INTERNSHIP REPORT ON

Bank –Alfalah

SUBMITTED TO:

SUBMITTED BY:

PREFACE

Along with theoretical knowledge it is very much

important for the students of MBA to know the

practical applications of this theoretical knowledge.

For this purpose Business Administration Department

made arrangements for internship training in

different organizations for its students.

I am proud of having this opportunity to complete my

training in a very reputable and prominent

organization i.e. Bank Alfalah limited . During my

six weeks training, I tried my best to learn as much

as possible and in the report in your hands I have

tried to make my humble endeavor to cover various

aspects like introduction with history, management,

departments with their functions, reports working of

Bank Alfalah limited.

Although Bank Alfalah Limited is running its financial

matters very well, but I think there is always a room

for further improvements. Keeping this thing in view I

made a humble effort to give some suggestions in the

last of this report.

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COMSATS Institute of Information Technology

LAHORE.

Acknowledgements

After completing my internship program first of all I

am immeasurably thankful to Almighty Allah for

helping me in many ways to complete this internship

report. My second thanks to my loving parents whose

encouragement made this task easier. I am grateful

to Mr Faizi Zia Uddin (Marketing manager BAL) who

provided me an opportunity to do my internship

program in highly regarded organization i.e. Bank

Alfalah Limited .It was the valuable experience for

me to do such interesting work and it was really a

delightful job for me to do.

I am specially thank full to Mr Tahir Qazafi (Manager

accounts WECHS) who made his valuable efforts to

arrange my internship in this prestige and growing

organization.

During my internship tenure I found the staff of the

bank very cooperative and helping in all regards. So

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that I got the opportunity to learn in very good and

friendly atmosphere.

I am thankful to all officials of Bank Alfalah Limited

and both officer and non-officer rank staff in this

office for providing facilities and necessary

information, whatever needed during my internship

program that was necessary to complete the report.

My special gratitude to all those staff members who

have directly guided and teach me in their respective

departments.

COMSATS Institute of Information Technology

LAHORE.

TABLE OF CONTENTS

Sr.# List of contents Page #

01 Evaluation of Banking Structure 05 02 Introduction of Commercial Banking 06 03 Introduction of Bank Al Falah (BAL) 08 04 History of BAL Ltd. 09 05 BAL vision and business philosophy 10 06 BAL objective 11 07 BAL values 13 08 Corporate information 16 09 Managerial Structure 22 10 Committees of the Bank 30 11 Branch Network 31

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12 Product and Services 38 13 Promotion 45 14 Benefits to Employees 47 15 Managerial Policies 51 16 Accounts Departments 56 17 Accounts opening Department 61 18 Clearing 73

19 Locker handling dept. 8120 Customer Relationship Management Dept. 8421 Internal Audit 8522 Customer Relationship Officer Dept. 8523 Govt. Securities 8624 Internship Activities 8925 Swot analysis 10426 Recommendation for BAL 10627 Suggestion for next Internship 107

EVOLUTION OF BANKING STRUCTURE IN PAKISTAN

At the time of independence there were only 487 branches of banks

working in Pakistan. The economy of Pakistan was largely dependent on Indian

banks. There were only 2 Muslim owned banks in sub-continent and they were

Habib bank and Australasian Bank. Due to lack of resources and communication

network most of the banks were closed and a no of branches were reduced to

195 in June 1948.

To overcome immediate problems like issuance of currency, exchange

control etc. The reserve bank of India was allowed to act as a central bank of

Pakistan.

At that time there were 19 branches of foreign bank working in Pakistan .the govt

of Pakistan took over exchange control from reserve bank of India on April 1st.

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On July 1st 1948 the state bank of Pakistan was founded as a central bank of the

country and inaugurated by Quaid –e –Azam.The main reasons establishment of

SBP were to:

1. To overcome problem of public debt management and exchange control.

2. Indian govt had withheld share of Pakistan amounting to rs.75 crore.

Right after the formation of SBP, Habib Bank Ltd was encouraged to

expand its branches, National Bank of Pakistan was also established in

1949 .THE first development finance institution was Pakistan industrial and credit

Investment Corporation, which was formed in 1947 to encourage industrial sector

in Pakistan.

In 1959, United Bank Ltd was formed.

In 1961, Industrial Development of Pakistan was established.

In 1962, National Investment Trust was formed.

In 1966, Investment Corporation of Pakistan was established to

encourage investment in the country.

In 1973, national development Finance Corporation was

reestablished for providing short-term loans.

On 1st January 1974, govt. of Pakistan nationalized all banks and

were brought down under these names:

HABIB BANK LTD

ALLIED BANK LTD

UNITED BANK LTD

MUSLIM COMMERCIAL BANK LTD

But now the Financial Structure of Pakistan can be broadly categorized into

scheduled Banks and Non-Banking Financial Institutions (NBFIs). There are 13

private commercial banks, 4 privatized commercial banks, and 3 nationalized

commercial banks and 21 foreign banks.

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INTRODUTION OF COMMERCIAL BANKING

The word bank is said to have been derived from the Latin word bank banque or

back or banc us. The history of the bank dates back as early as 2000 BC. Since

the commercial banking has passed many phases the commercial banks

performs so diversified functions is that not possible to do. So far as the law is

concerned Banking Companies Ordinance 1962, defines the term banking as

follows:-

“Accepting for the purpose of lending or investment of deposits of

money from the public repayable on demand or otherwise and withdrawals by

cheques, drafts or order otherwise”

The commercial banking has been developed into an important sector of

economy, it is service oriented organization performs numerous functions

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INTRODUCTION OF

Bank Alfalah Limited

7

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VISION AND BUISNESS PHILOSPHY OF Bank Alfalah Limited

Vision

Bank Alfalah Limited is a prominent Pakistani Bank, providing exceptional value

to its customers, 

Shareholders and employees.

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Bank Alfalah Limited competes in selected market niches on the basis of superior

service, innovation, specialized products and professionalism.

Team spirit, initiative, performance drive and customer orientation are the key

characteristics of Bank Alfalah Limited staff and organizational culture.

 Business Philosophy

The Bank is committed to be a sophisticated, prominent and professional

institution, providing one window service to its customers. The Bank visualizes

itself as a full service institution catering to the specialized needs of its niche

markets. Bank Alfalah Limited's activities of dedicated banking services to

the commercial middle market segments of the economy; however, selective

focus is primarily covering the provisions also given to the corporate finance

sector.

Bank Alfalah Limited's operating strategy is focused on continuous improvement

of internal procedures and operating systems to ensure a better control on the

quality of its business and operations.

OBJECTIVES OF Bank Alfalah Limited

Remodeling the bank on the lines of latest global practices.

Converting the BANK AL FALAH in to a viable platform for financial

success and growth.

Stabilization of deposit base.

Origination of new ventures.

Development of new business plans and consequently to become a bank,

which we can all be proud of.

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To become a premier financial institution.

All strategies are focused to become a leading consumer bank in

Pakistan.

A bank responsive to the needs of target market customers.

Delivery of superior services to their stakeholders.

Bank Alfalah Limited

A customer friendly bank with a global yet personalized standard of services, a

superior and consistent look and feel of branches with a strong technology

orientation.

It has the capability to monitor, understand and continuously and proactively

anticipate and adapt to an ever-changing external environment and customer

needs.

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It serves an upwardly mobile middle and upper-middle income socioeconomic

class with a desire for a higher standard of service.

It strive for the consistent delivery on the promise to the customer for all

products and services in line with their needs and aspirations making their

interaction with the bank a “wow” experience.

It offers products that are simple, creative and address the life stage needs of

our target market customer.

It creates value for our stakeholders- employees, customers, shareholders,

regulator & community at large; not through short-term profit, but long-term

successful growth of business and staff development, and commitment to social

causes.

BANK ALFALAH’S CORE VALUES

HUMILITY:

Being conscious of one’s self worth but modest with a sense of style and quality

and respectful towards colleagues regardless of rank or position.

INTEGRITY:

Uncompromising honesty to oneself, the customer and the company with mutual

relationships based on trust and the rejection of intrigues.

MERITOCRACY:

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Compensation and career progression based on performance against set goals

and objectives – without bias to personal relationship, gender, religion or

ethnicity.

INNOVATION:

Create and implement simple yet creative, new and dynamic future

oriented leanings leading to out of the box solutions to the needs of

the customer and improved productivity.

TEAMWORK:

The ability and willingness to share equally the responsibility of failure and the

glory of achievement.

REAL TIME ONLINE BECAUSE

BANK ALFALAH VALUE CUSTOMERS TIME

BANK ALFALAH ONLINE is a state-of- the- art contact center, which offers real

time advantage, With ONLINE customers no longer have to take time out to visit

the branches for their banking needs. With just a single phone call they can

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access to a wide range of the TELE-BANKING solution and personalized

banking services.

Key benefits of BANK ALFALAH ONLINE.

Simple and convenient banking solution over phone.

Instant access to banking services from anywhere at anytime.

Save time and money.

ONLINE FEATURES:

Check account balances.

Instruct issuance of pay order and demand drafts.

Transfer funds between your own account and to a third party account.

Order issuances of check books.

Make your cards or loan accounts payments.

Check transaction history of accounts.

Get your account statement through fax.

Receive information on various Bank Alfalah Limited products and

services.

Obtain status of your issued cheque.

Find out status of your card and loan application.

Request balance and reference certificate.

Get currency exchange rates.

Find emergency and important numbers.

Issue stop payment instructions.

Loss of your checkbook.

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CORPORATE INFORMATION:

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QUICK TRANFER OF MONEY

THROUGH MONEY GRAM

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Bank Alfalah limited, in collaboration with Money Gram, offers remittance service to Pakistan.MoneyGram is person to person money transfer service that allows consumers to receive money in just a few minutes.

Secure and reliable:An extensive network of quality agents, linked by computer, will transfer your money safely and ensure that it is handled with care and without delay. Thousands of people already use the Money Gram service all over the world. It is trusted for its reliability and security.

Convenient and fast:Money Gram is available in over 154 countries and in more than 40,000 locations worldwide. With Money Gram your money is transferred immediately and usually arrives at the receiving end within 10 minutes while other services can take days or weeks. There are no complicated procedures and you do not need a bank account or a credit card. What’s more, the receiver is handed the cash immediately.

Free message service (for senders):There is also an added personal touch-you can receive a 10 word message from the sender with every transaction at no extra cost.

Easy to receive!Simply follow these steps:

                        To receive money

   Ensure that the sender has given you the Money Gram reference number.

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   Go to any Bank Alfalah’s authorized branch, taking some form of identification        (e.g. N.I.C./passport) with you.

   Provide the reference number and complete a simple form.

   You will be given the money immediately, in your local currency

MoneyGram is available in over 154 countries and in more than 40,000

locations worldwide.

  With MoneyGram your money is transferred immediately and usually arrives at

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the receiving end within 10 minutes Other services can take days or weeks.

There are no complicated procedures and you do not need a bank account or a

credit card. What’s more, the receiver is handed the cash immediately.

  These are the countries:

 Albania, American Samoa, Andorra, Angular, Antigua, & Barbuda, Argentina,

Armenia, Aruba, Australia,Austria, Azerbaijan. Bahamas, Bahrain, Bangladesh,

Barbados, Belarus, Belgium, Belize, Benin, Bermuda,Bolivia, Bosnia, and

Herzegovina, Botswana, Brazil, Bulgaria, Burundi,Cambodia,Cameroon,Canada, 

  Cayman Islands, Chile, China, Colombia, Costa Rica, Croatia, Cyprus, Czech

Republic, Democratic Republic Of Congo, Denmark, Djibouti, Dominica,

Dominican Republic, Ecuador, Egypt, El Salvador, Equatorial Guinea,

  Eritrea, Estonia, Ethiopia, Fiji, Finland, France, Gambia, Georgia, Germany,

Ghana, Gibraltar, Greece,Grenada, Guam, Guatemala, Guinea, Guyana, Haiti,

Honduras, Hong Kong, Hungary, India, Indonesia,

  Ireland, Italy, Ivory Coast, Jamaica, Japan, Jordan, Kazakhstan, Kenya,

Kyrgyzstan, Kuwait, Latvia,Lebanon, Liberia, Lithuania, Macau, Macedonia,

Malawi, Maldives, Maldives, Malta, Mexico, Moldavia, Monaco,

  Mongolia, Morocco, Mozambique, Namibia, Nepal, Netherlands, Netherlands

Antilles, New Zealand, Nicaragua,Nigeria, Norway, Oman, Pakistan, Palestine,

Panama, Paraguay, Peru, Philippines, Poland, Portugal, Qatar,

  Romania, Russian, Federation, Rwanda, St.Kitts & Nevis, St. Lucia, St.Vincent

& Grenadines, Samoa, Saudi Arabia, Senegal, Seychelles, Sierra Leone,

Singapore, Somalia, South Africa, South Korea, Spain, Sri Lanka,

  Suriname, Sweden, Switzerland, Taiwan, Tanzania, Thailand, Togo, Trinidad,

And Tobago, Tunisia, Turkey,  Turks, & Caicos, Uganda, Ukraine, United Arab

Emirates, United Kingdom, Uruguay, Venezuela, Vietnam,Virgin Island, Western

Sanoa, Yemen, Zambia, Zimbabwe.

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Karachi   Main Branch: BA Building, 

   I.I Chundrigar Road.    Tel :( 92-21) 111-777-786, 2414030-9 

   

LahoreLDA Plaza, Kashmir Road.

Tel :( 92-42) 6306201-10, 6303716 

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Sharah-e-Faisal Branch54-A, Fortune Centre, Block 6, PECHS.

Tel :( 92-21) 4313536-8 

Gulberg Branch125-E/1, Main Boulevard, Gulberg III, 

Tel :( 92-42)-5877800-8, 5757791-2

   Rawalpindi   Rawalpindi Branch: 

   B A Building, 8, The Mall    Tel :( 92-51)5582288, 566084-6, 

   5568091-3

IslamabadBlue Area Branch: 

1-B, Awan Arcade, Jinnah Avenue, Blue Area 

Tel :( 92-51) 2275286, 2270193, 206986-7

   PeshawarIslamia Road Branch: 

6/38/L, Islamia Road, Peshawar Cantt. 

Tel :( 92-91) 287051-5 

SialkotParis Road Branch:40-A, Paris Road. 

Tel :( 92-342) 591741-43-44, 590098 

   Multan   Abdali Road Branch: 

   62-A, Abdul Raod.   Tel :( 92-61) 546792-6, 540964

FaisalbadLiaquat Raod Branch:

State Life Building, Liaquat Raod, Tel :( 92-41) 617436-39, 617433

   Hyderabad   Saddar Branch:

Plot No. 476/1-2, Adjacent Hotel Faran.Tel :( 92-221) 786020-22, 784242 

GujranwallaG.T. Road Branch:

Naqvi Building, Behind General, Bus Stand, G.T. Road.

Tel :( 92-431) 255556-16, 299931-6 

Rahim Yar KhanShahi Raod Branch: 

City Centre, Shahi Road, . Tel :( 92-731) 84771-73-79, 79881 

QuettaM.A. Jinnah Raod Branch.

2-12/7(1), M.A. Jinnah Road., Tel :( 92-81) 841048-57-63 

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GERERAL BANKING

IN

BANK AL FALAH LIMITED

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ACCOUNT OPENING DEPARTMENT

There are three types of accounts:

Current account

Saving account

Term deposits account

As the name signifies it is the department whose function is of opening the new

accounts. New accounts bring business and deposits for the bank. Deposits are

the lifeblood for any bank.

Any person who wants to open an account with BANK AL FALAH walks into the

bank and fulfills some of the requirements and become an accountholder of the

bank.

1. Opening An Account

a) A Customer designing to open an account in the Bank shall submit in the

prescribed form an application for opening an account. The customer shall

provide the required information and submit the required documents. The

customer must be introduced as required.

b) If for any reason an account is opened with incomplete documents or

information, the Bank may at its discretion withhold operation in the account

till such time information/documents are provided. In case of non-compliance

of these requirements, the Bank shall have the option to close such an

account.

c) The Bank reserves its right to refuse to open an account without assigning

any reason.

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d) Each account shall be allotted a distinctive number, which is to be quoted in

all correspondence with the bank relating to the account.

Requirements In Case Of Individuals Account Opening

1. Date of account opening

2. Account opening approval

3. Customer Name

4. Joint Name (in case of joint account)

5. Mailing Address

6. Alternate mailing address

7. Telephone number

8. Nationality

9. NIC/Passport Copy Attached

10.Account type

11.Currency of account

12.Related account information

13.Zakat deduction authorization

14.Affidavit/Declaration in case of no Zakat deduction (if applicable)

15.Hold Mail

16.Either or survivor instructions

17.Next of Kin information

18.Third party Mandate (if any)

19.Proof of guardianship in case of Minor’s account

20.SS Card (specimen signature card)

21.Check Book Ordered

22. Introducer’s Name and Account Number

23. Introducer’s Signature Verification

24.Segment Code Mentioned

25.Signature on Bank’s Terms and conditions

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In Case Of Sole Proprietorship following things are required:

1. NIC/Passport Copy Attached

2. Copy of NTN Certificate

3. Request Letter on Company’s Letterhead

4. Sole Proprietorship Stamp

Partnership/Club/Society/Association or Trust1. Certificate of registration

2. Certified copy of Partnership Deed

3. Certified Copy of Rules

4. Certified Copy of Resolution

5. Copy of By-Laws

6. Copy of NTN Certificate

In Case Of Limited Company has to open the account, and then following things

are required:

1. Certificate of Incorporation

2. Certificate of Commencement of Business (PLC only)

3. Memorandum of Association

4. Articles of Association

5. List of Directors

6. Copy of Board Resolution

7. NIC Copies of Signatories

8. Copy of NTN Certificate

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TERMS AND CONDITIONS GOVERNING ACCOUNTS

1)General

a) The laws and the customs shall govern the relationship between the Bank

and the Customer and usage of the Banking Trade and these Terms and

Conditions.

b) Nothing contained in these terms and conditions shall impose any obligation

on the Bank. These are only for the guidance of the customers.

2. Opening An Account

a) A Customer designing to open an account in the Bank shall submit

in the prescribed form an application for opening an account. The

customer shall provide the required information and submit the

required documents. The customer must be introduced as required.

b) If for any reason an account is opened with incomplete documents

or information, the Bank may at its discretion withhold operation in

the account till such time information/documents are provided. In

case of non-compliance of these requirements, the Bank shall have

the option to close such an account.

c) The Bank reserves its right to refuse to open an account without

assigning any reason.

d) Each account shall be allotted a distinctive number, which is to be

quoted in all correspondence with the bank relating to the account.

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3. Joint Account

a) If the account is opened in the names of two or more persons, the balance to

the credit thereof any time shall belong to the Customers jointly. Such

persons shall be jointly and severally liable for all liabilities incurred on the

account has and the services.

b) The bank is authorized to pay or deliver to, or to the order of the

survivor of the persons in whose name the account has been

opened or the Legal Personal Representative of such survivor, any

monies, securities or properties standing to the credit of the Joint

Account or held by the bank for either one or both persons.

c) Where an account is operated with a single signing authority, oral instructions

from any one of the Customers will be accepted at the Bank’s discretion and

will be binding on the other customer. If such account is operated with joint

signing

Authority, oral instructions will not be accepted from any of the joint account

holder(s) unless previously authorized by all account holders in writing.

d) That in the case of joint account, the following further provisions shall apply:

i) Each of the signatories shall be deemed to have authorized and

empowered the other (i) to endorse and deposit for credit to such

account, any and all cheques, drafts, notes or other instruments or the

payment of money, payable for purporting to belong to either or both of

the Customers and should any such instruments be received by the

Bank without being so endorsed, the Bank shall be authorized in the

absence of any instruction to the contrary, to endorse the same on the

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Customer’s behalf and deposit it to the credit of such account, and (ii)

to issue to any of the Customer’s order(s) that may be drawn

hereunder against such account.

ii) Whether or not the death of any or all of the customers shall have

intervened, the Bank may continue to act from time to time in reliance

upon any signing authority conveyed to the Bank until the Bank shall

have received notice in writing from or on behalf of any of them that it

has been terminated or revoked by operation of law or otherwise. Also

in the event of the death of any of the customers, the amount of

deposit to the credit of such account at the time of the death in

question shall belong to the survivors and may be disposed of by the

Bank as such.

e) If prior to acting on instructions received from one signatory where the

account is operated with single authority, the Bank receives contradictory

instructions from another signatory, the Bank may at its absolute discretion,

only act on the instructions of all signatories notwithstanding that any relevant

existing mandate or instructions specify otherwise.

f) In the event that the Bank receives conflicting instructions from the

signatories of a joint account, the Bank shall be entitled to suspend the

operation of the account.

4. Partnership Account

If any partner in the firm for which the account has been opened, ceases to be a

member of the said Firm by death or otherwise, the Bank is authorized, until it

receives notice in writing to the contrary from all the partners or any one of the

partners or the legal representatives of trustees of any of the partners, to treat

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the surviving or continuing partner(s) for the time being as having full powers to

carry on the business of the firm and to deal with its assets as if there had been

no change in or dissolution of the firm.

5. PLS Savings/PLS Notice/PLS Term Deposits

a) The Profit and Loss Sharing Scheme of the Bank is limited to the profit/loss of

the business of the Bank in Pakistan as bankers and the Bank alone will

decide on the use and investment of funds credit to the customer’s account.

b) Any use, investment, determination, decision or allocation of funds deposited

in PLS Savings, and PLS Notice and PLS Term Deposits Accounts will be

made in such manner and on such basis and in accordance with such

principles as the Bank may, in its absolute discretion, decide from time to

time.

6. Foreign Currency Deposits

a) Each foreign currency deposit is subject to the laws of Pakistan, including the

exchange control regulations of Pakistan in force from time to time. Under the

current exchange control regulations, the Bank may be required to sell the

deposit

for Rupees to the State Bank of Pakistan, which is bound to repay the

deposit, with the interest, in the same currency at its maturity date.

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b) The customer will enter into each foreign currency transaction with full

awareness that foreign currency transactions could involve foreign exchange

risks for which the Bank shall not be held responsible.

c) Foreign Currency deposits will be automatically renewed for like periods and

amount unless withdrawn or notified by the Bank to the account holder(s) in

writing at least 15 days in advance of the original or any renewed maturity

date(s) of its desire to terminate the account or change any of the terms and

conditions of the account. The Bank, in the case of automatic renewal, will

pay interest at the ruling rate at the time of renewal.

d) The Bank shall not be required to repay the deposit and any other accrued

interest for as long as and to the extent that the Bank cannot repay the

Deposit due to (a) The failure of the State Bank of Pakistan to make the

requisite foreign currency available; (b) an act of war, insurrection or civil

strife; (c) an action by the government or any other instrumentality of or in

Pakistan preventing such repayment or (d) any event or circumstance beyond

the Bank’s control.

e) The exclusive place o jurisdiction for any claims brought against the Bank is

the competent court in Pakistan.

f) Upon the replacement of a relevant European national currency by the Euro,

(the account) and the relevant account documents, shall continue to be in full

force and effect in accordance with the laws and regulations implemented by

European Monetary Prime.

7. Death of Account Holder

In case of demise of an individual account holder, no withdrawals shall be

allowed except on production of a Succession Certificate from a Court of

competent jurisdiction, Letter of Administration or Probate.

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8. Closing Of Accounts

a) The Bank reserves the right, at its sole discretion and with or without notice to

the Customer, to close the account, which is not being operated in a manner

satisfactory to the Bank or for any other reason whatsoever, without

disclosing the reason for closure of the said account to the customer. The

Bank also reserves the right to terminate any other type of relationship(s) e.g.

lockers, safe custody, relationship cards, etc.

b) On closure of an account, any unused cheque relating to the account must be

returned forthwith by the customer to the Bank, alternatively, it must be

confirmed to the satisfaction of the Bank in writing that the unused cheques

have been destroyed.

c) The Bank reserves the right to close any account, including but not limited to

an account that fails to maintain the required minimum balance, without

assigning any reason whatsoever for the closure.

9) Return on Accounts (Savings, Term/Call, Foreign Currency, Current)

In case of profit and loss sharing account, the amount in the account and the

profit thereon, shall be subject to the Terms and Conditions of the Bank in

force governing PLS accounts.

In case of saving or PLS Accounts, unless otherwise indicated by the Bank,

interest/profit would be applied half yearly in June and December or July

and January (as the case may be).

If the average monthly balance falls below the minimum balance requirement

for such Savings or PLS Accounts (if applicable), interest/profit will be

payable/credited to the account on the basis of minimum monthly balance

for the relevant month, or on any other basis, as maybe decided by the

Bank from time to time. Otherwise,

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Interest/profit will be payable/credited to the account on the basis of daily balance

or on any other basis as may be decided by the Bank from time to time. The

Bank also reserves the right to pay no interest to accounts not maintaining the

minimum/average balance.

No profit/interest is paid on Current Accounts.

The method of calculating any return under the profit and loss sharing

scheme is governed by the prevailing regulations/directives of the SBP

issued from time to time.

Any amount allocated as profit/loss by the Bank shall be final and binding on

all customers. No customer or any other person claiming under him shall

be entitled to question the basis of determination of such profit or loss.

The Bank reserves the right to change the rate of interest/profit without

any prior notice or advice and such altered profit/interest rate shall

immediately thereafter be binding upon the customer.

The use or maintenance of funds lying with the Bank is solely at the discretion

or judgment of the Bank. No customer or any other person claiming under

him shall be entitled to question the use or maintenance of such funds

lying with the Bank.

Interest on foreign currency savings and call deposits are normally fixed at

the beginning of each half-year but the Bank may decide to fix them on a

monthly basis. The interest rates on foreign currency term deposits

Are fixed at the rate prevailing on the day the deposit is placed or

rolled over.

Unless specified otherwise, the term deposit shall be automatically renewed

at the applicable ruling date on the date of maturity. Withdrawals of deposit

before maturity shall be at the Bank’s discretion, and shall result in forfeiture

of any or all of interest or profit-earned since the time of original or any

renewed maturity date.

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The Bank also reserves the right to apply a penal rate for the

unexpired period in case of premature encashment.

In the event that a time/call deposit matures on a day other than a business

day, then the Bank shall pay the deposit and/or the return thereon, as the

case may be, on the next business day when the Bank is open for the

Business

Early encashment of a Time Deposit will be subject to a reduced rate of return

and other charges and associated costs as determined by the Bank from

time to time.

In the absence of withdrawal or disposal instructions received by the Bank in

accordance with these terms and conditions at least two working days

before the maturity date of time deposit, such time deposit shall be

automatically rolled-over for a similar period(s) as that applicable to the

original time deposit , at prevailing rate of interest for foreign currency

deposit, or at such rate of return in case Rupee deposit as is declared by

the Bank for deposits of like period.

Foreign Currency, current or savings accounts and time deposits can be

established in U.S. Dollars, Pound Sterling, Euro, Japanese Yen and such

other currency, as the Bank shall determine, as allowed by local

regulations in force from time to time.

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10) Hold Mail Instructions

a) The customers desirous of not wanting the statements/advices and other

correspondence relating to their account(s) maintained with the Bank, to be

mailed at their given address (es) shall furnish a duly filled/signed Hold Mail

Indemnity to the Bank.

b) The Bank may in its sole discretion, upon a written request of the Customer,

provide a “Hold Mail” facility whereby the Bank shall retain for periodic

collection by the

customer or its duly authorized agent, all communications or statements of

account relating to the Customer’s Account.

c) The account holder hereby waives his right to question any detail appearing

in the “Hold Mail” communications or statements of accounts irrespective of

their actual date of receipt.

11) Dormant Accounts

a) Current/saving accounts: the customers desirous of not wanting the

statements/advices and other correspondence relating to their account(s)

maintained with the Bank, to be mailed at their given address (es) shall

furnish a duly filled/signed Hold Mail Indemnity to the Bank.

b) The Bank may in its sole discretion, upon a written request of the Customer,

provide a “Hold Mail” facility whereby the Bank shall retain for periodic

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collection by the Customer or its duly authorized agent, all communications or

statements of account relating to the Customer’s Account.

c) The account holder hereby waives his right to question any detail appearing

in the “Hold Mail” communications or statements of account irrespective of

their actual date of receipt.

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Deposit rates are given below:

Deposits

Rates (P.A)% For individuals and Corporate For Financial Institutions, NBFIs

and DFI'sPLS Saving Deposits

on Balances upto Rs.24,999/- 2.00% 1.00%

on Rs.25,000/- and above 2.00% 1.00%

PLS 7-29 Days Notice Deposits 2.00% 1.00%

PLS 30 Days Notice Deposits 2.00% 1.00%

PLS Term Deposit 1 Month 3.00% Contact us

PLS Term Deposit 3 Months 3.50% Contact us

PLS Term Deposit 6 Months 4.00% Contact us

PLS Term Deposit One Year 4.50% Contact us

PLS Term Deposit Two Year 6.00% Contact us

PLS Term Deposit Three Year 6.50% Contact us

Royal Profits

Amount Proposed Rates (P.A)%

From 50,000 To 999,9992.25%

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From 1,000,000 To 9,999,9993.00%

From 10,000,000 To 49,999,9993.50%

From 50,000,000 To 99,999,9994.00%

From 100,000,000 & AboveContact BAL

Royal Patriot  

Tenure 25,000-999,9991,000,000-4,999,999

5,000 & Above

1 Month 3.00%  3.10%  3.50%

3 Month 3.50%  3.60%  3.70%

6 Months 4.00%  4.10%  4.20%

1 Year 4.50%  4.60%  4.70%

2 Year 5.50%  5.60%  5.70%

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OUTWARD BILLS FOR COLLECTION (OBC’s)

These are outstation cheques. These are those cheques of the banks that are of

outside Lahore and are presented in BAL, LDA branch.

Procedure

The cheques and credit vouchers are stamped containing the date, OBC

number and on the backside of the cheque a stamp “payee’s account will

be credited subject to realization” is affixed.

These cheques are entered in “OBC REGISTER”. Cheque no., OBC

number, date, beneficiary’s name and account number, name of drawer’s

bank, city name and amount ate noted.

Segregation of cheques: cheques of those cities are set aside where

Bank Al Falah has its branches and other cheques are of those cities

where Bank Al Falah do not has its branches.

Procedure for those cheques where BANK AL FALAH has its branches:

Those OBC’s are sent directly to BAL branches and then those branches launch

the cheques in local clearing. Following entry is passed

Debit: sundry debtors account

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Credit: suspense account

At the time of realization

Debit: suspense account

Credit: customer account

Bank  Alfalah  provides safe deposit lockers facilities to its customers for safe keepingof their valuables like documents, securities and jewellery etc.

Important features of lockers facility are as follows:

Various sizes to choose from small to extra large: small, medium & large.Annul locker rent ranges from Rs.1,000/- to Rs.3,500/-.Locker rent is waived for customers maintaining a minimum deposit of Rs.2

million.Current account or above US $25,000/- in a current account or US $ 50,000/- in

a     savings account.

Locker Rates

The annual licensee fees of the following sizes of lockers will be as per Bank's

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Schedule of Charges, which are:

Locker SizeCharges

Small Rs.1000/-

Medium Rs.1500/-

Large  Rs.3000/-

Special Rs.3500/-

The License fees of the lockers will be payable in advance every year and no part of the same shall be refundable in any case.

 Key Deposit:    Rs.1000/-  (Refundable)

LOCKER ISSUANCE

1) Annual rent and other charges are briefed to customer and other

terms and conditions are also briefed.

2) Application form is filled with a copy of I.D card and verification

card. Client has also to fill out an undertaking-authorizing bank to

recover unpaid locker rent from his minimum balance kept under

lien.

3) Application is submitted to BOSS (branch operation & services

supervisor) for approval.

4) After approval

i. Mark lien on customer as per schedule of charges.

ii. Following entry is passed out

DEBIT: CUSTOMER ACCOUNT

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CREDIT: LOCKER RENT ACCOUNT

KEY DEPOSIT ACCOUNT

In case a customer qualifies for free rent locker only key deposit fee will be

credited only in the accounting entry.

5) One locker key is given to customer and acknowledgement is

obtained on application form.

6) Information is entered on locker register also.

LOCKER OPERATION

I. OPERATION

Only one customer can operate at a time. Signatures and in and out time is

entered in locker register. It must be confirmed that locker is locked after

transaction is completed.

II. SECURITY MEASURE

Only authorized officer is allowed to go in the strong room. Grill door will remain

close. At day end grill door is locked and it should be confirmed.

LOCKER SURRENDER

The customer submits written application for closure.

Customer signatures are verified

LOCKER BREAKING ON CUSTOMER REQUESTThe customer with the reason of lost of key submits written application.

As the locker breaking involves placement of new lock so all charges are covered

from customer and temporary replacement locker can be issued if locker is

broken on customer request.

Voucher is prepared and accounting entry is passed

DEBIT: CUSTOMER ACCOUNT

CREDIT: APPROVED AGENCY ACCOUNT

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SERVICE CHARGES ACCOUNT

KEYS

a) Master key remains with the bank.

b) Keys of unissued lockers also remain with the bank.

c) Keys for lockers issued to locker department.

REGISTERS AND FILES TO BE MAINTAINED

A register having all information is maintained.

Box files to be maintained for keeping all documents related to one particular

locker.

One box files for closed lockers is to be maintained.

Signature verification cards are also maintained.

List of key deposits that are exempted is also maintained.

CUSTOMER RELATIONSHIP MANAGEMENT

DEPARTMENT

Responsibilities of CRM include

Greeting and Dealing with customers

Solving problems of the customers

Guiding the customers

Preparation and Maintenance of reports such as

Service meeting report

System down time report

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Circulars report

Mystery shopping report

Customer’s Complaint report

CONSUMER PRODUCTS

OF

BANK AL FALAH

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Bank Alfalah Limited is offering a wide range of consumer products to its valued

customers. Bank Alfalah Limited is catering different market niches with different

categories of products designed for different kind of customers.

At the moment Bank Alfalah Limited is dealing in following fields:

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Credit cards

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Your Bank Alfalah Visa Card is your partner everywhere and is globally accepted and welcomed at locations displaying the VISA logo. It is accepted at nearly 30 million merchants and 870,000 ATMs in more than 150 countries around the globe and over 10,000 establishments in Pakistan.

Alfalah VISA lets you pay for shopping, travel, entertainment, meals and much more. Cardmembers are facilitated through a number of promotions from time to time like Matchless Discounts (discounts at nationwide merchants’ outlets, making each shopping spree an exciting one), Dine’a’ Discount (the best discounts at a wide range of selective restaurants) , Fortunes Rewards Program (exchange of fortune points against an array of attractive products and services), etc. In addition, there are a number of strategic business partnerships with leading local and international brands for purchase of home

47

appliances at exciting Step-BY-Step (SBS) monthly installment plan with free home delivery at lowest interest rates.

No Joining Fee Join Alfalah VISA without paying any joining fee. Start enjoying your free card from the  moment you get hold of it.  No Annual / Renewal Fee Alfalah VISA is the only credit card in Pakistan with no annual or renewal fee, so benefit from your card without worrying about any renewal fee.

• Lowest Markup Only Bank Alfalah gives you the unmatched feature of the lowest mark up of 2.25% per month.  

• Balance Transfer Facility Bank Alfalah offers balance transfer facility to all its Cardmembers - the easy and convenient way to settle unsettled credit card payments on all existing credit cards in Pakistan. As an Alfalah VISA Cardmember you can avail balance transfer facility at a  low rate of only 1.50% per month (for initial six months), which happens to be the lowest in Pakistan. The balance transfer facility can only be availed only if the total outstanding balance does not exceed beyond the credit limit assigned by Bank Alfalah for Alfalah VISA card. Avail balance transfer facility by filling out our Balance Transfer Facility Form. Print the form, fill out all the fields, sign it and send it to us through courier.         OR Drop it in at  any of Bank Alfalah drop boxes available in all Bank Alfalah Branches.  

• Global Acceptability Your Bank Alfalah VISA card is your partner everywhere and is globally accepted and welcomed at locations displaying the VISA logo. It is accepted at nearly 24 million locations in more than 130 countries around the globe and at over 10,000 establishments in Pakistan.  

• Cash Advance Facility 75% Of Credit LimitNow you can avail Cash Advance Facility up to 75% of your available credit limit. Enjoy the benefits of this exculsive offer on your Bank Alfalah Credit Cards. You can get cash from Alfalah ATMs or cash counters of Bank Alfalah branches and other VISA member banks in Pakistan.  

• Revolving Credit With Alfalah Visa you have the option of paying only 5% (minimum Rs. 500/-) of your 

48

outstanding balance by the payment due date. Service charges at the rate of 2.25%  per  month will be levied on the balance unpaid and carried forward. These charges are calculated on a daily basis from the transaction date for all cash and retail transactions.  The following month you have the option of either the full amount payment or if you wish, pay only the minimum amount due and revolve again.  

• Free Supplementary Cards

Gift your family members with exclusive Alfalah VISA supplementary cards and let them also enjoy the privileges of Alfalah VISA. Only Alfalah VISA gives you the unique feature  of having up to six free supplementary cards for anyone you care for.  All supplementary Cardmembers share your credit limit. All charges incurred on the supplementary cards will  be reported on your monthly statement.

• Card Expiry Period

Effective 7 June 2005, all VISA Credit cards being issued by our card division will have an expiry of 3 years on them.

•Zero Loss Liability

Bank Alfalah ensures you have complete peace of mind even if you loose your card. You are covered for all fraudulent charges made on your card after it has been reported lost to us. Just make sure that you report the loss immediately upon discovery with Alfalah VISA, you are completely secure against loss or theft.

 • All Billing in Pak Rupees

Whether you make transactions in Dollars or any other currency, for your convenience, all your billing will be in PAK Rupees.  

• Comprehensive Travel Protection Alfalah VISA offers a comprehensive cover up to Rs. 7.0 Million on Alfalah VISA Gold Card in case of an accident, while traveling on any common carrier. It is applicable only if the tickets are charged through Alfalah VISA card.  The details are given as follows:

Limits of Indemnity: Rs. 7,000,000 = For Gold Card Holders Rs. 3,500,000 = For Classic, Classic Blue and Women Exclusive Cards

Coverage: Personal accidents travel insurance for card holders during travel only, if ticket is bought using the card, as per benefits listed below.

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Death: 100%Special Exclusion: This policy will not cover any claim due to death or permanent

injury unless the same is caused due to any accident of the carrying vessel/vehicle.

Geographical Limit: World Wide

Permanent Disablement Permanent total loss of both eyes or two limbs:               100% Permanent total loss of one eye and one limb:                   75% Permanent total loss of one eye or one limb:                     50% Permanent total loss of one finger or thumb or toe:            10%  

Utility bill Payments Now Utility bill payments* can be made through Alfalah VISA credit cards either by calling Call Centre or through Direct Debit instructions. *Available on SSGC & PTCL. Other companies shortly to be signed.

Step By Step Plan Now you can convert any transaction amount of your choice to a Step-By-Step payment plan. It gives you the flexibility to convert your large payments into small equal monthly installments.

What Transaction can I Transfer to SBS?• Retail Transactions (Domestic & International)• Cash Transactions (Domestic & International)

•Balance Transfer Transactions (@ 0.99% p.m. if applied within 10 days of BTF transaction)

How Can I Apply?It is a simple three-step process:

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1 Fill in this form and send it to Alfalah Credit Card Centre, 8-Ali block, New Garden Town, Lahore or drop it into any drop box available at all Bank Alfalah branches (required only at the time of first transaction).

2 Call at 111-225-786 and book the transaction under SBS.

3 For normal SBS choose from 3, 6, 12, 18, 24, 30, 36 months affordable payment plans. And for BTF to SBS choose from 6, 9, 12, 18, 24, 30, 36 months plans.

Calculation:Calculate your monthly installment at only 14.99% p.a. by simply multiplying (*) the factor given below with the transaction amount. For BTF conversion to SBS calculate monthly installment at only 11.88% p.a. by multiplying (*) the factor given below with the transaction amount.

Example:On a transaction amount of Rs. 6,000/- the installment for 36 months is Rs. 241.62 p.m. (i.e. 6000 x 0.04027). For BTF transactions, monthly installment for same amount will be Rs. 226.20 p.m. (i.e. 6000x0.0377) if applied within 10 days of BTF transaction.

PaymentsPlan

Normal SBSBTF conversion to SBS

Factor*@

1.25%

Monthly Installment

(Rs.)

Factor* @ 0.99%

Monthly Installment

(Rs.)

03 months

0.34583 2,074.98 N/A N/A

06 months

0.17916 1,074.96 0.1766 1,059.60

09 months

N/A/ N/A 0.1210 726.00

12 months

0.09582 573.72 0.0932 559.20

18 months

0.06805 408.30 0.0655 393.00

24 months

0.05416 324.96 0.0516 309.60

30 months

0.04582 274.92 0.0432 259.20

36 months

0.04027 241.62 0.0377 226.20

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Gold and silver package:A perfect card combination for all segments of salaried & professional individuals

Classic blue package: As a Classic Blue Cardholder you have a privilege of having access to all features of Alfalah VISA Credit Cards including one free supplementary card.

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A Card Exclusively for Women.Now for the first time in Pakistan, Bank Alfalah has introduced a credit card exclusively for women. This card has its unique features, which have been Tailor-made for the women in Pakistan.

For the first time in Pakistan, Bank Alfalah introduces a credit card for Students. This card is for you if you are enrolled in a professional university (as per Bank Alfalah’s approved list) with 15 years of schooling experience.

Now you can pay your fee, buy books or just with Alfalah VISA... :-) Not only this but you will also earn reward points and can redeem them for a TV, Mobile Phone, CD player & DVDs etc.

Requirements

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1- The applicant must be a graduate with 14 years of schooling and must be currently enrolled in a professional college/University.

Lahore  •   Fatima Jinnah Medical College   •   Lahore University of Management and Science (LUMS)   •   FAST University   •   King Edward Medical College   •   Punjab University- IBA   •   National College of Arts (NCA)

  •   Lahore Medical College

2-Clear Copy of NIC/ “B” Form.

3-Clear Copy of Fathers/Guardian's NIC.

4-Father's/Guardian's sign as Guarantor.

5-Minimum age should not be less than 17 years.

6-Copy of Result Card of 1st year of professional education or equivalent semesters/terms.

7-Copy of Last Fee Deposit Slip in the current institution.

8-College/University roll number, section & department.

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Car finance

56

BENEFITS AND FEATURES

  Quickest processing 

  No hidden charges

  Minimum down payment 

  Complete repayment at any point of time

  Balance transfer facility {BTF} for existing as well as new clients from other Banks 

  Tenure period ranging from 1 to 5 years.

  Financing of all brand new locally assembled vehicles and used cars.

  Financing limit ranging b/w Rs. 200,000/- to Rs. 2000,000/- for brand new cars

CORPORATE & INDIVIDUAL CAR LEASINGBAL’s recently introduced car leasing facility for individuals and corporate sector has set new dimensions for the product. Now you are provided with the option of either to get the vehicle leased or financed.

INSURANCERenowned and reliable Insurance companies are offering the competitive rates of Insurance. Pay year insurance premium in advance { at the time of down payment } and remaining in the subsequent equal monthly installment.

HOW MUCH EXTRA MONEY BEING PAID? {MARK-UP}Bank Alfalah's mark-up rates are as follows :

 Pak Suzuki Cars     11.9 %

 All other local assembled Cars  12.9 %

 Imported Cars  12.9 %

REPAYMENTSEasily affordable installments on monthly basis in the form of postdated cheques will set you free of depositing your rental cheques every month.

SECURITYHypothecation of vehicle in the name of the Bank Alfalah Limited.

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YOU CAN ACT AS A CO BORROWERActing as a co borrower, will enables your family members {spouse, children- 18 year and above} to avail the financing facility and can get the car registered in their names as well.

DOCUMENTS REQUIRED

Two passport size photographs.

Copy of National ID card.

Bank statement for the last six months.

Salary certificate {for salaried individual}.

Business proof {for a business person}.

N.T.N Certificate.

Co borrower’s NIC copy {if the car is to be in the name of the co- borrower}.

Eligibility

Yes you get a car loan form bank Alfalah to purchase a brand new car if you are:

Pakistani National Identity Card holder.

Over 20 years of age (Maximum 60 years in case of salaried and 62 in case of a     business person at the time of maturity of the loan).

Salaried , Businessman or self employed .

Following is the list of cars available for financing :

Car Name Price

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LANCER GLA AT(1.6) -Imported 1389000

LANCER GLX AT SR -Imported 1439000

KALAM (HR) 415000

KALASH (SC) 292000

GILGIT(DC) 360000

SUZUKI MEHRAN VX Non-Metalic 315000

SUZUKI MEHRAN VX (CNG) Non-Metalic 345000

SUZUKI MEHRAN VX (Stand) Metalic 320000

SUZUKI MEHRAN VX(CNG) Metalic 350000

SUZUKI MEHRAN VXR Non-Metalic 360000

SUZUKI MEHRAN VXR (CNG) Non-Metalic 390000

SUZUKI MEHRAN VXR Metalic A/C 365000

SUZUKI MEHRAN VXR (CNG) (A/C) Metalic 395000

SUZUKI ALTO-VX Non-Metalic 419000

SUZUKI ALTO-VX (CNG) Non-Metalic 454000

SUZUKI ALTO-VX (Stand) Metalic 424000

SUZUKI ALTO-VX (CNG) Metalic 459000

SUZUKI ALTO-VXR Non-Metalic 464000

SUZUKI ALTO-VXR (CNG) Non-Metalic 499000

SUZUKI ALTO-VXR (A/C) Metalic 469000

SUZUKI ALTO-VXR (CNG) (A/C) Metalic 504000

SUZUKI CULTUS-VX (Stand) Non-Metalic 504000

SUZUKI CULTUS-VX (Stand) Metalic 509000

SUZUKI CULTUS-VXR (A/C) Non-Metalic 555000

SUZUKI CULTUS-VXR (A/C) Metalic 560000

SUZUKI CULTUS-VXR (CNG) (A/C) Non-Metalic 590000

SUZUKI CULTUS-VXR (CNG) (A/C) Metalic 595000

SUZUKI CULTUS-VXL (A/C) Non-Metalic 604000

SUZUKI CULTUS-VXL (A/C) Metalic 609000

SUZUKI CULTUS-VXL SPORTS Non-Metalic 628000

SUZUKI CULTUS-VXL SPORTS (CNG) Non-Metalic 658000

SUZUKI CULTUS-VXL SPORTS (CNG) Metalic 658000

SUZUKI CULTUS-VXL SPORTS (CNG) Metalic 663000

SUZUKI BOLAN (Stand) Non-Metalic 367000

SUZUKI BOLAN (CNG) Metalic 404000

SUZUKI BOLAN (A/C) Non-Metalic 427000

SUZUKI BOLAN(A/C) (CNG) Metalic 461000

SUZUKI RAVI Non-Metalic 312000

SUZUKI RAVI (CNG) Metalic 344000

59

SUZUKI BALENO-JXR Non-Metalic 749000

SUZUKI BALENO-JXR (CNG) Metalic 789000

SUZUKI BALENO-JXL Non-Metalic 809000

SUZUKI BALENO-JXL (CNG) Metalic 849000

SUZUKI BALENO (JXR) (SPORT) Non Metalic 769000

SUZUKI BALENO (CNG) (SPORT) 819000

SUZUKI POTOHAR (Stand) (1000 CC) 618000

SUZUKI POTOHAR (A/C) (1000 CC) 678000

HONDA CITY EXIS MT (1300 CC) 835000

HONDA CITY VARIO (AT) (1300 CC) 885000

HYUNDAI SPOTAGE (1300-CC) 1549000

HYUNDAI SHAHZORE (2600-CC) 649000

HYUNDAI SANTRO GV (CNG)(1000-CC) 609000

HYUNDAI SANTRO (CLUB) 559000

HYUNDAI SANTRO AT (executive) 629000

NISSAN SUNNY MT EX SALOON (1.3 CC) -Imported 1125000

NISSAN SUNNY AT EX SALOON (1.3-CC) -Imported 1185000

NISSAN SUNNY MT EX SALOON(1.6-CC) -Imported 1365000

NISSAN SUNNY AT EX SALOON(1.6-CC) -Imported 1450000

NISSAN SUNNY AT SUPER SALOON-Imported 1533000

TOYOTA COROLLA S.E SALOON MT(1587-CC) 1109000

TOYOTA COROLLA S.E SALOON AUTO(1588-CC) 1209000

TOYOTA COROLLA 2.OD (1975-CC) 1039000

TOYOTA COROLLA 2.0D SALOON (1300CC) 1229000

TOYOTA COROLLA XLI (1300-CC) 879000

TOYOTA COROLLA GLI (1300-CC) 969000

DIAHATSU CUORE CL (850-CC) 359000

DIAHATSU CUORE CX (850-CC) 419000

DIAHATSU CUORE CNG (STD) 384000

DIAHATSU CUORE CNG (AC) 459000

DIAHATSU CUORE AT (850-CC) 459000

HONDA CIVIC VTI Exi MT (1493-CC) 1002000

HONDA CIVIC Exi AT (1493-cc) 1042000

HONDA CIVIC VTI MT hard top (1590-CC) 1147000

HONDA CIVIC VTI Mt Oriel (1590-CC) 1197000

HONDA CIVIC VTI Auto hard top (1590-CC) 1237000

HONDA CIVIC VTI PT Orial UG (1590-CC) 1287000

HONDA CITY (EXIS-MT)(1300-CC) 835000

HONDA CITY VARIO (AT) (1300-CC) 885000

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ROMA FV (AC) (1000-CC) 449000

MASTER FORLAND W/O DECK 532000

MASTER ECNO W/O DECK 764000

MASTER GRANDE W/O DECK 840000

MASTER FORLAND W/O DECK 547000

MASTER ECNO (NJ-1062) 799000

MASTER GRANDE (YL-4IT) 875000

CHEVROLET EXCLUSIVE LS - Imported 555000

CHEVROLET EXCLUSIVE STD - Imported 515000

CHEVROLET OPTRA AT- Imported 1269000

CHEVROLET OPTRA MT- Imported 1175000

CHEVROLET OPTRA-SE MT- Imported 1095000

LANCER GL MT(1.3) -Imported 1029000

LANCER GLX MT(1.3) -Imported 1099000

LANCER GLX AT(1.3) -Imported 1149000

LANCER GL MT(1.6) -Imported 1289000

LANCER GLX MT SR -Imported 1339000

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Home Finance

62

The Eligibility Criteria 

You may apply for Bank Alfalah Home Finance,

 If you are a Pakistani National.

   If your age is between 25 and 65 years.

   If you are in continuous employment in a permanent position for the last 2 years or more.

OR

   If you have existing 3 years (or more) of business or professional experience.

   If your gross annual income is Rs: 200,000/ — or more [Your spouse’s income (up to 50%) can also be combined with yours].

   If you require a financing of at least Rs: 500,000/- or more (maximum Rs: 10,000,000/-).

   If you have been a Bank Alfalah borrower for past one year with clean payment record. 

You may apply for Bank Alfalah Home Finance for minimum period of 3 years and a maximum period of 20 years ( subject to your present age ).

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1. We provide you with all the information you need about Bank Alfalah Home Finance. This can be through a face-to-face meeting with our Relationship Officer, or over the telephone, or through the post.

2. You give us some basic information about your income and the amount you need so that we can give you an agreement in principle.

3. Once you have decided on the amount you want, you complete an application form and pass it on to us, together with the required documents.

4. We make some inquiries about your financial circumstances.

5. We carryout a valuation of the property and verification of your income

6. Once we have carried out all the initial processing, we send you our offer through a “Facility Advice Letter”. 

7. You sign the Facility Advice Letter and return it to us.

8. Our Documentation Control Centre will get in touch with you to complete Finance & Security documentation including legal opinion on the title documents of the property and also the insurances.

9. You sign the Finance Agreement and Charge documents.

10. Our legal advisor will accompany you to the Registrar’s office on the appointed date with our cheque against the financing for conveyance of the property and your home finance begins.

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"Alfalah Phone Banking” is available to all customers on a countrywide basis. Customers can dial 111-225-111 (without any city code/prefix) from their respective cities i.e. 21 cities where Bank Alfalah is present, and get prompt services from the Centralized Phone Banking Services. 

Customers enjoy 24x7 Round the Clock Phone Banking Services. 

Bank Alfalah is the first bank in Pakistan to offer Centralized UAN connectivity from 21 cities to its Call Centre with Hunting & ACD facilities. 

The services offered by Alfalah Phone Banking include:

CARDS

Card activation Transaction Details

Card ATM PIN re-issuance Lost / Stolen request

Lost / Stolen request Statement Request

Financial/Service Charges breakup Billing address Change request 

Replacement card request  Credit Balance Inquiry

Reward points inquiry Card Criteria Information

New Application status Credit Cover Information

Credit Limit Enhancement Card BTF 

Merchant related queries Authorization issues 

Card dispute request Complaints

Rupee Travelers Cheques (RTCs)

Procedures for lost and stolen RTCs 

Information of branches

Issuance/encashment procedure  

Other Services

Product information Account Opening procedure

Deposit interest rates Lockers

Car Financing Money Gram

Consumer Durables Financing  

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Bank Alfalah now offers the facility of on-line banking to its customers through its country wide network of branches. Customers can use the ATMs or the banking counters of any branch for day-to-day banking needs, irrespective of branch where they maintain their accounts.

For Corporate customers centralized Cash Management facility is also offered through on-line banking.

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Bank Alfalah through its commitment to provide superior and improved services to its valued customers, has unveiled a nationwide network of ATMs. For your convenience, you now have access to instantaneous cash availability, 24 hours a day, 7 days a week.

Our ATM network is geared up to exploit the latest technology, and is equipped to meet the highest standards of security and efficiency.

With your new Hilal Card card you can now:

Withdraw CashUse our convenient, user-friendly fastcash optionMake a Balance Inquiry.Get an instant printout of your account balancesGet a printout of your last transactions (Mini-statement) on the spot.Change your PIN (Personal Identification Number).

Bank Alfalah is pleased to introduce 53 state of the art ATMs, deployed at the most convenient and accessible locations. Bank Alfalah is a founder member of the 1-Link Switch, thus making a countrywide network of ATMs available.

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BENEFITS PROVIDED TO THE EMPLOYES

BANK AL FALAH considers its employees as a ladder of its success. It takes care of their employee that is why employees also work hard and it is clear that now its profitability is increasing.

APPROVED PROVIDENT FUND SCHEMEBank Al Falah is operating an approved provident fund scheme for all its

permanent employees. Equal monthly contributions are made, both by the bank

and its employees, to the fund @8.33% of the basic salary of the employees.

MEDICAL ALLOWANCEThe bank also provides medical allowance to its permanent employees. It is

given on reimbursement basis.

Rs. 20,000 p.a is given in case of married employees but having no children.

Rs.30, 000 p.a is given in case of married employees having kids also.

Rs. 10,000 p.a allowance is given in case of unmarried employees.

3 basic salaries are provided in case of hospitalization and if employee

himself or any of his spouse, kids and his widow mother is hospitalized.

APPROVED FUNDED GRATUITY SCHEMEBank Al Falah operates an approved funded gratuity scheme for all its permanent

employees. Contributions are made in accordance with the actuarial

recommendations. Projected Unit Credit Method has been used for actuarial

valuation. The bank was previously using EAN Funding Method for valuation of

its gratuity scheme. At 31 December 2001, the valuation was carried out using

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the Projected Unit Credit Method in line with the requirements of International

Accounting Standard 19, Employees Benefit.

Provision is made annually to cover obligation under the scheme. Gratuity

accruing to staff is equal to one basic salary for each year completed of service.

Payment of gratuity is as follows:

Where Completed Year Of Service are:

Less than three years nil

Three years 60% of gratuity amount

Four years 80% of gratuity amount

Five years 100% of gratuity amount

In case of death, payment of gratuity is

Based on completed years of service 100% of gratuity amount

BONUSES

Bonuses are also given to permanent employees on their performance basis.

In case of very good performance 2 basic salaries are given and in any other

case 1 basic salary is provided as bonus.

ENTERTAINMENT FACILITYTea and coffee facility is provided to employees during office time and it is free of

cost.

CASH REWARDS

The employees who perform well are given cash reward and it depends on the

discretion of management. Certain targets are given to employees I they achieve

those cash rewards are granted.

STAFF LOANS

CLEAN LOAN

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Clean loans are also provided to permanent employees by the BANK AL FALAH

LIMITED. Three basic salaries are provided as loan and it is for a period of three

years. So loan is payable in 36 equal installments including markup. Markup is

calculated according to the

formula. When an employee adjusts this loan then after 2 months of this loan

repayment employee again becomes eligible for clean loan.

HOUSE BUILDING LOAN

This loan is also provided to permanent employees. The amount of this loan

should be repaid in 25 years because retirement limit is 60 years. The rate of

markup is 3% and loan amount is also insured by bank so it proves to be a big

facilities and relief for the dependents of the deceased employee.

CONVEYANCE OR TRANSPORT LOAN

This loan is also provided to permanent employees by BANK AL FALAH

LIMITED. The loan amount should be repaid in 7 years or in 84 equal

installments and markup is 4% in case of loan for car and in case of loan for

motorbike markup rate is 5%.

Total installments after aggregating all the loan installments should not exceed

33% of the employee’s take home salary.

LEAVE FAIR ASSISTANCES AND ITS TYPES

3 types of LFA are

CASUAL LEAVES 4 leaves are allowed to permanent employees.

SICK LEAVES 12 leaves are allowed to permanent employees.

PRIVILEGE LEAVES 15-30 leaves are allowed to permanent employees.

Employee entitlements to annual leave are recognized when they accrue to

employees. A provision is made for estimated liability for annual leave as a

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result of Services rendered by the employee against un-availed leaves up to

the date of balance sheet.

MANAGERIAL POLICIES

1) RECRUITMENT POLICY

For recruitment or selection of employees following ways are adopted:

Through advertisement in newspapers: like other banks Bank Al Falah

does not follow this policy. It does not advertise its vacancies in

newspapers. It mostly recruits people on reference basis. It goes for

reference in order to decrease the chances of fraud.

Sometimes prospective candidates submit their resume and photocopy of

their documents although the bank has advertised no vacancy. Then bank

considers these applications if any vacancy is vacant then out of those

prospective candidates recruitment is done.

2) LENDING POLICY

While providing lending services Bank Al Falah follows Prudential Regulations

issued by State Bank Of Pakistan

Bank Al Falah does not provide financing facility in any form of a sum

exceeding Rs. 100,000/- to any one individual or person without obtaining

realizable securities of the value not below the outstanding amount.

While granting any accommodation Bank Al Falah ensures that the total

accommodation availed by any borrower from Banks does not exceed 10

times of the capital and reserves of the borrower as disclosed in its audited

accounts.

Fresh/ additional accommodation in the form of long-term debts is provided

on the basis of a debt equity ration not exceeding 60:40.

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When considering proposals for fund based/ non-fund based accommodation

BAL gives due weightage to credit report relating to the borrower and his

group obtained from Credit Information Department of the State Bank.

The total outstanding financing facilities by Bank Al Falah to any single

person do not at any point of time exceed 30% of BAL’s unimpaired capital

and reserves subject to the condition that the maximum outstanding against

fund based financing facilities do not exceed 20% of the unimpaired capital

and reserves.

Counteragent liabilities of Bank Al Falah do not exceed at any point of time 10

times of its paid up capital and general reserves.

Bank Al Falah provides financing to exporters State Bank of Pakistan

provides loan for export finance. Bank Al Falah prefers to finance exporters,

as in this type of financing its own money is not involved. It also decreases

the risk of Bank Al Falah.

Bank Al Falah also prefers non-fund based financing i.e. Letter of Credit,

Letter of guarantee etc. because in this type of financing Bank’s money is not

involved, except in case of default of client, and it earns commission on this

facility. Also in case of non-fund based financing risk in low.

While making lending decisions employees of Bank Al Falah make 5C’s

analysis i.e. they consider following factors:

1. Character

2. Capacity

3. Capital

4. Condition

5. Collateral

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3) STAFF DEVELPOMENT POLICY

Employees are key of success for any organization and their training is also

necessary in order to compete with other banks. Bank Al Falah is not paying so

much attention towards employees training.

INTERNSHIP ACTIVITIES

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During my internship I worked in different departments. Some times I enjoyed

and some time I felt bored and tensed during working in bank but with the

passage of time and with the help of almighty ALLAH I worked with full devotion

and dedication for the better future of my self and COMSATS as well.

I worked in following departments:

Outstation bills for collection department

Foreign currency accounts

Marketing department

Account opening

Trade finance

Car finance

Accounts

Fixed deposits

In these departments I got the opportunity to see the real banking and

working style of the people in professional life.

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ACCOUNTS DEPARTMENT

Bank Alfalah Limited has computerized system but still accounts department is

considered as backbone for the bank. In this department almost all the work

performed by the other departments is checked so that errors and omissions are

easily detected.

WORK I PERFORMED IN ACCOUNTS DEPARTMENT

I spent one week in this department. It provided me the opportunity

to practically observe that how accounts department works and why

is it so important. For the whole week I did the following work.

Checking Of Activity

Activity is actually the printed computerized and detail of the whole work

performed by the other departments. As each and every department is

computerized so they enter their entries in computer and then a detailed printed

sheet of all those transactions is received in accounts department and then

during my stay in the accounts department I was given this duty to check this

activity.

I was given activity along with all the documents whose entries were

recorded in the activity.

First of all I have to scrutinize all the jackets and I had to keep some

criteria in my mind while checking those vouchers.

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CLEARING DEPARTMENT

INWARD CLEARINGInward clearing means those Cheques of Bank Al Falah LDA PLAZA branch that

are presented in other banks. Those cheques are sent to BAL LDA PLAZA

branch for clearing, this is known as “inward clearing”.

Now NIFT (national institutional facilitation technologies) performs this function.

This institution is functioning as clearing agent for banks and is facilitating their

work. Before NIFT State Bank Of Pakistan performed this function.

Work I performed for INWARD CLEARINGDuring my stay I was given the opportunity of learning how this department

works.

BAL, LDA PLAZA branch, receives its cheques through NIFT, which were

presented in some other bank. After receiving all the cheques FOR INWARD

CLEARING I followed certain steps for its scrutiny.

First of all I checked that cheques contain

a) Date: cheque was neither post dated nor stale.

b) Amount: amount in words and figure was same.

There was no cutting and overwriting and in case of overwriting and cutting

counter signature of customer was present.

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