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1 Departments Worked During InternshipI did my internship at Bank Alfalah I-8 Markaz, for a total duration of six weeks and the

departments that I worked during this time are as follows:

Accounts pening

perations

Accounts

!ome "inance

#redits

#ar "inancing

1.1 Accounts Opening DepartmentAccounts opening department is one of the departments that come under the retail$general

%anking facilities pro&ided %y Bank Alfalah I-8 Markaz' (ome of the ma)or deposit accounts

opened %y Bank Alfalah I-8 Markaz are as follows:

1.1.1 Major Deposit Account Products

1.1.1.1 Current Account

#urrent Accounts are non interest %earing accounts that ha&e a minimum account opening

re*uirement of +s ,' .o zakat is deducted on the accounts %alance' "urthermore all current

account holders recei&e a !ilal de%it card and there are no restriction on the num%er of

withdraws or deposits made to and from the account'

1.1.1.2 Profit& Loss Saving Account

/rofit0 1oss sa&ing accounts can %e opened with a minimum %alance re*uirement of +s 2,

and profit is credited on a half yearly %asis' 3here are no restrictions on the num%er of deposits

and withdrawal made to and from the account and all account holders recei&e a !ilal de%it card

as well' /rofit and loss sa&ing account cannot %e opened %y a %usiness corporation, howe&er can

%e )ointly opened %y indi&iduals' /rofits are paid at 45 on all account %alances'

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1.1.2 Basic Requirements for Account pening

3he %asic re*uirements to open an account for indi&iduals$self employed are as follows:

#.I#

(ource of income

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1.1.$ Major Work Done %& Account pening Department

1.1.4.1 Sto$ Payent

If a customer looses their che*ue %ook, then that customer will ha&e to come to the %ank and

firstly report the loss and then stop payment, %y telling the series of che*ue he has lost' By

stopping payment, the customer is guaranteed that no illegal payment is made from their account'

3he process for stopping payment, after the customer tells that he has lost is che*ue %ook is that

he fills a "orm B>, which is same as a che*ue %ook re*uisition form and an indemnity form,

stating no responsi%ility on %ehalf of the %ank if any illegal payment is made %efore the time of

announcing a che*ue %ook lost'

As part of my internship, I was to assist a customer towards the whole process of stopping

payment'

1.1.4.2 Bank Stateent an% Bank Baance

A %ank statement tells the whole acti&ity of a %ank account o&er a period of time' #ustomers

often come and want their %ank statements and ha&e to fill a form, relating to the time period for

which the %ank statement is needed'

As part of my internship, I was to assist the customer to fill the Bank (tatement "orm> and

produce the statement through the %anks software and print it as well'

ften customers want to know their accounts %alance o&er the phone and thus I had to tell them

their account %alances using the %anks information system Bank (mart>'

1.1.4.3 Account $ening

hene&er a customer comes to open their account, they ha&e to fill a relationship contract with

the %ank' As part of my internship I had to fill these forms and then use the appropriate %ank

stamps to complete these forms' Also as part of the relationship form, I also had to do a

Cerisys>, a &erification system started %y .A;+A on the #.I# of the new account opener' A

Cerisys> tells, if more information pertaining to the customer is needed to open the account or

not'

"urthermore as all relationship forms ha&e to %e sent to 9arachi, a central location, for all

account relationship forms, I had to de&elop a list of daily forms sent and their *uantity'