DEDICATION

Dedicated to my Loving Parents, Brothers, respected teachers and Supporting Friends who always helped out? In times of woe and Distress & Taught me to follow the Path of Truth, Justice, Honesty and Sincerity

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ACKNOWLEDGEMENTS
To begin with all praises are for the Almighty Allah, to whom I am most humbly and meekly grateful for giving us the opportunity and courage to undertake this work and carry it successfully to completion. All respects for this Holy Prophet HAZRAT MUHAMMAD (P.U.B.H) ourselves. It is great pleasure for me to acknowledge our deepest sense of gratitude and humble thanks to my worthy ARAIN” baseline branch for manager kind in “Mr. enough the IRFAN to AHMED his this of being extend who enlighten our minds to recognize

guidance

completion

internship program. I also pay special thanks to all staff of Meezan BANK LTD BIN QASIM BRANCH for their special help and co-operation during the preparation of the report. Especially thanks these persons. Mr. IRFAN AHMED ARAIN (B.M) Mr. ANWAR SAEED (O.M) Mr. SARFARAZ ALI MALIK Mr. JAMIL-UR-REHMAN Mrs. SHENEELA NEELUM

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Dedicated to Islamic Banking
Meezan Bank is Pakistan's first scheduled Islamic commercial bank, and operates strictly Under the principles of Islamic Shariah

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In January. Cash section performs cash related function like receipt of cash. 1997. . 2002 in an historic initiative. It started operations as an investment bank in August of the same year. General sections banking which department are Cash is concerned with daily operation of the branch. Remittance section and fixed deposit section. MBL one of the best domestic bank of Pakistan. Remittance section performs transferring of funds from one branch to another or from one account to another. This department is divided into four section. the State Pakistan. It is listed on all the stocks exchanges in Pakistan. Clearing section. According to the department internship program I completed my eight weeks internship at MBL BIN QASIM BRANCH.EXECUTIVE SUMMARY Meezan is a publicly listed company first incorporated on January 27. Clearing section performs the clearing of cheques for collection. INTERNSHIP IN MBL BIN QASIM BRANCH -4- . Meezan Bank was granted the nation's dedicated first to full-fledged Islamic commercial by banking license Bank of Banking. The bank’s registered office and principal office are situated The adoption of new technology and offering new products has made. payment of cash and collection of utility bills.MBL is incorporated in Pakistan and engaged in Islamic and commercial banking.

Non fund base finance include letter of credit and guarantees like performance guarantees. MBL offer two types of loans or finances. cash finance and staff finance.Credit department issues short term and long-term loan. mobilization guarantees shipping guarantees. Funds based finances include running finance. INTERNSHIP IN MBL BIN QASIM BRANCH -5- . fund based finances and non-fund based finances. demand finance. bid bonds and security deposit guarantees.

HISTORY OF ISLAMIC BANKING IN PAKISTAN 1947 The inception of Pakistan as the first Islamic Republic created in the name of Islam.INTRODUCTION A bank is a financial institution that accepts deposits and channels those deposits into lending activities. This was the first step in the conception towards Pakistan’s Constitution. 1956 INTERNSHIP IN MBL BIN QASIM BRANCH -6- . Banks primarily provide financial services to customers while enriching investors. 1949 The Objectives Resolution was adopted by the first Constituent Assembly based on the ideology of a sovereign Islamic state.

1985 INTERNSHIP IN MBL BIN QASIM BRANCH -7- . 1962 The establishment of Council of Islamic Ideology (CII) was followed by the conception of the second constitution of Pakistan. he also started deduction of Zakat from bank accounts in Islamic prospect. In this period President Zia ul Haq imposed profit and loss sharing accounts as a compulsion instead of interest bearing accounts. 1980 CII presents report on the elimination of Interest genuinely considered to be the first major comprehensive work in the world undertaken on Islamic banking and finance.The first Constitution defined Islam as State Religion and all laws to be according to the injunction of the Quran and Sunnah. 1973 The third constitution of Pakistan was passed allowing comprehensive legislation on Islamic principles and establishment of Federal Shariat Court.

The Government and some banks/DFIs made appeals to the Shariat Appellate Bench (SAB) of the Supreme Court of Pakistan. & 2. foreign currency deposits in Pakistan and on lending of foreign loans continued as before. INTERNSHIP IN MBL BIN QASIM BRANCH -8- .Commercial banks transformed their nomenclature stating all Rupee saving accounts as interest-free. However. 1991 Procedure adopted by banks in 1985 was declared unIslamic by the Federal Shariat Court (FSC).ALBARAKA ISLAMIC BANK. In 1991 thsese two new Islamic banks started their operations in Pakistan.AL FAISAL ISLAMIC BANK. 1.

INTERNSHIP IN MBL BIN QASIM BRANCH -9- .INTRODUCTION TO MEEZAN BANK LTD MEEZAN was established as an Islamic Investment Bank in 1997 as “AL MEEZAN INVESTMENT BANK LTD”. The banking sector is showing a significant paradigm shift away from traditional means of business and is catering to an increasingly astute and demanding financial consumer who is also becoming keenly aware of Islamic Banking. Meezan Bank bears the critical responsibility of leading the way forward in establishing a stable and dynamic Islamic Banking system replete with dynamic and cutting-edge products and services. Meezan Bank stands today at a noteworthy point along the evolution of Islamic Banking in Pakistan. to start the commercial banking facilities they bought the local operations of “Socite General” (French Bank) 03 branches and started the commercial Islamic banking in the country. After the successful completion and great struggle First Islamic Commercial Bank’s license was awarded to Al Meezan Investment Bank in year 2002.

and in doing so has established a strong and credible management team comprised of experienced professionals. At the same time. a long-term entity rating of A+. within an atmosphere and culture of dedicated service and recognition of their needs. Providing our customers accessibility and convenience is a prime target. Current & Saving Accounts. which have achieved a strong balance sheet with excellent operating profitability. We believe in adding value to our customers' lives and businesses through dynamic and competitive products and services that fulfill their needs while conforming completely to the dictate of Shariah. and a short-term entity rating of A1+. The Bank has a rapidly growing branch network across all major cities nation-wide. including a capital adequacy ratio that places the Bank at the top of the industry. 9am to 5pm Online Banking. the highest short-term rating. INTERNSHIP IN MBL BIN QASIM BRANCH . we endeavor to deliver competitive risk adjusted returns to our stakeholders The dedicated Customer Services Officer in banking area will provide consultancy for a full range of our Halal banking services including. Consumer Financing and 24/7 banking services. Term Certificates.10 - .The Bank has made fundamental and significant progress forward.

NORTHERN REGION OTHER ACHIEVEMENTS: Best Islamic Bank 2005 (Islamic Finance News) Best provider of Islamic financial services year 2005 INTERNSHIP IN MBL BIN QASIM BRANCH . Meezan Bank has established 201 branches in 54 cities across Pakistan. Meezan Bank team continues to build on its Vision of establishing "Islamic Banking the Banking of First Choice". One of the key objectives of the Bank is to have its footprint strategically placed throughout the country enabling the public to avail the benefits of Shariah Compliant Banking in their neighborhood. 1.11 - . The Bank is currently segmented into three Regions of Pakistan.Meezan's Branch Network ALHAMDOLILLAH. With this extensive network. SOUTHERN REGION 2. our existing and potential customers are now closer than ever in attaining Islamic Banking at their doorstep. As the first and largest dedicated Islamic Bank in Pakistan. This is a milestone that is not only the success story of Meezan Bank but also the continuing success story of Islamic Banking in Pakistan.CENTRAL REGION 3. All branches provide real time online banking facilities to customers.

while optimizing the stakeholders value through an organizational culture based on learning. INTERNSHIP IN MBL BIN QASIM BRANCH . respect for individual enterprise and performance. Mission Statement To be a premier Islamic bank.12 - . providing a strong foundation for establishing a fair and just society for mankind. fairness.Vision Statement Establish Islamic banking as banking of first choice to facilitate the implementation of an equitable economic system. Service Quality Mission To develop a committed service culture which ensures the consistent delivery of our products and services within the highest quality service parameters. promoting Islamic values and ensuring recognition and a quality banking experience to our customers. offering a one-stop shop for innovative value added products and services to our customers within the bounds of Shariah.

) Ltd Shamil Bank of Bahrain E.13 - INTERNSHIP IN MBL BIN QASIM BRANCH . Others Paid up capital 100 1. The members of the Shariah Board are:    Justice (Retd. Abdul Sattar Abu Ghuddah Sheikh Essam M. In Millions Shariah Board The members of the Shariah Board of Meezan Bank are Internationally-renown scholars.C Islamic Development Bank Jeddah Noor Financial Investment Co. Ishaq .134 527 190 134 396 3780 30 26 09 16 19 Rs. serving on the boards of many Islamic banks operating in different countries.SHAREHOLDING STRUCTURE SHAREHOLDING % Pakistan Kuwait Investment Company (Pvt.) Muhammad Taqi Usmani Dr.

T.Khan Road. Sheikh Ebrahim Bin Khalifa Al-Khalifa (Chairman) (Undersecretary. Pakistan Ph: (9221)5610582. Muhammad Imran Ashraf Usmani . Ministry of Finance & National Economy. M. Kingdom of Bahrain) Naser Abdul Mohsen Al-Marri (Vice Chairman) Irfan Siddiqui (President & Chief Executive Officer)    Istaqbal Mehdi  Mohammed Abdul-Rehman Hussain  Nawid Ahsan  Ariful Islam (Chief Operating Officer)  Rana Ahmed Humayun  Mohammed Azzaroog Rajab  Ahmed Abdul Rahim Mohamed Main office 3rd Floor. E-mail: info@meezanbank. Dr. PNSC Building. E.com INTERNSHIP IN MBL BIN QASIM BRANCH . Karachi-74000.14 - . Fax: (9221)5610375 24/ 7 Call Centre 111-331-331.Shariah Advisor Board of Directors  H.

com.abl.nbp.com.bankalfalah.pk • Askari Bank Ltd www.com.com.15 - .pk • Allied Bank Ltd (ABL) www.com.ubl.askribank.pk • Untied Bank Ltd (UBL) www.pketc Major Competitors of Islamic Banks • Albarka Islamic bank • Bank islami • Dubai Islamic bank Pakistan ltd.Competitors of Meezan Bank • Al-Falah Bank Ltd www. INTERNSHIP IN MBL BIN QASIM BRANCH .pk • National Bank of Pakistan (NBP) www.

Limited companies. associations.OPERATIONS DEPARTMENT 3.CASH DEPARTMENT 1- ACCOUNT OPENING DEPARTMENT department.• Emirates global Islamic bank limited DEPARTMENTS & THE PRODUCTS OFFERED AT THE BRANCH There are 5 main departments at the branch: 1.ACCOUNT OPENING DEPARTMENT 2. firm (partnership/proprietorship). INTERNSHIP IN MBL BIN QASIM BRANCH .16 - .CREDIT DEPARTMENT 4.TRADE FINANCE DEPARTMENT 5. Autonomous corporations. The bank’s customers includes Account opening and closing is the function of customer services individuals (single or joint). Educational Institutions or local bodies. Charitable Institutions.

The profit earn on this pool is calculated every month. and if you maintain a minimum average monthly balance of Rs. The deposits of the customers together with the bank’s contribution are invested in a pool that consists of Ijarah and Murabaha financing. Meezan Bank is pleased to offer RIBA FREE Current Account.10. 000/.17 - .you shall be eligible to receive profits that will be disbursed to you every month. But if your balance is less than 10000 then u get no profit or no INTERNSHIP IN MBL BIN QASIM BRANCH . a flexible Rupee based account that is ideal for businesses and individuals looking for Shariah compliant banking and professionalism under one roof.Brief Explanation of these accounts are as follows: Products offered by this department: a) Riba Free Rupee Savings Account  Current account  Saving Account b) Riba Free Dollar Savings Account  Foreign Currency Account a) RIBA FREE-RUPEE SAVING ACCOUNT As a step towards the mission of providing a one-stop shop for innovative value added products to our customers.

only b) Riba Free Dollar Savings Account The return earns on the Mudarba pool is calculated every month and profit ratio is declared for all investors is declared at the beginning of the month. The money kept in current account is in the form of CARZ-E-HASNA gives the advantage for paying debts by the convenient and safe means of sending cheques through the post thus avoiding the trouble and loss.000/.18 - . Requirements: Mini deposit::::::::::::::::::::: $100 under Mudarba arrangement. If you maintain a minimum average monthly balance of $500. you shall be eligible to receive profits that will be disbursed to you every month.10. there is no fixed profit b/c every month new rate declared.penalty is charges to u. INTERNSHIP IN MBL BIN QASIM BRANCH . Requirements: Mini deposit::::::::::::::::::::::::::::::::::::: Rs. CURRENT ACCOUNT Current account is basically used to meet the daily transactions.

Whenever a client comes in the bank in order to open an account the first information that is given to him/her about the types of accounts. which can be opened. so far this purpose the client is given detailed information about the accounts and their respective profit rates.BASIC OF ACCOUNT OPENING Account opening is the basic and first relationship.19 - INTERNSHIP IN MBL BIN QASIM BRANCH . TYPE OF ACCOUNTS OPENED  CURRENT  SAVING  TERM DEPOSIT Sub-categories of Accounts and the Basic Requirements: MINOR ACCOUNT  Copy of B form/birth certificate . the relationship b/w the bank and the customer shall be based on the principles of MUDARABAH where the customer is the RAB-UL-MAAL and the bank is the MUDARIB. In account opening extreme care has to be exercised in case of completion of account opening documentation.

Requirements:  National Identity card of all Applicants.20 - . The minimum number of persons required to open a joint account is two but there is no maximum limit.  The options available to operate the account are:  Jointly  Either or Survivor  Other(s)(Please specify) CLUB/SOCIETY/ASSOCIATION/TRUSTS ACCOUNTS/ [Requirements]: INTERNSHIP IN MBL BIN QASIM BRANCH .  Zakat Affidavit of all Applicants (zakat Examption). National Identity card of Guardian  Signature requirement of guardian  Valid proof of source of guardian INDIVIDUAL ACCOUNT  Copy of national identity card  Any job/business proof JOINT ACCOUNTS As evident from the name these accounts can be jointly opened by any number of persons.  Operation of account clearly mentioned.  Any job/business proof of all account holder  Signature of all Applicants.

• • • • • Copy of registration certificate Board resolution Copy of rules/regulation Copies of CNICs of all members of management body Undertaking to immediately inform about any changes.  copies of NIC of all partners. ACCOUNT OF PARTNARSHIP (Requirements)  Partnership Deed attested copy duly signed by all partners.21 - . INTERNSHIP IN MBL BIN QASIM BRANCH .  Authority letter. CORPORATE ACCOUNTS ACCOUNTS OF SOLE PROPRIETOR (Requirements)  Copy of NIC/Passport of the proprietor  Copy of NTN Certificate  Account opening request & proprietorship letter on firm letterhead. • List of executive members or management committee/management board etc.

the right hand thumb impression and for women. For men.  Article of Association.  Board Resolution. Account opening request on firm letterhead.  Attested copy of registration certificate with registrar of the firms.  Memorandum of Association. which is to be affixed on account opening form.) ACCOUNTS OF LITERATE [Photo Account] These accounts can be opened individually or jointly. the INTERNSHIP IN MBL BIN QASIM BRANCH .  Copy of certificate of Incorporation.  Latest Copy of Form-29  Stamp of Company.  Certificate of Commencement of Business(for public limited co.  NIC of all Directors and signatories. ACCOUNT OF LIMITED COMPANIES (Requirements)  List of Directors of company. the left hand thumb impression is taken on account opening form.22 - .

Requirements:  Photocopy of NIC of Account Holder. NRP ACCOUNTS • NICOP/CNIC • Visa/passport COPY • Job/business proof THINGS TO BE CONSIDERED BEFORE OPENING AN ACCOUNT  Verification of the customers’ credentials.  State Bank’s rules and regulations.  The suitability of the prospective customer.  Two.passport size photographs.The customer is given advice to come to bank himself in order to withdraw any cash or deposit the cheque. PROCEDURES FOR ACCOUNT OPENING INTERNSHIP IN MBL BIN QASIM BRANCH .  The prospective profitability of the relationship.  The Bank’s own policy.23 - .

Filling of deposit slip to deposit cheque/cash and copy of deposit slip After fulfilling all the formalities of account opening. the computer generated account number is given to the customer that is of special series depending on the type of account. Because its included in MBL policy. Then forwarded to BM and then BM satisfy from customer then the account opening form is got filled from the customer and signed it. Chequebook is issued after the activation of the account but it is necessary to customer when he/she will come to take chequebook . come with letter of thanks. This letter tells all the information regarding his/her account. INTERNSHIP IN MBL BIN QASIM BRANCH . LETTER OF THANKS After opening the account “A Letter Of Thanks” is send to the customer in order to thank the customer for opening an account in the Bank. purpose of the account and any job/business proof.First of all.24 - . the customer is also signed two Specimen Signatures Cards and attached all requirement documents as well. inquiring from the customer what type of account he/she wants to open. Then the officer will issue the chequebook. which are kept very confidential. Along with the account opening form.

Overall functions performed by Customer Services Department:  ACCOUNT OPENING  ACCOUNT CLOSING  EDIT/DEL INFORMATION REGARDING ACCOUNT  GENERAL CLIENT DEALING INTERNSHIP IN MBL BIN QASIM BRANCH .ACCOUNT OPENING REGISTER After an account is opened. which has the following columns:  Date  Account Number  Name & Address  Telephone Number  Initial Deposit Customer Services/Relation Officer enters the new account opened in computer and the Specimen signature Cards are also scanned so that whenever a cheque of the respective account comes for encashment.25 - . an entry is made in the account opening register. the signatures can be verified.

the bank receives its own cheques.26 - .If customer wants to close the account so customer will fill the account closure form and then officer posting in system then supervise as well. And then officer posting in system and supervise by operation manager. If customer wants to edit information regarding account so customer will fill the customer instruction form. which have been presented by the customers in some other bank to be deposited in their account. 2-OPERATIONS DEPARTMENT FUNCTIONS PERFOMED: a) CLEARING b) REMITTANCE a) CLEARING  Inward clearing  Outward clearing INWARD CLEARING In the morning. NIFT provides the facility of bringing cheques for inward and also takes the cheques of outward clearing to other banks. The cheques received in INTERNSHIP IN MBL BIN QASIM BRANCH .

if their balances are up to the mark then that cheque is cleared and the respective customer account is debited with the respective amount. INTERNSHIP IN MBL BIN QASIM BRANCH .inward clearing are the cheques drawn on bank and the bank has to pay for them.27 - . For this purpose the bank makes clearing in computer by checking the balances of the respective customer. If the balances are short then that cheque is bounced back to the related bank. STEP STEP STEP STEP STEP STEP STEP 1: 2: 3: 4: 5: 6: 7: NIFT-BAG CHEQUES SCRUTINY POSTING IN SYSTEM SUPERVISION/AUTHORIZATION CHEQUES RETURN RETURN MEMOS+BUNDLE COVER NIFT-BAG Reasons for returning a cheque: • All required stamps of Clearing. Crossing and Endorsement are not present on cheques. • Refer to drawer • Effects not cleared. may be presented again • Amounts in words and figures differ. • Cheque is post date.

Dr.28 - . In outward clearing. Then the report of returning any cheque is sent through fax to the head office Karachi.If any of these reasons exists then that cheque is returned through NIFT and deducts charges from customer’ account as cheque returned charges. This is said as outward clearing because they are presented on the very next day after depositing a cheque. the entry is made like: Customer Account State Bank of Pakistan INTERNSHIP IN MBL BIN QASIM BRANCH Cr. . After this put the entry in Cheque return register showing the following columns:  Date  Title of account  Account number  Cheque number  Bank and Branch name  Reason to return OUTWARD CLEARING: All the cheques of other banks which are deposited to MBL are presented in outward clearing.

29 - . affix transfer stamp in the middle of the cheque. After making transfer entry in the computer. crossing on the upper left and signature verified stamp with senior officer signature near to customer signature. ISSUING CHEQUES BOOKS I. address and other information he tells the balance through computer. TRANSFER OF AMOUNT If a MBL customer wants to transfer money from one account to other MBL account. II. INTERNSHIP IN MBL BIN QASIM BRANCH .This entry is made when we come to know about the clearing of all cheques. customer writes a cheque and fills deposit slip in which he/she writes account number to which amount is to be transferred. TRANSFER OF AMOUNT II. which are sent to other banks. TELLING ACCOUNT BALANCES Whenever clearing officer receives phone call from the customer inquiring about his/her account balance after confirming the name. Then senior officer-1 will authorize this entry. SERVICES PROVIDED I. TELLING ACCOUNT BALANCES III.

• ISSUE THE CHEQUEBOOK THEN AUTHORIZE BY OPERATION MANAGER.30 - .III. ISSUING CHEQUE BOOKS It is also the duty of department to issue a chequebook when an officer receives request from the customer. B. REMITTANCE a) Pay order b) Demand drafts c) Inward collection d) Outward collection a) PAY ORDER: INTERNSHIP IN MBL BIN QASIM BRANCH . STEPS OF CHEQUE BOOK WHEN POSTING IN SYSTEM T-24: • REQUEST FOR NEW CHEQUE BOOK THEN AUTHORIZE BY SENIOR OFFICER. • MARK CHEQUEBOOK BUT INACTIVE THEN AUTHORIZE BY SENIOR OFFICER.

Pay order is an order to pay money but this payment is to be made within city. The data is entered in already set format of pay order in computer and pay order print out is taken.31 - . account number. In other words it can be said that the payee and the payer should be in one city. DD can be for a customer who may or may not have INTERNSHIP IN MBL BIN QASIM BRANCH . beneficiary name. address. etc. In pay order the payment can be made in A) Cash B) Clearing C) Transfer PROCEDURE: In case of pay order first of all the customer has to fill a pay order application form in favoring section: name. b) DEMAND DRAFT An order to pay money to the payee who is residing outside the city. The original copy of the pay order is given to the customer and carbon copy is kept with bank for office record. An authorized person and manager operations are signed pay order. amount.

then those have been dealt as inward collection.an account in the bank but the other person’s account must be maintained with the bank for which the payer has demanded the DD. an entry is made in inward collection register and then all stamps are affixed on the cheque (clearing.32 - . PROCEDURE After receiving the cheque. endorsement. On the next evening after the delivery of clearing cheques make reversal entry like Remittance Payable INTERNSHIP IN MBL BIN QASIM BRANCH Dr. . IC # stamp) and make outward clearing voucher which shows the following entry: Remittance payable Cr. c) INWARD COLLECTION When the bank receives cheques of any other bank from its any branch situated in the some other city.

INTERNSHIP IN MBL BIN QASIM BRANCH . A customer wishing to allow another person or agent may be requested to open a new locker account under joint names and close the existing account.Respective Branch Cr. creditability and good reputation of the customer is of utmost importance in the selection of customer for lockers. It is reiterated that honesty. OTHER FUNCTIONS UNDER OPERATIONS DEPARTMENT LOCKERS Lockers operations shall not be permitted under power of attorney of a customer. In offering this facility branches have to be selective and should provide lockers to the customers whose identity and integrity is verified. Also make a fax message to inform the respective branch that we have credited their nostro account. who should maintain account with the branch and have potential for deposits and other banking business.33 - .

34 - .KEY FEATURES:  Available in selected branches  Available in 3 sizes  For all eligible Account Holders  Key security Deposit Procedure  Application on Prescribed Form duly filled  Saving/Current Account with MBL  02 Passport size Photographs PKR 3000 Charges  Key Deposit  Small  Medium  Large PKR 3000/ PKR 1000/Year PKR 1500/Year PKR 2000/Year  Locker breaking charges Rs 3000 Cheque Books Handling  Application for New Cheque Book INTERNSHIP IN MBL BIN QASIM BRANCH .

35 - .CHARGES  PKR 03/Leaf for Saving Account Cheque Book  PKR 01/Leaf for Current Account Cheque Book  PKR 01/Leaf for FCY Account (No Charges for Cheque Books of Karobari Munafa Account) RIBA FREE TERM DEPOSITS OFFERED BY BANK  Certificate of Islamic Investment  Monthly Mudarabah Certificates  Dollar Mudarabah Certificates  Meezan Amdan Certificates  Meezan Providence Certificate Certificate of Islamic Investment Riba-Free Certificate of Islamic Investment (COII) works INTERNSHIP IN MBL BIN QASIM BRANCH .

the Customer is an Investor (Rab ul Mal). Tenor  3 Months  6 Months  1 Year  2 Years  3 Years  5 Years Profit Payment Options 3 Months on maturity . but are not restricted to. the customer enters into a relationship. and the Bank is the Manager (Mudarib) of the funds deposited by the customers. with Meezan Bank. The bank allocates the funds received from the customers to a deposit pool. These funds are utilized to provide financing to customers under Islamic modes that include. Under this relationship.under the principles of Mudarabah and is strictly in conformity with the rules of Islamic Shariah. Murabaha and Ijarah. On agreeing to become a COII holder.36 - INTERNSHIP IN MBL BIN QASIM BRANCH . based on Mudarabah.

if extra profit is paid that will be recovered  No pre-mature encashment penalty in MBL Payment of Premium Bank pay premium from its own share of profit to high depositors.37 - . Premium Rate 5M 10M 30M 50M+ 9. Pre-mature encashment In case of pre mature encashment the profit rate will be calculated according to the completed tenor.6 months 1 year 2 year 3-5 year on maturity monthly or quarterly min investment 200K monthly or quarterly min investment 200K monthly or quarterly min investment 200K There will be different rate of profit according to the profit payment option and amount and tenor.25% 1.99M 49.99M 29.99M 1% 1.50% 2% INTERNSHIP IN MBL BIN QASIM BRANCH .

 Profit calculated on daily basis and paid monthly  No minimum balance requirement  No restriction on deposit/withdrawals  Free Cheque Books. the Customer is an Investor (Rab ul Mal). On agreeing to become an account holder. Pay Orders and Online Banking  Dedicated Account/Relationship  High return for high depositors INTERNSHIP IN MBL BIN QASIM BRANCH . The bank allocates the funds received from the customers to a deposit pool. Murabaha and Ijarah. These funds from the pool are utilized to provide financing to customers under Islamic modes that include.38 - . but are not restricted to. the customer enters into a relationship based on Mudarabah with Meezan Bank. Under this relationship. and the Bank is the Manager (Mudarib) of the funds deposited by the customers.Karobari Munafa Account Riba-Free Karobari Munafa Account works under the principles of Mudarabah and is strictly in conformity with the rules of Islamic Shariah.

39 - . Monthly Mudarabah Certificates RibaFree Monthly Mudarabah Certificates is a flexible investment product which has been designed to give you a monthly return which is Halal. How Monthly Mudarabah Certificates works? Riba-Free Monthly Mudarabah Certificate (MMC) works under the principles of Mudarabah and is strictly in conformity with the rules of Islamic Shariah. The minimum investment required is only Rs.000 and you receive profit for each complete month of investment with the Bank. the Customer is an Investor (Rab ul Mal). These funds from the pool are utilized to INTERNSHIP IN MBL BIN QASIM BRANCH . the customer enters into a relationship based on Mudarabah with Meezan Bank. On agreeing to become a MMC holder. and the Bank is the Manager (Mudarib) of the funds deposited by the customers. The bank allocates the funds received from the customers to a deposit pool. Other requirements are mentioned in detail in appendix. Under this relationship. 100.

Murabaha and Ijarah. INTERNSHIP IN MBL BIN QASIM BRANCH . the customer enters into a relationship based on Mudarabah with Meezan Bank.40 - . Under this relationship. Features:  Minimum requirement of PKR 100K  Profit disbursement on maturity  Tire system for profit payment (Refer Rate Sheet)  No payment on premature encashment  Other details n requirements are mentioned in detail & appendix. and the Bank is the Manager (Mudarib) of the funds deposited by the customers. but are not restricted to. Dollar Mudarabah Certificates On agreeing to become a DMC holder. the customer is an Investor (Rab ul Maal).provide financing to customers under Islamic modes that include.

INTERNSHIP IN MBL BIN QASIM BRANCH .The Bank allocates the funds received from the customers to a deposit pool. Requirements:  In USD only  Individuals and Corporate  Minimum investment 10K and above Tenor:  3Months  6Months  1Year  3Years Profit payment Options:  3Months  6Months  1year  3years appendix. These funds from the pool are utilized to provide financing to customers under Islamic modes that include. Murabaha and Ijarah.41 Maturity Maturity 6 Monthly or Maturity 6 Monthly or Maturity  Other details n requirements are mentioned in detail & . but are not restricted to.

Features: INTERNSHIP IN MBL BIN QASIM BRANCH . the customer is an Investor (Rab ul Maal). The Bank allocates the funds received from the customers to a deposit pool. Working The Riba-Free Meezan Aamdan Certificate (MAC) works under the principles of Mudarabah and is strictly in conformity with the rules of Islamic Shariah. Murabaha and Ijarah. the customer enters into a relationship based on Mudarabah with Meezan Bank. Under this relationship. and the Bank is the Manager (Mudarib) of the funds deposited by the customers. MAC is a monthly income (mahana aamdani) certificate with a variety of free packaged benefits. These funds from the pool are utilized to provide financing to customers under Islamic modes that include. but are not restricted to.42 - . On agreeing to become a MAC holder.Meezan Amdan Certificates The Riba-Free Meezan Aamdan Certificate (MAC) is a longterm deposit certificate with an exceptionally high monthly profit designed especially for those individuals and corporations who are in need of regular stream of monthly income.

On agreeing to become a MPC holder. Long Term Product  Tenor 5-1/2 years & 7 years  Profit 9. How Meezan Providence Certificate works? Riba-Free Meezan Providence Certificate (MPC) works under the principles of Mudarabah and is strictly in conformity with the rules of Islamic Shariah.  Min. Under this relationship. the customer enters into a relationship based on Mudarabah with Meezan Bank.5% 10. deposit 01 Million INTERNSHIP IN MBL BIN QASIM BRANCH . the Customer is an Investor (Rab ul Mal).50% (Last month)  For Individuals and Corporate  Minimum deposit PKR 100 K  (50K for old citizens and widows) Meezan Providence Certificate (MPC) A long-term investment product specially designed to cater to the needs of corporate and business concerns for purposes of investing their Provident.43 - . and the Bank is the Manager (Mudarib) of the funds deposited by the customers. Pension and Gratuity Funds.

Meezan Bank allocates the funds received from the Islamic Banks to a deposit pool consisting INTERNSHIP IN MBL BIN QASIM BRANCH . All eligible Islamic Banks can enter into a Mudarabah relationship with Meezan Bank. the respective Islamic Banks are the Investors (Rab ul Maal). by maintaining a checking account with Meezan Bank. any IFI now has the opportunity to manage excess liquidity in an immediate and profitable manner. Under this relationship. tailored exclusively for Islamic Financial Institutions (IFIs).44 - . With MIIDA.Tenor  5 Years  7 Years Other options:  Provident and Pension Fund of large corporate  Premature encashment facility available Meezan Islamic Institution Deposit Account The Meezan Islamic Institution Deposit Account (MIIDA) is a unique product. and Meezan Bank is the Manager (Mudaarib) of the funds deposited by them.

45 - . Murabaha and Ijarah. investment PKR 10 M and multiplies there of  Max investment 01 B  Other details n requirements are mentioned in detail & appendix.CASH DEPARTMENT The cash department is the most important department of the bank. It receives cash from customers and then deposits INTERNSHIP IN MBL BIN QASIM BRANCH . Features:  For Islamic Financial Institutions deposit  To invest their access liquidity  Min. 3.of financing under Islamic modes that includes. but is not restricted to.

it into the accounts of the customers and maintained their balances. PAYING CASH BOOK The cashier makes entry in the paying cashbook when cash is paid.CREDIT / FINANCE DEPARTMENT Islamic Financing for the following:  Corporate INTERNSHIP IN MBL BIN QASIM BRANCH . In cash department following books are maintained.  Scroll book  Paying book  Cash balance book SCROLL BOOK When cash is received at the customer it is recorded in the scroll book.46 - . 4. CASH BALANCE BOOK The consolidated figure of receipt and payment of cash is entered in cash balance book.

which had been agreed. you become the sole owner with a free and clear title to the property. where the Bank will provide financing up to 85%. SME  Personal PERSONAL FINANCING Diminishing Musharaka (Islamic Financing) With Easy Home you can participate with Meezan Bank in a joint ownership of your property. INTERNSHIP IN MBL BIN QASIM BRANCH . and another for your equity share. When you have made the full investment. The total monthly payment is reallocated regularly by the partnership to reflect your growing equity and to allocate increasing amounts to your investment. On agreement of a monthly payment to the Bank of which a component is for the use of the home (rent).47 - . Easy Home Easy home works under the Diminishing Musharakah where customer participates with Meezan Bank in joint ownership.

Finance 70% Renovation  2-7 year  Max Finance 85% Replacement  3-20 year Eligibility  Pakistani National  Age 25—65 (till maturity) INTERNSHIP IN MBL BIN QASIM BRANCH .Easy Home finance is available for: Purchase  3-20 year  Max.48 - . Finance 85% Construction  2-20 year  Max.

2000 Additional for above)  Time Frame 3-4 Weeks Other details are attached in appendix. Professional Experience Salaried person:  2 year of consecutive experience in same industry  Min salary 20 k per month Business  3 years business experience  Min. Car Ijara INTERNSHIP IN MBL BIN QASIM BRANCH .49 - . business income Rs 50K per month Processing Charges  Businessmen Rs 12500 Rs 8500  Salaried Person  (Up to Rs 4 M.

This product is ideal for individuals looking for car financing while avoiding an interest-based transaction.50 - .50% (For used) 15% 15.50% 18% (Local made) (Local+Imported) (1st Transfer only) 1% higher than normal for commercial+imported+used vehicle Eligibility: INTERNSHIP IN MBL BIN QASIM BRANCH .Ijara is a rental agreement under which bank purchase a vehicle and give the same on rent to customer Car Ijarah is Pakistan’s first "Interest Free" car financing based on the Islamic financing mode of Ijarah (Islamic leasing). Scope of Facility  Domestic Vehicle  Commercial Vehicle  Used/Imported Vehicle Rates offered: (For New)  3 year 14%  4 year 15%  5 year 16.

51 - . professional or businessperson  Minimum 3 years of work/business/professional experience  6 month working with present employer  Net income exceeds three times of monthly rental OTHER PRODUCTS OFFERED On line Real Time ATM  Free ATM Card  Per Day Limit of PKR 20K  Rs 15 charges for use of other ATM Network  Acceptable at all ATM outlets  Debit card at Orix out lets (PKR 50k/Day) On line Real Time Facility INTERNSHIP IN MBL BIN QASIM BRANCH .Pakistani National  Salaried individual. self-employed.

to 24/7 Call Center 24/7 call center provides you access to a wide range of Tele-banking solutions and personalized banking service. & 2:30p.m.  Friday 5:30p. saving & Karobari Munafa acc. Key Features  Check account balances  Instruct issuance of pay orders and demand drafts  Transfer funds between your own accounts  Order issuance of cheque book  Check transaction history of accounts  Receive information on MBL products and services INTERNSHIP IN MBL BIN QASIM BRANCH .52 - . Banking Facility at all MBL Branches for  Monday . to 12-30p. 9:00a. to 5:30p.m.m.m. Absolutely free from all branches of MBL  Collection of Cheques absolutely free  Available to PKR current.m.Thursday 9:00a.m.

Key Features  Balance inquiry  Statement viewing  Statement download  Cheque status  Cheque blocking  Pay order request  Complaint logging and follow-ups  Funds transfers between own accounts at MBL  Change of address request  Cheque book request INTERNSHIP IN MBL BIN QASIM BRANCH .53 - . Issue stop payment instructions  Report loss of your cheque book  Request or change T-PIN  ATM PIN Re issuance  Report loss of ATM/Debit Card or cheque(s) Internet Banking Internet Banking allow to have access to accounts regardless of where they may be in the world.

Alerts and Notification by E-mail and sms  Low/High balance alert  Credit/Debit transaction alert  Request resolution alert  Complaint resolution alert

INTERNSHIP IN MBL BIN QASIM BRANCH

- 54 -

SWOT ANALYSIS
Strengths:  Effective HR Policies.  ATM Machine in Branches.  One Counter Operation.  Islamic Banking.  Loyalty of Employees.

24/7 Online Banking.

 Internet banking facility.  Excellent Environment.  Efficient and Qualified Management.  Fewer Competitors as Islamic Banking.  A large range of Islamic Investment Schemes.  Islamic Leasing System.  No hidden charges.  Rates are remarkably low as compared to other banks.  Very High credit rating.

INTERNSHIP IN MBL BIN QASIM BRANCH

- 55 -

Weakness:  Lack of awareness of the people.  Less Advertisement.  Online system is not so strong. Opportunities:  More and more people are coming towards Islamic Banking System.
 

Introduction of innovative products. New Market Segments for ijara, i.e. Appliances Products. Open New Braches in other small areas. Home

Threats:

Islamic banks are Increasing. commercial banks are also introducing the Islamic Banking Facility.

 Traditional

 

Personal Loan Scheme of other banks. New Innovative Schemes by Other Islamic banks.

INTERNSHIP IN MBL BIN QASIM BRANCH

- 56 -

Bank should develop healthy relation to their  customers.SUGGESTION & RECOMMENDATIONS  Expanding their business by establishing new branches in those areas which are near to the business area. INTERNSHIP IN MBL BIN QASIM BRANCH .   MBL must take part in heavy advertisement as the people become aware of the Islamic banking System.  Bank should provide management training to their employees. The bank must hire the efficient marketing personnel.  MBL has the option to increase its customers through efficient marketing system.57 - .

Because it leads to the improvement of overall bank’s performance. FINANCIAL HIGHLIGHTS Balance Sheet as on March 31.58 - . 2007 INTERNSHIP IN MBL BIN QASIM BRANCH . MBL should give more compensations and benefits to its employees and other workers for the improvement in the performance.

2007 INTERNSHIP IN MBL BIN QASIM BRANCH .59 - .Profit and Loss Account as on March 31.

Cash Flow Statement as on Marc 31. 2007 INTERNSHIP IN MBL BIN QASIM BRANCH .60 - .

61 - .INTERNSHIP IN MBL BIN QASIM BRANCH .

865. Assets 2007 44.62 - .947 49. INTERNSHIP IN MBL BIN QASIM BRANCH .74 % Comments: Debt ratio basically shows that. It shows more debt financing as compared to previous year.438.264 46.623 89.FINANCIAL ANALYSIS AND COMMENTS DEBT RATIO: T. how much assets are financed by the debt.74 % and this year it is 90. From above information its obvious that. this ratio is 89.349 90. It shows that how much an investor is protected in case of default.822.05 %. in year 2006.05 % 2006 41.675. Debt T.

897 11.264 3.865. banks are totally depend on the debt. Due to this reason this ratio is very high in case of banks. One of these ratios can be used by the investor. it shows increase in debt financing as compared to equity. as we know that.779.63 - .897 11. This ratio is very high. However equity also make a part pf its total financing but its very little as compared to total debt.779.87 1187 % 2006 41.03 1103 % Comments: This ratio is an alternative to the debt ratio. Debt T.675. As this ratio increased gradually. It shows the basic ratio between debt and equity. INTERNSHIP IN MBL BIN QASIM BRANCH . Equity 2007 44.DEBT / EQUITY RATIO: T.947 3.

822. INTERNSHIP IN MBL BIN QASIM BRANCH .623 2007 190.391 % Comments: This ratio shows the efficiency of the total assets.RETURN ON ASSET [R.383 % 0. assets are not a big source of generating earnings.64 - .349 2006 181. and basic function is of debt and equity.A]: Net profit after tax T. Assets 46.438. means how much efficiently the company using its assets to earn its net profit. As we know that in banks. That’s why this ratio is decreased this year as compared to the previously.O.577 49.655 0.

577 2. rather than total profit.RETURN ON INVESTMENT [R.O. In this ratio it is obvious that profit ratio is increasing gradually as compared to previous years.554 2007 190.877. INTERNSHIP IN MBL BIN QASIM BRANCH .8 % 6.I] 2006 Net profit after tax Investment 2.3 % Comments: This ratio shows the return or net profit on the investments.033 181.655 6.65 - . Means how much profit the bank is making in terms of investments.811. And shows the better performance of the bank with the passage of time.

as a result.779.897 4.42 % 181.66 0.E]: 2006 Net profit after tax T.897 5.58 2007 .577 3. Equity 2007 190.80 % Comments: This ratio shows the profit in terms of equity.655 3.50 0. This profit is increasing gradually year after year as shown above. the return on the equity is increased.O. EARNING PER SHARE [EPS]: 2006 Net profit Total number of shares out standing Comments: INTERNSHIP IN MBL BIN QASIM BRANCH .RETURN ON EQUITY [R. As there is no change in total equity. but the profit ratio increased. It shows the efficient operations an allocation of resources.779.

All the necessary ingredients are already there. such INTERNSHIP IN MBL BIN QASIM BRANCH . These problems are mainly in the area of financing.EPS decreased this year. burdensome and sometimes doubtful forms of financing and offer a clean and efficient interest-free banking. The modified system will make use of only two forms of financing loans with a service charge and Mudaraba participatory financing both of which are fully accepted by all Muslim writers on the subject. it is decreased this year.67 - . Despite the successful acceptance there are problems. but due to increases no of shares outstanding. Additionally. With only minor changes in their practices. As net profit increased this year. there are Islamic banks in many Muslim countries and a few in non-Muslim countries as well. Islamic banks can get rid of all their cumbersome. OVERALL CONCLUSION Islamic banking is a very young concept. Yet it has already been implemented as the only system in two Muslim countries. EPS should also be moved respectively. Such a system will offer an effective banking system where Islamic banking is obligatory and a powerful alternative to conventional banking where both co-exist.

and can offer responsible financing to socially and economically relevant development projects. Participatory financing is a unique feature of Islamic banking. INTERNSHIP IN MBL BIN QASIM BRANCH . This is an additional service Islamic banks offer over and above the traditional services provided by conventional commercial banks.68 - .a system will have no problem in obtaining authorization to operate in non-Muslim countries.

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