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Internship Report

Internee Name Ayman Khalid

Duration Six Weeks

Satellite Town Branch Sargodha

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Acknowledgement

My First and foremost gratitude to “ALLAH” the Almighty for giving me the valor to remain

dedicated to make this internship report. Apart from it I take the opportunity to acknowledge the

real efforts of:

First I would like to thank my University: UNIVERSITY OF SARGODHA for the valuable

support and encouragement which it has given to me in the form of this internship program.

Secondly I am very grateful to Mr. Qamar Shehzad, Branch Manager Meezan Bank Satellite

Town Sargodha for giving me the opportunity to be a part of this organization and to Mr. Qasim,

Manager Operations for being so helpful and cooperative throughout my internship program.

Likewise I would like to thanks entire team of Meezan Bank Satellite town Sargodha for their

support and provision of valuable information which helped me a lot during my internship and in

completion of this report.

A BIG THANK YOU to my beloved parents who encouraged me to complete this internship in a

benefitting manner…….

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TABLE OF CONTENTS

1 Executive Summary

Pg 2-3

2 Introduction to Meezan Bank Limited

Pg 4-7

2.1 Shariah board

Pg 5

2.2 Board of directors

Pg 5

2.3 Branch network

Pg 6

2.4 Achievements

Pg 6

2.4 Vision

Pg 6

2.5 Mission

Pg 6

2.6 Objective

Pg 7

3 Introduction To all departments

Pg 7-9

4 Organization Hierarchy Chart

Pg 9-10

5 My Learnings

Pg 11—26

5.1 Introduction to Satellite town Branch

Pg 11

5.2 Internship Duration

Pg 11

5.3 Training Program

Pg 12-26

6 Ratio Analysis

Pg 26-29

7 Suggestions

Pg 30-31

8 Bibliography

Pg 32

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Executive summary:

Internship is an integral part of our MBA program, it provided me the opportunity to develop

practical no how of concepts which are studied only in theoretical form. My internship in

Meezan Bank Limited was full of learning regarding various aspects of banking .the report

contain practical knowledge which I gained during my stay at Meezan Bank Limited.

Meezan Bank Limited is the pioneer Islamic Bank in Pakistan and it has bright future forward.

Meezan Bank limited is the publically listed company first incorporated on January 27. 1997.

The bank has an internationally renowned very high caliber and pro-active Shariah Supervisory

Board.

I did my six week internship in Meezan Bank, Satellite town branch Sargodha. During my

internship I was rotated in different Departments.

The work I did during my internship in Meezan Bank primarily includes checking account

opening, pre-requisites, filling account opening forms, maintain inward mail registers, assisting

the cheque book issuance Department, know-how about the lockers available, analyzing inward

and outward clearing and the rules relating to them .

One of the strongest reasons for selecting Meezan Bank is after the Quranic Word “AL-

MEEZAN” which means “BALANCE”. Second most important thing that influenced me for

the selection of that bank was that it has the privilege of being premiere Islamic Bank in Pakistan

which is why it is the market leader among all the Islamic Banks.

Banking sector owes a pivotal importance in the economy of any country through its variant

functions. This basic motivator stressed me to join for Meezan Bank internship training.

Moreover, the experience and practice learned during this tenure also proved very helpful and

facilitating in the forth coming professional life.

During my internship program I have discovered many of the courses, I studied at University Of

Sargodha were relevant to the work, I have done during my internship in Meezan Bank. Chief

ones are financial management, banking practice and law, and banking operations.

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The main problem Identified during my internship period was excessive documentations as per

the policies making it extremely very difficult for the customer to avail their desire services and

more crucial one was the lack of motivation at work place.

Some of the suggestions in the report were Meezan Bank Limited will pursue aggressive

marketing in advertising strategy and making policies to increase employee motivation level.

All information in this report is based on my observation, interviews with the customer, and the

branch officers and practical involvement in different task during my internship at Meezan Bank.

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INTRODUCTION TO MEEZAN BANK LTD

Meezan Bank Limited (MBL) (the holding company) was incorporated in Pakistan on January

27, 1997 as a public listed company under the companies‟ ordinance, 1984 and its share quoted

in Karachi stock exchange. MBL was registered as an „Investment financing company on August

8, 1997 and carried on the business of investment banking as permitted under SRO 585(I)/87

dated July 13, 1987 in accordance and in conformity with the principle of Islamic shariah . A

certificate of commencement of business was issued to MBL on September 29, 1997.

MBL was granted a „Scheduled Islamic commercial bank‟ license on January 31, 2002 and

formally commenced operations as a scheduled Islamic Commercial Bank With effect from

March 20, 2002 on receiving notification in this regard from State Bank of Pakistan (SBP) under

section 37 of the Statement Bank of Pakistan Act, 1956.

Meezan Bank Limited has 323 branches in 84 cities across Pakistan and it became the 8th

largest Bank in Pakistan in terms of branch network.

Meezan Bank Limited being an Islamic Bank offering its products to its customers strictly in

accordance with the SHARIAH COMPLIANCE. It is doing business in Corporate Banking,

Commercial Banking, Consumer Banking, retail Banking, Investment Banking keeping in view

the all norms and standards of Islamic injunction.

Meezan Bank stands today at a noteworthy point along the evolution of Islamic Banking in

Pakistan. The banking sector is showing a significant paradigm shift away from traditional

means of business and is catering to an increasingly astute and demanding financial consumer

who is also becoming keenly aware of Islamic Banking. Meezan Bank bears the critical

responsibility of leading the way forward in establishing a stable and dynamic Islamic Banking

system replete with dynamic and cutting-edge products and services.

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The Bank has made fundamental and significant progress forward, and in doing so has

established a strong and credible management team comprised of experienced professionals,

which have achieved a strong balance sheet with excellent operating profitability, including a

capital adequacy ratio that places the Bank at the top of the industry, a long-term entity rating of

A+, and a short-term entity rating of A1+, the highest short-term rating.

SHARIAH BOARD:

The members of the Shariah Board of Meezan Bank are Internationally-renown scholars, serving

on the boards of many Islamic banks operating in different countries.

The members of the Shariah Board are:

Justice (Retd.) Muhammad Taqi Usmani

Dr. Abdul Sattar Abu Ghuddah

Sheikh Essam M. Ishaq

Dr. Muhammad Imran Ashraf Usmani - Shariah Advisor

BOARD OF DIRECTORS:

H. E. Sheikh Ebrahim Bin Khalifa Al-Khalifa (Chairman)

(Undersecretary, Ministry of Finance & National Economy,Kingdom of Bahrain)

Naser Abdul Mohsen Al-Marri (Vice Chairman)

Irfan Siddiqui (President & Chief Executive Officer)

Istaqbal Mehdi

Mohammed Abdul-Rehman Hussain

Nawid Ahsan

Ariful Islam (Chief Operating Officer)

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Rana Ahmed Humayun

Mohammed Azzaroog Rajab

Ahmed Abdul Rahim Mohamed

BRANCH NETWORK:

Meezan Bank Limited has 323 branches in 90 cities across Pakistan and it became the 8th largest

Bank in Pakistan in terms of branch network.

ACHIEVEMENTS:

Meezan Bank has reaffirmed its entity ratings at A+ for medium to long-term and A1+ for short-

term. This rating was made by JCR-VIS Credit Rating Company, which has also set Meezan

Bank‟s outlook on medium to long-term rating as “Stable”. The rating is yet another milestone

achievement in the Bank‟s endeavor to be the Bank.

Meezan Bank‟s ratings are based on its shareholding with world-renowned financial institutions,

pioneering role in the industry, strong management initiatives in continuously introducing

various range of Islamic products. The Credit Rating agency JCR-VIS has expressed

commendation to Meezan Bank management‟s ability to deploy funds in core banking assets,

which reflected healthy growth trends last year.

VISION STATEMENT

“Islamic banking as banking of first choice to facilitate the implementation of an equitable

economic system, providing a strong foundation for establishing a fair and just society for

mankind”

MISSION STATEMENT

“To be a premier Islamic bank, offering a one-stop shop for innovative value added products and

services to our customers within the bounds of Shariah, while optimizing the stakeholders value

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through an organizational culture based on learning, fairness, respect for individual enterprise

and performance”

SERVICE QUALITY MISSION

“To develop a committed service culture which ensures the consistent delivery of our products

and services within the highest quality service parameters, promoting Islamic values and

ensuring recognition and a quality banking experience to our customers”

OBJECTIVE:

“To develop a committed service culture which ensures the consistent delivery of our

products and services within the highest quality service parameters, promoting Islamic

values and ensuring recognition and a quality banking experience to our customers”

INTRODUCTION TO ALL DEPARTMENTS:

Meezan Bank Limited has been divided into following divisions:

· Assets Management

· Retail Banking Division

· Liability Division

· Common Assets Division

· Credit Administration Division

· Human Resources Division

· Finance Division

· Treasury and International Division

· Information Technology Division

· Corporate Banking Division

· Operation Division

· Credit Risk Management Division

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· Control and Compliance Division

· Establishment Division

· Training, Research, Communication & Public Division

· Consumer Banking Division

· Credit Policy Division

· Audit & Inspection Division

· General Service Division

· Law Division

Asset Management

The Bank invest funds on behalf of its customers (shariah compliant investment product) and

gives them access to a wide range of traditional and alternative product offerings. For example

open end funds, pension funds and closed end funds.

Retail Banking Division

In this division bank deals with customers and execute their transaction directly. Bank provide

the service of savings, checking of accounts, mortgages, personal loans, debit cards and ATM

cards.

Credit Administration Division

In this division, banks deals with the credit, banks gives loans to individuals answer to the

corporations.

Audit & inspection Division

This department of the bank conduct audit of all the branches and submit its reports to the top

level management to take corrective measures.

Human Resource Division

This division performs the duty of hiring the employees, training the employees as well as

retaining the employees and if necessary, firing the employees.

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Finance Division

This division controls the overall activities relating to finance i.e. monitoring the investment

activities, financing activities, Debit and Credit of funds and reasons thereof with proofs.

Training, Research, Communication & Public Division

This division makes research about the new product, imparts training to newly hired employees

as well as old employees for innovation as per the rules and regulation of State Bank of Pakistan.

Operation Division

This division controls the whole operation of all the branches and controls the cash activities,

cheques, account opening and other things about operations.

Law Division

This division engages the lawyers and gives them the power of attorney to protect the bank to in

courts of law where cases have been filled by the bank against defaulters of loan as well as

against the bank by the general public.

Information Technology Division

This division provides the relevant systems for working in the bank and protects the data in

computers at central place and controls the overall online system on daily basis.

ORGANIZATIONAL HIERARCHY CHART:

The organizational structure of the Bank consists of top level management, middle level

management and lower level management. The top level management comprises of president,

executive vice president, and divisional heads. The middle level management comprises of

departmental heads, SVPs and VPs. The lower level management comprises of AVPs, Managers,

and Operation Managers. The reporting system at horizontal level is much effective and

successful. The reporting system at vertical level i.e. from lower level management to middle

level management is also accurate, timely and complete. The middle level management gives

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information to high level management at which decision are made, rules and regulations are

amended keeping in view the present scenario

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MEEZAN BANK SATELLITE TOWN BRANCH, SARGODHA (1402)

Meezan Bank Limited opened its branch at Satellite Town, Sargodha in Nov, 2011. The code of

branch is 1402. The branch in charge consists of a Branch Manager and Manager Operations.

Manager Operations control the whole staff.

Branch Manager

Qamar Shehzad

Manager Operations

Muhammad Qasim

Personal Banking Officer (PBO)

Muhammad Iqbal

Chief Cashier

Atif Atta

Teller

Usman Maqbool

Clearing

Zeeshan Ali

Remittance

Adnan Shehzad

BDO

Muhammad Kamran

Syed Rizwan

INTERNSHIP DURATION

I started my internship on October 9, 2013 which ended on November 13, 2013. The duration

of the internship was 6 weeks. The staff of the branch was much cooperative. They imparted me

training in all departments of the branch i.e. Customer Service, Clearing & Remittance and

Account Opening.

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TRAINING PROGRAM

I started my internship with the introduction of bank employees and with introduction of

bank departments.

I came to know about the purpose of the bank and the functions of the bank and I judge

the practical performance of the departments. Then I was told about Riba and its types:

Riba al Nasiah

Riba al Fadhl

Important elements of basic mode of financing in which Mudaraba and Musharaka lies.

I learnt about characteristics and procedure of Mudaraba and Musharaka. I learnt about

IBTDR (Islamic Bank Term Deposit Receipts) and knew what its meaning and

functions. Basically IBTDR involves Accounts:

Saving Deposit accounts

Term Deposit accounts

I l e a r n t abo u t t h e p r o f i t r a t es o f t he acco un t s an d p ro cedu r es t o

o p en t h es e accounts. I also learnt about CDR (Call Deposit Receipts) and its

procedure and knew its purpose.

I learnt about the PAY ORDER and DEMAND DRAFT and the difference of Pay Order

and DD.

SERVICE QUALITY DEPARTMENT:

In this department I learnt a lot about floor time management and quality assurance affairs in

branch.

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Floor time management:

While standing near the main gate it is ensured that customers coming into MBL are properly

looked after. The bank also creates a sense of ownership of service quality and also develops a

service mindset and ultimately a quality service culture at MBL. Furthermore, bank manages the

sale and service area of the branch to provide maximum opportunities to its clients as well as

provide a sense of comfort and personal attention.

Responsibilities of floor time management:

The bank maintains and file daily working sheet of Floor Time Management and record

customer‟s complaints in the CRM. The bank monitors daily log of TAT sheet and put up it to

Branch Manager. Complaint handling and its follow up is made on daily basis. Modifications

and improvements are suggested in the system and process. Try to make coordination between

branch and Head Office regarding service quality. Lead Floor Manager is assigned duty first of

all.

RESPONSIBILTIES OF LEAD FLOOR MANAGER/FLOOR MANAGER:

Lead Floor Manager welcomes all the customers and introduces himself with a smiling face and

checks branch cleanliness and pleasant atmosphere in the branch. He also checks availability

customers stationary at proper places as well as maintain the notice and assist in SQ. Individual

customers are provided comprehensive services. He moves around the banking hall and cash

counters area to ensure that every customer is looked after properly.

ACCOUNT OPENING DEPARTMENT:

Basics of account opening:

Account opening is the basic and first relationship, which is established between

Bank and the customer. In account opening extreme care has to be exercised in case

of completion of account opening documentation. Whenever a client comes in the bank in order

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to open an account the first information that is given to him/her about the types of accounts,

which can be opened, so far this purpose the client is given detailed information about the

accounts and their respective profit rates.

Type of accounts opened:

CURRENT

SAVING

TERM DEPOSIT

Sub-categories of Accounts and the Basic Requirements:

MINOR ACCOUNT

Bay form and copy of passport minor

National Identity card of Guardian

Signature requirement of guardian

INDIVIDUAL ACCOUNT

Copy of national identity card

Complete account opening form

Letter of introduction if required

Visiting Card (if the person is employed)

JOINT ACCOUNTS

As evident from the name these accounts can be jointly opened by any number of persons. The

minimum number of persons required to open a joint account is two but there is no maximum

limit.

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Requirements:

National Identity card of all Applicants.

Signature of all Applicants.

Zakat Affidavit of all Applicants (zakat Examption).

Operation of account clearly mentioned.

The options available to operate the account are:

Jointly

Either or Survivor

Other(s)(Please specify)

CLUB /SOCIETY/ASSOCIATION

Requirements:

Certified copy of resolution

Certified copy of rules

Copies of National Identity cards of all directors/passports

Completed account opening form

Specimen Signature Card

TRUSTS ACCOUNTS

Completed account opening form

Specimen Signature Card

Certified copy of trust deed

Copy of rules/by laws

Copies of National Identity cards of all trustees

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CORPORATE ACCOUNTS OF SOLE PROPRIETOR

Requirements

Declaration Letter

Copy of NIC/Passport of the proprietor

National Tax Certificate

Declaration of Sole Proprietor on company letterhead

Business registration Certificate

Specimen Signature Cards and completed account opening form.

ACCOUNT OF PARTNARSHIP

Requirements

Partnership Deed, certified copy.

Photocopies of NIC of all partners.

Partnership Mandate (Prescribed Format).

ACCOUNT OF LIMITED COMPANIES

Requirements

List of Directors of company.

NIC of all Directors.

Copy of certificate of Incorporation.

Memorandum of Association.

Article of Association.

Copy of Board Resolution.

Latest Copy of Form-29

Stamp of Company, which is to be affixed on the account opening form.

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Certificate of Commencement of Business

ACCOUNTS OF LITERATE [Photo Account]

These accounts can be opened individually or jointly. For men, the right hand thumb impression

and for women, the left hand thumb impression is taken on account opening form. The customer

is given advice to come to bank by himself in order to withdraw any cash or deposit the cheque.

Requirements:

Photocopy of NIC of Account Holder.

Two-three passport size photographs.

PROCEDURES FOR ACCOUNT OPENING

First of all, after inquiring from the customer what type of account he/she wants to open, the

account opening form is got filled from the customer and signed it. Along with the account

opening form, the customer is also signed two Specimen Signatures Cards. After fulfilling all the

formalities of account opening, the computer generated account number is given to the customer

that is of special series depending on the type of account.

REQUISITION SLIP

A requisition slip is given to the customer to sign it so that the customer can get cheque book.

Cheque book is issued after one day of receiving the requisition slip.

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LETTER OF THANKS

After opening the account “A Letter Of Thanks” is send to the customer in order to thank the

customer for opening an account in the Bank. This letter tells all the information regarding

his/her accounts, which are kept very confidential.

ACCOUNT OPENING REGISTER

After an account is opened, an entry is made in the account opening register, which

has the following columns:

Date

Account Number

Name & Address

Telephone Number

Initial Deposit Customer Services/Relation Officer enters the new account opened in

computer and the Specimen signature Cards are also scanned so that whenever a cheque

of the respective account comes for encashment, the signatures can be verified.

OVERALL FUNCTIONS PERFORMED BY ACCOUNT OPENING DEPARTMENT:

ACCOUNT OPENING

ACCOUNT CLOSING

FOR ACCOUNT CLOSING:

The closing of current account is within 1 day.

The closing of saving account is on MUDARABAH based. Unless profits reach the bank

is unable to close the account. When the profit arrives it is given to the customer unless

the balance is nill and then afterwards account is closed.

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SOME MORE INFORMATION ABOUT DORMANT ACCOUNTS:

Some of the information‟s which is provided to me about dormancy of accounts by SIR

MUZAMIL (Relationship officer) is as follow:

If no transaction has been done by the customer in a CURRENT account for 6 months

then the account become DORMANT.

If no transaction has been done by the customer in a SAVING account for 1 year then

the account become DORMANT.

The bank sent letter to the respective customer 45 days before until it becomes dormant

that he didn’t do any transaction in his account.

Reactivation of dormant account requires:

Id card

Application with reason of why not using account, then after activation the customer will

do transaction.

In case of company/sole proprietorship/partnership application along with letterhead and

stamp of the company.

If a customer comes with an expired CNIC dormant account will not activate, but account

will be opened.

The bank will take an undertaking with that customer that if within 45 days the CNIC is

not available then they will block his/her account and then he will not be able to

withdraw any amount from his/her account.

The customer will apply to NADRA for CNIC attested by commissioner.

LOCKER OPERATIONS:

Locker facility is also available at all the branches of MBL for keeping the valuables there in and

this facility is only for account holders. As for as privacy is concerned, lockers are located in a

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specially designed area protected with strong room doors and grills under the control of two

officers, operated by use of Master Key and Customers Key supplied to the customer at the time

of locker is rented out.

TYPES OF LOCKER

Lockers are of three types:

Small,

Medium

Large lockers

Security fee of locker is Rs. 3000 which is refundable and charges for Small Rs. 1000, for

Medium Rs. 1500 and for Large Rs. 2000 per annum.

A separate application form is complete and signed by the customer along with SS Card and a

copy of CINC with two photographs. After completing all the formalities a locker is allocated to

the applicant and Key is given to him with locker identification card.

PROCEDURE OF ISSUANCE OF BANK STATEMENT:

For issuance of bank statement a requisition slip is taken from the customer duly signed and the

period from which the customer wants to take the statement. After verification of signature Bank

Statement is issue to the customer and Rs. 55 are deducted from account of customer.

PROCEDURE FOR STOP PAYMENT:

For stopping the payment, the bank take sign of the customer on stop payment form where in

account number with date and amount of cheque is written. Customers also mention the reason

of stop payment then the bank mark that cheque as stop payment. Charges of stop payment are

Rs. 250. Now the bank will not make payments of these cheques.

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MY SOME LEARNING ABOUT ATM/DEBIT CARD:

Some of the information about ATM card which are provided to me by sir Iqbal (PBO) is

as follow:

Firstly the customer has to fill the ATM/DEBIT card application form.

Meezan Visa Debit card options:

Silver (annual fee PKR 350)

Gold (annual fee PKR 600)

Limit for amount withdrawal at one time for Silver card is 20,000

Limit for amount withdrawal at one time for Gold card is 40,000

The application form consists of:

Request for new ATM/debit card.

Request for replacement of ATM/Debit card.

Account information

Address for Mailing ATM/Debit card

Joint account holders

AUTHORIZATION by account holder‟s signature

By joint account holder‟s signature

For issuance of PIN and activation of ATM customer has to call the help line (111-331-

331). After verification of customer, a PIN number is issue to him and his card is

activated.

After issuance/arrival of ATM card entry is made on ATM ISSUANCE REGISTER on

the spot.

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CALL INTIMATION REGISTER is kept to maintain the record of calls to customers.

The bank intimate customer about the arrival of ATM card after waiting for 10 days. On

10th

day the bank intimate customer through call.

After 10th

day, 20th

day, and 25th

day if customer do not arrives to collect his

ATM card then the bank discard his ATM card and sent to head office.

On 5p.m if customer arrives then it is good. Otherwise bank sent ATM LETTER.

SOME INFORMATION ABOUT CAPTURED ATM CARD:

There are four possibilities:

If our ATM card is captured on our machine then the bank will wait for a customer for 7

days. And if the customer do not come within these 7 days then the bank will discard

the card.

If the captured card is of the other branch of Meezan bank then the bank will keep the

card for 2 working days. and after 2 days the card is sent to the respected branch.

If other bank card is captured on our machine then we will keep it for 2 days. after 2 days

we will sent that card to our head office. Our head office will sent that card to that bank

head office and then that head office will sent that card to its respective branch and vice

versa.

STATUS OF ATM CARDS:

There are 3 status of ATM/debit card:

1. Warm

2. Cold

3. Hot

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WARM

The newly issued ATM card is called WARM. If the ATM card is temporarily blocked then it is

also called WARM. then the bank will call the head office to activate that card.

COLD

If the ATM card is 100% accurately working then it is called cold.

HOT

If the captured ATM card is of our own branch and if it is hot then the bank will destroy that card

on the same day.If it is of other branch and it is hot then on the same day card is sent to that

branch.The customer can confirm his balance through call also and for this purpose he/she is

required to fill CUSTMER‟S INSTRUCTIONS FOR TELEPHONE BANKING FORM.

1-LINK card provides good link to connect through ATM.

Mostly claims are on M-NET card because of certain line problems.

OPERATIONS DEPARTMENT:

FUNCTIONS PERFOMED:

1. CLEARING

2. REMITTANCE

3. TRANSFER

CLEARING

In clearing process, if the account holder of MBL receives the cheque of other bank like City

Bank, Habib Bank Limited etc, and he submits it in MBL branch to be cashed. At the same time

the clearing process starts. First the bank name, Cheque number and the amount are written in

the register. After this three kind of stamps are required first bank name stamp, secondly clearing

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stamp of next date and If the cheque is not local then the inter-city clearing stamp is required.

Some cheques are local and some are outstation. The institution N.I.F.T. provides the services in

clearing the cheque. They send the different cheques to different banks. The N.I.F.T service is

available only in few cities, like Karachi, Lahore, Rawalpindi. The cheque of inter city is send

through N.I.F.T. And where, the N.I.F.T service is not available so the cheque is sent through

T.C.S. The clearance of cheque is informed through advice. Some cheques are not passed so they

are returned and Rs. 100 is deducted and if the cheque is of inter-city then the postage charges

are deducted. For this purpose the Debit & Credit voucher is used. When the cheque is cleared

current day stamp is required. Some chequse are drawn on MBL. This is called outward clearing.

These cheques will be entered in the outward clearing register. And the advice is sent for the

clearance of cheques. The account holder account is credited.

TYPES OF CLEARING:

Inward clearing

Outward clearing

I received all the clearing cheques and made a schedule of these cheques after making entries in

outward and inward clearing registers and sent the same to main branch where at all the cheques

were sent to NIFT (National Institutional Facilitation Technology)

Inward clearing:

When cheques of other Banks are deposited in our bank, after clearing these cheques through

NIFT by the other Banks on which these are drawn. Accounts of the customers are credited.

Inward clearing takes 1 day.

Outward clearing:

When cheques of our bank are deposited in other Banks and these cheques are sent to us for

verification, we debit the of our client after verification their account.

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Outward clearing takes 2 or 3 days. They are called outward clearing because they are presented

on the very next day after depositing a cheque.

REMITTANCE:

Remittance department transfer the funds from one bank to another bank and one place to

another place. In this department collection takes place. MBL makes payment of only open

cheques at the counter and prohibits the payment of crossed cheques. MBL transfer money from

one place to another place by way of payment order, demand draft, inward collection, outward

collection.

NIFT:

NIFT stand for National Institutional Facilitation Technologies. Clearing House of SBP has

shifted a part of its work to private institution named NIFT. NIFT collets Cheques, Demand

Draft, Pay Order, Travelers Cheques, etc. from all branches of different Banks within city

through its carriers and send them to the branches on which these are drawn for clearing. NIFT

prepares a sheet for each branch and send it to each branch as well as to State Bank of Pakistan

where accounts of Banks are settled.

TRANSFER OF CHEQUES:

If a customer holds two accounts in the bank and he/she wants to transfer money from one

account to the other account, customer writes a cheque and fills deposit slip in which he/she

writes account no to which amount is to be transferred. After making transfer entry in the

computer affix transfer stamp in the middle of cheque, crossing on the upper left and bank‟s

endorsement stamp on the backside of the cheque.

DESTRUCTION OF CHEQUE BOOKS:

If a cheque book is not collected by customer for more than 1 month and if a customer do not

respond to the telephone calls of the bank, then his cheque book is destroyed by the bank.

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There is no demand draft (dd) in MEEZAN bank. There is only PAY ORDER which is

acceptable throughout the country. Meezan bank‟s cheque is also accepted throughout the

country.

CALL DEPOSIT RECEIPT(CDR)

Call Deposit Receipt is a form of non-profitable guarantee certificate issued to Government &

Semi-Government Institutions, Corporations and Semi-Autonomous Bodies as a security deposit

in favor of any tender. The beneficiary can at any time deposit the CDR in their account.

MEEZAN Bank facilitates all customers to avail this service without having an account with the

bank.

RATIO ANALYSIS:

A tool used by individuals to conduct a quantitative analysis of information in a company's

financial statements. Ratios are calculated from current year numbers and are then compared to

previous years, other companies, the industry, or even the economy to judge the performance of

the company. Ratio analysis is predominately used by proponents of fundamental analysis.

Ratio analysis is helpful to the management of the organization as well as for the investors and

creditors. Investor keeps an eye on the company‟s financial statement and make decisions

whether to invest funds in that company or not. Similarly a creditor also analysis the financial

statements and makes decisions whether to grant loan or not.

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SUGGESTIONS:

During my internship period I have identified number of weak points that may erode the success

factors of the organization in future. As per my expertise I am suggesting following measures to

overcome the very crucial bottlenecks to enhance the performance of every department and more

specifically “people”.

Aggressive Marketing Strategy is extremely very necessary in todays cut throat

competitive environment so firstly I would like to suggest that the bank must pursue very

aggressive marketing and advertising strategy so that it can create awareness in general

public about its Islamic products and services.

Healthy customer (internal & external) relationship must be developed in order to sustain

its market leadership

Employees should be assigned jobs for specific period and then they should

be shifted to other department so that they can gain knowledge of other jobs.

The process for providing banking facilities to end users must be properly managed in

order to decrease customer dissatisfaction and waiting involved in getting their desired

services.

Nizafat is half emaan but in the branch to maintain nizafat proper measures have not been

taken for example separate washroom for ladies staff and visitors should be maintained.

Branch should have appealing and eye-catching look.

The small cabin of remittance department should be made wide with duly furnished..

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Due to prevailing law and order situation locker facility is demand of the public as hot

cake but our this branch has limited facility which may be enhanced by providing further

locker cabinets which will be very good source of income.

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BIBLOGRAPHY:

Pamphlets or brochures

www.meezanbank.com.pk

www.almeezan.com.pk

Annual Reports Retrieved 8 Feb, 2013, from Meezan Bank web site

http://www.meezanbank.com/FH_FinancialReports.aspx

Consult from Annual report 2012, interim report 2013 & Pages Magazine 2012.

www.google.com