Askari Bank Report 2010

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1 Internshi p Report ASKARI COMMERCAIL BANK Summer Internship 2010 University of Management & Technology- SBE

description

Internship Experience

Transcript of Askari Bank Report 2010

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Internship Report

ASKARI COMMERCAIL BANK Summer Internship 2010

University of Management & Technology- SBE

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ACKNOWLEDGMENT

All the praise for ALMIGHTYALLAH, the creator of this

universe who guides us to overcome the difficulties in crucial

situation and all respects are for his HOLY PROPHET

MOHAMMED (P.B.U.H), who enables us to recognize our

creator and understand the philosophy of life.

Beyond of all the material available, I am very thankful to

Sayyed Hussain Zulifqar (Asst. Manager Allama Iqbal

town Branch) and cash Officer Umar Saeed khan who

give me appropriate knowledge about ‘‘ASKARI BANK’’.

And through his Friendly & motivational behavior I was able

to complete my internship. And I am thankful to the

employees of Askari Bank Limited, during the study period

and preparation of this report.

Secondly I acknowledge the inspiring guidance, encouraging

attitude, valuable comments and technical guidance,

received from my respective Teachers of University of

Management & Technology.

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PREFACE

In the name of Allah who Is most merciful and

beneficial. Allah give us many abilities with

these I would be able to complete this report.

This is the internship report of Askari Bank Ltd.

In it the detail is given of the work I have been

done at Bank during internship Period.

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DEDICIATION

I dedicate this report to my parents and friends

in recognition of their worth and to my

teachers who are the guiding force for me and

it is their effort and hard work that showed me

the path of success and prosperity which would

be there for me for the rest of my life

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Table of Content

Executive Summary ……………………………………………………. 08Body of report …………………………………………………….. 09

Chapter Number 1Introduction of the Business …………………………………………….11Company Products and Services ………………………………………..13Company Services ………………………………………………… --Company Products …………………………………………………14Company Profile …………………………………………………18Objective of the company ………………………………………………19

Chapter Number 2Organogram of Business ………………………………………………..21Branch hierarchy ………………………………………………………22Corporate information of Business ……………………………………..23

Chapter Number 3Department of the Business ………………………………………….…26Learning Experience ……………………………………………….….27Week First Experience ……………………………………………….. . 27Week Second Experience …………………………………………….. 32Week Third Experience …………………………………………… . .35Week Fourth Experience ……………………………………………. 36Week Five Experience …………………………………………… .38

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Week Six Experience ……………………………………………..…39Feed back of Internship ……………………………………………. 40

Chapter Number 4Conclusion ……………………………………………………… ….43Recommendations ……………… ……………………………… …..44 References\Bibliography ………………………………………… … 45

Executive Summary

This report is based on Askari bank business shows how bank’s Departments works to

facilitate the customers. This report highlights the whole business process of Askari Bank

and the functions of different departments.

I had completed my internship in the Askari Bank Main Bloveard Allama Iqbal Town

Branch. I worked at various department of the bank. Such as In accounts opening

department, accounts department, cash department and did some work at clearing and

remittances department. The working environment at Bank was good. The staff was very

cooperative.

I spent most of my time during internship in account opening department, and Cash

department where I interact with people and know how to deal with customer. I get to

know about the working and procedure of the account opening. I also stamped all the

documents of account opening form i dispatch the account opening form in a file.

With this internship I enhance my intellectual skills. I deal with customer and help those

customers, who are confused or illiterate, help them in such a way by filling credit or

debit slips. In cash department I sort out the cash and count the cash. In accounts

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department I had filling different reports. I also check the daily activity such as online,

customer and GL. In clearing department I clear the cheques having supervised, I

stamped the cheques. Maintaining good relationship with the customer has polished my

interpersonal skills. I used to maintain the record of each cheques book and ATM issued

both on the registered. I also used to place the document on their proper file.

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Body of Report

The whole report is Comprises on four

chapters the chapters based on the brief

Introduction of Askari bank when the Askari

bank Ltd. has started there business’s talk

about the whole Services they are providing to

customers. Explore the banking Sector of

Pakistan. I have written down the Services

which this bank is dealing. Explore all the

Department of the bank and also discuss the

Organ gram.

This Report also includes my learning

experiences which I have got by spending Six

weeks in the bank’s environment.

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Chapter # 01(Introduction of the business)

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Introduction

ASKARI BANK is the leading private sector bank in Pakistan, delivering quality service

through innovative technology. Askari bank has “The Best Retail Banking Award 2008”

by Pakistan Guarantee Export Corporation Ltd.

Askari Bank Ltd (formerly Askari Commercial Bank) was incorporated in Pakistan on

October 9, 1991, as a Public Limited Company. It started its operations during April 1,

1992. The bank principally deals with mainly banking, as defined in the Banking

Companies Ordinance, 1962. The Bank is listed on the Karachi, Lahore & Islamabad

Stock Exchanges and its shares are currently the highest quoted from among the new

private sector banks in Pakistan.

Askari Bank has expanded into a nation wide presence of 209 branches, and an offshore

banking Unit in Bahrain. A shared network of over 1,100 online ATMs covering all

major cities in Pakistan supports the delivery channels for customer service. As on

December 31, 2005, the bank had equity of PKR 8.6 billion and total assets of PKR 145.1

billion, with over 600,000 banking customers, serviced by our 2,754 employees.

In the success story of ASKARI BANK, one of the most important factors, apart from its

dynamic management and prudent approach, is the QUALITY of its SERVICES, which

gives it a great edge over its competitors. ASKARI BANK has always strived to facilitate

its customers by introducing various high quality hi-tech services for the first time in

Pakistan.

We are proud of our pioneering role in providing the most modern and technologically

advanced services to our customers. Knowing our customers and their needs is the key to

our business success. Our products and services are as diverse as our market segments.

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Technology has played a pivotal role in meeting customer expectations, particularly with

respect to the speed and quality of services.

We have fully automated transaction-processing systems for back-office support. Our

branch network is connected on-line real-time and our customers have access to off-site

as well as on-site ATMs, all over Pakistan. This includes not just establishing and

maintaining technology infrastructure for providing operational support to all units of the

Bank, but also encompasses introducing latest state-of-the-art technology-driven

products and service delivery systems, such as ATM networking, Internet Banking,

Mobile ATM, Credit Cards, Debit Card, Prepaid Card, utility bills payment through

ATMs & Internet which have brought about cost-effectiveness, timesaving and safety.

Askari bank has also achieved another milestone with the launch of Askari Bank Zari

Credit Card. This is the first ever credit card offered to the farmers in Pakistan with

complete product features and service benefits. It aims to meet farmer’s production and

development needs and to supplement cash flows, whenever required.

It is also a matter of satisfaction that ASKARI BANK has been the first bank to

introduce PTCL and WAPDA utility bills payment electronically through ATM and

Internet on an Online-Real-Time Basis. For the first time in Pakistan, we have

introduced Mobile ATMs to provide banking facilities at the doorsteps of our customers.

Askari bank’s mobile ATMs first in the banking history of Pakistan, now four in number,

continue to serve customer needs.

Our Phone Banking and Internet Banking Facility allows our customers, to access their

accounts from anywhere in the world, and effect transactions.Bank has established its

Data Warehouse and Customer Care Centre, a dedicated customer call center to

provide one window service to our valued customers in terms of their telephonic

enquires.

Askari bank is first Pakistani bank to offer on-line real-time banking on a country-wide

basis. It is first Pakistani bank with nation-wide network of ATMs.It is first bank in

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Pakistan, foreign or local, to introduce Internet banking in the country. First time ever

this bank introduces Mobile ATM in Pakistan.

Askari bank remains focused on using technology for improving customer service

standards and expanding the range of products being offered and other technology based

solutions.

Company Products and services

The products and services of Askari Bank limited are developed keeping in view the

customers needs & wants & the expectation that the customer attaches with its financial

institutions An Askari bank product includes all those services which customer normally

required for effectively managing his business

Services Provided by Askari Bank

Askari bank offers the following financial services to its customers

DEPOSITS

One of the basic functions of commercial banking is to receive deposits. Askari bank

accepts deposits in both local & foreign currency

LOCAL CURRENCY DEPOSITS

Current Account

PLS Saving Account

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Term Deposit

Notice Deposit

Askari Special Deposit Account

Value Plus Saving Account

ADVANCES

Advances are major sources of earning of income for commercial banks. Banks attracts

surplus balances from the customers at low interest rates & makes advances at higher

interest rates to the individuals or business firms.

Askari bank offers these facilities in two forms:

Funded facilities

Non- Funded facilities

FUNDED FACILITIES

In funded facilities the bank, actually advance money against further repayment. These

facilities are known as cash credits.

NON FUNDED FACILITIES Non- Funded facilities are those in which bank substitutes its own credit for its

customers. Askari bank offers to its customers are large number of non-funded facilities.

These facilities include:

Guarantee

Latter of credit

Product lines of Askari Bank

There are the complete range of products which Askari bank provide to there customers

Askari (Auto Loans)

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According to the need and ever changing demands of customers Askari bank has

introduce the Auto loans Services to there customers to meet there desires. The tenor of

these loans is based on the amount that customer wants

Askari i-Net Banking (Internet Banking solutions)

Askari bank offer banking through internet. Askari Bank is the first bank in Pakistan to

provide such service to its valued customers which is absolutely free.

Funds transfer Statement of accounts

Balance enquiry free payment of utility bills

Payment of school fee Change of password

Askari MasterCard

It has always been our endeavour to introduce products and services tailor made to the

requirements of our valued customers. Now you can pay your Utility Bills through:

ASKCARD (Askari Debit Card),

Askari bank's ATMs National wide

Internet Banking Services

Askari Cash Management Services

Askari Cash Management Services, aimed to effectively manage the accounts receivable

portfolio of medium and large corporate entities. While this service helps the corporate

entities to improve their liquidity, due to our well diversified branch network. The service

primarily aims at providing clearing, collection and cash transfer facility to corporate,

under one resource center, which will handle the process through the branches and

provide adequate reporting to the corporate clients, on various aspects of their accounts

receivable portfolio, every month

Askari Travelers Cheques

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Askari Bank Limited has always remained at forefront in introducing innovative and

unique products in banking sector. Our financial instruments provide greater financial

freedom and security in an unmatched way to our valued customers. Askari Bank offers

you its "Rupee Traveller Cheques" eliminating all financial risks while traveling. So

avoid risk of carrying cash through Askari Bank's Rupee Traveler Cheques.

ASKCARD (Debit Card)

Askari Bank is committed to provide you innovative and competitive solutions to your

banking needs in a more efficient and personalized manner. Your Bank enjoys a strategic

competitive advantage over all domestic players by virtue of its leadership, large network

and technological advancement. In line with our tradition of innovation, Askari Bank

takes pride in announcing launch of Askari Bank's Debit Card

Askari Bank’s (Home Loans)

Askari Bank has made the realization of your dream to have a house of your very own

possible. Whether you plan to build a house, tailor made to your requirements or buy a

constructed house, Askari mortgage finance enables you to pursue your goal without any

problems. Owning a home for oneself still remains an exclusive dream for many. Askari

Bank has made the realization of your dream to have a house of your very own possible.

Whether you plan to build a house, tailor made to your requirements or buy a constructed

house, Askari mortgage finance enables you to pursue your goal without any problems.

Askari Bank’s Personal Finance (Loans Scheme)

Askari Bank’s Personal Finance makes sure that you get the most out of your loan. No

matter what your need is, Askari Bank has more ways to serve you than ever before. With

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unmatched financing features in terms of loan amount, payback period and most

affordable monthly installments

Smart Cash (Running Finance Facility for Consumers)

Askari Bank's Investment Certificates not only provide the added security, investment

and monthly return to the customers. These certificates are negotiable and can be

transferred to third party. Investment Certificates can be issued for a period of 3 months

and profit is payable on monthly basis through pre-printed tear-off coupon.

Askari Kissan (Agriculture Finance Programmer)

The role of agriculture in Pakistan economy is of pivotal nature. Due to diverse

geographical and climatic conditions the country has tremendous potential for growth and

development in agriculture. However, adequate and timely financial assistance to the

farmers will improve production potential of agriculture sector in the country. The

modern concept of agricultural credit envisages establishment of an efficient institutional

credit system to serve as a package of credit, supplies and knowledge for the overall

strength of the farmers who at present suffer from low productivity and financial

insecurity. A successful credit evaluation system, therefore, should have the basic

ingredients to provide adequate amount at the right time and in the right form to help

farmers in making a productive use of loan funds.

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Company Profile

The Vision

To be the Bank of first Choice in the Region

Mission

To be the leading private sector bank in Pakistan with an international presence,

delivering quality service through innovative technology and effective human resource

management in a modern and progressive organizational culture of meritocracy,

maintaining high ethical and professional standards, while providing enhanced value to

all our stake-holders, and contributing to society.

Core Values

The intrinsic values, which are the corner-stones of our corporate behavior, are

Commitment

Integrity

Fairness

Teamwork

Service.

Corporate Philosophy

From knowing our customers requirements to understanding employee needs, from

utilizing modern technology to making responsible social contributions, from enhancing

stake-holders value to practicing corporate ethics. We are continuously and consistently

striving to address newer challenges with a single motivation:

“The power to inspire and be inspired”

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Objective in this OrganizationFollowing are the main objectives of Askari Bank Limited are: -

To be the leading private sector bank in Pakistan with an international presence,

delivering quality service through innovative technology and effective human

resource management in a modern and progressive organizational culture of

meritocracy, maintaining high ethical and professional standards, while providing

enhanced value to all our stake-holders, and contributing to society.

To achieve sustained growth and profitability in all areas of business.

To build and sustain a high performance culture, with a continuous improvement

focus.

To develop a customer-service oriented culture with special emphasis on

customer care and convenience.

To build an enabling environment, where employees are motivated to contribute

to their full potential.

To effectively manage and mitigate all kinds of risks inherent in the banking

business.

To maximize use of technology to ensure cost-effective operations, efficient

management information system, enhanced delivery capability and high service

standards.

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To manage the Bank's portfolio of businesses to achieve strong and sustainable

shareholder returns and to continuously build shareholder value. and To deliver

timely solutions that best meets the customers’ financial needs.

Chapter # 02(Corporate information & organgram)

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Organogram of Business

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BOARD OF DIRECTORS

Executive Committee

President and Chief

Regions operational head

Regional Marketing Chief

Regional Business Chief

Corporate Investment

Banking Chief

Commercial & Retail Banking

Chief

Vice President

Regional Brach Manager

Regional Compliance Chief

Branch operation Manager

Regional operation Department

Corporate Head north &

Corporate Head

Special Managing Chief

HRM Group Chief

Regional GM HRM

Regional Risk Managing Chief

Brach Credit Officer

Credit Department Of region

Risk Manager Group Chief

Operation Group Chief

Audit Inspection

Chief

Area Audit Chief

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Hierarchy of branch

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Branch Manager

Operation Manager

Asst. managing Grade

(AMGG)

Credit Officer

Officer Grade1 &2

Non-Clerical Staff

Guards & Sweepers

Clerical StaffCashier Typist & Clerks Assistant

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Corporate Information

Board of Directors

Lt. Gen. Waseem Ahmed Ashraf Chairman

Lt. Gen. (R) Masood Perwaiz Chairman Executive committee

Mr. Kalim-ur-Rehman President & Chief Executive

Brig (R) Mohammad Shiraz Baig Director

Brig (R) Muhammad Bashir Baz Director

Brig (R) Asmat Ullah Khan Niazi Director

Brig (R) Mohammad Safdar Ali Director

Mr. Javed Ahmad Noel Director

Mr. Zafar Alam Khan Sumbal Director/Secretary

Mr. Shahid Hafeez Azmi Director

Mr. Mohammad Afzal Munif, Director

Mr. Tariq Iqbal Khan, FCA Director

Audit Committee

Mr. Muhammad Afzal Munif, FCA Chairman

Brig (R) Muhammad Shiraz Baig Member

Brig (R) Asmat Ullah Khan Niazi Member

Mr. Zafar Alam Khan Sumbal Secretary

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Auditors

A.F.Ferguson & Co. Chartered Accountants

Legal Advisors

Rizvi, Isa, Afridi & Angell

Number of employees

Permanent 4,834

Temporary / on contractual basis 1,273

Commission based 789

Bank's own staff strength at the end of the year 5,896

Outsourced 912

Total staff strength at the end of the year 7,808

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Chapter # 03(Internship Experience & business Department)

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Departments of Business

Internship is an integral part of professional Degrees. Main purpose of internship is to

have a practical experience. It provides a student to get a practical experience and give

inner view of the organization selected. During this internship, a student comes to

practical knowledge so, in this Bank I get practical exposure and to get familiarized with

the ways to live in the organizational environment which is dramatically different from

the educational environment. The whole exposure of internship is written below.

I have work in Askari bank Allama Iqbal Town Branch from (July 16th 2010 To August

31th 2010) as an interne the practical experience which I have got from these departments

is written below.

Major Department

Account Opening department

Remittance Department

Record Department

Cash & Clearing Department

Foreign Trade Department

Credit Department

Credit Card Department (ATM)

Locker Services department

IT Department

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Learning \ Internship Experience

In this section of report I have described all the learning experience which I have gained

by working in the practical business environment.

In my first week in Askari Commercial Bank, Bank Management assigned me work in

Account Opening Department. Mr. Rizwan was the person who deals in the account

opening department. In this Branch. He told me about different accounts their names and

their codes and tells.

How to open the account?

Week # 1 Experience

Account Opening Department

In Acccount opening department I had learn a lot. Before doing internship I don’t have a

idea how to open a account in the bank.Even I was not awear about the departments of

the bank aswell.Anyhow the learning which I have got in Account opening Department

writen below.

The main thing I have learned via obervational learning was how to maintaining good

relationship with the customer has enhance my interpersonal skills and resolving

customer’s Problems give them a feeling that the company employees care for them. On

the other hand the thing which I personally observed in government banking sector the

customers are not treated as followed.

Askari Commercial bank offers these accounts for there customers.

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There are several types of accounts such as:

Individual/ Joint Account

Sole Propreitorship/ Partnership/ Joint Stock

BBA(Basic Banking Account)

Types of accounts offered by Bank

Idivdual/ Joint Account

In it they may open the following accounts

Current Account ( Can be opened at rupess 5000-/ only.)

Saving Account ( Can be opened at rupess 10000-/ only.)

ASDA(Askari Special Deposit Account) (Can be opened at rupess 5000-/ only.)

Current Account is used by the Small businessmen and the students genrally this account

has a low interest rate on the Deposit.

Document required for opening the account are

o Original ID

o Letter Head (in case of businessman)

o In case of illetreate person photograoh of the person.

Sole Propreitorship/ Partnership/ Joint Stock

In it they may open the following accounts

Current

Saving

ASDA(Askari Special Deposit Account)

Document required for opening the account are

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For Sole Propreitorship

o Copy of NIC (see original NIC)

o Letter Head of business

o NTN

For Partnership

Copy of NIC (see original NIC)

Attested copy of “Partnership Deed” duly signed by all partners of

the firm.

Attested copy of Registration Certificate with Registrar of Firms.

In case the partnership is unregistered, this fact should be clearly

mentioned on the Account Opening form.

Authority letter, in original, in favor of the person authorized to

operate on the account of the firm.

Copy of registration certificate( if registered)

Company Letter Head

Two references

For Joint Stock

Certified copies of:

Resolution of Board of Directors for opening of account specifying

the person(s) authorized to operate the company account.

Memorandum and Article of Association

Certificate of Incorporation.

Certificate of Commencement of Business.

Copy of NIC (see original NIC)

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BBA(Basic Banking Account)

This account is open by salary persons and also for students. For opening the account

folloing documents are required:

Copy of NIC (see original NIC)

Salary Letter or bonafide letter for students

Initial deposit Rs.1000

Minor Account

A person who don’t have ID card or a person whos age is below than 18 he can open

Minoe Account He have to Submitt Fourm B to oprn a accouint.

Futher Instructions For Opreating Account:

1. The customer will get the cheque book when he/she will receive

the letter of thanks from Bank.

2. For ATM facility the coustomer will fill the ATM request form.

3. The customer will also get the i-net facility. Through which they

can access their account through internet.

4. If the account holder is going abroad and he/she will want to give

the right to another person to handle his account. He will sign the “third party

mandatry”.

5. If the customer want to change his mailing address. He will fill the

“Address changing form”. The Bank sent one letter on old address and one on

new address to confirm that he actually want to change address.

6. If the customer do not opreate his account from the last 6 mounths,

his account is dornmant (inactive). To activate the account the customer debit

(withdraw) the money from account.And also write the application to activate the

account and sign on it.

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Check book issuing Procedure;

Once the account is opened, Askari bank issues the Checquebooks to the customer so

that they could withdraw their money whenever the amount they like. The producer

of issuance of the Checque book is as follows:

For the customer who already has an account with the bank, the lastly consumed

Checquebook requisition slip with the help of which a new Checquebook is issued.

And the person who is going to open a new account for the first time gets the

Checquebook free without any requisition slip. Askari Bank issues the chequebooks

for both the local and foreign currency accounts

The amount charged by bank is as fallowed.

Newly opened account issued Free

New checquebook issued amount 150

Lost Checquebook issued 550

Credit/Debt Card issues Procedure;

Mr.Rizwan Also deals this department. He told me that the bank is authorized to issue the

credit card of two companies, which are under bank of America.

Master Card

Visa debt Card

There are following types of master card.

Classic card

Silver card

Gold card

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Limitations on Shopping

These cards has also has some limitations on the shopping as well

Classics card (100000-/ limit)

Gold card (200000-/ limit)

Letter of thanks

Once the account is been opened I the bank issued the letter of thanks to customers just to

make a good relations with them.

Week # 2 Experience

Cash Department

In cash department different facilities are given to the customer such as received

cheques, receive cash, pay cash, online transaction. Relief funds amount

submission.Online service is provided by the bank to transfer money from one account to

another.

Work in cash department and learned how to accomplish different tasks like deposit,

credit card slips in this department. I have counted bundles of cash, sorted the cash and

make their packets and bundles again in supervision of management. The spoiled cash is

sent to the head office. Head office sent this to State Bank, which after checking it burn

the spoiled notes.

In cash department we receive the cheques from the customer; we have to verify the

signatures of the issuer by using a soft wear Unibank. The date of issue of cheque,

signature and amounts are checked. Cheque can be encashed after six months of its issue.

If that period is over then the cheque is returned unpaid. There is a limit, different officers

verify up to different amounts.

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If there is any problem in the signatures, then bank call the issuer on the phone to confirm

whether he draws the cheque or not. On the back of the cheque there should be the sign

of the issuer. If any other person presented the cheque then he has to give a photocopy of

CNIC of issuer. In cash department I also learnt how to identify original cheque, this

could save from frauds.

UV Test

If the cheque has a big amount Ultra violet rays analysis is been done on it. to check is

the cheque is authorized or not. If the checque is authorized then the UV stamp is marked

on it.

Cash Department Responsibilty

Cash departmet also inject the money in ATM machine on the daily basis.this all

procedure is done meanwhile in the beginning of setup.the amount which is not used

within the day is backed up and new amount is added in the machine.

The amount which the credit holder take off form the machine is pasted on paper and this

roll paper dairy is kept in the record to check in case of any ambiguity.

In this paper the amount that the account holder taker with time and date is tracked.and

then this tape is paste on the register to keep the record.

Clearing Department

I Work in clearing department and learned how documents are cheeked in clearing

department. If the customer deposited the cheque of another bank to our branch then we

use the stamp of clearing and sent it to the clearing house (NIFT). They have the

representatives from all banks. They checked the stamping, signatures, date, amount; etc.

if it is correct then they clear it. Otherwise these are returned to the branch. State Bank of

Pakistan Dr. or Cr. the amount of these Cheques.

Clearing Procedure

Here the local cheques are received that are drawn on Askari bank. All the cheques are

received on one counter along with the paying slips duly filled in properly containing

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particulars of cheque and account holder. Counter folio of paying slip is handed over to

the customer by putting stamp for cheque received for collection for Askari bank on it

duly signed by officer. These cheques are analyzed and cheques for local clearing are

separated from OBC. These are then entered in clearing register and cheques for

collecting are entered in OBC register and handed over the bills department of collection.

Clearing officer checks and verifies title of all the cheques deposited by the customer to

confirm the good title of the cheques. Cheques are scrutinized properly and paying slips

are separated from cheques. Special crossing, endorsement and clearing stamps are

affixed on the cheques. Cheques of each bank are sorted and arranged branch wise. All

the cheques are then entered into the clearing system of bank. Print out of the clearing is

taken and details are attached.

With the cheques of each bank. Details of these banks are then entered into the

clearing schedule containing number of cheques presented and their total amount against

the name of each bank. Then total number of cheques presented to all banks and their

total amount is written on the foot of that schedule, which is tallied with the clearing

register.

After this these cheques are delivered to the respective banks in clearing house of

SBP between 9:00 to 9:30 AM. In the same manner, other banks present their clearing

drawn on Askari bank. Total number of cheques and their amount delivered to other

banks are received from them are written on the clearing house schedule and handed over

to the officer clearing house SBP. Cheques / DD received in clearing are given to the

officer cash department of the branch for their repayment. After I proper scrutiny of

cheques, verification of signatures and confirmation of balance in the account, officer

cash department pays these cheque by canceling and posting them in the system.

If any cheque is not passed due to insufficient balance or any other reason, officer cash

department returns the same cheque by attaching a cheque return memo containing

reason for return. This cheque is entered into the cheque returned register and bank

charges are deducted according to the schedule of charges.

Second clearing is called at 2:30 PM to check the fate of the Cheques presented to other

banks in the morning. If any cheque is to return, that is delivered to the same bank in

second clearing. In the same manner, if any cheque presented by Askari bank in first

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clearing is returned, they receive it and once again give schedule of clearing figure to the

officer-clearing house SBP containing number of cheques and their amount delivered and

received unpaid.

Types of clearing

There are three types of clearing

Inward Clearing: In inward clearing the bank is paying on the behalf of their

customer. In it bank give the payment to other bank.

Outward clearing: In outward clearing the bank is receiving the amount on the

behalf of their customers. In it bank collect the payment from other banks.

OBC: It is out of city where the branch of SBP does not exist.

Week # 3 Experience

Credit Department / Loan sanctions Department

Loan Sanctions department also called credit department it is one of the most important

departments of the bank. It is called the mind of the bank. This department controls the

affairs of bank related with the finances or loans.

The Loan Sanctions department of askari Bank also performs the functions relating to the

credit administration and credit accounts. It performs following functions. Our Credit and

Department aims at providing complete financial solutions for its customers. Skilled

professionals deliver contemporary corporate banking services in a personal manner.

Committed to maintaining stable and long term relationships with our customers, Askari

Commercial Bank combines personalized services with technological capabilities to

deliver sophisticated banking solutions.

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Learning in this department;

I Work in loan sanctions department and learned how loans are being approved and how

proposals are send to valued customers. Here we have to see different things like worth of

customers, there financial strengths, market repute; etc.There are different types of

finances and for them there are different requirements like requirements of working

capital, mark up rate has been decided and clean up requirements has also taken into

consideration.

Clean up means for once in a year, the customers have to pay the whole loan. Here the

aim is to check that whether he is able to pay his loan or not. TL or TF: It stands for term

loan or term finance. It is for companies not for consumers.

Issuance of loan (Back End Procedure)

One the application of loan is given to this department the bank check the exact amount

of the assets to that person who want to take loan from the bank. The evaluation of the

property is taken from the property dealer’s generally in askari bank the loan is given on

the amount of assets that an individual has. In my stay in this department the bank

management has approve the loans for small businessman and house renovation.

Week # 4 Experience

Remittance department;

Remittance department provides services to the customer of the bank. The main function

of this department is transfer of funds.

The instruments that are handled in this department are as follows:

Demand Draft.

Traveler’s Cheque

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Telegraphic transfer

Pay order.

Objective of remittance Department

Remittance department provide a facility to a customer to transfer money from one place

to another. And can also refer to the accounting concept of a monetary payment

transferred by a customer to a business.

Remittances are transfers of money by foreign workers to their home countries. In

remittances they tell me different functions. They issue pay orders, demand drafts, call

deposit receipt (CRD), fixed deposit receipt (FRD), telegraphic (TT).the short description

of these all are written below.

Pay Order (PO)

This is used to transfer money within city. The charges where taken it depend upon the

amount.

Demand Draft (DD)

This is used to transfer money outside city. The charges where taken it depend upon the

amount.

Tele Transfer (TT)

This is used to transfer money outside country. The charges where taken it depend upon

the amount.

Traveler’s Cheque

Used by the individuals for travel outside of the country generally used by the tourist.

Information technology Department

Information technology department in bank observe all the activited via camera .and

ensure the securilty to the bank.it is responsibale to provide all kind of information

realted technology to the bank.

It also observed the computer systems of the bank in case of any imbiuity helps the

related department.Main purpose to opertate the banking softwera with is uni Bank.

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Week # 5 Experience

Record Room Department

My work account department this departmant is also caled activity.all the checques and

vouchers are allocated here and then attacthed with the sheets.

Genrally two typoes of activites are performed here

o Customer Deposit

o General Ledger

o Online Ledger

Customer Deposit

In costomer ledger all the transations which are done by the customers are attached which

the sheet here.the tractions may conatins gerall deposits in accounts,tranffer of

funds,ATM transations the amount which the customers deposit to purschae some sought

of property for for donation.

To perpare the customer ledger these things are checked

o Account number of customer

o Instrument number

o Slip number

o Amount number

Generally it includes checques gerall deposits Slips Vouchers School or university fee.

With the sheets they are arranged with codes the different accounts have different codes

like ASDA current or saving accounts have different Number on them.

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General Deposit

In genrall ledger the inter branch expenditure of the bank and all those vouchers are

attached with the sheets which belongs to other banks or companies this all procedure are

done according to Codes.

Income\ commission pay orders local bills has different Sheet codes and the Vouchers are

attached accordingly .the some codes are written as fallowed

640 Income \ commsion

0780 New checque book Issusse

1900 Fuel Expense

2050 Demnad draft issued during the day

4210 Pending Cheques

4370 Local Bills

5410 Vouchers

5610 Main office accounts

6010 Cash postion forgien

6020 Cash postion Local

6025 Cash in ATM

6075 Due from treasury

7490 Prize bond

7600 Expenses from the branch

7605 travel Cheques

4250 T.T Issue

My Learning Account Department

I have worked in accounts department and learned how the daily activities are being

handled. I have rechecked entries, vouchers and matched them with the entries in the

report. I have identified errors in it like missing stamps, wrong entry of document

number; etc. I have checked there different reports of daily working like online report,

reconciliation report, and customer report. Here I have checked G/L account in which

there are different types of accounts like refreshment, suspense, depreciation account; etc.

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In customer account report we have to see the vouchers of their day to day transactions.

In online report we have to see on line transactions like transfer of amounts by customers

and check and verified them through vouchers.

Online ledger

Online ledger is simple as compared to general or customer ledger because there the

vouchers are attached according to there account numbers by matching with the sheets

provided.

Week # 06 Experience

Foreign Trade Department

The term foreign exchange is used to denote either a foreign currency or the rate at which

one currency is converted into another .Foreign exchange department performs following

functions:

o Foreign Bills for collection

o Foreign telegraphic transfer

o Foreign Demand Draft

o Inward remittances

o Daily Reporting

The daily reporting is done by binary language call SWIFT. And all the record of the

transaction is kept but banks it self and also sent to the SWIFT. The binary language is

based on Codes with is only understand able by bank and swift.

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Accounts Department

Accounts Departments deals with income and expenditure of the branch. Generally it

plays a role of Human resource of the branch. The monthly salaries of the staff, the

process of recruitment of the equipment used for the banking procedure like pen, gum,

registers or phone bills Etc. all the money or the recourses are provided by them.

In this they make the budget for their monthly and daily expenses (refreshment,

stationary; etc.) Salaries of the staff are prepared in this department.

Locker Services

Askari banks also facilitate there customer by providing them locker services a fixed

amount is charged from those customers who have activate there locker in the bank.

I have not stayed in this department for a long time because of shortage of time but I have

learned how the bank management behaves with the customers how these services have.

Now about my learning Experience get to know that the customer how is using this

service the bank give him a key to access there locker in the bank

The locker can be opened just by two keys if they are available at the same time the other

key the bank management have. The customer is allowed to stay in locker room as much

time as they can check there treasury what ever that have any time.

Feed Back of Internship

I worked as an internee in Askari Bank to gain and experience the knowledge and

working of banking sector. These are the learning of my internship:

Learn how the bank’s departments function. I wanted to have myself in the environment

where I could get interact with the customer I Learn about the techniques and processes

used in Operations Department.

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How to Deal with the problems regarding their Accounts or any other related problem.

And guiding customers and making the banking function convenient for them. To get the

thorough knowledge of different credits offered by bank.

Knowledge gained

Well no doubt that I have learned a lots from the internship special who to deals with the

customers how to behave under different situation. Before doing internship I have no idea

about hoe to fill the checque what is voucher what kinds if transaction take place in bank.

How I can transfer my money from on city to another also know about different kinds of

checques and there features. So really my knowledge has improved and I have learned a

lot.

Skill Development

I have also improved my skills specially the dealing skills while working in account

department how to interacts with the customer who to deals with the boss and

subordinates. one more thing I want to add here how to dress because the corporate

culture of Askari bank is full formal.

Team work Learning

Well I have not got a chance to work in a team while my internship but my subordinate

really helps me and where a need required tell me about a specific object. The work

which I have done I Accounts department was Complicated and attention taking the

senior internee really help me in this department.

Specific Assignment \ Research Work

I have not got a chance to do work in form of group of any research work because

generally interns get a chance to do these things in companies. While I have done in bank

some I have not got any opportunity like this.

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Chapter # 04(Conclusion & recommendations)

Conclusion

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I have come up with a final conclusion in my view that Askari bank is good as compared

to other local banks but in some areas still they need to work. Even though the customers

has a good image of bank in there bank

On the semi annually bases the targets of money to bring in the banks are given to the

employees that’s creates pressures among the whole workforce of the bank. there are

some persons in the bank who are working on the contract base to utilize there

efficiencies bank can provide the job security to these candidate.

On thing that I have noticed here that the top management of that branch just has good

relations among them while the officers grade level are not treated well so the

management has to behave formally. The sense of Decentralization no exists and

promotion is given to employees after three years with a strong reference.

Finally I want to say the soft wear which they are using is not secured it is very easy to

use and any person how knows how to use computer can handle it I suggest to bring

some sought of Complexities in it.

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Recommendations

They should treat interne as Interne not like Office boys.

The bank should use efficient Internet facility, which is available in the market

very easily. They should use DSL or Wi tribe Internet in Branch but sometimes

the speed of internet is very slow which create great problem especially for online

transactions.

There must be separate parking for both employees and the customers, in order to

facilitate them both. It is better for the bank employees to arrive at bank 5 to10

minutes early then there bank timings, so they could have the proper parking

space for them.

Internees are given less importance. They do not have proper procedure for

training. Internees should be given more formal training.

In Allama Iqbal Town Branch, there is less staff. So, they should hire more

employees to meet there working requirements efficiently.

Askari Bank Allama Iqbal town Branch is free space available in Second flour

they can bring there Islamic Brach here to utilize there space and avoid extra

expenditure of frent.

Training programs offered by Askari Bank are less. They should increase them to

enhance the skills of their employees.

Many customers complaint that the bank numbers are busy all the time. Actually

one is not working properly, so they should remove this fault to avoid customer

dissatisfaction.

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References

Here I want to mentioned the name of those persons inside the bank who really help

me to make this report

Mr . umer saeed

Cash officer Mob; 0321-4065181

Mr. Sayyed hussain Zulifqar

Asst. manager of bank Mob; 0321-4123191

Official Annual Report of askari bank 2008-2009

Corporate Reports of Askari Bank

http://en.wikipedia.org/wiki/Askari_Bank

http://amcy5.com/Reports/internship/amcy25.htm

http://www.sbp.org.pk/stats/Balance/Askari.pdf

http://www.bankingmohtasib.gov.pk/download/ar_2008_100.pdf

http://www.askaribank.com.pk/

http://en.wikipedia.org/wiki/Askari_Bank

http://en.wikipedia.org/wiki/Bank

http://en.wikipedia.org/wiki/History_of_banking

http://www.sbp.gov.pk

http://www.ibp.com.pk/

www.askaribank.com.pk/mastercard.php

investing.businessweek.com/research/stocks/.../snapshot.asp.

http://www.askaribank.com.pk/mastercard.php

http://companydatabase.org/c/national-commercial-banks/banks/banking-

services/commercial-bank/bank-limited/askari-commercial-bank-limited.html

www.intelligent-ideas.com/askari-bank-pakistan

http://www.docstoc.com/docs/10489756/Horizontal-Analysis-of-Askari-Bank

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