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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formed in September 1948. Its banking operations commenced from November 1st. 1997 as a public limited company under the Companies Ordinance 1984. 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.By following the partition. BCCI was the 7th largest bank in the world. 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. The estimated assets of BCCI were 20 billion dollars. HCEB was later acquired (through the process of privatization) by the Abu Dubai Group. The operations of the Bank were in 70 different countries of the World. the Bank of England and International Liquidators accused BCCI of being involved in money laundering to the tune of 1. A multi-national conglomerate based in Luxembourg and Grand Cayman. 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. in 1997 and its 70% The Caring Bank Page 5 Report By F06B020 . in 1992 the operations of BCCI in Pakistan were acquired by Habib Bank Ltd. 1997. In July 1991. Upon closing down of BCCI. Bank of Bahawalpur in October 1948 and National Bank of Pakistan in 1949.54 billion dollars. 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. 1. Consequently three banks were established which include Muslim Commercial Bank Ltd. 1948.3 BANK AL-FALAH LIMITED Bank Al-Falah Limited was incorporated on June 21st. and were run as a wholly owned subsidiary by the name of Habib Credit & Exchange Bank (HCEB). Bank Al-Falah Limited started its life as “Pakistan Operation” of BCCI.

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

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

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. thus providing value to the stakeholders of the bank The Caring Bank Page 9 Report By F06B020 . establishes a competitive advantage and enhances profitability.6 MISSION MISSION “To develop and deliver the most innovative products. manage customers experience.

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

Mahmood Ashraf Mr. Ather Shehab Mr. Parvez A. Abdullah K. M. basher A. Nadeem Ul Haq Mr. Tahir 1.1. Wahid Dada Mr.7. Sirajuddin Aziz 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 1.7. Ijaz Farooq Mr. Zahid Ali H. Al Askari Mr. Falak Sher Mr. Tariq Mir Mr.3 BOARD ADVISORY COMMITTEE     Mr. Ganpat Singhvi Mr. Talib Rizvi Mr. Ferguson & Company Chartered Accountants Page 11 Report By F06B020 The Caring Bank .F. Arfa Waheed Malik Mr. A.4 AUDITORS  A.7. Imtiaz Ahmad Sheikh Mr. Mudassar Aqil Mr. Bakhtiar Khawaja Mr.2 MANAGEMENT     Mr. Mohammad Yousuf Mr. Mohammad Iqbal Saifee Mr. Shahid Mr. Adil Rashid Mr. Shakil Sadiq Mr. Omer Z. Al Mutawa Mr. Hamid Ashraf Mr. Jamall Mr.

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

1. aid in evaluation.7. The Caring Bank Page 13 Report By F06B020 .7. agricultural and socio economic processes through the active participation of private and public sector in the country. focus coordination. organizing.6 BANK AL-FALAH’S SLOGAN The Caring Bank 1. Objectives are essential for organizational success because they state direction. 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. create synergy.  Leveraging BAL Investments in the IT field.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. Bank Al-Falah Limited objectives are as follows: To create maximum economic value for share holders through a constant relationship focuses on financial services. reveal priorities. motivating.  Ongoing assessment of opportunities for customers. Achievement is nothing without target  Time is our most valuable asset  Performance is nothing without ability to measure it  Every drop counts 1.  To promote industrial.7. and controlling activities. and provide a basis for effective planning.

and cooperation and that each customer deserves nothing less than full attention and available resources to meet their financial objectives. compared to the exalted banking standards. 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. personalized service quality has served as Bank Al-Falah's unique signature since inception and continues to separate it from other financial institutions.7. In order to achieve its goals of creating a sound base and presence of efficient modern banking system. Management recognizes that a banking relationship requires compatibility. 4. Bank is in the process of getting to know customers by name and understand their business and personal financial needs. Today the Bank is well-positioned to provide appropriate banking services to customers. while applying leading technologies. Core value and corporate culture is based on the belief that superior personalized service is the most important product. The Bank provides a full range of banking services to corporate clients.9 STRATEGIES Bank Al-Falah has formulated certain sets of strategies to enable it to achieve its goals and objectives. has built up a strong customer base. The main focus is building relationships and being known by the way they do business. The Caring Bank Page 14 Report By F06B020 . Islamabad and other cities of Pakistan. Bank Al-Falah has started operation of Automated Teller Machines in all the major areas like Karachi. backed by a strong Abu Dhabi Group and inspired by the vision of its Board and Management. Although still in its infancy. Bank Al-Falah. 3. This one-on-one. 2. Lahore. communication. These strategies are mentioned below: 1.1.

1. Entity Rating for long term and A1+ (A one plus) for the short term.000) The paid up capital is Rs.1. The Management focuses its attention on making informed and feasible economic decisions. Managers. bringing better returns and more profitability for investors and customers. 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. 7. The Bank Al-Falah team comprises of some of the most highly skilled and professional financial experts in banking industry.000. The ratings of first and second and third unsecured listed and subordinated TFC issues of PKR 650 million. (100.1000 Million.600 Million (600. a premier rating agency of the country. The Caring Bank Page 15 Report By F06B020 .10 each issued for cash 1. To acquire the reputation and status of bank which operates on international standard.5.(Double A minus). PKR 1. Al-Falah Bank was to get the credit rating of Pakistan Credit Rating Agency. These ratings denote a very low expectation of credit risk. respectively. which gave it the AA. strong capacity for timely payment of financial commitments in the long term and by highest capacity for timely repayment in the short term.10 SHARE CAPITAL    The authorized capital of bank Al-Falah is Rs. has rated the bank ‘AA’ (double A).000) Ordinary share of Rs. 6.325 million have been maintained at AA.000.250 million and Rs. lenders and trust advisors offer the unique perspective of knowing and understanding in the local economy.and A1+ in the long term and short term respectively.8 BAL CREDIT RATING PACRA (Pakistan Credit Rating Agency).7.

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

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 1.10.1 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 PRODUCT & SERVICES With the mission to provide all-encompassing banking services to the customers.1. Balance Transfer Facility. Bank Al-Falah has a uniquely defined menu of financial products. 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 . Loan against Car.

2 HOME FINANCING Major features of Bank Alfalh Home Financing are Lowest Mark-up.10.There are 3 major types of AlFalah credit cards.  Financing Limit  Tenure : : uptoRs.000/upto 20Years 30% Borrower / 70% Bank  Equity Participation : 1. Quick Processing. It is accepted at nearly 30 million merchants and 870.10.000.1. 1. meals and much more. hotels business establishments and all over the country and abroad. entertainment.4 CREDITS CARDS Bank Al-Falah Visa Card is everywhere and globally acce pted and welcomed at locations displaying the VISA logo. Home Balance Transfer Facility”.000 ATMs in more than 150 countries around the globe and over 10.000 establishments in Pakistan. travel. travel agents. The Caring Bank Page 18 Report By F06B020 .10. Home Improver. Home Construct. 10.3 RUPEE TRAVELERS CHEQUES Rupee Travelers Cheques are as good as cash and are accepted at the major shops. It has been bifurcated in terms of “Home Buyer. Multiple Repayment Options and Free Valuation. 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. Al-Falah VISA pays for shopping.

worldwide. 1.1.10.10.10. 1.1 AL-FALAH PLATINUM It is accepted at nearly 29 million locations in more than 150 countries around the globe and at over 27.6 ON LINE BANKING To provide enhanced and value added products to customer bank is constantly striving for additional facilities.000 establishments in Pakistan 1.3 GOLD & SILVER CARD A perfect card combination for all segments of salaried & professional individuals. making it the most acceptable Debit Card available in Pakistan.4.10.000 ATMs and 13 million retail outlets around the world.10. 1.2 TITANIUM CARD Titanium MasterCard is your partner everywhere and is globally accepted and welcomed at locations displaying the MasterCard logo.4. 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. Bank provide fully automated on-line Report By F06B020 The Caring Bank Page 19 . at millions of retail shops and ATMs. the first Visa Electron International Debit Card which gives an unlimited access to current / savings account with a simple swipe.4.5 DEBIT CARDS Bank Al-Falah Limited presents Al-Falah HilalCard.

account statements. balance inquiries. funds transfer.10. product information and exchange rate.  Loaning against securities  Letter of Credit  Letter of Guarantee  Demand Finance  Cash Finance The Caring Bank Page 20 Report By F06B020 . statement requests. Islamic Banking has launched following products. This system allows the banking facilities such as cash withdrawls.10.8 ISLAMIC BANKING A separate division is a recently initiated.10.9 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. cash deposits. a) Al-Falah Masharaka Homes b) Murabaha Finance c) Aflalah Car Ijarah 1. which will increase to 50 by the year 2007. It offers Shariah Compliant products through a network of five branches.telephone banking facilities to its customers enabling them to carry out banking transactions like balance inquiries. 1. All ATMs are linked through a state-of-theart Satellite Based Communication System which offers 24 hours real time service. 1. which operates as separate branch.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.

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

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

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. Bank borrowing is mostly in form of deposits. These deposits are lent out to different parties such deposit creation is done through open an account in the bank. Faisal Shahzad. 2. He offers a helping hand to all his subordinates and other department fellows.1 CURRENT ACCOUNT Current Accounts are non interest bearing accounts that have a minimum account opening requirement of Rs 10. incharge of this department. He deals and resolves conflicts with an effective way of communication and negotiation. 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. Mr. 2. No zakat is deducted on the accounts balance. The Caring Bank Page 23 Report By F06B020 .2. There is a great deal of value placed on openness and directness.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 was very co-operative person .2 MAJOR DEPOSIT ACCOUNT PRODUCTS Borrowing funds from different sources has become an essential feature of today’s business enterprises.000. 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.His management style is of collaborative type.

2 PROFIT& LOSS SAVING ACCOUNT Profit& Loss saving accounts can be opened with a minimum balance requirement of Rs 5.50. Maximum two withdrawals and deposits are allowed by cheque.50% Negotiable 2.000 and profit is credited on a half yearly basis. There is no minimum balance requirement for BBA. however initial deposit must be Rs 1000. as profit is credited on a monthly basis.2.50% 3. 2.3 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.999 Rs. with a maximum limit of Rs 1 million. however can be jointly opened by individuals.999.1. Profit and loss saving account cannot be opened by a business corporation. 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.000 to 999. Profits are paid at 2% on all account balances.2.000.000. while there is no restriction on ATM withdrawals.000 to 4.000.2. The basic aim of this account is that the higher the balance the higher the return. The Caring Bank Page 24 Report By F06B020 .5.4 KIFAYAT ACCOUNT Kifayat account is another saving account product that can be opened with a minimum balance requirement of Rs 10. 2.2.000. 2.2. The profit paid to account holders is as follows: Amount From Rs.4 ROYAL PROFIT ACCOUNT Royal profit accounts are opened with a minimum balance requirement of Rs 50.999 From Rs.

Profits are paid at 10% pa.6 AL-FALAH EDUCATION Al-Falah education is a one year TDR that can be purchased by people having school going children’s. KK Accounts have strategically been tailored into 3 different tiers. credited on a monthly basis. 2. after the expiry of original period. Al-Falah KK Account can be opened with minimum deposit requirement of Rs 25.000. paid at maturity and gives an additional advantage of giving monthly school fee of the children’s if the breadwinner of the family dies. while it is credited on quarterly basis.Profit is calculated on a monthly basis. 2. A person can purchase a unit for Rs 100. with a maximum of 3 years. allowing you to The Caring Bank Page 25 Report By F06B020 . This product will provide you the opportunity to enjoy free services alongside state of the art banking facilities. This TDR pays 7%.2. while the degree of free services will be dependent on the minimum thresholds of respective tier. with a maximum limit of Rs 15 million. 2.a structured. Bank Al-Falah pays 7% pa interest on Kifayat Account. tier-based current account that caters to your banking needs & aspirations.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 100.7 AL-FALAH KAMYAB KAROBAR Bank Al-Falah presents Al-Falah Kamyab Karobar (KK) .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. branded. Other features of this account include free personal accident insurance and automatic renewal for another 3 years.2.2.000.000.

8 FOREIGN CURRECY ACCOUNTS/DEPOSITS Residents and non-residents Pakistanis’ as well as foreigners can open foreign currency accounts. The three tiers are as following: a. Platinum The unique tier based structure ensures that you can avail smooth & cost efficient facilities based on your current level of deposits i. The foreign currency The Caring Bank Page 26 Report By F06B020 . The bank may decline to accept the foreign currency notes for deposit in foreign currency account. as prescribed by the State Bank of Pakistan from time to time. Silver b. 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. Higher the deposit. Withdrawals shall be subjected to the availability of particular foreign currency with the bank and the prevailing directives of the state bank of Pakistan. No interest will be paid on FC accounts. including Foreign Exchange control Regulations and directives of state bank of Pakistan.2. 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. Foreign currency accounts can be opened as saving as well as current accounts. Gold c.e. higher the number of free services.choose the allotted free service to your benefit. This account is maintained and opened subjected to local laws and regulations in force from time to time.

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

Page 28 Report By F06B020 The Caring Bank .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.000/. 000/.  Various sizes to choose from small.4. large and extra large. 2. Two photograph with thumb impression in case of illiterate customers.000/-in a saving account or at managers discretion considering the overall relationship of the valued customer. Vernacular form if Signature in URDU. 000/- Locker rent is waived for customers maintaining a deposit of Rs.to Rs.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.in a current account or US $50.1.4 ACCOUNT OPENING REQUIREMENTS 2. Annual locker rent ranges from Rs.2 million or above in a current account or US $25. medium. Introduction of BAL account holder.4.

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

liberty market branch along with the signing instructions of Authorized signatories to operate account. 2. Certified Copy of by Laws. which must be signed by the trust Secretary. List of trustees duly certified. NICs of all the trustees. .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. it is called Dormant Account. Certificate of registration.5 TRUST/ ASSOCIATION/ CLUB/ NGO ACCOUNT       Certified of trust deed. making their needs fulfilled and make them feel comfortable in the branch and to let then feel that “They Really Do Care”. 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. The personnel employed in this department really full fills all the required ingredients for the respective designated posts.2.  This resolution must bear Trust Rubber Stamp. Major duties of Account Opening Officer include:   Opening new account Maintaining old accounts Page 30 Report By F06B020 The Caring Bank . Resolution attested by company secretary resolving to open an account in BAL.

which is really a big advantage for the customers. Withdrawals Hold mail facility Stop payments Bank statements and bank balance 2. 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.1 OPENING NEW ACCOUNT First of all when a new customer walks into the bank and wants to open an account.5. 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.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 .5. he/she is asked to fill a Bank Al-Falah account opening form. it is asked by the concerning branch to provide. which is confirmed from there and if there is any document missing in the form.      Issuance of cheque books Processing and issuing ATM / Debit / Hilal Cards. 2. 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.

This is the confirmation and proof that the customer is holding an account in the BAL. the customer receives a “Letter of Thanks” from the Head Office Karachi. The cheque book is received by the respective branch with in 1-2 days outmost.they are continuously monitored and updated by the department heads and assisting personnel. 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. You just have to enter your CNIC. If the customer is old and needs a new cheque book the process is almost the same. 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. 2. 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. Address and initialize it and you receive the card at your door step. 2.4 ATM / DEBIT CARDS In the terminology of the BAL debit or ATM cards are known as Hillal Cards. When you are filling the form for opening an account then there is a leaflet which is actually the application for the Hillal card.5. name.3 ISSUANCE OF THE CHEQUE BOOK When a new account is opened. 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.5. The process for the Hillal cards is very simple. The Caring Bank Page 32 Report By F06B020 .

the customer shall promptly notify the bank in writing.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 bank shall not be liable for any loss or damage due to such errors/mistake. the customer shall himself be solely responsible for any loss arising out of any fraudulent use of lost or stolen cheque book /cheque leaf.5. In case of loss or theft of the cheque book or any cheque leaf. The Caring Bank Page 33 Report By F06B020 . 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 customer shall ensure safekeeping of the cheque book and shall not allow access the cheque book to any unauthorized person.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. 2. 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. failing which the customer shall have no right to contest the correctness of any entries made there in. The bank shall ensure that debit and credit entries are correctly recorded in the account.5. if fails to give such notice to the bank. but in case of any mistake or error.

5. The Caring Bank Page 34 Report By F06B020 . relating to the time period for which the bank statement is needed.7 HOLD MAIL FACILITY Upon written request of the customer.2. The process for stopping payment. all communications and statements of the account relating to the customers account. or his duly authorized agent. which is same as a cheque book requisition form and an indemnity form. then that customer will have to come to the bank and firstly report the loss and then stop payment. 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 stopping payment. 2. I was to assist a customer towards the whole process of 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. after the customer tells that he has lost is cheque book is that he fills a ‘Form B’. Customers often come and want their bank statements and have to fill a form. As part of my internship.5.9 BANK STATEMENT AND BANK BALANCE A bank statement tells the whole activity of a bank account over a period of time. 2. by telling the series of cheque he has lost. the customer is guaranteed that no illegal payment is made from their account.The customer accepts all risks and responsibilities in this regard.5.8 STOP PAYMENT If a customer looses their cheque book. stating no responsibility on behalf of the bank if any illegal payment is made before the time of announcing a cheque book lost.

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. The Caring Bank Page 35 Report By F06B020 .As part of my internship. 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’.

6 CONCLUSION During my 2 week stay in Bank Al-Falah. 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. issuance of cheque book. customer dealing. I helped my supervisor in collection of zakat declaration forms from customers which were needed in the process of zakat deduction. I learned how to operate bank smart. I experienced the environmental and cultural gloom of corporate world of Pakistan.2. The Caring Bank Page 36 Report By F06B020 . balance statement. dormant accounts. I learned the process of opening and closing of different types of account. I was quite able to understand the operations.

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

Hussnain Shah.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. Intution is his hallmark.1 ABOUT THE MANAGER Hussnain Shah Operations Officer Bank AL-FALAH limited Mr. Flexibility and versatility are valuable qualities of Mr. He with keen insight is often able to sense what others are thinking and feeling. Beneath the flexibility and versatility he has ability to be composed and never over-reacted with everyone around. without having a draw attention to it. He deals and resolves conflicts with an effective way of communication and negotiation. He is an excellent manager who lives from a knowledge base. they are able to respond perfectly to another through his deeper understanding. 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. hussnain Shah is one of those managers who are not strictly a follower of the syndrome of high status.3. consequently.

Cheques are received by the operations department from NIFT 2. all these jobs are done by different departments. The process for inward clearing is as follows: 1. all these jobs are done by one department. stating the reasons with them.2. The Caring Bank Page 39 Report By F06B020 . but as Bank Al-Falah Liberty Market is a small branch. Operations department is sometimes also known as the Transact department. then the officer will post these cheques in the system by debiting the customer account. then the officer will mark the cheques as a return.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 3.1. If no fault is found.2. 4. If any fault is found. The bank officer verifies all particulars from the instruments and the system for sufficient balance etc. known as operations. 3. The particular of the returned cheques are entered in the ‘O/W return of inward clearing’ register and returned to NIFT. 3.Bank Al-Falah account holder.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.In large branches of Bank Al-Falah.

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. it is credited to the Bank Al-Falah account via the online transfer software. Cheques are received by the operations department of Bank Al-Falah Liberty Market 2. 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 . the posted entries are reversed and the cheque is returned to the customer who presented it and is recorded in the cheque return register.2. however should have an account in the Islamabad/Rawalpindi area. The person.1. 3.3. The process for online clearing is as follows: 1. Clearing stamps are affixed on the cFheque and sent to the other bank via NIFT.2.1.1. The customer in favor of whom the cheque is drawn is credited 3. The process for outward clearing is as follows: 1. If any cheque returns the next days as a returned.2. The cheque is sent as an outward clearing via NIFT 2. who had drawn this cheque. 3.2 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.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. When the cheque is cleared.

which shows the cheque numbers. Entries of all OBC cheques are written in an OBC register. 3. There are two types of transfers: 1. Online Transfers 3. An OBC letter is printed. 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 branch drawn on and amount.2 TRANSFERS Transfers are conducted by Bank Al-Falah Liberty Market Branch.2.     The officer affixes the OBC stamp on the cheques and writes its individual number from the OBC register.2. using its software ‘Bank Smart’.2. Officer of the bank receives the cheque and determine if the cheque is an internal transfer by looking at the branch code. 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. The process for internal transfer is as follows: 1. 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. 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. Internal Transfers 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.2. When supervised. When supervised. giving in the details to which account the money is being transferred. 3. 2. 3. the cheque will be affixed with the official stamps and kept with the bank.4. Posts entries by debiting the account of the cheque. which are as follows:   Pay order: Used to transfer money within the city Demand Draft: Used to transfer money outside the city 3. The bank officer collects the cheque from the depositors. the cheque will be affixed with the official stamps and kept with the bank. The process for online transfer is as follows: 1.3.3 REMITTANCES There are two main types of instruments that are used to transfer money.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.2. Sends the cheque for supervision to the operations manager 5. Verify’s if the accounts are online and need to be transferred online 3.2 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. 4.2. the amount etc and The Caring Bank Page 42 Report By F06B020 . while crediting the account on the slip attached with the cheque.2.

the entries passed are: Pay order payable Customer A/c 3. 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 .2.attach a cheque to pay for the pay order. Pay orders can also be made through cash but mainly it is made through cheque. The customer will fill the details in a DD application form. The officer checks all the details in the application. There are two types of situations for transfer of money through demand drafts: 3. and will attach a cheque or pay cash as he wish.3.2 DEMAND DRAFT Demand Draft is another way in which customers can transfer money outside the city.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.3.2.2.

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. When the bank receives the advice.2.3. 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.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. through SWIFT. Bank Al-Falah for foreign exchange transfers takes the help of Citi Bank for routing.3.2. Procedure for Foreign Transfers The customer will come to Citibank to transfer money to Pakistan.2 INWARD DD’S This is the procedure adopted when the issuing branch sends copy of the instrument as an advice. The entries are: Citibank A/c Bank Al-Falah Nostro A/c (khi) The Caring Bank Page 44 Report By F06B020 .

with an online account can withdraw or deposit money to his account from the Liberty Market branch.2. 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. Nostro A/c Bank Al-Falah Demand A/c Now when the customer will come to take his money. The first is when a Bank AlFalah Liberty Market account holder either deposits or withdraws cash. The Caring Bank Page 45 Report By F06B020 . 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.

pay orders and telegraphic transfers. put the official stamps on the different kinds of cheques. The Caring Bank Page 46 Report By F06B020 . IBC and OBC.e. I got familiar with the process of clearing and its types i.3.3 CONCLUSION My third and fourth week was full of learning and understanding of the functions and operations of the clearing department. I learned about different types of crossing on cheques and about demand drafts. outward clearing and intercity. inward clearing. register the return cheques in a register and make OBC schedules. As part of my internship. I was responsible to collect cheques from the customers that they deposited.

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

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 a kind manager who is full of enthusiasm. He is well committed to his goals and expresses this commitment through optimism.4.2 AL-FALAH CAR FINANCE Car financing has become one of the most selling financial products of almost all banks.1 ABOUT THE MANAGER Kashif Rana Manager Car Finance Bank AL-FALAH limited In car finance department I was under supervision of Mr. with a bounce in their step. affordable and flexible installments. Flexibility and versatility are valuable qualities of Mr. 4. Beneath the flexibility and versatility he has ability to b composed and never over-reacted with everyone around. Bank Al-Falah offers you the most convenient and affordable loans in Pakistan. Flexibility and versatility are path ways to speedy responsiveness of Mr. Kashif Rana. Kashif Rana. with a can-do attitude. There is a special software for leasing or financing your car. 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.Small actions lead to big picture. that gets The Caring Bank Page 48 Report By F06B020 . Whether its funds for a home renovation or purchase of your first car. Versatility implies an openness. this openness allows him to quickly change on time when necessary. Al-Falah car financing is specially designed for you with easy. manager of this department. Kashif. he is skillful at doing both: thinking big while also paying attention to details.

to Rs. Some of the features of Bank Al-Falah Car Financing are:        Tenure of 1-5 years Minimum down payment.2.000.50% 5Yr 15.000. Financing of all brand new locally assembled vehicles.starting from 10% of car value 5 % extra at time of pre-mature payment.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.200.50% 3Yr 15.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.00% 2Yr 14.50% 4. The Caring Bank Page 49 Report By F06B020 .    Tenor period ranging from 1 to 7 years.00% 4Yr 15. 4. 000/. Financing limit ranging between Rs. 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.

 There is a new policy that Suzuki Mehran must are issued only with tracker and the insurance + Tracker rate of 5.2 CORPORATE & INDIVIDUAL CAR LEASING BAL’s recently introduced car leasing facility for individuals and corporate sector has set now dimensions for the product. Following are the most commonly used insurance companies which are offered by the BAL.9 %  Various car types are insured at a different rate. Now you are provide with the option of either to get the vehicle leased or financed. Pay year insurance premium in advance (at the time of down payment) and remaining in the subsequent equal monthly installment.  It is meant for increased safety.3 INSURANCE Renowned and reliable insurance companies are offering the competitive rates of insurance. but for cars above 2.4.5 % 3.000 cc trackers are used for which extra insurance are provided.5 % 5.5 % P.2. 4.A. The Caring Bank Page 50 Report By F06B020 . NAME OF COMPANY RATE OF INSURANCES Adam Jee Insurance EFU Atlas Insurance 4.2. Rates are varied for different insurance companies: Al-Falah refers to various companies.

4.9 % 4. so that the customer doesn’t can easily pay back the loan.2. BAL marks a lien and this The Caring Bank Page 51 Report By F06B020 . For example is a customer can not pay heavy installments then the there can be a easy installment plan with high down payment. (per annum). on the registration book. 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. 4. When the car is delivered to the customer. as the duration of financing increases. This markup is only for the customers who want to get its car financed or leased for One year only.6 SECURITY Hypothecation of vehicle in the name of the Bank Al-Falah Limited. for the car leased for 7 years (Suzuki Liana) the markup is 16 % P. BAL is offering a very comfortable and affordable repayment plans that can be customized with the requirement of every customer’s need.9 % 12.5 REPAYMENT Easily affordable installments on monthly basis in the form of postdated cheques will set you free of depositing your rental cheques every month.5%.2.A. Bank Al-Falah's mark-up rates are as follows: Pak Suzuki Cars All other local assembled Cars Imported Cars 11.9 % 12. BAL has captivated a major market share and so is the plan for future.4 MARK UP Offering lowest rate of markup of 13. Another facility BAL is giving is that. the markup increases as well.2.

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

determination of interest rate etc. The Caring Bank Page 57 Report By F06B020 . It is totally a different category from other departments of those I got experience.4.7 CONCLUSION This department keeps an all in all fascination for me. 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.

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

In this department. with effective communicating skills. He is very much supportive and obliging to his subordinates. He always for the ways to solve client’s problems and deals with inter-department with a win approach. where all the employees were performance oriented and were highly focused towards the end results.2 ACCOUNTS Most important department of the bank is concerned with  Revenues  Expenses  Assets  Liabilities These are the pillars of business. Hamid Siddique and assisted by Mr. Majid Malik and Mr. The culture I observed in this department was very friendly. Hafiz Naveed. His attitude and management style is not of commanding type. but of collaboration and co-operation 5. The accounts department is supervised by Mr. all the vouchers are The Caring Bank Page 59 Report By F06B020 . the incharge of accounts department is a nice person.1 ABOUT THE MANAGER Hamid Siddique Incharge Accounts Department Bank AL-FALAH limited Hamid Siddique. He is in a habit of resolving conflicts.5. if any. During my entire stay I observed that he is a kind manager who believes in self empowerment of the employees.

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. 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.3 MAJOR ACTIVATES Accounts department is totally a backend department and is not linked to customers at all. Like petrol for the car. If any kind of renovation or construction or rebuilding is done. Amount. outside the branch and for other banks are handled with this department. date. The Caring Bank Page 60 Report By F06B020 . These vouchers are already posted to computer by the concerned department. stamps. medical allowances.posted during one day are sent to Accounts department next day. signatures all the requirements for cheques and vouchers are fully checked. all is paid from the Accounts department. etc are all paid by this department 5. The accounts department has to tell that all the vouchers are posted under the right head. All the day’s transactions inside. 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. stationary charges.

monitor it. The responsibilities in the accounts department are to debit and credit each and every transaction. International remittance. 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.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. local remittance.2 MONITORING & POSTING DAILY ACTIVITIES & TRANSACTIONS Monitoring daily activities include each and every transaction from all customers’ accounts including. 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). 5. ATM transaction.5. Statement of Affairs (a report on the assets and liabilities of Bank Al-falah Liberty Market). monthly.3. quarterly or yearly basis as required by the bank.4. The Caring Bank Page 61 Report By F06B020 . 5. inward and outward transactions etc. These reports can be generated at daily. weekly. supervise it and special transactions which require supervision by higher authorities should be supervised.4 FUNCTIONS 5.3.1 REPORTS It generates reports like Statement of Account Activity (a report on the activity of all accounts at Bank Al-falah Liberty Market).

cheques.1 COLLECTING VOUCHERS The first stage of activity checking is collecting all vouchers. Packing 5. I had to do daily activity checking and there are four stages in which activity checking takes place: 1.2 INCOME AND EXPENSE The department also needs to calculate the revenues and expenses.4.5 PAYMENTS The accounts department is responsible to pay vendors on behalf of the bank with authorization from the branch manager.5.4.4.4. DD’s.6.4 STORAGE OF RECORDS Accounts Department also has the duty to store vouchers and system generated reports.6 ACTIVITY CHECKING In the accounts department. pay order. Mainly vouchers come from The Caring Bank Page 62 Report By F06B020 . control expenditure and forecast profits every month.3 BUDGET Formulation of yearly budgets & targets in consultation with the branch manager is also done by the accounts department. Sorting Vouchers 3. 5. pay slips etc from all departments of the bank. 5. It also has to amortize large payments and calculate depreciation of branch assets.4. cheques etc from all departments 2. 5. Checking Activity 4.4. Collecting vouchers. 5.

6. daily activity is checked using the statement of account activity. Pay orders. all sorted vouchers are counted. payables etc 6. Head Office (H. 5.the operations department. we need to check if all stamps are stamped on these vouchers etc.4.3 CHECKING ACTIVITY After sorting takes place.2 SORTING VOUCHERS After all vouchers are collected.4. Expenditure: Expenses vouchers and payment vouchers 5.6. The Caring Bank Page 63 Report By F06B020 . both debit and credit and then packed by totaling the vouchers.6. FED. Others: Includes vouchers about excise duty. After collecting these vouchers etc from the departments. which contains all daily activity of the accounts in the bank. Customer Debit: Includes debit vouchers and cheques 2. DD advices 8. 5. teller. Income: Income vouchers 4.4 PACKING After the activity is checked. they need to be sorted into eight categories: 1. ATM. Bills Payable General (BPG): Includes vouchers and DD. Pay slips etc 5. Customer Credit: Includes credit vouchers and credit slips 3.4. 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. Online: Contain online vouchers and online credit slips etc 7.O): Includes HO vouchers and IBCA.

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

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

Especially.1. Circular Road branch for being situated in business and commercial hub of Lahore has second largest volume in trade finance. it attaches great significance to the development and maintenance of healthy correspondent relationships with other Report By F06B020 The Caring Bank Page 66 .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). 6.6. 6.3 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. They have trust and feel themselves to be secure while banking with BAL. they have added some local flavor in accordance with their targeted segmented. However. where the customers can safely keep their money as long as they want. I observed that they interact with their clients as if they are their personal friends and discuss about their problems as their own.2 GOODWILL & TRUST As a result of the compassionate and personalized services of the officers. in Circular Road Branch.1. A bank.4 FOREIGN TRADE BUSINESS The bank is focusing on Trade Financing. For example.1. I am pointing some of the major strengths of the bank 6.1 STRENGTHS Bank Al-Falah is considered to be a very sound bank in the financial circles. the clients’ perception for BAL is very high.

a new program named ‘banksmart’ will start functioning (it has started functioning in Clifton branch). Towards this pursuit. 6.5 WIDE BRANCH NETWORK Bank Al-Falah’s objective has been to expand its branch network to meet clients’ needs. bankexel is being practiced for this purpose but very soon. And. It is heartening to note that in just three years. the bank handled foreign trade business in excess of PKR 30. representing an increase of 92% over the previous year. has enabled it to handle the ever-growing trade volumes.banks and financial institutions. Currently. whose support in terms of lines of credit extended to the bank. The Caring Bank Page 67 Report By F06B020 .6 THE COMPUTERIZED SYSTEM BAL has got a reliable and easy to use internal computer system. the bank has increased the branch network from 3 to 23. During year 2000.1. The expansion program is strategically important to increase customer base and to approach different customer segments. due to the growing business requirements.1.6 billion. which is considered the infancy stage in the industry. there are 10 proposed branches in different cities. BAL has developed excellent business relations with foreign banks. 6. Every information regarding the transactions in customers’ deposits has been computerized.

so keeping in view these threats. Bank Al-Falah also has some shortcomings that need to be mentioned: 6.2. Since. Bank Al-Falah should emphasize more on its advertisement.2 WEAKNESSES Perfection is only the claim of Allah Almighty. The Caring Bank Page 68 Report By F06B020 . So I think that the work should be distributed according to their post and capabilities. 6.2 2 PROBLEMS OF EMPLOYEES I observed during my internship that some of the employees were burdened with over work.6. even more than other commercial banks. but any advertisement on electronic media has not been seen. BAL’s major competitor Union Bank Limited has started large media campaign. Similarly. 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.

3.1 INFORMATION TECHNOLOGY All the opportunities of the 21st century are to be availed in the information technology.3 GROWTH IN DEPOSITS BAL has introduced a number of financial schemes including special royal accounts. 6. There are great opportunities for BAL for the expansion of its business. The Caring Bank Page 69 Report By F06B020 . to enhance online facilities.6.2 EXTENSION OF BRANCH NETWORK Bank Al-Falah’s growing business requires an extensive branch network. These accounts have their unique features (discussed earlier). Therefore BAL should emphasize much on IT. Information technology is the future. During the last three years. Therefore.3 OPPORTUNITIES Bank Al-Falah has grown up its business with a very high pace and it has got tremendous popularity. 6. even with in a very short span of time. BAL’s deposits have been increasing @ 30%.3. which is a very healthy sign. Bank can design a universal account like other foreign banks. especially the E Banking. 6. with the commencement of new schemes there can even be a greater increase in its deposits. There are many opportunities for the bank and by availing that it can stand amongst the top foreign banks.3.

4 THREATS 6. The SWOT analysis of the bank signifies that its strengths overcome its weaknesses and its opportunities are more than its threats. Bank Al-Falah has been still highly profitable. 6. This is a positive sign for any organization.2 COMPETITORS Bank Al-Falah is facing a strong competition by its major competitors. the facts can’t be denied and there might be an adverse impact of such situation.4. Union Bank and Askari Commercial Bank.6.4.1 ECONOMIC CONDITIONS Despite the difficult circumstances that confronted the banking sector in particular and the country in general. But. The Caring Bank Page 70 Report By F06B020 . Business of these banks is also growing with very high pace.

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

The banking industry is also reaping the fruits of this economic boom by growing rapidly over the past few years.1 SUMMARY With the development of economies and globalization. It was absolutely an interesting and edifying experience. It gave me an opportunity to apply my theoretical knowledge to practical field. Report By F06B020 The Caring Bank Page 72 . 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. and since its establishment it has aimed to become the leading bank of Pakistan by that provides outstanding services to its customers. exposure to corporate world and its culture is becoming a necessary and valueable experience for college graduates entering the job market. gain an increased awareness of skills. The bank has seen phenomenal growth in the past few years by opening more branches in the country.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. Successful completion of internship further develops character. personel qualities ad values. Also the products that Bank Al-Falah provides cater to sector of the economy. 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. and to gain a richer understanding about them that made me learn more about my chosen field. as an internee in this organization was very useful. The six week experience. attributes. My foremost objective of this internship project was to apply classroom theory to real work situations. increasing the deposit base.

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

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

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

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

Introducing employee awards at branch and regional levels. like that of other bank. which my include sorting of cheques.3 INCENTIVES Incentive schemes should be developed for the employees that can help motivate them. 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. so that they can actively find prospect customers to take up products from Bank Al-Falah. 8. For this purpose.1. special teams should be developed that include professional from all departments of the banks to come with ideas.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. 8. Scholarship programs for all employees. phone banking etc. 8.1. This process will increase the The Caring Bank Page 77 Report By F06B020 . which might include:     Personal loans and car financing facilities for all ranks of employees.4 PRIORITY BANKING AND BUSINESS DEVELOPMENT DEPARTMENT There is no priority banking department at Bank Al-Falah. Job rotation programs to enhance the skills of employees. Also Business Development Department should be developed in all branches.1.5 INNOVATIVE PRODUCTS New and innovative products should be introduced by Bank Al-Falah. like other bank such as Citibank and Standard Chartered Bank develops for their customer.

8 AMENITIES IN BRANCH There should be a prayer room developed in all branches as many employees want to pray. so as to give employees a relaxing environment when they have a break. Also work like sorting. even more than other commercial banks.1. 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. while some have more than needed.1.6 MARKETING BAL has formulized a lot of products and services for its customers.So. All this creates inefficiencies and so the operations manager should look at the department of the branch and see where inefficiencies lie. The Caring Bank Page 78 Report By F06B020 . 8. but any advertisement on electronic media has not been seen. 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.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. 8. but do not have the proper place to do it.1. 8.

Graduates can not truly avail the novel benefit of the immense opportunity of internship to learn in such a short span of time i.2. 6 weeks only.2. Presently. Their contacts will be increased and when they would need guidance they can get it from their own seniors. a minimum requirement of 6 week is not sufficient for a promising graduate to really mingle in the shade of corporate world. One need to b equipped with if one The Caring Bank Page 79 Report By F06B020 . 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. 8.1 INTERNSHIP DURATION Once the foundation has been set at university.8. In this way the students who are still studying will have the knowledge of jobs. Their exposure to the real business world will be broadened.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. 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.2 RECOMMENDATIONS TO INSTITUTE OF BUSINESS AND INFORMATION TECHNOLOGY Institute of business and information technology is undoubtedly a first-rate school in its field.e. Seminars should b held in which the business representatives should visit our institution. In this way. Its MBIT & BBIT program are meticulously designed to meet competitive international standards of modern world. the faculty as well as the students will know that what is required in the business world now-a-days.

4 ADVANCED COURSES In my view. They should know that what subjects are taught to us and what is the value of our degree.3 TEACHER’S EVALUATION The teacher’s evaluation should be taken seriously. The Caring Bank Page 80 Report By F06B020 .wants to get better job. With the increase in the business of organizations and their business approach. the business organizations will also know the caliber of our students.2. 8.2. In today’s world. organizations are now not bound to the borders only. it provides with new prospects and unlocks the doors of employments. So there is a need to give exposure of the course International Finance to our BBIT students. the courses presently taught are not quite enough to fulfill the continually changing needs of the business world. Moreover. It is a perfect tool to cater to the students needs if properly used. 8. The students fill what they want from a teacher but it is rarely taken into notice. like course Entrepreneurship. IBIT must consider other advanced courses for auxiliary improvement of its curriculum.

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

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

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

phone banking etc. Also scheduled backups of data should be done with in the bank. counseling programs should be started for junior executives or new entrants into the bank.3 INCENTIVES Incentive schemes should be developed for the employees that can help motivate them. for all Bank Al-Falah employees. introducing them to their prospects in this industry.1. These workshops should relate to all aspects of banking and may also be conducted with other banks as a joint program. rather than just two centers.2 WORKSHOPS AND COUNSELING Work shop programs should be conducted in every city. Scholarship programs for all employees. Job rotation programs to enhance the skills of employees.with other banks. which might include: • • • • Personal loans and car financing facilities for all ranks of employees.1.4 PRIORITY BANKING AND BUSINESS DEVELOPMENT DEPARTMENT The Caring Bank F06B020 Page 84 Report By . 8. Introducing employee awards at branch and regional levels. 8. which my include sorting of cheques. Also as parts of the human resource training.1. 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. 8.

8. For this purpose. so that they can actively find prospect customers to take up products from Bank AlFalah.6 MARKETING BAL has formulized a lot of products and services for its customers. 8.5 INNOVATIVE PRODUCTS New and innovative products should be introduced by Bank Al-Falah. 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.7 PLACEMENTS OF EMPLOYEES There are some departments in the bank that do not have enough employees.1. while some have more than needed. 8. even more than other commercial banks. Also Business Development Department should be developed in all branches.So. like that of other bank.There is no priority banking department at Bank Al-Falah. This process will increase the number of ideas generated and even produce innovative products for the bank that might give them the edge. 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. like other bank such as Citibank and Standard Chartered Bank develops for their customer.1. All this creates The Caring Bank F06B020 Page 85 Report By . 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.1.

8. but do not have the proper place to do it. Its MBIT & BBIT program are meticulously designed to meet competitive international standards of modern world.2. The course has optimal blend of IT tolls and management as science.inefficiencies and so the operations manager should look at the department of the branch and see where inefficiencies lie. 8.1.8 AMENITIES IN BRANCH There should be a prayer room developed in all branches as many employees want to pray.2 RECOMMENDATIONS TO INSTITUTE OF BUSINESS AND INFORMATION TECHNOLOGY Institute of business and information technology is undoubtedly a firstrate school in its field. 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. 8. Also work like sorting. so as to give employees a relaxing environment when they have a break.1 INTERNSHIP DURATION The Caring Bank F06B020 Page 86 Report By .

2. In this way.e.3 TEACHER’S EVALUATION The Caring Bank F06B020 Page 87 Report By . Moreover. Presently. 6 weeks only. One need to b equipped with if one wants to get better job. a minimum requirement of 6 week is not sufficient for a promising graduate to really mingle in the shade of corporate world. the business organizations will also know the caliber of our students. 8. 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. Graduates can not truly avail the novel benefit of the immense opportunity of internship to learn in such a short span of time i.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. In this way the students who are still studying will have the knowledge of jobs. Their contacts will be increased and when they would need guidance they can get it from their own seniors. Seminars should b held in which the business representatives should visit our institution. 8. They should know that what subjects are taught to us and what is the value of our degree. the faculty as well as the students will know that what is required in the business world now-a-days.Once the foundation has been set at university.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.

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

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