Presented by :-

SKY HIGH

Presented to :-

SIR RAFIQ AHMED

FARUKH SALEEM 9373SIKANDAR ISHAQ 9375AMJAD HANIF 9376ZEESHAN AHMED 9382SHAHNAWAZ VIRK 9324

We are thankful to our teacher sir Ahmed Rafiq who assigned us this project and with the guidance of her we have completed it successfully.

We dedicate this assignment to our parents and our teacher sir Ahmed Rafiq who always helped us while the completion of this project.

We were given a final project related to the subject “Money, Banking & Finance” in which we had to visit a bank. The project was assigned by SIR Ahmed Rafiq, who is our course instructor. For this project, we chose Standard Chartered Bank and we met Mr. Shoaib Salahu Din-The Manager of Standard Chartered Bank, Gulberg branch. We collected all the information which was included in the contents of assignment. It includes types of accounts the bank offers, special accounts of the bank, loans, mortgages, interest rates, etc.

History :-The Standard Chartered Group was formed in 1969

through a merger of two banks: The Standard Bank of British South Africa founded in 1863 and the Chartered Bank of India, Australia and China, founded in 1853.

Founded by James Wilson following the grant of a Royal Charter by Queen Victoria in 1853.Chartered opened its first branches in Mumbai (Bombay), Calcutta and Shanghai in 1858, followed by Hong Kong and Singapore in 1859.Traditional business was in cotton from Mumbai (Bombay), indigo and tea from Calcutta, rice in Burma, sugar from Java, tobacco from Sumatra, hemp in Manila and silk from Yokohama.Played a major role in the development of trade with the East which followed the opening of the Suez Canal in 1869 and the extension of the telegraph to China in 1871.

Founded in the Cape Province of South Africa in 1862 by John Paterson. Commenced business in Port Elizabeth, South Africa, in January 1863.Was prominent in financing the development of the diamond fields of Kimberley from 1867 and later extended its network further north to the new town of Johannesburg when gold was discovered there in 1885.Expanded in Southern, Central and Eastern Africa and by 1953 had 600 offices.In 1965, it merged with the Bank of West Africa expanding its operations into Cameroon, Gambia, Ghana, Nigeria and Sierra Leone.

Standard Chartered Bank (Pakistan) Limited - A locally embedded international bankStandard Chartered is the largest international Bank in Pakistan. The Bank has been operating in Pakistan for over 140 years when it first established its operations in 1863 in Karachi. After the acquisition of Union Bank in September 2006, the new entity Standard Chartered Bank (Pakistan) Limited was incorporated in Pakistan on 30 December 2006 as a subsidiary of Standard Chartered PLC. The bank has a network of over 162 branches in Pakistan. Standard Chartered employs a workforce of over 9,000 employees in its Pakistan operations.

The Standard Chartered mainly offers the following account types:

1. Saving Accounts2. Current Accounts3. Corporate Salary Account

The Standard Chartered bank offers the following types of savings accounts:

a. Saving Accountb. Bonus Saver Accountc. Flex Accountd. Mahana Izaafa Account

Saving Account is the latest addition to Standard Chartered Bank Pakistan Limited’s ever increasing portfolio of products. This product combines a good rate of return, profit paid out on a six-monthly basis, and outstanding services offered by Standard Chartered Bank Pakistan Limited all-in-one.

Features of Saving Account:

•The saving account can be opened with a balance of 25,000.•Standard Chartered is now online with all its 162 branches across Pakistan.Our Customer Contact Center allows the customer to access his account information, make PO/DD's, transfer his money and does more with it, from anywhere in the country, just by placing a toll free call to the Contact Center.•Profit on Saving Account is on a minimum balance basis and is credited to the account every January and July.

Standard Chartered introduces Bonus Saver - a savings account that gives you an opportunity to earn a high rate of return on your savings. Bonus Saver gives you a ‘bonus’ for saving. Earn upto 10% until you decide to reward yourself with a well deserved vacation, refurbishment of your home or just set it aside for a rainy day.

Features of Bonus Saver Account:

oEarn a minimum rate of 5% on your monthly average balance oEarn a Bonus rate on your monthly average balance if you do not withdraw from your account during that month oProfit credited to account on a monthly basis oAccess your money through a network of more than 150 branches in 41 cities and 2,500 ATMs across Pakistan oEnjoy the convenience of Visa Shopping / ATM Card, providing access to over 24 million outlets and 1 million ATMs worldwide oEnjoy the power of complete self service banking options with

•e-Statements•Phone Banking•Internet Banking•SMS Banking

The most flexible account ever for individuals who want more value from their salaries. Flex Account has no minimum balance requirement and add to it a host of other advantages to suit your needs.

Features of Flex Account:

oNo minimum balance requirement.o5 % Profit calculated on a daily balances and credited monthly.oATM card is a VISA Debit Card and can be used to make purchases at thousands of outlets across Pakistan.o24 hour Phone Banking.oMonthly service charge of Rs. 50oAccount accessible from 162 online branches across Pakistan.

Mahana Izaafa is a unique Rupee Saving Account which combines a high rate of monthly profit, flexibility of withdrawal and convenience, all in one. The special tiering structure ensures a higher profit on higher deposits. It is the smart choice of the profit minded who demand more than just profit from their bank account. Today it is the preferred choice of thousands of satisfied customers including businessmen, salaried individuals, housewives, business houses and retirees.

Features of Mahana Izaafa Account:

oProfit payment upto 6%oProfit depends on balance, higher the investment higher will be the profits.oYour profit is credited to your Mahana Izaafa account every month.

Following are the current accounts offered by the Standard Chartered.

a. Current Accountb. Basic Banking Accountc. Foreign Currency Accountsd. Business Account

The current account can be started with the amount of 5,000.

Enjoy an unmatched combination of high returns and liquidity. In addition, our nationwide network of ATMs offers you 24-hour convenience in withdrawing your funds, ensuring that your money works for you, as you would like it.

Features of basic bank account:

oCurrent account, mandatory introduced by State Bank of Pakistan.oNon-profit bearing.oMinimum Balance Required: None.oAccount Statements: Issued on annual basis.oAccount closure: If balance is Nil for 180 days.oFees: Maximum 2 free deposits & 2 fee withdrawals allowed per month. (Rs 100 will be charged after second transaction).

Features of Foreign Currency Accounts:

oNon-profit bearingoWithdrawals: Only withdrawn by cheque/ No ATM withdrawalsoMinimum Balance Required:

US$/GBP/EUR 2,000JPY 200,000

Fees:•No transaction charges•Cash-handling fee is levied as per Schedule of Charges

Take your business to soaring new heights with this account. Business Account provides efficient, accessible and convenient transactional capabilities of a world-class bank with highly competitive charges.

Features of Business Account:

oHighly transaction current account aimed at rewarding the customer for their higher average balance maintainedoNon-profit bearingoMinimum Balance Required: Rs. 100,000oFeatures: Unlimited withdrawals and depositsoOfferings: (1) Chequebook (2) VISA debit card for Local Currency accounts.

The Standard Chartered Payroll Account allows you to streamline salary payments and provides world-class banking facilities that sets your employees free to bank at their own convenience –from office, home or anywhere else.

Product Advantage:oSecure and hassle free employee salary transfer via Straight to Bank.oAccess to Payroll information – both current & historical.oAccess to Cash Management solutions via Corporate Bank.

Service Advantage:oCollection of account opening documents from the company premises.oInforming the company about the account opening status during on boarding.oAfter sales service on any issues on Payroll & personalized complaint handing

Standard Chartered offers two special accounts. These are:

oXtra Mile Current AccountoSahulat Online Account

Xtra mile current account is an Ideal solution for people who want a Transactional Account with cash reward on fuel spend.

Features of xtra mile account:

oMinimum Monthly Average Balance Requirement PKR 15,000.oFuel Cash Back up to 30%. oFree Debit Card. oTransactional Convenience through the use of Wide Branch Network and Alternative Distribution Channels.

Sahulat Online Account has been designed to provide efficient, accessible and convenient transactional capabilities of a world-class bank with highly competitive charges.

Features of Sahulat Online Account:

oNon-profit bearing/Local Currency Account.oMinimum Balance Required: Rs 50,000 .oCharges: PKR 50 will be charged if Monthly Average Balance not maintained.

The Standard Chartered offers following types of loans:

1. Ready cash2. Swift finance

Standard Chartered's Ready Cash is an evergreen personal line of credit that gives financial power with unmatched freedom and flexibility. It is a credit line facility that provides a bank account maintained with Standard Chartered, from which customers can withdraw cash up to a pre-approved limit using their ATM Card or cheque book.

Ready Cash Benefits:

•Instant Credit up to Rs. 500K•Lowest Mark-up•Pay as You Utilize•No Penalties on Early Repayment•The process will require maximum of 7-10 days.•An annual fee of Rs. 1,750 is required.•Documentation Required

Swift Finance is an efficient, accessible and convenient way of meeting all your short-term liquidity needs. With this, you don’t have to liquidate your long-term savings and investments set aside to meet your future financial goals.

Features of Swift Account:

•Financing up to 85% of your collateral amount •Avail facilities at the most competitive rates in the market •Markup charged only on the amount utilized and only for the number of days it is utilized.•Get your financing amount disbursed into your account in 7 working days.•Great Limits•Flexible Markup Payment•Easy Access to Cash

Following are the mortgages offered by the Standard Chartered:

1. Home purchase2. Home credit

Turn your dreams into reality with Standard Chartered Home Purchase. With Standard Chartered Home Purchase you can purchase residential ready property for the purpose of self-occupation.

Features of Home Purchase:

•Repayment tenor of 1 to 20 years.•Loan to value up to 80 % of the property value.•Minimum Net Income as low as PKR 20,000 per month.•Markup rates for Mortgage Loan for Salaried is 17.00% & Self-employed is 17.50% per annum.•To avail higher loan amount Standard Chartered Home Loans offers you the option of clubbing the income of your spouse and blood relatives.•Minimum age of the primary borrower should be >=25 years. Incase of co-borrower the secondary borrower should be either >=21 if income is being clubbed or >= 18 if income is not being clubbed.•Documentation Required

Your home is undoubtedly your most treasured asset. That is why its maintenance and upkeep is of utmost importance. So while you invest in its renovation / extension, let us take care of all your expenses. This facility not only limits to home renovation / extension but also suffices for medical and educational needs.

Features of Home Credit:

•Loan amount of up to PKR 10,000,000 to fulfill your requirements•Repayment tenor ranging from 1 to 10 years•Loan to value maximum of up to 60 % of the property value•Minimum Net Income as low as PKR 20,000 per month•Markup rates for Mortgage Loan for Salaried is 17.00% & Self-employed is 17.50% per annum•To avail higher loan amount Standard Chartered Home Loans offers you the option of clubbing the income of your spouse and blood relatives.•Documentation Required

The Standard Chartered bank provides loans and mortgages only under the following conditions:

•A good satisfactory personal account bank statement.•Business account statement.•Last six months transactions.•After viewing the property documents.•Checks whether the person is liable or not and can pay the loan’s value back.•Personal assets.•The bank always cover the backup of, money before giving the loan.•Check the reputation of the person who is taking the loan.

Through our network of product specialists, Standard Chartered provides global coverage of the full spectrum of interest rate and bond products to meet each of our clients’ needs.

Interest Rates Risk:Standard Chartered offers a full range of interest rate derivatives products to meet your specific risk management needs, ranging from plain vanilla to exotic. Applications include solutions for interest rate and currency hedging and risk management, as well as strategies for yield enhancement. Product coverage extends to emerging markets, with trading in more than 30 currencies in 12 countries worldwide.

•The Standard Chartered bank is charging very high interest rates. There should be reduction in the interest rates.•Like many other banks, Standard Chartered should also offer Student Account.•The account opening conditions are tough e.g., Standard Chartered opens saving account with the amount of 100,000. The conditions should be little polite.•On profit & loss account, Standard Chartered do not give loss.

We are thankful to our teacher for assigning us this project. It has helped us in understanding the banking concepts. By completing this project, we now know about all the contents of the assignment much more than before.

Standard Chartered, (2009) ‘History’ http://www.standardchartered.com/about-us/history/en/, 05 May 2009.

Standard Chartered, (2009) ‘Standard Chartered in Pakistan’ http://www.standardchartered.com/pk/personal/about-us/en/about-us.html, 05 May 2009.

Standard Chartered, (2009) ‘Credits’ https://www-uk.computershare.com/investor/formscatalogue.asp?bhjs=1&fla=0&cc=UK&lang=en&fla=1&issuerid=scukstc&theme=scukstc&bypass=true, 06 May 2009.

Mr. Shoaib Salahu Din (Manager - Standard Chartered Bank, Gulberg Branch).