INTERNSHIP REPORT

‘SUMMIT BANK LIMITED, DAROGAWALA BRANCH,

LAHORE.’
NAME:-

AQEEL SABIR

QUALIFICATION:-

MBA FINANCE ( CONTINUE IN 6 TH SEMESTERS)

INSTITUTE:-

UNIVERSITY OF CENTRAL PUNJAB

Summit Bank limited, Darogywala Branch Lahore

Contents
ACKNOWLEDGEMENT 4
EXECUTIVE SUMMARY 4
HISTORY 5
MOTTO 5
CONVERSION TO ISLAMIC BANKING 5
VISION AND MISSION 5
Vision 5
Mission 6
BOARD OF DIRECTORS 6
MANAGEMENT TEAM 9
BUSINESS AND BRANCH NETWORK 10
FUTURE OUTLOOK 10
ORGANIZATIONAL STRUCTURE OF SUMMIT BANK DAROGHAWALA BRANCH 11
PROCEDURE OF NEW ACCOUNT OPEN 12
PRODUCTS\SERVICES OFFERED BY SUMMIT BANK LIMITED 13
CURRENT ACCOUNT 13
Salient Features: 13
Who Can Participate? 13
ASAAN ACCOUNT 14
FEATURES & SERVICES 14
TERMS & CONDITIONS 14
BUSINESS ACCOUNT 15
Contract & Mechanism: 16
Who Can Participate? 16
Value Added Services. 16
DAILY SAVINGS ACCOUNT 17
Salient Features: 17
Contract & Mechanism: 17
Who Can Participate? 17
Here is What You Further Receive for FREE* 18
BACHAT SAVINGS ACCOUNT 19

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 Salient Features: 19
Contract & Mechanism: 19
Who Can Participate? 19
Value Added Services. 20
HAMARA FAMILY SAVINGS ACCOUNT 20
Key Features 20
Value Added Services 20
Eligibility 21
REMITTANCES 21
AMANAT CASH 21
Key Features 21
Benefits 21
Value added Services 21
CASH HOME DELIVERY 22
ELECTRONIC SERVICES 22
INTERNET BANKING 22
Services offered through Internet Banking: 22
INTER BANK FUNDS TRANSFER 23
Transfer Funds through ATM 23
Transfer Funds through Internet Banking 23
MOBILE BALANCE RECHARGE 25
How to Use 25
MOBILE BANKING 26
Transaction Alerts 26
BILL PAYMENTS 26
CONSUMER BANKING 27
PERSONAL LOAN 27
Benefits: 28
Requirements: 28
AUTO LOAN 29
Features 29
Benefits 29
SUMMIT GOLD LOAN 30

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 Features: 30
Benefits: 30
Requirements: 31
AUTO SHIELD 31
Company Profile 31
FEATURES 32
HOME FINANCE 32
Features 33
Benefits 34
Requirements 34
CONCLUSION 35
SUGGESION 35
REFERENCES 35

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 ACKNOWLEDGEMENT
By the Grace of Almighty Allah, the most Merciful, and the most Beneficial, due to the generous
blessing of Almighty Allah, I become able to contribute
this report on completion of my internship period at Summit Bank Ltd, Darodawala Road
Branch, and Lahore. This report is prepared for share the experience and learning. I
am thankful to the staff of Summit Bank Ltd. Darodawala Road Branch, Lahore

Mr. Ch.Azhar Iqbal  (Branch Manager)

Mr. Rohail Sohail  (Operations Manager)
Mr. Malik Umar Farooq (Relationship Manger)
Mr. Muhammad Usman Akram (Customer Services Officer)
Mr. Imran Shabir (Customer Services Officer)
Mr. Malik Maqbool (Head Teller)
Mr. Arslan (Teller)
Mr. Khalid Mehmood (Teller)
Because without their cooperation I was unable to write this internship report. In last I would like
to acknowledge my thanks to my parents, my Brothers, my teachers and friends, for their help
and support.

EXECUTIVE SUMMARY
The purpose of study was to know about Summit Bank Limited and to analyze the financial
statement in this report the Summit Bank’s history, mission, vision and services
as well as management is mentioned. After this the analysis of financial statements is conducted
which shows where the Banks is standing. Banking sector of Pakistan has been transformed
within a short period of 5 years from a sluggish and Government dominated sectors to a much
more agile, competitive and profitable industry speed and sequencing of banking sector
transformation and its role in promoting economic growth is now a leading story of a sector
success.
I did my 6weeks internship in Summit Bank Limited Darogywala Branch Lahore. During
internship I was rolled over in departments. Summit Bank made heavy investments toward
senhancing its capabilities in the area of automation and
technology. It is well positioned to meet client needs, with improved competitive advantage.

During my six weeks internship in Summit Bank Darogywala Branch Lahore, I spend my time in
following departments:
● Customer Services Department

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 ● Clearing Department
● Remittances Department
● Relation Department
When I conduct financial and trend analysis of Summit Bank, I
found that its financial position is improving year by year.Comparative study with other banks
shows that it is some what better then other banks. I concluded that Summit Bank is performing
very well. 

HISTORY
In October 2007, Arif Habib Securities Limited under the Scheme of Amalgamation set by the
State Bank of Pakistan acquired the Pakistan Operations of Rupali Bank Limited; hence forming
Arif Habib Bank. In 31st March 2010, Suroor Investments Ltd, a Mauritius based investment
firm, acquired 59.41% stake in Arif Habib Bank Ltd from Arif Habib Securities Ltd, and on the
18th of August 2010, Arif Habib Bank Ltd was rebranded as Summit Bank Ltd.
Summit Banks parent company, Suroor Investments Ltd, later acquired majority shares of
MyBank Ltd and Atlas Bank Ltd in Pakistan. The operations of the later mentioned banks were
then merged under the single umbrella of Summit Bank Ltd, thus expanding the Bank’s network
to more than 190 Branches.

MOTTO

Our Motto “Committed to you” underscores the commitment the bank aims to fulfill to its
customers.

CONVERSION TO ISLAMIC BANKING

Aspiring to become the bank of preferred choice, Summit Bank has decided to convert itself
into a full fledge Islamic Bank. We are guided by an eminent board of Shariah scholars and
practitioners with extensive experience in the field and Alhamdolillah our 48 branches
distributed in 23 cities, are now offering Islamic banking opportunities with an extensive range
of Products & Services.

VISION AND MISSION

Summit Bank prides itself on being the bank that its customers can trust and rely on for the
best banking and financial services in the market.
Vision
“To be the preferred provider of financial products & services to the markets.”
Mission
● To be a financial institution based on trust, integrity, and good governance.
● To deliver financial solutions to our customers.
● To provide equal opportunities & a professional working environment to our employees.
● To provide fair returns to our shareholders on their investment.
● To serve the community at large.

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 ● To discharge corporate social responsibility.

BOARD OF DIRECTORS
H.E Nasser Abdulla Hussain Lootah
Chairman
Mr. Husain Lawai
Vice Chairman
Mr. Muhammad Zahir Esmail
President & CEO
Mr. Shehryar Faruque
Director
Mr. Asadullah Khawaja
Director
Mr. Md. Ataur Rahman Prodhan
Director
Mr. Mohammad Faisal Shaikha
Director
H.E Nasser Abdulla Hussain Lootah – Director & Chairman
H.E. Nasser Abdulla Hussain Lootah is the Chairman & founder of Nasser Abdulla Lootah
Group (NALG) setup more than 45 years ago in the UAE. The Group has a well-diversified
strategic portfolio that includes travel, shipping, cargo, logistics, mineral water, real estates,
trading information technology, interactive media, production and brand media communications.
H.E. Nasser Abdulla Hussain Lootah is Patron of the Australian Business Council – Dubai.
Based on strong leadership capabilities he was appointed as the Director for the office of the Late
Vice President, Prime Minister Sheikh Maktoum of Dubai.
Mr. Husain Lawai –Vice Chairman
Mr. Husain Lawai is a seasoned banker having vast experience in the banking and financial
services industry. He has previously served as President and Chief Executive Officer at MCB
Bank and Director at Security Investment and Finance Limited, UK. He established the Pakistan
branches of Faysal Bank Limited(previously Faysal Islamic Bank) , the first Islamic Shariah
compliant bank in Pakistan. He was also General Manager, Emirates NBD Bank for Pakistan and
the Far East.
He holds a Master’s degree in Business Administration from the Institute of Business
Administration, Karachi.
He was President and CEO of Summit Bank Limited from November, 2008 to February 2016
and currently he is the Vice Chairman of Summit Bank Limited. Mr. Lawai is the Chairman of
the Central Depository Company of Pakistan. He is also serving on the Boards of
GlaxoSmithKline Pakistan, Wyeth Pakistan Ltd and the Searle Company Limited, and is the
CEO of The Institute of Bankers Pakistan (IBP) Council.

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Mr. Lawai is also on the Board of Governors of Karachi Grammar School & Virtual University
of Pakistan.
Mr. Muhammad Zahir Esmail – President & CEO
Mr. Muhammad Zahir Esmail is a graduate from Karachi University and a seasoned banker with
45 years of experience in the banking industry. At the start of his banking career, he served
Habib Bank Ltd for six years as manager of different branches in Karachi and then joined Habib
Bank AG Zurich in Dubai. His in-depth banking knowledge, customer friendly approach and
assiduity compelled Habib Bank AG Zurich’s top management to open a subsidiary of the Bank
in South Africa and he was assigned the role of General Manager and Executive Director of the
Bank from 1995 to 2000 following this, he took charge of Habib Bank AG Zurich Pakistan’s
operations as Chief Executive Vice President and Country Head. Within a span of a few years
there, he managed to spread a large network of branches in Pakistan. He then served Habib
Metropolitan Bank Ltd as Chief Executive from October, 2006 to March, 2008.
Mr. Esmail is a qualified post graduate diploma holder in Islamic Banking. He joined Bank
Islami Pakistan Ltd as Head of Corporate and Retail Banking, where he served for 9 months, and
then joined Arif Habib Bank Ltd as Senior Executive Vice President, Head of Corporate,
Retail/Branch Banking, Consumer, and SME & Commercial Banking. After Arif Habib Bank’s
merger, Mr. Esmail was promoted to the position of Chief Operating Officer of the new formed
Summit Bank Ltd, where he served for 8 years.
Currently he is President and CEO of Summit Bank Limited since February 2016.
He has  worked under different conditions and in various capacities from Branch Manager to
Chief Executive, General Manager, Country Head and Executive Director, and undoubtedly
possesses diversified and rich banking experience, multifaceted exposure and versatility in
handling matter of the banking and financial sector.
He was awarded 37 times Gold Medal (One Tola Gold Bar) on his best performance and was
also declared as Best Administrator in whole Habib Bank AG Zurich, in the Bank’s Annual
General Meeting held in Dubai in the year 2006 by the President Mr. Haider Habib.
Mr. Shehryar Faruque – Director
Mr. Shehryar Faruque has more than 30 years of experience on various positions of Ghulam
Faruque Group. He has completed his B.A. Marketing & Management from Davis & Elkins
College (USA). Currently, he is on the Board of  NBP Fullerton Asset Management Ltd, as well
as on the of several companies of Ghulam Faruque Group.
Mr. Asadullah Khawaja – Director
Mr. Asadullah Khawaja has 35 years of experience in the field of investment banking. During his
last 5 years of service, he served as Managing Director Investment Corporation of Pakistan (ICP)
1995-2000.
Mr. Khawaja also held additional charge as Chief Executive of Bankers Equity Limited (BEL)
and National Investment Trust Limited (NITL). He has also served as Chairman of Pakistan
Industrial Credit and Investment Corporation of Pakistan (PICIC) and Packages Ltd, and is
presently Chairman of Arif Habib Corporation Ltd.
Mr. Khawaja has attended several professional training courses on public sector policy and
management, investment analysis, and portfolio management, conducted by various institutes
such as Harvard University, the World Bank, the University of Pennsylvania, etc.

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Mr. Md. Ataur Rahman Prodhan – Director
Mr. Md. Ataur Rahman Prodhan joined Rupali Bank Limited as Managing Director & CEO on
28th August, 2016.Prior to this assignment, he was Managing Director of Probashi Kallyan
Bank, Deputy Managing Director of Sonali Bank Limited and CEO & General Manager of
Sonali Bank (UK) Limited. Mr. Prodhan started his banking career as Financial Analyst in Sonali
Bank Limited from the year 1984. During his long banking career he worked in different
branches as Branch Manager, Corporate Branch Incumbent, Head of Local Office, Principal
Office and Head of various Divisions in Head Office.
Mr. Md. Ataur Rahman Prodhan completed his B. Com (Hon’s.) & M. Com in Management
from Dhaka University. He is a Diploma Associate of the Institute of Bankers, Bangladesh. He
attended a number of training programs/workshops/seminar at home & abroad. Mr. Prodhan is a
Rotarian and involved with a number of social activities.
Mr. Mohammad Faisal Shaikha – Director
Mr. Faisal Shaikha is a graduate from the University of Karachi having degree in Commerce. He
is a seasoned banker with 34 years of experience in the banking industry in various fields such as
Branch Operations, Treasury and Financial Institutions. He has served in Chase Manhattan Bank
for 4 years, in Faysal Bank for 17 years and now his association with Summit Bank spans over
13 years. His in-depth banking knowledge, vast experience in treasury has led him to the top
position in the management and now is serving as a Senior Executive Vice President & Group
Head of Treasury & Financial Institutions in the bank.
He was the President of Financial Markets Association of Pakistan (FMAP-ACI Paris) from
2012 to 2014 and remained involved in a number of social activities.
He has attended several professional training programs/workshops/seminars both at home &
abroad encompassing courses on International Financial Markets and Financial Derivatives,
Treasury and Portfolio Management, Correspondent Banking, International Trade &
Payments conducted by various banks which includes ABN-Amro, Standard Chartered Bank,
Mashreqbank and Habib American Bank, etc. He has also attended Asian Development
Bank’s meetings in Frankfurt-Germany.

MANAGEMENT TEAM
Muhammad Zahir Esmail
President & CEO
Syed Mohammad Anwar Lutfullah
Group Head Information Technology, Digital Banking, Service Quality and Administration
Divisions
Irfan Saleem Awan
Chief Financial Officer
Ahsan Raza Durrani
Group Head Credit
Gulrays Khan
Group Head Internal Audit and Inspections

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Faisal Shaikha
Group Head Treasury & Financial Institution
Imran Ahmed
Group Head Islamic Banking
Kamran Ashraf
Group Head Retail & Branch Banking
Abdul Karim Sultanali
Group Head Corporate & Investment Banking
Aziz Morris
Group Head Risk Management
Farrukh Ayaz
Head of SME & Commercial
Habib-ur-Rehman
Group Head Special Asset Management & Fraud Management
Muhammad Farhan Babar
Head Compliance
Shahid Sumar
Head Information Technology
Syed Adnan Ali
Chief Digital Officer
Rashid Qureshi
Head Country Operations & CAD Operations
Syed Shafaat Husain
Head Human Resource
Nazia Butt
Head Legal
Faisal Murad
Head of Consumer Banking
Muhammad Najeeb Khan
Resident Sharaih Board Member
Syed Muhammad Talib Raza
Company Secretary

BUSINESS AND BRANCH NETWORK

After the completion of the merger processes, the Summit Bank Limited is now operating with
the network of 165 branches all over Pakistan offering a wide range of products and services to

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its customers and the community at large. Consequent to the merger of the three banks, multiple
branches in the same vicinity have been relocated to the strategic locations. This not only
widened the Banks presence in more areas but also reduced the annual rental cost by 53 million
approximately. The e-banking services were introduced that satisfied the needs of different
customer segments. The Bank also successfully entered the VISA International network
byAugust 2011. Besides broadening the Bank’s sources of foreign exchange andincome,
our entry into the VISA network means that owners of VISA-brandedcards issued anywhere in
the world can now, without restriction, enjoy the convenience of having access to local currency
funds at all A TMs of the Bank. The internet banking facility of the Bank continues to provide
immense convenience to both personal and business clients who need to regularly access and
monitor their transactions. The Internet Banking service now provides customers the ease of
being able to make transfers to other accountholders in the ease and comfort of their own homes
or offices.

FUTURE OUTLOOK
The bank has ambitious but realistic plans for the future; it intends to focus on widening and
diversifying its customer base, introduce
new and innovative products/services including tailored services to meet specific needs of  the
individual clients. May be after sometimes Summit Bank will be marge with Sind Bank.
The bank will continue to provide and improve its technological base and introduce the state-of-
the-art banking products and solutions. It will also further improve its existing e-banking services
to facilitate its customers. After successfully handling the merger related issues the management
is geared to take advantage of its new broader branch network and create new synergies through
consolidation process. The bank is now well placed and has the requisite capacities to
move forward towards realizing its vision and achieving long-term strategic growth. The Bank is
committed to observance and adoption of internationally accepted
best practices of Corporate Governance and intends to further improve its current practics of
Corporate Governance.

10
ORGANIZATIONAL STRUCTURE OF SUMMIT BANK
DAROGAWALA BRANCH

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 PROCEDURE OF NEW ACCOUNT OPEN
The account opening procedure I divide in two part one is Requirement Second is
Implementation. When Summit Bank open the accounts of any customer then there are
followings requirements full filed by customer:-
ID card:-
First bank demand ID of customer and then verify it is expire or not. If the ID is expire then bank
can’t open his account and if the Customer’s ID is valid then bank verify this card is registered
by Nadra with Bio metric machine.
Pay slip/Income Resources certificate:-
Summit Bank check customer pay slip or sources of Income. And there is no limit of income for
account open. Bank verify customer Resources of income by visiting place where customer do
work.
Utility Bill:-
Bank demand the customer’s home bill where he lives now. Bank see his address on this bill.
Utility may be following:
● PTCL’s Bill
● Electricity’s Bill
● Gas’s Bill
● Water’s Bill
NTN NO:-
If any company want to open its account in this bank then bank demand its NTN no.

When customer full filled the requirements then Bank fill the following Documents for Account
open:
● Two Specimen Signatures Card
● Account opening form
● Nadra verification
● KYC (Know your Customer)
● CRP
● CDD (Customer Due Diligence)
● Call Report
● Facta(Foreign Account Tax Compliance Act)

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 ● CRS

PRODUCTS\SERVICES OFFERED BY SUMMIT BANK LIMITED

CURRENT ACCOUNT
Current Account (CA) is a checking (transactional) account based on Qard (Loan); hence
Principal (Deposit) received in the account is guaranteed. The money can be deposited and
withdrawn at will to and from this account with or without notice either by Cheque / ATM /
Debit Card / electronic means (Net banking etc.) or through written instructions.
Salient Features:
Current Account (CA) is a checking account which aims to provide necessary tools to
Individuals and corporate customers to transact their entire bank related business and personal
activities. Funds received are on the basis of Qard (Loan) hence are guaranteed.
● Account can be opened with PKR 1,000/-
● No limit on number of transactions
● Minimum Balance requirement is PKR 1,000/-
● ATM / VISA Debit Card facility
● SMS Alerts facility
● Free E-statement facility
● Free 1st Cheque Book
● Net Banking facility
Who Can Participate?
Account may be opened in the name of persons and bodies mentioned below upon being
properly introduced in a manner prescribed by the Bank (provided that their source of income is
not received from any prohibited source as per the Shariah principles):
● Individuals
● Sole Proprietorship concerns
● Partnership Firms
● Limited Companies (Private & Public)
● Clubs, Societies and Association
● Foreign Missions / Diplomats
● Agents Accounts
● Trust
● NGO / NPO’S / Charities

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 ● Branch Office / Liaison Office of Foreign Companies
● Executors and Administrators
● Government / Provincial / Local Government and Armed Forces (Including Allied
Accounts)

ASAAN ACCOUNT
Summit Asaan Account makes banking easy and accessible for everyone. All you need is just
your CNIC to start availing the benefits of Asaan Current or Asaan Savings Account with its
unique features with convenience.
Summit Asaan Account is designed for people from all walks of life, specifically for people who
have not yet experience the world of hassle free banking.
FEATURES & SERVICES
Option To Open Current Or Savings Account.
● Only Rs.100/- to open an account.
● Minimum documentation.
● No Minimum Balance Requirement.
● Free Visa Debit Card.
● First Free Cheque Book (available on customer request).
● 4% P.a. expected returns on Asaan Savings Account (Monthly Payment). **
● Free SMS Alerts.*
● Free Internet Banking.
● Free Online Banking
● Option to avail Young Bee Debit Card, Dolmen Loyalty Card and Visa Prepaid Card.
TERMS & CONDITIONS
● Only one account per CNIC (either single or joint) can be opened.
● Available in local currency only.
● Funds cannot be transmitted abroad.
● All Applicable Withholding Tax will be applicable.
● Total Debit Per Month – Rs.500,000/-
● Total Credit Balance Limit- Rs.500,000/-.
● Zakat will be applicable on Summit Asaan Savings Account Only. (CZ50 is required in
case of exemption).
● Only Individuals can open these accounts in Pak Rupee as single or Joint Accounts.

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 ● Account may be converted into regular account subject to completion of CDD as per
Bank’s AML KYC Policy and Procedures upon receipt of customer’s request.
*Terms & Conditions apply.

BUSINESS ACCOUNT
Businesses tend to enjoy flexibility while remaining cost effective. Business Account (BA)
offers flexibility of a conventional current account including unlimited transactions option and
offers value added services in a Shariah complaint manner. Additionally customers are entitled to
a share of distributed profit as per assigned weightages.
● Business Account (BA) will be opened in Pakistani Rupees.
● The account can be opened with PKR 1,000/-.
● The profit payable will be calculated on daily average balance and payment of profit will
be on monthly basis.
● The share of profit in this account type will be minimal keeping in view that its main
purpose is to provide low cost banking to the depositor under exemption allowed by SBP
(IBD Circular No 3 of 2012).
● Zakat & other levies will be applicable as per governing laws
● BA holder will be eligible for 100% waiver of Schedule of Charges for the following
services
● No limit on number of Transactions
● Online Transaction Facility
● Visa Debit Card Issuance
● Cheque Book Issuance
● Issuance of Pay Order
● Cancellation of Pay Order
● SMS Alerts
● Duplicate Pay Order Issuance
● Duplicate Account Statement
● Services listed above will be offered on the basis of maintaining a daily average balance
of at least Rupees Twenty Five Thousand only (Rs 25,000/-). Number of free transactions
allowed will be determined by the bank from time to time, and on case to case basis, and
will be timely communicated to the account holder.
Contract & Mechanism:
BA will be accepted on the basis of Mudarabah (form of partnership). The Bank will be the
Mudarib and the Investment Account Holders (IAHs) / Depositors will provide funds for
investment to earn Halal profit / benefit, identified as Rab-ul-Maal. The funds so deposited will

15
be invested in an Investment Pool which will be managed by the Bank in capacity as Mudarib
(Managing Partner).
The IAH is eligible to share Profit from the respective investment pool according to his / her
deposit in a predetermined ratio adjusted by weightages assigned to each category of
remunerative deposits. This is calculated on calendar month basis. The Profit or Loss declared by
the Bank, as stipulated herein, shall be considered as final and binding on all the account holders.
The Bank in this capacity as Mudarib will also be entitled to a share of the distributable profit.
The Bank may also choose to invest its own Funds. In this case the Bank will share profit in
addition to its share as Mudarib. Accordingly, in case of loss in the respective pool, it (Loss) will
be shared between the IAHs and the Bank as per ratio of their investments in that pool.
Who Can Participate?
Account may be opened in the name of persons and bodies mentioned below upon being
properly introduced in a manner approved by the Bank (provided that their source of income is
not received from any prohibited source as per the Shariah principles):
● Individuals
● Sole Proprietorship concerns
● Partnership Firms
● Limited Companies (Private & Public)
● Trust
Value Added Services.
● Outward Clearing Charges for Cheques returned unpaid.
● Internet Banking Facility.
● E-Statement of Accounts.
Terms & Conditions apply

DAILY SAVINGS ACCOUNT

Daily Savings Account (DSA) is an investment & transactional account. The product is designed
for those customers who have high day-end balances on a particular day while low on others and
wish to get rewarded for their high days. The money can be deposited and withdrawn at will with
or without notice.
 

Salient Features:
● Daily Savings Account (DSA) will be opened in Pakistani Rupees.
● The account can be opened with PKR 1,000/-.
● Minimum Balance requirement is PKR 1,000/-.

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 ● Profit will be calculated on day-end balances (Daily Product basis) and payment will be
made on monthly basis.
● Zakat & other Levies will be applicable as per governing laws.
 

Contract & Mechanism:

DSA is an “Investment for profit” account governed under the rules of Mudarabah (A form of
Partnership) with a vision to provide a bouquet of valuable services along with return on the
investment. Profit payout will be made monthly.
DSA will be accepted on the basis of Mudarabah. The Bank will be the Mudarib and the
Investment Account Holders (IAHs) / Depositors will provide funds for investment to earn Halal
profit / benefit, identified as Rab-ul-Maal. The funds so deposited will be invested in an
Investment Pool which will be managed by the Bank in capacity as Mudarib (Managing Partner).
The IAH is eligible to share Profit from the respective investment pool according to his / her
deposit in a predetermined ratio adjusted by weightages assigned to each category of
remunerative deposits. This is calculated on calendar month basis. The Profit or Loss declared by
the Bank, as stipulated herein, shall be considered as final and binding on all the account holders.
The Bank in this capacity as Mudarib will also be entitled to a share of the distributable profit.
The Bank may also choose to invest its own Funds. In this case the Bank will share profit in
addition to its share as Mudarib. Accordingly, in case of loss in the respective pool, it (Loss) will
be shared between the IAHs and the Bank as per ratio of their investments in that pool.
 Who Can Participate?
Account may be opened in the name of persons and bodies mentioned below upon being
properly introduced in a manner prescribed by the Bank (provided that their source of income is
not received from any prohibited source as per the Shariah principles):
● Individuals
● Sole Proprietorship concerns
● Partnership Firms
● Limited Companies (Private & Public)
● Clubs, Societies and Association
● Foreign Missions / Diplomats
● Agents Accounts
● Trust
● NGO / NPO’S / Charities
● Branch Office / Liaison Office of Foreign Companies
● Executors and Administrators
● Government / Provincial / Local Government and Armed Forces (Including Allied
Accounts)

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Here is What You Further Receive for FREE*
● Fund Transfer within Summit Bank Ltd via ATM, Web & Branch Network.
● Issuance of Pay Order.
● Outward Clearing Charges for Cheques returned unpaid.
● Issuance of Islamic Visa Debit Card for 1st Year.
● Internet Banking Facility.
● E-Statement of Accounts.
● Value Added Services.
● Special Value Added Services.
● Loads of Other Services.
 
Terms & Conditions apply

BACHAT SAVINGS ACCOUNT

Bachat Savings Account (BSA) is an investment-cum-transactional account. The money can be
deposited and withdrawn at will with or without notice either by Cheque / ATM / Debit Card /
Electronic means (Net Banking etc.) or through written instructions.
Salient Features:
● Bachat Savings Account (BSA) will be opened in Pakistani Rupees.
● The account can be opened with PKR 1,000/-.
● Minimum Balance requirement is PKR 1,000/-.
● Profit will be calculated on monthly average balance and payment will be Bi-annually.
● Zakat & other Levies will be applicable as per governing laws.
Contract & Mechanism:
BSA is an “investment for profit” account governed under the rules of Mudarabah (A form of
Partnership) with a vision to provide a bouquet of valuable services along with return on the
investment. Profit payout will be made Bi-annually.

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BSA will be accepted on the basis of Mudarabah. The Bank will be the Mudarib and the
Investment Account Holders (IAHs) / Depositors will provide funds for investment to earn Halal
profit / benefit, identified as Rab-ul-Maal. The funds so deposited will be invested in an
Investment Pool which will be managed by the Bank in capacity as Mudarib (Managing Partner).
The IAH is eligible to share Profit from the respective investment pool according to his / her
deposit in a predetermined ratio adjusted by weightages assigned to each category of
remunerative deposits. This is calculated on calendar month basis. The Profit or Loss declared by
the Bank, as stipulated herein, shall be considered as final and binding on all the account holders.
The Bank in this capacity as Mudarib will also be entitled to a share of the distributable profit.
The Bank may also choose to invest its own Funds. In this case the Bank will share profit in
addition to its share as Mudarib. Accordingly, in case of loss in the respective pool, it (Loss) will
be shared between the IAHs and the Bank as per ratio of their investments in that pool.
Who Can Participate?
Account may be opened in the name of persons and bodies mentioned below upon being
properly introduced in a manner prescribed by the Bank (provided that their source of income is
not received from any prohibited source as per the Shariah principles):
● Individuals
● Sole Proprietorship concerns
● Partnership Firms
● Limited Companies (Private & Public)
● Clubs, Societies and Association
● Foreign Missions / Diplomats
● Agents Accounts
● Trust
● NGO / NPO’S / Charities
● Branch Office / Liaison Office of Foreign Companies
● Executors and Administrators
● Government / Provincial / Local Government and Armed Forces (Including Allied
Accounts)
Value Added Services.
● Fund Transfer within Summit Bank Ltd via ATM, Web & Branch Network.
● Issuance of Pay Order
● Outward Clearing Charges for Cheques returned unpaid.
● Issuance of Islamic Visa Debit Card for 1st Year.
● Internet Banking Facility.
● E-Statement of Accounts.

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Terms & Conditions apply

HAMARA FAMILY SAVINGS ACCOUNT

Fostering the existing bond and to better serve your financial needs, Summit Bank offers Hamara
Family Savings Account – a unique Savings Account offering Superior Returns and a host of
Free Services for your entire Family. Now with Hamara Family Savings Account you can watch
your loved ones grow with their savings
Key Features
● Minimum Balance Requirement Rs.5,000
● Attractive Returns
● Additional 1% Bonus*
Value Added Services
● Free Online Banking
● Free Utility Bills payments via ATM, SMS, Internet Banking, Contact Center, Summit
Bank Branches
● Free Pay Order, Demand Draft, Call Deposit Receipt & Rupee Travelers Cheques
issuance
● Free Home Remittance Payments
● Unlimited Free of Cost Transactions (over the counter & Summit Bank ATMs)
● Free Dispatch of Account Statements (on half yearly basis)
● Free Electronic Account Statements
● Free Outward Clearing Cheques (returned)
● Free Fund Transfer within Summit Bank via ATM, Website, and Branch Network
● Free Expired Visa Debit Card Replacement
● Free Personal Accidental Insurance
● Free ATM Cash Withdrawal Insurance
● 24/7 Customer Care
Eligibility
The customer ID of the primary account holder will be the family ID. The Primary account
holder CANNOT be a minor. Minimum 2 and maximum 5 members can be grouped under a
single Family Savings Account
Terms & Conditions apply

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 REMITTANCES
AMANAT CASH
Summit Bank has created its own Home Remittance product called Amanat Cash to cater to and
facilitate instant money remittance by non-resident Pakistanis to their near and dear. This
innovative product allows you to make easy remittance payments and collections throughout
Pakistan through our fast, transparent, reliable and efficient banking services.
Key Features
● Instant transfer of funds to beneficiary Account
● Secure and reliable banking services
Benefits
● Third Party Bank Transfer Service –to any IBFT member bank through instant 1-link
services
● Third Party Bank Transfer Service-through RTGS
Value added Services
● Countrywide over-the-Counter Service with no account limitation.
● Free of cost cash home delivery service at selected cities.

CASH HOME DELIVERY

Service available at following major cities upto the limit of Rs 100,000 (one hundred
thousand only)
To boost remittance transactions through fast, transparent and reliable banking services, Summit
bank has recently launch free of cost Remittance/Cash Home Delivery Service to the
beneficiaries in Pakistan at their door step with complete security and service satisfaction.
Summit bank offers this Service to all our overseas Pakistanis where Amanat Cash Associates
networks are available like Middle East and UK to send their money to their loved one in
Pakistan.
Karachi – Lahore – Islamabad – Rawalpindi – Hyderabad – Quetta – Sukkur – Sialkot –
Gujranwala – Multan – Faisalabad – Peshawar – Muzaffarabad – Abbottabad and Mirpur Azad
Kashmir.

ELECTRONIC SERVICES
INTERNET BANKING
Summit Bank offers a secure, fast and convenient Internet Banking channel with a range of
services. It will change the way you bank today.
Internet Banking ensures that you have convenient access to your account and banking services,
no matter where you are.

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Services offered through Internet Banking:
● Bill Payments
● Credit Card Bill Payments
● Mobile Balance Recharge Facility
● Funds Transfer within Summit Bank
● Inter Bank Fund Transfer
● View and Download Account Statement
● View ATM/VISA Debit Card Transaction Details
● Activate/Deactivate ATM/VISA Debit Cards
● Change ATM/VISA Debit Card PIN
● Manage Spend/Withdrawal Limits for VISA Debit Cards
● View Status & Stop Payment of Cheques
● View Consumer  Loan Details
● Register and Track Complaints
● View Internet Transaction Activity Log

INTER BANK FUNDS TRANSFER

With our IBFT facility, you can easily transfer funds to accounts in 1-Link  member banks using
our ATM or Internet Banking.
Summit Bank IBFT enables you to send and receive funds on a real-time basis to and from any
account holder of 1-Link  member banks.
You can transfer funds instantly from your nearest Summit ATM, Internet Banking and Ufone-
USSD Service

Transfer Funds through ATM

● Insert your ATM/VISA Debit Card
● Enter your PIN
● Select “Funds Transfer” from the Main Menu
● Select “1-Link member bank” from the Funds Transfer Menu
● In the “From Account” option, select your account  for transfer of funds
● Select bank to which funds will be transferred
● Enter the Beneficiary Account Number
● Enter the amount to be transferred

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 ● Verify the Beneficiary Name, Bank and Branch
● Confirm the transaction
 

Transfer Funds through Internet Banking

● Log in to Internet Banking
● Click “Funds Transfer”
● Click “Other Bank Account(s)”
● Select the account you want to transfer funds from, and enter the amount
● Select the bank you want to transfer to
● Choose your transfer option (Beneficiary List Account or Other Account)
● For Other Account, enter the Account Number and click Fetch Title.
● Verify account details and click Submit to complete transfer.
● For Beneficiary List Account, select a beneficiary from the list and click Submit to
complete transfer.
You can transfer funds immediately to any of the following banks*:
● Advans Microfinance Bank Limited
● Al Baraka Bank (Pakistan) Limited
● Allied Bank Limited
● Apna Microfinance Bank Limited
● Askari Bank Limited
● Bank AL Habib Limited
● Bank Alfalah Limited
● BankIslami Pakistan Limited
● The Bank of Punjab
● Citibank N.A Pakistan
● Dubai Islamic Bank Pakistan Limited
● Faysal Bank Limited
● FINCA Microfinance Bank Limited
● First Women Bank Limited
● Habib Bank Limited
● Habib Metropolitan Bank Limited

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 ● ICBC Pakistan
● JS Bank Limited
● Meezan Bank Limited
● MCB Bank Limited
● Mobilink Microfinance Bank Limited
● NIB Bank Limited
● NRSP Microfinance Bank Limited
● Samba Bank Limited
● Silkbank Limited
● Sindh Bank Limited
● Soneri Bank Limited
● Standard Chartered Bank (Pakistan) Limited
● Tameer Microfinance Bank Limited
● U Microfinance Bank Limited
● United Bank Limited

MOBILE BALANCE RECHARGE

Anywhere, anytime, every network! Summit Bank’s Mobile Balance Recharge service, the first
of its kind, is the easiest and quickest way of recharging your own and your friends’ and family’s
mobile airtime.
How to Use
Go to your write message option and type:
<mr> space <short code of the mobile network> space <amount>
And send SMS to 24365
For example, if you are a Mobilink subscriber, to recharge an amount of Rs. 100,  type:
mr mk 100
And send SMS to 24365
Customers who are already subscribed for SMS alerts are automatically eligible for this service.
You can avail Mobile Recharge services for the following companies:

Mobile Company Short Code Available Denominations

Mobilink mk 100, 300, 600, 1000

Ufone ue 100, 250, 500, 1000

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 Warid wd 100, 300, 600, 1000

Zong zg 100, 300, 500, 1000

Telenor tr 100, 250, 500, 1000

Vfone ve 100, 300, 1000

PTCL pl 100, 250, 500, 1000

Wateen wn 50, 100, 250, 500, 1000, 1500,

2000

Terms & conditions apply.

MOBILE BANKING
In keeping up with rapidly changing technology, Summit Bank offers you banking through your
mobile. You can easily keep track of all your account transactions through your mobile phone,
and retrieve account information whenever you want, just by typing and sending a simple SMS.

Transaction Alerts
Now wherever you go, your bank goes with you. Summit Bank gives you the following
transaction alerts on your mobile:
● Day End Balance
● All Transactions (Debit & Credit)
You can also check your transactions and account balance. Customers who are already
subscribed for SMS alerts are automatically eligible for this service.
Just go to your write message option and type:
BI for Balance Inquiry
MS for Mini Statement
LTC for Last Three Credit transactions
LTD for Last Three Debit transactions

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 BILL PAYMENTS
Summit Bank Bill Payments is an electronic bill payment service for your convenience. So you
can pay your utility bills free of cost in a smart and hassle-free manner!
You can pay your bills via SMS, Internet Banking, at any Summit Bank ATM, or by calling our
Contact Center at 0800-24365.

● Internet Banking
You can pay your bills anytime by logging in to Internet Banking.
● ATM
Pay utility bills with your ATM/VISA Debit Card at any Summit Bank ATM.

● Contact Centre
Call our 24/7 Contact Centre 0800-24365 to pay your bills.
Bills of following companies can be paid:

S.NO Category Merchants

1 Electricity FESCO, GEPCO, HESCO, IESCO, KESC, LESCO, MEPCO,

PESCO, QESCO, SEPCO

2 Mobile & Ufone, Mobilink, Warid, Telenor, Zong, PTCL, EVOPOSTPAID,

Telephone EVOPREPAID, PTCLDEFAULTER, VFONE, Wateen, Witribe

3 Gas, Water & SNGPL, SSGC, BWASA, FWASA, KWSB, LWASA, MWASA,
Sewerage RAWSA, KMC

4 Online Shopping Daraz.pk

5 University LUMS (Lahore University of Management & Science)

6 Mutual Funds Askari Investments

7 Insurance Jubilee, EFU

8 Taxes Sindh Board Revenue (SRB)

Terms & conditions apply.

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 CONSUMER BANKING
PERSONAL LOAN
We live in a world of uncertainties where you never know when you’ll need to meet unforeseen
expenses, but being a Summit Bank Customer you can be certain of us being there for you.
Whether these expenses are for your daughter’s wedding, outstanding payments, major surgical
operation or just about anything else.
With Summit Banks personal finance loan solutions, you now have the peace of mind to meet
these expenses “RIGHT ON TIME, WHEN YOU NEED THEM”. With simple yet transparent
terms, your expenses are now covered, with an innovative, convenient and secure personal
finance solution from Summit Bank.
The salient features of this plan are as follows:

Loan Amount Minimum: Rs.25,000/-

Maximum: Rs.1,000,000/-

Loan Tenor Minimum: 1 year

Maximum: 5 years

Mark-up Type Fixed

Loan Enhancement Facility Available

Early Settlement Facility Available

Note: Subject to other prevailing terms &amp; conditions

 
Benefits:
● Quick Processing
● No Processing Fees before approval
● Minimum Documentation
● Competitive Rates
● Complimentary Credit Life Insurance
 
Requirements:
● Pakistani Resident & CNIC holder
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 ● Age between 21yrs to 65yrs
● Minimum net Income PKR 15,000/-
● Salaried individual only

AUTO LOAN
Features
Loan Amount Minimum: Rs.300,000/-Maximum: Rs.6,000,000/-

Loan Tenure Minimum:1 Yr – Maximum:5 Yrs.

Mark-up Rate Salaried: Six Months KIBOR + 400bps

Self Employed Professional: Six Months KIBOR +
450bps
Self Employed Businessman: Six Months KIBOR +
500bps 
*Mark-up rate to be revised on Six Monthly Basis

Down Payment (Equity) Minimum 15% of Vehicle Value

Vehicle Type Passenger Vehicle

Insurance Vehicle Insurance will be mandatory from Bank’s

authorized
Insurance Company

Early Settlement Facility Available

Note: Subject to other prevailing terms & conditions

 
Benefits
 
● Quick &amp; Hassle Free Processing
● No Processing Fees before approval

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 ● Choose any type of Car – Local (New &amp; Used) &amp; Imported (Registered &amp;
Un-Registered)
● Insurance through reputable Insurance Company at lowest rate

SUMMIT GOLD LOAN

Summit Gold Loan is a secured running finance /personal loan facility designed to cater to the
emergency funding needs of individuals.
Features:
Loan Amount Minimum: Rs.50,000/-Maximum: Rs.2,000,000/-

Loan Tenor 1 Yr

Mark-up Rate 3 Months KIBOR + 500bps or Minimum 15%

 
*Mark-up rate to be revised on Quarterly Basis

Loan Limit against Gold Upto 60% of Gold Value

Loan Type Running Finance / Term Finance

Insurance Insurance of Gold will be mandatory from Bank’s

authorized
Insurance Company

Loan Enhancement Facility Available

Early Settlement Facility  Available

Note: Subject to other prevailing terms &amp; conditions

 
Benefits:
● Quick Processing
● Minimum Documentation
● Competitive Rates
 

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Requirements:

● Account will be opened in accordance with documentary requirements laid down in the
SOP of “Account opening and management”
● Must be a resident Pakistani
● No minimum income required
● 2 passport size photograph of applicant
● 1 passport size photograph of Nominee
● 2 References
● Quality of Gold Not less than 18 Karat

AUTO SHIELD
Company Profile
The United Insurance Company of Pakistan Limited (UIC) was established in the year 1959 on
the Twentieth day of October. It was operational in Pakistan including East Pakistan (now
Bangladesh). UIC is operating with more than 100 branches across Pakistan. UIC is doing
general business including Motor Insurance, Group Health Insurance, Travel Insurance (Health),
Travel Bonds & Guarantees, Livestock and Crop Insurance. It is a public limited company listed
in Pakistan Stock Exchange Limited and is presently one of the leading quoted insurance
companies of Pakistan with its A+ rating from PACRA.
For the first time ever Summit Bank introduces AUTO SHIELD, a convenient way to access
auto insurance with innovative payment method via monthly installments. It provides security to
consumer through its comprehensive auto coverage including accident & collision damages, theft
and snatching. This product enables consumer to ensure both new and used vehicle in the most
hassle-free manner.

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 FEATURES
Policy Term 1 Year

Premium Rate 2.9% (without tracker) & 3.9% (with tracker) on

value of vehicle

Premium Payment Method Direct debit from SMBL account on monthly basis

Age of Vehicle Up to 10 years old

Value Added Services Free towing to the nearest workshop

Get your car repaired from the workshop of your
own choice
Insurance company / surveyor will help in getting
the final police investigation report
No hidden taxes & charges

Grace Period on monthly premium payment 15 days

Tracker Device Optional

Free Look Period 14 days

The product is underwritten by The United Insurance Company of Pakistan limited (UIC), It is
not guaranteed or insured by Summit Bank

HOME FINANCE
Buying your first home is a major milestone in your life and one of the biggest financial
decisions you will ever make. Helpful information combined with the right advice can make a
world of difference and assist you in making the ultimate decision.
Summit Bank has a comprehensive range of home loan schemes with solutions for everyone.
The value and flexibility that Summit Bank Home Finance offers, complemented by
exceptionally personalized service, is what makes it the right choice for you. At Summit Bank,
we believe in simplicity & convenience.
Summit Bank Home Finance can be sought to fulfill any of the following needs:

● Buy-a-Home

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 ● Build-a-Home
● Home Renovation
● Purchase of Land & Construction
● Home Debt Consolidation (Balance Transfer Facility)
Features
Loan Amount Minimum: Rs.300,000/-
Maximum: Rs.100,000,000/-

Loan Tenor Minimum:1 Yr

Maximum:20 Yrs

Mark-up Rate Salaried: Six Months KIBOR + 400bps

Self Employed Professional: Six Months KIBOR +
450bps
Self Employed Businessman: Six Months KIBOR +
500bps
 
*Mark-up rate to be revised on Six Monthly Basis

Down Payment (Equity) Minimum 15% of Property Value

Type of Mortgage Equitable Plus Token / 100% Registered Mortgage

 
*as per Lawyer’s advise

Insurance Life &amp; Property Insurance will be

mandatory from Bank’s
authorized Insurance Company

Balloon Payment Facility Available

Early Settlement Facility  Available

Note: Subject to other prevailing terms &amp; conditions

 

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Benefits
 

● Quick &amp; Hassle Free Processing

● Minimum Documentation
● Competitive Rates
 
Requirements
 

● Salaried: Age Limit 23 – 60 years

● Self Employed Professional: Age Limit 23 – 65 years
● Self Employed Businessman: Age Limit 23 – 65 years
● Additional documentation

CONCLUSION
● The is lowest branch network of Summit Bank Ltd
● Schemes are not properly advertised so that the target market does not know about
facilities offered by it.

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 SUGGESION
● New branches should be open in Pakistan for the purpose to serve maximum number of
customer.
● Summit Bank should advertise his bank and his products like accounts facilities and new
schemes.
● Summit Bank should be update his computer software because sometimes software
doesn’t properly work.

REFERENCES
● Annual report of summit Bank ltd, 2016
● Product brochures
● Darogawala Branch Lahore

WEBSITES
www.summitbank.com.pk

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