TABLE OF CONTENT
Title page i
Certificate ii
Dedication iii
Acknowledgment iv
Table of content v
CHAPTER ONE
1.0 Introduction 1
1.1
Statement of the problem 1
1.2
Research hypothesis 1
1.3
Objective of the study 2
1.4
Scope of the study 2
1.5
Definition of terms 2
CHAPTER TWO
2.1
Literature review 3
- 4
2.2
Historical perspective 4
2.3
First banks profit, conceptual framework 4 - 5
2.4
Review of theoretical benefit and cost of 5
foreign business (foreign direct investment) to host
country. 6 - 7
2.5
The role of bank in foreign business finance 7 - 9
2.6
Operation of foreign companies in Nigeria 9
2.7
BOIS product and services 9
CHAPTER THREE
3.0
Research methodology 10
3.1
Research design and identification of study
population 10
3.2
Determination of data collection instrument 10
3.3
Method of analyzing data and testing hypothesis 10
3.4
Limitation of data collection 10
CHAPTER FOUR
4.0 Analysis and presentation
of data 12
4.1
Presentation of data 12
4.2
Data analysis 13
4.3
Testing for hypothesis 13
- 16
CHAPTER FIVE
Summary, Conclusion and
Recommendation 17
5.1
Summary 17
5.2
Recommendation 17
-18
5.3
Conclusion 18
- 19
5.4
Suggestion for further research studies 19
Reference 20
Appendix 21
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND
OF THE STUDY
For Quite a long period in the history of banking the
foreign business function was relegated to the background yet the provision of
a wide range of bank service to bank customer had always involved some aspect
of foreign business.
Foreign business implies exchange of goods and
services among the citizen of sovereign state or countries.
This research is an appraisal and evaluation of the
role of banks in facilitating foreign business finance and the case study is
First Bank Plc. The research is looking at the approach of the First bank to
foreign business finance that is promoting foreign business links with Nigeria.
The financial system, consist of financial market,
financial instruments roles, connection and norms that major types of financial
intermediaries are universal banks development banks financial institution,
insurance companies credit and saving institution, investment and mortgage
institution. All these are also involved in trade activities, but on the other
hand, financial intermediaries are very relevant in the study because financial
intermediaries are very relevant in the study because financial intermediaries
provide a linkage between surplus units and deficit units in the economy. First
bank is one of the intermediaries that facilitate the promotion of business
link with Nigeria.
The role of banks involved the foreign business
finance is very important as to the business.
1.2 STATEMENT OF THE PROBLEM
The main thrust of this study is to analyze the role
of bank in foreign business finance that is the approach of First Bank plc to
international finance of business. This is with particular reference to the
first bank as sub sector of financial sector of Nigeria economy.
Nigeria
signed the world trade organization (WTO) agreement in December 1994 so it
became mandatory for Nigeria
to implement trade libercilization with effect from 1st January 1995. before then
the federal government of Nigeria
has imposed a regime of tariff and customs duties on the importation of goods
and services into the country (GATT)
It is necessary requirement by the government likewise
the bank to comply with it. Due to infrastructure deficiencies and imposition
of taxation at the various tiers of government. Namely: Federal government,
State government, local government.
1.3 OBJECTIVE OF THE STUDY
From the above scenario, it is pertinent to note that
major objectives for which the study is being undertaken are as follow:
i.
To examine the role of banks in foreign business
finance.
ii.
To examine the operation of the foreign company in Nigeria
iii.
To examine foreign investment requirement and
protection
iv.
To examine the nature and level of relationship between
First bank and other specialized banks in financing international business.
v.
To undertake a survey of possible and constraints of
the business financing and examine how these constraints can be moving or
reduced.
vi.
To investigate the opinion of the selected sector of
the population as to provide a suitable research work.
vii.
To review the existing and encourage considerable
measurement toward support of the foreign investor but better still
international business.
1.4 SCOPE OF THE STUDY
First Bank plc of Nigeria and other First Bank
correspondent banks these multilateral agencies provide financial assistance to
business managers (companies) with a view of promoting efficient use of
resources, information and accelerating sustainable economic development. These
agencies often require a relationship with a bank in the borrowing companies
country.
1.5 DEFINITION OF TERMS
Foreign Business: Known as foreign direct investment in any
country
Letter of Credit: This is a
confirmed credit the advising banks add its undertaking to pay the settlement
to that of the buyers (issuing) bank that opened with a correspondent bank’s
trade finance facility.
Bill of Collection: Is a
method of settlement whereby exporter said to that importer through
correspondent banks.
Issuing Bank: That is the bank
within the investor country e.g First Bank.
Correspondent Bank: That is
the bank outside the investor country e.g Baraday’s bank of South Africa.
Domiciliary Account: (Non-export
domiciliary account) the non-export or ordinary domiciliary account is mainly for
all foreign exchange receipts other than proceeds on non oil exports.
Expatriate Quota: Is the
official permit to a company conveying permission for the company individual
expatriate and also specifying permissible duration.
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