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Allied Bank of Pakistan, Multan Cantt. Branch, Multan
Madam Sarosh Haneef
Muhammad Shakeel Asghar CIIT/FA05-MBA-017/LHR
COMSATS INSTITUTE OF INFORMATION TECHNOLOGY, JINNAH CAMPUS DEFENCE ROAD OFF RAIWIND ROAD, LAHORE
COMSATS Institute of Information Technology, Lahore
In the name of Allah, the Beneficent, the Merciful.
ِ ِ ّ ِ ْ ّ ِ ِْ ِ بسم ال الرحمن الرحيم َ ِ َ َْ ّ َ ّ ُْ َ ْ الحمد ل رب العالمين
The Beneficent, the Merciful.
All praise is due to Allah, the Lord of the Worlds.
ِ ِّ ِ ّْ الرحمـن الرحيم ِ ّ ِْ َ ِ ِ َ مالك يوم الدين
Master of the Day of Judgment.
Thee do we serve and Thee do we beseech for help.
ُ ِ َْ َ َ ِّ ُ ُْ َ َ ِّ إياك نعبد وإياك نستعين
Keep us on the right path.
َ َِ ُ َ َ ّ اهدنــــا الصراط المستقيم َِ َ ّ ّ َ َ ْ ِ ََ ِ ُ َ ِ َ ْ ِ ََ َ َ َ َ ِ ّ ِ َ ط صرا َ الذين أنعمت عليهم غير المغضوب عليهم ول الضالين
The path of those upon whom Thou hast bestowed favors. Not (the path) of those upon whom Thy wrath is brought down, nor of those who go astray.
COMSATS Institute of Information Technology, Lahore
COMSATS Institute of Information Technology, Lahore
ACKNOWLEDGEMENT I offer my humblest thanks to ALMIGHTY ALLAH, The most Beneficent and the Most Considerate and the entire source of all knowledge and wisdom. I thank ALMIGHTY, ALLAH, who gave me the capacity to do this project proficiently and productively . I faced a lot of difficulties during this period of developing internship report. But Allah gave me a lot of patience and due to the continuous encouragement of my teachers and other people concerned, I was able to complete this work. I offer my humblest respects to the HOLY PROPHET HAZRAT MUHAMMAD (Peace Be upon Him) who is, forever a torch of guidance and knowledge for humankind as a whole. It’s not very easy for me to find the right words to express my appreciation to our worthy advisor Md. Sarosh Haneef, her keen interest, in time and useful suggestions, continuous encouragement, lively supervision and kind behavior throughout my internship period. Apart from my respectable advisor, there are many other people who have been very helpful to me right from the beginning .I’d like to mention Mr. Akhlaq Ahmad Siddiqui, AVP/Manager ABL Multan Cantt., Mr. Abdul Sattar, Head of Online Section ABL Multan Cantt, Mr. Aziz Ahmad Khan, AVP at ABL Regional Office Multan, Mr. Zia at ABL Regional Office Multan. I also pay my regards to all others whose names can not be included due to the scarceness of space and time. At the end I’d like to thank Mr. Muhammad Asad Amin, my class fellow and my internship colleague as well, whose company was a cause of support and motivation, because without naming him this acknowledgement will be incomplete.
COMSATS Institute of Information Technology, Lahore
online transfer. 2006 and completed on August 30. Lahore 5 . I was rotated in different departments including clearing. 2006. and customers’ services COMSATS Institute of Information Technology. During my stay at the bank I learnt a lot as the practical knowledge of the banking sector is concerned. Mission and Core Values History of Allied Bank of Pakistan Organizational Structure SWOT Analysis Competitive Strategy Business Process Analysis Learning as an Internee New Knowledge Acquired Problems Encountered How Experience Impacts My Career Conclusion Annexes 03 04 05 09 11 18 21 32 34 39 40 41 42 Executive Summary My Internship at Allied Bank Limited Multan Cantt Branch started on July 20.TABLE of CONTENTS Executive Summary Vision.
I learnt the basics of operations performed in each department. but I got full attention from the concerned persons and they always encouraged me for asking any kind of question that rose during the course of my work.foreign exchange and advances departments. I faced some problems during this course. the manager gave his comments and evaluation of my work on the prescribed form provided by the institute and also certificate of internship. COMSATS Institute of Information Technology. Mission & Values Vision • To become a dynamic and efficient bank providing integrated solutions In order to be the first choice bank for the customers. I undertook some assignments that helped me apply the learnt techniques. I have been sending the reports of my progress on weekly basis to my internship advisor. Vision. Lahore 6 . On the last day.
COMSATS Institute of Information Technology. Lahore 7 . efficiency and diversity for all stakeholders • To provide a challenging work environment and reward dedicated team members according to their abilities and performance • To play a proactive role in contributing towards the society OLDEN TIMES of ALLIED BANK ABL was established in Lahore before independence in 1942 Allied Bank Limited is one of the largest banks in Pakistan with more than 700 Branches connected to an online network. In August 2004 the Bank was restructured and the ownership was transferred to Ibrahim Group. • To create sustainable value through growth.Values • • • • Integrity Excellence in service High performance Innovation and growth Mission • • To provide value added services to our customers To provide high tech innovative solutions to meet customers requirements.
0. was an exclusive enclave of the Hindus and it was widely believed. deposits exceed Rs. It was particularly a hard thing to swallow for Khawaka Bashir Bux to hear that “Muslims could not be successful bankers”. adaptation to changing environment resulting into all round growth and stability. PRE INDEPENDENCE HISTORY In the early 1940s the Muslim community was beginning to realize the need for the active participation in the field of trade and industry. Banking.572 million. Established in December 1918 with the name “Australasia Bank” at Lahore with a paid-up share capital of Rs. 170 billion.12 million under the Chairmanship of Khawaja Bashir Bux. COMSATS Institute of Information Technology. Today Allied Bank's paid up Capital & Reserves amount to Rs. the Bank had attracted deposits equivalent to Rs. Total assets then amounted to Rs. 0. The Hindus had since the late 1880s established a commanding presence in industry. 10. The Allied Bank's story is one of dedication.Overview Allied Bank is the first Muslim bank to have been established on the territory that became Pakistan. by the name of Australasia Bank Limited. that Muslims were temperamentally unsuited for this profession. Lahore 8 . He decided to respond to the challenge and took lead in establishing this first Muslim bank on the soil of Punjab that was to become Pakistan in December 1918. 143 billion and total assets equal Rs.5 billion. 0. in particular. and wrongly so. The bank has seen many phases of changes since it came into being.431 million in its first eighteen months of business. envied by many. commitment to professionalism. trade and commerce in the undivided Sub-continent.
The bank did well despite losing lot of its assets.728 million. Jhang.673 million and deposits raised to Rs 7. The bank was identified with the Pakistan Movement. Lahore 9 . Sialkot. Despite the difficult conditions prevailing and the substantial set back in the Bank’s business in India. By the end of 1973 the bank had 186 branches in West Pakistan. Jalandhar. which was raised to Rs 0. and by the end of 30th June 1947 capital increased to Rs.5 million by the end of first full year of operation. The Bank financed trade in cloth and food grains and thus played an important role in maintaining consumer supplies during riot affected early months of 1948. 0. Ludhaina. By the end of 1970 it had 101 branches. The first year was highly successful one: profit exceeded the Rs 10 million mark. (Amritsar. Later its network spread to Multan & Quetta. Gujranwala and Kasur. Sargodha.The initial equity of the Bank amounted to Rs 0. deposits rose by over 50 percent and approached Rs 1460 million. 1947. Peshawar. Australasia Bank made a profit of Rs 50. Batala. New Branches were opened in Karachi. the Board of Directors of Australasia Bank was dissolved and with the union of Lahore Commercial Bank and Sarhad Bank it was renamed as Allied Bank.000 during 1947-48. COMSATS Institute of Information Technology.It was severely hit by the riots in East Punjab. Delhi and Agra) were closed down. Allied Bank (1974 to 1991) In 1974. Unfortunately it lost 51 branches in the separation of East Pakistan. Australasia Bank Australasia Bank was the only fully functional Muslim Bank on Pakistan territory on August 14. Rawalpindi.12 million. At the time of independence all the branches in India.
116 new branches were opened during 1974 and the Bank started participation in the spot procurement agriculture program of the Government. It also opened three branches in UK.536 (Billion) and deposits were Rs 76. Allied Bank enjoyed an enviable position in the financial sector of Pakistan and was recognized as one of the best amongst the major banks of the country.46 billion. Branches increased from 353 in 1974 to 748 in 1991. 87. Allied Bank entered in a new phase of its history. The bank has the largest network of online branches in Pakistan and offers various technology-based products and services to its diversified clientele through its network of more than 700 branches.038 (Billion). the Bank’s ownership was transferred to a consortium comprising Ibrahim Leasing Limited and Ibrahim Group. as the world’s first bank to be owned and managed by its employees. Allied Bank (1991 to 2004) As a result of privatization in September 1991. 1.Investments rose by 72 percent and advances exceeded Rs 1080 million for the first time in bank history. Allied Bank registered an unprecedented growth to become one of the premier financial institutions of Pakistan.34 billion to Rs 22 billion during this period. assets amounted to Rs. In 1993 the “First Allied Bank Modaraba (FABM)” was floated. and Advances and investments from Rs 1. assets and deposits base offering universal banking services with higher focus on retail banking. Allied Bank’s capital and reserves were Rs. Those seventeen years of the Bank saw a rapid growth. Deposits rose from Rs 1. Today the Bank stands on a solid foundation of over 88 years of its existence having a strong equity.525 (Billion). After privatization. Lahore 10 . 2005 to Onward COMSATS Institute of Information Technology. In August 2004 as a result of capital reconstruction.
F. Sheikh Mukhtar Ahmed Mr. Chairman Mohammad Naeem Mukhtar Mr. Mohammad Waseem Mukhtar COMSATS Institute of Information Technology.In May 2005 Ibrahim Leasing Limited (ILL) was amalgamated and vested in Allied Bank Limited. Islamabad Stock Exchange Lahore Stock Exchange Karachi. Application for the listing of ABL shares in all the Stock Exchange Companies of Pakistan was made. Stock Exchange at their free will. 8th August 2005 10th August 2005 17th August 2005 Now all shareholders of Allied Bank Limited can trade in the shares of the Bank BOARD of DIRECTORS Mr. ABL was formally listed and trading of the shares of the Bank commenced W. ILL shareholders were issued ABL shares in lieu of the ILL shares held by them. the following dates. Lahore 11 .E.
Sherwani Organizational Structure CHAIRMAN CHIEF EXECUTIVE OFFICER (CEO)/PRESIDENT COMSATS Institute of Information Technology. President & CEO Khalid A. Farrakh Qayyum Director Government Nominee Director Mr. Nazrat Bashir Government Nominee Director Mr. Sheikh Jalees Ahmed Director Mrs. Lahore 12 . Abdul Aziz Khan Mr.Director Director Mr.
OG3) SUPPORTING STAFF SWOT Analysis SWOT is the abbreviation of four words these are “S” stands for strength “W” stand for weaknesses “O” stands for opportunities and “T” stand for threats. Strength and weaknesses are the internal factors of the organization and these are also known as the micro factors but the opportunities and threats are the external factors and these are known as the macro factors. Lahore 13 . Then they have to find out their opportunities and then COMSATS Institute of Information Technology. OG2. they have to know about their strength and weaknesses.SENIOR EXECUTIVE VICE PRESIDENT (SEVP) SENIOR VICE PRESIDENT (SVP) EXECUTIVE VICE PRESIDENT (EVP) ASSISTANT VICE PRESIDENT (AVP) OFFICERS GROUP (OG1. Whenever the organizations come into a form. Micro factors are the controllable factors but the macro factors are uncontrollable.
then they get knowledge of their opportunities that they have in the particular sector and then they have come to know about their competitors and at the last they think about their strengths. It has more than 735 branches connected to each other through an online network and most of the branches are working at the main business points. So to reveal the hidden factors I did a SWOT analysis of the Allied bank. first of all the organizations know their weaknesses. Many aspects are same almost in every branch of the Allied bank.they come to know about their threats but according to the latest theory the word SWOT is know as WOTS. The easiest way to know about any organization is the SWOT analysis. According to this theory. STRENGTHS The Bank with High Number of Branches Allied bank has maximum number of branches in all over Pakistan. Lahore 14 . It is not the SWOT analysis of ABL as a whole but only of the branch where I worked. COMSATS Institute of Information Technology.
they can be checked any time and their receipts are receipts are given to the customers. ATM and Credit cards. So. Safe and Sound The online banking feature provides less chances of fraud. online transfer. Online Facility Allied bank is providing the facility of online banking. it depends on the customer that which product he likes and in which sector he wants to invest depending on whether a person is salaried one or a businessman. Moreover. the person who transfers any amount submits his copy of NIC to the bank. This facility allows a customer to send or deposit money through cash or a cheques to an account of any other branch of ABL. TT. Rupee Traveler cheques are the main products available for customers. Because whenever some transactions take place. DD. to prevent illegal acts. Lahore 15 . secure Facility of Lockers Many banks provide the facility of lockers but not in their all branches but Allied bank is the only bank that provides the lockers facility to their customers at their all branches.Range of Products Allied Bank has many products for almost all type of customers. COMSATS Institute of Information Technology. It also gives the facility of balance inquiry and cash with drawl from a certain account of any other branch of ABL through cheques. It also gives the companies the facilities of collection accounts.
They share their knowledge and experience to make the things better. They have toll free numbers on which customers can dial and they have not to pay any thing for it. the head office provides them with the fax facility of daily rates of foreign currency. This center also provides the facility to the customers on spot and helps them whatever the matter is. how to improve their service quality and the concerning person from almost every branch of the region attend these seminars. Branch Level Monthly Conferences Monthly branch meetings are held with in the branches to solve the problems or how to attract new customers. COMSATS Institute of Information Technology.Customer Service Center Allied bank has customer care center for its customers. To get the latest rates. The customers may get the facility of money exchange on the current rates. Foreign Exchange Allied bank provides the facility of foreign exchange to its customer. Seminars Allied bank also conducts the seminars on certain topics for example. The bank provides the facility of letter of credit and other export/import facilities to its customers. They discuss all those things in the meeting to achieve their targets. The customers may also open their accounts in foreign currency. Lahore 16 .
Linked Account Facility At Allied bank the customers the person who has more than one account can have the facility of the same account number only the suffix is changed. So Easy At Allied bank it’s very easy to open an account just an introducer and a copy of NIC is required. Also security guards are available through out the day. This is the strength of Allied bank facilitates all of its customers. EMPLOYEES’ Back up In every branch of Allied bank the back up of every employee is there in case of emergency if some officer is not available at the bank. Safety Measures Cameras are installed in all the branches of the bank to ensure security of its customers and employees. These cameras are switched on all the time. Relaxation to Employees For employees the relaxation is that the employees may get the 36 medical leaves and 1-month vacation in one year with their pay in case of some emergency. The branch manager can see all the activities while sitting in his office on a display monitor. Lahore 17 . Cameras are installed in front of the cash counters. some other person will COMSATS Institute of Information Technology. Customer just needs to fill up account opening forms and can enjoy the facilities of any type of account the want. If some thing goes wrong then the manager can buzz the security alarm immediately. Account Opening. This facility provides the customer with easy remembering of the account number.
This thing enhances its performance very much by facilitating its customers and also by helping colleagues and sharing workload.back him up. This thing leads to the dissatisfaction of employees. Cooperation The staff of the ABL is very much cooperative. an inefficient manager or employee is earning the same as an efficient employee who is the real asset for the organization Insufficient Increments in Employees’ Pays The other main weakness of the Allied bank is that there are mostly no annual increments to their employees’ salary. That person is always well familiar with the responsibilities of that officer. permanent staff is not given any performance related incentives. Lahore 18 . As a result of this. No Timely Promotions COMSATS Institute of Information Technology. WEAKNESSES Lack of Performance Based Incentive System Most of the staff in the Allied Bank is not completely satisfied with the inducements. This thing invites the customers to do a business with ABL. This dissatisfaction sometimes leads to less motivated employees in banking which in turn can effect its business efficiency. Moreover. Loans on Marginal Interest Allied bank offers loans to its customers on very low rates.
Allied Bank is still working in the corporate sector and its missing a big market share of consumer banking.The other thing that for the employee’s point of view is a weakness in Allied bank is that the employees are promoted after a big period against the schedules specified by the bank. Mostly customers become its customers out of no reason than request from a personal banker. THREATS Competition in the Market Allied Bank has the threats from their competitors in the banking sector. OPPORTUNITIES The Allied Bank is having a great opportunity to emerge as the best bank of the country by giving best possible services to its customers. most customers do not even know the points behind the term “interest free days”. policies and from the current economic conditions of the country: COMSATS Institute of Information Technology. though credit cards awareness in our middle class society has gradually improved but not up to the point where they can compare the features that one Bank is offering and other is not. Lahore 19 . Truth must be said. The point is. If it enters this market than this bank can become the biggest and the most efficient bank of Pakistan. And talking about consumer banking. consumers do not know of the product being offered so how can they rely on the product. Low Products Credibility Allied Bank has still not got the edge where the consumers become loyal to its products and services. The banking sector is improving day by day and consumer banking is making great revolutions in the banking sector. from the Govt.
Government Policies and Regulations Other threat which ABL: faces is the policies of the government. COMPETITIVE STRATEGY Allied Bank strongly believes that the customers can be attained and retained only by providing them the services they want. unfavorable balance of payment and trade. Continuous changes of regimes and military intervention in the political affairs are great threat towards the healthy growth of the whole industry. Muslim Commercial Bank. Lahore 20 . Prime Commercial Bank etc Due to the tough competition the bank is forced to sanction the loans at the reduced rates and other services at minimized cost This reduces the profit margin which is a big hurdle in the way of innovation and extended customer services. Faysal Bank. revenue authorities and other concerned authorities are also a big threat to the bank. Unemployment. which often are not in the interest of the industry including the banking sector. Tax charged on the income of banking companies is much higher than on the income of other companies. The strict regulations issued by the central bank. revises the tax policies on continuous basis. decreased per capita income. recession and boom are the source to the handicapped progress of banking sector. The Govt. inflation and deflation. Allied bank’s competitive COMSATS Institute of Information Technology. Political Conditions Political conditions in Pakistan have been unstable since a very long period. Economic Conditions Sudden rise and fall in the trade and industry conditions of the country also adversely affect the growth of banking sector.The main competitors in the banking sector are the Bank-Alfalah.
strategies are focused on making their existing customers loyal because they believe that it is their existing customers who attract new customers. Products: The Competitive Tools Allied bank has skillfully crafted their products to use them as their core competencies and also as their tools for competitive strategy. but also to keep pace with the changing needs of the customers and modern day’s banking trends. Allied Bank uses KYC (Know your customer) forms to have complete acquaintance with their new customers. Lockers and Commodity Operations. and Demand Finance. Along with these core services provided by the bank. Running Finance. Hajj Services. The products include Agricultural Finance. These products serve multiple purposes to bank. Remittances. Services: The Competitive Tools Same is the case with the services offered by Allied Bank. Lahore 21 . The bank’s main source of revenue earning is also the corporate sector customers. These services are not merely meant to earn profit. Import Export Business/Trade Finance. retired individuals and anyone who has the potential of providing legal deposits to the bank. Corporate customers being the main target of the bank get handsome packages of loan and other financial services. Services are the main tool through which the bank acquires new customers and retain them. In the retail banking they target salaried individuals. Utility Bills. housewives. COMSATS Institute of Information Technology. online banking and Internet banking serve as supplementary services. Target Market Allied Bank’s main focus is not on the retail banking but on the corporate banking rather. These services include Home Remittances.
ONLINE FACILITY Now the bank gives you the absolute convenience of instant access to a host of banking facilities and personalized services 24 hours a day. 7 days a week. Give yourself the advantage of breakthrough innovation and cutting edge and get time on your side. 1 Online Features By Allied bank Online you can. 365 days a year. Convenience Why visit the bank when you can better use your precious time to meet other commitments? With ONLINE. our special discounted charges also offer you substantial savings.COMPETITIVE BENEFITS These products and services are mainly directed towards customer satisfaction and ABL uses it for the customer satisfaction as their competitive strategy. Simplify the way you bank and experience a higher level of convenience. 2 balances Check your account COMSATS Institute of Information Technology. Some of the many benefits availed by the customers are mentioned as follow in bank’s own style. Lahore 22 .
This just goes to show that we at Allied bank always put your interests first. The following products are available for customers: COMSATS Institute of Information Technology. This helps the bank to keep pace with growing needs of its customers and anticipate their future needs and manage them accordingly in time thus to make sure that the quality is not compromised and the customers get what they want Business Process Analysis Products Offered by the Bank Allied bank offers a wide range of products geared towards the customers.3 4 5 6 7 8 9 Transfer funds between your own accounts and to a third party account You can use your card for loan account payments Check transaction history of your accounts Get your account statement through fax Receive information on various Allied bank products and services Find out status of your card or loan application Request balance or reference certificate 10 Get currency exchange rates 11 Issue stop payment instructions 12 Report loss of your cheque book Toll Free Numbers Connect to Allied bank ONLINE by dialing from anywhere within Pakistan. By offering all of the above ABL makes its way through the tough competition of the day. Your call costs you nothing because it is toll free. Lahore 23 . Dial now to discover just how Allied bank can make you’re banking experience even more enjoyable and rewarding.
0. COMSATS Institute of Information Technology. There are free services for the depositors who maintain minimum balance of Rs. Lahore 24 .1 (M) in previous month.• • • • • • • • • • • • Rupees Deposit Accounts Foreign Currency Accounts Allied Cash+ Card Online Banking Internet Banking Master Card Lending Products Seasonal Finance Agricultural Finance Import Export Business/Trade Finance Running Finance Demand Finance ACCOUNTS Pak Rupee Account The following accounts are the parts of rupee deposits accounts: • • • • Current Account Saving Account Allied Profit Plus – Deposit Account Allied Monthly Income Scheme Current Account Allied Bank offers Current Account facility for individuals as well as for institutions and commercial customers.
Lahore 25 . Rs 5(M) to less than Rs 10 (M) 6. 0.50% COMSATS Institute of Information Technology. The estimated rate of profit is given below. • • • Attractive return up to 5.5 (M) in the previous month.Benefits • • • • Free Online Transactions Free issuance of Payment Orders Free issuance of Demand Drafts Free Issuance of Deposit at Call Receipts PLS Account Allied Bank offers PLS Savings Account facility to its customers with the following attractive features.00% per annum No service charges on active accounts Complementary ATM cards For depositors maintaining a minimum balance of Rs. BENEFITS • • • • Free Online Transactions Free issuance of Payment Orders Free issuance of Demand Drafts Free Issuance of Deposit at Call Receipts PPA (Profit Plus Account) Allied Profit Plus–Deposit Account is a profit bearing checking account with the payment of profit on a monthly basis.
000/Rs 100.20% per annum Eligibility Period All individuals & institutions other than Financial Institutions 3 years Payable on monthly basis Rs 850 per month on a deposit of Rs 100. The period of deposit under this scheme is 3 years.000/-) Profit Projected profit rates @ 10. Companies. It provides an opportunity for a regular monthly income.Rs 10(M) to less than Rs 25 (M) Rs 25(M) & above Significant Features • ` 7. • • • • • Minimum Amount 10. Schools. Hospitals. Charitable Organization etc.00% The applicable profit rate would be based on slab of amounts maintained on average monthly basis and the profit credited in the account on monthly basis. are free to open their account in this scheme Monthly Income Scheme Allied Monthly Income Scheme is a unique product with attractive returns.000 (with increments of Rs Extraordinary Benefits The Scheme Provides The Following Special Benefits: • Complementary ATM card for depositor and spouse 26 COMSATS Institute of Information Technology. Lahore . • • There is no restriction for maintenance of any minimum balance in the account Individuals.50% 8.
Allied Online provides a secure.• • • • Profit to be credited in the depositor’s PLS saving A/C and can be withdrawn through ATM free of charge Complementary credit card with approved credit limit Free transfer of monthly profit to any branch of ABL all over the Pakistan Loan facility against deposit Extra Benefits for the Account Balance of More than 0. you can have your cheque encashed at any of our over 735 branches located in 250 cities. also referred to as "Allied Cash+". your account is available to you from any of our branch countrywide. Through Allied Online. COMSATS Institute of Information Technology. Online Banking Allied Online is a unique service offering by Allied Bank Limited. efficient and convenient facility for making payments to beneficiary accounts from any of our branches countrywide.5 Million • • • • Free online transaction Free Issuance of Pay Orders Free Issuance of Demand Drafts Free Issuance of Deposit at Call Receipts Allied Cash+ CARD Allied Bank ATM Card. No matter where you are in the country and in which branch your account is maintained. Lahore 27 . Other services available to accountholders are Balance Enquiry and Account Statement at remote branches. Similarly account-to-account Funds Transfer facility is also available for instant remittance. can also be used as a debit card at merchant locations/service outlets having ORIX POS Terminals and displaying the ORIX logo.
To use Allied Direct Internet Banking. he may visit any of the nearest branch and open his account and obtain an ATM Card. just by clicking one can enjoy this facility. Our friendly branch staff will help him open his account quickly. consumers should be a registered Allied Bank Account holder with a valid ATM Card. If some one does not have an account. With Allied Direct convenience is just a click away. Secure and Faster. They can transfer funds or even pay bills even if it's a holiday. • Secure and Faster Secured & encrypted with latest tools and technologies. So. Features of Allied Direct • Simple and Convenient Easier navigation and help provided at every step. where he wants! It's Simple.when he wants. Convenient. Lahore 28 . so the customers can have most out of this service. Internet Banking Banking at consumer fingertips! Allied Direct Internet Banking offers the customers convenience to manage and control his banking and finances . 7 days a eek. END USER PRODUCTS Credit Card COMSATS Institute of Information Technology.Corporate customers requiring funds collection or disbursement facility can use it for cash management services. • 24x7 Access The customers now have access to your account 24 hours a day. Allied Direct is the choice for secure and fast Internet Banking.
Luxury. Lahore 29 . THE NEW MASTER CARD Allied Bank is of the view that the time has come to bring about a radical change in the Pakistani credit card industry. That’s why the Allied BankMasterCard is now available for customers – with a set of unique features.at no extra cost. Advances Seasonal Finance Seasonal Finance facility is allowed against pledge of produced Crops harvested in that particular crop season.The customer can now become the holder of a true Credit Card here in Pakistan. a simple application procedure and the fastest processing time! Accepted at 16. prestige and convenience await him with the Allied Bank-MasterCard . Being a successful individual. Allied Bank under license from Master Card International. status. deserves the best. medium and long term. With the Allied Bank Master Card the consumers will be assured of a service meeting the highest international standards maintained by Master Card.000+ establishments in Pakistan and over 17 million retailers across the world. The COMSATS Institute of Information Technology. Agricultural Finance Bank under Agricultural Financing Scheme envisaged by the State Bank Of Pakistan extends short. customer deserves a life unrestricted by cash limitations. he deserves a reliable credit line.S. The delivery of pledged stocks/goods is made against appropriate cash payment.A issues it's Master Card to anyone meeting the eligibility criteria. U. farm and non-farm credits. the Allied Bank-Master Card is the ticket to financial independence.
factory including social forestry and fisheries (inland and marine excluding deep sea fishing). biannual or annual. poultry. commercial vehicles and equipments. which could be monthly. Trade Finance Allied Bank provides highly efficient trade finance services for import/export business to his clients through large number of authorized branches where trained and motivated staff is available to handle the business on behalf of customer. The Bank provides lease facilities for balancing. Leasing is a popular mode of financing due to its distinctive features like tax COMSATS Institute of Information Technology. Lahore 30 . replacement and expansion schemes to corporate and commercial clients in all industrial enterprises. Corporate Finance Allied Bank Limited commenced lease operations upon amalgamation with Ibrahim Leasing Limited. The running finance is suitable for meeting day-to-day financial needs of the business Demand Finance It is disbursed in lump sum or in accordance with the agreed disbursement schedule and it is repayable as per the agreed installments. Running Finance It is a short-term loan allowed by the bank for a period of one year. sheep and cattle). modernization.farm credits are extended for production (inputs) and development purposes. Facilities include leasing for machinery. The mark-up is recovered on the products of daily outstanding balance. The running finance account can be operated on daily basis. quarterly. Non-farm credits are allowed for livestock (goats.
gas and telephones. Remittances Allied Bank can transfer funds to the remote part of the country for payment/credit to the customer himself or a third party. Lahore 31 . Lease applications are entertained at all Bank branches in Pakistan. Consumers may drop bills with crossed Cheques into a drop box available at the branches under "Cheque Drop-in" system. through COMSATS Institute of Information Technology. preserve working capital.shield. Services Any one can rely on Allied banks friendly staff that is eager to assist their customers as best as possible. Allied Bank offers the following services to its customers: Remittances • • • • Hajj Services Utility Bills Lockers Commodity Operations Utility Bills All branches of the Bank collect utility bills of electricity. easy documentation and less processing time. Utility Bill payment facility – can also be availed through any of the ATMs without having to wait in long queues outside the branch. the branches collect Utility Bills during banking hours and also in the evening banking on all working days. For convenience of the customers. Bills can be paid through Cash or Cheques.
Locker holders need not have an account in the Bank. Hajj applications are available with all branches during Hajj season. Lahore 32 . Network of ATM Allied Bank has vast network of ATM's presently consisting of 100 ATM's installed in over 40 cities which is undergoing expansion. each year. Medium and Large on a yearly fee. Consequently. Telegraphic transfers can also be made abroad in Foreign Currency Hajj Facilities The Bank serves the intending pilgrims by helping them in performing this religious obligation. immediately after the Government of Pakistan announces the Hajj policy Lockers Allied Bank Lockers are available in three different sizes Small. In addition. the Bank's ATM cardholders can avail services of Allied Bank's own or 1-LINK ATM's. Allied Bank has a member of 1-LINK ATM sharing switch comprising of over 600 ATM's nationwide. The bank provides the forms and other related services. the terms and conditions for accepting the Hajj forms from intending pilgrims are in accordance with the Hajj Policy announced by the government. COMSATS Institute of Information Technology.Telegram/Telex/Tele fax for payment/credit on the same/next day. However.
Business Account presents you the safe way to transact amount because of which the businessman have no problem to take cash and travelers cheques with him. The cardholder's member banks will access our bank ATMs. ABL has enhanced ATM services by joining the "1-Link Switch" which has following member Banks: • • • • • • • • • • • • ABN Amro Bank Allied Bank Bank Alfalah Habib Bank Limited Askari Bank Bank Al Habib National Bank PICIC Commercial Bank Union Bank United Bank Soneri Bank Meezan Bank The cardholders of our bank will thus be able to access member banks ATMs for balance inquiry and cash withdrawal simultaneously. Lahore 33 . Business Account It’s the easiest current account. with the country wide network of 735 branches. which gives the facility to businessman to have transaction there where his business takes him.1-Link Network In continuation of ALL TIME BANKING services. COMSATS Institute of Information Technology.
Clearing Process Because of online real time technology cheques process. Lahore 34 . the clients can easily deposit or withdraw money from any of the branch of ABL. • • • • US Dollars Great Britain Pound Euro Japanese Yen COMSATS Institute of Information Technology. Foreign Currency Accounts Allied bank deals in following foreign currencies. business account holder can easily get the pay order and demand draft from any of the Allied Bank branch. he can get any information about his account. Account Information Wherever the customer is in Pakistan. and funds transfer work so fast that it never happened before.Easy to Operate Because of online real time technology all over Pakistan. The information may be about accounts balance and account statements. Banking Instruments Availability In Pakistan where ever the customer is.
COMSATS Institute of Information Technology. I didn’t have the opportunity to seek the details because the online department is a sensitive area and also electronic based. I was rotated in the different departments of the bank. Outward Bill for Collection (OBC). Lahore 35 . fill in the deposit slips presented by the customers. I also informed the customers of their account balance. I was also assigned with some responsibilities of the minor level. I observed the basics of the department. Based on my observation and briefing from the staff I was asked to prepare advices for collection of demand draft amount. ONLINE DEPARTMENT Online banking is a wide spreading concept in banking sector.Learning as an internee Duties and Accomplishments My duties at the bank during my internship were of the diversified nature. I observed the procedure carried down here. account status and about other queries available online. They gave me some assignments as well to give me the true exposure of practical work environment. enter the proceedings in concerned registers. I prepared online transfer slips foe the customers. So my duties can be categorized department wise as under: CLEARING DEPARTMENT In this department I spent about 3-4 days. This department mainly performs the basic operation of fund transfer and other functions facilitating the transfer and enquiries.
like the online department. I was asked to observe different complaints received by the bank by its customers. I also had to maintain the register maintained to record the receipt of new account opening forms along with the register kept for recording those ATM cards. There.Customer Service Department This department serves as the front representative of the bank. I also made the entries of incoming SWIFT messages in the register. Multiple tasks are executed in this department. I didn’t have an opportunity to practically handle the work due to the sensitive nature of the work. Advances And Credit Department In this department I was given some files to study. which were about the applications of credit to be approved. I had to maintain the record of some Letters of Credit (LCs). I had to perform some other duties as well. I was asked to enter the particulars of I-form (Import form) and E-form (Export form) in their respective registers. I maintained the sundry account register. I was liable for making drafts of outgoing SWIFT messages. In this department. The prominent amongst them is called “Calling” in the banking jargon. which have been delivered. Foreign Exchange Department This is the department with a very vast scope and a variety of dimensions. Miscellaneous Duties Apart from the duties mentioned above. transfer and collection of cheques and other instruments like deposit slips and COMSATS Institute of Information Technology. Lahore 36 . I put the applications received for the ATM cards in the register. The person in charge of there briefed me about the term and conditions on which the bank accepts or rejects an application foe the credit. It’s manual checking of the record produced by the computer pertaining encashment. suspense account register.
I had to work with the person responsible of keeping the record of DD payable. TYPES OF CLEARING AND COLLECTION CHEQUES There are two types of clearing/collection cheques 1 Inward clearing/collection 37 COMSATS Institute of Information Technology.50 In every cheque book there is also a requisition slip available for the purpose of reissue of a cheque book.100 Profit and loss account or PLS account cheque book has 25 leaves and it cost RS. I was assigned with the duty of keeping the record of DD payable of a given period. his account number. the stamp of Allied bank and the signatures of the authorized person on every page of cheque book and also on the requisition slip.slips. Lahore . There is written the title of account holder. if the first cheque book has no more leaves. NEW KNOWLEDGE GAINED How to Open an Account If some one opens a new account and become the client of the Allied bank of certain branch then he gets the requisition slip on which cheque book is issued Normally people use two types of accounts 1 2 3 Current Account Profit and loss account or PLS Account Term Deposit Account • • • Current account cheque book has 50 leaves and it cost RS.125 Term deposit account cheque book has also 25 leaves and it also cost RS.
Clearing system is helpful for both the customers and bank in saving money. in which cheques and other negotiable instruments are brought by each local bank representative and the claims of each bank on other is offset and a settlement is made by the payment of difference. The clearinghouse of SBP (NIFT).g. Clerk posts the contra entries of these vouchers in the clearing register. Then they write the same one bank’s slips and summary of banks.. endorsement stamp and branch special crossing stamp. if ABL is COMSATS Institute of Information Technology. ABL is a member of State Bank of Pakistan (SBP) and has an account with SBP. After this process the balance with total drafts and total amount are given to the representative. representatives of all local banks and foreign banks exchange their cheques. which are drawn on their banks. The clerk of forwarding branch prepares the schedule and vouchers of all the clearing cheques. They write them on a daily voucher record sheet and then separate different banks. Lahore 38 . NIFT has a clearing house.M. Next day at 8:30 A. The clearinghouse debits/credits the payee/receipt branch with the total amount of the cheques paid on their behalf. The settlement of book entries e. time and labour. PROCEDURES The cheques and drafts come to then from different banks. which he receives by the clerk on that day and sends these cheques to the checking officer. through whom branches forward/receive-clearing cheques along with a schedule conducts clearing. Representatives’ banks collect these cheques.2 Outward clearing/collection OBCs Cheques presented for Clearing This department receives the cheques and other negotiable instruments drawn on local branches of other banks. Checking officer passes these cheques and vouchers by his initials.
If any cheque is returned unpaid. In this way mutual cross debiting and crediting in the books of SBP settle obligation of banks. The head office will similarly send advice to the branches of the returns. Main branch of ABL handles the transfer and delivery of cheques. COLLECTION CHEQUES OR OBCs The collection cheques/OBCs are the cheques.1 million to ABL then ABL will draw a cheque of 1 Million in favour of UBL. Copies of all advices will be sent to the head office. It will be essential for the branch to advise pak account of each transaction so that they may also pass the necessary entries in their books. In case of cheques drawn on one branch and collected by an other branch for the credit of its constituents.to give Rs. 2 Million to UBL and UBL has to give Rs. which we have cleared for our customers when some of our customers receive the cheque that is of some other COMSATS Institute of Information Technology. The same clearing cheque procedure will be adopted in the transfer deliveries except in case when the facility of SBP is not availed. the branch delivering the cheques will send a consolidated debit advice. a credit advice will be sent to the branch returning the cheque. The NIFT will send a consolidated debit/credit advice to the branches in respect of clearing cheques delivered to or received from the branches. INTER-BRANCH OBCs Branch receives the cheques and other negotiable instrument drawn on other branches of the same bank. Lahore 39 . The amount of the advice will agree with the total amount appearing in the schedule of cheque delivered/received. SBP will debit this amount from ABL account and credit of UBL account. if any. Central Account All the inter-bank adjustments will be affected through head office account called Pak account.
date. The clearing department of the receiving bank follows a prescribed procedure and credits the amount to sending bank through a central account maintained by each bank with SBP. MAINTAINING REGISTER for OBCs We have a register in which we have the serial no for OBCs with other details like amount. These types of cheques are known as collection cheques or the other name we gave them is OBC PROCEDURE OF COLLECTION On the cheque there is written that the person to whom it may concern can cash it from the certain branch of the bank in favour of which it’s drawn.city. The bank also requires account no. The customer presents the cheque to his branch. sending and receiving branches’ codes. and copy of the introducer’s NIC. The person willing to open an account has to complete the account opening forms. How to Open an Account I learnt how to open a new account. bank requires introduction of an already existing account holder of the same bank but preferably of the same branch. we take it back as a return but after that we call the concerned person and we also write name of the person. which send a document called “OBC” to the bank that has to make the payment. which has several particulars pertaining to personal information of the person. Lahore 40 . ABL sends the cheque to it’s own branch if available for collection from the payer’s bank otherwise the OBC is directly sent to other bank. COMSATS Institute of Information Technology. Every OBC is entered in that register on daily basis. Along with the information given by the person himself. If OBC is not cleared due to what ever fault. The bank makes sure that all the information provided by the person is authentic.
Lahore 41 .Bank also requires a copy of the NIC from account opening person. the person may come to bank and collect his cheque book. The bank also informs its head office about the new accounts and also charges nominal amount at first time. they have to provide an affidavit on a prescribed format provided by the bank. COMSATS Institute of Information Technology. Matter of Zakaat The deductions of Zakaat from the account of Muslims are made on the 1st Ramadan according to the Islamic rate. In case of illiterate person. After all this formality. the bank after a few days sends a letter of thanks to the address of the person disclosed in the AOF. He will also have to provide two samples of his specimen signatures for any withdrawal of amount. But the people who do not want the bank to deduct Zakaat and want to disburse it at their own. In case of a Pardah Observing lady. it will require her to provide impressions of her both thumbs. the bank prefers not to open an account but if so. When the letter is received. he will provide the bank with his left thumb impression along with two photographs.
COMSATS Institute of Information Technology. Practical application of the theories learnt during academic sessions was a great challenge. However. The real problem I faced in the bank was the difference between what I had learnt from the books and what was being practiced. The other major problem was the hectic routine of the bank. after some time. It made me uneasy at first but with the passage of time I became used it. I became a part of it just like everyone else and felt completely comfortable. Lahore 42 . which I overcame by the cooperation of the staff.PROBLEMS ENCOUNTERED New Situations and Working Field Initially I had difficult time in mixing with organization members and felt uncomfortable in that new place with new people. I had to face a great difficulty in understanding bank’s terminology by the knowledgeable guidance of the staff I was able to overcome the problem to a satisfactory level.
Now I feel that I am better prepared to enter the world of professional work. I have realized that earning money is not so easy after all. By the end of it. So in a nutshell. Lahore 43 . it takes a lot of hard work and devotion. Each task I performed was a different experience in itself. and not to forget time. I feel honored that I have worked with such experienced professionals. The overall experience of my internship was very good. And I now know that if I want I can make things possible. I definitely have learnt things. I have learnt the sense of responsibility in its literal meaning. and I also know how good it feels to having accomplished something and being appreciated for it. COMSATS Institute of Information Technology. and how to be patient while doing so. I must admit that such interaction in this respectable professional community will help me in seeking out job opportunities in the near future. Besides this I also gained knowledge about banking which I previously lacked and many more products being offered by the bank. I am now capable of dealing with different sort of customers. I must say I realize my potentials. which would no doubt boost my confidence to work in future. I have come to know and been appreciated by a number of professionals who are lending their services to the banking sector for more than a decade. which will impact my career and my character. this internship gave me the experience.HOW EXPERIENCE IMPACTS MY CAREER My internship experience has given me a realistic preview of my field of education.
favoritism in appraisals and lack of sufficient incentives are some problems that are arising dissatisfaction among employees. • Outlook of the branch I worked for was not good enough. Due to this overall performance of the bank also decreases. • Approach towards employees is still bureaucratic and a lot is to be done in this regard. In the new era this feature counts a lot to any organization. I tried to observe the environment profoundly. Late promotions. Lahore 44 . It also to take the advantage over its competitors. So the administration of the bank should think on this aspect also and make these conditions better. The bank working beside this branch was attracting more customers due to this factor also. shortage of training and development facilities. I found some problems that were creating problems in achieving targets and objectives • The bank is still depending on manual work to a great deal which causes slow performance and increases the chances of mistakes. should convert their system to an automated one to better achieve its targets and COMSATS Institute of Information Technology.RECOMMENDATINOS and SUGGESTIONS During my stay at ABL.
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