INTRNSHIP REPORT ONMuslim Commercial Bank
Internship Report submitted to the Faculty of Management and
Administrative Sciences in Partial Fulfillment of the Requirements
for the Degree of Master of Business AdministrationMBA 5th
SemesterFall 2013UNIVERSITY OF GUJRATName of Program Coordinator
________________Signature of Program Coordinator ______________
DedicationI dedicate this report to my cooperative teachers, my
loving parents and my friends who help me on each and every step of
my internship. I also say thanks to the University of Gujrat which
polish my abilities and taught professional skills in a very good
manner.
Acknowledgement
Immeasurable thanks to GOD Almighty for giving me such
extraordinary abilities and making me privileged enough to take
part in such activities.
I also want to my gratefulness to my loving parents and my
modest teachers and my friends, who make me able to do this because
they gave me courage and support to accomplish this task.My thanks
and appreciations also go to my age group in developing the report
and people who have willingly helped me out with their abilities.At
the end, I also thankful to all the staff of MCB (Jalalpur Jattan)
who was fully cooperate with me.
Table of contentsTitle pageDescription Page no.Acknowledgement1-
Executive
Summary---------------------------------------------------------------------------06PART-
l2-
Introduction-------------------------------------------------------------------------------------072.1
Brief History
----------------------------------------------------------------------072.2
Role of bank in Pakistan
-------------------------------------------------------072.3
Functions of MCB in Pakistan
------------------------------------------------072.4 Vision
------------------------------------------------------------
------------------082.5
Mission--------------------------------------------------------
---------------------082.6 Core
values---------------------------------------------------------
---------------082.7 Corporate
profile----------------------------------------
------------------------092.8 Organizational hierarchy
chart----------------------------------- ------------102.9 Reward
and success stories ------------------------------------
-------------- 112.10 Bank branches-------------------------
------------------------ ------------------123- Organizational
overview------------------------------------------------
-------------------- 12 3.1 Nature of
organization------------------------
-------------------------------- 13 3.2 Product
line-----------------------------------------------------------------------14
3.3 MCB AGRI financing
products-----------------------------------------------18 3.4 MCB
virtual
banking------------------------------------------------------------20
3.5 upcoming
products--------------------------------------------------------------23
3.6 Islamic banking
products-------------------------------------------------------24PART-24-
Internee Working
------------------------------------------------------------------------------254.1
Introduction of MCB
BAHGOWAL--------------------------------------------254.2 Detail of
supervision
---------------------------------------------------------------264.3
Hierarchies of staff
-----------------------------------------------------------------265-
Departments of
MCB------------------------------------------------------------------------335.1
Departments in which I have
worked-------------------------------------------336- Account
opening by
me----------------------------------------------------------------------347-
Summary of
learning-----------------------------------------------------------------------
368- SWOT
Analysis------------------------------------------------------------------------------
388.1 Strength8.2 Weakness8.3 Opportunity 8.4 Threat9- PEST
Analysis--------------------------------------------------------------------------------
40 9.1 Political 9.2 Economic 9.3 Social 9.4 Technical10-
Recommendations &
Suggestions--------------------------------------------------------4111-
References-------------------------------------------------------------------------------------43
1- Executive Summary
MCB Bank Limited has a solid base of over 50 years in Pakistan,
with a set-up of over 1000 Branches, over 850 of which are
automated Branches, over 350MCB ATMs in 41 cities nationwide and a
network of over 12 banks on the MNET ATM switch.MCBs operations
continued to be streamlined with focus on rationalization of
expenses, re-alignment of back-end processing to increase
productivity, enhancement of customer service standards, process
efficiency and controls.It was a first experience in my life in any
professional organization. I explore my skills and abilities
through this experience. I worked in different departments in
different situations. There was a little bit hesitation when I
started, but after some time I feel confident. It was a most
learning experience of my life. I started my work from accounts
department. I knew how many types of accounts they have. Starting
days were difficult to understand but after few days I feel expert
for account opening. I deal different kind of customers included
non educated customers. He also told me the reasons for closing the
accounts. All activities done by myself. Mr. Saadat was very
helpful and kind person. He sorts out my problems and told me how
to handle different problems. After one week I started work with
the cashier Mr. Kashif. He told me how to handle the cash and
utility bill payment system. He told me how to record all cash
transactions and specifications for check payments. He gave me
separate computer system. Firstly I match the number of customer
which will give by him after that the name of the sender and
receiver and also the amount. Then I press the print button and the
printed page gives to him for signature and collecting money from
counter.After that I spent some days in clearing department. Mr
Murtza Shah told me some of works done by clearing house are
Transfer cheques, Transfer Delivery cheques and clearing
cheques.These all actives were new for me. You are hardworking,
efficient and intelligent boy said by everyone in the bank. They
were happy with my work and gave me lot of wishes and tips for my
future.
history of MCB:
MCB Bank Limited, with more than 60 years of experience as one
of the leading banks in Pakistan, was incorporated on July 9 in
1947. The bank has journeyed remarkable tenure of more than half a
century of competitively edged and well positioned heights of
success by deploying quality banking, heads on technological
developments, professionally leading management and prudent and
ethical work methodologies. MCB was nationalized along with other
private banks in 1974 as part of Government of Pakistan's economic
reform movement and was later privatized to Nishat Group lead
consortium in 1991.Since privatization, MCB's growth has been
phenomenal. Today, MCB in one of the largest foreign banks in Sri
Lanka, the first bank in Pakistan to launch Global Depository
Receipts (GDR) in 2006, has strategic foreign partnership with
Maybank of Malaysia which holds 20% shares in MCB through its
wholly owned subsidiary Mayban International Trust (Labuan) Berhad
since 2008, has international indirect regional presence in Dubai
(UAE), Bahrain, Azerbaijan, Hong Kong and Sri Lanka and serving
through a domestic network of over 1,150 branches and over 690 ATMs
across Pakistan with a customer base of 4.96 million (apprx.)MCB is
reputed as one of the soundest financial institution and as one of
the leading banks in Pakistan with a deposit base of PKR. 545 bln
(apprx.) and total assets of PKR 766 bln (apprx.). The bank is
versed as one of the oldest and most responsible banks in Pakistan
and has played pivotal role in representing the country on global
platforms while being one of the few institutions that are
recognized and traded in the international market.
Vision and Mission:
Vision Statement
To be the leading financial services provider, partnering with
our customers for a more prosperous and secure future.
Mission Statement
We are a team of committed professionals, providing innovative
and efficient financial solutions to create and nurture long-term
relationships with our customers. In doing so, we ensure that our
shareholders can invest with confidence in us.
COREVALUES
INTEGRITY
We are the trustees of public funds and serve our community with
integrity. We believe in being the best at always doing the right
thing. We deliver on our responsibilities and commitments to our
customers as well as our colleagues.
INNOVATION
We encourage and reward people who challenge the status quo and
think beyond the boundaries of the conventional. Our teams work
together for the smooth and efficient implementation of ideas and
initiatives.
EXCELLENCE
We take personal responsibility for our role as leaders in the
pursuit of excellence. We are a performance driven, result oriented
organization where merit is the only criterion for reward.
CUSTOMER CENTRICITY
Our customers are at the heart of everything we do. We thrive on
the challenge of understanding their needs and aspirations, both
realized and unrealized. We make every effort to exceed customer
expectations through superior services and solutions.
RESPECT
We respect our customers values, beliefs, culture and history.
We value the equality of gender and diversity of experience and
education that our employees bring with them. We create an
environment where each individual is enabled to succeed.
CORPORATEPROFILE
Board of Directors (As at June 30, 2013)
1. Mian Mohammad ManshaChairman
2. S. M. MuneerVice Chairman
3. Tariq RafiDirector
4. Shahzad SaleemDirector
5. Sarmad AminDirector
6. Mian Raza ManshaDirector
7. Aftab Ahmad KhanDirector
8. Mian Umer ManshaDirector
9. Dato' Seri Ismail ShahudinDirector
10. Datuk Abdul Farid Bin AliasDirector
11. Ahmad Alman AslamDirector
12. Muhammad Ali ZebDirector
13. Imran MaqboolPresident & CEO
Management
1. Imran MaqboolPresident & CEO
2. Ali MunirGroup Head - Strategic Planning & Investment
3. Agha Saeed KhanGroup Head Operations
4. Salman Zafar SiddiqiChief Financial Officer
5. Ali Mubashir KazmiGroup Head - Retail Banking
6. Muhtashim AshaiGroup Head - Wholesale Banking
7. Shahid MalikGroup Head - CCM & Special Projects
8. Kamran RasoolGroup Head - CSR & Security
9. Mohammad RamzanGroup Head - Treasury & Forex
10. Usman HassanGroup Head - Human Resource
11. Raheel IjazGroup Head - Compliance & Control
12. Laqa SarwarGroup Head - Special Assets Management
13. Syed Rashid RahmanGroup Head - Islamic Banking
14. Mohammed Nauman ChughtaiGroup Head - Risk Management
15. Imtiaz MahmoodHead - Information Technology
16. S. Mudassar NaqviGroup Head - Legal Affairs
Audit Committee
1. Tariq RafiChairman
2. Aftab Ahmad KhanMember
3. Dato' Seri Ismail ShahudinMember
4. Ahmad Alman AslamMember
Human Resource & Remuneration Committee
1. Mian Mohammad ManshaChairman
2. Mian Raza ManshaMember
3. Ahmad Alman AslamMember
4. President & CEOMember
Risk Management & Portfolio Review Committee
1. Mian Umer ManshaChairman
2. Sarmad AminMember
3. Muhammad Ali ZebMember
4. Datuk Abdul Farid Bin AliasMember
5. President & CEOMember
Committee on Physical Planning & Contingency
Arrangements
1. Sarmad AminChairman
2. S. M. MuneerMember
3. Mian Umer ManshaMember
4. President & CEOMember
IT Committee
1. Mian Raza ManshaChairman
2. Aftab Ahmad KhanMember
3. Ahmad Alman AslamMember
4. President & CEOMember
Business Strategy & Development Committee
1. Mian Mohammad ManshaChairman
2. S. M. MuneerMember
3. Mian Raza ManshaMember
4. Mian Umer ManshaMember
5. Datuk Abdul Farid Bin AliasMember
6. Ahmad Alman AslamMember
7. President & CEOMember
SBP Report Compliance Monitoring Committee
1. S.M. MuneerChairman
2. Sarmad AminMember
3. Ahmad Alman AslamMember
4. President & CEOMember
Write Off & Waiver Committee
1. Mian Mohammad ManshaChairman
2. Tariq RafiMember
3. Aftab Ahmad KhanMember
Chief Financial Officer
Salman Zafar Siddiqi
Company Secretary & Group Head Legal Affairs
Syed Mudassar Hussain Naqvi
Group Head Audit & RAR
Kamran Zaffar Muggo
Associated Companies
1. Adamjee Insurance Company Ltd.
2. First Women Bank Ltd.
3. Euronet Pakistan (Pvt.) Ltd.
Subsidiary Companies
1. MCB Financial Services Ltd.
2. MNET Services (Pvt.) Ltd.
3. MCB Trade Services Ltd. - Hong Kong
4. Arif Habib Investments Ltd.
5. "MCB Leasing" Closed Joint Stock Company - Azerbaijan
AWARDS &ACCOLADES
Year 2012
The Asset Triple ABest Domestic Bank Pakistan
Euro moneyBest Bank in Pakistan
NFEHCSR Business Excellence Award Best Media Coverage
ICAP and ICMAP2nd Best Corporate Report Award 2011- Banking
Sector
World FinanceBest Commercial Bank - Pakistan
Pakistan Centre for PhilanthropyPCP Corporate Philanthropy
Award
Year 2011
CFA Association PakistanMost Stable Bank of the Year
CFA Association PakistanBest Bank of the Year
Euro moneyBest Bank in Pakistan
ICAP / ICMAP1st - BCR Award 2010 - Banking Sector
SAFAJoint 2nd Runner-up for BCR 2010
Year 2010
The Asian BankerStrongest Bank in Pakistan
The Asian BankerLeadership Achievement Award
MMTBest Bank Led MMT Service
ICAP / ICMAP1st - BCR Award 2009 - Banking Sector
SAFACertificate of Merit Award for BCR 2009
Year 2009
AsiamoneyBest Domestic Bank in Pakistan
The AssetBest Domestic Bank in Pakistan
Year 2008
EuromoneyBest Bank in Asia
EuromoneyBest Bank in Pakistan
AsiamoneyBest Domestic Bank in Pakistan
Year 2006
EuromoneyBest Bank in Pakistan
BASIC BANKINGACCOUNT
Its as simple as ABC to start banking with MCB.
Look after your money the simple way with MCB
Basic Banking Account.
KEY POINTS
No minimum balance requirement.
2 deposit and 2 withdrawal transactions free per month.
Transactions over & above the limit to be charged @ Rs.35/-
per transaction.
Customers can avail ATM, MCB Mobile and free Virtual Banking
facilities.
MCB ACCESS:
Branches, on your way
Hundreds of 9-5 full day banking branches (including
Saturdays).
Network of over eleven hundred and fifty online branches, at
convenient locations.
ATMs (Access 24/7)
Over 690 MCB ATMs.
Over 6000 ATM Nationwide ATMs.
Call Center, at your fingertips (Access 24/7)
General Inquiry e.g. ATM Locations, Product Information etc.
Financial Services e.g. Account Balance Inquiry, Debit Card,
Transaction detail, bill payments etc
Non-financial Services e.g. Internet Banking activation etc.
Internet Banking, virtually anywhere (Access 24/7)
Bill payments and Funds Transfer.
Bank Account Statement and Cheque Book Request.
SMS Banking, on the go (Access 24/7)
Balance Inquiry details.
Last 4 transaction details.
MCBBANCASSURANCE
As dreams pass into the reality of action, from the actions
stems the dream again. This interdependence constructs the highest
form of living. Your dreams may be to give your children the best
education, live a dignified life after retirement, or just keep
your loved ones financially secure and protected. What everyone
wants from life is a continuous and genuine happiness. Your action
to plan for your future financially will stem your dreams. MCB
Bancassurance has a financial plan that fits all your needs by
fulfilling you and your loved ones dreams and keeping your Har Pal
Mehfooz.Combining the best of banking and financial solutions, MCB
Bancassurance provides a one-stop shop solution for you by
guaranteeing convenience and security with a wide range of products
available for all your financial needs.All our plans are specially
designed by reputable insurance providers. These companies have
excellent experience with insurance products and guarantee that
your funds would be in good hands as there is a team of
professional investment experts in each company working on making
the funds grow higher in a secure manner.Each plan is designed to
give you a peace of mind because we know that in the end, its not
the years in your life that counts. Its the life in your
years.Products: Flexi life Life Partner Edu Care Dream Wedding
Capital Sure Retire Easy Income Max Future Assure Protection Plan
Save and Assure KafalahLoans:Type:1. Care4u2. Cash4cash3. Student
personal loan4. Home loanFlexible: Option for financing or leasing
Financing tenures from 1 to 7 years Option for new as well as used
cars Options for local as well as imported cars Financing up to Rs.
25 Lacs Option for early payment Option for replacement
loanAFFORDABLE: Lower mark up rates Lower insurance rates Minimum
20% down paymentsSPEED: Fast and hassle free processing of
application Priority delivery on different vehiclesSPECIAL
BENEFITS: No processing fee if the case is declined Pay your down
payment after your loan is approvedAVAILABILITY: Currently
available in the following cities:Karachi, Lahore, Faisalabad,
Rawalpindi, Islamabad, Sialkot, Gujranwala, Hyderabad.EXISTING
CUSTOMERS: Get discounted rate if you are already our customer for
Personal Loan, Pyara Ghar or Business Sarmaya. If you are our
branch customer, you can avail this facility anywhere in
Pakistan.
MCB GOLD PLUSTHE MOBILE-ENABLED VISA DEBIT CARD
From the makers of MCB Mobile comes a brand new innovation MCB
Gold Plus - Pakistan's first chip-based Visa Debit Card pre-enabled
with the power of mobile.With MCB Gold Plus, access to your account
is now just a touch away.International Acceptance
The Visa Gold Plus Card is accepted at more than 50 million
merchant locations and close to 2 million ATMs across 200 plus
countries. Not only this but you can also access your funds, make
payments, and pay bills using your mobile phone from anywhere in
the world.
All Telecom/Device Compatible
Enjoy compatibility everywhere. The MCB Gold Plus innovation
works with any telecom service provider in Pakistan and runs on all
internet enabled handsets or smart phones.
Unlimited Transactions
No extra charge. MCB Gold Plus digital payments are demonetized
and made free of charges so that you and your loved ones can save
more time and money as you transact more and more. So now you can
make payments and access your money, anytime, anywhere without the
worry of paying a charge every time.
Limits & Fee StructuresGold PlusGoldSilver
Daily Transaction Limits:
ATM Withdrawal50,00025,00010,000
Shopping150,000100,00025,000
MCB Mobile100,000100,000100,000
Promotional Schemes:
Cash Back on 1st Retail Purchase(1)PKR 250PKR 250No
MCB MobileFree300300
1300 cc Car Lucky Draw(2)YesYesNo
Annual/Issuance fee(3)1,000750500
Replacement Charges(3)1,000750500
Total Cost of 1st Year(4)750500500
(1)Worth PKR 100 or more within 30 days of card activation.
(2)For POS transactions carried out till 31st December 2012.
(3)Charges exclusive of FED & other taxes, if any.
(4)After cash back
MCB VISA DEBIT CARD
MCB now brings youVisa Debit card Pakistans 1st chip based debit
card. It allows the customers to enjoy unmatched convenience,
enhanced security and round-the-clock accessibility to their
funds.The MCBVisa Debit cardoffers innovative promotional schemes
designed to reward our customers every time they use the card to
pay for shopping, dining, fuel, travel etc. Features such as
increased withdrawal limits, SMS alerts, door step delivery,
instant ATM PIN generation via call center, e- Statements and
variable Spending Limits add to the convenience it offers.
Customers receive guaranteed PKR 250 Cash Back* when they use the
card to make a payment for the 1st time and automatically enter
into a draw to win from several 1300 cc cars.These offers are only
valid on Gold Cards. There are no promotions on Silver Card.
MCBAGRI FINANCING PRODUCTSproducts1. Shadabi plan2. Khushali
scheme3. Tractor financing scheme4. Aabiari scheme5. Grower
financing6. Dairy & meat plan7. Murghbani scheme8. Baghbani
scheme9. Mahigiri scheme
HOME REMITTANCE
Send FREE, Receive FREE
MCB Home Remittancesoffers unmatched services for overseas
Pakistanis to send money home FAST and FREE across Pakistan with
our large network of over 1150 branches.
MCB Home Remittance Service isFREE&INSTANTthrough our
international send agents like "Money Gram", "Xpress Money" and
"Samba Speed Cash Now". Pick up your remittances from any MCB
branch displaying these logos. MCB Fast Transferenables you, the
Non Resident Pakistanis, to send money to your loved ones in
Pakistan through hassle free account credit. MCB Pak Cash(Cash in a
Flash) is available via MCB's entire branch network. Payments can
be made at any MCB branch to walk-in customers simply with the
provision of their Xpin code and CNIC no, account number is
required for such transactions.
TRANSACTIONBANKING
Transaction Bankingprovides a wide range of solutions designed
to meet the needs of our corporate and institutional business
partners. At MCB, we understand how important it is for you to
access your funds and utilize the MIS to benefit your business
needs. It is around these fundamental concepts that we have
customized our product solutions.
Structured Cash Management Solutions Processing Agent for
Utility Companies Collections Online Fund Transfer (OFT) Tejarat
Card Payments Payroll Vendor Payments Dividend Warrants Management
Channel Financing Correspondent Banking Home Remittances Custodian
Banking Services
Online Fund Transfer Facility (OFT)
This state of the art web based electronic fund transfer
facility has been specifically designed to facilitate Corporate
cash management and the large network of franchises
/dealers/distributors to be able to log on to a secure MCB web site
and transfer funds from their account to the company with real time
MIS and alerts.
Tejarat card
Tejarat card is a closed loop debit card designed for electronic
cash payment solution which could empower businesses to conduct
business-to-business payments through Point of Sale (POS)
terminal.
Payments
Our payments services include bulk fund transfers to instruments
issuance to over the counter cash payments that allow our customers
to process payrolls and other commercial payments through MCBs
Network efficiently.
We also provide customized end to end dividend payment solutions
for our customers.
Channel Financing
MCB provides working capital facilities to dealers and vendors
for select companies through a structured product program.
Correspondent Banking
We offer a facility to assist small banks and financial
institutions to utilize MCBs extensive branch network platform to
make payments in areas where their own branch network does not
reach.
Home Remittances
MCB Home Remittancesdelivers unmatched services for overseas
Pakistanis to send money home FAST and FREE across Pakistan with
MCBs large network of over 1100 branches.
INVESTMENTBANKING DIVISION
Our Investment Banking arm has played a dynamic role in the
local market space in Pakistan through innovative structured
solutions for its customers and is regarded as one of the leading
investment banking house in the country. Our IB team has strong
origination and distribution capabilities and a successful track
record for efficient execution. In 2007, a USD 53 million listed
bond issue led by MCB was awarded The Banker's Deal of the Year for
Pakistan, by Financial Times, UK. During the last three years, we
have led or participated in deals over USD 5bn, of which 65% are in
the energy sector, 14% in fertilizer and chemicals, 11% in telecom
and 10% in other industries.
Our goal is to provide best financial solutions to our client
helping them achieving their objectives and support economic growth
of the Country.
MCB VIRTUALBANKING
MCB Virtual Internet Banking offers you the convenience to
manage and control your bank account and finances; when you want
and where you want. MCBs Virtual Internet Banking facility is:-
Simple- Secure- Free of costMCB Virtual Internet Banking allows you
to access banking services, 24 hours a day, 7 days a week and
throughout the year.
What do we offer
MCB Virtual Internet Banking offers a wide range of online
services which makes your banking accessible anytime and from
anywhere.
Detailed Account Summary of all listed accounts.
Mini-statements of each of the listed accounts showing last 6
transactions for those account(s).
Statement-by-Period of each of the listed accounts, based on the
period specified.
Immediate or Scheduled Transfer of Funds between your own
accounts, as well as to third-party accounts setup as
beneficiaries, maintaining accounts with MCB.
Scheduling of One-Time as well as Recurring Funds Transfers.
Payment of utility bills for registered Utility Companies.
Immediate or Scheduled Bill Payments. Scheduling of One-Time as
well as Recurring bill payments. Option for Full or Partial payment
based on the payment conditions.
Bulk Salary Transfer for Corporate Customers, to facilitate them
in paying salary to the corporate employees who maintain accounts
with MCB.
Cheque Book Request for any of your listed accounts.
Payment/Transfer Alerts for reminding, in advance, prior to the
processing of specified payments and transfers.
Personal Alerts for reminding of pre-specified events and
occasions.
Mobile Recharge facility for all mobile companies!
Islamic banking:INTRODUCTION
Islamic Banking Division was formed with effect from 1st January
2003, which in a short span of time, has developed sufficient
expertise, necessary infrastructure, information technology, and
manpower to run Islamic Banking Operations and offer Islamic
Banking Products.
Mission Statement
To play a dynamic role in promotion of Islamic Banking and win
customers trust by providing sharia compliant financial
services.
Vision Statement
To become a leader among Islamic Banks of the country in the
coming years capturing major share of the domestic Islamic
financial market.
DEPOSITSCHEMES
If you are looking for a deposit opportunity where you can purse
your funds and reap HALAL returns, we offer following products:
Hifazat Saving Account
The minimum deposit requirement for Al-Makhraj Saving Account is
only Rs. 100 and profits can be earned semi annually.
Hidayat Current Account
If you are looking for a chequing account that gives you the
ease of doing unrestricted number of transactions, we offer
Al-Makhraj Hidayat Current Account. Hidayat Current Account may be
openedwith a minimum of only Rs. 1,000. With all the features and
facilities that this product offers, it is highly recommended for
management of business funds.
Namat Term Deposit Account
A minimum of only Rs. 25,000 is needed to invest money in
Al-Makhraj Term Deposit. Choice of tenors can be made from a list
of options namely 1, 2, 3 & 6 months, 1, 2, 3 & 5
years.
Hifazat (Plus) Saving Account
Our saving account product Hifazat Plus encourages your habit of
savings. Consequently, as you save more you earn more. The various
slabs of deposits provide you opportunities to choose the most
appropriately suited amount of deposit you want to place with us to
earn halal monthly profits along with additional free-of-cost
features on maintaining a pre-determined threshold balance.
FUND BASEDFACILITIES
MCB offers 4 broad Islamic fund based facilities:
Ijarah Maeeshat Murabaha Diminishing Musharika Equipment
Baraamad Export Financing
Ijarah
MCBs Islamic Ijarah, analogous to the English term 'leasing, is
based on the Ijarah wa Iqtina concept which means the sale of the
asset to the lessee (customer) after the Ijarah has matured. Under
this scheme, MCB will be the owner of the asset, and you (lessee)
will be given the asset to use for a certain period of time in
return for monthly rental payments. MCB will give a separate
unilateral undertaking that it will offer to sell the asset to you
(lessee) at the maturity of the Ijarah agreement at a price that
may be equal to the security deposit amount, hence the term Wa
Iqtina.We currently offers 2 types Ijarah Products:
Salamat Car Ijarah
Sanat Equipment Ijarah
Maeeshat Murabaha
It is a contract between a buyer and a seller under which the
later first purchases the goods at the request of the former i.e.,
customer and then sells it to same customer after adding
profit.Murabah Sale Price = Cost + Expenses incurred + Agreed
Profit
Diminishing Musharika Equipment
It is a contract through which the bank and its client
participate in the joint ownership of a property. The share of the
Bank is further divided into a number of units and it is agreed
that the client will purchase the banks share periodically, thus
increasing his own share until all the units of the bank are
purchased by him so as to make the client the sole owner of the
property.
Baraamad Export Financing
Baraamad is Shariah-complaint substitute for conventional
banking Foreign Bill Purchase (FBP) product, which fulfils your
working capital requirements needed to meet your export
requirement. The Shariah-compliant financing you avail under this
product assists you to continue your production cycle in order to
manufacture consignments for export.
NON FUNDBASED FACILITIES
MCB offers 1 broad Islamic non fund based facility:
Kafalat Bank Guarantee
Kafalat Bank Guarantee
Kafalat based on the concept of Kafalah the bank acts as an
intermediary in certain kinds of transactions in order to ensure an
atmosphere of security and confidence for both parties, giving you
peace of mind to carry out your transaction in a Shariah-complaint
manner.
UPCOMMINGPRODUCTS
Diminishing Musharika Housing
Istisna Pre Shipment Export Finance
Islamic Banking Foreign Currency Deposit
ISLAMIC BANKINGPRODUCTS
Mudaraba
Mudaraba is a partnership in profit whereby one party provides
capital (rab al-maal) and the other party provides labor
(mudarib)
Sharika al-aqd :
Sharika al-aqd (contractual partnership) means an agreement
between two or more parties to combine their assets, labor or
liabilities for the purpose of making profits.
Murabaha
Murabaha is selling a commodity as per the purchasing price with
a defined and agreed profit mark-up. This mark-up may be a
percentage of the selling price or a lump sum. This transaction may
be concluded either without a prior promise to buy , in which case
it is called an ordinary Murabaha, or with a prior promise to buy
submitted by a person interested in acquiring goods through the
institution, in which case it is called a Banking Murabaha i.e.
Murabaha to purchase orderer. This transaction is one of the trust
based contracts that depends on transparency as to the actual
purchasing price or cost price in addition to the common
expenses.
Ijarah
This terms ijarah as used in this standard means leasing of
property pursuant to a contract under which a specified permissible
benefit in the form of a usufruct is obtained for a specified
period in return for a specified permissible consideration.
Ijarah Muntahia Bittamleek
One of the forms of Ijarah used by Islamic financial
institutions is ijarah Muntahia Bittamleek. This is a form of
leasing contract which includes a promise by the lessor to transfer
the ownership in the leased property to the lessee, either at the
end of the term of the ijarah period or by stages during the term
of the contract, such transfer of the ownership being executed
through one of the means specified in the Standard.
Salam
A salam transaction is the purchase of a commodity for deferred
delivery in exchange for immediate payment. It is a type of sale in
which the price, known as the Salam capital, is paid at the time of
contracting while the delivery of the item to be sold, known as
al-Muslam fihi (the subject-matter of a Salam contract), is
deferred. The seller and the buyer are known as al-Muslam Ilahi and
al-Muslam or rabb al-Salam respectively. Salam is also known as
salaf (lit. borrowing).
Parallel Salam
If the seller enters into another separate Salam contract with a
third party to acquire goods, the specification of which
corresponds to that of the commodity specified in the first salam
contract, so that he (the seller) can fulfill his obligation under
that contract, then this second contract is called, in contemporary
custom, parallel Salam or Salam Muwazi. The following is an example
of such a contract. An institution on one hand buys a specified
quantity of cotton from farmers on a Salam basis and in turn, the
buyer in the first Salam contract enters into a new separate Salam
contract with textile mills so as to provide them, by means of that
new Salam contract, with cotton, the specification of which are
similar to the specifications of the cotton to be acquired under
the first salam contract, without making the execution of the
second salam contract contingent on the execution of the first
salam contract.
Istisnaa Contract
Istisnaa is a contract of sale of specified items to be
manufactured or constructed, with an obligation on the part of the
manufacturer or builder (contractor) to deliver them to the
customer upon completion.
Parallel Istisnaa
Another form of istisnaa, known in modern customs as Parallel
Istisnaa al-Istisnaa al-Muwazi, takes effect through two separate
contracts. In the first contract the Islamic financial Institution
acts in the capacity of a manufacturer, builder or supplier and
concludes a contract with the customer. In the second contract, the
institution acts in the capacity of a purchaser and concludes
another contract with a manufacturer, builder or supplier in order
to fulfill its contractual obligations towards the customer in the
first contract. By this process, a profit is realized through the
difference in price between the two contracts and in most cases,
one of the two contracts is concluded immediately, (i.e.the
Istisnaa contract entered into with the manufacturer , builder or
supplier), while the second contract (i.e. the contract entered
into with the customer) is concluded later.
Part- 24- Internee work:Introduction of MCB Bahgowal branch:It
was not an advanced branch were I did my internship. But they deal
heavy accounts in this branch. This is not an oldest branch but is
has good reputation in this area. It is followed the instructions
and under control in regional head quarter Gujrat. I spent six week
in this branch as a junior worker. The duration of my internship
was 15 july 2013 to 26 august 2013. I was an only internee in this
branch that time. All the staff members deal me like a family
member. They were very cooperative and kind with me. I had a good
experience with them.Detail of supervision:All the bank members
were very cooperative with me but Mr. Saadat supported me in every
field. He is operational manager is this branch. He also supervised
me during my internship. He told me how to work in different
departments and in different situations. Some time I feel
uncomfortable but he gave me confidence and enhances my
abilities.The official staff in this branch was consisting of four
members. And there was one sweeper and one security guard. The
hierarchy of these staff is given belowBMMr.Rashid Ali
Operational managerMr. Saadat Miran
TSOMr. Kashif
IT Department HeadMr. Murtaza Shah
Starting date: 15/07/2013Ending date: 26/08/2013This was the
first experience of my life in a Banking sector. There was little
bit confusion in my mind that how would I do job. I entered in Bank
first day with lots of thoughts and hesitation. I met Mr. Rashid
Ali first and gave responsibility to Mr. Saadat as my supervisor.
He was Operational manager of this branch. He introduced me with
other staff members. He welcomed me and keeps with him. After that
daily routine work started that is briefly described below.1st
weekDateDaysWorked performed
15-07-2013MondayOn my first day of internship the branch manager
Mr. Rashid Ali welcome me and introduce me with other staff
members.He assigned me with operational manager Mr. Saadat Miran to
sit with him and check how he is working.
16-07-2013TuesdayToday I again sit with Mr. Saadat he show me
the account opening form and tell me the P/L account and current
account and other facility of account which MCB is providing with
detail. There are too much types of account in which MCB is dealing
this time some are related to P/Ls and some are attached with fixed
deposit account the interest rate is different on all types of
account which attract the customer with MCB promise.
17-07-2013WednesdayIt was very busy day I fill the account
opening form of a customer for a simple current account Mr.Saadat
guide me all of that but all of filling by my hand. I also fill the
check book request form and SS card and some account related
papers. I fill a deposit slip of Rs.4000 as a first deposit of
account and issued the account number to the customer.
18-07-2013ThursdayThe account which will be opened must be
posted to system by a proper channel. It is like and opening an
E-mail account but with some difficulties. Specimen signature card
(SS card) scanned and attach with customer profile it helps the
employees at the time of payments because they match the signature
with it sometime pictures of that customers who are illiterate and
place there thumb impression at the place of signature are posted
with their files.
19-07-2013FridayI check the previous account opening forms of
the customers Mr.Saadat show me some points related to audit and
give me the duty to make them correct there were some stamp missing
and some other little faults. All of bank papers are very carefully
filled because they all scanned by the auditors critically; all
branches conduct their audit two times in a year. The auditor comes
from the head office.
20-07-2013SaturdayToday I see the register of cheque book Mr.
Saadat taught me how to issue the check book how to fill the check
and how to fill the deposit slips. I also fill some forms for
online transaction there are different points on check available
like bearer, self cheque, cheque by name, cross check they all are
the kinds of cheque. Mr. Saadat also tells me some other kinds of
cheque.
22-07-2013MondayIts an easy day of the bank not too much load of
the customers. I also deal some customer today. I help them filling
their checks and deposits slips. It was very enjoying most of the
customers of bahgowal branch belong to village areas.
23-07-2013TuesdayI have filled two bank drafts today firstly I
fill the form for bank draft after that Mr. Saadat tell me how to
put the data on system a lot us a number for bank draft the person
submit the fees and the money for the value of bank draft to
cashier. After that issued a paper like a big check which is called
bank draft.
24-07-2013WednesdayToday a courier come with a bundle of check
books Mr. Saadat give me the bundle and a register of issuance of
check books. And ask me to post these are check books with their
account numbers ,customer names and first check number and last
check number. This register maintains the record of check books and
at the time of audit it will help.
25-07-2013ThursdayToday Mr.saadat ask me to call their some
newly customers who open their account last week to get their check
book from the bank. Some of them come to bank and Mr. Saadat asks
me to issue them check books. I get their signature in front of
their name and also place the issuance date and give them their
check book.
26-07-2013FridayToday Mr. Rashid Ali meet me with a smiling face
and inquired me about my work how it is going it is enjoyable my
answer was yes after that he asked me to sit with Mr. Kashif who
handle the cash of the bank. Mr. Kasif was much cooperated person
he give me the tips how to count the cash and he also ask me to
make the bundle of cask each bundle contains hundred notes. It was
very enjoying work.
27-07-2013SaturdayToday I learn how to collect the utility
bills. It was very careful work Mr Kasif tell me first of all check
the last date of the bill is it due or not after that the amount of
the bill will be checked and we get the money from the customers.
we give two stamps on the bill with signatures we cut it and one
part of the we give to the customer. At the closing we post all
these bills on the system. Mr. Kasif tell me the second part of the
bill sometime taken by the concerning department like wapda, sngpl
or any other.
29-07-2013MondayToday Mr. Kashif give a separate chair in his
counter and ask me to collect utility bills whole day. I almost
collect 50 bills today. At the time of closing Mr. Kashif give me
the chance to post bill on the system all company has its account
automatically opened by the bank where these are posted with their
customer numbers.
30-07-2013TuesdayToday the head office send some fresh cash Mr.
Kashif count them and put into the locker, due to EID this money
will be distribute among their account holders and some other
persons on demand.
31-07-2013WednesdayMr kashif today tell me that the busy days
start now because he will issue the new cash and transactions will
increase due to EID in these days.
01-08-2013ThursdayToday Mr Kashif give me a register to maintain
the record of outsiders who are not account holders of the bank
with their CNIC copy for issuing of new cash, this register was
under my custody till EID and I maintain it properly with
signatures of the customers.
02-08-2013FridayCheck receiving and payments to account holder
is very major and important work of any bank it need full attention
of cashier because any one mistake make it a big loss. Mr.Kashif
told me some important parts of check which will be observed at the
time of check receiving. First of all the date posted on check.
After that in subject what account holder writes self or any other
thing like any person name. Amount will be match in words with
figure signature will be check and check also on back side of
check.
03-08-2013SaturdaySignature on the check is carefully checked
the procedure of checking signature is submit the account number on
system and then check the name of the person and match the
signature because the ss card already scanned on system. The
payment of those checks who has thumb impression at the place of
signature are not given but to related account holder.
05-08-2013MondayToday Mr.saadat give me a new responsibility at
the time of Eid the foreign receiving increase by the name af the
persons through Express money or through some other channels.
Mr.saadat guide me about the work and give me a separate computer
for this work.
06-08-2013TuesdayFirstly I match the number of customer which
will give by him after that the name of the sender and receiver and
also the amount. Then I press the print button and the printed page
gives to him for signature and collecting money from counter.
07-08-2013WednesdayI print more than 70 pages to for money today
and whole day I do just this work with my full attention.
12-08-2013MondayAfter celebrating the Eid now the office time is
start. On that first day the time of the bank is change from 9 to 5
customers dealing. Customers are not too much Mr. Kashif gives me a
check and guide how to enter it into the system. He told me that
every bank has its own software for this purpose which is specially
designed. First of all give the account number of the customer and
then check is it have the required amount in the account if yes
then enter the amount and press ok the amount automatically deduct
from the account. And system will allot you a number of that
transaction
13-08-2013TuesdayIn banking sector every transaction will not
pass in one step there must be two steps first step preformed
cashier and that is entering the transaction into system. And
second will be performed by supervisor (operational manager) who
check the entry and supervise it. Supervision not only for the
checks but online transfer and all entries will be supervised.
15-08-2013ThursdayAt the time of closing all the data of that
day will be saved on a disk and a closing will be run which will be
printed. It is like a balance sheet of that day all entries
recorded by their entry number on it and all check, bank drafts,
demand drafts, deposit slips and other papers will be attached with
it by their number these papers will be saved date wise and at the
time to check any mistake they will help.
16-05-2013FridayToday I check properly the closing proses I
check the previous sheets and observe how it is manage. After that
in evening with the printing of those sheets I manage them by
number and attach the checks and other papers with them. This all
also help and very important for audit.
17-08-2013SaturdayIn evening all the cash will be count and
match with the system. System automatically gives the final balance
after running the closing sheet. After counting the cash by cashier
it must be checked by the operational manager and then the cashier
put it into the locker under the supervision of operational
manager. There is always two custodian of the locker one is cashier
and the second is operational manager.
19-08-2013MondayI ask to Mr Saadat to tell me about that why
peoples close their accounts. He told me some of reasons for
closing their accounts. Reasons are as following Death of customer
Notice from customer Finish the amount in the account
Unsatisfactory operation Any law order
20-08-2013TuesdayAll of the work of bank and connect with other
branches is handled through E-mail. Mr Murtza Shah handles this all
work. He also handles the NIFT. The cheques of some other banks
cleared by NIFT some courier service providers like TCS. OCS etc
provide this service they get the cheque from the concerning branch
and cleared from it to related branch it take 2 days.
21-08-2013WednesdayIt was a new day with Mr Murtza Shah he told
me clearing about the clearing some time a bank may be a collection
bank and some time might be paying. He told me about clearing
house. Clearing house is a place providing by Stat Bank Of Pakistan
in all cities all banks representatives come here for the purpose
of offsetting the interbank indebtedness arising from the transfer
of deposit by a customer of particular bank to another.
22-08-2013ThursdayMr Murtza Shah told me that for clearing first
of all customer fill up a pay slip and attach the instrument with
it which he want to deposit in his account and give it on the
counter.Mr Murtza Shah told me some of works done by clearing house
are Transfer cheques, Transfer Delivery cheques and clearing
cheques.
23-08-2013FridayCourier service has a big part in banking sector
they handle all the work related to NIFT and other mails on daily
basis. A register is maintained for daily entries of the mails and
also save the slips issue by courier man.
24-08-2013SaturdayIt was my second last day in the bank. I spend
it with Mr Rashid Ali he give me some of tips for a good manager.
He told me about customer dealing how increase the number of
accounts, deposits, and customers in the bank. This is the basic
key of success without it no bank can run his business. All of
these burdens come on the shoulder of Manager. So a successful
manager is that who has a best convincing power.
26-08-2013MondayIt was a last day of my internship. It was
wonderful experience. I boost up my confidence. I spend short time
with my colleagues. At 11am I left the bank with lot of prayers
wishes from my co workers. The bank manager Rashid Ali gave me some
suggestions for my success in future and wished me best of luck. I
didnt work at that day but have lots of sweet memories.
Supervisor signature:_____________
3.1 Departments in which I worked:I worked in different
departments; Accounts opening departments Cash department IT
department Remittance department
1- Account opening departmentThis is the key department of bank.
I worked in accounts opening departments for few days and opened
more than 20 accounts.The kinds of accounts which NBP offers in
this branch are as follows; Current account Khushhali bachat
account MCB Rupee Maximizer account MCB enhanced saving account
Profit loss saving account
Current Account:The current account gives you the permission to
access to withdraw his amount any time without any restriction. In
current account the numbers of transactions are not limited. There
is no deduction of ZAKAT on the current account.
Khushhali Bachat Account:Khushhali bachat account require low
income deposit and get the profit on daily basis. The investment is
made through capital growth and gain monthly profit on monthly
khushhali.
MCB Rupee Maximizer:Basically the rupee maximize account
provides the facility to the foreign currency account holders. In
the current situation of the economy, the foreign currency account
holders convert his money in Pak rupee and get the profit at the
rate of 12.6%p.a.
MCB Enhanced saving account:The MCB enhanced saving account is
basically is an opportunity for small savers, who have low saving
but they want higher returns. This saving account can be used
through cheques, ATM, mobile banking and smart card.
Profit & Loss sharing Account:The profit & loss account
can be opened with the amount of Rs.5000. there is no restrictions
to make a transaction in a month but it demand to Rs.5000 every
time in account as reserve.
Account Opening by Me:When the customers want to open their
account in MCB,, so I collect the information by the customers. I
asked him some basic information related to account
opening.CNICSource of IncomeCurrent AddressCompany letter headAfter
asking the related information I opened the account and give him a
letter of thanks. All the forms have been sent to Karachi, I
prepare the list of daily forms sending.
2- Cash department:Most sensitive and important department of
any bank is cash department. Due to some security reasons me work
in this department for short period of time. The two types of
things are involved in cash department are as follows.
a) Cash receipt:After collection of cash screening the currency
notes for his originality and then the currency notes are place in
a safe drawer.The amount in words and figures are matched with the
deposit slip or the voucher.If the amount is too large it require
the CNIC copy and other personal information.The deposit details
are recorded in a register which is called Cash Receipt
Register.The signatures of authorized officers in each entry of the
cash receiving book.At the end of the day the cashier balance the
cash position with the help of vouchers and the physical cash held
by him.
b) Cash payment:Receiving the cheque and verifying the post
dated, amounts in words and figures and also check the
cutting/overwriting.The account holders signatures are verified and
write a number on the cheque.In order cheques gets the CNIC of the
receiver and verify the signatures of receiver with the CNIC
signatures.In case the payment is made to the third party, cheques
amounts exceed to the Rs.100000 then telephonic confirmation of the
account holder is necessary.The checque should be posted to the two
authorized officers of the online department for online
payment.
3-Remittance department:This departments main function is
transfer of funds. The funds can be transferred in form of
telegraph transfer, demand draft, mail telegraph and pay orders.
Pay order Mail transfer Demand draft Telegraph transfer
Pay order:For the payment of dealings or payment of fees issued
the pay orders.This provides the proof of payments between the bank
and customer for the favor of beneficiary. The pay order is printed
in block letters and issued the serial numbers.
Mail transfer:Mail transfer is limited with in a city for the
transfer of money. It is very safe way to transfer the money to
receiver. Mail transferred is issued the serial number given by the
computer system.
Demand Draft:It is a type of cheque issued when customer needs
cash with him.The level of risk is too much low and the large
quantity of the currency is access. It is very easy to demand draft
present in the bank and receives the money. The bank issued demand
draft to those customers who are reliable and the bank has complete
confidence on its customers.
Telegraph transfer:Telegraph transfer are used to transfer the
money from one branch of the bank to the other branch of the bank.
Tele graph transfer issued for test .Test has two steps:1. The
first is to check the branch code, date and day.2. The second test
is the amount which is transferring whether in Pak rupee or foreign
currency. The computerized numbers are issued.Learning
Summary:During my internship I see how the bookish knowledge
applies in the practical life. I have learned many things by
passing the different experiences. The basic experience for me is
how to apply the knowledge.Below the information is about the
skills and qualifications which I feel I have learned.The first and
basic thing in the banking sector is how to deal the customers.
Customer dealing is a great experience for me because every person
has not guts to deal. It is very important to make and convince the
new customers for the long benefit of the bank.In this sector
patience is key tool to adopt to adjust you in the working
environment which I have learned. You must be deal the ignorant
customers patience. If the dealing is hard you lose the customer
and cannot retain the customer next time.Communication plays a very
vital role especially in the banking sector. I improve the
communication skill related to this profession. I have learned this
professional skill during the six weeks of my internship. This
business communication with seniors, customers and other staff
members build up a confidence.It is my first experience to work
under the supervision as a subordinate. As a subordinator I have
learn how to complete the given tasks under the supervision. I have
learned how to fulfill the task according to the given criteria.I
have learned the taking decisions part during the internship.
Decision making is easy but a composite because your decisions are
based on the current and past facts & figures. Without judging
the facts & figures you cannot take the decisions. After taking
the decisions during internship I feel I have a potential of
decision making.
During the internship I have gained the experiences related to
banking as well as I have learned the responsibilities. I realize
the responsibilities while doing the internship.The important thing
which I have feels the responsibility is punctuality. I have not a
good record in college and university life of punctuality.
Punctuality/time keeping is most important feature in our daily
life to achieve the success. During the internship days I realize
the importance of punctuality and my full efforts is to adopt
during internship.The task which is assigned to you to complete
this within the given time period. It is big responsibility on your
shoulders because others work is depending and related to your
task. I have learned the completion of task which assigned by the
senior staff members.I have also learned the responsibility of the
group work. The tasks are divided into groups. Every group is
responsible for his completion of task.Hard working is so much
important in the practical life because I have learned in the
internship without hard working you cannot get the success and
respect. To achieve something we need to work hard in the
life.Customer dealing is a big responsibility and it is not an easy
task. In this field you must deal the every type of person so it is
most complicated and difficult thing.Internship influences your
future:The internship did not influence my future but it had
influence my present life after gaining the experiences, developing
skills and responsibilities.i. behaviorThe internship influences my
behavior. After the internship my attitude is like professionals.
There is too many changes are occurring in my behavior and I feel
himself as a mature and responsible person.ii. Business
communicationAnother influence of the internship is improve the
communication level, in which I have learned how communicate
professionally.iii. Dressing skillProfessional dressing is also a
part of the influence on my life. It is much necessary for the
class room or in a bank atmosphere.iv. Understand others
psychologyI have learned during internship the tactics to
understand the mind level and psychology of the others. After
judging this it is easy to deal.
How much internship is related with my classroom knowledge?The
experience of my internship is a different experience of my life.
The classroom knowledge and the internship experience have some
common features. The common features are as follows:a). positive
behavior:The first and important similarity in classroom and the
professional life is communicated with others in a good behavior.
The good behavior is also tech us in the environment of class room.
During internship I practically apply this thing.b). how to work in
groups:In classroom the teachers assign the group work and sometime
give the different task to every group. This practice is same like
repeated in during my internship period.c). time management:Time
management is important in the study life and the practical life.
In classroom we need to complete the work within limited time
period and same like in internship the seniors assign the tasks for
the limited time, and we a responsibility to manage the time and
complete the work.
SWOT AnalysisSTRENGTHSThe strengths of MCB are as: It is first
privatized bank and its performance is better than others because
of its quality management and introducing the new products and
services. MCB introduce innovative scheme to attract deposits Good
Reputation. Attractive financial offers. They only focus on
customer services Customized products & services. Reasonable
monetary benefit offered to MCB employee. Flexibility working
environment Highly qualified management. Worldwide
networking.Weaknesses The noted weaknesses of MCB are as: Mostly
peoples are not aware about the schemes of the MCB. Expensive
advertisement in RTC and Master card. They have good behavior with
rich and educated people but poor customer or non educated customer
feels strange in the bank environment. It create a negative
impression. Due to job rotation employees have not specialized in
their specific field. Mismanagement of time. Process of development
is bit slow due to its conservative approach They follow others and
have not their own identity. National Bank of Pakistan does not
effort for its promotion, Less improvement in technological
advancement. Less effort to the mobilization of the deposits.
Opportunities Greater potential and opportunities for Credit
Division if Liberal Policies being adopted. They can increase
market share for its RTCs. Quality professionalizes can improve the
whole scenario and structure of management Technology can improve
customer services. Hiring should be merit based. Introduce (MBS)
modern banking system.Threats Political instability causes problems
for banking policies. MCB works under the state bank policies. It
is difficult to survive in the market without the excellent
management. Competition is increasing day by day you can compete
through quality services and continuous improvement. Less of Human
resource quality Terrorism in Pakistan IT system can affect the
services of the MCB.Pest AnalysisPolitical Service practices are
projected to change. Unions can affect the performance both
positively and negatively Political interfering regarding policies
are likely to boost as current government is in competition of
power gain. Political Interference and harassment Higher tax on
banking sector.
Economic Purchasing power decreased by inflation. Personal
income increase due to inflation. Less job opportunities due to
inflation. Operating costs are increasing due to inflation.
Interest rate is high so people avoid to taking loan. The money
value decrease due to that people becomes intention. In inflation
the Govt. lose his control on economy.Social And Cultural Lack of
experts is in our country regarding management hence innovative
activities are slow and conventional methods are adopted.
Insufficient human resources Defaulters lobby Satisfactory
empowerment Lack of training, Declining work ethics is also our
problem Inadequate Accountability Lack of good governance and lack
of good infrastructure
Technical MCB has manual system of data entry, they should use
technology for these purposes then they can get the good impact on
customers mind. They used old technology for their ATM services
Electricity causes problem for banking activities like data entry
etc. IT training is necessary for employees.Recommendations and
SuggestionMCB is an effectively operating and profit making
organization. There are some recommendations for MCB. I worked in
Muslim commercial bank for 6 weeks and observed the environment and
some other things so I have some suggestions for them. These
recommendations will be helpful for the improvement of MCB.
Profitable investmentMostly peoples use the big amount of money
for luxuries those peoples should be motivate to offer the deposits
in different investment schemes. The profit rate should be
increase.
Better Salaries packageMCB is earning good profit but giving the
less salary packages to their employees for their motivation. So
they are less motivated for the farther working.
Change The working natureMostly the banks has strict the
employees on one seat only with the result that they become master
of one particular job and lose their grip on other banking
operation. In my opinion the employees should be rotate on the
different function this way the job is more interesting for
them.Staff is not fully TrainedMCB did not given his attention for
the training of employees like other banks. It needs to provide the
facility of advance study in the specific job. This way the
employees perform the functions well.
Performance And RewardAll employees should be monitor on the
equal basis and the reward is given to employees on the merit
basis. But in some cases the merit should not be follow. Reward is
a motivation for employees to do hard work in a properway.
AdvertisingBank must consent to prospective customers know that
all attraction for banking exist..Presently the banks change the
advertising style and start the different campaigns for the
promotion of his bank. In competition environment MCB needs to more
focus on promotion of his bank. More attention has been given to
explaining to public clearly the offers and services of his
bank.
Flexibility of policiesFlexible policies are introduced by the
MCB for their customers. Management strictly follows that policy
which is beneficial for their customer and bank employees.
11- References
http://www.mcb.com.pk http://en.wikipedia.org/wiki/muslim
commercial bank http://www.sbp.org.pk/reports/annual
http://en.wikipedia.org/wiki/economy of Pakistan MCB Staff Members
MCB Manuals