Suggestions on Business Development Plan

Report Presented to:

Mr. Taha

Business Development officer

Date: 3rd May, 2010

Dear sir,

You have assigned me to present you some suggestions on the areas on which our
Bank can grow its Business operations. Sir I have done a basic research and here
are some suggestions for your Business Plan.

1. Public Awareness:
The first problem is that despite the growth of Islamic banks over the last 30 years, many
people in the Muslim and non-Muslim world do not understand what Islamic banking
actually is. Sir there is lack of awareness about all the Islamic banking system in the
public. Even the Muslims don’t have any idea about the basic concept of Islamic
finance & instruments using by Islamic banks.

For creating awareness in people we can work out on some areas.

 Counseling
 Seminars
 Media campaigns

If we will take proactive approach on educating people on Islamic financing it will

create a positive image of our bank in people mind. They will feel easy to come to us.
And it can grow our business.
2. Hiring of Professional Bankers:

Sir there is a need to institute professionalism in our bank to enhance management

capacity by competent bankers committed to their profession. Because, the
professionals working in Islamic banking system have to face bigger challenge, as
they must have a better understanding of industry, technology and the management of
the business venture they entrust to their clients. They also have to understand the
moral and religious implications of their investments with the business ventures.
There is also a need for banking professionals to be properly trained in Islamic
banking and finance.

3. Use of Advanced Technology and Media:

The importance of using proper advanced technology in upgrading the acceptability

of a product and diversifying its application cannot be over emphasized. Given the
potentiality of advanced technology, we must have to come to terms with rapid
changes in technology, and redesign the management and decision-making structures
and, above, all introduce modern technology in our operations.

4. Need of Expertise and trained manpower:

Sir our bank do not have the necessary expertise and trained manpower to appraise,
monitor, evaluate and audit the projects they are required to finance. As a result, we
cannot expand despite having excess liquidity. The future of our bank hinges, by and
large, on their ability to find a viable alternative to interest for financing all types of
loans. We should recognize that their success in abolishing interest has been at least
partial and they have yet to go a long way in their search for a satisfactory alternative
to interest.

5. Need for Research & development department:

There should be a Research & development department in our Bank. It must research
about the growing needs of customers. (R & D) that is not only necessary for the
realization of their full potential, but also for its very survival in this age of fierce
competition, sophisticated markets and an informed public. Our bank cannot but
stagnate and wither without dynamic and ongoing programs.