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Internship report on Meezan Bank Limited

Transcript of Mbl Internship Report

  • 1 | P a g e

    Internship Report

    Internee Name Ayman Khalid

    Duration Six Weeks

    Satellite Town Branch Sargodha

  • 2 | P a g e

    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.

  • 3 | P a g e

    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 1126

    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

  • 4 | P a g e

    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.

  • 5 | P a g e

    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.

  • 6 | P a g e

    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.

  • 7 | P a g e

    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)

  • 8 | P a g e

    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

    Banks outlook on medium to long-term rating as Stable. The rating is yet another milestone

    achievement in the Banks endeavor to be the Bank.

    Meezan Banks 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 managements 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 Is