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Table of Contents

Chapter 1 Introduction .................................................................................................................... 5 1.1 Background History ....................................................................................................................... 5 History ................................................................................................................................................. 6 Capital and Ownership:....................................................................................................................... 6 Mission statement: ............................................................................................................................. 6 Vision Statement:................................................................................................................................ 7 1.2 Branch network ......................................................................................................................... 7 1.2 DIVISION .................................................................................................................................. 10 1.3 Main Products and Services: ................................................................................................... 11 1.4 MANAGEMENT HIERARCHY .................................................................................................... 12 1.5 1. 2. 3. 4. 5. 6. Different Departments of Company: ................................................................................... 13 Operation Department: ....................................................................................................... 13 Agri-finance Department ..................................................................................................... 13 Credit Administration Department:..................................................................................... 13 Marketing Department: ....................................................................................................... 14 Consumer and Finance Department:................................................................................... 14 Documentary Credit and Foreign Trade Department: ........................................................ 14 HR Department ......................................................................................................... 15

CHAPTER 2

2.1 History ......................................................................................................................................... 15 2.2 Different functions of hr department ......................................................................................... 15 Chapter 3 Hr planning ...................................................................................................................... 16

Objectives of Human Resources Planning:- ...................................................................................... 16 Planning Process of Faysal Bank:- ..................................................................................................... 16 Chapter 4 Job Analysis ................................................................................................................... 17

Job Description: ................................................................................................................................ 17 Job Specification: .............................................................................................................................. 17 Job Analysis of Faysal Bank ............................................................................................................... 17 Principal Accountabilities:................................................................................................................. 18 Compliance ....................................................................................................................................... 18 Documentation ................................................................................................................................. 18 Problem Solving and Services ........................................................................................................... 19 Other Responsibilities: ...................................................................................................................... 19

Job Requirement: .............................................................................................................................. 20 Supervisory Responsibilities: ............................................................................................................ 20 Chapter 5 Recruitment and selection .............................................................................................. 21

Recruitment ...................................................................................................................................... 21 Internal Source:................................................................................................................................. 21 Job Posting : .................................................................................................................................. 21 Contacts and References : ............................................................................................................ 21 External Source: ................................................................................................................................ 21 Advertisement :............................................................................................................................. 21 Direct Approach : .......................................................................................................................... 21 Selection Process .............................................................................................................................. 22 Methods of Selection ........................................................................................................................ 22 Testing: .......................................................................................................................................... 22 Test requirements ......................................................................................................................... 22 Interview: ...................................................................................................................................... 22 CHAPTER 6 Training and development .......................................................................................... 23

Purpose of Training:-......................................................................................................................... 23 Job Rotation:- .................................................................................................................................... 23 Coaching:- ......................................................................................................................................... 23 Internships:- ...................................................................................................................................... 24 Chapter 7 Compensation and performance appraisal .................................................................... 25

Compensation Management ............................................................................................................ 25 Salary:............................................................................................................................................ 25 Probation Period: .......................................................................................................................... 25 Promotion Criteria: ....................................................................................................................... 25 Performance Basis: ........................................................................................................................... 26 Without Performance: .................................................................................................................. 26 Rent OR Residence Facility:........................................................................................................... 26 Medical Care: ................................................................................................................................ 26 Transportation Facility: ................................................................................................................. 26 Pension:......................................................................................................................................... 26 Vacation Criteria: .......................................................................................................................... 26 Transfer: ........................................................................................................................................ 27 Career Management: .................................................................................................................... 27

Performance Appraisal: ................................................................................................................ 27 Chapter 8 Industrial Relation ........................................................................................................... 28

Equal employment opportunity........................................................................................................ 28 First Aid Program .............................................................................................................................. 28 Governing Law .................................................................................................................................. 28 Acceptance of Terms & Conditions and Declarations ...................................................................... 28 Funds Transfer through Alternate Channels ..................................................................................... 29 Securities ........................................................................................................................................... 30 References ............................................................................................................................................ 31

Chapter 1

Introduction

1.1 Background History


The DMI group headed by H.R.H. Prince Mohamed Al Faisal Al Saud, is registered in the Bahamas with main offices in Geneva, Switzerland. The DMI group has been the leading contributor to the development of Islamic bank ing in the world, particularly with regard to promoting new modes of investment compatible with Islamic Shariah. The groups business comprises of three main sectors - Islamic Banking, Islamic Investment and Islamic Insurance. The DMI group has an extensive network of financial institutions stretching over four continents, with well-integrated regional subsidiaries, enabling it to respond to local business needs and conditions. Based on this geographical structure, the DMI group companies act as a financial bridge between the worlds leading financial centers and the Islamic countries.

History
Faysal Bank started operations in Pakistan in 1987, first as a branch set-up of Faysal Islamic Bank of Bahrain and since 1995 as a locally incorporated Pakistani bank under the present name of Faysal Bank Limited. On January 1, 2002, Al Faysal Investment Bank Limited, another group entity in Pakistan, merged into Faysal Bank Limited which resulted in a larger, stronger and much more versatile institution. In fact it has the highest share capital amongst private banks in Pakistan and is amongst the largest in terms of equity.

Faysal Bank Limited is a full service banking institution offering consumer, Corporate and investment banking facilities to its customers. The Banks Widespread and growing network of branches in the four provinces of the country And Azad Kashmir, together with its corporate offices in major cities, provides Efficient services in an effective manner.

Capital and Ownership:


The majority share holding of Faysal Bank Limited is owned by companies of the Dar Al Maal Al Islami Trust (DMI) including Shamil Bank of Bahrain E.C. The remaining shareholders comprise of the general public, NIT and other Pakistani institutions. The Banks shares are quoted on the Karachi and Lahore Stock Exchanges.

Mission statement:
Faysal Bank shares its mission statement with the DMI Trust. Our mission being The introduction of a just and equitable financial system by being a world class multi-purpose financial institution, providing a range of specialized services, working on Shariah principles.

Vision Statement:

1.2 Branch network

South Region Karachi Karachi Main Branch Faysal House ST-02, Main Shahra e Faisal 92-21-111-747-747 92-21-32795234

Quality Height Clifton Branch K.D.A Scheme # 5, Clifton 92-21-35838959 92-21-35863774

Gulshan-e-Iqbal Branch B -35, Block 13-A Main University Road 92-21-34994261 92-21-34994260

North Region Islamabad Blue Area Branch 15-West Jinnah Avenue Blue Area 92-51-2275096-9 92-51- 2275095

F-10 Markaz Branch 2-G, Capital Business Center F-10 Markaz 92-51-2104456-8 92-51-2104459

F-7 Markaz Branch Shop 1, Plot 12 D Jinnah Supermarket F-7 Markaz 92-51-2652676 92-51-2654689 92-51-2652665

Central Region Lahore The Mall Branch 43, Shahrah-e-Quaid-e-Azam 92-42-37314051-54 92-42-111747747 92-42-37314447

M. M. Alam Road Branch 95, B-II, M.M. Alam Road Gulberg-III

92-42-35755190-94 92-42-5712748 92-42-35755196

D.H.A H-Block Branch 136/1, Block-H, Commercial Area Phase-I, DHA Lahore Cantt 92-42-35897712-17 92-42-35897720

Garden Town Branch 4-Aibak Block, Garden Town 92-42-35889810-4 92-42-35889675

Islamic Banking Branch Network


Karachi

Sharafabad Branch Al-haram 1, BMCHS, Alamgir Road, Sharafabad, Karachi, Pakistan. PABX: 021 34923770 4

Nazimabad Branch First Floor, Plot # 16, Row # 1, Sub Block A, Block III (III/A, 1/16), Nazimabad, Karachi, Pakistan. PABX: 021 36613053 55

1.2 DIVISION

1.3 Main Products and Services:

Products

Deposit Products (Accounts) The Faysal Sahulat Account The Faysal Savings Account Rozana Munafa Account Rozana Munafa Plus Account Faysal Premium and Premium Extra Accounts Faysal Izafa Mahfooz Sarmaya
Consumer Finance Products

Faysal Car Finance Faysal Housing Finance Faysal Finance


Services

Cash Management ATM and Debit Cards Travelers Cheques Inter-Branch Transfer of Funds Safe Deposit Lockers Non-Stop Banking

1.4 MANAGEMENT HIERARCHY

Board of Directors:

H.R.H Prince Mohamed Al Faisal Al Saud Farook Bengali Khalid Abdulla Janahi Dr. Said Sa'ad Al-Martan

Chairman

President & CEO

Director

Director

Ziad H. Rawashdeh

Director

Sanaullah Qureshi

Director

Shahid Ahmad

Director

Tariq Iqbal

Director(NIT Nominee)

Executive Committee:

Khalid Abdulla Janahi Farook Bengali

Chairman

Member

Ziad H. Rawashdeh
1.5 Different Departments of Company:

Member

Different departments of Faysal Bank are as under;


1. Operation Department:

Operation Department is subdivided into following 4 departments: a. Remittance b. Cash c. Account Opening d. Customer Service
2. Agri-finance Department

This department provides agriculture loans to the formers at nominal rates with easy terms. It includes short term financing for fertilizers, seeds, pesticides etc and long term financing for purchase of harvesting machines and installation of tube-wells etc.
3. Credit Administration Department:

This department supervises the loans either given or received in the form of deposits. It administers the conditions imposed at the time of delivering of loan like security etc.

4.

Marketing Department:

It peruse the customers to make business with the bank either in the form of Deposits or by applying for financing. Different toots and techniques of marketing are used such as making contact personally with the customers, advertisement. Through television, news papers and on the website.
5. Consumer and Finance Department:

This department provides loans to the ultimate consumer in the form of car leasing, house financing and as well as personal loans. Besides this it also administers the loans already given.
6. Documentary Credit and Foreign Trade Department:

This department provides assistance to customers regarding foreign trade, such as it deals with the international companies and provides goods and services required by customers. The kind of assistance it provides includes letter of credit facility, guarantor and also helps in foreign remittances.

CHAPTER 2
2.1 History
Human Resource Department

HR Department

Main HR Department is located at Faysal Bank Head Office Karachi. There are HR Co-coordinators in each branch of Faysal Bank which supervises the applications and practices of HR department. If in any branch of Faysal Bank, a particular vacancy is to be filled, the applicant will make contact to the Branch Manager of that particular branch which will refer the candidate to the Head Office. All the recruitment and selection process will be will be conducted at Head Office. Then the Head Office selects the candidate on he basis of information provided by the candidate. The selection pr ocess includes the testing and interview process. After selection, the employees are then transferred to their particular branches, where the duties are assigned to them as well as training is provided them on the basis of their nature of job. HR department sets the rewards (salaries, bonuses etc) according to the performance and the target achievement of the employ ees, If one is working satisfactorily and efficiently then he is awarded with such incentives that will motivate others to do well. If the performance shows downfall, he is warned. The Manager of each branch is responsible for the appraisal of the employees. Then on the basis of appraisal, promotion and salary increments are awarded.

2.2 Different functions of hr department


2.2.1 2.2.2 2.2.3 2.2.4 2.2.5 2.2.6 2.2.7 Hr planning Job analysis and design Recruitment and selection Training and development Performance appraisal Compensation management Industrial relation

Chapter 3

Hr planning

Human resource planning is the process of determine and organizations human resource needs. Its involves forecasting and planning for the acquisition, retention, improvement and the utilization of HR. in other words we can say that its is the process through which management select the right number of workforce for the right job, at the right place and at the right time. Planning is a very important part of any activity. In organization every decision needs its own set of plan. So, HR planning process is the carrying out of analysis of existing workforce and the forecasted man power. This process also includes the development of training, skills and abilities.

Objectives of Human Resources Planning:

To reduce excessive labor turnover & high absenteeism. To forecast future requirements and availability of finance and HR labor. To ensure employees satisfaction and developing of their skills. Ensure right number of workforce for the right job, at the right place and at the right time.

To ensure organization is responsive to changes in the environment and technology.

Planning Process of Faysal Bank:

To know where they are and where they want to go. To train their employees to meet the objectives effectively and efficiently. To determine the need of extra work force to do the job. Developed action to meet the anticipated HR needs. HR manager of Faysal Bank also builds employment plans which are based on the basic

assumptions for employment by forecasting three things.


The supply of inside candidates Personnel needs The supply from the outside candidates according to the bank requirements.

Faysal Bank checked that either there is any job placement or any expansion in t

Chapter 4

Job Analysis

The procedure for determining the duties and skill requirements of a job and kind of person who should be hired for it. Job analysis has two components i.e. Job Description Job specification

Job Description:
Job description is the process through which we determine the duties, responsibilities, supervisory responsibilities and behaviours required to perform the job

Job Specification:
Job specification is the process of determining the job related skills, abilities required for a job

Job Analysis of Faysal Bank


Basically there is no specific Job Description and Job Specification for a particular job in Faysal Bank. Change in banking system and size of operations is affecting the duties, responsibilities of job. Faysal Bank for writing job description and job specification intensely focus on the immediate supervisor. If there is any job vacant at low level in the Faysal Bank, the immediate supervisor of concerned department with the assistance of Branch Manager will transfer the relevant job description and specification to the HRM Department of Faysal Bank situated at Karachi. The head office will use this written job description and specification to select the right employee for Faysal Bank. But one thing is important that job related duties and responsibilities at low level can change with the will of immediate supervisor. Practically when we talk about the Faysal Bank low level staff, about more than 40 employees are working under the authority of operational manager. Operational manager can change the duties and responsibilities of employees working under his authority.

At the middle level management, the operational manager and all the concerned department head come under this part. The Branch manager of the concerned branch will write job description and job specification of the vacant job and transfer it to the head office of Faysal bank. At the top level, the Branch manager of the concerned branch come. In practical side, their job analysis is done directly by the head office. And the head office use the mostly internal source of recruitment here to fill the vacant top level job or succession planning.

An Example Regarding Job Analysis (Description & Specification):

Principal Accountabilities:
1. Timely handling of all front office activities associated with the opening of customer accounts at the branch to enhance customer satisfaction and process efficiently. 2. Maximize sales of banks product/ services to meet targets assigned with regards to Deposits/ Risk/ Assets/ Customer Finance. 3. 4. Receipt of ATM forms and timely issuance of ATM card. Manage and handle processing and operations of all FCU related activities of the branch including printing of all associated reports.

Compliance
1. 2. 3. Positive internal audit rating with low incidents of audit objects. Complete adherence to FBLs SOPs as per laid policies and procedures. Full compliance with SBP and other regulatory requirements.

Documentation
1. Preparation of daily position of balance sheet/profit and loss with details of other assets and liabilities for review of Branch Manager. 2. 3. 4. 5. Reporting of demand and time liability figures and weekly position to Treasury Preparation of JVs and payment vouchers for settlement of vendors bills Record responding entries debited by Main Branch pertaining to FCU. Preparation of monthly results duly signed by the Branch Manager for head office FCU. 6. Report to H.O. FCU for SBP of monthly expenses, cost of funds, liabilities and assets 7. 8. Preparing details of assets charged off during the month. Preparation of details of addition, disposals and transfer of fixed assets along with summary. 9. 10. 11. 12. 13. Aging of accounts appearing in other assets and liabilities pertaining to FCU. Preparation of data files and e-mailing of same for Enterprise Reporting Preparation of details of leases written during the month. Cost of funds report for the month with year to date figures. Variance report on actual vs. budget figures.

14.

Preparation of quarterly/yearly income tax reports for Head Office and Income tax Department.

15. 16. 17.

Maintenance of staff personal files Preparation of weekly deposit comparative positions. Submission of withholding tax deduction, its reporting and related returns only for staff/suppliers.

18.

Branch related financial reporting on daily/weekly/quarterly/biannually.

Problem Solving and Services


1. Provide heighest level of personalized service to customers through proper handling, timely assistance, promptly attending to their queries and complaints, catering to their personal banking needs and building a strong and cordial relationship to avoid dissatisfaction. 2. Deciding and providing the right type of product/service to meet the need of individual customer. 3. Maintaining and improving the service standards of the Bank to avoid incidence of complaints related to service issue from banks customers. 4. Close coordination with all other functions of the branch to facilitate smooth customer transaction processing.

Other Responsibilities:
1. 2. Backup of other Customer Services Officers(CSO) To generate business through local sales promotion, in-branch walk in customers and marketing calls on existing as well as potential individual customer to increase sales thereby increasing the branch business. 3. Coordinate the sales effort of sales team where needed and to forge strong rapport with the customers to ensure strengthening of relationship on an ongoing basis, 4. 5. Maintain a high standard of appearance of the customer service center and self. Any other responsibility assigned by Operations manager/ Branch Manager.

Job Requirement:
Minimum Qualification Experience

Supervisory Responsibilities:
Number of person reporting Direct Report Report to

Chapter 5
Recruitment

Recruitment and selection

Recruitment refers to the process of attracting job applicants from the available labor force. Selection is the process of choosing from a group of applicants those individuals, best suited for a particular position Sources used by Faysal Bank: 1. Internal Sources 2. External Sources

Internal Source:
Job Posting :

Faysal Bank publicizes open job to its existing employees by listing its attributes e.g. qualification, experience and pay rates. Bulletin Boards and Notice Boards inside the organization are used for this publication.
Contacts and References :

Faysal Bank encourages the contacts and references of its existing employees. It means if there is any job vacant in the bank, the candidates referred by the employees are preferred.

External Source:
Advertisement :

Advertisement is a major external source adopted by Faysal Bank. Organization extensively focuses on advertisement about vacant jobs and thus attracts the potential candidates. The only source of advertisement adopted by Faysal Bank is news papers.
Direct Approach :

Faysal Bank approaches directly to experienced employees of other banks and offers them higher rewards to pursue them to leave their existing jobs and join Faysal bank. Disadvantage of this method is that they have to pay higher salary for the post offered.

Selection Process
Selection process involves screening of candidates by which best suitable person in chosen for a vacant post from a pool of candidates. And rejecting the other who is found eligible as per their qualifications and suitability for job. The main objective of the selection process is to choose the right person for a right job.

Methods of Selection
Testing:

Test is conducted by the regional offices of Faysal Bank to choose the potential candidates. Test is divided mainly into two portions o General IQ level test o Job Related Test (30% weightage) (70% weightage)

Test requirements

Duration of test is 2-3 hours Minimum 50% marks are required to appear in the interview. There is no negative marking in the test. Qualifies candidates are then called for an interview.
Interview:

In an interview information is obtained from the candidates through oral responses. Regional office conducts the interview Panel Interview is conducted Panel consists of 3-7 members Expected salary and information about information about past job is gathered Nature of job and responsibilities are discussed with the candidate Preferences of candidate are asked in the interview

CHAPTER 6

Training and development

Training has become a pre-requisite for advancement in the profession. In FBL, employees are provided training according to the requirements of the individuals. Training programs attended by the Bank employees are mostly sponsored by Pakistan Institute of Management and Institute of Bankers in Pakistan. Management accesses the development and training needs of each individual and enrolls the employees accordingly. Along with these formal training programs, employees are given informal training regularly by their immediate superiors according to individual needs and deficiencies. In short, training is a continuing in FBL. If the people are hired from outside for higher jobs and the already working employees remain working in their grades, it becomes difficult to maintain the desired levels of performance. Moreover, such a practice also results in creating unrest among the employees, and as a result they cant wok up to their maximum capabilities.

Purpose of Training:The purpose of training is to increase trainers knowledge and skills on the active learning strategies needed to effectively communicate training sessions. The key idea of training is to change the way people behave on the job in some fashion. Its not just learning, its also behavior change. After the training is done, trainees should do something differently than they did before.

Job Rotation:To rotate the employees from one job to another within same department as to enhance his experience for increased job duties. In Faysal Bank there are no specific criteria for job rotation. It depends upon the will of Branch Manager whether to rotate the employee or not.

Coaching:Initially the employees are selected as MTOs (Management training Officers). They are provided with necessary training relevant to their job in specific branches as directed by regional office. On job training is also provided to the employees. Permanent employees are trained with respect to certain changes in banking system and its policies such as installation of new software, change in pattern of transaction, change in Govt. policies etc.

Internships:Fresh graduates and master degree holders of reputed institutes are invited to get training regarding operations of a particular organization against a little reward. Faysal Bank also has an attractive offer for fresh graduates and master degree holders to get apprenticeship. This offer contains attraction as a reward of Rs. 750 per weak and if performance is unto the mark then an offer for permanent employee s made.

Chapter 7

Compensation and performance appraisal

Compensation Management
Salary:

There are two way of salary setting in Faysal Bank: If Bank approaches to any experienced employee thin pay will be set on the will of employee. If the candidate approaches to Bank then B.M negotiate for salary. Bank will pay Rs. 10490 to fresh candidates it includes 66.67% of basic salary. Add 40% of basic salary is house rent. Add 10% of basic salary is utility allowance.

Salary is not providing according to rank but salary is according to performance and target achievement. Lets have a view on salary of different employees.

Branch Manager Operational Manager Customer service in charge Cash in charge Branch Accountant
Probation Period:

Rs. 78600. Rs. 42500. Rs. 20900. Rs. 35000. Rs. 16000.

It is specific time period for new employees does not become a permanent employee and in this period organization can fire at any time on the basis of pour performance. Faysal Bank initially selects the new employees on the probation period of six months.
Promotion Criteria:

In Faysal Bank Branch Manager is responsible for making promotion which is made on the basis of performance. Two promotion Criteria are used: 1) On performance Basis 2) Without performance

Performance Basis:
On the basis of performance no specific criteria for promotion. One can be performed from OG0 to OG1 grade with 3 month.
Without Performance:

If the employee does not perform well for even consecutive three years then his promotion is must to next level.
Rent OR Residence Facility:

House rent is paid to every one at a rate of 40% of basic salary. No residence facility is given to any one.
Medical Care:

Faysal Bank provides medical facility to all of its employees. If one employee is admitted in any hospital, bank will provide 700 daily. All the medical bills are reimbursed by Faysal Bank if bills are proper invoices. The fallowing Hospitals are listed with Faysal Bank: DHQ Hospital D.G.Khan City Hospital D.G.Khan Doctors D.G.Khan
Transportation Facility:

No transportation facility is provided by Faysal Bank. Only Branch Manager is provided with the patrol facility.
Pension:

No pension is given as it is a private Bank. Only gratuity fund is provided 10% of basic salary per month is contributed by employee and equal amount is contributed by employer at the time of retirement both amounts along with interest is paid to employee.
Vacation Criteria:

Faysal Bank provides an annual leaves of 42 with pay from which:

6 sick 6 causal 15 recreation leaves 15 privilege leaves


Transfer:

If an employee is periodically employed outside the town and the branch is being opened in the home town of the employee he is transferred to the home town branch. In case of any shortage, employees are also temporary transferred.
Career Management:

Initially the fresh employees are selected on contract basis. If one selected on permanent basis six month probation period is applied. An employee has following opportunities for career building.
Performance Appraisal:

To compare the employees current/past performance with their standards such process is called performance appraisal. Faysal Bank adopts the traditional appraisal method which is done on yearly basis. (Branch Manager of Faysal Bank) appraises from sweeper to operational manager and appraises of BM is done by area manager of Faysal Bank. Branch manager appraises all the employees by taking direct instructions from respective heads.

Chapter 8 Industrial Relation


Equal employment opportunity
It gives the opportunity to every employee to have all the benefit and have equal right to excel into the job

First Aid Program


Every employee is asked to have a basic knowledge of providing first aid to the employees.

Governing Law
197. These terms and conditions shall be governed and be subject to the substantive and procedural laws of Islamic Republic of Pakistan, including all notifications, directives, circulars and regulations of the State Bank of Pakistan and / or provincial or federal government or any other local authority or body, and shall be deemed to be modified to the extent required for compliance with the Governing Laws.

198. "I" "we" "Account Holder" or "Customer" shall include any customer operating an Account with Faysal Bank and where appropriate any person authorized to give instructions in relation to the Account and in the case of a joint Account or an Account other than that of an individual, all account holders or authorized signatories each of whom shall be deemed to have joint and several obligations to the Bank.

Acceptance of Terms & Conditions and Declarations


I / We declare that I / We have read and understood the Bank's Terms and Conditions and have agreed to be bound by them by signing the Customer Relationship Form and Acceptance thereof. I / We confirm having received a duplicate copy of the Form and a copy of the Terms and Conditions.

I / We further agree to abide by any amendment(s) to the said General Terms and Conditions applicable to any accounts made by Faysal Bank Limited from time to time and by any regulations, directions and circulars issued by the State Bank of Pakistan.

I / We agree to provide all such documents which Faysal Bank Limited may require for opening this Account(s) or for the subscription of additional facilities.

Funds Transfer through Alternate Channels


97. The CARD HOLDER's Account will be debited by the Bank on receipt of a Funds Transfer request made vide the ATM or any ALTERNATE CHANNEL.

98. The CARD HOLDER shall ensure that the particulars of the Funds Transfer request are complete and correct so as to enable a successful transfer of funds from his / her Account into the beneficiary's Account.

99. Any Funds Transfer request submitted by the CARD HOLDER shall be irrevocable and deemed correct and binding on the CARD HOLDER and payment shall be made to the beneficiary's Account based on the account number given by the CARD HOLDER.

100. While making a Funds Transfer on ATM or any ALTERNATE CHANNEL, if the funds were not transferred to the destined Account as per the transfer request, then the CARD HOLDER will submit a claim for the respective amount with the Bank. The Bank will only reverse the entry for the claimed amount after verifying such claim with the Bank's respective records, and if the claim is submitted by the Customer within a period of 6 months from the date of transaction.

101. While making a Funds Transfer on ATM or any ALTERNATE CHANNEL the responsibility for entering the correct account number and other details will be that of the Customer. The Bank shall not be responsible for the entering of incorrect account number on the part of the CARD HOLDER, but in the event of the CARD HOLDER requesting a reversal and admitting to entering the incorrect account number the Bank may at its discretion and as per its policies and procedures, reverse the transfer. However, notwithstanding the above, it is clarified that the Bank shall only make the reversal if it is first able to recover the amount from the beneficiary and the receiving Bank.

Securities
55. I / We agree that the Bank shall not be liable to purchase such securities as may be indicated by me / us to the Bank from time to time, unless sufficient funds for the purpose are available in my / our Account.

56. I / We agree that the Bank shall not credit my / our Account with any funds, until such time as proceeds of securities, as I / we may request the Bank to encash on my / our behalf, from time to time, are received at the Bank.

57. I / We hereby agree to indemnify the Bank against any loss suffered by or claim received against the Bank, in relation to or as a consequence of the purchase or encashment of securities by the Bank, on my / our behalf from time to time

References
Mam UMAIMA Gul Operating manager Main Branch D.G.Khan HR Manager Main Branch D.G.Khan

Usama Masud

www.faysalbank.com.pk