Dedication

This piece of work is dedicated to my beloved parent and teachers who always helped me out in times of woe and distress and taught me to follow the path of truth, justice, honesty and to all those who love and care about me

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ACKNOWLEDGEMENT

A milestone of this nature could never have been possible to achieve without the support of a galaxy of some truly loving persons. The events and the process leading to the

accomplishment of my objective have given me a realization in depth of immense blessing of Allah. Many people have contributed in the successful completion of this internship report. My great appreciation goes to the whole team of Askari Bank Ltd DHA II Lahore. They provided me with every kind of help in the completion of this report. Let me also thank my teachers of Comsats Institute of Information Technology (CIIT) for the knowledge they gave me and their guidance in every field. I would also like to thank Professor Samar Kamal Fazli for his guidance. Last but not the least I would like to thank my parents who provided me love, support, patience & good knowledge.

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Executive Summary This
internship report consists of profile of the banking sector

(industry), its origin, the functioning, how the banks are classified on the based on function, ownership etc and the trends being followed in the industry. Besides the above mentioned this report is focused on Askari Bank and to be more precise it discusses the inner details of the bank situated in Lahore DHA II Branch. Askari Bank origin and its setup in Pakistan are also discussed in the report. Askari Bank came to Pakistan and gave banking sector a new horizon, today Askari Bank has set firm foot in the industry. The report further guides through the department and working of the general banking. The activities taking place in the bank, the various products of banking are discussed in the report. The report is a very good description of what Askari Bank and its significance is.

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Introduction
The name bank is derived from a Latin word bancho meaning desk/bench, used during the renaissance by the Florentines bankers, who used to make transactions above a desk covered with a green table cloth. The first modern bank was founded in Italy in Genoa in 1406; its name was Banco di San Giorgio (Bank of St. George). The word bank can be traced down to the ancient Roman Empire, when money lenders would set up their stalls in the middle of an enclosed courtyard called macella on a long beach called bancu A banker or bank is a financial institution that acts as a payment agent for customers, and borrows and lends money. Banks act as payment agents by conducting checking or current accounts for customers, paying cheques drawn by customers on the bank, and collecting cheques deposited to customers' current accounts. Banks borrow money by accepting funds deposited on current account, accepting term deposits and by issuing debt securities such as banknotes and bonds. Banks lend money by making advances to customers on current account, by making installment loans, and by investing in marketable debt securities and other forms of lending. Banking Companies Ordinance of 1962 defines banking as ³banking means accepting, for the purpose of lending or investment, of deposits of money from public; repayable on demand or otherwise, and withdraw able by cheques, drafts, to order or otherwise´.

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Industrial profile
Banking is one of the most sensitive businesses all over the world and play important role in the economy of a country and Pakistan is no exemption and in a contemporary world of money and economy. The banking system of any economy is an undeniable determinant of its growth as it provides an efficient channel that routes funds from surplus sectors in the economy towards deficit ones. Banks are custodian to the assets of the general masses. It influences and facilitates many different but integrated economic activities like resources mobilization, poverty elimination, production and distribution of public finance. It is purchase of car or building of a home bank is always there to serve public better. Banks play positive and vital role in the overall economic development of the country. Pakistan has a well-developed banking system, which consists of a wide variety of institutions ranging from a central bank to commercial banks and to specialized agencies to cater for special requirements of specific sectors. The country started without any worthwhile banking network in 1947 but witnessed phenomenal growth in the first two decades. A major achievement of the reforms process has been the transformation of a primarily state owned and weak banking sector into a healthier, market based system, owned by the private sector. This has been facilitated by the restructuring of major banks, ongoing consolidation of the sector through mergers and acquisitions, strengthening of the regulatory regime and

improvements in transparency, corporate governance and credit culture.
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Classification of Banks
The commercial banks are classified into various types on the basis of their spheres of activities, ownership, domicile etc. The main types of banks are: y y

Classification on the basis of functions Classification on the basis of ownership Classification on the basis of functions

y y y y y y

Central Bank Commercial Banks Exchange Banks Saving Banks Agricultural Banks Industrial Banks Classification on the basis of ownership

y y y

Public sector banks Private sector banks Cooperative banks Classification on the basis of domicile

y y

Domestic Banks Foreign Banks

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Banks in Pakistan Government Owned Banks:
y y y y y y y y y

First Women Bank Limited Industrial Development Bank of Pakistan Khushhali Bank Limited National Bank of Pakistan SME Bank Limited The Bank of Khyber The Bank of Punjab The Punjab Provincial Co-operative Bank Limited Zarai Taraqiati Bank Limited Privatized Banks:

y y y y

Allied Bank Limited Habib Bank Limited MCB Bank Limited United Bank Limited Development Financial Institutions:

y y y y y

House Building Finance Corporation National Investment Trust Limited Pak Kuwait Investment Company (Pvt.) Limited Pak Libya Holding Company (Pvt.) Limited Pak Oman Investment Company Limited

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y

Saudi Pak Industrial & Agricultural Investment Company (Pvt.) Limited Small and Medium Enterprise (PBA subgroup under formation):

y y

First Microfinance Bank Limited Pak Oman Microfinance Bank Limited Private Banks:

y y y y y y y y y

Royal bank of Scotland (RBS) Arif Habib Bank Limited Askari Bank Limited Atlas Bank Limited Bank Alfalah Limited Bank Al Habib Limited BankIslami Pakistan Limited Crescent Commercial Bank Limited Dawood Islamic Bank Limited
y

Dubai Islamic Bank Pakistan Limited Emirates Global Islamic Bank Limited

y y y

Faysal Bank Limited Habib Metropolitan Bank Limited (Merged with Habib Bank AG Zurich in October 2006)

y y y y y y

JS Bank Limited NIB Bank Limited Meezan Bank Limited Mybank Limited KASB Bank Limited SILK Bank
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y y

Soneri Bank Limited Standard Chartered Bank (Pakistan) Limited (Re-constituted in December 2006)

Foreign Banks:
y y y y y

Citibank N.A., Pakistan Deutsche Bank AG, Pakistan Hong Kong & Shanghai Banking Corporation Limited, Pakistan Oman International Bank S.O.A.G., Pakistan Barclays Non-Member Banks & Development Financial Institutions:

y y y y y y

Bank of Tokyo Mitsubishi UFJ Limited, Pakistan Network Micro Finance Bank Limited Pak Brunei investment Company Limited Pak Iran Joint Investment Company Rozgar Micro Finance Bank Tameer Micro Finance Bank Limited Till the end of 1980s Pakistan banking sector was heavily regulated in most of the areas of activities. The regulated and nationalized banking system created an industry structure where competition was unknown to management of the banks, Forced by the structural reforms agenda and the desire to strengthen its financial system. Pakistan moved towards liberalization and financial sector deregulation in 1990. It started with the privatization of state owned commercial banks and induction of new ones from private sector established a market base banking system. The government seems to be conscious about improving the efficiency of banking sector in Pakistan. Few considerable efforts have been made in this regard
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which include enhanced capital adequacy, strengthening asset quality, improving management and increasing earnings.

Furthermore interest rates deregulation, abolition of credit controls and further developments in capital market have also led towards a more competitive banking environment. The deregulated and increasingly competitive environment poses a challenge in terms of efficiency as the most efficient banks would survive while the less efficient will be driven out of the market. This phenomenon of deregulation started from when banks privatized to increase efficiency and effectiveness. The government of Pakistan permitted small private sectors banks to operate, which indulged in doubtful policies to promote business. The public sector banking which constituted the backbone, thus continued to suffer because of their approach, size and carried over liabilities. In the mean while western banks started entering into the business. They with the support of ruling elite, concentrated on the big business, leaving the routine business to local banks. This reduced the profitability of the local banks. Banking industry has grown and still growing as numbers of banks are increasing and other new entrants are coming to Pakistan.

Pakistan Banks¶ Association
Pakistan Banks¶ Association (PBA) represents the Pakistan Banking Industry. Established in 1953, its main objective is to coordinate the efforts of the banking industry, and to share a common vision of progress and development with its members. PBA Membership is institutionalized and is available only to the
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Banks operating in Pakistan. Currently there are 47 members, categorized into 6 groups (one of these groups is under formation). Its governing body is an Executive Committee (EC) comprising of 14 members, represented by the Chief Executives of the respective member institutions. Over the years the role of PBA has broadened considerably. It is now referred to by the State Bank of Pakistan in formulation of regulations for the banking industry, and has been entrusted with the function of regulating and monitoring certain services provided to the banking industry by outside service providers. These service providers include µProfessional Value¶s¶, who are evaluators allowed to appraise the values of assets collateralized to banks, and Security Agencies offering security services to the Banking Industry.

Trends of the Banking Industry
Pakistani Banking Industry these days has indulged itself in the following activities to fulfill the needs of the society.
y

Consumer Financing

1. House financing 2. Auto financing
y y

Micro credit financing Islamic Banking

Consumer financing: Most of the commercial banks have ventured into consumer financing. Consumer financing as the name indicates is simply financing for their consumers that may include financing for
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household products. Consumer financing also involves two major categories of products being financed today i.e. House financing & Auto financing. y House financing is a part of consumer financing as it is also financing of a product which is of a vital use to the consumers. It is basically providing funds to the consumers especially for the purpose of buying or leasing a house. In some banks it is also known as house loans. y Auto financing is another important concept undertaken by banking these days and is without a doubt, the most profitable department as well for a bank these days. Auto financing is also as the name indicates financing for Automobiles In the above mentioned trends there is a very visible benefit for the customer that is easy purchasing of homes and automobiles. Banks pay the amount required for the respective item of purchase and them the customer pays back the bank in installment or as per his/her feasibility, the earning of the bank in this procedure is what it get in return of doing the favor to the customers, the bank charges a certain amount of interest on the amount it gives to the customer for purchasing of the house or the car and that is where they make profits.

Micro Credit financing: Micro financing focuses on the people with personal commitment to improve their lot, do honest labor and have a genuine need for small loans.

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Large loans imply few beneficiaries and similarly if big loans default their losses can be equally hazardous. Converse is true for Micro Credit Loans. Due to the tough economic conditions and failure of giant industrial enterprise all over the world, people have started shifting from big loans to small loans and similarly from Industrial financing to consumer financing.

Islamic Banking: Islamic banking is a phenomenon which is continuously gaining popularity in the country, a-lot of effort is being put in to make Islamic banking penetrate through the conventional banking. The SBP has initiated the process the process of converting conventional banks into Islamic banks while the government has initiated a parallel banking strategy of promoting Islamic banking alongside the conventional banking. Islamic banking is not much different from the conventional banking in terms of the processes being carried out but it deals with all in a more Islamic way for e.g. they don¶t charge interest in Islamic banking, they only take profits which is in fixed amounts of money not interest rate over the loan disbursed.

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Profile of the company (ACBL)
Askari Bank Limited (the Bank) was incorporated in Pakistan on October 9, 1991 as a public limited company and is listed on the Karachi, Lahore and Islamabad Stock Exchanges. The registered office of the Bank is situated at AWT Plaza, the Mall Rawalpindi. The Bank obtained its business commencement certificate on February 26, 1992 and started operations from April 1, 1992. Army Welfare Trust directly and indirectly holds a significant portion of the Bank's share capital at the period end. The Bank has 227 branches (December 31, 2009: 226 branches); 226 in Pakistan and Azad Jammu and Kashmir, including 31 Islamic banking branches, 22 sub-branches and a Wholesale Bank Branch in the Kingdom of Bahrain. The Bank is a scheduled commercial bank and is principally engaged in the business of banking as defined in the Banking Companies Ordinance, 1962.

Mission
To be the leading private sector bank in Pakistan with an international presence, delivering quality service through innovative technology and effective human resource management in a modern and progressive organizational culture of meritocracy, maintaining high ethical and professional standards, while providing enhanced value to all our stake-holders, and contributing to society.

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Branches

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Board of directors
Lt. Gen. Nadeem Taj Lt. Gen (R) Imtiaz Hussain Chairman Chairman Executive Committee

Maj Gen (R) Saeed Ahmed Khan Director Mr. Zafar Alam Khan Sumbal Dr. Bashir Ahmad Khan Mr. Shahid Mahmud Mr. Muhammad Riyazul Haque Director Director Director Director

Mr. Ali Noormahomed Rattansey Director Mr. Muhammad Rafiquddin Mehkari Executive Mr. M. A. Ghazali Marghoob Company Secretary President& Chief

Bank¶s departmental functions
y Finance department y Marketing department y Customer services department y IT department y Operations department

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y

Finance Department
Finance is the major driving force behind an organization, whatever the business is, it may miss out any other department which will have an effect but if it misses out finance the business can simply not run. The basic thought before doing any business is to earn profits, and it is not possible with the finance personal. If the firm doesn¶t knows it expenses it won¶t know its surplus incomes as well. Good finance is the key to a successful business. The role of the support functions in the business management is as of any front line business function as they primarily deal in managing the internal dynamics of the organization to assist in accomplishment of business objective, implementation of strategies and to enforce a sound control environment of harmonizing profitability with governance goals. It is one of the support departments of all the division of the bank. This department is responsible for the following functions.

y y

Preparation of financial budget for the annual operation of the bank. Recording of transactions pertaining to the annually operations of the bank.

y

Calculating and comparing the variances in the actual results with the budgeted amounts

y

Reconciliation of various accounting records with the records for the external entities.

y

Settlement of dues of the acquirer banks and other parties.

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Scope of Activities of the department: The finance department of the bank is responsible for the budgeting, accounting and reporting of all the operations of the bank.

Reporting line: The finance department of the bank directly reports to the Group head consumer finance and all the reports sent to the head office and other authorities are under approval and authority of the group head Consumer finance. The finance department is of keen interest to the operations department. It further includes different departments, each having a very vital role to play. y y y y Payables Reconciliation IP (Item processing) Settlement B.T.F Balance transfer facility. Askari Bank offers a balance transfer facility to all its members -an easy and convenient way to transfer and pay the existing balances of their accounts, issued by other banks in Pakistan, through their Banks account.

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y

Marketing Department
The marketing department handles the activities regarding the promotional activities that are held time to time and making agreements with different retailers for getting factory prices of their products in order to make their products more attractive to the customers by cutting down prices on buying from their credit cards, like special discount on purchase from credit card.

y

Customer Services
Customer service is a very self explanatory term. Customer services involve services like; after sale service and satisfying customer needs in case they are facing any problems in the service. They also handle the applications declined by verification department, by reviewing them and sending letters to re apply for clients if they are legible.

y Operations Department
Survival and success of any organization requires its operations to be tightly monitored and performed well. Askari Bank believes in handling its operations in an efficient way. A department has been specially designed to carry the operations held. The operations department has a hawk¶s eye over all the departments working for the bank but certain departments are made a part of the operations department because of their well known importance. The departments under the Operations department are;
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y y y y y y y y

Embossing Department Mailing Department Recovery Department Collection Department Authorization Designing Department Human Resource & Greeting Department IT department.

-

Embossing Department; They receive data of clients; their work function is to print the account numbers, it is very easy to say but this department has its own significance.

-

Mailing Department; Mailing department has a very vital role in the structure their basic tasks are listed below

y

Receive Mails; mail receiving is one of the jobs of this department this is pretty tedious task, receiving mails for the entire bank, the mail include; billing receipts, new applications, billing applications etc

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y

Bills Mailing; The payment of and for the bank also follow the path which pass the mailing department Besides the above mentioned tasks though they are pretty tedious them self, the mailing department is also responsible for the inventory caretaking for the bank.

-

Collection Department; These are the people who are always being ³CURSED´ by the customers because to pay an amount from your very own pocket is not an easy thing. Plastic money is just like honey when we use it. It gives us a yummy taste because we are not using our own money, but when we receive our bills we feel like having chilly taste with lots of black pepper of this yummy honey. So people in collection department try to give customers black pepper in a very pleasant way. They make calls, calls & calls (bundle of calls) to late payment holders up till 3 months of bill issuance. They make people afraid to collect due payment.

-

Authorization; This department monitors all transactions being made on the accounts through the system. This department also looks for any fraudulent activities.

-

HR & Greeting Department; Human resource department has a check on the entire system and make sure that the employees are performing their best. Some activities performed by HR department are:

y y

Hiring new employees. Contract Renewals.

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y y y y

Performance Appraisals Increment in salaries Bonuses Decisions Leaves Greeting employees are there to greet walk in customers and guide them.

y IT Department
IT is one of the most important sectors these days, no organization is complete without the aid from IT department similar is the case with Askari Bank, IT department has the most important role that is joining the departments with each other, every department is linked with the other department by means of networking of Computer and an intercom with about 300 telephone set is laid in the center. The IT department has a lot more to contribute in the center for instance everything nowadays is done on computers and there are different software¶s for different business activities, the IT department keeps everything ready for every department. This department though does not have a visible role but can without a doubt be referred to as the back bone of the company.

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GENERAL BANKING
ACCOUNT OPENING PROCEDURE:
Opening of bank account is the primary step to a relationship between the bank and the customer. As the opening of a bank account by a person makes him a customer of the bank, the account opening process must not be considered just a formality. Knowing the customer should be the objective of the banker and customer due diligence must be done prior to establishment of the relationship. The basic documents to be obtained at the time of opening of account are:  Account opening form (Annexure µI¶)  National identity card or Passport  Specimen signature card (Annexure µII¶)  Additional documents depending on the constitution of the account

Know your customer (KYC): While opening accounts of customers, all

reasonable efforts must make to determine the true identity of the customer and the sources & utilizations of funds. To have a uniform procedure for customer due diligence, a Know Your Customer (KYC) Form (Annexure µIII¶) has been introduced which is to be completed by the account opening officer/ operations manager/ branch manager. During the course of meetings with the customer to complete the account opening formalities, they should be asked about the type of the transactions for which the bank account would

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be used and any information gathered must be recorded on the KYC Form. Any further information felt necessary and obtained during conversation with the customer should be recorded on the KYC Form and placed on record.

Informal session with the customer: An informal session with the customer should be arranged to assess and ascertain his/her credibility. While having a face to face interactive session with the customer, following points must be borne in mind, so that at the time of filling the KYC form, comments column would contain all the required and necessary information.

For a salaried person: y y y y y y y y y y Name of employer Designation of the customer Approximate salary Area of residence Residence status whether owned, rented etc. Expected inflow/ transfer of funds in the account Overall background Source of funds Accounts with other banks Any other information

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For self-employed: y y y y y y y y y y y y Name of the concern Constitution of the concern Field of operation Nature of transactions Expected inflow/ transfer of funds in the account Source of funds Legitimacy of the business Accounts with details of facilities with other banks Area of residence Residence status whether owned, rented etc. Overall background Any other information

For an organization: y Check all necessary documentation as mentioned in the manual has been obtained and all necessary formalities of account opening have been completed. y Obtain brief profile of the partners, directors etc. to ascertain their credibility. y Take adequate measures to obtain all relevant information i.e. independent verification of the partners, directors etc. and the organization. y y Obtain a report from the customer¶s other/ previous bankers Clearly understand the pattern of transactions to be conducted by the organization. y Make possible efforts to gather information relating to the customer¶s source of wealth to ensure that business is transacted
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only with customers of repute involved in legitimate business activities. y Account opening officer/ manager operations/ branch manager should personally meet the key individuals of the organization and conduct their due diligence.

Account Opening Form:
A senior officer should be designated by the branch manager to handle the account opening function. Prior to opening of the account, the account opening form and all the related documents must be scrutinized and approved by the branch manager personally. It must be ensured that all columns of the account opening form are correctly & properly filled and the customer has read & understood Rules & Regulations for conduct of accounts that are printed on the reverse of the account opening form. No column of the form should be left blank and columns not applicable to a particular customer should be marked so to guard against unauthorized additions. Following guidelines must be followed in this regard: y Title of account must be in block letters and it should corroborate the name on the National Identity Card/Passport. y The type of account i.e. Current, PLS or Term must be clearly mentioned. y The status of the account holder i.e. Resident or Non-Resident must be specifically marked. y The currency in which the account is to be opened must be specified.

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y

Full name of the customer along with the father¶s/ husband¶s name, NIC number/ Passport number, place of birth, NTN, occupation & occupational details including occupational address (the occupation must be clearly and specifically defined, vague terms such as business, trading, service etc. are insufficient, the extract nature of the occupation or the place of employment must be ascertained and recorded) personal communication details & details of Next of Kin, as applicable must be recorded.

y y

Instructions for deductions of Zakat must also be noted on the AOF. Any other instructions such as holding of mail etc. must also be mentioned on the AOF.

y

Terms of operation of the account whether singly, jointly, by either or survivor or jointly by any of the authorized signatories of the account must also be noted.

Introduction of an account
To ascertain the credibility of the customer, the account must be introduced by another account holder. Preference should be given to introduction by an existing account holder of the branch. Emphasis is being made for introduction by an existing account holder because the existing account holder¶s integrity has already been assessed by the branch at the time of opening of the account of the introducer. Such introduction must be accepted. In case where an existing account holder of the bank is introducing the account, the account opening form must be sent to the concerned branch where the introducer is maintaining his account for verification of the introduction and the account of the customer
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should be opened only upon receipt of the verified Account Opening Form. Alternatively, the signatures of the introducer can also be verified through On-line Banking System. Where the introducer is not an account holder of our bank, the introduction should only be accepted and account opened after having the signature of the introducer verified from the bank where the account is being maintained. The signature of the verifying authority must be authenticated from the Authorized Signatures Book of the bank. Introduction from employees may also be accepted but should be discouraged. In cases where a staff member introduces the account, it should only be accepted when the employee personally knows the customer¶s background/ activities. Where the customer is bringing in substantial deposits and a customer maintaining a nominal balance introduces the account, discreet market investigation must be done for such a customer. Only verification of signatures of the introducer is not sufficient to establish a new account relationship and the account must only be opened if the branch is satisfied with the antecedents of the customer. Regulation: State Bank of Pakistan Regulation M-1 of Prudential Regulations for Corporate/ Commercial Banking relates to Account Opening and thus it has been made an integral part of the this Manual as Annexure µIV¶.

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Status of customer
RESIDENT:
A resident would mean any person residing in Pakistan and holding a Pakistani Nationality or an expatriate having a valid permit for residing in Pakistan or an employee of a consulate of a Foreign Country or firms which are incorporated abroad but operate in Pakistan or a Judicial Entity licensed to operate in Pakistan.

NON-RESIDENT:
Individual firms and companies resident in countries outside Pakistan are designated as Non-Resident. All Pakistani Nationals and persons domiciled in Pakistan except persons holding office in the service of Pakistan who go out of Pakistan for any purpose viz., employment, study, business, pleasure etc. are treated as Non-Resident for so long as they remain outside Pakistan and all such accounts are regarded as accounts of countries in which the account holder is residing. Non-Resident accounts can be categorized as follows:     Pakistani nationals permanently residing and domiciled abroad Pakistani nationals who are abroad for short visits Foreign nationals residing abroad Foreign nationals ordinarily residing in Pakistan but gone abroad for short visits. Where an account of a resident is held jointly with a Non-Resident, it shall be treated as a Non-Resident Account.

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TYPES OF ACCOUNTS
1) Current Account
It is an account in which profit is paid on the balances. Any individual, firm, charitable institution, corporation, association etc, and residents as well as non-residents can open and operate a current account.

2) Profit and Loss Sharing Account
It is an account in which profit is paid on the balances. Depending on the nature of the account the profit is calculated and credited to the account monthly, quarterly or biannually. Temporary Running Finance Facility is not extended to PLS Accounts.  Profit Calculation and Payment Depending on the nature of the account i.e. whether the profit is to be calculated on minimum monthly balance, average monthly balance or on daily product basis, the same must be defined in the system. The indicative rates of profit are to be fed into the system which would then automatically accrue the profit and credit the account on monthly, quarterly or half-yearly basis as the case may be.  Deduction of withholding tax on profit The system automatically

calculates the amount to be deducted as withholding tax currently 10% for residents and 30% for non-residents on profit paid and
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credits the respective tax payable head for onward payment to the tax authorities. The withholding tax so deducted must be deposited in the Govt treasury within seven days of deduction. Withholding tax on profit shall not be deducted if the customer submits a valid tax exemption certificate issued by the Income tax Commissioner.  Deduction of Zakat Zakat would be deducted @ 2.5% on the credit balance over and above the declared NISAB for the year. PLS account holders would be required to furnish a Zakat Exemption Certificate on the prescribed format to be exempted from this compulsory deduction. The exemption certificate must be executed and submitted to the branch, one month prior to the month of Ramadan. Signatures of the customers must be verified on the Zakat Exemption Form. A check has to be applied in the system in case of Zakat Exemption failing which the system would automatically debit the same from the account on the 1st day of Ramadan each year. The NISAB and procedure for deposit of Zakat is circulated each year before the 1st day of Ramadan by the systems and operations department, Head Office.

3) Profit and Loss Sharing Term Deposit Receipt
PLS TDR is a time deposit for a fixed tenure in the shape of a deposit receipt payable on demand. The rate of return applicable on PLS TDR is based on the indicative rates of profit declared by the systems and operations department, Head Office. Full account opening formalities including KYC procedure should be followed for issuance of PLS TDR. The customer however should be encouraged to open an account. As the PLS TDR is in
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the shape of a deposit receipt, no cheque book is issued. In case of deposit through cash, voucher would be prepared by the concerned officer and handed over to the customer for deposit of cash with the teller.
y

Silent features: 

It is not negotiable  It is not transferable  Rates applicable on the original Term Deposit would be applied on the whole completed period in case of late encashment  The encashment could be made either in cash over the counter or credited to an account in case an account is maintained with the branch issuing the PLS TDR  Withholding tax at 10% for residents and 30% for non-residents would be deducted from the profit amount  In case where the instructions are for roll over on maturity, same would be rolled over and converted into a new PLS TDR
y

Preparation of a PLS TDR: Each branch is supplied with a stock of prenumbered printed blocks of PLS TDR. The same being security stationery must be kept under lock and key in dual custody and the running block, which is in use and in possession of the concerned officer, must be kept in the safe at the end of the day. The PLS TDR is in two parts, the Counterfoil that is retained by the bank as a permanent record and the Receipt, which is given to the customer. While issuing the PLS TDR following is recorded:

-

Amount of deposits in words and figures Tenure Name of depositor

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-

Maturity due The amount in figures is imprinted by a cheque writer Signed by two authorized signatories as per signing instruction The PLS TDR is delivered to the depositor upon acknowledgement which is his signature on the reverse of the counterfoil which would be verified from the signature on the Account Opening Form.

y

Due Date Diary: A Due Date Diary shall be maintained for maturity of TDR¶s.

FOREIGN CURRENCY ACCOUNTS
Foreign Currency Accounts can be opened in US Dollars, Pound sterling, Japanese Yen and Euro for both resident and nonresident. The account opening procedure would be discussed and the following types: i. ii. iii. Current Saving Fixed Deposit Additional requirements and exceptions are outlined hereunder:      No Zakat is deducted Interest on Saving account and Fixed Deposit are circulated by the International Division Prior approval of International Division would be sought for deposits of 3 months and above Deposit in cash should be avoided if the retention period is less than 2 weeks All deposits and withdrawals in all types of foreign currency accounts along with balances in each foreign currency are to be
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communicated to the Treasury Division on a daily basis as per the cut off time.  Deposits in cash would be subject to cash handling charges as per Schedule of Charges in force.

Safe Custody & Deposit Facility
Safe Custody Facility y Bankers accept valuables from customers as they have adequate security arrangements. y Banker-Customer Relationship is based on the contract of bailment. Banker Bailee Customer Bailor

Bailment: It is the delivery of goods by one person for some purpose upon a contract that the goods shall when the purpose is accomplished shall be returned or otherwise disposed of according to the directions of the persons delivering them. Obligations of the banker: y y Banker should take proper care Bailee has to return the goods subject to the demand from the bailor y y Banker should not use the articles Banker has to deliver the goods to the customer according to his instructions
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Receipt of securities: Sealed Boxes: Bank accept sealed boxes of convenient sizes While accepting a box banker should see that the box is seal with the customer¶s seal Words ³CONTENTS UNKNOWN´ should be prominently written on such boxes Sealed packets containing wills: Banker also accepts from customers for safe custody wills or sealed packets said to contain a will With the instructions to deliver the packet after his death to a named person Before delivering the packet banker should satisfy himself that the person is named as an executor in the will

Safe Custody Receipt: In case of shares, securities or articles Name & address of customer Mode of operation Full particulars of shares/securities

Delivery of securities y Full Delivery: Customer has to surrender receipt duly

discharged/signed by him
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y

Part Delivery: Customer has to submit a delivery order along with receipt

y

The bank will strike out the delivered articles from the receipt

Safe Custody Facility y Banker Customer Relationship Banker Lessor y y y Customer Lessee

Lockers cabinets are installed in separate rooms Each locker has only one key to be used by the customer The number of the key and the locker to which it relates are not the same 2nd key is known as master key it is applied by the banker while opening the locker along with the key of the customer

y

Operations of locker
y Locker operations are controlled by contract, which contains the rules and conditions which govern the vault operations y So contract is the basic document that set out the relationship between banker and a customer Guidelines to minimize improper access y y In case of joint locker, never deviate from its terms Never allow access even to an authorized agent on notice of death, mental incapacity or in solvency of the licensee or one of the

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several joint licensees until legal requirements have been properly fulfilled y Never allow excess if served with an attachment order or other restraining orders without first consulting the legal department y Customer¶s keys should never be in the possession of the custodian of the vault

Licensing of lockers y y y y y y Lockers can only be rented out to the legally capable persons Can be allotted singly or jointly Filling up and signing of application form and SS card Admission of signatures Pasting of application forms Allot locker from the ³locker chart´ and mark locker number so allotted in pencil on the chart y y Demonstrate operation of the locker to the licensee Keys of the un-rented lockers and those surrendered by the licensees must be kept in the safe under dual control of the officers

Rent Key Deposits y Initial recovery of rent & key deposit must be recorded on application form y Recovery of charges are to be balanced on monthly basis and record of each licensee of lockers is to be maintained in locker issue register y Record of key deposits and their subsequent refunds is to be made in the locker issue register
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y

As rent of locker is received in advance the custodian of locker must check the record and diaries them for necessary compliance

y

In case rent is not deposited within 7 days from the date it becomes due the licensee be requested to deposit the rent, subsequent reminders be sent on monthly basis and if after 4 reminders the rent is not received a notice be sent through Registered A/D giving therein 30 days to deposit the rent and in case of failure the locker will be broken open

VOUCHERS Dr: Cash / Party¶s Account Cr: Income Account Rent-Locker Cr: Sundry Deposits-Key Deposits

Forced Opening of Locker y In the extreme event of forced opening due to termination of lease agreement for non payment of rent locker may be opened subject to:   i. ii. iii. iv. y  Prior approval of Head Office In the presence of Notary Public Custodian of Locker Branch Manager Resident Authority After the force opening of locker: Remove contents

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i. ii. iii.

Prepare inventory of the removed articles in quadruplicate Original copy of Notary Public Duplicate is to be sent to the licensee through registered A/D post 3rd copy is to be kept along with the articles of the locker in the packet 4th copy is retained as office copy by the custodian of the lockers The packet containing the removed articles and inventory is sealed in the presence of all the persons, mentioned earlier.

iv. y

y

The packet is retained under lien against unpaid rent of the locker and other expenses incurred on the forced opening.

y

If the contents remained unclaimed for 6 months, rent and other dues have also not been paid, then the licensee be given a 30 days notice, after Head Office approval, stating that articles in whole or part will be sold to appropriate the proceeds towards the recovery of dues

y

Surplus amount, if any, shall be remitted to the ex-licensee

Breaking open lockers y In case the locker is required to be broken open by the licensee due to loss of key following steps to be taken: 1) Letter of request from the licensee on the prescribed format 2) Verification of signatures 3) Approval of manager 4) Arrangements for breaking open and replacement of lock to be made 5) Licensee is asked to remain present in the bank at that time 6) Locker should be broken open in presence of   Licensee Custodian of locker vault
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Manager operations

7) After breaking open the licensee should remove his articles from the locker

8) A certificate as per specimen is obtained from the licensee, which contains that:     Locker was broken open on his request In his presence He has received the contents He has checked the contents and found in order

REMITTANCES
³Transfer of funds from one place to another´. Products:  Demand draft  Mail transfer  Telegraphic transfer  Pay order  Rupee traveller¶s cheques  Online transfer of funds (intercity) (inter/intra city) (intercity) (intercity) (inter/intra city) (inter/intra city)

Know Your Customer y   The officer in charge of remittances department should check the following registers on daily basis Inward Remittances Register Outward Remittances Register
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y

Travellers Cheques Register Clear & complete particulars of the beneficiary of outward remittances should be obtained & recorded in the Remittances Application Form

y  

Genuineness of funds being remitted should be investigated keeping in mind following factors: Debit in the account is not an aggregate of smaller credits Deposit of cash in account immediately prior/along with request of remittances

y

Several accounts are not being debited to build up the aggregate amount of remittances where nature of business does not justify

y

The account is not being used only for the purpose of effecting/receiving remittances/transfer of funds to other accounts without any business personal banking related transactions

y

While handling remittances it should be ensured that the amount is in line with the business size/profession of beneficiary

y

All electronic/telegraphic transfers should bear the name/address of remitter

y

Branches should ensure purpose & genuineness of large purchase of multiple monitory instruments of significant amount by the customer

y

Due notice must be taken of unusual instructions such that remitted funds are expected back through some different source/country

y

Large remittances to/from countries generally associated with the production/distribution & making of narcotics, illegal weapons & other unlawful trades should be monitored

y

Genuineness of funds being remitted should be investigated keeping in mind following factors:
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Debit in the account is not an aggregate of smaller credits Deposit of cash in account immediately prior/along with request of remittances

DEMAND DRAFT
y y y Written Order To pay Money Drawn by one office of a bank upon another office of same bank

Uses: One of the most reliable modes of transfer of funds Used for intercity remittances of funds

Eligibility Criteria: Should not be a:    Minor Illiterate Persons Insane Persons Can be issued to:    Individuals Joint Names Business Concerns Can be issued against:  To the debit of customer¶s account
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-

Against cheque Debit authority

Issuance of DD y y y y Filling up of application form Recovery of charges Deposit of cash/cheque Entry in system for preparation of DD, IBCA, printing of DD issue register y Delivery of DD

Payment of DD y y y y y y y y y y On receipt of IBCA Scrutiny of IBCA Verification of signatures of officers of issuing branch Entry in the system Vouchering Payment through suspense account Special care must be exercised Entry in system Intimation to drawee branch Payment through suspense account should be authorized by the Manager Operations y Cancellation of DD by authorized officers

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Issuance of Duplicate DD y y y y y y y y Written Request Verification of Signature Marking in the System Intimation to Drawee Branch On receipt of reply from Drawee branch Intimation to purchaser Letter of indemnity Duplicate DD, which must contain on its face following wording: ³Duplicate DD issued in lieu of original No-«««.. Dated «««. Reported lost´ y y Noting in DD system Intimation to drawee branch

Cancellation of DD for refund y y y y Written request by purchaser Verification of signature Genuineness of DD is established Scrutiny of DD specially on the grounds that it has not been negotiated or duplicate of the same has been issued y DD is cancelled by tearing the signed portion of DD and marking the same as ³Cancelled´ y   y Mark cancellation of DD and date of cancellation On original application form DD system Refund of Amount
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If purchaser is not account holder than the amount of DD is credited in his account otherwise refund is made through Pay Slip. y The original DD is defaced & stapled with the Debit Voucher of Suspense account y On receipt of IBCA from the drawee branch entry of suspense account is reversed

Issuing Branch Branch y y Receipt of application Cancellation of DD Dr: suspense a/c DD cancelled Cr: party¶s a/c. cash o Scrutiny of Intimation

Drawee

System o Vouchering Dr: Bills

payable a/c DD payable y Intimation to drawee branch Branch y On receipt of IBCA Dr: MO a/c of drawee branch Cr: suspense a/c DD cancelled Cr: Mo a/c of Issuing

Crossing
Section 123 of N.I.Act 1881:

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Where a cheque bears across its face an addition of the words and company or any other abbreviation between two parallel transverse lines simply, either with or without words not negotiable the addition shall be deemed to be a crossing and cheque shall be deemed to be crossed generally. Cheque Crossed Account Payee Sec 123 A: Where a cheque crossed generally bears across it¶s an addition of the words ³account payee´ between two parallel transverse lines constituting the general crossing, the cheque besides being crossed generally is said to be crossed. Special crossing Sec 124: Where a cheque bears across its face an addition of the name of the banker either with or without words not negotiable that addition shall be deemed a special crossing and the cheque shall be deemed to be crossed specially and be crossed to the banker. Development of crossing A bank clearing clerk named Irvin originated the idea which finally led to the establishment of the London Clearing House at Lombard Street in 1775. Protection available to the Collection Banker Sec 131 of N.I.Act 1881: Condition essential for obtaining protection:

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y y y

Cheque must be crossed Payment must be received by the banker on behalf of the customer Collecting banker must act in good faith

Role of SBP y Being central bank, SBP is responsible for smooth operation of clearing system. SBP acts as bankers¶ bank. y NBP performs this function on behalf of SBP where office of SBP does not exist.

Clearing Membership y y All scheduled banks are full fledged members of clearing house. Non-scheduled banks can be sub members through a scheduled bank. y y Application in writing with a nominal fee is needed for membership. The membership ceases when a bank ceases to be a scheduled bank.

Outward clearing at branches y Receipts of Instrument  Instrument must be accepted on the Bank¶s pay-in-slip y Deposit slip should contain  Instrument number  Name of drawee bank and branch  Signature of depositor y Immediately on receipt on instrument

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Affix bank crossing & clearing stamp on the face of the instrument  Proper discharge on the reverse of instrument  Depositor account number on the reverse for ease of any subsequent reference y Computerized bank wise schedule is prepared in duplicate one copy of which is retained in the branch while other copy is sent to the main branch along with instruments y Consolidation bank wise summary is also prepared in duplicate one copy of this is sent to the main branch along with outward clearing

Guidelines for giving discharge on instrument y y y If instrument is Bearer/open, draw in favour of a limited company If instrument is bearer but crossed ³Account Payee Only´ If instrument is bearer but crossed generally (& Co/Not negotiable) drawn in favour of a limited company. y If instrument is order (whether crossed or not deposited in payee¶s account) y If instrument is order & crossed generally & being deposited in endorsee¶s account

y

If instrument is bearer & crossed either generally or crossed not negotiable, drawn in favour of a limited company

y

If instrument is mutilated but being credited to a well known customers account as payee

y y

If instrument is collected as agent for another bank In case DD being deposited in a well known customer¶s Account as payee
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y

In case of cheque being collected in special clearing for payee

Collection
Article 2 of URC 522 y For the purpose of these Articles  ³Collection´ means the handling by banks of documents as defined in sub Article 2(b), in accordance with instruments received, in order to i. ii. iii. Obtain payment or acceptance OR Deliver documents against payment &/or against acceptance Deliver documents on other terms & conditions  Documents i. means financial documents and/or means

commercial documents Financial document means bill of exchange, promissory notes, cheques or other similar instruments used for obtaining the payment of money ii. Commercial documents means invoices, transport documents, documents of title or other similar documents or any other document what so ever, not being financial document  Clean collection means collection of financial documents not accompanied by commercial documents  Documentary collection means collection of: i. ii. Financial documents accompanied by commercial documents Commercial documents not accompanied by financial documents

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BUSINESS OPERATIONS

Organizational chart

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Marketing strategy
Most companies use the term marketing mix to describe the combination of elements that they use to achieve goals for selling and promoting their products and services. When the company decides which elements it will use, it calls that particular marketing mix its marketing strategy. The major marketing management decisions can be classified in one of the following four categories:
y y y y

Product Price

=> physical item/service provided by bank => commission received

Place (distribution)=> placement of product/service Promotion product/service These variables are known as the marketing mix or the 4 P's of marketing. They are the variables that marketing managers can control in order to best satisfy customers in the target market. => means of spreading the words about the

1) Product
³The end result of the manufacturing process, to be offered to the marketplace to satisfy a need or want.´  Askari Mahana Bachat Account (1 + 3 Years Term)
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³Earn Rs. 925/- per month on investment of every Rs. 100,000/- for one year!" ³Earn Rs. 1,000/- per month on investment of every Rs. 100,000/for three years!´ Askari Mahana Bachat Account is a Term Deposit facility available to individual customer with the option of 1 and 3 Years tenure. It has been designed keeping in view savings needs of individual investors who don¶t want to block their funds for longer terms, with a competitive rate of return paid monthly on the 1st of every month. A financing facility up to 90% will be available for customers if required. Features: Product type Eligibility Balance requirement Term deposit Individual only Mini Rs.50, 000/- max Rs.10, 000,000 In multiples of Rs.25, 000/Tenure Profit payment Profit rates Servicing Financing limits 1+3 years Monthly - 1st of every month Competitive Available at all Askari bank branches Upto 90% of the principal amount 

Askari Roshan Mustaqbil Deposit Askari Bank has launched the Askari Roshan Mustaqbil Deposit, a saving plan specially designed for individual investors who wish to invest for a regular return at a later stage while keeping their principal amount intact. With Askari Roshan Mustaqbil Deposit you
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can double your investment in a time period of ten years. Invest in the form of monthly deposits for five years and get paid back the same amount for the next five years while receiving principal amount in full at the end of the tenure. Features: Product Type: Eligibility:

Term Deposit Individuals Only Minimu m Rs. 5,000/In multipl Maxim um upto Rs. 50,000/ es of Rs. 5,000/ -

Balance requiremen ts:

Tenure: Profit payment: Profit Rates: Servicing: Financing Limits:

10 Years (5 + 5) Monthly ± on completion of first 5 years Competitive Available at all Askari Bank branches Upto 90% of the principle amount after completion of first 5 years

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Askari Deposit Multiplier Account ³Value of initial investment of Rs. 100,000/- will increase to Rs. 265,000/- at maturity!´ Aim higher with your investments with Askari Deposit Multiplier account. This account is for individual investors whose purpose is long term savings with high returns. With a tenure of 10 Years and a competitive rate of return on maturity this account is ideal for investors who wish to start saving for their future today. Features: Product Type: Eligibility: Term Deposit Individuals Only Minimum Rs. 50,000/Balance requirements: Maximum upto Rs. 10,000,000/Tenure: Profit payment: Profit Rates: 10 Years On maturity Competitive Available at Servicing: all Askari Bank
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branches Financing Limits: Upto 90% of the principle amount 

Askari value plus deposits ³The Best You Deserve´ Askari Bank leads the way, yet again with the introduction of Askari Value plus Rupee Deposit Accounts, which promise greater financial freedom and security, in an un-matched way. Types of Value plus Account 1. Value Plus Current Account 2. Value Plus Saving Account 3. Value Plus Time Deposits Why Askari Value Plus Account? 1. Free issuance of Debit Card 2. Free global accidental insurance coverage against debit card irrespective of balance in the account or age of the cardholder 3. Free ATM Cash Withdrawal insurance 4. Free online funds transfer facility 5. Free internet banking services 6. Free of cost 24 hours global accidental insurance coverage up to Rs. 2 million 7. Facility of Supplementary Debit Cards 8. Monthly returns on saving deposits 9. Partial encashment facility for time deposits
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10. Automatic roll over facility for time deposits 11. Our un-matched service quality  ASKCARD Askari Bank is committed to provide innovative and competitive solutions to banking needs in a more efficient and personalized manner. Bank enjoys a strategic competitive advantage over all domestic players by virtue of its leadership, large network and technological advancement. In line with tradition of innovation, Askari Bank takes pride in announcing launch of Askari Bank's Debit Card. Askari Debit Card means freedom, comfort, convenience and security, so that one can have retail transactions with complete peace of mind. Askari Debit Card is new shopping companion which enhances quality of life by letting you do shopping, dine at restaurants, pay utility bills, transfer funds, withdraw and deposit cash through ATM anywhere, anytime. "Convenience at its best" Why ASKCARD?
y

Free of Cost (24) hours Global Accidental Life Insurance upto Rs. 500,000/- for every cardholder irrespective of balance in the account

y

Free ATM Cash Withdrawal Insurance upto daily cash withdrawal limit of the cardholder against snatching, armed hold-up or forced deprivation of money

y y

Free issuance of Debit Card for new Value Plus Accountholders Umrah Tickets for 2 lucky cardholders (Each year)

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y y y y y y y y y y

Home insurance of 10 lucky cardholders No hidden charges Free from carrying cash or cheque books Free Funds Transfer Facility Free Utility Bills Payments through ATM¶s Shopping Facility at POS terminals Maximum daily cash withdrawal limit Balance Inquiry, Mini Statement Supplementary Cards Un-matched Online Real-time Services

(Each year) 

Askari rupee traveller cheques

Askari Bank Limited has always remained at forefront in introducing innovative and unique products in banking sector. Financial instruments provide greater financial freedom and security in an unmatched way to our valued customers. Askari Bank offers you its "Rupee Traveler Cheques" eliminating all financial risks while traveling. So avoid risk of carrying cash through Askari Bank's Rupee Traveler Cheques. "You¶re Best Travelling Companion" Why Askari Bank's Rupee Traveler Cheques? 1. Free issuance 2. Free encashment 3. Profit will be offered at the time of encashment* 4. Nationwide acceptability

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5. Facility of encashment in cash to the purchaser 6. Facility of encashment through clearing 7. No purchasing limit 8. Valid until encashed 9. Easily transferable 10. Account relationship not mandatory 11. Fastest refund procedure in case of loss / theft 12. Safe & secure mode of funds transfer 13. Available in Rs. 10,000 Denomination at all branches of Askari Bank 14. Perfect substitute of your cash 

Smart Cash

Product Featuring: Resident Borrower: Pakistani Nationals Personal Facility: Line of Credit. Maximum upto Rs. Financing Limits: 500,000/(Clean) Maximum upto Rs. 1

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Million (Secured) One year Tenor: (renewable). Monthly debt Repayment: servicing on the outstanding balance. Markup Rates: Competitive.

Available at Servicing: all Askari Bank Branches Balance Transfer Facility: Eligibility to Apply: Age: Between 21 to 65 Years. Income: Minimum gross monthly Available.

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income Rs. 25,000/only. Employment: a) Salaried: Minimum length of confirmed service with present employer is six months with a total length of one year service. b) Self Employed: Minimum 1 year in business. (Against security). Charges/Fees: As per current schedule
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of charges. 

Personal Finance

³One of the quickest approval processes around´ One can avail unlimited opportunities through Askari Bank¶s Personal Finance. With unmatched financing features in terms of loan amount, payback period and most affordable monthly installments, Askari Bank¶s Personal Finance makes sure that you get the most out of your loan. No matter what your need is, Askari Bank has more ways to serve you than ever before. Product Featuring: Resident Borrower: Pakistani Nationals. Facility: Term Finance Maximum Financing Limits: upto Rs. 500,000/. (Clean) Maximum upto Rs. 1 Million. (Secured) Tenor: Maximum

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upto 5 Years Repayment: Markup Rates: Monthly Installments Competitive Available at Servicing: all Askari Bank branches Balance Transfer Facility: Available

Eligibility to Apply: Age: Between 21 to 65 years. Income: Minimum gross monthly income of Rs. 10,000/only. Financing Limits: Maximum upto Rs. 500,000/.
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(Clean) 

ASKARI MORTGAGE FINANCE

Product specification: Ever since the inception of life, shelter has been rated among the primary needs of mankind, owning a home for oneself still remains an exclusive dream for many. Askari Bank has made the realization of your dream to have a house of your very own possible. Whether you plan to build a house, tailor made to your requirements or buy a constructed house, Askari mortgage finance enables you to pursue your goal without any problems. Mortgage is a premium home financing product for customers aged between 23 ± 65 years belonging to the upper, upper middle and middle income groups, residing in the urban areas of Pakistan. 

Business Finance

You always wanted to put in that extra money into your business, which makes it grow... and grow. Now you can stop worrying about your daily cash requirements, and start enjoying our unique Askari Business Finance facility. Product Featuring: Borrower: Resident Pakistani

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Nationals. Facility: Running Finance/Term Finance. Financing Limits: Maximum upto Rs.1.0 Million Maximum upto Rs.50.0 Million Primary Security: Residential & Commercial / Built up Properly & Land. Mode of Financing: Running Finance: One year line of credit (renewable). Repayment: Running Finance: Monthly debt servicing on the outstanding balance. Markup Rates: Servicing: Available at Competitive.

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all Askari Bank Branches. Balance Transfer Facility: Eligibility to Apply: Age: 21 to 65 Years. Borrowers: Resident Pakistani Nationals. Business Requirements: Maximum upto Rs. 500,000/. (Clean) Employment: Minimum one year's business or professional experience in the present business Charge/Fees: As per current Schedule of charges Available

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2) Price
³Market value, or agreed exchange value, that will purchase a definite quantity, weight, or other measure of a good or service.´ Products prices of ACBL are determined by: 1) SBP 2) Head Office, Rawalpindi The markup or price paid for services mainly includes:  Long term loans  Short term loans  Letter of credit  Guarantees  Bill discounting  Remittances  Lockers  Bank drafts  Appraisal fee  Bank commission

3) Promotion
Promotion is one of the four elements of marketing mix (product, price, promotion, distribution). ³It is the communication link between sellers and buyers for the purpose of influencing, informing, or persuading a potential buyer's purchasing decision.´
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The following are two types of Promotion:
y

Above the line promotion: Promotion in the media (e.g. TV, radio, newspapers, Internet, Mobile Phones, and, historically, illustrated songs) in which the advertiser pays an advertising agency to place the ad

y

Below the line promotion: All other promotion. Much of this is intended to be subtle enough for the consumer to be unaware that promotion is taking place. E.g. sponsorship, product placement, endorsements, sales promotion, merchandising, direct mail, personal selling, public relations, trade shows Askari bank does its promotion through following ways: 

Brochures  Banners  Billboards  Ad in the newspaper  Direct marketing  Public relations

4) Place
Last marketing tool is placement, which includes the various activities a bank undertakes to make product and services easily accessible or available to customers. ACBL has opened almost all its branches at Commercial areas or near to commercial areas so

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that the customers or clients face no problem in reaching to the bank.

Competitive strategy
As Askari more on to device a strategic plan for coming years for Askari bank, it need to constantly remind itself that the margins are shrinking. The number of financial players in the market has gone up several times since the early 90¶s. Not only the number of players has increased many folds but they are also much better equipped with much stronger capital bases, reach and competent managements.

Analysis
I m conducting the competitive analysis between ACBL and Bank Alfalah with respect to the working of their HR department, Before conducting an analysis it is feasible to briefly overview the competitor¶s findings.

Introduction:

(Askari Bank Ltd)
Askari Bank Limited (the Bank) was incorporated

in Pakistan on October 9, 1991 as a public limited company and is listed on the Karachi, Lahore and Islamabad Stock Exchanges.

Human Resource department:
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ACBL is an organization that provides opportunities for its staff to have a challenging and rewarding long-term career. To this end the Human Resource Group (HRG) encourages and motivates its employees to excel in the responsibility that they have in the organization .It believes that creativity and innovation comes from talent, knowledge and experience and it is ACBL¶s endeavor to provide and maintain an environment which not only nourishes these strengths but also provides opportunities for the staff to have a career which has multidimensional growth opportunities. In doing so, HRG has been restructuring and redesigning the overall structure of the organization, which includes rationalization, cutting down the decision layers, improvement in staff training and hiring professionals and MBAs at entry-level management. The overall direction of HRG has been towards nurturing the strengths of the human capital to its maximum with a defining principal to help create a progressive environment and sustain a thorough commitment of our staff towards focused customer service.

Recruitment & Selection
In ACBL recruitment is done by following three ways: y y y Internal job announcement Hiring through talent pool Job advertisement

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1: Internal Job Announcement: Internal job announcement is divided into four sections. The whole procedure of recruitment passed through these sections, from announcement to recruitment. These sections are:     Segment HRD (human resource division) Staff Candidate¶s Supervisor

Steps of recruitment process: Following are the steps of whole recruitment process through announcement: Step 1: Request is raised by the segment on a ³Requisition Form´ with complete information. Step2: Budgetary and position related requirements are checked by HRD, recruitment and an internal job announcement is broadcasted through e-mail. Step3: Staff reads the internal job announcement, fills in application and submits it to HR before the mentioned cut-off date. Step4:
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Recruitment reviews and shortlist the applications, the entries are forwarded to the segment for selection by HRD.

Step5: HR conducted initial interviews of interested employees, filled IAF and sent it to the relevant segment. Step6: Segment receives the application from recruitment and calls the candidates for interview. Step7: ³Interview assessment form´/ Comments of segment are filled for the candidate with details if he/she is selected or rejected.

IF SELECTED: If candidate is selected then: Step8: Recruitment sends an e-mail request containing relevant information to HR Operations for the issuance of internal transfer letter to the candidate. In reply to the e-mail HR Operations issues a transfer order to the candidate. Step9: HR files interview Assessment form into the employee¶s personal file. Master Database is updated.
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Step10: Candidate¶s Supervisor receives the mail from HR with appropriate release date for the candidate.

IF REJECTED: After step 7 if candidate is rejected then: Step8: Staff and his Supervisor are informed.

2: Hiring through talent pool:
Hiring through talent pool is divided into two sections. The whole procedure of recruitment passed through these sections. These sections are:   Segment HRD (human resource division)

Steps of recruitment process: Following are the steps of whole recruitment process through talent pool:

Step1:

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If an appropriate resource is not selected from within the bank, HR revisits the ERF (Employee¶s Requisition Form) and searches for resumes and searches for resumes from the HR Talent Pool (On-Line)

Step2: Resumes are selected / screened by HR recruitment as per the given criteria. These are scrutinized, short listed and forwarded to the segment.

Step3: Segment receives the short listed resumes and contacts the candidate for interview.

Step4: The Segment completes the IAF with detailed comments (Recommended package, positive traits etc). Clearly indicating if the candidate is RECOMMENDED or DECLINED sent to HR with all delegated approvals.

Step5: Interview Assessment Form is received by HR.
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IF DECLINED: If resume is rejected then:

Step6: Process is closed.

IF RECOMMENDED: If resume is recommended then: Step6: Candidate is called for a final interview. HR completes the IAF and discusses the salary package with the candidate.

Step7: HR prepares the letter of Appointment and calls candidates for collection.

Note:  Upcountry / remote areas: Telephonic interviews will be conducted by manager / Assistant manager recruitment.

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CV¶S are uploaded into website (www.askaribank.com or HR online) by segments or interested candidates.  CV¶S received through walk-in, post & or e-mail will also be uploaded on the Talent Pool after through screening by HR.  HR will utilize the database to get resource information as and when required.

3: Job advertisement:
Hiring through job advertisement is divided into two sections. The whole procedure of recruitment passed through these sections. These sections are:   HRD (human resource division) Marketing

Steps of recruitment process: Following are the steps of whole recruitment process through job advertisement:

Step 1: If an appropriate resource is not selected from within the bank Internal Broadcast & HR Talent Pool, HR will then proceed with the advertisement channel.

Step 2:
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Recruitment will draft a write up for the vacant position and send it to Marketing along with a target date for publishing.

Step 3: Marketing will coordinate with the agency and develop a sample proof of the desired advertisement.

Step 4: Marketing will receive the sample proof of the advertisement from the agency, proof read it and will forward it to HR for approval.

Step 5: HR receives the sample proof from Marketing, coordinates with the segment. If OK HR gets final approved sample proof to Marketing.

Step 6: Marketing receives the approved sample proof from HR and coordinate with the agency to place the advertisement in the local newspaper.
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Introduction:

(Bank Alfalah)

Bank Alfalah was established in July 1997. Its H.O is in Karachi and bank has 49 branches allover Pakistan.

Services:
Bank is offering different types of services for all its valued customers. These services are: ATM, online banking, home loan, car financing etc.

Human Resource department:
Bank has a HR dept who perform different sort of functions. The dept advertises in newspaper for the jobs then recruitment and selection process occurs. Training and development is major task of HR dept. In HR dept there is one Executive incharge, one assistant executive incharge and personal managers.

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Selection & recruitment:
Bank advertises in newspaper & candidates apply for the jobs, after test, interview and other formalities the selected candidates are given 6 months training. Every year the bank offers 30 vacancies for the post of MTO¶S. The MTO program is a highly competitive & sought after induction scheme, in which short-listed applicants appear in a written test followed by a panel interview. Successful candidates then receive comprehensive training in essential areas of branch banking at the bank¶s state of the art training facility at Karachi. They are subsequently posted at the banks prior to their posting at various branch locations in Pakistan. Preferred educational background for entry into the MTO scheme includes an MBA degree, MA economics or M.com from reputable Pakistani or foreign institution with GPA of 3 plus or equivalent. Strong personal character, as well as communication and interpersonal skills are essential pre requisites to succeed as MTO.

Training & development:
Its management believes in developing the potential of the bank¶s employees to the fullest extent. T&D center of the bank is housed in custom built, state of the art facility on the 4th floor of the H.O building at Karachi. The center is responsible for providing multi-level high quality training programs to all staff members in the following areas:  Consumer banking operation  Credit marketing & credit proposal
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Credit administration/documentation  Trade finance operation  Marketing & selling skills  Customer service skills  Performance appraisal skills  Time management  Personal effectiveness It is obligatory for each staff member of the bank to attend at least one training program. Wherever the training department is unable to provide focused training for certain groups of staff, reputable external training providers are invited to fill the gap. The candidates are given 6 month training in which theoretical lectures are given along with different case studies, situations & presentations techniques. Groups are made to enhance coordination and team building candidates with different skills and abilities are appreciated for their creativity. During the job formal & informal meetings are conducted where all employees are free to speak and they can give different ideas and plans. Employees are encouraged for continuous learning and bank even send its employees for special training courses to abroad. Main training pressure paid of Bank Alfalah is also same to that of ACBL, i.e. y Identification that either the training of current employees is necessary or not, depends on the result of Annual Performance Report.

Reward system:

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Each manager submit the report of his subordinates to his boss in which they evaluate his employees from different dimensions and if audit report of any branch show negative impact than all types of increments are stopped of all employees of that branch.

Analysis
Analyzing the training and development practice of ACBL and comparing it with T & D of Bank Alfalah it is concluded that currently ACBL is effectively meeting its targets, but to encounter with future demands, ACBL needs to overcome some short comings in order to maintain and gain competitive edge.

Business process analysis
In FY09, for the first nine months banks were reluctant to lend to corporate and individuals owing to skyrocketing bad loans amid lack of demand from industries who were avoiding high financial charges. But, with some sign of economic recovery, lately, with inflation tapering off amid marginal growth in large-scale

manufacturing sector, the demand for corporate credit gradually rose. However, attractive rates offered by government bonds still remain lucrative enough - wooing banks to put depositor¶s money in

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low risk papers instead of meeting the demand of private sector (Industry review, Business Recorder, 2010).

Financial performance:
Askari Bank was able to post an after-tax net income of Rs 1.18bn in FY09, which is 187% increase from the previous year of FY08. The bank has been able to accomplish this through various ways. Its year-on-year mark-up interest income increased by 23%, mounting to Rs 22bn in FY09. Following this, we observed that there was a huge increase in particulars of provision for impairment in value of investments by 1500%, as the amounted augmented to Rs 76,784 million in FY09 compared to Rs 5 million in FY08. This was due to the charges for the year that were charged on the investments made by the bank. Second was the increase in the gain on sale of investments, which increased by 291% amounting to Rs 143 million in which two main particulars have to be pointed out. GAIN ON SALE OF INVESTMENTS - NET (000s) Market Treasury Bills Shares - Listed 6,682 Such high increase in sale of investments, have yielded in high profits for the bank for FY09. The scenario of the NPLs does not seem very favorable for the bank. The NPLs have consistently seen an increase, indicating that the bank is either not very efficient at collecting the outstanding loans or has a very liberal loan distribution policy. Their pace of
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2009 62,177 47,015

2008 266

growth has outdone the rate of increase in advances. The bank may face considerable credit risk from its loan defaulters. In FY06, bank s advances witnessed marginal increases in consumer finances, especially Ijara financing, corporate financing while they observed a slight decline in the shares of SME and agriculture.

The assets of the bank witnessed some shift in their composition away from loans towards investments. This has also been the trend industry wide to meet the MCR requirements as directed by the State Bank of Pakistan. Though these investments offer lower returns than the loans, they are more preferable in this situation for the bank as it is struggling to get its loan..

In FY09, the bank maintained its marginal increase of lending to financial institutions as it only increased by 3%, similarly the advances too are seen as controlled lending as these also increased by a mere 5%. The reasons tend to be the same as it were in the previous year. Low advances because of high NPLs raising from consumer banking and also from certain sectors of the economy especially the textile sector. However, on the flip side, we see a dramatic increase of 88% of investments, which amounted to Rs 135bn. The investments category is further broken down to see where investments are done. The liquidity of the bank has maintained a consistent upward trend, with its yield on earning assets always above the cost of funding them. It s imperative to note that cost and yield on funding earning assets run parallel which means that banks are not compromising on their spreads in the years of performance regardless of dynamic economic conditions. This liquidity consistency in the years until FY06 may be attributed to the excess liquidity that prevailed in the
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industry due to high reserve growth of the banking sector.

The State Bank of Pakistan intervened in this situation by contracting the monetary policy. Also, post-emergency declaration when the rupee fell, the SBP intervened twice to ease the liquidity conditions in the market. The SBP has prudently managed the liquidity while the bank also has certain arrangements to maintain its liquidity. It has most of its investments in treasury bills. The liquidity position may be predicted to remain similar to the above in the coming years. However, at the same time Askari needs to safeguard its liquidity against the increasing NPLs.

Askari Bank was able to maintain its liquidity condition with keeping its ratios in line with previous year of FY08. The earning assets to assets remained at 81% as much of the percentage was due to the fact of a high increase of investments in the government securities. Subsequently, advances to deposits remain constant at 71%, as the bank did not increase its advances to consumers due to high NPLs to advances in the previous year.

The bank s spread was sustained at 4% as it only decreased marginally by 1%. This was because the industry average remains to be at 5-6% for FY09. This again helps us to understand the positivity of the bank in such recessionary condition that they are not compromising on their spread and maintaining at 4%. The solvency of the company has been successfully maintained over the years. As evident, the share of equity is increasing. This may be regarded as a move against the rise in deposit rates and a decrease in the banking spread of the banking sector. This healthy trend in solvency may be predicted to continue in the future. The
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greater than earning assets deposits are the result of excess reserve money growth while the increase in the non-performing advances has undermined the advances performance. With the gradual shift to investments, we may expect the adverse impact of the NPLs to reduce, but this may take a long time.

The trend of maintaining healthy solvency was carried out even in FY09, as the equity to assets was maintained at 6.1%, along with this the earning assets to deposits remained 100%. This shows the asset based is well utilized by the bank and with the new trend to shift towards low risk investment of government securities. As observed more of the deposits are concerned with long-term deposits.

Asset quality has been improving since 2008. We saw a decrease in provisioning to NPLs in FY09, as it decreased by 7% from FY08. With the new regulation by the SBP of keeping Forced Sale Value to 40%, the upcoming provisioning would be lower than the previous ones. The asset quality was also maintained as low advances were given to consumer as well as other corporate sectors; therefore the NPLs to advances also stood still at 9% in FY09, whereas the NPLs were still the same for the period but not increasing as can be seen through previous years.

The market value of the bank has shown an upward trend throughout. The bank has been a consistent distributor of the dividends. The increased profitability of the banking sector (an increase of around 100%) has made this sector one of the most lucrative ones to invest. This increasing marketability profile is reflective of Askari s high yields on earning assets and favorable
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liquidity and solvency positions. We may expect such trend to continue in the future. In FY06, the high share-price of the bank is accountable for this trend. Market value to book vale are not reliable measures of performance anymore as the market prices of shares are distorted therefore it does not depict a true picture.

In FY09, the market value rose after the nine months ending showing a late year push towards the recovery of the economy. As the investors gained confidence in the company, the results were shown as the EPS surged from Rs 0.95 to Rs 2.18 in FY09. However the dividend payout remains very low, as low as 0.07%.

The bank has maintained its reputation as one of the consistent payers of dividends. This year the bank did not give any cash dividends rather it gave stock dividend, this would help bank in two ways, first, by maintaining liquidity and second by making up for the MCR requirements. The bank was able to maintain a healthy 11.5% contrast to minimum requirement of 10%.

The required minimum capital requirement can be achieved by the bank, either by fresh capital injection or retention of profits. The stock dividend declared will be counted towards the required paid up capital of the bank pending completion of the formalities for issuance of bonus shares. The bank intends to meet this

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requirement by way of bonus issue subsequent to balance sheet date, in this year.

Future outlook
The banking industry can be seen positively as some private credit increase is observed in the year-end of 2009 and started picking up. With key policy rate at 12.5% the SBP maintains to keep a balance and wants to increase the circulation of the money in the economy and not keeping it tied up.

On the other hand, much of the investments still lie on the government securities as the government borrowing.

With uncertainty still hovering in the economy and the inflation till Feb 2010 still remains high at 13.8%, the key policy rate is designed neither to be tight nor to be sluggish. Therefore much can be expected in the upcoming year, as the pace for economy recovery along with increase private credit can uplift the economic cycle.

Concerns of SLR and CRR are not in consideration for most banks as healthy safety is kept to ensure no bankruptcy is involved.

The only matter of concern would remain the outcome of the new monetary policy which is said to be designed in a way to boost the economy.

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Askari Bank in particular remains strong in terms of their balance sheet as their asset base is strong and their liabilities are more of long term. Along with this the current year performance is considered extraordinary. Therefore positive expectation can be anticipated for the bank.

S.W.O.T. Analysis
SWOT analysis gives a very good analysis of what the firm is, what it wants and what can it do to get better than it is at the same time indicating the factors that could lead to a havoc. SWOT is an abbreviation for; y y y y Strength Weaknesses Opportunities Threats

Strengths
Askari Bank has set its firm foot in Pakistan and has gained its strengths over the period of time an effort of enlisting its strengths can be done as follow;

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y

The past decade has been the biggest strength because that was the time when there was not much of the competition and it gave time for the company to adjust and now it has grown better than the rest

y

It has a good reward policy of giving bonuses and incentives for its customers.

y y

Askari Bank has a flawless Customer services The MIS they use in the company is always updated well ahead of time giving the bank an upper edge

y

Honesty, Equality and fairness prevail throughout the organization and that is the utmost requirement.

y y

The card division has strong network facilities nationwide ACBL has got a well-developed on-line system in most of its branches. Remittance Department is working very efficiently in transferring the funds of people due to this system.

y

The bank has also started ATM facility in most of its branches. 24hour banking is new trend in Pakistan and ACBL has also taken apart in this trend.

y

One distinctive feature of the bank is that it is the only bank working for the welfare of army officers, which was established by Army Welfare Trust.

y

The productivity of the bank is very good. Bank is providing a high quality service to its customers.

y

ACBL have strength that most of the imports & exports which are done are handled by ACBL.

Weaknesses

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y A certain education level should be set for a particular task, it adds up to the hard-work, the company has some undergraduates as well which can effect the company y Its good to have a friendly working environment but there should be a code of conduct. y Because of the increasing workload the employees a being over burdened y The inventory management is not up to the mark y Promotions and transfer from departments is a political issue. y Bank is not introducing new products and new saying schemes. Bank should boost the product development and increase the range of facilities offered for customers..

Opportunities
y Better and convenient services to employees and business class. y Expansion of their branch network can be very helpful. y Engage qualified professionals for providing specialized banking products and services to their customers, reorganization of existing systems as well as Infrastructure with de-centralized work processes. The human resource factor plays a critical role maintaining the efficiency and profitability level of the bank in future. y Institutionalization of HRM (best person should be posted for best assignment), depoliticizing the atmosphere. y Bank can extend its network in other countries. y It can enhance its profitability by making use of new technology.

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y The plastic money business still has a lot of potential to grow so it gives the company an opportunity to introduce new products and services. y They should keep on looking for opportunities in the market because it¶s a first come first served situation.

Threats
y Very uncertain economic conditions. y Actions taken by competitors. y Political instability. y Employees turnover rate is too high y Politics involved in a working atmosphere has never done well for the company it has always gone the other way round. y ACBL has many competitors, which are continuously increasing its products and marketing aggressively. It may cause its customers to shift to competitors. y Some other banks have competent taskforce, which is also a threat for ACBL, because human resource is the most valuable resource. y Pakistan India relations often create a war danger. This chance of war may cause army officer and their families to increase the frequency of withdrawals, which would decrease deposits.

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LEARNING
One of the most important aims of student¶s life is to express himself correctly and adequately, with this belief in mind, I decided to go to Askari bank to complete my internship program. Determined, confident and persistent in the pursuit of knowledge and learning, I was on my to Askari bank DHA II branch in the morning of 21st June 2010. 

Duties
I performed different duties that were assigned to me throughout the internship. Duties that I performed during my 6 weeks of internship are related to different departments. I performed my duties in departments like:  Accounts department  Account opening  Credits  Remittances  Foreign & international trade I also perform my duty of operating photocopy machine and fax machine. 

Accomplishments
I worked in different departments, but the knowledge I gained from accounts department is very valuable. I really liked
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working in that department. Working in this department was quiet tough as compared to other departments but the knowledge I gained from that department was very helpful to me. The internship program is very beneficial. It provides me good opportunity to learn new things. Moreover it teaches me to know that world of study and world of work are completely different. Unlike studying, working life is not smooth. Often, I faced many problems during working. I found that there are two valued things that help me to solve problems are ³braveness and patience´. Brave to face and be patient to solve them. 

New Knowledge Acquired
All the knowledge I acquired from my internship is new to me, because I had never done internship before. Directly communicating with customers and fulfilling their basic

requirements was totally a new experience for me. I learned how to communicate effectively and efficiently with customers. Internship also improves my communication skills with different persons in well manner. During working at Askari, I had a chance to use every of English skill.

First is writing. I was assigned to write many kinds of letter such as official letter of invitation, letter of sympathy and letter of informing. This not only made me improve my writing skill, but I also learned how to write proposals in the real situation.

Second is reading. All the documents are in English so it is
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necessary that reading and understanding skills should be good. Reading English documents everyday helped me have a better reading skill. I can read faster and can find out main point easier.

Third is listening and speaking. Since I worked with foreign exchange & international trade manager for 1 week, she speaks with me in English most of the times. Throughout the week in foreign exchange & international trade department, I had to communicate with supervisor and colleagues in English. Of course, my listening skill is improved and had more confidence in speaking English. 

Problems Encountered
Internship was a good experience for me, but there are some problems which I faced in the begging of my internship. During the internship program, I faced some problems in my work. The first problem is writing official letters. I had to write many kinds of official letter or proposals in English which I have never written before; for example, the official letter of invitation, the official letter of informing and the official letter of sympathy. These letters had been sent to different companies for their credit requirements, therefore, it needed exquisiteness. I tried my best to cope with this problem by trying to study the previous letter and consulted with my mentor, Mr. Bilal Zahid and Mr. Osman Yusuf, Credit manager. However, this kind of problem taught me to learn new vocabularies and idioms used in business world. For me it is very beneficial.

Besides writing official letter, I had some difficulties in translating
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documents. I was assigned to translate the documents both from English into Urdu and Urdu into English. This was my first time to translate official documents. For translating English into Urdu, my heavy-hearted thing was that there are several technical terms that I have never seen before. Moreover any dictionaries couldn¶t help me. The best way to solve this problem was ³don¶t hold on form´ but had to interpret and translate them from the context. For translating Urdu into English, I was assigned from Credit officer to translate advertisement and credit manuals. I haven¶t been accustomed to using credit language, so it was quite difficult for me. I coped with this by learning advertising language and idiom used in Internet, magazine and newspaper in order to be guideline in using credit language appropriately and accurately. 

How Experience Impacts your Career
Upon the start of my internship at Askari bank I did not have a lot of experience in public relations. In some capacity I knew that I would be working towards improving the image of customers and my supervisors, which in this office ranges from high tech startups, to publicly traded companies, to profit and nonprofit organizations. However, I was unsure of what exactly an intern in the services industry would be responsible for on a daily basis. After six weeks of my internship i can honestly say that I have learned a great deal about the industry itself and I now have a more

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concrete understanding of what the job description is for one who works in public relations. Among the many things that I have learned almost in the last two months, the most important for me are the general knowledge that I now have about the field, as well as the tools that I have gained that will enable me to perform better when working in the industry. The internship program at Askari bank has provided me with a strong foundation for what might likely be the start of a career in public relations. I now have confidence in myself that I can work successfully in a services firm and be a strong asset to a hardworking team. However, just as a house is not complete after the foundation is laid, there is still much more for me to learn and experience. I look forward to continuing this path of learning and exploration and will not forget what I learned during my six weeks of internship.

Identification of plausible problem(s)
There are problems being faced here at Askari Bank some of which can easily be highlighted;

y

Bank is facing a high tax rate, which affects its profitability and attractiveness for new entrants.

y

Middle class and low income group have limited access to bank credit.

y y

Weak internal controls, non-merit based recruitments High administrative costs affect the performance of bank.

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y y y

Continuous maintenance is compulsory Favoritisms while promoting employees. Education level of the employees

Recommendations
Besides taking care of the above mentioned problems there are some recommendations which can be advised to the bank, which can be helpful for the Bank: 1. Employees should be given a course of training from time to time or they can also use the on the Job training method. Training can be done in the following areas y y y Better training of employees in the communication skills area Undergrads have to be trained accordingly Continuous training about the latest updates

2. New advertising campaigns should be launched especially in the electronic advertisement areas 3. There is a need for expansion of the working area especially in the finance department as the work load is increasing and new recruitments are compulsory
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4. Politics should be discouraged in such an environment 5. The employees should be given more incentives and rewards for their good performances 6. There should always be innovation in any business to flourish and there is a lot more to explore in the banking sector and its always first come first served.

Conclusion

y

Banking is one of the most sensitive businesses all over the world as banks play very vital role in the economy of a country and Pakistan is no exemption.

y

Askari Bank has been growing both in size and profits for past few years and is one of the most reputed groups. It has gained a good repute in the banking sector of Pakistan.

y

Employees are the most important assets for any organization as the success of any organization lye in their hands, therefore there is a need the group to focus on the needs of their employees. The bank has to overcome its weaknesses and should avail the opportunities available in the industry, because competition is very intense particularly in the banking sector these days the
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organization which offers far better services to its customers than its rivals will succeed ultimately.
y

I have made an honest attempt to generate an original piece of writing that could serve as a vivid proof of the fact that students at Comsats Institute of Information Technology (CIIT) are certainly no mugs at what they do. I truly hope that this report also certifies the fact that all of my worthy teachers performed their duties of academic guidance and moral mentoring with utmost efficiency and effectiveness.

Bibliography y y y y y y www.askaribank.com.pk www.wikipedia.com www.google.com www.answers.com www.sbp.org.pk Askari bank general banking mannual

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