Arabian ExchangeArabian Exchange is one of the oldest and leading Exchange Company in the Qatar remittance market who is in the remittance market since 1984. The customer can utilize their service with better rate of exchange and to have all types of remittance under one roof. Arabian Exchange Company always ensures 100% reliable and fast transfers and it is their key motto. Starting its journey towards doing Remittance and Currency Exchange business in 1979 Arabian Exchange Company W.L.L. has been running its activities through 3 branches with the Head Office in the heart of Doha City, Qatar. The other 2 branches are located in important areas of Qatar, one in Industrial Area and the other one in Ras Laffan City where the Natural Gas production of Qatar and related development works are taking place. A remittance drawing arrangement has been established between Shahjalal Islami Bank Ltd and Arabian Exchange Company WLL, Qatar. Bangladeshi expatriates living in Qatar can send their money safely and quickly to the beneficiaries by Electronic Fund Transfer through all of the branches of Shahjalal Islami Bank Ltd allover Bangladesh. Shahjalal Islami Bank has the arrangement for the Products: Instant Cash, TT (Bank Transfer).

H. Wall Street Finance:Wall Street Finance Ltd is a multi-national Group from India having diverse business interests in the fields of Logistics, Financial Services, Real Estate and Construction. The Group started its foray into logistics with the setting up of Patel Roadways Ltd. in India in the year 1959.

The diversification into financial services Business was initiated in the early Eighties through Wall Street Exchange Centre in Dubai. This money remittance company slowly and steadily spread its wings to Hong Kong, London and India. In the new Millennium, they set foot in North America with the setting up of Wall Street Finance, LLC in New York. They now hold licenses for four States- New York, New Jersey, Michigan and Georgia and an aggressive expansion plan is in the pipeline.

Shahjalal Islami Bank Ltd has a tie up with Wall Street Finance LLC, USA for remittance drawings. Under this agreement Bangladeshi expatriates living in USA can send their money safely and quickly to the beneficiaries in Bangladesh by Electronic Fund Transfer through Shahjalal Islami Bank Ltd.

I. Al-Ahalia Money Exchange: Al-Ahalia money exchange bureau established in 1996 is one of the leading exchange houses in the Middle East, primarily focusing on money transfers and money exchange. Beginning with a small branch in Mussafah Industrial Township, to become the most popular brand, Ahalia Exchange depicts an ongoing saga of success with rare matches found in foreign exchange, remittance market in the UAE.

To meet the emergency requirements of the customers who need to send money home in urgent situations, Ahalia Exchange has tied up with major online money transfer systems supported by advanced technology for sending and receiving money within minutes. A remittance drawing arrangement has been established between Shahjalal Islami Bank Ltd and Al Ahalia Money Exchange Bureau, UAE. Bangladeshi expatriates living in UAE can send their money safely and quickly to the beneficiaries by Electronic Fund Transfer through all of the branches of Shahjalal Islami Bank Ltd allover Bangladesh. Shahjalal Islami Bank has the arrangement for the Products: Instant Cash, TT (Bank Transfer).J. SWIFT: Shahjalal Islami Bank Limited is a member of the society for Worldwide Inter Bank Financial Telecommunication (in abbreviation S.W.I.F.T). SWIFT is the industry-owned co-operative supplying secure, standardized messaging services and interface software to nearly 8,100 financial institutions in 207 countries and territories. SWIFT members include Bank, broker-dealers and investment managers. The broader SWIFT community also encompasses corporate as well as market infrastructures in payments, securities, treasury and trade.

2.20 SWOT Analysis of SJIBL

Strength Weakness

( Good asset quality

( Satisfactory business growth

( Diversified product lines

( Good profitability

( Experienced top management

( Good operating efficiency( Negative retained earnings

( Dependent on fixed deposits

( Moderate risk management system

( Limited delegation of power

( MIS at primary stage

( Weak in Shariah compliance

( Limited branch network

( Limited market share

Opportunities Threats

( SME and Agro based business

( Real time online banking

( Credit card in duel currency

( Basel- II compliance to tap advantages

from RM system( Increased competition in the market

( Market pressure for increasing the SLR

( Market pressure for dollar crisis

Chapter-3

Review of the Literature

This study attempts to evaluate job satisfaction of bank officers in Bangladesh. It focuses on the relative importance of job satisfaction factors and their impacts on the overall job satisfaction of officers. It also investigates the impacts of bank type, work experience, age, and sex differences on the attitudes toward job Satisfaction. The result shows that salary, efficiency in work, fringe supervision, and co-worker relation are the most important factors contributing to job satisfaction. Private bank officers have higher levels of job satisfaction than those from public sectors as they enjoy better facilities and supportive work environment. Work experience is found as the second most important factor affecting job satisfaction. Sex and age differences have relatively lower level of impact on it. The overall job satisfaction of the bank officers is at the positive level.

3.0: Job Satisfaction

The concept of job satisfaction has numerous definitions. Some of these definitions may be listed as follows: According to Vroom (1967:99), job satisfaction is the reaction of the workers against the role they play in their work. Similarly, Blum and

Naylor (1968:364) define job satisfaction as a general attitude of the constituted by their approach towards the wages, working conditions, control, promotion related with the job, social relations in the work, recognition of talent and some similar variables, personal characteristics, and group relations apart from the work life. Job satisfaction is the total of the sentiments related with the job conducted. If the worker perceives that his/her values are realized within the job, s/he improvises a positive attitude towards h is/her job and acquires job satisfaction (Mc Cormic and Tiffin 1974:74). Job satisfaction has received extensive attention in organizational research during the past two decades (Farber, 1983; Hackman. & Oldham, 1980; Holtzman & Glass, 1999; Jayarantne & Chess, 1984; Kim, 2002; Maslach, 1986; Wagner & Rush, 2000; Zhao, Thurman, & He, 1999). Job satisfaction has been found to have a significant influence on job performance, absenteeism, turnover, and psychological distress (Andrisani, 1978; Davis, 1992). Thus, as an antecedent condition, job satisfaction influences employees job-related performance, which in turn affects employees occupational attainment (Felmlee, 1995). Job satisfaction can also be viewed as the consequence of factors that impinge on it. Such as the work environment and the reward structure offered on the job, as well as the family obligations of the employee (Andrisani, 1978; Davis, 1992). For instance, research with employees has demonstrated that job characteristics such as supervisor and co- worker support, pay, benefits, and job security increase employees job satisfaction as well as their attachment to their employer and the labor force in general (DeSai & Waite, 1991; Greenberger, Goldberg, Hamill, ONeil, & Payne, 1989). Job satisfaction has also been linked to positive workplace outcomes such as increased organizational commitment (Brown, 1993; Johnston et al., 1990). Workers with high levels of job satisfaction are more likely to commit to the organization (Brown, 1993). Furthermore, individuals with higher levels of job satisfaction demonstrate decreased propensity to search for another job (Sager, 1994) and a decreasing propensity to leave (Brown, 1993). Employee job satisfaction is an important factor in an organizational context because of the costs associated with hiring and training new personnel, as well as the costs associated with not having that individual contributing his/her work efforts towards organizational goals. These findings suggest that job satisfaction is one of the most important attitudinal issues facing employers in the workplace. Wagner and Rush (2000) have investigated organizational performance in the context of job satisfaction, pay satisfaction, and trust in management and peers, and organizational commitment as an antecedent of organizational performance in U.S. populations. Wagner and Rush argued that job satisfaction has, perhaps, been most consistently associated with organizational performance. They pointed out that the younger and the older workers may view work and self in fundamentally different ways. As a result, job satisfaction will differ for an employee in his/her life-career-stage. Wagner and Rush suggested that the early years (20-34) are years of establishment and settling down; later years (35-50) are associated with a stronger sense of self and location vis-a-vis life and work. Therefore, younger and older workers job satisfaction may differ in regard to their orientations towards self, others, and work. These differences may lead to different salient motives for altruistic performance among younger and older employees. Another study carried by Richmond and McCroskey (2000) also establishes as did the earlier research that employees job satisfaction will result in positive outcomes for the organization as a whole. They argue that supervisors positive behavior will increase employees job satisfaction, and will create a positive affect on the organization. The corollary in their study is that if the employees like their immediate supervisors, then they will have greater motivation towards their work and more satisfaction with that work. Kim (2002) noted that for public organizations to enhance performance and accountability human resources management strategies are required. He argued that in particular employees job satisfaction is related to employees performance. Kim conducted a study exploring the relationship between participative management in the context of strategic planning and job satisfaction in public organizations in US public organizations. The results show that managers use of a participative management style and employees perceptions of participative strategic planning processes are positively associated with high levels of job satisfaction. The study also finds that effective supervisory communication in the context of the strategic planning process is positively associated with high levels of job satisfaction. The study suggests that participative management that incorporates effective supervisory communications can enhance employees job satisfaction. Kim argued that in this regard organizational leaders in the public sector should emphasize changing organizational culture from the traditional pattern of hierarchical structure to participative management and empowerment. He further elaborated that increased job satisfaction leads to improved performance by the employees. Almost all theories of job satisfaction begin with a focus on the workplace itself (Zhao, Thurman, & He, 1999). Zhao et al. explored employees job satisfaction not only based on work environment but also in relation to employees demographic variables. Their study included employees education level, ethnicity, gender, rank, and years of service. Study results suggest that employees education level have a positive relationship with employees job performance and job satisfaction. The employees with master degrees tended to demonstrate the lowest levels of positive attitudes toward their jobs. Their study suggests that employees with and without a college degree have a different level of job satisfaction. Regarding ethnicity and gender, findings show that employees who are both white and male tend to be more satisfied with their jobs compared to both minority and female counterparts. Zhao et al. also noted that female employees are the least satisfied with their jobs. The study results suggest that employees rank and year or service is associated with job satisfaction. One of the primary researchers on job satisfaction, Vroom (1964), developed the expectancy theory to explain the dependence on an individuals evaluation of a task assignment and level of satisfaction, based on his or her willingness to perform the expected functions of a job. The tow-factor theory of job satisfaction developed by Herzberg (1968) was formulated from research on 1,685 employees in 12 different investigations. Findings from investigations suggest that satisfaction in the workplace is intrinsic to the job with which an employee is directly involved. That is, the stimulus for employees satisfaction is derived from job content that is found in the work environment (Herzberg 1968). Herzherg (1968) identified several important sources of job satisfaction in the work environment: The importance of the wok itself; The responsibility one has while doing the work; and The recognition received from doing ones work. In contrast, job dissatisfaction is a result of strict policies, overemphasis on rules, inadequate working conditions, and poor interpersonal relationships. Therefore, from a theoretical perspective, it seems reasonable to argue that a more comprehensive test of job satisfaction must include variables that measure a variety of job characteristics as well as individual employees attributes. One of the most influential models for investigating various dimensions of the immediate job environment was developed by Hackman and Oldham (1980). One key feature of this approach is its ability to measure some of the most important dimensions that can be commonly identified in a workplace at the individual employee level (Griffin & McMahan, 1994; Idaszak & Drasgow, 1987). On the basis of extensive research conducted to refine their measures, Hackman and Oldham (1980) identified five core dimensions for evaluating the immediate work environment they found that these core dimensions were correlated significantly with job satisfaction and employees motivation. Key among the underlying characteristics are the meaningfulness of the work (to what extend the individual perceives the work as significant and important), responsibility for the job (how far the individual feels personally accountable for the outcomes of the work), and the extent to which the employee has knowledge about the results of his or her efforts. According to Hacman and Oldham (1980), job meaningfulness is conceptualized as the product of five dimensions: Dimension 1: task identity (the extent to thick the job requires completion of a whole, identifiable piece of work, Dimension 2: task significance (how substantially the job of affects other peoples lives, Dimension 3: responsibility (the extent of the employees autonomy over how he or she will perform the work, Dimension 4: knowledge of results (feedback to the employee about the effectiveness of his or her efforts, Dimension, 5: Other groups of researchers define job satisfaction as a positive emotional state resulting from the appraisal of ones job situation and as linked with the characteristics and demands of ones work (Arches, 1991; Butler, 1990; Dressel, 1982; Locke, 1976; Smith, Kendall, & Hulin, 1967). From the above discussion it can be seen that organizational researchers have identified a number of possible antecedent constructs of job satisfaction. These include a variety of actionable work-related perceptions and attitudes. For example, supportive supervision is related to increased job satisfaction (Johnston et al., 1990). Likewise, other supportive aspects of the work environment may result in higher levels of job satisfaction (boles & Babin, 1996). Role stress, on the other hand, is negatively related to job satisfaction (Fisher & Gitelson, 1983). In fact, role conflict and role ambiguity may be the most important predictors of job satisfaction in many work settings. The literature concerning job satisfaction is very extensive. The purpose of this study is not to provide an exhaustive review of the job satisfaction literature. The literature cited in this section, however, does indicate that, across a variety of work settings, job satisfaction is an important construct in the workplace and one that is of concern for effective management.

3.1 Relative Importance of Attitude toward Job Satisfaction The attitudes toward job satisfaction need clarification for exploring their relative importance as they are linked to intra-personal disposition of human beings. In this context, job satisfaction projects individuals attitudes involving information that is generally acquired by an employee about workplace over a period of time. It results from the balancing and summation of many specific likes and dislikes of employees experienced in connection with their jobs (Haung, 1999; 1994; Locke, 1976). The attitudes regarding job satisfaction are broadly related to the areas of intrinsic nature of work, wage and security, supervision, and company policies and practices (Ganguli, 1994). The widely used instruments for measuring job satisfaction are: Job Descriptive Index (JDI) and Minnesota Satisfaction Questionnaire (MSQ) that measure mentally challenging work, equitable rewards, and opportunities for promotion, supportive working conditions, and supportive colleagues (Haung, 1999). This factor provides the maximum insights of job satisfaction of bank officers in Bangladesh. It broadly includes the areas of job satisfaction such as, salary, company policies and practices, and promotion chance. The eight variables contain in the factor salary are: satisfied with present salary, bank is sympathetic to the officers view, bank appreciates performance, satisfied with increment allocation method, income is higher than other banks, satisfied with the chances of promotion, satisfied with the welfare facilities, and satisfied with the chances of income increase. Hence, the policy makers in the banking sector in Bangladesh should give greater importance on these variables concerning salary, company policies and practices, and chance for promotion to increase job satisfaction of the officers.

The second important factor is efficiency in work that accounts for 9.37% of the variance and it broadly covers areas of job satisfaction including job security, supervision, and supportive colleagues. The variables are namely, not lose job if worked efficiently, immediate supervisor is reasonable, satisfied with the recognition by colleagues, and superior encourages suggestions for improvement. The other six factors are almost equal in their ability to account for the variation of level of job satisfaction with comparatively low exigent values.

3.2: Impact of Bank type, work experience, age and sex Differences on Job Satisfaction:Previous researchers have found relationships between job satisfaction and age, sex, (Pugliesi, 1995; Cheung and Scherling, 1999) and work experience (Steffy and Jones, 1990). In this section, the impacts of bank type, work experience, gender, and age on the attitudes, rather than factors, toward job satisfaction of bank officers is assessed. This has been done with a view to obtaining more insights on the impact. The results shows that the variables recovery significantly with the type of bank public and private. It means that there is a variation in the level of job satisfaction of bank officers depending on the type of bank in Bangladesh In other words; type of bank is a significant explanatory variable for the job satisfaction level. Fourteen job satisfaction variables, broadly representing the areas of company policies and practices, salaries and facilities, opportunities for promotion, and relationship between union and management, are significantly related to the bank type. Work experience has the second most importance on four variables taken in the study (job gives chances to do things felt best, satisfied with increment allocation method, income is higher than other banks, and would not leave job if similar job offer to other organization). These variables confirm a significant relationship with experience of bank officers. These relationships broadly indicate that experience affects the areas of job satisfaction including policies and practices (job gives chances to do things felt best and satisfied with increment allocation method), salary and facilities (income is higher than other banks), and to the company (would not leave job if similar job offer to other organization). It could be explained that officers with higher experience hold higher level of work freedom, have more financial and non- financial benefits, are more familiar with organizational policies and practices, and have greater loyalty to the bank.

Sex and age differences have relatively lower level of impact on the entire set of variables, which are manifested through the significance of bank is sympathetic to officers views and banks policy is to overdrive workers to get the maximum respectively in the test. Sex differences have only impact on the banks sympathy to the officers views, while age differences leave impact on banks policy to overdrive workers to get the maximum. Sex differences in particular could be described as an interesting issue in the socio-economic context of Bangladesh. It is generally viewed that female employees are somewhat neglected in their work places and consequently, they are prone to a relatively lower level of job satisfaction. This study defies this view endorsing almost no sex discrimination in the female bank officers. Age differences of bank officers have also negligible impact on the full set of variables of job satisfaction. None of the interactions from these four factors bank type, work experience, sex, and age - was found significant.

Chapter-4

Research Methodology

4.0: MethodologyMethodology can properly refer to the theoretical analysis of the methods appropriate to a field of study or to the body of methods and principles particular to a branch of knowledge. Methodology has been increasingly used as a pretentious substitute for method in scientific and technical contexts. Methodology is a system of precise rules and procedures on which research is based and against which claims for knowledge and evaluation. This method is neither closed nor flawless. Rather the rules and measures are constantly being improved (David Nachmias, 1992).

4.1: Research designThe researchers for this study have chosen correlation research design. According to the proposed framework the researchers are finding the significant positive or negative change in variables (dependent) because of change in one (independent) variable. The previous graphical representation of the proposed model portrays the pattern and structure of the relationships among the set of measured variables. The purpose of the study is to investigate the relationship of the measured variables and the correlation among the variables.

4.2: Research ApproachTo investigate the research questions, the researcher gathered information from bank employees, bank managers and bank experts. All participation was voluntary. If the participants wished to take out, they were free to do so at any time without any condition. All the participants were given a letter from the researcher explaining the context of the research focus. Participants signed a consent form and held in reserve a copy as their record. A signed copy was returned to the researcher.

4.3: Research InstrumentsThe researcher required primary data to investigate the research problem. Because, it was found that there was lack of secondary data (e.g. articles, journals, magazine, and records on human resource management) in the case of SJIBL. To collect data from the primary sources, the researcher used questionnaire and interview methods. In order to gain information from the bank employees the researcher used the questionnaire method. The questionnaire was a useful method to collect data from employees for the following reasons. First of all, survey about 25 employees of the Tongi branch of SJIBL.

Second of all, the existing study was about achievement motivation and employees performance, and employees might felt unenthusiastic to confer these issues with an interviewer. The researcher selected the interview method not only for in-depth information but to verify the information gather from responses gained from the employees questionnaires.

4.4: Data Collection4.4.1: Pilot Test of QuestionnaireThe first tread in the data collection was distribution of the pilot test of the questionnaire. The questionnaire was pre-tested with 8 SJIBL employees who were attending training in Bangladesh Institute of Bank Management (BIBM). These employees have worked in different SJIBL branches in Bangladesh. Burns and Bush (1998) suggested that a pre-test of 5-10 representative respondents is usually adequate to identify problems with a questionnaire. Pilot study is done to check out procedures that are to be incorporated into a more extensive study. The results of a pilot study can considerably improve the planning and increase the chances for success of a subsequent larger scale experiment (Saslow, 1987).

4.4.2: Survey Instruments:

4.4.2.1: Questionnaire:

The data for the present study were obtained by the administration of a questionnaire, which contained two parts, the first part contained columns for personal information and the second part contained achievement satisfaction scale as constructed and standardized by Au (1979) to measure achievement motivation. The scale consisted of 20 statements concerning achievement themes, namely anti traditionalism, regularity and punctuality, work habit, initiative, sense of responsibility, risk taking, spirit of independence, optimism, leadership quality and ability to guide, concern for efficiency, spirit of competition and anti fatalism.

4.4.2.2: Interview ScheduleThe interview is also used semi-structured interviews as an instrument to collect data from the bank managers and the bank experts. To collect data, the researcher carried out each interview in a face-to-face situation. This draw near to data collection is extremely useful in situations where either in-depth information is needed or little is known in the area (Kumar, 1997). Cooper and Schindler (1998) noted that if the researcher has sample size, a self-administered questionnaire would be most effective in regard to time and cost. The in-depth interview distant exceeds the information secured by self-administered studies. Cooper and Schindler also affirm that interviewers can ask additional questions, and gather supplemental information through observation. Both managers and experts are comprised of a small group; hence, the study has utilized the semi-structured interview method. The most important advantage was derived from the capability of the interview technique to enable discussions of multifarious topics and thus endow with rich and more complete data (Smith, Thorpe, & Lowe, 2002).

4.5: Data Collection ProcedureThe questionnaire was administered individually to the 25 employees in the study. Respondents were assured that it was purely an academic research and that their personal identity would be kept secret. Any difficulties in understanding the instructions and in the methods of- answering the questionnaire was made clear and it took 20 minutes to answer the questionnaire. After the questionnaires were filled in by the respondents, these were collected and checked for consistency. Scoring of the responses were done following the procedure provided by the author of the achievement satisfaction scale(Ali, 1979).After collection of data, performance of each respondent was taken from the concerned bank manager of each subject. The content of the semi-structured interview consists of question which will be predetermined to gain information about the way managers saw themselves using power, motivational esteems in relation to their employees.

4.6: Data Analysis ProceduresTo analyze the quantitative data, the researcher explored the internal structure and measurement qualities of the proposed hypothetical constructs job satisfaction and employees performance. The output of the research has shown in graph by using graphical method.

Chapter- 5

Analysis & Interpretation

5.0: AnalysisThe present study deals with the three issues to analyze the job satisfaction of bank officers in Bangladesh. The issues are:

(i) The relative importance of job satisfaction factors;

(ii) The impact of bank type, work experience, age and sex differences on the attitudes toward job satisfaction. It also investigates the impacts of bank type, work experience, age, and sex differences on the attitudes toward job Satisfaction. The result shows that salary, efficiency in work, fringe supervision, and co-worker relation are the most important factors contributing to job satisfaction. Work experience is found as the second most important factor affecting job satisfaction. Sex and age differences have relatively lower level of impact on it. The overall job satisfaction of the bank officers is at the positive level.

1. A job where the pay is very good.

Frequency Percentage % Valid Percentage % Cumulative Percentage %

Strongly Disagree 0

0

0

0

Disagree

4

16

16

16

Neutral

15

60

60

76

Agree

5

20

20

96

Strongly Agree 1

4

4

100

Total

25

100

100

2. A job where there is considerable is creative and innovative.

Frequency Percentage % Valid Percentage % Cumulative Percentage %

Strongly Disagree 3

12

12

12

Disagree

5

20

20

32

Neutral

10

40

40

72

Agree

5

20

20

92

Strongly Agree 2

8

8

100

Total

25

100

100

3. A job where you are often required to make important decisions.

Frequency Percentage % Valid Percentage % Cumulative Percentage %

Strongly Disagree 3

12

12

12

Disagree

4

16

16

28

Neutral

12

48

48

76

Agree

5

20

20

96

Strongly Agree 1

4

4

100

Total

25

100

100

4. A job in which greater responsibility is given to those who do the best Work.

Frequency Percentage % Valid Percentage % Cumulative Percentage %

Strongly Disagree 0

0

0

0

Disagree

0

0

0

0

Neutral

10

40

40

40

Agree

10

40

40

80

Strongly Agree 5

20

20

100

Total

25

100

100

5. A job in which greater responsibility is given to loyal employees who have the most seniority.

Frequency Percentage % Valid Percentage % Cumulative Percentage %

Strongly Disagree 0

0

0

0

Disagree

2

8

8

8

Neutral

10

40

40

48

Agree

5

20

20

68

Strongly Agree 8

32

32

100

Total

25

100

100

6. A job in which you are not allowed any say whatever in how your work is scheduled, or in the procedures to be used in carrying it out.

Frequency Percentage % Valid Percentage % Cumulative Percentage %

Strongly Disagree 0

0

0

0

Disagree

3

12

12

12

Neutral

10

40

40

52

Agree

8

32

32

84

Strongly Agree 4

16

16

100

Total

25

100

100

7. A job where your co-workers are not very friendly.

Frequency Percentage % Valid Percentage % Cumulative Percentage %

Strongly Disagree 20

80

80

80

Disagree

2

8

8

88

Neutral

3

12

12

100

Agree

0

0

0

100

Strongly Agree 0

0

0

100

Total

25

100

100

8. A job with a supervisor who is often very critical of you and your work in front of other people.

Frequency Percentage % Valid Percentage % Cumulative Percentage %

Strongly Disagree 20

80

80

80

Disagree

2

8

8

88

Neutral

3

12

12

100

Agree

0

0

0

100

Strongly Agree 0

0

0

100

Total

25

100

100

9. A job, which prevents you from using a number of skills that you, worked develop.

Frequency Percentage % Valid Percentage % Cumulative Percentage %

Strongly Disagree 20

80

80

80

Disagree

2

8

8

88

Neutral

3

12

12

100

Agree

0

0

0

100

Strongly Agree 0

0

0

100

Total

25

100

100

10. A job with a supervisor who respects you and treats you fairly.

Frequency Percentage % Valid Percentage % Cumulative Percentage %

Strongly Disagree 0

0

0

0

Disagree

0

0

0

0

Neutral

10

40

40

40

Agree

10

40

40

80

Strongly Agree 5

20

20

100

Total

25

100

100

11. A job which provides constant new and interesting opportunities for you to learn.

Frequency Percentage % Valid Percentage % Cumulative Percentage %

Strongly Disagree 0

0

0

0

Disagree

0

0

0

0

Neutral

15

60

60

60

Agree

8

32

32

92

Strongly Agree 2

8

8

100

Total

25

100

100

12. A job where there is a real chance you could be laid off.

Frequency Percentage % Valid Percentage % Cumulative Percentage %

Strongly Disagree 20

80

80

80

Disagree

2

8

8

88

Neutral

3

12

12

100

Agree

0

0

0

100

Strongly Agree 0

0

0

100

Total

25

100

100

13. A job in which there is a real chance for you to develop new skills and advance in the organization.

Frequency Percentage % Valid Percentage % Cumulative Percentage %

Strongly Disagree 0

0

0

0

Disagree

3

12

12

12

Neutral

10

40

40

52

Agree

8

32

32

84

Strongly Agree 4

16

16

100

Total

25

100

100

14. A job which provides lots of vacation time and an excellent fringe benefit package.

Frequency Percentage % Valid Percentage % Cumulative Percentage %

Strongly Disagree 0

0

0

0

Disagree

0

0

0

0

Neutral

15

60

60

60

Agree

8

32

32

92

Strongly Agree 2

8

8

100

Total

25

100

100

15. A job with little freedom and independence to do your work in the way you think best.

Frequency Percentage % Valid Percentage % Cumulative Percentage %

Strongly Disagree 0

0

0

0

Disagree

0

0

0 0

Neutral

10

40

40

40

Agree

10

40

40

80

Strongly Agree 5

20

20

100

Total

25

100

100

16. A job where the working condition are average.

Frequency Percentage % Valid Percentage % Cumulative Percentage %

Strongly Disagree 0

0

0

0

Disagree

3

12

12

12

Neutral

10

40

40

52

Agree

8

32

32

84

Strongly Agree 4

16

16

100

Total

25

100

100

17. A job with very satisfying team-work.

Frequency Percentage % Valid Percentage % Cumulative Percentage %

Strongly Disagree 0

0

0

0

Disagree

0

0

0

0

Neutral

15

60

60

60

Agree

9

36

36

96

Strongly Agree 1

4

4

100

Total

25

100

100

18. A job which requires you to challenge completely isolated co- workers to contribute.

Frequency Percentage % Valid Percentage % Cumulative Percentage %

Strongly Disagree 0

0

0

0

Disagree

11

44

44

44

Neutral

10

40

40

84

Agree

4

16

16

100

Strongly Agree 0

0

0

100

Total

25

100

100

19. A job which allows you to use your skills and abilities to the fullest extent.

Frequency Percentage % Valid Percentage % Cumulative Percentage %

Strongly Disagree 0

0

0

0

Disagree

0

0

0

0

Neutral

10

40

40

40

Agree

10

40

40

80

Strongly Agree 5

20

20

100

Total

25

100

100

5.1: Interpretation of the data:

There are 20% employees are satisfied with their paying systems. These 20% employees are mid level employees and having experience in banking sector. Moreover t he management trainee officers also are including in the 20%. However 4% of the total employees are more satisfied with their paying systems that have the SAVP designation (graph 1).

In banking sector those are in IT section and also clearing section. Those jobs are creative and innovative. To provide customer service the employees are solving customer problems with creativity. 20% of the employees agree that their work is creative and innovative. 8% of the employees strongly agree that (graph 2). This job provides constant new and interesting opportunities for the employees to learn. 40% of the employees agree that they have scope to learn a new thing (graph 11). However they have real chance to adopt skills and advanced technologies to learn new things. 48% of the employees agree that they can improve themselves (graph 13). To take major decisions only manager can decide. In some cases manager consult with his assistant and junior manager to take decision. 20% agree with this statement and 4% strongly agree (graph 3). The manager of the KBB has given more responsibility that does the best work. There are 40% employees agree and 20% strongly agree with the statement (graph 4). Moreover major responsibility is also given according to most seniority and experienced person (graph 5).

In banking sector the job are scheduled. The officers are following that schedule but sometimes senior and managerial employee can share information of job schedule for the welfare of the organization. 12% of the employees disagree and 40% are in neutral position (graph 6). The working environment of KBB of the SJIBL is very friendly. 80% of the employees agree that their co-worker are very friendly (graph 7). Moreover they are very satisfied as a team, 40% of the employees agree this and 60% remain neutral (graph 17). The supervisor is not much critical in working place. 80% of the employees are satisfied with their supervisor (graph 8). Graph 10 shows that 60% of the employees agree that the supervisor treat fairly with them.

The SJIBL provide a lot of vacations and excellent fringe benefit package to the employees. The employees of SJIBL enjoy their leisure period and fringe benefit package. 40% of the employees agree with this statement (graph 14). The employees feel freedom and independence at their working place. 40% of the employees agree and 20% strongly agree that (graph 15).

The employees of the SJIBL can use their skills and abilities to the fullest extent at their working place. 40% of the employees agree and 20% of the total employees strongly agree this statement.

The job security of the SJIBL is very rich. The employees never feel anxious during their working period. Because the chance of being laid off is low, except a major fault no employees can be laid off. 80% of the employees strongly agree that they feel secured of their job (graph 12).

Chapter-6

Finding, Recommendations & Conclusion

6.0: FindingsJob satisfaction is the total of the sentiments related with the job conducted. If the worker perceives that his/her values are realized within the job, s/he improvises a positive attitude towards h is/her job and acquires job satisfaction (Mc Cormic and Tiffin 1974:74). I heard a story that Mr. X worked in a multinational company with a good designation.

As he works a multinational company so his salary, compensation and benefits are global standard. He get a lot of facilities from rising to bed in the morning to before going to bed at night. Now a million dollar question, Is he satisfied?" After analysis and interpreting the data I tried to find that why the employees are satisfied and why not?

SJIBL is a private bank. So, the employees are getting more salary rather than t he nationalized commercial banks. So, from this view the employees of the SJIBL are satisfied. The salary range of the SJIBL of the entry level is not sufficient with the comparison of other private banks in Bangladesh. So, from this view they are dissatisfied with their salary at the entry level. The employees of SJIBL enjoy much vacation rather than the other private commercial banks. Such as female employees enjoy 3 months maternity leave. The male employees also get paternity leave and the length of the leave is 1 month. The employees get a big amount of medical convenience two times in their working period. So, they feel secured of health during their working period. SJIBL provides more incentives rather than the other private banks. In this year they provide 7 (seven) incentives excluding the Eid bonus on their profit. To keep the employees motivated, incentives, performance reward, promotion and accelerated promotion etc are given on a regular basis by the SJIBL authority. The SJIBL has introduced a good number of stuff welfare schemes. Schemes to be a part with the banking communities and improve the conditions of its employees such as contributory recognized provident fund, gratuity fund, benevolent fund. The working environment of the SJIBL is very friendly. The employees are satisfying with their co-worker as a work in a team. In banking sector some employees have opportunity to upgrade themselves in working period such as the employees of the IT, Foreign Exchange, investment department. In other side the employees of the cash & customer service department have no scope to show creativity in working period. I thought its a boring job. From this view they are dissatisfied sometimes. The accountants job is very important to the organization. They do a lot of work from the day start to closing. I think one employee work on the behalf of two peoples. Sometimes they feel stress that is harmful for them.

The job security of the SJIBL is very rich. The employees never feel anxious during their working period. Because the chance of being laid off is low, except a major fault no employees can be laid off. The employees strongly agree that they feel secured of their job.

We are the human being. Our mood and emotions while working are the raw materials which cumulate to form the affective element of job satisfacti