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Transcript of Mbl Internship Report
1 | P a g e
Internship Report
Internee Name Ayman Khalid
Duration Six Weeks
Satellite Town Branch Sargodha
2 | P a g e
Acknowledgement
My First and foremost gratitude to “ALLAH” the Almighty for giving me the valor to remain
dedicated to make this internship report. Apart from it I take the opportunity to acknowledge the
real efforts of:
First I would like to thank my University: UNIVERSITY OF SARGODHA for the valuable
support and encouragement which it has given to me in the form of this internship program.
Secondly I am very grateful to Mr. Qamar Shehzad, Branch Manager Meezan Bank Satellite
Town Sargodha for giving me the opportunity to be a part of this organization and to Mr. Qasim,
Manager Operations for being so helpful and cooperative throughout my internship program.
Likewise I would like to thanks entire team of Meezan Bank Satellite town Sargodha for their
support and provision of valuable information which helped me a lot during my internship and in
completion of this report.
A BIG THANK YOU to my beloved parents who encouraged me to complete this internship in a
benefitting manner…….
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TABLE OF CONTENTS
1 Executive Summary
Pg 2-3
2 Introduction to Meezan Bank Limited
Pg 4-7
2.1 Shariah board
Pg 5
2.2 Board of directors
Pg 5
2.3 Branch network
Pg 6
2.4 Achievements
Pg 6
2.4 Vision
Pg 6
2.5 Mission
Pg 6
2.6 Objective
Pg 7
3 Introduction To all departments
Pg 7-9
4 Organization Hierarchy Chart
Pg 9-10
5 My Learnings
Pg 11—26
5.1 Introduction to Satellite town Branch
Pg 11
5.2 Internship Duration
Pg 11
5.3 Training Program
Pg 12-26
6 Ratio Analysis
Pg 26-29
7 Suggestions
Pg 30-31
8 Bibliography
Pg 32
4 | P a g e
Executive summary:
Internship is an integral part of our MBA program, it provided me the opportunity to develop
practical no how of concepts which are studied only in theoretical form. My internship in
Meezan Bank Limited was full of learning regarding various aspects of banking .the report
contain practical knowledge which I gained during my stay at Meezan Bank Limited.
Meezan Bank Limited is the pioneer Islamic Bank in Pakistan and it has bright future forward.
Meezan Bank limited is the publically listed company first incorporated on January 27. 1997.
The bank has an internationally renowned very high caliber and pro-active Shariah Supervisory
Board.
I did my six week internship in Meezan Bank, Satellite town branch Sargodha. During my
internship I was rotated in different Departments.
The work I did during my internship in Meezan Bank primarily includes checking account
opening, pre-requisites, filling account opening forms, maintain inward mail registers, assisting
the cheque book issuance Department, know-how about the lockers available, analyzing inward
and outward clearing and the rules relating to them .
One of the strongest reasons for selecting Meezan Bank is after the Quranic Word “AL-
MEEZAN” which means “BALANCE”. Second most important thing that influenced me for
the selection of that bank was that it has the privilege of being premiere Islamic Bank in Pakistan
which is why it is the market leader among all the Islamic Banks.
Banking sector owes a pivotal importance in the economy of any country through its variant
functions. This basic motivator stressed me to join for Meezan Bank internship training.
Moreover, the experience and practice learned during this tenure also proved very helpful and
facilitating in the forth coming professional life.
During my internship program I have discovered many of the courses, I studied at University Of
Sargodha were relevant to the work, I have done during my internship in Meezan Bank. Chief
ones are financial management, banking practice and law, and banking operations.
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The main problem Identified during my internship period was excessive documentations as per
the policies making it extremely very difficult for the customer to avail their desire services and
more crucial one was the lack of motivation at work place.
Some of the suggestions in the report were Meezan Bank Limited will pursue aggressive
marketing in advertising strategy and making policies to increase employee motivation level.
All information in this report is based on my observation, interviews with the customer, and the
branch officers and practical involvement in different task during my internship at Meezan Bank.
6 | P a g e
INTRODUCTION TO MEEZAN BANK LTD
Meezan Bank Limited (MBL) (the holding company) was incorporated in Pakistan on January
27, 1997 as a public listed company under the companies‟ ordinance, 1984 and its share quoted
in Karachi stock exchange. MBL was registered as an „Investment financing company on August
8, 1997 and carried on the business of investment banking as permitted under SRO 585(I)/87
dated July 13, 1987 in accordance and in conformity with the principle of Islamic shariah . A
certificate of commencement of business was issued to MBL on September 29, 1997.
MBL was granted a „Scheduled Islamic commercial bank‟ license on January 31, 2002 and
formally commenced operations as a scheduled Islamic Commercial Bank With effect from
March 20, 2002 on receiving notification in this regard from State Bank of Pakistan (SBP) under
section 37 of the Statement Bank of Pakistan Act, 1956.
Meezan Bank Limited has 323 branches in 84 cities across Pakistan and it became the 8th
largest Bank in Pakistan in terms of branch network.
Meezan Bank Limited being an Islamic Bank offering its products to its customers strictly in
accordance with the SHARIAH COMPLIANCE. It is doing business in Corporate Banking,
Commercial Banking, Consumer Banking, retail Banking, Investment Banking keeping in view
the all norms and standards of Islamic injunction.
Meezan Bank stands today at a noteworthy point along the evolution of Islamic Banking in
Pakistan. The banking sector is showing a significant paradigm shift away from traditional
means of business and is catering to an increasingly astute and demanding financial consumer
who is also becoming keenly aware of Islamic Banking. Meezan Bank bears the critical
responsibility of leading the way forward in establishing a stable and dynamic Islamic Banking
system replete with dynamic and cutting-edge products and services.
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The Bank has made fundamental and significant progress forward, and in doing so has
established a strong and credible management team comprised of experienced professionals,
which have achieved a strong balance sheet with excellent operating profitability, including a
capital adequacy ratio that places the Bank at the top of the industry, a long-term entity rating of
A+, and a short-term entity rating of A1+, the highest short-term rating.
SHARIAH BOARD:
The members of the Shariah Board of Meezan Bank are Internationally-renown scholars, serving
on the boards of many Islamic banks operating in different countries.
The members of the Shariah Board are:
Justice (Retd.) Muhammad Taqi Usmani
Dr. Abdul Sattar Abu Ghuddah
Sheikh Essam M. Ishaq
Dr. Muhammad Imran Ashraf Usmani - Shariah Advisor
BOARD OF DIRECTORS:
H. E. Sheikh Ebrahim Bin Khalifa Al-Khalifa (Chairman)
(Undersecretary, Ministry of Finance & National Economy,Kingdom of Bahrain)
Naser Abdul Mohsen Al-Marri (Vice Chairman)
Irfan Siddiqui (President & Chief Executive Officer)
Istaqbal Mehdi
Mohammed Abdul-Rehman Hussain
Nawid Ahsan
Ariful Islam (Chief Operating Officer)
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Rana Ahmed Humayun
Mohammed Azzaroog Rajab
Ahmed Abdul Rahim Mohamed
BRANCH NETWORK:
Meezan Bank Limited has 323 branches in 90 cities across Pakistan and it became the 8th largest
Bank in Pakistan in terms of branch network.
ACHIEVEMENTS:
Meezan Bank has reaffirmed its entity ratings at A+ for medium to long-term and A1+ for short-
term. This rating was made by JCR-VIS Credit Rating Company, which has also set Meezan
Bank‟s outlook on medium to long-term rating as “Stable”. The rating is yet another milestone
achievement in the Bank‟s endeavor to be the Bank.
Meezan Bank‟s ratings are based on its shareholding with world-renowned financial institutions,
pioneering role in the industry, strong management initiatives in continuously introducing
various range of Islamic products. The Credit Rating agency JCR-VIS has expressed
commendation to Meezan Bank management‟s ability to deploy funds in core banking assets,
which reflected healthy growth trends last year.
VISION STATEMENT
“Islamic banking as banking of first choice to facilitate the implementation of an equitable
economic system, providing a strong foundation for establishing a fair and just society for
mankind”
MISSION STATEMENT
“To be a premier Islamic bank, offering a one-stop shop for innovative value added products and
services to our customers within the bounds of Shariah, while optimizing the stakeholders value
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through an organizational culture based on learning, fairness, respect for individual enterprise
and performance”
SERVICE QUALITY MISSION
“To develop a committed service culture which ensures the consistent delivery of our products
and services within the highest quality service parameters, promoting Islamic values and
ensuring recognition and a quality banking experience to our customers”
OBJECTIVE:
“To develop a committed service culture which ensures the consistent delivery of our
products and services within the highest quality service parameters, promoting Islamic
values and ensuring recognition and a quality banking experience to our customers”
INTRODUCTION TO ALL DEPARTMENTS:
Meezan Bank Limited has been divided into following divisions:
· Assets Management
· Retail Banking Division
· Liability Division
· Common Assets Division
· Credit Administration Division
· Human Resources Division
· Finance Division
· Treasury and International Division
· Information Technology Division
· Corporate Banking Division
· Operation Division
· Credit Risk Management Division
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· Control and Compliance Division
· Establishment Division
· Training, Research, Communication & Public Division
· Consumer Banking Division
· Credit Policy Division
· Audit & Inspection Division
· General Service Division
· Law Division
Asset Management
The Bank invest funds on behalf of its customers (shariah compliant investment product) and
gives them access to a wide range of traditional and alternative product offerings. For example
open end funds, pension funds and closed end funds.
Retail Banking Division
In this division bank deals with customers and execute their transaction directly. Bank provide
the service of savings, checking of accounts, mortgages, personal loans, debit cards and ATM
cards.
Credit Administration Division
In this division, banks deals with the credit, banks gives loans to individuals answer to the
corporations.
Audit & inspection Division
This department of the bank conduct audit of all the branches and submit its reports to the top
level management to take corrective measures.
Human Resource Division
This division performs the duty of hiring the employees, training the employees as well as
retaining the employees and if necessary, firing the employees.
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Finance Division
This division controls the overall activities relating to finance i.e. monitoring the investment
activities, financing activities, Debit and Credit of funds and reasons thereof with proofs.
Training, Research, Communication & Public Division
This division makes research about the new product, imparts training to newly hired employees
as well as old employees for innovation as per the rules and regulation of State Bank of Pakistan.
Operation Division
This division controls the whole operation of all the branches and controls the cash activities,
cheques, account opening and other things about operations.
Law Division
This division engages the lawyers and gives them the power of attorney to protect the bank to in
courts of law where cases have been filled by the bank against defaulters of loan as well as
against the bank by the general public.
Information Technology Division
This division provides the relevant systems for working in the bank and protects the data in
computers at central place and controls the overall online system on daily basis.
ORGANIZATIONAL HIERARCHY CHART:
The organizational structure of the Bank consists of top level management, middle level
management and lower level management. The top level management comprises of president,
executive vice president, and divisional heads. The middle level management comprises of
departmental heads, SVPs and VPs. The lower level management comprises of AVPs, Managers,
and Operation Managers. The reporting system at horizontal level is much effective and
successful. The reporting system at vertical level i.e. from lower level management to middle
level management is also accurate, timely and complete. The middle level management gives
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information to high level management at which decision are made, rules and regulations are
amended keeping in view the present scenario
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MEEZAN BANK SATELLITE TOWN BRANCH, SARGODHA (1402)
Meezan Bank Limited opened its branch at Satellite Town, Sargodha in Nov, 2011. The code of
branch is 1402. The branch in charge consists of a Branch Manager and Manager Operations.
Manager Operations control the whole staff.
Branch Manager
Qamar Shehzad
Manager Operations
Muhammad Qasim
Personal Banking Officer (PBO)
Muhammad Iqbal
Chief Cashier
Atif Atta
Teller
Usman Maqbool
Clearing
Zeeshan Ali
Remittance
Adnan Shehzad
BDO
Muhammad Kamran
Syed Rizwan
INTERNSHIP DURATION
I started my internship on October 9, 2013 which ended on November 13, 2013. The duration
of the internship was 6 weeks. The staff of the branch was much cooperative. They imparted me
training in all departments of the branch i.e. Customer Service, Clearing & Remittance and
Account Opening.
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TRAINING PROGRAM
I started my internship with the introduction of bank employees and with introduction of
bank departments.
I came to know about the purpose of the bank and the functions of the bank and I judge
the practical performance of the departments. Then I was told about Riba and its types:
Riba al Nasiah
Riba al Fadhl
Important elements of basic mode of financing in which Mudaraba and Musharaka lies.
I learnt about characteristics and procedure of Mudaraba and Musharaka. I learnt about
IBTDR (Islamic Bank Term Deposit Receipts) and knew what its meaning and
functions. Basically IBTDR involves Accounts:
Saving Deposit accounts
Term Deposit accounts
I l e a r n t abo u t t h e p r o f i t r a t es o f t he acco un t s an d p ro cedu r es t o
o p en t h es e accounts. I also learnt about CDR (Call Deposit Receipts) and its
procedure and knew its purpose.
I learnt about the PAY ORDER and DEMAND DRAFT and the difference of Pay Order
and DD.
SERVICE QUALITY DEPARTMENT:
In this department I learnt a lot about floor time management and quality assurance affairs in
branch.
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Floor time management:
While standing near the main gate it is ensured that customers coming into MBL are properly
looked after. The bank also creates a sense of ownership of service quality and also develops a
service mindset and ultimately a quality service culture at MBL. Furthermore, bank manages the
sale and service area of the branch to provide maximum opportunities to its clients as well as
provide a sense of comfort and personal attention.
Responsibilities of floor time management:
The bank maintains and file daily working sheet of Floor Time Management and record
customer‟s complaints in the CRM. The bank monitors daily log of TAT sheet and put up it to
Branch Manager. Complaint handling and its follow up is made on daily basis. Modifications
and improvements are suggested in the system and process. Try to make coordination between
branch and Head Office regarding service quality. Lead Floor Manager is assigned duty first of
all.
RESPONSIBILTIES OF LEAD FLOOR MANAGER/FLOOR MANAGER:
Lead Floor Manager welcomes all the customers and introduces himself with a smiling face and
checks branch cleanliness and pleasant atmosphere in the branch. He also checks availability
customers stationary at proper places as well as maintain the notice and assist in SQ. Individual
customers are provided comprehensive services. He moves around the banking hall and cash
counters area to ensure that every customer is looked after properly.
ACCOUNT OPENING DEPARTMENT:
Basics of account opening:
Account opening is the basic and first relationship, which is established between
Bank and the customer. In account opening extreme care has to be exercised in case
of completion of account opening documentation. Whenever a client comes in the bank in order
16 | P a g e
to open an account the first information that is given to him/her about the types of accounts,
which can be opened, so far this purpose the client is given detailed information about the
accounts and their respective profit rates.
Type of accounts opened:
CURRENT
SAVING
TERM DEPOSIT
Sub-categories of Accounts and the Basic Requirements:
MINOR ACCOUNT
Bay form and copy of passport minor
National Identity card of Guardian
Signature requirement of guardian
INDIVIDUAL ACCOUNT
Copy of national identity card
Complete account opening form
Letter of introduction if required
Visiting Card (if the person is employed)
JOINT ACCOUNTS
As evident from the name these accounts can be jointly opened by any number of persons. The
minimum number of persons required to open a joint account is two but there is no maximum
limit.
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Requirements:
National Identity card of all Applicants.
Signature of all Applicants.
Zakat Affidavit of all Applicants (zakat Examption).
Operation of account clearly mentioned.
The options available to operate the account are:
Jointly
Either or Survivor
Other(s)(Please specify)
CLUB /SOCIETY/ASSOCIATION
Requirements:
Certified copy of resolution
Certified copy of rules
Copies of National Identity cards of all directors/passports
Completed account opening form
Specimen Signature Card
TRUSTS ACCOUNTS
Completed account opening form
Specimen Signature Card
Certified copy of trust deed
Copy of rules/by laws
Copies of National Identity cards of all trustees
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CORPORATE ACCOUNTS OF SOLE PROPRIETOR
Requirements
Declaration Letter
Copy of NIC/Passport of the proprietor
National Tax Certificate
Declaration of Sole Proprietor on company letterhead
Business registration Certificate
Specimen Signature Cards and completed account opening form.
ACCOUNT OF PARTNARSHIP
Requirements
Partnership Deed, certified copy.
Photocopies of NIC of all partners.
Partnership Mandate (Prescribed Format).
ACCOUNT OF LIMITED COMPANIES
Requirements
List of Directors of company.
NIC of all Directors.
Copy of certificate of Incorporation.
Memorandum of Association.
Article of Association.
Copy of Board Resolution.
Latest Copy of Form-29
Stamp of Company, which is to be affixed on the account opening form.
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Certificate of Commencement of Business
ACCOUNTS OF LITERATE [Photo Account]
These accounts can be opened individually or jointly. For men, the right hand thumb impression
and for women, the left hand thumb impression is taken on account opening form. The customer
is given advice to come to bank by himself in order to withdraw any cash or deposit the cheque.
Requirements:
Photocopy of NIC of Account Holder.
Two-three passport size photographs.
PROCEDURES FOR ACCOUNT OPENING
First of all, after inquiring from the customer what type of account he/she wants to open, the
account opening form is got filled from the customer and signed it. Along with the account
opening form, the customer is also signed two Specimen Signatures Cards. After fulfilling all the
formalities of account opening, the computer generated account number is given to the customer
that is of special series depending on the type of account.
REQUISITION SLIP
A requisition slip is given to the customer to sign it so that the customer can get cheque book.
Cheque book is issued after one day of receiving the requisition slip.
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LETTER OF THANKS
After opening the account “A Letter Of Thanks” is send to the customer in order to thank the
customer for opening an account in the Bank. This letter tells all the information regarding
his/her accounts, which are kept very confidential.
ACCOUNT OPENING REGISTER
After an account is opened, an entry is made in the account opening register, which
has the following columns:
Date
Account Number
Name & Address
Telephone Number
Initial Deposit Customer Services/Relation Officer enters the new account opened in
computer and the Specimen signature Cards are also scanned so that whenever a cheque
of the respective account comes for encashment, the signatures can be verified.
OVERALL FUNCTIONS PERFORMED BY ACCOUNT OPENING DEPARTMENT:
ACCOUNT OPENING
ACCOUNT CLOSING
FOR ACCOUNT CLOSING:
The closing of current account is within 1 day.
The closing of saving account is on MUDARABAH based. Unless profits reach the bank
is unable to close the account. When the profit arrives it is given to the customer unless
the balance is nill and then afterwards account is closed.
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SOME MORE INFORMATION ABOUT DORMANT ACCOUNTS:
Some of the information‟s which is provided to me about dormancy of accounts by SIR
MUZAMIL (Relationship officer) is as follow:
If no transaction has been done by the customer in a CURRENT account for 6 months
then the account become DORMANT.
If no transaction has been done by the customer in a SAVING account for 1 year then
the account become DORMANT.
The bank sent letter to the respective customer 45 days before until it becomes dormant
that he didn’t do any transaction in his account.
Reactivation of dormant account requires:
Id card
Application with reason of why not using account, then after activation the customer will
do transaction.
In case of company/sole proprietorship/partnership application along with letterhead and
stamp of the company.
If a customer comes with an expired CNIC dormant account will not activate, but account
will be opened.
The bank will take an undertaking with that customer that if within 45 days the CNIC is
not available then they will block his/her account and then he will not be able to
withdraw any amount from his/her account.
The customer will apply to NADRA for CNIC attested by commissioner.
LOCKER OPERATIONS:
Locker facility is also available at all the branches of MBL for keeping the valuables there in and
this facility is only for account holders. As for as privacy is concerned, lockers are located in a
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specially designed area protected with strong room doors and grills under the control of two
officers, operated by use of Master Key and Customers Key supplied to the customer at the time
of locker is rented out.
TYPES OF LOCKER
Lockers are of three types:
Small,
Medium
Large lockers
Security fee of locker is Rs. 3000 which is refundable and charges for Small Rs. 1000, for
Medium Rs. 1500 and for Large Rs. 2000 per annum.
A separate application form is complete and signed by the customer along with SS Card and a
copy of CINC with two photographs. After completing all the formalities a locker is allocated to
the applicant and Key is given to him with locker identification card.
PROCEDURE OF ISSUANCE OF BANK STATEMENT:
For issuance of bank statement a requisition slip is taken from the customer duly signed and the
period from which the customer wants to take the statement. After verification of signature Bank
Statement is issue to the customer and Rs. 55 are deducted from account of customer.
PROCEDURE FOR STOP PAYMENT:
For stopping the payment, the bank take sign of the customer on stop payment form where in
account number with date and amount of cheque is written. Customers also mention the reason
of stop payment then the bank mark that cheque as stop payment. Charges of stop payment are
Rs. 250. Now the bank will not make payments of these cheques.
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MY SOME LEARNING ABOUT ATM/DEBIT CARD:
Some of the information about ATM card which are provided to me by sir Iqbal (PBO) is
as follow:
Firstly the customer has to fill the ATM/DEBIT card application form.
Meezan Visa Debit card options:
Silver (annual fee PKR 350)
Gold (annual fee PKR 600)
Limit for amount withdrawal at one time for Silver card is 20,000
Limit for amount withdrawal at one time for Gold card is 40,000
The application form consists of:
Request for new ATM/debit card.
Request for replacement of ATM/Debit card.
Account information
Address for Mailing ATM/Debit card
Joint account holders
AUTHORIZATION by account holder‟s signature
By joint account holder‟s signature
For issuance of PIN and activation of ATM customer has to call the help line (111-331-
331). After verification of customer, a PIN number is issue to him and his card is
activated.
After issuance/arrival of ATM card entry is made on ATM ISSUANCE REGISTER on
the spot.
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CALL INTIMATION REGISTER is kept to maintain the record of calls to customers.
The bank intimate customer about the arrival of ATM card after waiting for 10 days. On
10th
day the bank intimate customer through call.
After 10th
day, 20th
day, and 25th
day if customer do not arrives to collect his
ATM card then the bank discard his ATM card and sent to head office.
On 5p.m if customer arrives then it is good. Otherwise bank sent ATM LETTER.
SOME INFORMATION ABOUT CAPTURED ATM CARD:
There are four possibilities:
If our ATM card is captured on our machine then the bank will wait for a customer for 7
days. And if the customer do not come within these 7 days then the bank will discard
the card.
If the captured card is of the other branch of Meezan bank then the bank will keep the
card for 2 working days. and after 2 days the card is sent to the respected branch.
If other bank card is captured on our machine then we will keep it for 2 days. after 2 days
we will sent that card to our head office. Our head office will sent that card to that bank
head office and then that head office will sent that card to its respective branch and vice
versa.
STATUS OF ATM CARDS:
There are 3 status of ATM/debit card:
1. Warm
2. Cold
3. Hot
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WARM
The newly issued ATM card is called WARM. If the ATM card is temporarily blocked then it is
also called WARM. then the bank will call the head office to activate that card.
COLD
If the ATM card is 100% accurately working then it is called cold.
HOT
If the captured ATM card is of our own branch and if it is hot then the bank will destroy that card
on the same day.If it is of other branch and it is hot then on the same day card is sent to that
branch.The customer can confirm his balance through call also and for this purpose he/she is
required to fill CUSTMER‟S INSTRUCTIONS FOR TELEPHONE BANKING FORM.
1-LINK card provides good link to connect through ATM.
Mostly claims are on M-NET card because of certain line problems.
OPERATIONS DEPARTMENT:
FUNCTIONS PERFOMED:
1. CLEARING
2. REMITTANCE
3. TRANSFER
CLEARING
In clearing process, if the account holder of MBL receives the cheque of other bank like City
Bank, Habib Bank Limited etc, and he submits it in MBL branch to be cashed. At the same time
the clearing process starts. First the bank name, Cheque number and the amount are written in
the register. After this three kind of stamps are required first bank name stamp, secondly clearing
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stamp of next date and If the cheque is not local then the inter-city clearing stamp is required.
Some cheques are local and some are outstation. The institution N.I.F.T. provides the services in
clearing the cheque. They send the different cheques to different banks. The N.I.F.T service is
available only in few cities, like Karachi, Lahore, Rawalpindi. The cheque of inter city is send
through N.I.F.T. And where, the N.I.F.T service is not available so the cheque is sent through
T.C.S. The clearance of cheque is informed through advice. Some cheques are not passed so they
are returned and Rs. 100 is deducted and if the cheque is of inter-city then the postage charges
are deducted. For this purpose the Debit & Credit voucher is used. When the cheque is cleared
current day stamp is required. Some chequse are drawn on MBL. This is called outward clearing.
These cheques will be entered in the outward clearing register. And the advice is sent for the
clearance of cheques. The account holder account is credited.
TYPES OF CLEARING:
Inward clearing
Outward clearing
I received all the clearing cheques and made a schedule of these cheques after making entries in
outward and inward clearing registers and sent the same to main branch where at all the cheques
were sent to NIFT (National Institutional Facilitation Technology)
Inward clearing:
When cheques of other Banks are deposited in our bank, after clearing these cheques through
NIFT by the other Banks on which these are drawn. Accounts of the customers are credited.
Inward clearing takes 1 day.
Outward clearing:
When cheques of our bank are deposited in other Banks and these cheques are sent to us for
verification, we debit the of our client after verification their account.
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Outward clearing takes 2 or 3 days. They are called outward clearing because they are presented
on the very next day after depositing a cheque.
REMITTANCE:
Remittance department transfer the funds from one bank to another bank and one place to
another place. In this department collection takes place. MBL makes payment of only open
cheques at the counter and prohibits the payment of crossed cheques. MBL transfer money from
one place to another place by way of payment order, demand draft, inward collection, outward
collection.
NIFT:
NIFT stand for National Institutional Facilitation Technologies. Clearing House of SBP has
shifted a part of its work to private institution named NIFT. NIFT collets Cheques, Demand
Draft, Pay Order, Travelers Cheques, etc. from all branches of different Banks within city
through its carriers and send them to the branches on which these are drawn for clearing. NIFT
prepares a sheet for each branch and send it to each branch as well as to State Bank of Pakistan
where accounts of Banks are settled.
TRANSFER OF CHEQUES:
If a customer holds two accounts in the bank and he/she wants to transfer money from one
account to the other account, customer writes a cheque and fills deposit slip in which he/she
writes account no to which amount is to be transferred. After making transfer entry in the
computer affix transfer stamp in the middle of cheque, crossing on the upper left and bank‟s
endorsement stamp on the backside of the cheque.
DESTRUCTION OF CHEQUE BOOKS:
If a cheque book is not collected by customer for more than 1 month and if a customer do not
respond to the telephone calls of the bank, then his cheque book is destroyed by the bank.
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There is no demand draft (dd) in MEEZAN bank. There is only PAY ORDER which is
acceptable throughout the country. Meezan bank‟s cheque is also accepted throughout the
country.
CALL DEPOSIT RECEIPT(CDR)
Call Deposit Receipt is a form of non-profitable guarantee certificate issued to Government &
Semi-Government Institutions, Corporations and Semi-Autonomous Bodies as a security deposit
in favor of any tender. The beneficiary can at any time deposit the CDR in their account.
MEEZAN Bank facilitates all customers to avail this service without having an account with the
bank.
RATIO ANALYSIS:
A tool used by individuals to conduct a quantitative analysis of information in a company's
financial statements. Ratios are calculated from current year numbers and are then compared to
previous years, other companies, the industry, or even the economy to judge the performance of
the company. Ratio analysis is predominately used by proponents of fundamental analysis.
Ratio analysis is helpful to the management of the organization as well as for the investors and
creditors. Investor keeps an eye on the company‟s financial statement and make decisions
whether to invest funds in that company or not. Similarly a creditor also analysis the financial
statements and makes decisions whether to grant loan or not.
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SUGGESTIONS:
During my internship period I have identified number of weak points that may erode the success
factors of the organization in future. As per my expertise I am suggesting following measures to
overcome the very crucial bottlenecks to enhance the performance of every department and more
specifically “people”.
Aggressive Marketing Strategy is extremely very necessary in todays cut throat
competitive environment so firstly I would like to suggest that the bank must pursue very
aggressive marketing and advertising strategy so that it can create awareness in general
public about its Islamic products and services.
Healthy customer (internal & external) relationship must be developed in order to sustain
its market leadership
Employees should be assigned jobs for specific period and then they should
be shifted to other department so that they can gain knowledge of other jobs.
The process for providing banking facilities to end users must be properly managed in
order to decrease customer dissatisfaction and waiting involved in getting their desired
services.
Nizafat is half emaan but in the branch to maintain nizafat proper measures have not been
taken for example separate washroom for ladies staff and visitors should be maintained.
Branch should have appealing and eye-catching look.
The small cabin of remittance department should be made wide with duly furnished..
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Due to prevailing law and order situation locker facility is demand of the public as hot
cake but our this branch has limited facility which may be enhanced by providing further
locker cabinets which will be very good source of income.
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BIBLOGRAPHY:
Pamphlets or brochures
www.meezanbank.com.pk
www.almeezan.com.pk
Annual Reports Retrieved 8 Feb, 2013, from Meezan Bank web site
http://www.meezanbank.com/FH_FinancialReports.aspx
Consult from Annual report 2012, interim report 2013 & Pages Magazine 2012.
www.google.com