Zeeshan Internship Report

INTERNSHIP REPORT ON MCB BANK LIMITED

MCB Bank Ltd.

Mall Road Branch, Lahore.

An internship report submitted in partial satisfaction

Of the requirement for the degree of

MASTERS OF BUSINESS ADMINISTRATION

In

Marketing

By

M.Zeeshan Ishfaq

July 2010

Submitted to: Placement Coordinator

Nasir Mahmood

Institute of Management Sciences Lahore 1


Dedication & Acknowledgements

I dedicate this internship report to my parents. Because of their prayers and

encouragement I have been able to complete this report.

Praise is to Allah, the most Gracious and Merciful, who blessed me with the knowledge

and wisdom and enabled me to overcome this task. Heartiest gratitude to my parents

without their continuous encouragement and love I could not have accomplished this

task.

I am very grateful to my advisor Miss Hina and Mr. Incharge placement centre for their

continuous help, support and time during the entire course of my internship. I am also

very grateful to all the staff members at MCB Mall road Branch, Lahore especially Mr.

Junaid Butt , Mr. Abdul Sami and Mr. Imran for their guidance and encouragement



Table of Contents Page #

Definition of Bank 4

Pakistan Banking Sector 5-9



DEFINITION OF BANK

The term 'bank' is being used for a long time, yet it has no precise definition. The basic

reason is that the commercial banks perform not just one but many types of functions.

The term bank has been defined differently by different authors. Some are as follows:

According to Crowther,

"Bank is a dealer in debts—his own and of other people."

According to G.W. Gilbert,

"A banker is a dealer in capital or more properly a dealer in money. He is an intermediate

party between the borrower and the lender. He borrows from one party and lends to

another."

According To Bamkinh Companies Ordinance

U/s3 (B) of Banking Companies Ordinance 1962 "Banker means person transacting the

business of accepting for the purpose of lending or investment, of deposits of money

from the public, repayable on demand or otherwise and withdraw able by cheque, draft,

order or otherwise and includes any Post Office Savings Bank."



PAKISTAN BANKING SECTOR

Nationalized Commercial Banks

Privatized Banks

Specialized banks

Private banks

Foreign banks

Other financial Institutions

NATIONALIZED SCHEDULE BANKS

First Women Bank Ltd.

National Bank of Pakistan

Habib Bank Ltd.

DE-NATIONALIZED SCHEDULE BANKS

Allied Bank of Pakistan Limited

MCB Bank Limited

United Bank Ltd.



SPECIALIZED BANKS

Zarai Taraqiti Bank of Pakistan (ADBP)

Industrial Development Bank of Pakistan(IDBP)

Punjab Provincial Cooperative Bank

Federal bank for Cooperatives

PRIVATE SCHEDULE BANKS

Askari Commercial Bank Ltd.

Bank Alfalah Ltd.

Bank Al-Habib Ltd.

Bolan Bank Ltd.

Faysal Bank Ltd.

Habib Credit & Exchange Bank

Indus Bank Ltd.

Metropolitan Bank Ltd.

Platinum Bank Ltd.

Prime Commercial Bank Ltd.

Prudential Bank Ltd.

Soneri Bank Ltd.

The Bank of Khyber

The Bank of Punjab

Union Bank Ltd.



FOREIGN BANKS

ABN AMRO Bank N.V.

Albaraka Islamic Bank BSC (EC)

American Express Bank Ltd.

ANZ Grindlays Bank Ltd.

Bank of America (NT & SA)

Bank of Tokyo Mitsubishi Ltd.

Bank of Ceylon

Banque Indosuez

Citibank N.A.

Credit Agricole A.G.

Deutche Bank A.G.

Doha Bank Ltd.

Emirates bank International Ltd. P.J.S.C.

Habib Bank A.G. Zurich

Hong Kong and Shangai Banking Crop. Ltd.

International Finance Investment and Commerce Bank Ltd.

Mashreq Bank PSC

Oman International Bank SOAG

Rupali Bank Ltd.

Societe Generale, the French Int. Bank Ltd.

Standard Chartered Bank

Trust Bank Ltd.



DEVELOPMENT FINANCIAL INSTITUTIONS (DFIS)

Investment Corp of Pakistan

National Development Finance Corp.

Pakistan Industrial Credit and Investment Corp.

Pak Kuwait Investment Company

Pak Libya Holding Company

Regional Development Finance Corp.

Saudi Pak Industrial & Agricultural Investment Corporation

Small Business Finance Corporation

House Building Finance Corporation

National Investment Trust

INVESTMENT BANKS

Crescent Investment Bank

First International Investment Bank

Atlas BOT Investment Bank

Security Investment Bank

Fidelity Investment Bank

Prudential Investment bank

Islamic Investment Bank

Asset Investment Bank

Al-Towfeek Investment Bank

Al-Faysal Investment Bank

City Corporation Investment Bank (Pak) Ltd.



HISTORY OF THE MCB BANK LIMITED

MCB is one of the leading banks of Pakistan with a deposit base of Rs. 368 Billion and

total assets over Rs.500 Billion. Incorporated in 1947, MCB soon earned the reputation of

a solid and conservative financial institution managed by expatriate executives. In 1974,

MCB was nationalized along with all other private sector banks.

The Bank has a customer base of approximately 4 million, a nationwide distribution

network of over 1,000 branches and over 450 ATMs in the market.

During the last fifteen years, the Bank has concentrated on growth through improving

service quality, investment in technology and people, utilizing its extensive branch

network, developing a large and stable deposit base.

Vision Statement



“CHALLENGING AND CHANGING THE WAY YOU BANK”

Mission Statement

To become the preferred provider of quality financial services in our country with the

profitability and responsibility and to be best place to work

Our Core Values



CUSTOMER FOCUS

We treat each of our customer equality & as the most important person while we interact

with him/her. We must ensure that we do everything to meet and exceed the customers

expectations with perfect to times, accuracy & quality services.

EMPLOYEE RESPECT & DIGNITY

We treat each of our employees with fairness, which includes giving constructive

feedback for their development. We celebrate diversity and seek suggestions from all

employees for improvement. We ensure that responsibility & fairness in all our decision-

making.

TEAM BASED APPROACH

QUEST FOR QUALITY

We ensure that each moment of our time is spent on value adding activity. We always

seek ways for exceeding expectations of customers & colleagues. We also ensure that we

do things right, first time every time.

Management Committee


We work towards achievement of our vision & mission as a combines group. We

encourage inter & intra-departmental communications. We treat our colleagues

as our internal customers & ensure that the requirements of internal customer

focus are always met.


Board of Directors



Mian Mohammad Mansha Chairman

S.M. Muneer Vice Chairman

Mohammad Aftab Manzoor President & Chief Executive

Tariq Rafi Director



Sheikh Mukhtar Ahmed Director

Mohammad Arshad Director

Shahzad Saleem Director

Mian Umer Mansha Director



ORGANIZATIONAL HIERARCHY OF MCB


PRESIDENT

EXECUTIVE VICE PRESIDENT

SENIOR EXECUTIVE VICE PRESIDENT

SENIOR VICE PRESIDENT

OFFICERS GRADE

I II III

VICE PRESIDENT

ASSISTANT VICE PRESIDENT

CASHIER

ASSISTANTS


MANAGEMENT LEVEL

The organization chart within a department and in different offices is as follows:

Divisional Heads ………..…………………… Head Office

Regional Head (EVP) ………..…………………… Regional Office

Zonal Head (VP) ………..…………………… Zonal Office

Branch Manager ………..…………………… Branch

(VP, AVP, GRADE 1, 2, 3)



ORGANIZATIONAL SETUP OF MCB

Euromoney Awards :


PUNJAB

NWFP & AZAD KASHMIR

SINDH

BALOCHISTAN

KARACHI

LAHORE

PESHAWAR

PROVINCIAL HEAD QUARTERS

QUETTA

HEAD QUARTER

CIRCLE OFFICES

BRANCH OFFICES

KARACHI


Best Bank In Asia Award 2008

MCB has been awarded as a Euromoney Award 2008 for the " Best Bank in Asia".

Best Bank In Pakistan Award 2006

MCB has yet again received the esteemed Euromoney Award for the “Best Bank in

Pakistan”. It is the only bank to receive the Euromoney Award for Excellence for the

sixth time in the past seven years.


MCB has again received the esteemed Euromoney Award for the “Best bank in

Pakistan”. It is the only bank to receive the Euromoney Award for Excellence for the fifth

time in the last six years.


In a continuous winning streak, MCB once again takes pride in being conferred with

Euromoney's prestigious award of excellence, for being the "Best Bank in Pakistan" for

the fourth time in the last five years.




MCB believes in you. Together we work with quality, integrity and dedication, striving

to achieve collective success by understanding changing trends and assimilating into

diverse cultures. Your trust in our ability and our commitment to deliver has again won

us the Euromoney Award 2003 for the "Best Bank in Pakistan".


Your trust and our commitment is always an award wining combination MCB was

awarded as a Euromoney Award 2001 for the " Best Bank in Pakistan".

Best Domestic Bank Award 2000

MCB was awarded as a Euromoney Award 2000 for the " Best Domestic Bank in

Pakistan".

The Best Domestic Commercial Bank Award 2005

MCB Continues to shine as once again Asia Money declares MCB as "The Best

Domestic Commercial Bank in Pakistan" for the year 2005.

The Best Domestic Commercial Bank Award 2004

MCB has a distinction of winning the Asia Money 2004 award for being "The Best

Domestic Commercial Bank in Pakistan".



MARKETING MIX OF MCB BANK LIMITED

Marketing is the task of creating, promoting and delivering goods and services to

consumers and businesses. Organizations identify and profile distinct group of buyers

who might prefer or require varying products and marketing mixes. The customer seeks

for value and satisfaction. The organizations can increase the value of the customer

offering in several ways e.g. raising benefits, reducing costs etc. marketing mix is a set of

marketing tools that the firm uses to pursue its marketing objectives in the target market.

These marketing tools are known as 4 p’s of marketing. These four marketing tools are

viewed as 4c’s by the consumers.

4 P’s 4 C’s

Product/ Service Customer Solution

Price Customer Cost

Place Convenience

Promotion Communication

To identify the customer needs and fulfilling hem is the basic objective of an

organization. Marketing is not just satisfying your customers, you have to delight them

and this can be done by acting upon this phrase.

“Under Promise and Over Deliver”

MCB Bank provides a winning combination of products and services to its prime

customers. It is one of the country’s leading commercial banks, which ensures complete

security, and reliability in all-financial transactions.



PRODUCT MIX & PRICES OF MCB BANK

1. MCB Rupee Traveler Cheque

MCB Rupee Travelers Cheques are as good as cash, infact

better. Better because with Rupee Travelers Cheques you have

the power to purchase and a feeling of security that should you lose them, you will get a

refund.

MCB Rupee Travelers Cheques are accepted at major shops, travel agents, hotels,

business establishments and MCB branches all over Pakistan. You don't have to be an

MCB account holder to buy the Rupee Traveler Cheques. Anybody can purchase them.

It's a safe and convenient way to conduct everyday business. At a time when thefts and

robberies are on the increase, you are better off carrying Travelers Cheques rather than

money.

2. Mahnama Khushali Scheme

A 5- year fixed Deposit Scheme, targeted to persons with small savings who would desire

a regular monthly return on their investment.

Salient Features

Minimum amount of investment shall be Rs.0.010m and the maximum amount of

investment would be Rs. 1.000m.



Khushali Certificates can be purchased by individuals (singly or jointly) or by the

Proprietorship/Partnership concerns or Companies, etc. in their name

The Khushali Certificate will be of five years maturity.

The interim rate of profit offered will be minimum 1% per month. If the profit

declared by the bank is higher, additional profit will be paid.

Zakat will be deducted wherever applicable on yearly basis whether you will be

receiving your profit or encashing your certificates.

As per Government Directions, tax on the profit / return is to be deducted by

MCB branches at the time of payment.

3. MCB Khushali Bachat Account

Salient Features

8% rate of return per annum.

Returns calculated on daily.

Average balance and paid half yearly.

Introduced first time in Pakistan.



4.Prime Currency Account Scheme

Launched to attract deposits in foreign currencies. US

Dollars, Pound Sterling, Euro and Japanese Yen.

Salient Features

Owing foreign currency account under the Prime Currency Scheme allows you to

earn attractive rates of interest in foreign currency.

You have a choice between opening this account in your personal name and

opening it under joint names.

Whether you are a resident or a non-resident Pakistan, MCB Prime Currency

Scheme invites all to operate a foreign currency account.

Foreign nationals and foreign companies can also open a foreign currency account

under the Prime Currency Scheme.

Your foreign currency account can be opened in four global currencies: The

United States Dollar, the Pound Sterling, the Japanese Yen and the Euro.

Travellers Cheques and Foreign Currency Notes can also be issued to holders of

persona! and Joint accounts.

Rupee Loan facility will also available against this account.

You can draw any amount of foreign exchange from your foreign currency

account and transfer or remit the amount freely to any part of the world without

any restrictions.



The restrictions imposed by the State of Pakistan for the opening of foreign

currency accounts in case of passport; Work-permit and resident Visa have been

withdrawn. Your account will be restriction free.

The Prime Currency Scheme is exempt from al! forms of taxes including Income

Tax, Wealth Tax and Zakat deductions.

MCB Prime Currency Scheme is a world in itself.

4. Hajj Mubarak Scheme

A saving scheme, of 2/3 years duration, for the convenience of persons, with a limited

income, who desire to perform Hajj was introduced.

Under the 2 years scheme, a monthly deposit of Rs.1800 is required, whereas under the 3

years scheme, the required monthly deposit is only Rs.1200

5. Capital Growth Certificate Scheme

For long term depositors under which the amount deposited almost doubles at the end of

5 years. For the scheme, the minimum amount of deposits is Rs. 10000 while there is no

maximum limit. In case of premature encashment of the certificate, the depositor will

profit at the same rates as that of PL Saving Account.

6. Fund Management Scheme



This scheme is offered to corporate and customers and is aimed at providing better rate of

return up to 15% per annum. One of the objectives of the scheme is to develop secondary

market for Government Securities.

7. Consultancy Services

In the process of privatization of public sector units, prospective buyers need professional

assistance and MCB, with its expertise, offers to them specialized service for valuation of

the market value of the industrial unit, preparing bid documents and arranging finance for

the purchase of the unit.

8. Self Supporting Scheme

For the benefits of genuine worker/borrowers who are poor and needy and for small

entrepreneur the bank as evolved a self supporting scheme: maximum amount of loan

Rs.25000 and minimum Rs.5000 per individual. Loan will be totally free of mark-up.

9. Fax Press

This product was first of its kind introduced by using modem

technology of The Fax Machine. It facilitates speedy transfer

of funds within Pakistan. The service guarantees transfer of

from one city to another, within an hour.

10. Night Banking Service



For the convenience of the account holder, service has, especially, been introduced at

busy commercial centers. Traders and other clients can now make deposit, with case, at

such centers up to 8.00PM.

11. Utility Bill Collection

With the aim of extending this service to wider range of customers, the number of MCB

branches collecting Utility Bills more than 900.

12. MCB Mobile Banking

At the forefront of technological excellence, MCB proudly introduces MCB MOBILE

BANKING*. The convenience of accessing account balance information and mini

statements whenever want or wherever may need them, with comfort and peace of mind.

MCB Mobile Banking service is available to all MCB ATM cardholders, 24 hours - 365

days.

MOBILE BANKING AT A GLANCE

MCB Mobile Banking gives easy and quick access to account(s) at a time find

convenient, including all holidays.

WITH MCB MOBILE BANKING



· Check balance

· View the last 4 transactions of your MCB account(s).

A FREE SERVICE

MCB Mobile Banking is a free service for MCB account holders who have an ATM card

of an SMS message if charged by the service provider.

BANKING AT FINGERTIPS

Dial in anytime to get information regarding balance and mini statements.

13. MCB Islamic Banking Services

Islamic banking services through exclusive units/branches offering a range of liability

and asset based Sharia compliant products like Musharika, Murabaha, Ijara and Istasana.

14. MCB Car Cash

Car financing and leasing at competitive rates with flexible options Car cash finances

both semi-commercial and non-commercial vehicles for personal and business use.

15. MCB Locker

The best protection for your valuables. Lockers of different capacities are available

nationwide



16. MCB Master Card

THE FUTURE OF MONEY

Since the beginning of time, people have tried to find

more convenient ways to pay, from gold to paper money and checks. Today, money is

moving away from distinct hard currencies and towards universal payment products that

transcend national borders, time zones, and, with the Internet, even physical space.

Plastic or "virtual" money, credit, debit, and electronic cash products, inevitably will

displace cash and checks as the money of the future.

MasterCard International has expanded globally in more locations in the world than any

other card. The card was introduced by MCB Bank Limited in 1995 and now offers card

members over 15 million outlets in 232 countries.

Photo security- The first bank in Pakistan to introduce the enhanced feature of

photograph on the card limiting fraud in case of card loss.

Welcomed at over 3, 000 outlets in Pakistan.

Provides up-to 45 days Free Credit.

Joining and Annual Fees to suit you.

24 Hour Customer Services- Call 111-700-700 and you can get information

from our customer services representatives

on new card application or have your queries resolved anytime of the day.



Cash Advance Facilities

Available in Pakistan and worldwide with a network of over 1,000 branches and a

team of dedicated professionals, MCB is Pakistan’s largest private sector commercial

bank.

Our Consumer Banking provides customers with innovative saving schemes, products

and services. Our ATM network is the largest in Pakistan and our Pak Rupee Travelers

Cheques are market leaders. We were the first to introduce the photo card with the

introduction of the MasterCard.

Our Corporate Banking ensures assistance from a dedicated team of professional

financial advisors for underwriting, project finance or corporate advisory services.

When it comes to banking practices, you can depend on us. We’ve been around for over

fifty years.

17. MCB Smart Card

MCB now brings you MCB SmartCard -a secure and

convenient instrument of payment with unmatched

functionalities. It provides 24-hour direct access to your bank

account

The convenience and flexibility of MCB SmartCard will help live a smarter life. It not

only helps you manage your expenses, but also avoids undue interest on your day to day

credit card transactions.

Your balance is always within your reach and you spend accordingly.



MCB is the only bank to introduce a debit card that gives the option to choose from

domestic and international card for local and global usage respectively

18. Remit Express

Fastest to Pakistan. Anywhere in Pakistan.

The fastest way of getting your money across to Pakistan.

Remit Express offers low cost remittance from U.A.E. and

Saudi Arabia. Your relatives, friends or business associates receive drafts within 72

hours.MCB Remit Express has been specifically designed to meet the needs of the

expatriate Pakistani community residing in the Gulf countries.

19. Easy Personal Loan

Helping You Do More

MCB Easy Personal Loan provides you with the financial advantage to do things you've

always wanted to but never had the sufficient funds for. Take that much-needed holiday.

Buy a car. Refurnish your house. Purchase a new TV. Finance a better education for your

children.

Salient Features

MCB will lend you any amount, from Rs 30,000 to Rs 490,000, depending upon

your net monthly income

You can choose tenure of 1 to 3 years for the repayment of the loan



Bank to Bank Balance transfer

Credit Card balance transfer

Loan Protector Shield- insurance coverage of balance loan amount in case of

death or permanent and total disability

Availability of early repayment option

Repayment Arrangements

Repayment of principal and mark-up is monthly and can repaid using either one

of the following modes:

Direct Salary Transfers

Payroll Deduction

Eligibility Criteria

Minimum net monthly income Rs 10,000

25 to 55 years of age

Pakistani national

At least 2 years of employment with current employer.

Processing fee of 1% of the principal loan amount to be charged at the time of

loan disbursement.

20. MCB Pyara Ghar

MCB gives dream home at the lowest and best possible

mark-up rates. You can choose either one of our two

mark-up rate options- fixed or variable.



Early repayment option tailor-made to allow making partial prepayments at dates that

suit.

Who Can Apply

Anyone who fulfills the following criteria is eligible to apply:

Pakistani national residing in the city and area where the product is launched.

25 years old or above when you apply and under 60 at the time of maturity of the

applied financing period.

Salaried person, self-employed professional or a businessman with a verifiable

monthly income stream.

Net take -Home income not less than Rs. 25,000 per month.

Have 5 years or more of business or professional experience.

Employed with the present employer for 2 years with a total employment history

of 5 years.

Home Purchase Home Renovation Home Construction

Tenure 3 years to 15 years 2 years to 5 years 3 years to 15 years

21. MCB Virtual

MCB Virtual provides the continence of banking on internet.

Whether at office or home or traveling. Log on at



www.mcb.com.pk and enjoy 24 hours access of all your accounts for the largest array of

service.

22. MCB Business Sarmaya

MCB Business Sarmaya is a running finance against your residential

property. It offers running finance up to 20 millions with low markup.

23. MCB Car 4 U

MCB car 4 u auto finance is a power move that gets you not only a

car of your own choice but leads you best in life. It is affordable with competitive

markup, flexible conditioning and easy processing and above all no hidden cost.



FIELDS OF ACTIVITIES

The purpose of banks is to provide some services to the general public. And for this

purpose different banks provide different services to the people in different forms. The

MCB Bank is a commercial bank, in modern time commercial banks play a very

important role and their functions are manifold. The main functions and services which

MCB Bank Limited provides to different peoples are as follows.

1) Open Different accounts for different peoples

2) Accepting various types of deposits

3) Accepting various types of deposits

4) Granting loans & advances

5) Undertaking of agency services and also general utility functions, few of those are

as under

Collecting cheques and bill of exchange for the customers.

Collecting interest due, dividend, pensions and other sum due to customers.

Transfer of money from place to place.

Acting an executor, trustee or attorney for the customers. ‘Providing safe

custody and facilities to keep jewellery, documents or securities.

Issuing of travelers cheques and letters of credit to give credit facilities to

travel.

Accepting bills of exchange on behalf of customers.

Purchasing shares for the customers.

Undertaking foreign exchange business.

Furnishing trade information and tendering advice to customers.



For proper functioning of branches and the over all bank has been divided in different

departments. These departments handle different jobs so that division of work is there for

improvement of functions and also it is easy to control the situation. The general division

in a branch is as follows:

1. Cash department

2. Deposit department

3. Advances & credit department

4. Remittance department

5. Foreign exchange department

6. Technology department (new addition in order to cop with the growing needs

of day to day technology requirements)

CASH DEPARTMENT

The following books are maintained in the Cash Department:

Receiving Cash Book

Paying Cash Book

Token Book

Scroll Book

Cash Balance Book



When cash is received in counter, it is entered in the Scroll Book and Receiving Cashier

Book. At the close of the day, these are balanced with each other.

When the cheque or any negotiable instrument is presented at counter for payment, it is

entered in the token book and token is issued to the customer. The token clerk and the

Cashier make entries in the paying book and payment is made to payee. At the close of

day, the Token Book and Paying Cashier Book are balanced.

The consolidated figure of receipt and payment of cash is entered in the cash balance

book and drawn closing balance of cash.

Opening Balance + Receipts - Payments = closing Balance.

This is very important department because cash is the most liquid asset and mostly frauds

are made in this department, therefore, extra care is taken in this department and nobody

is allowed to enter or leave the area freely. Mostly, cash area is grilled and its door is

under supervision of the head of that department. All the books maintained in this

department are checked by an officer.

DEPOSIT DEPARTMENT

Bank deals in money and they are merely mobilizing funds within the economy. They

borrow from one person and lend to another, the difference between the rate of borrowing

lending forms their spread or gross profit. Therefore we can rightly state that deposits are

the blood of the bank which causes the body of an institution to get to work. These

deposits are liability of the bank so from point of view of bank we can refer to them as

liabilities.



The total deposits of MCB are growing since its inauguration but after privatization there

is a sharp incline in over all deposits of the bank. The increase in deposits is also a cause

of increase on total number of accounts; bank has progressed in both aspects.

TYPES OF DEPOSITS

Deposits can be segregated on two bases, one is the duration in which there funds are

expected to be with the bank and second is the cost of getting these funds. So divide

deposits in two classes according to duration of deposits i.e.

1) Time deposits / liabilities

2) Demand deposits / liabilities

And on the basis of the cost to acquire these funds, a deposit can be classified as any one

of following four, High Cost Medium Cost, Low Cost No Cost.

Banks has different kinds of deposit schemes in order to induce deposits. These schemes

are a mixture of the above mentioned two types of deposits with an addition of different

services & requirements such as minimum balance' requirement, mode of transaction,

basis for calculation of profit, deductions, additional benefits, eligibility for different

groups.

In the similar fashion, MCB has a large variety of deposit schemes and some of them are

as follows:



CURRENT ACCOUNT

In this type of accounts the client is allowed to deposit or withdraw money as and when

he likes. He may, thus, deposits or withdraws money several times in a day if he likes.

There is also no restriction of amount to be deposited or withdrawn. However, there is

requirement of minimum balance maintenance of Rs. 1000/-. Usually this type of account

is opened by the businessmen. No profit is paid by the bank and no service charges are

deducted by the bank on current deposits account. These types of deposits are also

exempt from compulsory deduction of Zakat.

PLS ACCOUNT

This type of account is for those persons who want to make small savings'. This type of

account is opened with a minimum deposit of Rs. 1000/-. Under this scheme deposits can

be made only up to a-costing amount and withdrawals are allowed twice a week or 8

times a month. If a big amount is required a seven days notice is required before the

withdrawal. The profit is paid on these accounts on the minimum balance during a month

for the whole of

that month. Zakat & other withholding taxes are deducted as per rules of the government.

KHUSHALI BACHAT ACCOUNT

This is an advance form of PLS saving a/c, in this type of account. The minimum

balance requirement for this type is Rs. 2500/-. There is also restriction on the number of

withdrawals as well, i.e. up to 4 times in a calendar month. For maintaining this extra

balance the customer gets the benefits of profit calculation on daily product basis and



also free service of standing instructions of paying utility bills and HBFC installments.

All other rules of saving account are applicable.

PLS 365 GOLD

This is a special type of saving account in which customer maintains a minimum balance

of Rs. 300,000- and in turn he gets the benefits of daily profit calculations and also there

is no restriction on the maximum number of withdrawals as was there in the case of

KBA. There is also another advantage of this scheme that if balance on a particular day

falls below the minimum balance then only the product of that day is ignored whereas in

KBA, if balance falls below the minimum limit then all the products for that month are

ignored on in other words no profit is paid for that month.

Khaunm Bachat Scheme

This is a type of term deposit, in this type of deposit an account is deposited and monthly

payments of Rs. 1000/- are made by the account holder in this account for a minimum of

10 years. After

the expiry of term, he receives his funds along with profit for the tenor. The distinctive

feature of this product is that profit is calculated on monthly basis and charged to account

on end of each half /ear. Then profit is also calculated on that amount of profit which is

credited to the customer's account. So we can say that in this type of account there is a

concept of accumulated profits on profit. This ends in getting a heavy return for the

depositor at the end of tenor for his small savings. This product was actually introduced

to promote saving habits in the people. Zakat and withholding taxes are deducted as per

rules only at the time of maturity while making payment to the customer.



Term Deposits Receipts

This is a type of term deposit in which a receipt is issued for varying tenors ranging from

1 month to 5 years or more. These are in the form of receipts and profit on these receipts

is paid biannually. These receipts are encashable after expiry of the period for which they

were issued. Different profit rates are applied to different type of TDRs.

Under this deposit scheme, a deposit is received from the depositor under the condition

that he will intimate the bank before a certain period in case of withdrawals.

FUNCTIONS OF DEPOSIT DEPARTMENT

This was a brief review of different types of deposit schemes. The Deposit Department

handles the account opening, profit payment and accounting of all types of deposit

schemes.

Account Opening

Account opening is an agreement in which customer offers his funds and bank accepts

these funds, therefore the nature of relation between a banker and customer is of a

contractual one and all the conditions applicable to this contract act are also applicable.

Profit payment & calculation

Profit payment & calculation is done in accordance with the rules of each type of deposit

scheme-by the deposit department. The products for each deposit scheme are calculated

separately and added till the end of 6 month period. Then the sum total of these products

is multiplied with the respective profit rates which are issued by the Head Office at the

end of each half yearly closing. The profit provisions for each type of deposits are also

calculated on monthly basis by the same department in order to calculate the net profit or

loss position of the branch.

Accounting Entries



Accounting entries are also made in the respective books of account by this department.

However, in small and medium size branches, the accountant performs the book keeping

duties for all kinds of ledgers.

CLEARING DEPARTMENT

Every banker acts both as a paying as well as a collecting banker, It is however an

important function of crossed cheques. A large part of this work is carried out through the

bankers clearing house.

A clearing house is a place where representative of all banks of the city get together and

settle the receipts and payment of cheques drawn on each other. As the collecting banker

runs certain risks in receipt of their ownership the law has provided certain protections to

the banks.

The Negotiable Instrument Act, 1881, lays down hat drawer or holder of a cheque or

draft may cross the instrument generally or specially. It further lies down that a crossed

cheque can only be paid to a banker, who collects it for a customer in good faith and

without negligence.

Types of Cheques

Transfer cheques: are those cheques, which are collected and paid by the

same branch of bank.

Transfer delivery cheques: are those cheques, which are collected and

paid by two different branches of the same bank situated in the same city.



Clearing cheques: are those cheques, which are drawn on the branches of

some other bank of the same city or of the same area, which is covered by

a particular clearing house.

Collection cheques: are those cheques, which are drawn on the branches

of either the same bank or of another bank, but those branches, are not in

the same city or they are not the members of clearing house.

Functions of Clearing Department

To accept Transfer, Transfer delivery, clearing and collection cheques from the

customers of the branch and to arrange for their collection.

To arrange the payment of cheques drawn on the branch and given for collection

to any other branch on MCB or any other members or sub member of the local

clearing house.

To collect amount of cheques drawn on members, sub-member of local clearing

house, sent for collection by MCB Branches, not represented at the local clearing

house

Receiving and scrutinizing the cheques and other deposit instruments, and the

pay-in-slip at the counter.

Fixing the stamps.

Scrutiny and receipt by the authorized officer.

Returning the counter file to the depositor.

Certificate and confirmation by the officer in charge of the department. ,

Separating the cheque into transfer, transfer delivery, and clearing cheques.



CLEARING PROCESS (FLOW CHART)


Cheque with slip given

Cheque along with slip checked, signed & received by officer

The same day not honored cheques are returned to Main Branch

The day after tomorrow the banks are informed about dishonored cheques

Provisional entries for returned cheques are debited again in both computer & daybooks

Party is informed about returned cheques through Phone or personal contact

Cheques are mailed through TCS in case of no personal contact the same day

(If there is any availability)

Slip is asked & filled

Entries in daybooks are made

Entries checked & verified by another officer after banking hours by officer

Cheques collected at the day end by Main Branch’s Officials

Cheques are sent to respective banks next day after posting in computer by

Main Branch


ADVANCES DEPARTMENT

Advances are the most important source of earning for the banks. MCB is also giving full

attention towards this aspect and it is also obvious from the growing portfolio of

advances and from very low delinquency rate. The credit portfolio of this institution is in

a very much better shape than other financial institutions of Pakistan and the credit goes

to the management and the staff who are concerned about the quantity and quality as

well.

Loans

Cash Credits

Overdraft

LOANS

Loans are monetary assistance by a financial institution to a business, individual etc. The

loans are granted by the bank in lump sum, so these types called fixed or demand loans.

Interest is charged on the whole amount of a fixed loan.

The borrower withdraws whole the amount of loan. This type of loan is normally granted

against security of gold documents.

In case of demand loans against gold or documents, a demand promissory note for the

amount of loan is taken from the borrower loans are granted under;



LOAN AGAINST GOLD

Under this type of loan, which is granted to the borrower the Head Cashier estimates the

value of Gold or Gold ornaments through an agent (Gold smith) and keeps a margin of 40

to 50 percent. After the opening the gold loan account a token is given to the borrower,

which is a bank receipt.

On repayment of loan, the gold or ornaments held as security for it, together with the

demand promissory note duly discharged is returned to the borrower and his receipt for

the gold ornament taken in the demand loan ledger. This receipts states that he ornaments

returned are complete and in order. Part delivery of ornaments is given against part

payment of a loan but care is taken that the ornaments still in banks possession fully

covers the balance of the loan outstanding. The interest gold loan is to be applied with

quarterly.

LOAN AGAINST PLEDGE OF STOCKS

In case of advancing such types of loans, the following precautions are kept in the mind:

Stock pledged must be readily saleable

Products should be readily saleable

Advance should be within the borrows means



REQUIREMENTS OF LOAN

For granting loan to any party or individual, the bank checks following particulars of the

client:

Credibility

Feasibility Report

By Credibility, bank Judges the credibility of the client by his past bank record, CBI

report etc. it is very important in making decision about giving him loan.

Feasibility report is on the running or proposed business of the client. The report

enables the bank to judge the likely return of the business.

CASH CREDIT

Such cash account is opened in the name of the customer who borrows from the bank.

Customer is granted a loan up to a certain limit, sanctioned by the head office, from

which he can draw when he requires and interest is charged on the amount actually

utilized by the customer. In order to avoid the danger of idle fund, the bank charges a

certain rate of interest, even if the customer does not withdraw any amount. The rate

charged by the bank on cash credit in 46 paisa per thousand on daily basis.

The credit is usually given against the securities of goods or merchandize as follows:

ADVANCE AGAINST PLEDGE OF STOCKS

When cash is granted against the pledge of stock or product, cash credit form is taken,

from the certain products or stock,



but the actual pledge is created when the stock or finished products are placed under the

bank's lock or the document of title is duly endorsed to the bank by the borrower.

HYPOTHECATION OF STOCKS

The difference between pledge and hypothecation is that under a pledge the borrower's

goods are placed in the bank's possession under own lock, whereas, under a

hypothecation, they remain in the possession of the borrower or guarantor and are merely

charged to the bank under documents signed by them. Even though the documents

empower the bank to take possession of the goods hypothecated, but it is possible that the

borrower may actually resist any attempt.

MORTGAGE OF PROPERTY

Title deeds of immovable property are accepted by the bank only as collateral security or

alternatively as unauthorized security.



REMITTANCE DEPARTMENT

Remittance department performs following functions:

Mail Transfer (MT)

Telegraphic Transfer (TT)

Demand Drafts (DD)

MAIL TRANSFER (MT)

When a customer requests the bank to transfer his money from one branch of bank to

another branch of the same bank or from one city to another city to the same bank or any

other bank. Customer fills the form given by bank. If the customer has an account with

that amount as mentioned in the application form then concerned officer will undertake

the following procedure to make the mail transfer complete.

1. Branch Mail transfer form

2. Receiving Branch Register copy

3. Issuing branch register Copy

4. beneficiary advice

5. advice to customer

In case where the customer is not account holder of the bank then the customer will have

to deposit the amount which he wants to transfer under Mail. Then the above said

procedure will be done.



TELEGRAPHIC TRANSFER (TT)

This type of transfer is simple. After filling the application form the concerning officer

shall fill the telegraphic transfer form. Then it is sent to the required bank which on

receiving it immediately makes the payment to the customer and afterwards the voucher

are sent to that bank by ordinary mail.

DEMAND DRAFT (DD)

Demand draft is just like cheques and issued when the customer wants to take cash with

him personally. The idea behind is to avoid the risk and burden of currency notes in huge

quantity. Demand draft can easily be handled whatever amount it has and the money can

easily be taken from the bank when it is presented. In fact, the bank persuades the

customer to transfer money by drafts and avoid the risk of frauds involves in MT and

T.T. Draft is only issued when the bank knows customer and bank has the confidence in

him

In case of transfer of money by drafts, the customer has to fill an application form. Then

the concerned officer fills the following forms:

1. Customer’s advice

2. Customer’s debit form

3. Register copy

4. Cover Advice



TECHNOLOGY DEPARTMENT

Technological advancements are also affecting the banking industry. The foreign banks

have a competitive edge over all local banks in their technologies' advancements and

automated systems. Local banks have also realized the gravity oil this situation and are

striving to add computerized systems to their branches

MCB is ahead of all other local banks in this field and now it is in a position to even

compete with foreign banks. There are more than 1045 branches of MCB all over

Pakistan and out of these more than 300 branches are fully computerized Almost all .the

branches of big cities are computerized; therefore, the need for a technology department

at each branch is growing. Now a day, a computer division is working in each city to

provide service to ad the branches of that area.

MCB has also introduced the now concept of online banking. There are now more than

250 branches linked through this system and they can transact with each other directly

using computer systems at their own branches. Now customers do not have to wait long

for their transactions and can operate their account through all the online branches.

ATM NETWORK

ATM stands for Automatic Teller Machine. This machine is used to transact in one's

account without intervention of humans. These machines are basically used for taking

cash, confirming balances and requesting statements / cheque books.



MCB has the largest ATM network in the country at the moment with almost one ATM

at each online branch and also ATM terminals at International Airports. This network

covers more than the 27 cities of Pakistan including the provincial capitals and large

commercial cities of the country.

ATMs are operated through a card issued to the valued customers and by application of

Personal Identification Number (PIN number). A person can withdraw from any machine

across Pakistan with having an account in only one branch of MCB. This was only

possible with the help of online system. In this system all the machines are linked to

central banking host at IRM division Karachi through either satellite or telephone

controller. This system identifies the card holder and his PIN Number.

Now MCB has also entered into a contract with Cirrus which is a subsidiary of

MasterCard. This contract will enable an ATM card holder to use his account even

when he is out of country at all the ATMs where Cirrus logo is displayed.

Green Cards are ordinary cards with a maximum withdrawal facility of Rs.

10,000/- in a day. The annual fee for this card is Rs. 300/- only.

Gold Cards are special cars with maximum withdrawal limit of Rs. 25000/- in

a day. These cards are issued to the persons having more than Rs. 500000/- as their

average balance.

International Cards are issued in collaboration with Cirrus and are useable all

over the world with maximum withdrawal facility according to the standards of Cirrus.



INFORMATION ABOUT MY BRANCH

I did my internship in MCB Bank Limited The Mall Branch. Some important information

about my branch which I observed is as follows:

MANAGEMENT OF THE BRANCH

Branch Manager Junaid akhtar Butt

Operational Manager Muhammad Imran

Accountant Fozan ul Qamer

Credit Manager Farruk Afrooz

Forex Manager Majid Iqbal

Chief Cashier Khursheed Ahmed

Cashier Muhammad Usman

Billing Cashier Miss Farwa Asif

CSO Miss Kanwal



WORK DONE BY ME

During my internship in the MCB Limited, I really enjoyed to work with the staff of

Branch, The Mall, Lahore , and have a wish to be employee of MCB. It was almost

impossible to work in all the departments within that limited time. But on my request, the

staff of the branch provided me the opportunity to work in the different departments for

the sake of practical knowledge. I am really very thankful to branch manager Mr. Junaid

Butt that provides me a learning environment in the branch.

During my internship training in the MCB as I early mentioned that I have worked in

different departments & seats and learnt the followings.


FIRST

TWO

WEEKS


ACCOUNT OPENING DEPARTMENT

Account opening and closing is the function of accounts departments. Bank’s customers

may be individuals (Single or Joint), firms (partnership/proprietorship), Autonomous

corporations, Limited Companies, Charitable Institutions, Associations Educational

Institutions or Local Bodies.

BASICS TO OPEN AN ACCOUNT

During the span of mine internship in MCB, I learned and observed a lot of about the

opening of an account. Basically I think that the opening of an account is the

establishment of a contractual relationship between the banker and the customer. By

opening an account at a bank a person becomes a ‘customer’ of a bank. Further I am

going to express the basic requirements and steps involved in the opening of an account.



INTRODUCTION AND PRELIMINARY INVESTIGATION

Before opening an account MCB as like the other banks in Pakistan ascertain whether or

not the person who is going to open the account is a desirable customer or not. Then

MCB determine the prospective customer’s integrity, respectability, occupation and the

nature of business by the introductory references given at the time of account opening.

Negligence in this informal preliminary investigation may result in serious consequences

not only for the banker concerned directly but also for other bankers and the general

public who may be affected indirectly.

In order to further strengthen and streamline this process, the Federal Ombudsman of

Pakistan, vide his ruling on complaint No. II/31/5186, has directed the banks to retain

with the account opening form a Photostat copy each of the National Identity Cards of the

person desiring to open an account as well as that of the introducer. As per these

directions, the concerned Branch Managers are required to obtain the original National

Identity Cards along with their Photostat copies and then return the original after attesting

the authenticity of the retained copy.

Preliminary investigation is necessary because of the following reasons:

Avoid Frauds: In this regard I learned that if a banker does not make the necessary

inquiries mentioned above he may enable dishonest persons to possess cheque books for

fraudulent purposes. If any such person happens to be an undercharged bankrupt, the

banker might be placed in an awkward position for having allowed such a person to open

and open a bank account.



Safeguard against unintended overdrafts: Sometimes due to a mistake an account may

be given an overdraft, For instance, the ledger keeper, misreading the balance of an

account honors a cheque for an amount larger than the balance. Similarly a credit entry

belonging to a customer may be made by mistake in another customer’s account. In such

situations the excess amount withdrawn by the customer can only be realized if the

customer is a respectable person.

Inquiries about clients: Being a banker I think MCB has a business obligation to

respond to inquiries from other banks etc. about his customer’s financial position.

Though the banker gives only a general ideal about the financial standing of his

customer, it should nevertheless have the necessary information available with him.

Specimen Signature

When an account is opened with MCB customer provides to the bank a specimen of the

form of signature which would appear on all his cheques to express his authority for the

payment of cheques drawn on his banker. This specimen is taken generally on a card

specially designed for this purpose, and rule for the customers, full name, and account

number are entered on it.

If the bank has reasons to doubt the genuineness of a signature, he should either get it

confirmed for his satisfaction or return the cheque with the remark ‘Signature differs’. If

the signature of the customer is forged the banker cannot escape his liability because he

has actually acted on his customer’s mandate.



HOW TO OPEN AN ACCOUNT (GENERAL)

Before opening an account in MCB I observed that the following points must be

considered in this regard.

Another account holder of the bank should properly introduce the new customer.

The account holder should sign the account opening form in the presence of bank

officer and the signature is duly verified.

A copy of identity Card is required by Bank.

Against submission of the Bank’s prescribed application form, duly introduced in

the manner provided and on supplying such document, as may be required and

account may be opened. The Bank reserves to itself the right to refuse to open and

account without assigning any reason.

Each account shall be allotted a distinct number that is to be quoted in all

correspondence with the bank relation to the account.

PROCEDURE TO OPEN AN ACCOUNT

According to my practice in MCB, when a customer wants to open an account, the bank

officer gives him an application form. All information, which is necessary to be known

by the bank, are requirements of the application form. Form also requires the essential

documents to be attached by the customer.

Basically following information is required to open an account with MCB.

Title of Account

Full Name of Applicant



Occupation

Address

Telephone No.

Currency of account

Nature of Business

Introducer’s Name, Address & Signatures

Special instruction regarding the account

Initial Amount of the Deposit

Signature of the applicant

DOCUMENTS TO BE ATTACHED

Further I learned that if you wanted to open an account with MCB then you should attach

the following documents with your application form which are different for different

categories.

SOLE PROPRIETOR’S ACCOUNT

In order to open an account with MCB Sole Proprietors have to submit their business

registration certificate number.

PRIVATE / JOINT ACCOUTS

For individual or private or joint accounts National Identity Card is required.



JOINT STOCK COMPANY

Before an account of a Public Limited Company is opened MCB must ask the person

authorized to do so to submit the certified copies or the following documents

Certified true copy of the Memorandum and Articles of Association of the company.

Certified true copy of the resolution of the board of directors / managing committee /

governing body regarding conduct of the account.

Certified list containing names and signatures of the directors / office bearers.

Certified true copy of the certificate of incorporation or registration.

Certified true copy of the certificate of commencement of business (in case of public

limited companies).

Balance Sheet

I.D. Card copy of each director

Original is also enclosed for inspection and return

List of persons authorized to operate the account.

Power of Attorney in favor of the person opening account.

PARTNERSHIP FIRM ACCOUNT

Information which is required to be submitted to MCB by a partnership firm in this case

is as follows:

Full Names

Address

Specimen of signatures of the partners



Certified true copy of partnership deed

Registration No. if the Partnership is registered

SOCIETIES / CLUBS AND ASSOCIATIONS ACCOUNT

MCB is authorized to open the accounts of the societies/clubs and associations, These are

non-trading organizations, formed for the promotion of culture, science, education,

recreational activities and charitable purposes etc. some of these institution are registered

under the Societies Registration Act, 1866, and are issued a certificate of registration

after they have been found fit for registration.

ISSUANCE OF CHEQUE BOOK

When a customer opens an account with the bank, he is provided with cheque book for

withdrawals from account. However, the first cheque book is given to the customer only

when all the required documents are checked. A cheque book contains ten, twenty five,

fifty or hundred leaves. The cheque book also carries a requisition slip for the issuance of

the new cheque book. This slip is duly filled and singed by the customer. The signature of

the customer is verified by the bank and new cheque book is issued to the customer and

serial numbers of the cheque are duly entered in the book of the bank. Along with the

signature, person should also write his full name & address.

Usually only one cheque book is issued at a time, however big concerns who need a

number of cheque books at a time, may ask the bank to stock as number of cheque books

in their name and to point their name on these cheque books.

Bank debits the client’s account for excise duty of Rs.2.50/- per cheque and keeps the

cheque book ready for the customer, as on his advice.

The officer keeps and maintains the cheque book register Cheque book inventory and

cheque books issued are recorded in this register. The account number for which the

cheque book is issued and the number of leaves are also recorded in this register when the

cheque book issued an entry is passed in the cheque book issue register.


THIRD

WEEK


In case of loss of cheque book or requisition slip on cheque book the customer has to fill

the Form No. 216-B to obtain a new cheque book.

UTILITY BILLS COLLECTION

I worked in the utility bills collection department as the MCB collects utility bills on

behalf of WAPDA, Sui Gas Companies, and Pakistan Telecommunication Corporation

Limited by putting the stamp on the utility bills “Paid”, Date of payment, Signature of the

officer receiving the utility bills. After receiving utility bills a list is made on the form

which is called Bills scroll form. One copy of the scroll is with the bank for evidence

whereas the original copy with the receipt of the bills is sent to the billing department of

the respective corporation. The bank charge commission on the bills.


FORTH

WEEK


CASH MANAGEMENT

The most important department of MCB which deals in money (receiving deposits at

lower rates and lend them out at higher rates of interest). This department also called as

Chest Department and manager of it is called Cash Manager or Chest Manager. In those

branches where this department is not separately existed, the branch manager performs

the duties of the Chest Manager.

The excess cash (More than its insured limit by the insurance company) of the branches

of the region is collected by the main branch. The main branch is also bound to send its

excess cash (more than its insured limit) to the State Bank of Pakistan. No branch can

have cash its safe more than its insurance at any time at the time of closing cash, if it is so

the manager will be responsible (not the insurance company) whether or not he informed

to the regional office (exception to the limit which is insured for the day).

New Notes and Prize Bonds are also part and parcel of the Cash Management. Keys of

the Safe lockers are with the three authorized persons each one of them is responsible for

cash as at the time of closing the cash the officers including Cash officer presented and

lock the safe after counting and scrutinize the cash. The cash officer maintain its daily

cash book with specification of notes (Bonds are also recorded in the books in

relation with cash) and other vouchers, after being satisfied the manager authenticates the

books and vouchers regarding cash with stamp and signature. at the end I would like to

conclude that the cash management is being done in the MCB very effectively.


LAST

TWO

WEEKS


ADVANCES DEPARTMENT

On my first day of Internship, Manager gives me some advice and told me the ways to

success. He told me that if some one wants to get success in banking career then he must

have the knowledge of the one major department of the bank. I.e. Advances. So from

very first day I was interested to work in advances department and at my request bank

offer me opportunity to work in this department last two weeks

Bank adopts the following procedure in order to grant a loan. A customer applies for a

loan to the manager, who says him to give details of his property. The details of the

proposal and the photocopies of the document to the title of property are sent to the legal

advisor of bank. The legal advisor gives his legal opinion upon the documents. The

branch manager, in the light of the opinion received from the legal advisor, discusses the

proposal with the advancing manager whether to give or not the loan to the applicant. If

manager allows granting the loan all the documents along with request letter are sent to

regional office for approval. In the regional office the proposal is analyzed and if the

office is satisfied a consent letter prepared which is signed by the regional controller

credit. This letter is sent to the branch manager. After receiving it the manager finance

reviews the consent letter, and prepares a DAC (Disbursement Authorization Certificate).

DAC can be made only for people who have a bank account.

.



RECOMMENDATIONS

From the Quantum of the profit and its financial data it can be easily judged that after

privatization, MCB is performing well. Its deposits are growing day by day and so its

profitability. The controlling body is responsible for the productive performance of the

Bank.

Following are my observation and suggestion to improve the efficiency for the

development of the bank.

.

There is another recommendation about the bank that there is no proper timing of

the bank and there is made an unnecessary delay in the banking transactions,

which might not be a good sign for the bank from future prosperity point of view.

Staff turnover particularly of trained staff result in financial and other losses. The

amount spent by the bank on employment, induction and training of outgoing

officers constitutes to beat till another officer should ready prove this work. The

exodus of bank officer in the past has worsened the situation.

Most of the bank employees, are sticking to one seat only with the result that they

become master of one particular job and loose their grip on other banking

operation. In my opinion all the employees should have regular job experience all

out-look towards banking. The promotion policy should be adjusted.

Refresher Courses for the staff are most important in any international



organization. Alt the employees should have these courses according to their

requirement. Foreign experts can also be called for this purpose.

Every year some of the employees should be sent for training to other countries

and employees from other branches should be brought here. Some more reading

material should be provided. The purpose should be to

Educate the employees with the advance studies in their field. The employee should

be provided the opportunities to attend and participate in seminars and lectures on

banking.

Bank should give some more incentive to its employees in order to remove the

conflict between lower and higher officers and should try to improve the working

condition of the bank.

As such system should be designed that every employee who has some problems

with his officers can communicate it to the higher management and some steps

must be taken to improve that.

Recruitments should be strictly on merit basis and induction should be after

proper and extensive training.

Old and lazy staff should be replaced by young, qualified and energetic staff.

Foreign branches should be opened in order to capture the international market

and to earn international repute for the bank.

Working environment, equipment, furniture and staff dressing should be

according to the modern banking style.

Proper attention should be paid to upgrade customer services.

Bank should adopt the global organizational banking structure to meet the

international standards of banking sector.


Zeeshan Internship Report

Documents