Monday, August 9, 2010

9th week off to Cesme

I spent five days in Cesme. The beach there was amazing. The best beach I've ever been too. I also went on a boat to go to an island. It was a really fun experience to jump off the boat and drive into the sea. I also learned how to play backgammon while I was there. It is Turkish tradition to play backgammon and to drink Turkish coffee at the same time. I have the best time in Cesme.

8th weekend

I took a week off to go to Cesme. This is another city in Turkey. I decided to go there because my friend from Thailand was coming to visit his friend in Turkey. His friend's name is Alp. He's Turkish and his family owned a house in Cesme. I took the bus from Saturday night and arrived Cesme on Sunday morning. It's about nine hour bus ride. I was exhausted. from the bus ride. The first I did was to have breakfast. The Alp's house serve Turkish breakfast that includes Turkish sausage, honey, butter, seasoned fresh tomatoes and cucumber with bread. Then we are off the beach.

8th week in domestic international department

I only have one week in domestic international department. There are two kinds of job, which are to take checks and to take invoices. This department checks marketing division and control customer's financial situation. There is a program that calculates how many the factoring company should pay the customer after deducting commission and interest rate. Lastly, the payment instruction from customer is made.

6th week in Operation Department

This week is the first week in operation department. I am specifically in international department. The main task in international operation department is to control the document and make transaction. The document includes shipping document and invoices. I have a chance to check risk, collateral, receivable, and limit. I also have a chance to send invoice and credit note to other factor correspondent in different countries. FIBA factoring also investment in a system called "Infact". This system keeps tracks of all the receivable from all clients.

5th week

I am still in international department. There is nothing much to learn at this point about this department. I was also assigned to work on a project. It is a power point presentation, which I have to explain what I learned about factoring company. At the end of the internship. I will have to present this power point presentation to people in the office.

The international manager also explains what I should include in the power point presentation. She also explains different types of services in factoring and different of trading. For instance , the four different way of trading includes case, L/C (letter of credits), CAD (cash against document), CAG (cash against goods).

I am also offered to take Turkish 101 course at Ozyegin University. The course will last for a month with American minority. The class is in the morning, so I will be going to work for half a day in the afternoon. I think I would be fun to meet new people and learn new language.

Monday, July 5, 2010

4th weekend

I went to Emirgan Park and then to museum. This is also an event called "1800 years of Turkey" in the museum. I also had lunch at there, which is one of the local restaurant. It had Turkish fusion food. Then I went to Rumeli Castle. This has the best view of the bridge that links between the European and Asian side of Turkey and most importantly, the Bosphorus.
On Sunday, I went to the best mall in Turkey, which is called "Istinye Park". I did some shopping and had Italian food there. This weekend is probably the best weekend in Turkey.

4th week in international department

This is the first week for me in an International department. I learned what they generally do in this department. Everyone in this department can speak English since they have to deal with their client internationally. I also did some data entering. It is a system between Fiba factoring company and their correspondent factoring company to exchange information about client's and client's buyer's financial status. This is like a "SWIFT" system of the banking business.

Tuesday, June 29, 2010

3rd weekend

Emily and I went to one of the Prince's Island, which is a very famous island in Istanbul. It took about one hour to get to the island. The island is popular for seafood and the architecture of the houses. There are horse riding around the island and the a bike to ride. However, we just walked around. We also stopped at one of the restaurant. I had one local dish of local fish. They called it red mullet.

We took the same ferry back to the dorm but we were so tired that we missed our stop because both of us were sleeping. However, I manage to find another ferry back to our dorm.

Monday, June 21, 2010

2nd weekend

This weekend is really interest. I went to tour around the historical site alone, without knowing how to speak Turkish. It was fun and adventurous. However, I asked someone people in my office how to get there. I have to take a mini and then a ferry to the old town part of Turkey.

First, I visited Spice Bazaar. I ended up spending a lot of time there, trying to buy souvenirs. Then I walked up to see Hagia Sophia. On the way, I stopped at many places. One of the places was for lunch. They had fresh squeezed orange juice. I also had Donar, which is a typical dish in Turkey. Then I went to see historical sites such as Hagia Sophia, Topkapi Palace, Sultan Ahmet Mosque, and ect. They were all beautiful and interesting.

Friday, June 18, 2010

Half Day to Client's Company

One of the people in the marketing department took me out of office to see another FIBA Factoring branch (near airport area). This area consists of many industrialized company, who would be potential clients in the future. Then we went to visit the current client's company. We mainly talked about the financial side of the clients company.

2nd week at work

This week, I'm in marketing department of the company. They gave me this package about their client's profile to read (both potential and active clients). I didn't really understand the first client's profile I read because it's all about finance, which is not my major. However, it was very interesting and I learn a lot from reading. After I finished reading, Mehmet (the manager of the marketing department) summarized and explained the package I read. Nonetheless, he also analyzed this client for me, whether it is a good idea to invest with this client. This is very helpful for me to fully understand what they do in marketing department.

During the week, I read many client's profiles. Then I have to summarize about the client's company to people in the marketing department. I also have to suggest if marketing department should make deal with that client.

The main job of marketing department is to go out of the office and meet with the current and potential clients. While they are in office, they also put in checks or invoices of their clients into their system.

Thursday, June 17, 2010


Emily (my roommate) and I decided to sleep in on Saturday. Then in the afternoon, we went to meet Hande (University coordinator). We went sightseeing in Istanbul, that particular area is called Otokoy. I noticed there were so many young coupled here. I had a grilled fish in one of the local restaurants. It was great!!! The view from that restaurant was great too, it was along the seaside. After touring around, we went to meet up with Jason (another university coordinator). We had dinner at a very nice local Turkish restaurant. However, there was one thing I don't like, which is called "Ayran", which is like a water-down yogurt with salt.

On Sunday, Emily and I went shopping in the city. We took about 3 different routes to get to the mall. First we took the mini bus to the pier, then the ferry to cross from Asian to European side of Istanbul, then we took the mini bus again to the mall. On of the mall is decided to be like a canyon, which I personally think it's very unique and beautiful.

Friday, June 11, 2010

1st week in Factoring company

I learned a great deal about factoring company. I now know the general process of how the factoring company serves their clients. Since I am in credit department, I learn what people in credit department actually do (in detailed). I was assigned to read some documents about factoring company both domestically and internationally for first couples of days. Then
I was assigned to sit and learn with one of the credit stuffs. He explained everything about what he does on a daily basis. Hw showed me the company system that keeps record of the client and the necessary form.

Thursday, June 10, 2010

working environment

Before entering the building, you have to pass security scan. You also need a card to pass the gate. Working environment is different. People at the officer just talked across their tables. The office was never quiet. Everybody tends to talk and walk to other's table. The company also provide snack time in the afternoon for workers.

1st time in turkey

I arrived at Istanbul 5 in the morning and I couldn't find a person,who was going to pick me up. Then half an hour later, I realized that my flight was one hour early. After all the confusion, Anjariita picked me up at the airport and we went to the dorm together. After taking a rest for 1 hour at the dorm, Jason took me to tour around the city. I find it very difficult because I can't remember any road names since the pronunciation is so different. He took me to brunch with his Turkish friends. One thing I learned was that Turkish drinks lots of tea and their tea had a very strong taste. The city itself is really nice and unique.

Then first day of work...I was placed in factoring company called Fiba Factoring. I also have a manager there as my mentor. Her name is Asli. She is a very nice lady and well rounded. She helped me with everything.

There are many departments in this company such as credit, operation, international, and ect. I am now in credit department for 2 weeks and then they will have me try other department in the company.

People in the office are very nice and helpful. Some can speak english and some don't. They also taught me Turkish. So I know some basic stuff. It is a great experience to be here

Saturday, April 10, 2010