INTERNSHIP REPORT

ON

BANK AL-FALAH LIMITED

BY

AAMNA MUKHTAR
F06B020
INSTITUTE OF BUSINESS & INFORMATION TECHNOLOGY

UNIVERSITY OF THE PUNJAB SEPTEMBER 28, 2009

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CHAPTER 1 BANK AL-FALAH LIMITED

1.1 EMERGENCE OF BANKING
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The word “Bank” is derived from “Bancus” or “Banque”. History of banking is traced to 2000 B.C in Greece. Priest and Goldsmiths acted as financial agents by keeping money and valuables of people in temples in strong safes. Thus, the first stage in the development of modern banking was accepting of deposits of cash from those who had surplus money with them. The Goldsmiths issued receipts for the money deposited with them, which began to pass from hand to hand in settlement of transaction as people had confidence in the integrity and solvency of Goldsmiths. The receipts were drawn on a way that it entitled the holder to claim that specified amount of money from goldsmiths. These receipts were the earlier bank notes. Thus the second stage in the development of banking was the issues of bank notes. The Goldsmiths discovered all the people who had deposited money did not come to withdraw their finds in cash, only a few people presented the receipts for encashment during a given period of time and they also found that most of the money deposited with them was lying idle. They also found they were being constantly requested for loan on good security. They thus thought it profitable to lend at least some of the money with them to needy persons. This proved profitable for them. Instead of charging interest from deposits, they began to give them interest on money deposited with them. This was the third stage in the development of banking. Through experience, banks came to know that they could keep a small proportion of total deposits for meeting demands of customers for cash and could easily lend the rest. They allowed deposits to draw over and above than the money standing to their credit. They thus allowed the overdraft facility to their deposits and this was the fourth stage in the development of banking. Every bank issued receipts and most allowed 2 overdraft facilities and this caused too much confusion the systems. In order to earn profits, banks did not keep adequate reserves to meet demands of customers for cash. This failure on the part of bankers to return money caused widespread distress among people.
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In order to create confidence among the people, steps were taken to regulate the banking. A conference was held in Nuremberg in 1548 where it was decided that a bank should be set up by the state, which would streamline the banking organization and technique. The first central bank was thus formed in Geneva in 1694. The responsibility of issuing notes is now entrusted to a central bank in each country. With passage of time, activities of commercial bank increased. They dealt with large number of issues such as obtaining funds, advancing loans to business, farmers, households, making investment in stocks, discounting bills of exchange etc. commercial banks are now multi-service organizations and play a very important role in financial markets.

1.2 OVERVIEW OF FINANCIAL SECTOR IN PAKISTAN
The history of banking system in Pakistan dates back to independence of Pakistan in August 1947 when various banks transferred their Head Quarters and funds to areas likely to fall in India. This trend emerged due to dominant role of Hindus in pre-partitioned Indian banking system. According to various books there were 3496 branches of Indian scheduled banks in the undivided sub-continent as on 1st March 1947 out of which only 487 branches were located in areas presently constituting Pakistan. However the number of scheduled banks drastically declined to 195 from 487 immediately after partition. At the time of partition there were only two banks having the honor to be first commercial bank of Pakistan namely Habib Bank Ltd., which was set up in 1941 with its Head Office in India and the Australasia Bank Ltd., which was established in 1944 with its Head Office in Pakistan.

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1997 as a public limited company under the Companies Ordinance 1984. Upon closing down of BCCI. Bank Al-Falah Limited started its life as “Pakistan Operation” of BCCI. the Bank of England and International Liquidators accused BCCI of being involved in money laundering to the tune of 1. in 1997 and its 70% The Caring Bank Page 5 Report By F06B020 . A multi-national conglomerate based in Luxembourg and Grand Cayman. The estimated assets of BCCI were 20 billion dollars. Bank of Bahawalpur in October 1948 and National Bank of Pakistan in 1949. In July 1991. 1997. Subsequently it was decided to have separate Central Banks and the State Bank of Pakistan was set up and started functioning from 1st July 1948. Its banking operations commenced from November 1st. BCCI was the 7th largest bank in the world. Consequently three banks were established which include Muslim Commercial Bank Ltd. HCEB was later acquired (through the process of privatization) by the Abu Dubai Group. 1. Thus the history of banking system in Pakistan started with the establishment of the State Bank of Pakistan which was inaugurated by Quaid-e-Azam Mohammad Ali Jinah on 1st July.By following the partition. The operations of the Bank were in 70 different countries of the World.54 billion dollars. Habib Bank also transferred its Head Office from Bombay to Karachi due to partition in August 1947 and it was assisted by the State Bank to finance domestic trade of the country. and were run as a wholly owned subsidiary by the name of Habib Credit & Exchange Bank (HCEB). in 1992 the operations of BCCI in Pakistan were acquired by Habib Bank Ltd.3 BANK AL-FALAH LIMITED Bank Al-Falah Limited was incorporated on June 21st. an expert committee was set up and this committee recommended that the Reserve Bank of India being the Central Bank of the undivided India should continue to function as Central Bank of Pakistan and the Indian currency notes would continue to be legal tender in Pakistan till 30th September 1948. formed in September 1948. 1948.

to cater for increased business demands. Karachi. The agreement was signed on July 7. I. with the registered office at B.Building. have helped Bank Al-Falah Limited launch high quality consumer and corporate banking operations in Pakistan. There are 282 Branches of Bank Al-Falah Limited in 75 different cities of Pakistan. Government of Abu Dhabi. With the implementation of the office automation and communication system BAL will be poised to compete with the best in quality and speed of customer services.A. principal owners of BAL. The bank is not only making its contribution in accelerating Pakistan’s economy. Minister of Education. 1997. envisaging the development of consumer sector in Pakistan. The bank is engaged in commercial banking and related services as defined in the Banking companies ordinance.4 BANK AL-FALAH TODAY The strength and stand of Abu Dhabi Group. BAL is headed towards an optimum sized network reaching major urban centers in Pakistan. 1962. and under the leadership of Highness Sheikh Nahayan Mabarak Al-Nahayan.Chundrigar. and a prominent member of Royal Family – the bank is energized with the vision.I. The Caring Bank Page 6 Report By F06B020 .ownership was transferred to Abu Dubai Group. 1. Charged with the strength of the Abu Dhabi based consortium. The Bank is well positioned and geographically poised. from its existing and potential clientele. Bank Al-Falah Limited have embarked upon a rapid expansion program to make sure that the services reach more and more people.

bank’s products like Royal Profit. bank’s team has recently been rejuvenated by going through training programs with a focus on Information Technology. The Caring Bank Page 7 Report By F06B020 . professional and advanced banking solutions. With a team of talented. To continuously offer courteous. the bank is committed to develop products that give more value to its customer – be it a simple bank account or complex financing of a major project.Bank Al-Falah has emerged as one of the leading commercial banks in the financial sector of Pakistan. Bank Al-Falah commits all its energies. Designing product portfolio in response to customer’s preferences. Royal Patriot and Royal Custodial are prime examples of quality and innovation – providing timely banking opportunities to its customers. resources and time to cater to all banking and financial needs of customers. servicededicated professional bankers. Bank has made significant contribution in building and strengthening both the corporate and retail banking in Pakistan. Prioritizing its product portfolio in line with consumer needs and wants.

1.5 VISION VISION “To be the premier organizations operating locally and internationally that provided the complete range of financial services to all segments under one roof” The Caring Bank Page 8 Report By F06B020 .

deliver quality service that contributes to brand strength.1.6 MISSION MISSION “To develop and deliver the most innovative products. thus providing value to the stakeholders of the bank The Caring Bank Page 9 Report By F06B020 . establishes a competitive advantage and enhances profitability. manage customers experience.

Nadeem Iqbal Sheikh Director Mr.7 CORPORATE INFORMATION 1. Ikram Ul-Majeed Sehgal Director Mr. Sheikh Hamdan Bin Mubarak Al Nahayan Chairman Mr.7.Khalid Mana Saeed Al Otaiba Director Mr.1. Abdulla Nasser Hawalileel Al-Mansoori Director Mr. Sirajuddin Aziz Director & CEO The Caring Bank Page 10 Report By F06B020 .E. Abdull Khalil Al Mutawa Director Mr.1 BOARD OF DIRECTORS H.

2 MANAGEMENT     Mr. Wahid Dada Mr. Mohammad Yousuf Mr.3 BOARD ADVISORY COMMITTEE     Mr. Shahid Mr.4 AUDITORS  A. Ijaz Farooq Mr. Bakhtiar Khawaja Mr. Zahid Ali H. Nadeem Ul Haq Mr. Shakil Sadiq Mr.F. Hamid Ashraf Mr. Omer Z. Falak Sher Mr. Adil Rashid Mr. Parvez A. A. Mudassar Aqil Mr. Talib Rizvi Mr. Haroon Khalid                  Chief Executive Officer Co-Chairman Central Management Committee Chief Operating Officer Group Head Corporate & Investment Banking Group Head Islamic Banking Group Head Consumer Finance Group Head Operations Group Head Credit & Collections Group HeadTraining & Development Group Head Commercial Banking General Manager Legal Affairs Chief Financial Officer Group Head Audit & Inspection Group HeadPriority Banking & Wealth Management General Manager International Business Executive InchargeEstablishment & Administration General ManagerCredit Monitoring Chief Compliance Officer General Manager Information Technology General ManagerHuman Resource & Quality Assurance General Manager Risk Management 1. Mohammad Iqbal Saifee Mr. Tariq Mir Mr. Ather Shehab Mr. Sirajuddin Aziz Mr.7. Imtiaz Ahmad Sheikh Mr. Tahir 1. M. Abdullah K.1. Arfa Waheed Malik Mr. Al Mutawa Mr. Mahmood Ashraf Mr. Ganpat Singhvi Mr. Ferguson & Company Chartered Accountants Page 11 Report By F06B020 The Caring Bank . basher A.7. Al Askari Mr.7. Jamall Mr.

III Clerical Staff Non-Clerical Staff Cashier Typist Clerks & Assistants Guards Messengers The Caring Bank Page 12 Report By F06B020 . II.5 ORGANIZATIONAL CHART President (CEO) Senior Executive Vice President Executive Vice President Senior Vice President Vice President Assistant Vice President Officers Grade I.1.7.

 Ongoing assessment of opportunities for customers. leading to the constant development of new products and services.8 GOALS & OBJECTIVES Objectives can be defined as specific results that an organization seeks to achieve in pursuing its basic mission. aid in evaluation. agricultural and socio economic processes through the active participation of private and public sector in the country. create synergy. reveal priorities.1. The Caring Bank Page 13 Report By F06B020 .6 BANK AL-FALAH’S SLOGAN The Caring Bank 1. organizing. Achievement is nothing without target  Time is our most valuable asset  Performance is nothing without ability to measure it  Every drop counts 1. Objectives are essential for organizational success because they state direction.7 BANK BELIEVES  Every door leads to our customers  The legacy of leadership stands as our guiding light  The strength of chain relies on the strength of each link  A keen ear is a key to understanding.7. motivating. Bank Al-Falah Limited objectives are as follows: To create maximum economic value for share holders through a constant relationship focuses on financial services.7.  To promote industrial. and controlling activities. focus coordination. and provide a basis for effective planning.7.  Leveraging BAL Investments in the IT field.

personalized service quality has served as Bank Al-Falah's unique signature since inception and continues to separate it from other financial institutions. and cooperation and that each customer deserves nothing less than full attention and available resources to meet their financial objectives. backed by a strong Abu Dhabi Group and inspired by the vision of its Board and Management. Bank Al-Falah has started operation of Automated Teller Machines in all the major areas like Karachi. Islamabad and other cities of Pakistan.9 STRATEGIES Bank Al-Falah has formulated certain sets of strategies to enable it to achieve its goals and objectives. communication. compared to the exalted banking standards. These strategies are mentioned below: 1. has built up a strong customer base. The Caring Bank Page 14 Report By F06B020 . 3.7. Management recognizes that a banking relationship requires compatibility. In order to achieve its goals of creating a sound base and presence of efficient modern banking system. 4. The main focus is building relationships and being known by the way they do business. Core value and corporate culture is based on the belief that superior personalized service is the most important product. Lahore. while applying leading technologies. Although still in its infancy. Today the Bank is well-positioned to provide appropriate banking services to customers. Bank is in the process of getting to know customers by name and understand their business and personal financial needs. Bank Al-Falah. 2. This one-on-one.1. Bank Al-Falah is committed to building long-lasting relationships through an assertion to service excellence and providing innovative products to meet the changing needs of our valued customers. The Bank provides a full range of banking services to corporate clients.

000) Ordinary share of Rs. lenders and trust advisors offer the unique perspective of knowing and understanding in the local economy.000. strong capacity for timely payment of financial commitments in the long term and by highest capacity for timely repayment in the short term. respectively. The Management focuses its attention on making informed and feasible economic decisions.10 SHARE CAPITAL    The authorized capital of bank Al-Falah is Rs.1. 7. a premier rating agency of the country. These ratings denote a very low expectation of credit risk. The Bank Al-Falah team comprises of some of the most highly skilled and professional financial experts in banking industry. The ratings of first and second and third unsecured listed and subordinated TFC issues of PKR 650 million. (100.(Double A minus).and A1+ in the long term and short term respectively.7.8 BAL CREDIT RATING PACRA (Pakistan Credit Rating Agency).5.600 Million (600. Managers.1000 Million. Al-Falah Bank was to get the credit rating of Pakistan Credit Rating Agency.250 million and Rs. To acquire the reputation and status of bank which operates on international standard. The Caring Bank Page 15 Report By F06B020 . 1.000. Keeping in view the unrest among the Islamic Community on the Interest Bearing Banking the Al-Falah is in the process of target marketing and gives its full attention to this segment of a large population over the world. PKR 1.325 million have been maintained at AA. which gave it the AA. Entity Rating for long term and A1+ (A one plus) for the short term.000) The paid up capital is Rs. has rated the bank ‘AA’ (double A). 6.10 each issued for cash 1. bringing better returns and more profitability for investors and customers.

Al-Falah network extend the courage to 72 branches in 30 cities nationwide. offers greater potential for serving a larger client base through high value products.1. As a result of that. In the year 2003. The Bank is fully aware that the branch network has direct implications on the service that it provides to its customers.9 BANK AL-FALAH BRANCH NETWORK Since the privatization in 1997. Bank Al-Falah Limited has remained consistent in its mission to excel in providing innovative products and services to its customers. In 2004. nine (9) commercial banking branches and five (5) Islamic banking branches were added to the Bank. Currently Bank Al-Falah has 282 Branches in 75 different cities. the yare 2003 has been most favorable for bank in spite of varying market conditions. The Caring Bank Page 16 Report By F06B020 . Bank Al-Falah is confident that a well-integrated branch network.

Bank Al-Falah has a uniquely defined menu of financial products. Loan against Car.10 PRODUCT & SERVICES With the mission to provide all-encompassing banking services to the customers. Balance Transfer Facility. Currently it is one of the most comprehensive portfolios of personalized financial solutions that are custom-tailored to serve the requirements not only of conventional customers but also fulfill the needs of the corporate sector:         Car Financing Rupee Travellers Cheques Online Banking Credit Cards ATMs Home Financing Islamic Banking Corporate and Structured Financing 1.1. Refinancing Facility (only for Al-Falah Customers) and it is characterized in terms of:  Lowest Mark up  Lower Insurance  Quick Processing  Lower Down Payment The Caring Bank Page 17 Report By F06B020 .10.1 CAR FINANCING Car Financing is one of the major renowned product of Bank Al-Falah and can be utilized in terms of Financing of Used Vehicles.

10.000 establishments in Pakistan.4 CREDITS CARDS Bank Al-Falah Visa Card is everywhere and globally acce pted and welcomed at locations displaying the VISA logo. Home Improver. Al-Falah VISA pays for shopping.000.10. Multiple Repayment Options and Free Valuation. hotels business establishments and all over the country and abroad. Quick Processing. This service is being offered to facilitate instant fund availability to travelers and business people who used to carry a large sum of money with them. travel agents. Home Construct. travel. It has been bifurcated in terms of “Home Buyer.10. The Caring Bank Page 18 Report By F06B020 . 1. It is accepted at nearly 30 million merchants and 870.3 RUPEE TRAVELERS CHEQUES Rupee Travelers Cheques are as good as cash and are accepted at the major shops. entertainment.There are 3 major types of AlFalah credit cards.000/upto 20Years 30% Borrower / 70% Bank  Equity Participation : 1. 10.000 ATMs in more than 150 countries around the globe and over 10. meals and much more.2 HOME FINANCING Major features of Bank Alfalh Home Financing are Lowest Mark-up.  Financing Limit  Tenure : : uptoRs. Home Balance Transfer Facility”.1.

1 AL-FALAH PLATINUM It is accepted at nearly 29 million locations in more than 150 countries around the globe and at over 27.1.10.000 ATMs and 13 million retail outlets around the world.4. making it the most acceptable Debit Card available in Pakistan.10. 1.4.3 GOLD & SILVER CARD A perfect card combination for all segments of salaried & professional individuals. worldwide. the first Visa Electron International Debit Card which gives an unlimited access to current / savings account with a simple swipe.2 TITANIUM CARD Titanium MasterCard is your partner everywhere and is globally accepted and welcomed at locations displaying the MasterCard logo.10.10. Bank provide fully automated on-line Report By F06B020 The Caring Bank Page 19 .000 establishments in Pakistan 1. 1.5 DEBIT CARDS Bank Al-Falah Limited presents Al-Falah HilalCard. at millions of retail shops and ATMs.4. 1.6 ON LINE BANKING To provide enhanced and value added products to customer bank is constantly striving for additional facilities. The Al-Falah Hilal Card comes with a host of conveniences and benefits combined with the wide reach of Visa Network enabling it to be accepted at more than 840.10.

10. which will increase to 50 by the year 2007. balance inquiries. account statements. It offers Shariah Compliant products through a network of five branches. Islamic Banking has launched following products.10. This system allows the banking facilities such as cash withdrawls. a) Al-Falah Masharaka Homes b) Murabaha Finance c) Aflalah Car Ijarah 1.10. statement requests. cash deposits.8 ISLAMIC BANKING A separate division is a recently initiated.7 AUTOMATED TELLER MACHINE (ATM) The bank offers 24 hours self service banking facilities to it customers on country wide basis through deployment of Automated Teller Machine. 1. All ATMs are linked through a state-of-theart Satellite Based Communication System which offers 24 hours real time service.  Loaning against securities  Letter of Credit  Letter of Guarantee  Demand Finance  Cash Finance The Caring Bank Page 20 Report By F06B020 . 1.9 CORPORATE AND STRUCTURED FINANCING The portfolio concentrates on all aspects of conventional banking as well as the financial needs of corporate sector including dynamic and high value product. which operates as separate branch. product information and exchange rate. funds transfer.telephone banking facilities to its customers enabling them to carry out banking transactions like balance inquiries.

Getting a chance of working in Bank Al-Falah proved to be very beneficial for me. who is the branch manager of Bank Al-Falah Liberty Market Branch.The Branch is running smoothly under the leadership of Mrs.DEPARTMENTS WORKED DURING INTERNSHIP With an intention of grooming the best executives of the future. But nothing could have been possible without the co-operation and guidance of the officers of BAL. when I was given the chance of selecting an organization. the Institute of Business & Information Technology has organized a comprehensive internshiptraining program. So. I did my internship at Bank Al-Falah Limited Liberty Market Branch. I think that I gained comprehensive insight into the working of a bank. for a total duration of six weeks. The departments that I worked during this time are as follows: Departments Accounts Opening Operations Car Financing Accounts Duration 2 weeks 2 weeks 1 week 1 week The Caring Bank Page 21 Report By F06B020 . All of us were placed in leading organizations of business arena to gain first hand knowledge and insight into their management and working. Aasma Mushtaq. Total number of employees in this branch is sixteen. I opted for Bank Al-Falah. It is relatively a small branch with a limited number of departments.

CHAPTER 2 ACCOUNT OPENING DPARTMENT WEEK 1 & 2 The Caring Bank Page 22 Report By F06B020 .

2.1 ABOUT THE MANAGER Faisal Shahzad Incharge Account Opening Bank AL-FALAH limited In account opening department I was under supervision of Mr.2. He offers a helping hand to all his subordinates and other department fellows. There is a great deal of value placed on openness and directness. Faisal Shahzad. These deposits are lent out to different parties such deposit creation is done through open an account in the bank. He was very co-operative person . Bank borrowing is mostly in form of deposits. 2. Mr.His management style is of collaborative type.000. incharge of this department.2 MAJOR DEPOSIT ACCOUNT PRODUCTS Borrowing funds from different sources has become an essential feature of today’s business enterprises. He deals and resolves conflicts with an effective way of communication and negotiation.1 CURRENT ACCOUNT Current Accounts are non interest bearing accounts that have a minimum account opening requirement of Rs 10. Faisal has a great ability to effectively negotiate and use persuasion when necessary to ensure the smooth working of his department and success of the organization. But in the case of bank borrowing funds from outside parties is more vital because the borrowed capital of a bank is much greater than their own capital. The Caring Bank Page 23 Report By F06B020 . No zakat is deducted on the accounts balance. Furthermore all current account holders receive a Hilal debit card and there are no restriction on the number of withdraws or deposits made to and from the account. 2.

however can be jointly opened by individuals.50% Negotiable 2.999.5. however initial deposit must be Rs 1000.2.000 to 4. Profits are paid at 2% on all account balances.000.999 Rs. Profit and loss saving account cannot be opened by a business corporation. There is no minimum balance requirement for BBA. 2. The Caring Bank Page 24 Report By F06B020 .3 BASIC BANKING ACCOUNT (BBA) Basic Banking Account was introduced by banks on an order by the State Bank of Pakistan and is current in nature. The profit paid to account holders is as follows: Amount From Rs.999 From Rs.4 ROYAL PROFIT ACCOUNT Royal profit accounts are opened with a minimum balance requirement of Rs 50.000 to 999.000 and profit is credited on a half yearly basis.2.4 KIFAYAT ACCOUNT Kifayat account is another saving account product that can be opened with a minimum balance requirement of Rs 10. The basic aim of this account is that the higher the balance the higher the return.2. 2.2 PROFIT& LOSS SAVING ACCOUNT Profit& Loss saving accounts can be opened with a minimum balance requirement of Rs 5. 2.1.000.000.2.50. Maximum two withdrawals and deposits are allowed by cheque.50% 3.000. There are no restrictions on the number of deposits and withdrawal made to and from the account and all account holders receive a Hilal debit card as well.000 and above Source: Bank Al-Falah Liberty Market Profit pa. as profit is credited on a monthly basis.2. while there is no restriction on ATM withdrawals. with a maximum limit of Rs 1 million.

credited on a monthly basis.5 MAHANA AMDAN ACCOUNT Mahana Amdan account is Term Deposit Receipt (TDR) for three years that can be opened with a minimum balance requirement of Rs 100.6 AL-FALAH EDUCATION Al-Falah education is a one year TDR that can be purchased by people having school going children’s. after the expiry of original period. Profits are paid at 10% pa.000.7 AL-FALAH KAMYAB KAROBAR Bank Al-Falah presents Al-Falah Kamyab Karobar (KK) . 2. with a maximum of 3 years. paid at maturity and gives an additional advantage of giving monthly school fee of the children’s if the breadwinner of the family dies.Profit is calculated on a monthly basis. Al-Falah KK Account can be opened with minimum deposit requirement of Rs 25. while the degree of free services will be dependent on the minimum thresholds of respective tier. Bank Al-Falah pays 7% pa interest on Kifayat Account.a structured. while it is credited on quarterly basis. tier-based current account that caters to your banking needs & aspirations. This TDR pays 7%. allowing you to The Caring Bank Page 25 Report By F06B020 .Its will give you the power to choose from different tiers and avail banking facility from any of the Al-Falah branches – PAN Pakistan. linked directly to the deposit balances in your KK account.2.000. 2.2.2. 2.000. KK Accounts have strategically been tailored into 3 different tiers. Other features of this account include free personal accident insurance and automatic renewal for another 3 years. branded. with a maximum limit of Rs 15 million. This product will provide you the opportunity to enjoy free services alongside state of the art banking facilities. A person can purchase a unit for Rs 100.

No interest will be paid on FC accounts. The three tiers are as following: a. Gold c. Foreign currency accounts can be opened as saving as well as current accounts. including Foreign Exchange control Regulations and directives of state bank of Pakistan.2. This account is maintained and opened subjected to local laws and regulations in force from time to time. The bank may decline to accept the foreign currency notes for deposit in foreign currency account. Some of the Salient features include (tier-based):       Free Online Transactions Free SMS Debit Alert (Subject to availability) Free PO/DD Free Accidental Cover( Valid for up to two People) Free cash deposit across Pakistan Gold VISA debit/ATM Card with every account 2. The foreign currency The Caring Bank Page 26 Report By F06B020 .8 FOREIGN CURRECY ACCOUNTS/DEPOSITS Residents and non-residents Pakistanis’ as well as foreigners can open foreign currency accounts.e. Profit or loss on foreign currency accounts will be paid on half yearly basis and on the term deposit it will be paid on maturity. Silver b. Withdrawals shall be subjected to the availability of particular foreign currency with the bank and the prevailing directives of the state bank of Pakistan. higher the number of free services.choose the allotted free service to your benefit. as prescribed by the State Bank of Pakistan from time to time. Higher the deposit. Platinum The unique tier based structure ensures that you can avail smooth & cost efficient facilities based on your current level of deposits i.

securities and jewelry etc. 2. 2. drafts and orders signed by the single authorized signatory. only when it is clearly written in the instructions” EITHER OR SURVIVOR”.9 JOINT ACCOUNT If the account is opened by two or more people. or to the survivor (surviving depositor). unless the bank receives a written request from the customer three days before expiry date that he does not wish to renew the account.2. If the bank prior to acting the instructions received from authorized signatory receives a contradictory statement /order from other signatory. Important features of locker facility are as follows: The Caring Bank Page 27 Report By F06B020 . bank is entitled to act upon the instructions received by the guardians.deposit will be automatically renewed upon the expiry of maturity date at the prevailing rates as prescribed by the bank for that period.11 SAFE DEPOSIT LOCKERS Bank Al-Falah also provides safe deposit locker facilities to its customers for safe keeping of their valuables like documents. the bank may refuse to act on either of them and insist upon instructions of all the joint account holders. When the account is operated by a single operator. the balance to the credit shall belong to both of them jointly.10 MINORS ACCOUNT In case of an account opened by a minor.2.2. the bank shall honor and pay to the debit of joint account all cheques. 2. Bank will continue to follow the instructions irrespective of the instructions provided by the guardian unless or until the guardians or appropriate authority gives written instructions.

000/-in a saving account or at managers discretion considering the overall relationship of the valued customer.4.to Rs. Annual locker rent ranges from Rs. Vernacular form if Signature in URDU.in a current account or US $50. Page 28 Report By F06B020 The Caring Bank .  Various sizes to choose from small.2 million or above in a current account or US $25. 000/- Locker rent is waived for customers maintaining a deposit of Rs.1.1 PERSONAL (INDIVIDUAL OR JOINT) ACCOUNT  Account opening forms dually signed /completed(by all parties in case of joint accounts)     Copy of NADRA issued CNIN or passport.4. 000/. medium.000/. Two photograph with thumb impression in case of illiterate customers.3 INTERNAL CODES FOR BAL ACCOUNTS Some of the major account opened at Bank Al-Falah Liberty Market and their internal codes are as follows: Account Type Current Account Profit& Loss Account BBA Account Royal Profits Current Account USD Source: Bank Al-Falah Liberty Market Code 010***** 020***** 0189**** 029***** 018***** 2. large and extra large. 2.4 ACCOUNT OPENING REQUIREMENTS 2. Introduction of BAL account holder.

(Form –C contain the all information about the year when the firm is registered)  Introduction. Copy of CNIC.2 SOLE PROPRIETORSHIP ACCOUNT    Account opening forms dually signed /completed and stamped. In include the information regarding capital.  Memorandum and Article of Association.  Form–C in case of registered partnership.2. Copy of CNIC of all the partners.4. (It belongs to the internal & external dealing by firms.3 PARTNERSHIP ACCOUNT    Account opening forms dually signed/completed and stamped. Board Resolution attested by company secretary resolving to open an account in BAL liberty market along with the signing instruction of the  Authorized signatories to operate the account. Copy of CNIC of the entire end. paid in capital.4 LIMITED COMPANY ACCOUNT    Account opening forms dually signed /completed and stamp. This resolution must bear Company Seal which must be signed by the two directors (as per the clause in MOA).4.4. who operate this account etc) The Caring Bank Page 29 Report By F06B020 . 2. Partnership deed dully verified by notary public and signed by all the partners. Sole proprietor’s declaration on BAL format required on letter head 2. shares of firm.

List of trustees duly certified. Resolution attested by company secretary resolving to open an account in BAL. it is called Dormant Account.5 TRUST/ ASSOCIATION/ CLUB/ NGO ACCOUNT       Certified of trust deed. Certified Copy of by Laws. The personnel employed in this department really full fills all the required ingredients for the respective designated posts. making their needs fulfilled and make them feel comfortable in the branch and to let then feel that “They Really Do Care”. NICs of all the trustees.  This resolution must bear Trust Rubber Stamp. The bank does not make payment of a cheque bearing a six month or older date if an account is not operated in six months.4. 2.5 MAJOR WORK DONE BY ACCOUNT OPENING DEPARTMENT This is the first department and is directly interactive with the customers so the main activity in this department is to handle with customer’s requirements. which must be signed by the trust Secretary. Major duties of Account Opening Officer include:   Opening new account Maintaining old accounts Page 30 Report By F06B020 The Caring Bank . liberty market branch along with the signing instructions of Authorized signatories to operate account. .2. Certificate of registration.

There are few essential documents like    SSC (Specimen signatures cards) Sign verification New sign (if account’s sign differs from CNIC account) There are lists of documents which are required for opening a new form that is attached later on with the report.5.5.2 MAINTAINING OLD ACCOUNTS This includes continuous updating of the previous customer’s accounts including change in any of their personal/business/ employment/studies/signature details The Caring Bank Page 31 Report By F06B020 .1 OPENING NEW ACCOUNT First of all when a new customer walks into the bank and wants to open an account. which is really a big advantage for the customers. Withdrawals Hold mail facility Stop payments Bank statements and bank balance 2. which is confirmed from there and if there is any document missing in the form. When the report is completed it is then sent to BAL Head Office Karachi. which contains all the required information that must be taken by the customer for his/her respective details and later on to provide the security of their accounts. but one thing to mention clearly here that the account is opened (account number is allotted) instantly to the customer within 4-5 minutes and the customer can use his/her account instantly.      Issuance of cheque books Processing and issuing ATM / Debit / Hilal Cards. it is asked by the concerning branch to provide. he/she is asked to fill a Bank Al-Falah account opening form. 2.

2.5.3 ISSUANCE OF THE CHEQUE BOOK When a new account is opened. When this letter is showed in the account opening department they confirm the letter and then sends request for the cheque to Head Office Karachi. name.5. The process for the Hillal cards is very simple. If the customer is old and needs a new cheque book the process is almost the same.4 ATM / DEBIT CARDS In the terminology of the BAL debit or ATM cards are known as Hillal Cards. The Caring Bank Page 32 Report By F06B020 . This is the confirmation and proof that the customer is holding an account in the BAL. The cheque book is received by the respective branch with in 1-2 days outmost. When you are filling the form for opening an account then there is a leaflet which is actually the application for the Hillal card. 2. Address and initialize it and you receive the card at your door step. When the customer comes in to collect the cheque book he signs a letter that he/she has received the cheque book at the Mentioned date. One thing is important to mention here is that when the cheque book is received by the bank and the customer doesn’t comes to receive the book within 90 DAYS or the account of the customer is closed due to any reason the cheque book is destroyed under the supervision of concerning authorities. If there is any request is received from the customer to update his/her account then it is carried out instantly without any wastage of time which is again a big plus point and a solid proof for the dynamism of the bank. You just have to enter your CNIC. the customer receives a “Letter of Thanks” from the Head Office Karachi.they are continuously monitored and updated by the department heads and assisting personnel.

failing which the customer shall have no right to contest the correctness of any entries made there in. the customer shall himself be solely responsible for any loss arising out of any fraudulent use of lost or stolen cheque book /cheque leaf. but in case of any mistake or error. 2.6 STATEMENT OF ACCOUNT The bank shall quarterly or at such other interval as it may deem fit sent to the customer statement of account and the customer shall check the entries made there in. the customer shall promptly notify the bank in writing. In case of loss or theft of the cheque book or any cheque leaf. The bank shall ensure that debit and credit entries are correctly recorded in the account.2. The customer shall ensure safekeeping of the cheque book and shall not allow access the cheque book to any unauthorized person. if fails to give such notice to the bank.5.5. In case of any discrepancy or error in the statement of account the customer shall notify he bank with in 14 days of receipt of statement of account. the bank shall have the right to rectify the mistake or error by making the correct adjusting entries with out notice and recover any amount wrongly paid or credited.5 WITHDRAWALS Withdrawals from the account shall be made only by using cheque books supplied by the bank at the request of the customer or by using ATM cards (if allowed)The bank reserves the right to withdraw the cheque book facility without notice if in the opinion of the bank the account is not being maintained or operated in accordance with terms and conditions or for any other reason The customer shall exercise care when drawing cheques and agree that cheque will not be drawn in a manner which may enable a cheque to be altered in a manner which is not readily detectable. The Caring Bank Page 33 Report By F06B020 . The bank shall not be liable for any loss or damage due to such errors/mistake.

the customer is guaranteed that no illegal payment is made from their account.9 BANK STATEMENT AND BANK BALANCE A bank statement tells the whole activity of a bank account over a period of time. after the customer tells that he has lost is cheque book is that he fills a ‘Form B’. stating no responsibility on behalf of the bank if any illegal payment is made before the time of announcing a cheque book lost. By stopping payment. the bank may in its sole discretion provides a (hold mail facility) where by the bank shall retain for periodic collection by the customer. As part of my internship.5.5. relating to the time period for which the bank statement is needed. 2.5. The process for stopping payment.The customer accepts all risks and responsibilities in this regard. I was to assist a customer towards the whole process of stopping payment. The Caring Bank Page 34 Report By F06B020 . all communications and statements of the account relating to the customers account.2. which is same as a cheque book requisition form and an indemnity form. The customer hereby waives his rights to question any detail appearing in the hold mail communication or statement of account irrespective of their actual receipt. by telling the series of cheque he has lost. 2. then that customer will have to come to the bank and firstly report the loss and then stop payment.7 HOLD MAIL FACILITY Upon written request of the customer.8 STOP PAYMENT If a customer looses their cheque book. or his duly authorized agent. Customers often come and want their bank statements and have to fill a form.

As part of my internship. The Caring Bank Page 35 Report By F06B020 . I was to assist the customer to fill the ‘Bank Statement Form’ and produce the statement through the banks software and print it as well. Often customers want to know their accounts balance over the phone and thus I had to tell them their account balances using the banks information system ‘Bank Smart’.

I experienced the environmental and cultural gloom of corporate world of Pakistan.2. I learned the process of opening and closing of different types of account. issuance of cheque book. balance statement. I was quite able to understand the operations. I learned how to operate bank smart. I helped my supervisor in collection of zakat declaration forms from customers which were needed in the process of zakat deduction. I experienced that the communication is the key weapon of any manager that could lead him to resolve/explore any conflict / situation with great ease. In this department. customer dealing.6 CONCLUSION During my 2 week stay in Bank Al-Falah. dormant accounts. The Caring Bank Page 36 Report By F06B020 .

CHAPTER 3 OPERATIONS DPARTMENT WEEK 3 & 4 The Caring Bank Page 37 Report By F06B020 .

Flexibility and versatility are valuable qualities of Mr.1 ABOUT THE MANAGER Hussnain Shah Operations Officer Bank AL-FALAH limited Mr. hussnain Shah is one of those managers who are not strictly a follower of the syndrome of high status. He is an excellent manager who lives from a knowledge base. He is the incharge of clearing and remittances department of BAL who compliments and connects with others on a human level through inspires great loyalty towards himself by employees. Beneath the flexibility and versatility he has ability to be composed and never over-reacted with everyone around.3. consequently. they are able to respond perfectly to another through his deeper understanding. Intution is his hallmark. Hussnain Shah. He deals and resolves conflicts with an effective way of communication and negotiation.2 MAJOR WORK DONE BY OPERATIONS DEPARTMENT The operations department is responsible for three major activities:     Clearing Transfers Remittances Cash Transfers Report By F06B020 The Caring Bank Page 38 . 3. without having a draw attention to it. He with keen insight is often able to sense what others are thinking and feeling.

Bank Al-Falah account holder. The bank officer verifies all particulars from the instruments and the system for sufficient balance etc.2. Operations department is sometimes also known as the Transact department. known as operations.1. If no fault is found. 3. If any fault is found.In large branches of Bank Al-Falah. all these jobs are done by different departments. then the officer will post these cheques in the system by debiting the customer account. 3. stating the reasons with them. all these jobs are done by one department. Cheques are received by the operations department from NIFT 2.1 INWARD CLEARING Inward clearing takes place when a Bank Al-Falah Liberty Market account holder drew’s a cheque in favor of a Non. but as Bank Al-Falah Liberty Market is a small branch. The particular of the returned cheques are entered in the ‘O/W return of inward clearing’ register and returned to NIFT. then the officer will mark the cheques as a return. The Caring Bank Page 39 Report By F06B020 .2. 4. The process for inward clearing is as follows: 1.1 CLEARING The clearing department is responsible for the clearing of all cheques that the bank receives daily and the different types of clearing cheques that come in the bank are:     Inward Clearing Outward Clearing Online Clearing Outward Bills for Collection 3.

however should have an account in the Islamabad/Rawalpindi area. Cheques are received by the operations department of Bank Al-Falah Liberty Market 2. Clearing stamps are affixed on the cFheque and sent to the other bank via NIFT.1.4 OUTWARD BILLS FOR COLLECTION (OBC) There are some cheques that are drawn by a Non Bank Al-Falah Account that is outside the twin city area in favor of Bank Al-Falah Liberty Market account holders and thus are treated as OBC’s. The process for outward clearing is as follows: 1.1.1. it is credited to the Bank Al-Falah account via the online transfer software. the posted entries are reversed and the cheque is returned to the customer who presented it and is recorded in the cheque return register. When the cheque is cleared. The customer in favor of whom the cheque is drawn is credited 3.3. If any cheque returns the next days as a returned.2. The cheque is sent as an outward clearing via NIFT 2. The person. 3.3 ONLINE CLEARING Online clearing takes place when a cheque is drawn by a Non-Bank Al-Falah customer in favor of a Bank Al-Falah customer but is deposited at Bank Al-Falah Liberty Market. who had drawn this cheque.2. The process for online clearing is as follows: 1.2.2 OUTWARD CLEARING Cheques drawn by Non-Bank Al-Falah customers in favor of Bank Al-Falah Liberty Market customer and deposited at Liberty Market Branch are known as outward clearing cheques. The process for clearing of the OBC’s is as follows:  Cheques received by Bank Al-Falah Liberty Market The Caring Bank Page 40 Report By F06B020 . 3.

The process for internal transfer is as follows: 1. Entries of all OBC cheques are written in an OBC register. The cheque will be sent for supervision to the operations manager for authentication of the entries The Caring Bank Page 41 Report By F06B020 .     The officer affixes the OBC stamp on the cheques and writes its individual number from the OBC register. Internal Transfers 2. it sends an Inter Branch Credit Advice (IBCA) to Bank Al-Falah Liberty Market and the officer at the branch credits the customer account with that amount 3. Officer of the bank receives the cheque and determine if the cheque is an internal transfer by looking at the branch code.2. if they are same then it is an internal transfer 2. The officer will post entries by credit the account in favor of whom the cheque was drawn and debit the account that drew it in the banks software. An OBC letter is printed.2 TRANSFERS Transfers are conducted by Bank Al-Falah Liberty Market Branch. There are two types of transfers: 1. Online Transfers 3.2. Original Cheques are attached to these letter and sent to the main Bank AlFalah branch in that area by courier When that area branch clears the amount from the Non-Bank Al-Falah branch.1 INTERNAL TRANSFERS Internal transfers take place when a Bank Al-Falah Liberty Market account holder draws a cheque in favor of another Bank Al-Falah Liberty Market account holder.2. 3. the branch drawn on and amount. which shows the cheque numbers. using its software ‘Bank Smart’.

Posts entries by debiting the account of the cheque. When supervised.2. The bank officer collects the cheque from the depositors. 2. which are as follows:   Pay order: Used to transfer money within the city Demand Draft: Used to transfer money outside the city 3. the amount etc and The Caring Bank Page 42 Report By F06B020 . Verify’s if the accounts are online and need to be transferred online 3. Sends the cheque for supervision to the operations manager 5. the cheque will be affixed with the official stamps and kept with the bank.2.2. The procedure that is carried out in transferring money through pay order is as follows: Procedure for Transferring Money through Pay Order The customer will come to the bank and fill in the pay order application. the cheque will be affixed with the official stamps and kept with the bank. 3. The process for online transfer is as follows: 1. giving in the details to which account the money is being transferred.3 REMITTANCES There are two main types of instruments that are used to transfer money.2. 4.4. When supervised. 3. while crediting the account on the slip attached with the cheque.2 ONLINE TRANSFERS All those transfers that take place when a Bank Al-Falah account holder draws a cheque in favor of a Bank Al-Falah Liberty Market account holders are known as online transfers.1 PAY ORDER Pay orders are made to transfer money within the city and this is a safe way to transfer money as the person who makes the transfer through pay order pays in advance.3.

3. Pay orders can also be made through cash but mainly it is made through cheque. makes out the charges for the transfer that the customer will pay and then make the pay order for the customer and pass the following entry: Customer A/c Pay order payable When the customer in favor of whom the pay order was made gives the pay order to his branch. Then the officer will check all the details and make a demand draft for the customer and pass the following entries: For Cheque Customer A/C Head Office For Cash Sundry A/c Head Office The Caring Bank Page 43 Report By F06B020 . and will attach a cheque or pay cash as he wish.2.attach a cheque to pay for the pay order.2. The customer will fill the details in a DD application form. the entries passed are: Pay order payable Customer A/c 3. There are two types of situations for transfer of money through demand drafts: 3.2.3.2 DEMAND DRAFT Demand Draft is another way in which customers can transfer money outside the city. The officer checks all the details in the application.1 OUTWARD DD’S When a customer comes to Bank Al-Falah to make a DD to transfer money outside the city is known as outward DD.

When the bank receives the advice. The entries passed will be: Customer A/c Citibank A/c Citibank will then transfer that money to Bank Al-Falah Karachi.3 FOREIGN REMITTANCES Another type of remittances is foreign exchange transfer from another country to a Bank Al-Falah account in Pakistan. through SWIFT.2. the following entries are passed: DD Payable A/c Cash If that customer is a Bank Al-Falah account holder then the following entries are passed: DD Payable A/c Customer Account 3.2.3. Procedure for Foreign Transfers The customer will come to Citibank to transfer money to Pakistan.3. the officer will pass the following entries: Head Office A/c DD Payable A/c When the customer comes with the DD to get his payment.3. Bank Al-Falah for foreign exchange transfers takes the help of Citi Bank for routing.2. The entries are: Citibank A/c Bank Al-Falah Nostro A/c (khi) The Caring Bank Page 44 Report By F06B020 .2 INWARD DD’S This is the procedure adopted when the issuing branch sends copy of the instrument as an advice.

The first is when a Bank AlFalah Liberty Market account holder either deposits or withdraws cash. with an online account can withdraw or deposit money to his account from the Liberty Market branch.2. Nostro A/c Bank Al-Falah Demand A/c Now when the customer will come to take his money. while the second one is when a Bank Al-Falah account holder.4 CASH TRANSFERS The cash transfers in the transact department are responsible with the cash deposits and withdraws made by Bank Al-Falah Liberty Market account holders. the following entries will be made: Demand A/c Customer A/c 3.Later Bank Al-Falah will transfer the Nostro A/c money into the demand account. There are two types of cash withdraws and deposits. The Caring Bank Page 45 Report By F06B020 .

As part of my internship. I learned about different types of crossing on cheques and about demand drafts. I was responsible to collect cheques from the customers that they deposited. inward clearing.e. outward clearing and intercity. pay orders and telegraphic transfers. IBC and OBC. The Caring Bank Page 46 Report By F06B020 .3. register the return cheques in a register and make OBC schedules.3 CONCLUSION My third and fourth week was full of learning and understanding of the functions and operations of the clearing department. I got familiar with the process of clearing and its types i. put the official stamps on the different kinds of cheques.

CHAPTER 4 CAR FINANCE DPARTMENT WEEK 5 The Caring Bank Page 47 Report By F06B020 .

this openness allows him to quickly change on time when necessary. Versatility implies an openness. with a bounce in their step. with a can-do attitude. There is a special software for leasing or financing your car. 4. Flexibility and versatility are valuable qualities of Mr. Kashif. that gets The Caring Bank Page 48 Report By F06B020 . Kashif Rana.Small actions lead to big picture. He is well committed to his goals and expresses this commitment through optimism. manager of this department. Bank Al-Falah offers you the most convenient and affordable loans in Pakistan. He has a very clear vision about his department’s goals and has the ability to articulate it in accordance to the organization’s goal and vision.1 ABOUT THE MANAGER Kashif Rana Manager Car Finance Bank AL-FALAH limited In car finance department I was under supervision of Mr. He is a kind manager who is full of enthusiasm. affordable and flexible installments. Flexibility and versatility are path ways to speedy responsiveness of Mr.4. People prefer getting their cars financed rather than paying upfront because it is convenient and lessens the burden of paying a huge sum of money upfront. he is skillful at doing both: thinking big while also paying attention to details.2 AL-FALAH CAR FINANCE Car financing has become one of the most selling financial products of almost all banks. Al-Falah car financing is specially designed for you with easy. Beneath the flexibility and versatility he has ability to b composed and never over-reacted with everyone around. Whether its funds for a home renovation or purchase of your first car. Kashif Rana.

Insurance facility from three different insurance companies Tracking devices with all Suzuki Mehran and all Toyota Models Fixed mark up rates Co borrowers facility The mark up rates for all locally build new cars is a follows: Financing Product Car Loan for Brand New Vehicles Source: Bank Al-Falah Website 1Yr 14. 4.to Rs.50% 3Yr 15.starting from 10% of car value 5 % extra at time of pre-mature payment.00% 4Yr 15. Financing limit ranging between Rs. The Caring Bank Page 49 Report By F06B020 .50% 4.000. Financing of all brand new locally assembled vehicles. 000/.1 BENEFITS AND FEATURES     No hidden charges Minimum down payment Complete repayment at any point of time Balance transfer facility [BTF] for existing as well as new clients from other banks.2.50% 5Yr 15.000.    Tenor period ranging from 1 to 7 years.all your information required and makes a computer generated plan for our your car that suits your choice and your best fits your financial position.200.00% 2Yr 14. Some of the features of Bank Al-Falah Car Financing are:        Tenure of 1-5 years Minimum down payment.

Following are the most commonly used insurance companies which are offered by the BAL.5 % P. Pay year insurance premium in advance (at the time of down payment) and remaining in the subsequent equal monthly installment. Rates are varied for different insurance companies: Al-Falah refers to various companies.  There is a new policy that Suzuki Mehran must are issued only with tracker and the insurance + Tracker rate of 5.A. NAME OF COMPANY RATE OF INSURANCES Adam Jee Insurance EFU Atlas Insurance 4.2 CORPORATE & INDIVIDUAL CAR LEASING BAL’s recently introduced car leasing facility for individuals and corporate sector has set now dimensions for the product.5 % 3. The Caring Bank Page 50 Report By F06B020 . Now you are provide with the option of either to get the vehicle leased or financed.  It is meant for increased safety. 4.2.4.5 % 5. but for cars above 2.000 cc trackers are used for which extra insurance are provided.3 INSURANCE Renowned and reliable insurance companies are offering the competitive rates of insurance.9 %  Various car types are insured at a different rate.2.

9 % 4. When the car is delivered to the customer. Bank Al-Falah's mark-up rates are as follows: Pak Suzuki Cars All other local assembled Cars Imported Cars 11. BAL is offering a very comfortable and affordable repayment plans that can be customized with the requirement of every customer’s need. BAL has captivated a major market share and so is the plan for future. Another facility BAL is giving is that.2.4 MARK UP Offering lowest rate of markup of 13. for the car leased for 7 years (Suzuki Liana) the markup is 16 % P. the markup increases as well.5%.2. This markup is only for the customers who want to get its car financed or leased for One year only. on the registration book.9 % 12.4. BAL marks a lien and this The Caring Bank Page 51 Report By F06B020 . so that the customer doesn’t can easily pay back the loan. you can pay back the entire loan (But not before 1 year after disbursement) at any time with the Plenty of just 5 % of the total amount outstanding.9 % 12.2. 4.6 SECURITY Hypothecation of vehicle in the name of the Bank Al-Falah Limited.A.5 REPAYMENT Easily affordable installments on monthly basis in the form of postdated cheques will set you free of depositing your rental cheques every month. (per annum). as the duration of financing increases. For example is a customer can not pay heavy installments then the there can be a easy installment plan with high down payment.

entitles the bank to use his all rights incase of nonpayment of loans. Customer has already signed in the legal documents regarding hypothecation, so bank can take all the legal actions. Secondly, the duplicate key of the car is in custody of the bank, and if in any case of taking the vehicle back, bank has all the rights to use the duplicate key. When the loan is paid up, it’s the responsibility of the bank to return back the Original Papers of the car and the duplicate key.

4.2.7 CO-BORROWER
Acting as a co borrower, will enables your family members (spouse, children -18 years and above) to avail the financing facility and can get the car registered in their names as well. This is another a vital facility which is being provided by the bank to entitle is customers a more comfortable business with the bank. COborrower is a very important concept and has vital significant like and the most important is that if a person is not eligible to get a car by its own, he/she can contact any person (usually close relative) on his/her documents and statement, and most importantly the name on the Registration book is of that co-borrower.

4.3 REQUIRED DOCUMENTS FOR CAR LOAN
There are some essential documents required by the BAL according to the polices of the SBP. The file of the customer contains all the following documents, and if all the documents are enough in convincing the authorities that the customer is not going to default and will repay the loan without delay then the case is approved and loan is disbursed.

4.3.1 FOR BUSINESSMEN
 Copy of NIC  NTN
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 Bank statement last 6 months  2 photograph (Supplementary)  Proprietorship certificate (Supplementary)

4.3.2 FOR SALARIED PERSON
 Copy of NIC  2 photographs bank statement last 6 months  Salary certificate (3-months)  NTN Utility Bills(PTCL)

4.3.3 FOR PARTNERSHIP FIRMS
 Partnership Deeds  Copy of NTN  Form –C or firm Regulations certificate  Balance sheet  Copy of NIC’s of all partners  Copy of Utility bills(PTCL)  Partnership declaration form  Income Statement

4.3.4 FOR SOLE PROPRIETORSHIP
 Copy of NTN  Balance sheet  Copy of NIC  Copy of Utility bill  Bank Declaration form.

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4.4 ELIGIBILITY
Yes now people get a car loan from Bank Al-Falah to purchase a brand new car if we are:  Pakistan National Identity Card holder  Over 20 years of age (maximum 60 years in case of salaried and 62 in case of a business person at the time of maturity of the loan)  Salaried , Business man of self employed

4.5 SPECIAL FEATURES
 The car is the security, which will be hypothecated in favor of the Bank and the lien will be marked with register.  You have the option to repay the loan at any time during the tenure of the loan.  You will repay the loan by making easy monthly installments to Bank AlFalah in the form of post dated cheque.  Bank Al-Falah has made arrangements with the top insurance companies who are offerings special lowest rates for Bank Al-Falah clients. (First year’s insurance has to be made in advance and the remaining years in equal monthly installments)  You have to pay a one-time fee of Rs. 3000/- being amount of processing and documentation charges and the first year’s insurance premium.  Initial down payment that the client has to make is 20% of the value of the car.  The loan can be availed from 1 year to 5 years with early adjustments facility at any time before the maturity.

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 The minimum amount of loan facility that the client can have is Rs.200, 000/- and maximum amount is Rs. 4,000,000/-.  Client can apply for all brand new Pakistani assembled manufactured cars(Unregistered)  You can get a car loan from Bank Al-Falah to purchase a Brand new car if you are o Pakistan National Identity Card Holder o Over 20 years of age (maximum 60 years in case of salaried and 62 in case of a business person at the time of maturity of the loan) o Salaried, Business man of self employed.  You can include your spouse, children (18 years and above) or parents as co – applicants for the car loan and the car can be registered in their names.

4.6 PROCEDURE FOR CAR FINANCING
The procedure for car financing starts when a customer comes and asks for a plan for a specified car. When he receives this plan, he will fill an application form for a car financing, stating the car he wants to finance, its color, personal details and two references. They also pay a processing fee which is non refundable. The bank then conducts a verification of the two references, which for Bank AlFalah Liberty Market is conducted in Rawalpindi. A ‘Verisys’ is also conducted on the applicants CNIC and a Customer Credit Information Report is taken from the CIB. After the verification process is completed, a Credit Line Proposal (CLP) is generated by Bank Al-Falah Liberty Market, to be sent to the Area Office for a final approval with all other documents as well. The final authority of passing the application remains with the Area Office.
The Caring Bank Page 55 Report By F06B020

When the tenure for the car financing is completed. insurance documents are sent to the specified insurer. by writing in detail about the car. Later on the car is registered with the Excise and Taxation Officer and is given a number. a quotation is sent to the car dealer for the specified car. As part of my internship I had to complete the final legal document signed by the customer. the key to the car is handed over to the customer with all documents relating to the car. When all this process is complete. give the bank post dated cheques and sign a legal document with the bank. the bank issues a NOC to the customer. When this process is complete. the customer will make the down payment.After the Area Office approves the application. the financing period and witnesses pertaining to the agreement etc. The Caring Bank Page 56 Report By F06B020 .

In this department I got the opportunity to make practice of some most important topics of finance that I have learned in my university and to exercise those concepts in real corporate world like amortization table.4. The Caring Bank Page 57 Report By F06B020 . determination of interest rate etc.7 CONCLUSION This department keeps an all in all fascination for me. It is totally a different category from other departments of those I got experience.

CHAPTER 5 ACCOUNTS DPARTMENT WEEK 6 The Caring Bank Page 58 Report By F06B020 .

The culture I observed in this department was very friendly. He is very much supportive and obliging to his subordinates. Hamid Siddique and assisted by Mr. During my entire stay I observed that he is a kind manager who believes in self empowerment of the employees. He is in a habit of resolving conflicts. if any.5. Majid Malik and Mr. but of collaboration and co-operation 5.2 ACCOUNTS Most important department of the bank is concerned with  Revenues  Expenses  Assets  Liabilities These are the pillars of business. His attitude and management style is not of commanding type. The accounts department is supervised by Mr. In this department. where all the employees were performance oriented and were highly focused towards the end results.1 ABOUT THE MANAGER Hamid Siddique Incharge Accounts Department Bank AL-FALAH limited Hamid Siddique. Hafiz Naveed. He always for the ways to solve client’s problems and deals with inter-department with a win approach. with effective communicating skills. all the vouchers are The Caring Bank Page 59 Report By F06B020 . the incharge of accounts department is a nice person.

These vouchers are already posted to computer by the concerned department. Because more of less each and every account is been credited or debited by some amount so the purpose of this department is to make sure that the right person’s account is credited and debited. signatures all the requirements for cheques and vouchers are fully checked.3 MAJOR ACTIVATES Accounts department is totally a backend department and is not linked to customers at all. The accounts department has to tell that all the vouchers are posted under the right head. Amount.posted during one day are sent to Accounts department next day. outside the branch and for other banks are handled with this department. The Caring Bank Page 60 Report By F06B020 . all is paid from the Accounts department. Major activities in accounts department are  Maintaining accounts of customers  Monitoring & posting daily activities and transactions The major activates are to update customer’s account continuously and on daily basis. If any kind of renovation or construction or rebuilding is done. This is one of the most sensitive departments because the customers account are credited and debited solely by this department so there is a very strict check and balance system for this department and each transaction is monitored and rechecked at least twice and supervised even by Manager Operations if amounts are high. etc are all paid by this department 5. date. stationary charges. Like petrol for the car. medical allowances. stamps. All the day’s transactions inside.

1 REPORTS It generates reports like Statement of Account Activity (a report on the activity of all accounts at Bank Al-falah Liberty Market).2 MONITORING & POSTING DAILY ACTIVITIES & TRANSACTIONS Monitoring daily activities include each and every transaction from all customers’ accounts including. The Caring Bank Page 61 Report By F06B020 . These reports can be generated at daily.4 FUNCTIONS 5. International remittance.5.1 MAINTAINING ACCOUNT OF CUSTOMERS Once the account is created by the Account Opening Department it is not duty of accounts department to continuously monitor each and every account on daily basis. 5. Statement of Foreign Exchange (a report on the foreign exchange currencies at the bank) and Statement of Profit & Loss (a report on the income and expenditures of Bank Al-falah Liberty Market). inward and outward transactions etc. 5. The responsibilities in the accounts department are to debit and credit each and every transaction. quarterly or yearly basis as required by the bank.3.4. supervise it and special transactions which require supervision by higher authorities should be supervised. ATM transaction. monthly. Statement of Affairs (a report on the assets and liabilities of Bank Al-falah Liberty Market).3. local remittance. weekly. monitor it. They monitor which account is performing well and which is not? Which account and which customer needs special care and special services? There are special accounts associated with credits and loans they are monitored specially.

Packing 5.1 COLLECTING VOUCHERS The first stage of activity checking is collecting all vouchers. cheques etc from all departments 2.5 PAYMENTS The accounts department is responsible to pay vendors on behalf of the bank with authorization from the branch manager.2 INCOME AND EXPENSE The department also needs to calculate the revenues and expenses. 5. I had to do daily activity checking and there are four stages in which activity checking takes place: 1.4. pay order.4 STORAGE OF RECORDS Accounts Department also has the duty to store vouchers and system generated reports.6. 5. 5. Checking Activity 4.4. DD’s. pay slips etc from all departments of the bank.4.5. Collecting vouchers.4. It also has to amortize large payments and calculate depreciation of branch assets. Mainly vouchers come from The Caring Bank Page 62 Report By F06B020 . Sorting Vouchers 3. 5. control expenditure and forecast profits every month.4.6 ACTIVITY CHECKING In the accounts department. cheques.3 BUDGET Formulation of yearly budgets & targets in consultation with the branch manager is also done by the accounts department.4.

ATM. we need to check if all stamps are stamped on these vouchers etc. Online: Contain online vouchers and online credit slips etc 7. Others: Includes vouchers about excise duty.4. all sorted vouchers are counted. Bills Payable General (BPG): Includes vouchers and DD. DD advices 8. Income: Income vouchers 4.4.6. Head Office (H. The Caring Bank Page 63 Report By F06B020 . Expenditure: Expenses vouchers and payment vouchers 5. FED. Activity checking is done by seeing if the values and account numbers in the sorted vouchers match that of the activity and whether or not there is any missing activity that is not in the vouchers.3 CHECKING ACTIVITY After sorting takes place. payables etc 6. Customer Credit: Includes credit vouchers and credit slips 3. daily activity is checked using the statement of account activity.4. Pay orders. After collecting these vouchers etc from the departments.O): Includes HO vouchers and IBCA. teller. both debit and credit and then packed by totaling the vouchers.6.4 PACKING After the activity is checked. 5. which contains all daily activity of the accounts in the bank.2 SORTING VOUCHERS After all vouchers are collected. they need to be sorted into eight categories: 1. 5.the operations department. Customer Debit: Includes debit vouchers and cheques 2.6. Pay slips etc 5.

5. income from operations and expenses and reporting to the area office about all the operations.e. The Caring Bank Page 64 Report By F06B020 . maintaining. all operation of the branch. and record keeping of accounts i.5 CONCLUSION During my sixth week of internship I learned the process of checking.

CHAPTER 6 SWOT ANALYSIS The Caring Bank Page 65 Report By F06B020 .

I am pointing some of the major strengths of the bank 6. the clients’ perception for BAL is very high.6. I observed that they interact with their clients as if they are their personal friends and discuss about their problems as their own. it attaches great significance to the development and maintenance of healthy correspondent relationships with other Report By F06B020 The Caring Bank Page 66 . However. 6. They have trust and feel themselves to be secure while banking with BAL. For example.1.1 COMPASSIONATE CUSTOMER SERVICE The officers of BAL are considered as one of the most able professionals in the banking world (some belong to BCCI). 6. where the customers can safely keep their money as long as they want.2 GOODWILL & TRUST As a result of the compassionate and personalized services of the officers.4 FOREIGN TRADE BUSINESS The bank is focusing on Trade Financing. Especially. Circular Road branch for being situated in business and commercial hub of Lahore has second largest volume in trade finance. they have added some local flavor in accordance with their targeted segmented.1. A bank.1.1.3 LOCATION Bank Al-Falah has opened all its branches at commercial areas so that the customers or clients face no problems in reaching to the bank. 6. in Circular Road Branch.1 STRENGTHS Bank Al-Falah is considered to be a very sound bank in the financial circles.

has enabled it to handle the ever-growing trade volumes. 6.6 billion. a new program named ‘banksmart’ will start functioning (it has started functioning in Clifton branch). The expansion program is strategically important to increase customer base and to approach different customer segments. due to the growing business requirements. representing an increase of 92% over the previous year. bankexel is being practiced for this purpose but very soon. During year 2000.1. It is heartening to note that in just three years. Every information regarding the transactions in customers’ deposits has been computerized. there are 10 proposed branches in different cities. whose support in terms of lines of credit extended to the bank.1. the bank handled foreign trade business in excess of PKR 30. The Caring Bank Page 67 Report By F06B020 . which is considered the infancy stage in the industry. And. 6. the bank has increased the branch network from 3 to 23. Towards this pursuit.banks and financial institutions.5 WIDE BRANCH NETWORK Bank Al-Falah’s objective has been to expand its branch network to meet clients’ needs.6 THE COMPUTERIZED SYSTEM BAL has got a reliable and easy to use internal computer system. Currently. BAL has developed excellent business relations with foreign banks.

So I think that the work should be distributed according to their post and capabilities. even more than other commercial banks. so keeping in view these threats. The Caring Bank Page 68 Report By F06B020 . Bank Al-Falah should emphasize more on its advertisement. but any advertisement on electronic media has not been seen. Since. BAL’s major competitor Union Bank Limited has started large media campaign. 6.2 WEAKNESSES Perfection is only the claim of Allah Almighty.2. Similarly. Bank Al-Falah also has some shortcomings that need to be mentioned: 6.6.2 2 PROBLEMS OF EMPLOYEES I observed during my internship that some of the employees were burdened with over work. No other being living or dead can say this for itself.1 ADVERTISEMENT BAL has formulized a lot of products and services for its customers.

which is a very healthy sign. Therefore. Bank can design a universal account like other foreign banks. Information technology is the future. During the last three years. There are many opportunities for the bank and by availing that it can stand amongst the top foreign banks.6. 6. BAL’s deposits have been increasing @ 30%.3. The Caring Bank Page 69 Report By F06B020 . 6. to enhance online facilities. with the commencement of new schemes there can even be a greater increase in its deposits.3.3 GROWTH IN DEPOSITS BAL has introduced a number of financial schemes including special royal accounts. Therefore BAL should emphasize much on IT. These accounts have their unique features (discussed earlier). There are great opportunities for BAL for the expansion of its business. especially the E Banking.2 EXTENSION OF BRANCH NETWORK Bank Al-Falah’s growing business requires an extensive branch network.3 OPPORTUNITIES Bank Al-Falah has grown up its business with a very high pace and it has got tremendous popularity. even with in a very short span of time. 6.3.1 INFORMATION TECHNOLOGY All the opportunities of the 21st century are to be availed in the information technology.

the facts can’t be denied and there might be an adverse impact of such situation.4.6.1 ECONOMIC CONDITIONS Despite the difficult circumstances that confronted the banking sector in particular and the country in general. The SWOT analysis of the bank signifies that its strengths overcome its weaknesses and its opportunities are more than its threats.4 THREATS 6.2 COMPETITORS Bank Al-Falah is facing a strong competition by its major competitors.4. But. The Caring Bank Page 70 Report By F06B020 . This is a positive sign for any organization. Union Bank and Askari Commercial Bank. 6. Bank Al-Falah has been still highly profitable. Business of these banks is also growing with very high pace.

CHAPTER 7 SUMMARY The Caring Bank Page 71 Report By F06B020 .

Successful completion of internship further develops character. Also the products that Bank Al-Falah provides cater to sector of the economy. Experience after BBIT brings a significant edge to individuals like me when seeking career employment. while also increasing the assets and profits of the bank. My foremost objective of this internship project was to apply classroom theory to real work situations. personel qualities ad values. gain an increased awareness of skills. and since its establishment it has aimed to become the leading bank of Pakistan by that provides outstanding services to its customers. as an internee in this organization was very useful. and to gain a richer understanding about them that made me learn more about my chosen field. The bank has seen phenomenal growth in the past few years by opening more branches in the country. attributes. The banking industry is also reaping the fruits of this economic boom by growing rapidly over the past few years. The six week experience. increasing the deposit base. It gave me an opportunity to apply my theoretical knowledge to practical field. The services that Bank Al-Falah provides have a great market penetration not only because of their features but also the profit and markup rates that they charge. It was absolutely an interesting and edifying experience.1 SUMMARY With the development of economies and globalization. Report By F06B020 The Caring Bank Page 72 . exposure to corporate world and its culture is becoming a necessary and valueable experience for college graduates entering the job market.7. There are a number of mergers happening in the economy with foreign investments coming into the banking sector. It has been thirteen years since the establishment of Bank Al-Falah.

and record keeping of accounts i.During my first 2 week’s stay in Bank Al-Falah. While doing my internship. Starting the day with reading newspaper is like religion for all managers. Indeed. maintaining. income from operations and expenses and reporting to the area office about all the operations. After 2 weeks I joined operations department.e. register the return cheques in a register and make OBC schedules. information is a religion for financial organizations. put the official stamps on the different kinds of cheques. where I got familiar with the process of clearing and its types i. I was quite able to understand the operations. One of the foremost advantages is opening up your mind. pay orders and telegraphic transfers. all operation of the branch. I was responsible to collect cheques from the customers that they deposited. determination of interest rate etc. information plays an important role. inward clearing. I experienced that the communication is the key weapon of any manager that could lead him to resolve/explore any conflict / situation with great ease. As part of my internship. outward clearing and intercity. In this department I got the opportunity to make practice of some most important topics of finance that I have learned in my university and to exercise those concepts in real corporate world like amortization table. The The Caring Bank Page 73 Report By F06B020 . It is totally a different category from other departments of those I got experience. The working in this department is quite boring like checking accounts on daily basis is a very hectic job. I experienced the environmental and cultural gloom of corporate world of Pakistan. There are loads of advantages connected with this field.e. I learned about different types of crossing on cheques and about demand drafts. In my last week of internship I was in accounts department where I learned the process of checking. Car finance department keeps an all in all fascination for me. IBC and OBC. Every moment. I realized that this field has more opportunity for career growth.

I think. but also for the employers and IBIT itself. if you are honest. An internship is an excellent way to determine if the industry and the profession is the best career option to pursue. Because in corporate world. there is no substitute for it. people trust you.top management of the bank is always developing strategies that cope with unexpected challenges to deliver products and services more efficiently. it not only helps to establish a pool of potential employees who have demonstrated their abilities. Third is self motivation. you need to just go out there on your own and do your best. and encourages community support for university programs. student feedback can bring a valuable and effective curriculum improvement according to the needs of the ever changing environment. Firstly. but also benefits from introduction of fresh and new ideas. In last I would like to share some of my good experiences and learning that I got familiar with during my stay in Bank Al-Falah. I believe an internship program is not only valuable for a fresh graduate. then it pays off in a year. it does in nine. if it doesn’t pay off in nine. I think many other people rely on others to get motivated. If hard work doesn’t pay off in six months. Second would be hard work. I could say that I found the key to success in corporate world after having my stay in that meadow for six weeks. honesty is one of the primary qualities a man should have to be successful. but you just have to keep toiling away. You just have to toil in there and the results come. I have always been a firm believer in hard work. For employers. The Caring Bank Page 74 Report By F06B020 . for IBIT. increases rapport with community interest. they trust you with their money. On the other side. It also reinforces positive relationships with the business community.

CHAPTER 8 RECOMMENDATIONS The Caring Bank Page 75 Report By F06B020 .

which may include using modern technologies like fiber cables. Also backup links should also be developed.2 WORKSHOPS AND COUNSELING Work shop programs should be conducted in every city. counseling programs should be started for junior executives or new entrants into the bank. 8. Based on my experience & observation regarding the operations and policies of Bank AlFalah. but I learned a lot from this experience.1 RECOMMENDATIONS TO BAL I spent six weeks of my internship in BAL Liberty Market . this was my first experience of working in a banking organization. These workshops should relate to all aspects of banking and may also be conducted with other banks as a joint program. The Caring Bank Page 76 Report By F06B020 . with professional having the knowledge to maintain a secured connection with other banks. for all Bank Al-Falah employees.1 TECHNOLOGICAL ADVANCEMENTS Bank Al-Falah should develop a modern connectivity architecture to effectively maintain an online connection of the branch with other branches and also the ATM link.1. Also scheduled backups of data should be done with in the bank.1. I felt myself to be a part of BAL. I have tried to stipulate some recommendations for further improvement. routers etc. Even. Also a proper IT department should be established in all branches. Lahore. 8. rather than just two centers. During these six weeks. introducing them to their prospects in this industry.8. Also as parts of the human resource training.

1. 8. A priority banking department should be developed so as to give even more exclusive and customized services to high end customers with large deposit accounts.3 INCENTIVES Incentive schemes should be developed for the employees that can help motivate them. so that they can actively find prospect customers to take up products from Bank Al-Falah. special teams should be developed that include professional from all departments of the banks to come with ideas. which my include sorting of cheques. Job rotation programs to enhance the skills of employees. Also Business Development Department should be developed in all branches. Introducing employee awards at branch and regional levels. This process will increase the The Caring Bank Page 77 Report By F06B020 . For this purpose.4 PRIORITY BANKING AND BUSINESS DEVELOPMENT DEPARTMENT There is no priority banking department at Bank Al-Falah. 8. phone banking etc.The lower staff employed at Bank Al-Falah should also be given a chance to succeed in life by training them in different simple jobs at the bank.1. which might include:     Personal loans and car financing facilities for all ranks of employees.5 INNOVATIVE PRODUCTS New and innovative products should be introduced by Bank Al-Falah. like that of other bank.1. Scholarship programs for all employees. 8. like other bank such as Citibank and Standard Chartered Bank develops for their customer.

number of ideas generated and even produce innovative products for the bank that might give them the edge.7 PLACEMENTS OF EMPLOYEES There are some departments in the bank that do not have enough employees. so as to give employees a relaxing environment when they have a break. while some have more than needed. All this creates inefficiencies and so the operations manager should look at the department of the branch and see where inefficiencies lie.6 MARKETING BAL has formulized a lot of products and services for its customers.1.So. The Caring Bank Page 78 Report By F06B020 . I think that there should be a proper marketing department and advertisement expenditures of the bank should also be increased to improve its visibility and to publicize its financial schemes. in consultation of with the heads of the departments and hire individuals where there are less employees or rotate employees from other departments. but any advertisement on electronic media has not been seen. 8. 8. 8.8 AMENITIES IN BRANCH There should be a prayer room developed in all branches as many employees want to pray.1. but do not have the proper place to do it. Also work like sorting. which takes up a lot of space should be done in a separate place and amenities like television and internet connection should be placed in the common room. even more than other commercial banks.1.

Their exposure to the real business world will be broadened. In this way the students who are still studying will have the knowledge of jobs. the faculty as well as the students will know that what is required in the business world now-a-days. 8. a minimum requirement of 6 week is not sufficient for a promising graduate to really mingle in the shade of corporate world.2 RECOMMENDATIONS TO INSTITUTE OF BUSINESS AND INFORMATION TECHNOLOGY Institute of business and information technology is undoubtedly a first-rate school in its field.2. One need to b equipped with if one The Caring Bank Page 79 Report By F06B020 .8.e. Graduates can not truly avail the novel benefit of the immense opportunity of internship to learn in such a short span of time i. Seminars should b held in which the business representatives should visit our institution.2. So I advocate that internship program must b of a minimum duration of 3 months so that our youth could find a genuine path of its career development.1 INTERNSHIP DURATION Once the foundation has been set at university. Their contacts will be increased and when they would need guidance they can get it from their own seniors. In this way. Presently. Its MBIT & BBIT program are meticulously designed to meet competitive international standards of modern world. 8. The course has optimal blend of IT tolls and management as science. it is necessary to have an experience of an internship to strike all the different things learned. 6 weeks only.2 SEMINARS There should be proper arrangement through which the students of senior batches who have passed out should come and meet with junior students.

8. They should know that what subjects are taught to us and what is the value of our degree.2. it provides with new prospects and unlocks the doors of employments.4 ADVANCED COURSES In my view. The students fill what they want from a teacher but it is rarely taken into notice.wants to get better job. So there is a need to give exposure of the course International Finance to our BBIT students. Moreover.2. It is a perfect tool to cater to the students needs if properly used. The Caring Bank Page 80 Report By F06B020 . the courses presently taught are not quite enough to fulfill the continually changing needs of the business world. like course Entrepreneurship. With the increase in the business of organizations and their business approach. IBIT must consider other advanced courses for auxiliary improvement of its curriculum.3 TEACHER’S EVALUATION The teacher’s evaluation should be taken seriously. In today’s world. 8. the business organizations will also know the caliber of our students. organizations are now not bound to the borders only.

connected with this field. In last I would like to share some of my good experiences and learning that I got familiar with during my stay in Bank Al-Falah. they trust you with their money. I could say that I found the key to success in corporate world after having my stay in that meadow for six weeks. information plays an important role. increases rapport with community interest. honesty is one of the primary qualities a man should have to be successful. student feedback can bring a valuable and effective curriculum improvement according to the needs of the ever changing environment. For employers. Firstly. and encourages community support for university programs. The Caring Bank F06B020 Page 81 Report By . it not only helps to establish a pool of potential employees who have demonstrated their abilities. but also for the employers and IBIT itself. Indeed. information is a religion for financial organizations. One of the foremost advantages is opening up your mind. I believe an internship program is not only valuable for a fresh graduate. On the other side. The top management of the bank is always developing strategies that cope with unexpected challenges to deliver products and services more efficiently. Because in corporate world. An internship is an excellent way to determine if the industry and the profession is the best career option to pursue. I think. It also reinforces positive relationships with the business community. for IBIT. Every moment. but also benefits from introduction of fresh and new ideas. people trust you. if you are honest. Starting the day with reading newspaper is like religion for all managers.

there is no substitute for it. it does in nine. but you just have to keep toiling away. you need to just go out there on your own and do your best. CHAPTER 8 RECOMMENDATIONS The Caring Bank F06B020 Page 82 Report By . Third is self motivation. if it doesn’t pay off in nine. If hard work doesn’t pay off in six months. then it pays off in a year. I think many other people rely on others to get motivated. I have always been a firm believer in hard work.Second would be hard work. You just have to toil in there and the results come.

8. Also a proper IT department should be established in all branches. I have tried to stipulate some recommendations for further improvement.8. Based on my experience & observation regarding the operations and policies of Bank Al-Falah. Even. During these six weeks. but I learned a lot from this experience. with professional having the knowledge to maintain a secured connection The Caring Bank F06B020 Page 83 Report By .1 RECOMMENDATIONS TO BAL I spent six weeks of my internship in BAL Liberty Market . Also backup links should also be developed. I felt myself to be a part of BAL. Lahore. this was my first experience of working in a banking organization. which may include using modern technologies like fiber cables.1 TECHNOLOGICAL ADVANCEMENTS Bank Al-Falah should develop a modern connectivity architecture to effectively maintain an online connection of the branch with other branches and also the ATM link.1. routers etc.

Job rotation programs to enhance the skills of employees. Introducing employee awards at branch and regional levels. Also scheduled backups of data should be done with in the bank. Also as parts of the human resource training. rather than just two centers. These workshops should relate to all aspects of banking and may also be conducted with other banks as a joint program. phone banking etc.with other banks. introducing them to their prospects in this industry.3 INCENTIVES Incentive schemes should be developed for the employees that can help motivate them. The lower staff employed at Bank Al-Falah should also be given a chance to succeed in life by training them in different simple jobs at the bank. which might include: • • • • Personal loans and car financing facilities for all ranks of employees.1. 8. 8. Scholarship programs for all employees. for all Bank Al-Falah employees. counseling programs should be started for junior executives or new entrants into the bank.1. which my include sorting of cheques.4 PRIORITY BANKING AND BUSINESS DEVELOPMENT DEPARTMENT The Caring Bank F06B020 Page 84 Report By . 8.1.2 WORKSHOPS AND COUNSELING Work shop programs should be conducted in every city.

like that of other bank.1. 8. like other bank such as Citibank and Standard Chartered Bank develops for their customer.7 PLACEMENTS OF EMPLOYEES There are some departments in the bank that do not have enough employees.5 INNOVATIVE PRODUCTS New and innovative products should be introduced by Bank Al-Falah.6 MARKETING BAL has formulized a lot of products and services for its customers. Also Business Development Department should be developed in all branches. even more than other commercial banks. so that they can actively find prospect customers to take up products from Bank AlFalah.1.1.There is no priority banking department at Bank Al-Falah. 8. For this purpose. but any advertisement on electronic media has not been seen. special teams should be developed that include professional from all departments of the banks to come with ideas. I think that there should be a proper marketing department and advertisement expenditures of the bank should also be increased to improve its visibility and to publicize its financial schemes. while some have more than needed. This process will increase the number of ideas generated and even produce innovative products for the bank that might give them the edge. All this creates The Caring Bank F06B020 Page 85 Report By . 8.So. A priority banking department should be developed so as to give even more exclusive and customized services to high end customers with large deposit accounts.

Also work like sorting. but do not have the proper place to do it. 8.inefficiencies and so the operations manager should look at the department of the branch and see where inefficiencies lie.2. which takes up a lot of space should be done in a separate place and amenities like television and internet connection should be placed in the common room. in consultation of with the heads of the departments and hire individuals where there are less employees or rotate employees from other departments.2 RECOMMENDATIONS TO INSTITUTE OF BUSINESS AND INFORMATION TECHNOLOGY Institute of business and information technology is undoubtedly a firstrate school in its field. so as to give employees a relaxing environment when they have a break. 8. Its MBIT & BBIT program are meticulously designed to meet competitive international standards of modern world.8 AMENITIES IN BRANCH There should be a prayer room developed in all branches as many employees want to pray.1. 8.1 INTERNSHIP DURATION The Caring Bank F06B020 Page 86 Report By . The course has optimal blend of IT tolls and management as science.

a minimum requirement of 6 week is not sufficient for a promising graduate to really mingle in the shade of corporate world.3 TEACHER’S EVALUATION The Caring Bank F06B020 Page 87 Report By . One need to b equipped with if one wants to get better job. Moreover. 8. 6 weeks only. Graduates can not truly avail the novel benefit of the immense opportunity of internship to learn in such a short span of time i. In this way. So I advocate that internship program must b of a minimum duration of 3 months so that our youth could find a genuine path of its career development. 8. Their contacts will be increased and when they would need guidance they can get it from their own seniors.2.Once the foundation has been set at university. it is necessary to have an experience of an internship to strike all the different things learned. Their exposure to the real business world will be broadened. Presently. the business organizations will also know the caliber of our students. They should know that what subjects are taught to us and what is the value of our degree. Seminars should b held in which the business representatives should visit our institution.2 SEMINARS There should be proper arrangement through which the students of senior batches who have passed out should come and meet with junior students.2. In this way the students who are still studying will have the knowledge of jobs. the faculty as well as the students will know that what is required in the business world now-a-days.e.

4 ADVANCED COURSES In my view. the courses presently taught are not quite enough to fulfill the continually changing needs of the business world.The teacher’s evaluation should be taken seriously.2. 8. So there is a need to give exposure of the course International Finance to our BBIT students. The students fill what they want from a teacher but it is rarely taken into notice. IBIT must consider other advanced courses for auxiliary improvement of its curriculum. organizations are now not bound to the borders only. With the increase in the business of organizations and their business approach. It is a perfect tool to cater to the students needs if properly used. it provides with new prospects and unlocks the doors of employments. like course Entrepreneurship. The Caring Bank F06B020 Page 88 Report By . In today’s world.

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