Annex-a

Internship Report

Askari Bank Ltd.,

NOOR Mahal Road Branch,

Bahawalpur

Session 2018-2022(spring)

Submitted by:

Ahsan Tufail

Roll. No. SP18M3BA008

BBA-Hons (Finance)

Submission date: 23-02-2022

Institute of Business, Management and Administrative Sciences

The Islamia University of Bahawalpur

 Annex-b

Letter of Undertaking

I AHSAN TUFAIL, registration No SP18M3BA008 program (BBA Hons) have completed

an internship report of 12 weeks at Askari Bank Ltd from 6th September 2021 to 7th
December 2021. I acknowledge that the data and information produced in this report are
with the due consent of the organization and I have followed the IUB and HEC plagiarism
policy.

Signed by (Student):

__________________________

Name: Ahsan Tufail

Roll Number/Reg. No.: SP18M3BA008

Class & Session: BBA (2018-22 Spring)

Internship letter
 Annex-c

Approval Form

Internship Report

Askari Bank Ltd.,

Noor Mahal Road branch,

Bahawalpur

Incharge Internship
Signature: ______________________________
Name: ______________________________

Designation: ______________________________
External Examiner:
Signature: ______________________________
Name: ______________________________

Designation: ______________________________
In-charge Examination
Signature: ______________________________
Name: ______________________________

Designation: ______________________________
Decision
Pass: ______________________________
Fail: ______________________________
Comments if any: ______________________________
 DEDICATED TO

My loving Parents a minaret of love,

Affection and kindness, who enlightened me
a learning spirit by which I am learning much,
from her lap till now
 ACKNOWLEDGMENT

All praises, knowledge and words are bounded to gratitude the glory of Allah, the only
Omnipotent, most compassionate and merciful and The Lord of All beings that exist, Who’s
the authority, power and absolute source of entire knowledge and comprehension that
endowed to mankind. First and foremost, I would like to thank ALLAH THE ALMIGHTY
for giving me the strength, knowledge, ability, wisdom and opportunity to undertake this
research study and to persevere and complete it satisfactorily. Without His blessings, this
achievement would not have been possible.

A special prayer to PROPHET MUHAMMAD (PEACE BE UPON HIM) from the deepest
core of my heart, the last messenger of ALLAH is the best creation, a role model on how to
be of the exemplary character of love, compassion, wisdom, kindness, mercy and forever a
source of guidance and knowledge to the whole mankind.

I’m very grateful to Mr. Faisal Masud Khan (Branch Manager), Mr. Umar Javed (General
Banking Officer) , & Mr. Noman Nazir, under their distinctive supervision, positive attitude,
keen interest, devotion, and admiration my course work. I am heartily thankful to them for
their dynamic efforts, inexhaustible patience and fruitful suggestions throughout the course
of work.

I intimate my deep sense of gratitude and appreciation to my family, particularly to my mother

whose prayers, love, affection and association play a morally distinguish contribution to
complete my efforts.

Ahsan Tufail
 Executive Summary
Askari Bank came to Pakistan and gave the banking sector a new horizon, today Askari Bank

has set a firm foot in the industry.

I did a 12 weeks internship at Askari Bank Limited Bahawalpur branch located on Noor

Mahal Road As a compulsory requirement for students enrolled at The Islamia University

of Bahawalpur; I completed my 12 weeks internship at the above-mentioned organization.

The purpose of this internship is to enable students who are about to pass out from the

institute to get a taste of practical life, of how life would be and how we would handle the

challenges it throws at us once we walk out from these gates. Those six weeks were a

wonderful experience full of learning and understanding and putting the knowledge we

learned into perspective. This report sheds light on what was learned during that time during

my internship at Askari Bank Limited. This report starts with an introduction and from

thereon follows the pattern that was kindly provided to us by our honorable institute covering

the objectives, the operational details and lastly, what I learned as an internee at Askari

Bank Limited. Established in 1991 it began its operations in 1992 and offers a wide

portfolio of services while maintaining a close link with the Armed forces of Pakistan as it

is currently owned by the Fauji Foundation and was previously owned by the Army Welfare

Trust. As an internee, I got to work in four important sections of the bank namely deposits,

bills, and remittances, accounts and credit. A thorough briefing followed by a vigorous

routine are the characteristics of a banking job and my internship was no different where we

were given large loads of work while keeping us motivated with learning throughout the

course of our internship. My report is based on my learning experiences at Askari Bank

Limited and how this experience has boosted professionalism and understanding in me.

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 TABLE OF CONTENTS

Letter of Undertaking .................................................................................................................... 2

Internship letter .............................................................................................................................. 3
DEDICATED TO .......................................................................................................................... 5
ACKNOWLEDGMENT ............................................................................................................... 6
Executive Summary ....................................................................................................................... 7
1. Overview of the organization ................................................................................................ 10
1.1 Brief History .................................................................................................................... 10
1.2 Introduction...................................................................................................................... 10
1.3 Vision ................................................................................................................................. 11
1.4 Mission .............................................................................................................................. 11
1.5 Policy of Askari bank ........................................................................................................ 11
1.6 Competitors........................................................................................................................ 11
2. Organizational Structure .................................................................................................. 13
2.1 Organizational hierarchy chart........................................................................................... 13
2.1.1 Board of directors ....................................................................................................... 13
2.1.2 Organizational Hierarchy ............................................................................................ 14
2.1.3 Branch Hierarchy ........................................................................................................ 14
2.2 Number of Employees: ...................................................................................................... 15
2.3 Head Office ........................................................................................................................ 15
2.4 Bank’s departmental functions .......................................................................................... 15
2.4.1 Finance Department .................................................................................................... 15
2.4.2 Marketing Department ................................................................................................ 16
2.4.3 Operations Department ............................................................................................... 16
2.4.4 HR & Greeting Department: ....................................................................................... 16
2.4.1 IT Department ............................................................................................................. 17
3. Plan of Internship Program .................................................................................................. 18
3.1 Introduction of the Branch ................................................................................................. 18
3.2 Starting and ending dates of your internship ..................................................................... 18
3.3 Department in which i got training .................................................................................... 18
3.3.1 Types of accounts ....................................................................................................... 18
2 4. Products and services .................................................................................................... 19
4.1 Branch Banking ................................................................................................................. 19
4.1.1 Askari Mahana Bachat Account: ................................................................................ 19
4.2 Corporate Banking ............................................................................................................. 20
4.3 Consumer Banking ............................................................................................................ 20
4.3.1 ASK 4 CAR ................................................................................................................ 21
4.3.2 Personal Finance ......................................................................................................... 21

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 4.3.3 Mortgage Finance ....................................................................................................... 21
4.3.4 VISA Debit Card ........................................................................................................ 21
4.3.5 Askari Credit Cards ........................................................................................................ 21
4.4 Islamic Banking ................................................................................................................. 22
4.4.1 Deduction of Zakat ..................................................................................................... 22
4.5 Lockers .............................................................................................................................. 22
4.5.1 Operations of locker ................................................................................................... 22
4.5.2 Guidelines to minimize improper access .................................................................... 22
4.5.3 Licensing of lockers .................................................................................................... 23
4.5.4 Rent Key Deposits ...................................................................................................... 23
4.6 Remittances........................................................................................................................ 24
5. Training Program .................................................................................................................. 25
5.1 Reflective journal entries ................................................................................................... 26
6. SWOT analysis ....................................................................................................................... 28
6.1 Strengths ............................................................................................................................ 28
6.2 Weaknesses ........................................................................................................................ 29
6.3 Opportunities ..................................................................................................................... 29
6.4 Threats ............................................................................................................................... 30
7. Conclusion .............................................................................................................................. 31
8. Recommendation ............................................................................................................... 32
Reference .................................................................................................................................... 33

9
 1. Overview of the organization

1.1 Brief History

Askari Bank was incorporated in Pakistan on October 9, 1991, as a public limited company.
It commenced operation on April 1, 1992, and is principally engaged in the business of
banking, as defined in the Banking Companies Ordinance, 1962. The Bank is listed on
Pakistan Stock Exchange (earlier it was listed on Karachi, Lahore and Islamabad Stock
Exchanges).

Since inception, the bank has concentrated on growth through improving service quality,
investment in technology and people, utilizing its extensive branch network which includes
Islamic and agricultural banking.

Corporate Social Responsibility is an integral part of the way we do business. In order to

fulfill our CSR objectives, we attempt to promote public interest by encouraging community
growth and development through sponsoring social service events, supporting education,
sports and environment, and contributing in socio-cultural activities.

1.2 Introduction
The name bank is derived from a Latin word bancho meaning desk/bench, used during the
renaissance by the Florentine bankers, who used to make transactions above a desk covered
with a green tablecloth. 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 “banking 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”.

10
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 stakeholders, and
contributing to society.

1.3 Vision
To be the Bank of First Choice in the Region
1.4 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 stakeholders, and
contributing to society.
1.5 Policy of Askari bank
Askari Bank Limited focuses its operations on the core values that it terms as
Commitment
Passionate about our customer’s success and delighting them with the quality of our service
Integrity
A distinctive investment, delivering outstanding performance, return and value.
Fairness
Exemplary compliance, governess and business ethics.
Teamwork
Caring for our people and helping them to grow.
Service
Dedication towards social developments and improvements in quality of life.
1.6 Competitors
• Bank Alfalah Limited

• Meezan Bank Limited

• Allied Bank Limited

• Habib Bank Limited

• MCB Bank Limited

11
• United Bank Limited

• Bank Al Habib Limited

• Bank Islami Pakistan Limited

12
 2. Organizational Structure

2.1 Organizational hierarchy chart

An organizational structure is the structure of any organization and tells a lot about that
organization and gives all the stakeholders important information about the degree of
decentralization in the organization as well as who does what in any organization. Askari
Bank is divided in terms of the groups or divisions present in it and then further division is
done on the basis of the specific department while in reality, a matrix-like system exists in
which different departments and bodies come together to perform all the banking operations.
This can be further elaborated with the help of the organogram illustrated below:
2.1.1 Board of directors
Mr. Waqar Ahmed Malik Chairman

Lt Gen Tariq Khan (R) Director

Mr. Sarfaraz Ahmed Rehman Director

Dr. Nadeem Inayat Director

Syed Bakhtiyar Kazmi Director

Mr. Manzoor Ahmed Director

Mr. Mushtaq Malik Director

Ms. Zoya Mohsin Nathani Director

Raja Muhammad Abbas Director

Mr. Mohammad Aftab Manzoor Director

Mr. Atif Riaz Bokhari President & CEO

13
2.1.2 Organizational Hierarchy

Branch Manager
(Faisal Masud Khan)

2.1.3 Branch Hierarchy

Operation Manger
(Abid Khan)

Supervisor Branch Services Operations Staff CPC Unit Sale Staf

14
2.2 Number of Employees:
There are about 7,949 employees in Askari Bank LTD.
2.3 Head Office
The head office is located in Islamabad. 537 branches in Pakistan (including 95 Islamic
branches)
2.4 Bank’s departmental functions
⚫ Finance department
⚫ Marketing department

⚫ Customer services department

⚫ IT department

⚫ Operations department

⚫ Hr department

2.4.1 Finance Department

Finance is the major driving force behind an organization, whatever the business is, it may
miss out on any other department which will have an effect but if it misses out on 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 person. If the firm doesn’t know it expenses, it won’t
know its surplusincomes 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 the accomplishment of business objectives, implementation ofstrategies, and to enforce a
sound control environment of harmonizing profitability with governance goals.

It is one of the support departments of all the divisions of the bank. This department is
responsible for the following functions.

• Preparation of financial budget for the annual operation of the bank.

• Recording of transactions pertaining to the annually operations of thebank.

• Calculating and comparing the variances in the actual results with thebudgeted amounts

• Reconciliation of various accounting records with the records for theexternal entities.

15
2.4.2 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 creditcards, like special discount on purchase from credit card.

2.4.3 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;

• Embossing Department

• Mailing Department

• Recovery Department

• Collection Department

• Authorization

• Designing Department

• Human Resource & Greeting Department

• IT department

2.4.4 HR & Greeting Department:

The human resource department has a check on the entire system and makes sure that the
employees are performing their best. Someactivities performed by HR department are:

• Hiring new employees.

• Contract Renewals.

• Performance Appraisals

• Bonuses Decisions

• Leaves

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 • Greeting employees are there to greet walk in customers and guide them.

• Increment in salaries

• also responsible for the inventory care-taking for the bank

2.4.1 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 thatis 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 backbone of the company.

17
 3. Plan of Internship Program

3.1 Introduction of the Branch

I have done my internship at Askari Bank Ltd. Noor mahal branch which the main branch of
the division consisting of almost 28 employees working in the branch. Main branch consists
of area heads and the basic branch officers. I have worked under the supervision of branch
manager and other senior officers for 3 months. They enhanced my communication skills,
nonverbal communication skills and gesture throughout my tenure. In the first month, i got
knowledge of different of different operations happening in the office. The 2nd and 3rd month
was all about the working of DHA Balloting 2021 on the portal of Askari Bank Noor mahal
road branch Bahawalpur.

3.2 Starting and ending dates of your internship

I started my internship on 6th of Sept 2021 and ended on 7th of December 2021.

3.3 Department in which i got training

⚫ Operations department

⚫ Accounts opening department

⚫ Remittance department

⚫ Credit card sales department

⚫ Financing product department

3.3.1 Types of accounts

➢ Individual account
➢ Corporate account
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

• National identity card or Passport
• Specimen signature card

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 1 4. Products and services

Being a bank by the definition of the Corporate Law of Pakistan and being registered under
that same law, Askari Bank offers a very wide and competitive variety of services to its
thousands of customers all across Pakistan and were the pioneer in the field of Internet
banking and providing e-solutions to B2B customers facilitating the purchase of merchandise
on credit terms for them.

here are some basic divisions in the bank according to the services that are offered which
include:
4.1 Branch Banking
In branch banking there are a number of accounts which are offered to the general public and
the employees of Armed forces and then the choice is made on the basis of the customer’s
individual needs. The accounts that are offered are categorized as:

4.1.1 Askari Mahana Bachat Account:

This particular type of account is offered to the individual looking for a short-term investment
account. It offers investment options from 1 to 3 years and is particularly aimed at customers
who want monthly profit from their savings. It is a term deposit account in which the money
has to be placed for a certain period of time and is offered only to Pakistani citizens. The
balance requirements of this particular type of account range from a minimum of Rs.50, 000
and can go as far as up to Rs.10, 000, 000. The payments are made at the 1stof every month
and the profit rates are 7.6% per annum for 1 year term investments and up to 8.5% per annum
o 3-year term investments. Askari Paishgi Munafa Term Deposit: This unique type of account
is there to cater to the investment needs of individuals who need profits right away on their
medium-term investments and in doing so the customer receives the entire profit of their
investment straight away at the time of placement. This account too is made strictly for
Pakistani nationals. It requires a minimum deposit of Rs.100, 000 or in multiples of 1 million
for a tenure of 15 months and the return rate on this account is 7.5% per annum while this
type of account offers the additional advantages of free VISA Debit card and no maximum
limit for investment.

➢ Value Plus Current Account:

This particular account is a current account which although does not offer any monetary
return but offers a number of other useful options for both an individual investor as well as
small businesses or corporations for that matter. Some of the salient features of type of

19
account for an individual investor are free issuance of ATM/VISA Debit card and very
reliable insurance coverage for all types of cards plus the additional facility of On-line fund
transfer facility, i-Net banking facility, duplicate account statements and issuance of cheque
books meanwhile the individual has to ensure a minimum balance of Rs.25, 000 at all times.
The same type of account also offers various advantages to businesses as well in
the form of several free facilities such as on-line fund transfer facility, issuance of cheque
books, issuance of pay orders / demand drafts and a 24/7 access to account statement through
internet banking with duplicate account statements available whenever required.
The minimum level of balance for businesses is Rs.100, 000.

➢ Value Plus Saving Account:

This is an account for people who want medium return rates on their investment along with
other services which are included as free in the package. It offers 6% per annum with profit
options for either three or six months or one year. Other services that are provided as free
with this account are free issuance of ATM/VISA Debit Card, free global and local ATM
Cash with drawl insurance while other free services include online funds transfer
facility and internet banking services.

4.2 Corporate Banking

In the corporate banking sector of Askari Bank Limited, the services offered are by the
corporate banking division and by the Investment banking division. Corporate Banking
Division: Corporate banking facilities are offered through three focused branches in
Islamabad, Karachi and Lahore and are primarily present to cater to the needs of
large corporate customers. These divisions provide highly trained and experienced
individuals that not only look after the needs of corporate individuals but are also constantly
abreast with the latest developments in the market and the complete economy. A wide variety
of services are offered to the corporate customers which range from working capital facilities,
term loans, letters of guarantee and credit, bill discounting and export financing etc.

4.3 Consumer Banking

This division mainly focuses on the auto finance, personal finance, mortgage
finance, smart cards, Askari credit cards and Zarai credit cards etc. Consumer banking
market is rapidly growing in Pakistan and Askari Bank Limited is targeting
the market with an aim to capture as much of it as possible while offering new
and innovative services all the time and all of this is done while keeping a
close eye on the risk asset portfolio. The products offered under this division are:
20
4.3.1 ASK 4 CAR
This financing can be used to finance both new and used cars with an 13.5% for civilians and
12.5% markup for Armed persons. Customer has to pay monthly installments. Insurance is
mandatory.

4.3.2 Personal Finance

These financing options are only available to Pakistani residents at the
moment and the person applying for the loan must be at least 21 years of age and a maximum
of 60 years of age with a minimum monthly salary of Rs.30, 000 with their employment
having at least a tenure of 1 year remaining.

4.3.3 Mortgage Finance

A home of one’s self is a dream of any individual and Askari Bank has made the realization
of this dream very easy with rather flexible home loans available for individuals in urban
areas of Pakistan aged between 23-60 years of age. The bank helps in the purchase and
construction of the house as well as renovation of old houses with balance transfer facility
also available. Houses plus apartments are covered under this particular type of financing.

4.3.4 VISA Debit Card

Any individual having an account with Askari Bank Limited can have access to an Askari
VISA Debit Card which eliminates the risk of carrying large sums of money while traveling
or shopping at busy places because payments can be done via the card thus eliminating the
need for carrying cash and cash with drawls can also be made at ATM’s with this type of card
with a limit of Rs.50, 000 on the classic card and Rs.100, 000 on the gold card and besides
that the shopping limit on the classic card is Rs.200, 000 while it is Rs.250, 000 on the gold
card and the funds transfer limit of the classic card is Rs.250, 000 and Rs.300, 000 on the
gold card

4.3.5 Askari Credit Cards

Credit cards are issued to Pakistani residents only and to get one of these the resident must
be a salaried individual with or a supplementary income person with the minimum age limit
being 21-61 for the basic card upper limit changed to 65 for SEP/SEB while the age limit on
supplementary has a minimum of 18 and no upper limit. After this the rates and the limits
change in response to the collateral placed and a card is provided only after complete and
thorough examination of all the documents provided.

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4.4 Islamic Banking
Askari Bank is striving hard to satisfy customer needs in regard to Islamic practices and
needs. The efforts in this regard are put into practice a completely
efficient banking system that not only meets the economic justice but also the Sharia
standards. There are currently 95 branches in major cities in Pakistan that provide only
Islamic banking solutions.

4.4.1 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.

4.5 Lockers
4.5.1 Operations of locker

• Locker operations are controlled by contract, which contains the rulesand conditions
which govern the vault operations.

• So, contract is the basic document that set out the relationship between banker and a
customer.

4.5.2 Guidelines to minimize improper access

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 several joint licensees until legal requirements
have been properly fulfilled

• Never allow excess if served with an attachment order or other restraining orders without
first consulting the legal department

• Customer’s keys should never be in the possession of the custodian of the vault

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4.5.3 Licensing of lockers

• 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 “locker chart” and mark locker number soallotted in pencil on
the chart

• Demonstrate operation of the locker to the licensee

• Keys of the un-rented lockers and those surrendered by the licenseesmust be kept in
the safe under dual control of the officers

4.5.4 Rent Key Deposits

• Initial recovery of rent & key deposit must be recorded on application form

• Recovery of charges are to be balanced on monthly basis and record ofeach licensee of
lockers is to be maintained in locker issue register

• Record of key deposits and their subsequent refunds is to be made in the locker issue
register

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

• In case rent is not deposited within 7 days from the date it becomesdue the licensee
be requested to deposit the rent, subsequent remindersbe sent on monthly basis and if
after 4 reminders the rent is notreceived 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.

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4.6 Remittances
“Transfer of funds from one place to another”.

• Demand draft (intercity)

• Mail transfer (inter/intra city)

• Real-time gross settlement (intercity)

• Pay order (intercity)

• Online transfer of funds (inter/intra city)

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 5. Training Program

My internship started in the accounts department where I learned about the work related to
the accounts section which is primarily doing the work of checking all the financial activity
going on in the bank and it is done on both the customers and the bank’s expenditure level.
The daily activity that happens on one day is matched to the reports generated by the bank’s
central information system on the other day and proof of the transactions in the shape of
cheques, deposit drafts or online vouchers are checked for the information that is provided in
the report and then if cleared they are saved to be inspected by all the auditors and in case
there is a problem and some record is missing, the bank staff goes to tremendous lengths to
recover the missing articles and then move the reports because besides affecting their personal
performance it also has a bad effect on the bank’s and the branch’s overall performance in
the shape of an objection from the audit team. After that I did some work with the credit
department which is basically related to processing all the credit-related work of the bank.
They work on the credit process from the start to the eventual end of any credit process and
even though they work in the same building they have their own separate team which has
nothing to do whatsoever with the normal working staff and they work with their selected
employees only. When a person applies for credit at Askari Bank Limited, the entire credit
process starts in which complete inspection of documents in done and then only are the loans
allowed to proceed with prior approval from the area head. Credit departments also deal with
issuing foreign guarantees in the form of Letters of Credit which is basically a guarantee to a
foreign bank for local account holders in the matters of purchase of merchandise which may
range from chemicals to refurbished cars.
The third and perhaps the most vital department of any bank is the deposits department which
works at the branch level and this particular department is
responsible for the trading of funds and maintaining different accounts. The deposit
department is where the accounts are opened, clients are served, and are provided with basic
information about banking that ranges from simple information
like opening an account to investing in the various investment opportunities that a bank
provides.
The last department where I worked was the bills and remittances department which is
assigned with the task of handling interbank and intercity transactions. Intercity transactions
in a bank are done with the help of an online statement which is used for on-net transactions
as each bank branch in Pakistan has a unique code so if money is to be sent to any branch,

25
then it is sent to that particular branch via the central management system which in Askari
Bank is known as Flex Cube.
In case of inter-bank transactions, the money is transferred with the help of cheques which
are sorted out by the various sorting houses State Bank has opened in different cities of
Pakistan to facilitate and quicken this process.
These collect all inter-bank transaction items from different banks and supply them to the
desired destination. From my observation of the staff that was working at Askari Bank, I
concluded that the staff working there was highly motivated and trained in their jobs and had
the capacity to manage nearly every contingency that arose during the tenure of my internship.
Proper testing and standards are used at the time of hiring and courtesy to those the workforce
that results is a skilled and motivated one and the rather high remuneration policy of the bank
also ensures that the staff stays motivated not letting loose at any moment.
Secondly, the managers take a keen interest in even the slightest details of the activities going
around in the bank and visit everybody on a nearly daily basis and inquire them about their
work which I believe insures quality and motivation.
5.1 Reflective journal entries

WEEKS DESCRIPTION

In the first week of my internship, I spend my time in the manager’s

office to see how he behaves with the customers and how he teaches
Week 1
the banks employees on their mistakes. Overview of different
departments of Banks.

In the 2nd week, i was guided that how to fill slips of cash deposit and
cheque deposit( AKBL cheque). Marketing and awareness of credit
Week 2 card at different brand outlets in Bahawalpur with sales representative
of AKBL. Allocation of Locker, Operating of Locker, security of
Locker and return process of Locker.

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 In the 3rd and 4rth week. I learned how to fill slips of bankers cheque,
demand draft and payment order. What are the necessary documents
Week and information is required to have a bankers cheque from your
3&4 account. Photocopying of different cheques for record. Cancellation of
BC and DD.Brief knowledge of Stamps , Clearing , account opening
and products of Askari bank.

Arrangement the documents of NIFT, (clearing inward and outward

Week 5
,and NIFT report)filling the incomplete information in the registers.

Market visit with the manager to raise funds in the banks previous
Week 6
account and capturing new customers for opening of new account.

DHA BALLOTING 2021

From week 7th till 18th week , i worked for the processing of DHA
applications in the AKBL. We have to make a MIS of every single
Week 7
application consists of around 14 columns, separating them basis on
till 18
manual and online form. Than marking of online form paid on banks
portal was mine responsibility. During my stay approx 7k applications
was processed by me. That was the hardest period with great pressure.

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 6. SWOT 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;

• Strength

• Weaknesses

• Opportunities

• Threats

6.1 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;

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

• It has a good reward policy of giving bonuses and incentives for itscustomers.

• Askari Bank has flawless Customer services

• The MIS they use in the company is always updated well ahead oftime giving the
bank an upper edge

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

• The card division has strong network facilities nationwide

• AKBL 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.

• The bank has also started ATM facility in most of its branches 24/7.

hour banking is new trend in Pakistan and AKBL has also taken apartin this trend.

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 • 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

• The productivity of the bank is very good. Bank is providing a high

quality service to its customers.

6.2 Weaknesses
• 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

• Its good to have a friendly working environment but there should be a code of conduct.

• Because of the increasing workload the employees a being over burdened

• The inventory management is not up to the mark

• Promotions and transfers from departments is a political issue

• 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

6.3 Opportunities
• Better and convenient services to employees and business class.

• Expansion of their branch network can be very helpful.

• 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.

• Institutionalization of HRM (best person should be posted for best assignment),

depoliticizing the atmosphere.

• Bank can extend its network in other countries.

• It can enhance its profitability by making use of new technology.

• The plastic money business still has a lot of potential to grow so it gives the company
an opportunity to introduce new products andservices.

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6.4 Threats
• Very uncertain economic conditions.

• Actions taken by competitors.

• Political instability.

• Employees turnover rate is too high

• Politics involved in a working atmosphere has never done well forthe company it has
always gone the other way round.

• AKBL has many competitors, which are continuously increasing its products and
marketing aggressively. It may cause its customers to shift to competitors.

• for AKBL, because human resource is the most valuable resource.

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 7. Conclusion

• 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.

• 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.

• 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 organization which offers far better services to its customers than its
rivals will succeed ultimately.

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 8. Recommendation

1. 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:

2. 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

3. Better training of employees in the communication skills area

4. Continuous training about the latest updates

5. New advertising campaigns should be launched especially in the electronic

advertisement areas

6. There is a need for expansion of the working area especially in the finance department
as the workload is increasing and new recruitment are compulsory

7. Politics should be discouraged in such an environment

8. The employees should be given more incentives and rewards for their good
performances

9. 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

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 Reference
1. www.askaribank.com.pk
2. Askari Bank General Banking Manual

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