Following privatization in 1997, Bank Alfalah emerged as the new identity of Habib Credit and Exchange Bank. It is now owned by an Abu Dhabi consortium led by Sheikh Nahayan Mabarak Al-Nahayan. The bank has invested in new technology and products like Royal Profit and Royal Patriot to better serve customers. It aims to continually develop new products and services through ongoing assessment of customer needs. Bank Alfalah is committed to expanding its network of branches across major Pakistani cities to improve access to services and eventually expand internationally.
Following privatization in 1997, Bank Alfalah emerged as the new identity of Habib Credit and Exchange Bank. It is now owned by an Abu Dhabi consortium led by Sheikh Nahayan Mabarak Al-Nahayan. The bank has invested in new technology and products like Royal Profit and Royal Patriot to better serve customers. It aims to continually develop new products and services through ongoing assessment of customer needs. Bank Alfalah is committed to expanding its network of branches across major Pakistani cities to improve access to services and eventually expand internationally.
The document provides an overview of Bank Alfalah, including its vision, mission, philosophy, management structure, financial performance, branch network, services, competitors and the author's experience working in different departments during their internship. Key details include growth in deposits, advances, assets and profits from 2000-2001, 38 existing branches with plans to expand to 45 branches, and competitive services like online banking, ATMs and personal loans.
This document provides an overview of Bank Alfalah including its definition, vision, mission, products, departments and accounting practices. In 3 sentences:
Bank Alfalah is an Abu Dhabi based commercial bank operating in Pakistan with over 100 branches. It offers various personal and business banking products and services through departments like operations, credit, accounting and remittance. The accounting department prepares financial statements, tracks assets, liabilities, income and expenses, and ensures compliance with accounting standards.
HBL (Habib Bank Limited) is one of the largest banks in Pakistan with over 1439 branches. It was established in 1941 and was later nationalized in 1974 before being privatized in 2004. The document provides an overview of HBL's history, mission, objectives, core values, organizational structure, products/services offered, and SWOT analysis. It details HBL's various departments and how authority is delegated down its hierarchical chain of command from the President to various executive vice presidents and regional offices.
Bank Alfalah Limited was incorporated in 1992 and commenced banking operations in 1997. It is owned by the Abu Dhabi Group and is the sixth largest bank in Pakistan with over 500 branches. The bank provides various financial products and services including consumer banking, corporate banking, Islamic banking and branchless banking services. It recently rebranded in 2015 by changing its logo and color scheme. The document discusses the bank's vision, management team, products, services, branch network, CSR initiatives and SWOT analysis.
The document discusses the internal and external environments of Bank Alfalah Limited. Internally, it has over 25,000 employees and management focuses on training, monitoring services, and discipline. Externally, it discusses customers who appreciate good service, competitors who are studied carefully, pressure groups like government, technological advances, social and cultural values, and Pakistan's economic conditions which currently present challenges.
The document provides information about Habib Metropolitan Bank Ltd, including its subsidiaries, ratings, Islamic banking division, history in Pakistan and Sialkot, branch network including locations in Sialkot, board of directors, hierarchy, consumer banking facilities like savings accounts, current accounts, and account opening procedures. It also discusses corporate banking and internal controls.
Bank Alfalah was established in 1998 after taking over the Pakistani branches of the banned BCCI bank. It has since expanded to over 400 branches within Pakistan and abroad. The document provides an overview of Bank Alfalah's management, financial performance, branch network, credit portfolio, foreign operations, human resources, and operations departments. It concludes with general principles for account opening procedures.
Following privatization in 1997, Bank Alfalah emerged as the new identity of Habib Credit and Exchange Bank. It is now owned by an Abu Dhabi consortium led by Sheikh Nahayan Mabarak Al-Nahayan. The bank has invested in new technology and products like Royal Profit and Royal Patriot to better serve customers. It aims to continually develop new products and services through ongoing assessment of customer needs. Bank Alfalah is committed to expanding its network of branches across major Pakistani cities to improve access to services and eventually expand internationally.
The document provides an overview of Bank Alfalah, including its vision, mission, philosophy, management structure, financial performance, branch network, services, competitors and the author's experience working in different departments during their internship. Key details include growth in deposits, advances, assets and profits from 2000-2001, 38 existing branches with plans to expand to 45 branches, and competitive services like online banking, ATMs and personal loans.
This document provides an overview of Bank Alfalah including its definition, vision, mission, products, departments and accounting practices. In 3 sentences:
Bank Alfalah is an Abu Dhabi based commercial bank operating in Pakistan with over 100 branches. It offers various personal and business banking products and services through departments like operations, credit, accounting and remittance. The accounting department prepares financial statements, tracks assets, liabilities, income and expenses, and ensures compliance with accounting standards.
HBL (Habib Bank Limited) is one of the largest banks in Pakistan with over 1439 branches. It was established in 1941 and was later nationalized in 1974 before being privatized in 2004. The document provides an overview of HBL's history, mission, objectives, core values, organizational structure, products/services offered, and SWOT analysis. It details HBL's various departments and how authority is delegated down its hierarchical chain of command from the President to various executive vice presidents and regional offices.
Bank Alfalah Limited was incorporated in 1992 and commenced banking operations in 1997. It is owned by the Abu Dhabi Group and is the sixth largest bank in Pakistan with over 500 branches. The bank provides various financial products and services including consumer banking, corporate banking, Islamic banking and branchless banking services. It recently rebranded in 2015 by changing its logo and color scheme. The document discusses the bank's vision, management team, products, services, branch network, CSR initiatives and SWOT analysis.
The document discusses the internal and external environments of Bank Alfalah Limited. Internally, it has over 25,000 employees and management focuses on training, monitoring services, and discipline. Externally, it discusses customers who appreciate good service, competitors who are studied carefully, pressure groups like government, technological advances, social and cultural values, and Pakistan's economic conditions which currently present challenges.
The document provides information about Habib Metropolitan Bank Ltd, including its subsidiaries, ratings, Islamic banking division, history in Pakistan and Sialkot, branch network including locations in Sialkot, board of directors, hierarchy, consumer banking facilities like savings accounts, current accounts, and account opening procedures. It also discusses corporate banking and internal controls.
Bank Alfalah was established in 1998 after taking over the Pakistani branches of the banned BCCI bank. It has since expanded to over 400 branches within Pakistan and abroad. The document provides an overview of Bank Alfalah's management, financial performance, branch network, credit portfolio, foreign operations, human resources, and operations departments. It concludes with general principles for account opening procedures.
This document provides a 3 page internship report summary for an internship at Habib Bank Limited (HBL) in Pakistan. The summary discusses the executive summary of the internship experience, acknowledges those who helped with the report, and provides an introduction to banking evolutions and the structure of Pakistan's financial sector. HBL is introduced as the largest private sector bank in Pakistan, with over 1,500 branches. The report discusses HBL's background, privatization in 2004, mission, vision, administration, and departments including account opening, cash, clearing, and transfers.
Bank Alfalah Limited is a private bank in Pakistan established in 1997. It has over 650 branches across Pakistan and international presences in Afghanistan, Bangladesh, and Bahrain. The internship report provides an overview of the bank's history, vision, mission, products and services. It describes the intern's experience working in the account opening, remittance, clearing, and cash departments at the Eid Gah road branch. The report discusses what was learned during the internship and how classroom learning was applied. Recommendations are provided to improve branch operations.
This document provides information about Bank Alfalah, including its definition of accounting, organization structure, products and services. It defines accounting as the process of classifying, recording and interpreting financial transactions. It then outlines Bank Alfalah's vision, mission and historical overview. It describes the bank's departments including operations, credit and accounting and provides details about their key functions.
This document discusses Habib Bank Limited (HBL), Pakistan's largest bank. It provides details about HBL's history, services, significance, incentives for employees, and some problems. Specifically, it notes that HBL was established in 1941 in Bombay and shifted to Karachi in 1947. It offers various deposit, savings, and foreign currency accounts as well as services like ATMs, internet banking, mobile banking, and phone banking. The document also discusses HBL's role in Pakistan's history and how it supports employees through direct and indirect payments. Problems mentioned include timing of logistics, record keeping, and cyber security.
Habib Bank Limited (HBL) is one of the largest banks in Pakistan with over 1400 branches. It was established in 1941 in Bombay and moved its headquarters to Karachi after the partition of India and Pakistan in 1947. HBL was nationalized in 1974 but privatized in 2004. Today it has corporate, retail, and international banking divisions organized across its central and regional offices. HBL has a strong presence but also faces threats from increasing competition from foreign banks and needs to improve some customer services to remain the leading bank.
The document discusses the compensation system of Habib Bank Limited (HBL), one of the largest banks in Pakistan. It provides an overview of HBL, including its history, vision, mission and values. It then describes the key components of HBL's compensation system, including bases for pay such as merit pay plans and incentive plans. It discusses how HBL designs its compensation system to be internally consistent, market competitive, and aligned with compensation policies. Employee benefits are also highlighted. In conclusion, some limitations and recommendations are provided.
The document is an internship report presented by Mairaj Sharif about their internship at Bank Alfalah's Islamic banking division. It provides an introduction to Bank Alfalah and the student's career goals. It describes the main objectives of the internship as learning about different bank departments and improving professional knowledge and skills. It then outlines the various jobs and tasks the intern was assigned, including account opening procedures, customer relations, operations like clearing checks, credit products, and car financing.
Allied Bank Limited is one of the largest banks in Pakistan with over 800 branches. It was established in 1942 as Australasia Bank Limited, the first Muslim bank in Pakistan, under the chairmanship of Khawaja Bashir. Today, Allied Bank has capital and reserves exceeding Rs. 13 billion with deposits over Rs. 325 billion and total assets over Rs. 418 billion. The bank offers various personal and commercial banking services and products including savings and investment accounts, loans, credit cards, money transfers, and more.
The document provides an internship report on Habib Bank Limited (HBL). It includes an acknowledgement, table of contents, executive summary, and sections on the history of banking in Pakistan and HBL. The executive summary highlights that HBL was the first commercial bank established in Pakistan in 1947 and has grown to over 1,450 branches. It also discusses HBL's mission, vision, values, board of directors, management structure, operations, products/services, and the intern's learnings. SWOT analysis identifies HBL's strengths as its long history, large size and branch network, and high level of public trust in Pakistan.
HABIB BANK LIMITED is a leader in Pakistan's banking industry with over 1430 domestic and 55 international branches. It was established in 1941 and was later nationalized but privatized in 2004. HBL has the largest market share and deposits in Pakistan's banking sector. Its vision is to enable customers to advance with confidence and success, and its mission is to be recognized as Pakistan's leading bank and provide premium innovative products and services. HBL offers various banking products and services including mobile banking, credit cards, loans for housing, autos and agriculture. A SWOT analysis identified HBL's wide network and focus on consumers as strengths, while weaknesses included a large number of branches and low job satisfaction. Opportunities lie in
Group members for the project include Syed Muhammad Umair, Muhammad Bilal, Ammara, and Amna.
Bank Alfalah Limited is a private bank in Pakistan owned by the Abu Dhabi Group. It was established in 1997 and offers both conventional and Islamic banking services. Bank Alfalah remains the number 2 Islamic bank in Pakistan with over 110 Islamic banking branches across the country.
The document outlines various Islamic banking products offered by Bank Alfalah, including murabaha financing, ijara financing, diminishing musharaka financing, and current and savings accounts that are Shariah compliant. Pricing for products is based on factors like KIBOR rates and fixed profit rates
This document appears to be an internship report submitted by Fatima for her MBA program. It provides an overview of the banking sector in Pakistan historically and currently. It then focuses on Fatima's 6-week internship at Bank Alfalah Limited in Sahiwal, where she learned about the various departments and their functions, as well as Bank Alfalah's products and services. The report also includes a financial analysis and ratios for Bank Alfalah from 2008-2012.
This document provides an overview and analysis of Habib Bank Limited (HBL) including its vision, mission, profile, SWOT analysis, and products and services. It also includes a comparative analysis of HBL with other major Pakistani banks - MCB Bank, United Bank Limited, Allied Bank Limited, and Faysal Bank. The document contains the internship report submitted to KASBIT by Avinash Advani, covering his internship tasks and findings at HBL. It provides details on the history, operations, and competitive landscape of HBL and the banking sector in Pakistan.
Bank Alfalah aims to be the premier financial services provider locally and internationally under its vision. Its mission is to deliver innovative products and quality service while enhancing profitability. Since being established in 1997, it has grown its branch network to over 500 branches in Pakistan and internationally. It provides various banking services to consumers, corporations and governments including deposits, loans, investments and digital banking. A SWOT analysis found its strengths outweigh weaknesses and it has opportunities to expand through new technologies and products while facing competition from other banks.
Hafsa Idrees and others presented on the history and operations of Habib Bank Limited (HBL). HBL was founded in 1941 in Bombay and is now headquartered in Karachi. It has over 1,700 branches domestically and 55 branches internationally. HBL offers various personal and business banking accounts, loans, investment products, and digital banking services. It aims to enable customer prosperity while creating value for stakeholders through its vision, mission, and values of progressiveness, customer focus, excellence, integrity and meritocracy.
The document provides information about the Management Information System (MIS) at Habib Bank Limited (HBL) in Pakistan. It discusses [1] the objectives and applications of MIS, including supporting decision making and improving supply chain management. It also [2] describes the modern IT department at HBL, which uses computers, servers, databases, and security systems. Finally, it [3] outlines the specific information systems used for banking, including solutions that support branch operations and the creation of data warehouses and reports for management.
The document provides an overview of Habib Bank Limited (HBL), Pakistan's largest private bank. It discusses HBL's history since being established in 1941, its vision, mission and values. It also describes HBL's management functions of planning, organizing, leading and controlling. A SWOT analysis is presented and the main problems and recommendations for HBL are discussed. The conclusion states that with proper attention to customers, HBL has the potential to become the leading bank in Pakistan.
This document provides an overview of a group project on Bank Alfalah. It introduces the group members and briefly outlines the topic, introduction, historical background, branches, functions, methods, findings, and types of communication of Bank Alfalah. It then discusses the introduction, historical background from 1997, current branches in Pakistan and internationally, functions including branch banking and corporate banking, methods used including questionnaires and meetings, basic modes of communication like email and web portal, and types of internal and external communication for Bank Alfalah.
Presentation given by Mohsin H. Alqamari, Farzan Nazeer, Syed Ahmed Owais on Habib Bank (HBL) to Miss.Tayyaba Hussani in the course "Human Resource Management" at Hamdard University City Campus (HIMS).
References:
Human Resource Management, 7 th edition, David A Decenzo, Stephen P Robbins.
Human Resource In charge - RHQ Karachi Region North, Mr. Mumtaz Ali Zaidi.
Internship report on Al arafah Islami Bank Amberkhana BranchRayhanAhmed25
This document provides an overview of the banking industry and history of banking in Bangladesh. It defines what a bank and banking are, and describes the key concepts. It outlines the history of modern banking practices emerging in the 17th-18th centuries in Europe. For Bangladesh specifically, it notes that after independence, the central bank was reorganized from the former State Bank of Pakistan branch and named Bangladesh Bank in 1972. The banking sector in Bangladesh plays a pivotal role in the country's economic development.
Performance analysis of loans of KDCC bank bhuj Mehta Yash
This document is a project report submitted by Yash Mehta to the Department of Commerce and Management at KSKV Kachchh University. The report analyzes the performance of cash credit and overdraft loans provided by KDCC Bank. KDCC Bank is the District Central Co-operative Bank for Kachchh district, established in 1958. It has 18 branches and provides various loan and deposit products to farmers and businesses. The report includes sections on the research methodology, data analysis and interpretation, findings, and suggestions.
This document provides a 3 page internship report summary for an internship at Habib Bank Limited (HBL) in Pakistan. The summary discusses the executive summary of the internship experience, acknowledges those who helped with the report, and provides an introduction to banking evolutions and the structure of Pakistan's financial sector. HBL is introduced as the largest private sector bank in Pakistan, with over 1,500 branches. The report discusses HBL's background, privatization in 2004, mission, vision, administration, and departments including account opening, cash, clearing, and transfers.
Bank Alfalah Limited is a private bank in Pakistan established in 1997. It has over 650 branches across Pakistan and international presences in Afghanistan, Bangladesh, and Bahrain. The internship report provides an overview of the bank's history, vision, mission, products and services. It describes the intern's experience working in the account opening, remittance, clearing, and cash departments at the Eid Gah road branch. The report discusses what was learned during the internship and how classroom learning was applied. Recommendations are provided to improve branch operations.
This document provides information about Bank Alfalah, including its definition of accounting, organization structure, products and services. It defines accounting as the process of classifying, recording and interpreting financial transactions. It then outlines Bank Alfalah's vision, mission and historical overview. It describes the bank's departments including operations, credit and accounting and provides details about their key functions.
This document discusses Habib Bank Limited (HBL), Pakistan's largest bank. It provides details about HBL's history, services, significance, incentives for employees, and some problems. Specifically, it notes that HBL was established in 1941 in Bombay and shifted to Karachi in 1947. It offers various deposit, savings, and foreign currency accounts as well as services like ATMs, internet banking, mobile banking, and phone banking. The document also discusses HBL's role in Pakistan's history and how it supports employees through direct and indirect payments. Problems mentioned include timing of logistics, record keeping, and cyber security.
Habib Bank Limited (HBL) is one of the largest banks in Pakistan with over 1400 branches. It was established in 1941 in Bombay and moved its headquarters to Karachi after the partition of India and Pakistan in 1947. HBL was nationalized in 1974 but privatized in 2004. Today it has corporate, retail, and international banking divisions organized across its central and regional offices. HBL has a strong presence but also faces threats from increasing competition from foreign banks and needs to improve some customer services to remain the leading bank.
The document discusses the compensation system of Habib Bank Limited (HBL), one of the largest banks in Pakistan. It provides an overview of HBL, including its history, vision, mission and values. It then describes the key components of HBL's compensation system, including bases for pay such as merit pay plans and incentive plans. It discusses how HBL designs its compensation system to be internally consistent, market competitive, and aligned with compensation policies. Employee benefits are also highlighted. In conclusion, some limitations and recommendations are provided.
The document is an internship report presented by Mairaj Sharif about their internship at Bank Alfalah's Islamic banking division. It provides an introduction to Bank Alfalah and the student's career goals. It describes the main objectives of the internship as learning about different bank departments and improving professional knowledge and skills. It then outlines the various jobs and tasks the intern was assigned, including account opening procedures, customer relations, operations like clearing checks, credit products, and car financing.
Allied Bank Limited is one of the largest banks in Pakistan with over 800 branches. It was established in 1942 as Australasia Bank Limited, the first Muslim bank in Pakistan, under the chairmanship of Khawaja Bashir. Today, Allied Bank has capital and reserves exceeding Rs. 13 billion with deposits over Rs. 325 billion and total assets over Rs. 418 billion. The bank offers various personal and commercial banking services and products including savings and investment accounts, loans, credit cards, money transfers, and more.
The document provides an internship report on Habib Bank Limited (HBL). It includes an acknowledgement, table of contents, executive summary, and sections on the history of banking in Pakistan and HBL. The executive summary highlights that HBL was the first commercial bank established in Pakistan in 1947 and has grown to over 1,450 branches. It also discusses HBL's mission, vision, values, board of directors, management structure, operations, products/services, and the intern's learnings. SWOT analysis identifies HBL's strengths as its long history, large size and branch network, and high level of public trust in Pakistan.
HABIB BANK LIMITED is a leader in Pakistan's banking industry with over 1430 domestic and 55 international branches. It was established in 1941 and was later nationalized but privatized in 2004. HBL has the largest market share and deposits in Pakistan's banking sector. Its vision is to enable customers to advance with confidence and success, and its mission is to be recognized as Pakistan's leading bank and provide premium innovative products and services. HBL offers various banking products and services including mobile banking, credit cards, loans for housing, autos and agriculture. A SWOT analysis identified HBL's wide network and focus on consumers as strengths, while weaknesses included a large number of branches and low job satisfaction. Opportunities lie in
Group members for the project include Syed Muhammad Umair, Muhammad Bilal, Ammara, and Amna.
Bank Alfalah Limited is a private bank in Pakistan owned by the Abu Dhabi Group. It was established in 1997 and offers both conventional and Islamic banking services. Bank Alfalah remains the number 2 Islamic bank in Pakistan with over 110 Islamic banking branches across the country.
The document outlines various Islamic banking products offered by Bank Alfalah, including murabaha financing, ijara financing, diminishing musharaka financing, and current and savings accounts that are Shariah compliant. Pricing for products is based on factors like KIBOR rates and fixed profit rates
This document appears to be an internship report submitted by Fatima for her MBA program. It provides an overview of the banking sector in Pakistan historically and currently. It then focuses on Fatima's 6-week internship at Bank Alfalah Limited in Sahiwal, where she learned about the various departments and their functions, as well as Bank Alfalah's products and services. The report also includes a financial analysis and ratios for Bank Alfalah from 2008-2012.
This document provides an overview and analysis of Habib Bank Limited (HBL) including its vision, mission, profile, SWOT analysis, and products and services. It also includes a comparative analysis of HBL with other major Pakistani banks - MCB Bank, United Bank Limited, Allied Bank Limited, and Faysal Bank. The document contains the internship report submitted to KASBIT by Avinash Advani, covering his internship tasks and findings at HBL. It provides details on the history, operations, and competitive landscape of HBL and the banking sector in Pakistan.
Bank Alfalah aims to be the premier financial services provider locally and internationally under its vision. Its mission is to deliver innovative products and quality service while enhancing profitability. Since being established in 1997, it has grown its branch network to over 500 branches in Pakistan and internationally. It provides various banking services to consumers, corporations and governments including deposits, loans, investments and digital banking. A SWOT analysis found its strengths outweigh weaknesses and it has opportunities to expand through new technologies and products while facing competition from other banks.
Hafsa Idrees and others presented on the history and operations of Habib Bank Limited (HBL). HBL was founded in 1941 in Bombay and is now headquartered in Karachi. It has over 1,700 branches domestically and 55 branches internationally. HBL offers various personal and business banking accounts, loans, investment products, and digital banking services. It aims to enable customer prosperity while creating value for stakeholders through its vision, mission, and values of progressiveness, customer focus, excellence, integrity and meritocracy.
The document provides information about the Management Information System (MIS) at Habib Bank Limited (HBL) in Pakistan. It discusses [1] the objectives and applications of MIS, including supporting decision making and improving supply chain management. It also [2] describes the modern IT department at HBL, which uses computers, servers, databases, and security systems. Finally, it [3] outlines the specific information systems used for banking, including solutions that support branch operations and the creation of data warehouses and reports for management.
The document provides an overview of Habib Bank Limited (HBL), Pakistan's largest private bank. It discusses HBL's history since being established in 1941, its vision, mission and values. It also describes HBL's management functions of planning, organizing, leading and controlling. A SWOT analysis is presented and the main problems and recommendations for HBL are discussed. The conclusion states that with proper attention to customers, HBL has the potential to become the leading bank in Pakistan.
This document provides an overview of a group project on Bank Alfalah. It introduces the group members and briefly outlines the topic, introduction, historical background, branches, functions, methods, findings, and types of communication of Bank Alfalah. It then discusses the introduction, historical background from 1997, current branches in Pakistan and internationally, functions including branch banking and corporate banking, methods used including questionnaires and meetings, basic modes of communication like email and web portal, and types of internal and external communication for Bank Alfalah.
Presentation given by Mohsin H. Alqamari, Farzan Nazeer, Syed Ahmed Owais on Habib Bank (HBL) to Miss.Tayyaba Hussani in the course "Human Resource Management" at Hamdard University City Campus (HIMS).
References:
Human Resource Management, 7 th edition, David A Decenzo, Stephen P Robbins.
Human Resource In charge - RHQ Karachi Region North, Mr. Mumtaz Ali Zaidi.
Internship report on Al arafah Islami Bank Amberkhana BranchRayhanAhmed25
This document provides an overview of the banking industry and history of banking in Bangladesh. It defines what a bank and banking are, and describes the key concepts. It outlines the history of modern banking practices emerging in the 17th-18th centuries in Europe. For Bangladesh specifically, it notes that after independence, the central bank was reorganized from the former State Bank of Pakistan branch and named Bangladesh Bank in 1972. The banking sector in Bangladesh plays a pivotal role in the country's economic development.
Performance analysis of loans of KDCC bank bhuj Mehta Yash
This document is a project report submitted by Yash Mehta to the Department of Commerce and Management at KSKV Kachchh University. The report analyzes the performance of cash credit and overdraft loans provided by KDCC Bank. KDCC Bank is the District Central Co-operative Bank for Kachchh district, established in 1958. It has 18 branches and provides various loan and deposit products to farmers and businesses. The report includes sections on the research methodology, data analysis and interpretation, findings, and suggestions.
This document is a project report submitted by Nanak Singh to Dr. Poonamjot Kaur for a Master's degree. The report studies the different loans provided by SBI Bank. It includes an introduction to the topic, a literature review, objectives of the study, research methodology, data analysis, findings and recommendations. The report aims to provide practical knowledge about the various loans offered by SBI Bank through this research project.
This document provides an overview of the evolution of banking in Pakistan from 1947 to 1972. It discusses:
- The establishment of the State Bank of Pakistan in 1948 and its role in developing the national banking system through institutions like the National Bank of Pakistan.
- The growth of commercial banking facilities between 1948-1970, with an increasing number of bank branches and credit expansion.
- Banking reforms introduced in 1972 that aimed to make banks more responsive to economic growth and social justice by distributing credit more equitably and ensuring social accountability.
Working capital management of ncc bank ltd. prepared by Munna kumar yadaavMunna Kumar Yadav
The document provides an overview of banking in Nepal, including:
1) Nepal Bank Ltd. was established in 1937 as the first modern bank in Nepal and remained the sole financial institution until Nepal Rastra Bank was established in 1956 as the central bank.
2) Today Nepal has a variety of banks including central, development, commercial, financial, cooperative, and microcredit banks that operate with modern technologies like ATMs, online banking, debit/credit cards.
3) Nepal Credit & Commerce Bank (NCC Bank) was established in 1996 as a joint venture with Bank of Ceylon, Sri Lanka, making it the first private sector bank in Nepal.
This document provides an overview of banking in Pakistan. It begins with definitions of banking as financial intermediation and the evolution of banking in India and Pakistan. It describes the first banks established in Pakistan and how banks were nationalized in 1974. It also outlines the functions of commercial banks and the central bank (SBP). Finally, it provides a brief history of Summit Bank, describing its origins and mergers over time as well as its vision, mission, and branch network across Pakistan.
This document provides an overview of banking in Pakistan and Summit Bank. It discusses the evolution of banking in Pakistan from the establishment of the Bank of Bengal in 1809 to nationalization in 1974. It then summarizes the history of Summit Bank, formed through mergers of other banks. The document outlines Summit Bank's vision, mission, organizational structure, employment grades, performance management, leave policies, staff loans, types of financing available to staff including vehicle Ijarah, house finance and rewards for passing IBP exams.
The document is a summer internship project report submitted by Shravan Gupta to the School of Business Studies. During his 4-week internship at Kotak Mahindra Bank in Ranchi, Shravan learned about various banking operations like customer service, loans, deposits, mutual funds, credits, and more. He gained practical work experience by rotating through different departments. The report provides an overview of Kotak Mahindra Bank, including its history, organizational structure, products, and the activities Shravan participated in during his internship.
This document provides an overview of banking concepts including definitions of banks, customers, and bankers. It then summarizes the history of banking in Pakistan and provides details about Habib Bank Limited (HBL), including its objectives, mission, types of accounts offered, loans provided, and income/expenditure of the Cantt branch. Strengths and weaknesses of HBL are listed, with suggestions to reduce interest rates, make all branches online, install more ATMs, and increase profit sharing with employees.
Comparison of Ethiopian and Kenyan Commercial Banks sabiadmasu
Ethiopia and Kenya are among the largest states in the horn of Africa in terms of both population and area. This study tries to compare the banking products between Commercial Bank of Ethiopia and some selected Kenyan commercial banks in general and specifically the Moyale area. The study has a main objective of identifing product gaps of CBE to become world class commercial bank by comparison with some Kenyan commercial banks. Specifically, the project identify bank products of some selected Kenyan commercial banks, identify CBE’s products, point out lessons learned from the Kenyan commercial banks and suggest possible products to CBE. The main focus of the study is comparing banking products of CBE and selected Kenyan commercial banks not other strategic or budgeting issues of banking activities. The information and data required for the study collected by employing field observation and secondary written documents. Both quantitative and qualitative data is gathered for the study using the above methods. The main findings of the study is the there are a differentiated products offered by the selected Kenyan commercial banks and CBE also has a unique banking products. Kenyan commercial banks have all the required features in one format that is used for deposit, withdrawal and account to account transfer and they avail indoor camera in every branch for opening saving and current account. Personal Current Account and check plus account, Ufansi Binafsi account / SME account/, Busara savings account /savings for special occasion account/, FCB Labbeyk Account / savings for Hajj/, KCB students plus /FCB Students/ Account, KCB easy pay loan /Equity Bank Flexi-Salo/, Equity Bank Equiloan /FCB check off facility/, Salary Advance, KCB Grace loan / FCB Lulu Advantage/, KCB SME Loan /FCB SME Finance/ Equity Bank SME Loan, KCB Masomo Loan / Elimika Na FCB/, School Tuition Account, FCB Boresha Mifugo and other identified product types must be introduced in the product line of CBE.
This study is not the final and ultimate, there are issues to be investigated in the banking sectors of the two countries and also there are other neighbors’ banking products to be investigated.
A Study on the selected Banks of AfghanistanHazratBilalM
This document provides an overview of banking in Afghanistan, including a history of banking from the first modern bank established in 1931 to present day. It discusses the country's central bank, Da Afghanistan Bank (DAB), including its functions such as monetary policy, foreign exchange reserves, and regulating other banks. The document also profiles Azizi Bank, one of Afghanistan's leading commercial banks, describing its establishment, services, network of correspondent banks, ATM locations, and vision to follow international banking best practices.
Intoduction
history of banking in AFG
Da AFG bank
Azizi Bank and its operating places include with Baranches and ATM machine in All provinces of Afghanistan
This document discusses the history and initiatives of Bank of Baroda, one of India's largest public sector banks. It traces the bank's origins back to 1908 when it was established in Baroda by the Maharaja of Baroda. Over the decades, the bank expanded both within India and internationally, growing to have over 2,700 branches across 21 countries. The document highlights some of the bank's key initiatives including expanding customer services, developing its people, strengthening finances, and advancing digitization. It recognizes the important role played by both leadership and ordinary employees in building the institution over the past century.
This certificate certifies that Mr. Syed Aman Shah completed an internship report on Meezan Bank Limited Latifabad Branch from June to July 2015 to fulfill partial requirements for a B.S. Com (Hon's) degree. The internship supervisor, Ashique Ali Jhatial of the Institute of Commerce at the University of Sindh, certified that the report was the original work of the candidate.
This document provides an internship report submitted by Adeel-ur-Rehman for his internship at Bank Al-Falah Limited. The report discusses the history and introduction of Bank Al-Falah, Pakistan's commercial banking scenario, Bank Al-Falah's vision and mission, its management structure including various departments, types of accounts offered, account opening and closing procedures, remittance services, financial analysis of Bank Al-Falah for 2017, SWOT analysis, and recommendations. The report aims to provide a comprehensive overview and learning from Adeel-ur-Rehman's internship experience at Bank Al-Falah.
After the Liberation War and the eventual independence of Bangladesh, the Government of Bangladesh reorganized the Dhaka branch of the State Bank of Pakistan as the central bank of the country, naming it Bangladesh Bank. This reorganization was done pursuant to Bangladesh Bank Order, 1972, and the Bangladesh Bank came into existence retroactively from 16 December 1971.
Report on summer internship project of Himalayan Bank Limited.priyanka sarraf
A SUMMER INTERNSHIP PROJECT ON “A Comparative study of Himalayan Bank Ltd. and Everest Bank Ltd., with special reference to customer feedback on product and services offered by Himalayan Bank Limited”
This document provides information about the National Bank of Pakistan (NBP). It discusses NBP's history, operations, subsidiaries, international offices, products and services. Some key points:
- NBP is a major commercial bank in Pakistan with headquarters in Karachi. It has over 1,450 branches across Pakistan and internationally.
- In addition to commercial banking, NBP provides some public sector services and acts as an agent for the State Bank of Pakistan in areas it has no presence.
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“A study on financial statement by using camel ration with special reference toAKHIL D.C HARIDAS
This document provides an introduction and background on a study analyzing the financial performance of State Bank of Travancore using the CAMEL framework. It discusses the objectives of the study, scope, data collection methods, period of study from May 1-June 15, 2014. It also provides context on the banking industry and origin of banking in India. The study aims to understand the bank's financial performance, importance of ratings, and how factors like capital adequacy, asset quality, management, earnings, liquidity, and systems/controls impact performance.
“A study on financial statement by using camel ration with special reference toAKHIL D.C HARIDAS
This document provides an introduction and background on a study analyzing the financial performance of State Bank of Travancore using the CAMEL framework. It discusses the objectives of studying the bank's capital adequacy, asset quality, management soundness, earnings and profitability, liquidity, and sensitivity to risk. The document outlines the methodology, including primary and secondary data collection. It provides context on the banking industry and history in India.
The document discusses training and development at Holiday Inn Hotel & Resort. It outlines the hotel's vision, mission, organizational structure, and management style. It also states that the document will look at socializing new employees, training programs to build skills, and development efforts to ensure a supply of highly qualified workers.
The document discusses the teacher's important role in character building of students. It begins by defining character and noting the current scenario of low literacy rates. It emphasizes that character building should be the prime aim of education. Character is influenced most by role models, especially teachers. Teachers need to understand child development principles and apply them appropriately. Development occurs through both nature and nurture influences. The teacher's role is to foster stable, positive behavior in students through their own strong moral character and caring attitude.
This document discusses occupational safety, health, and the environment in Pakistan. It begins with an introduction stating that safety is an unexplored frontier in Pakistan and only receives lip service in most companies. It then discusses the importance of safety as the fourth requirement for living beings.
The document outlines objectives for health, safety, and environmental programs. Health objectives include reducing occupational diseases, maintaining acceptable noise levels, and minimizing respiratory illnesses. Safety objectives and programs aim to qualify employees in first aid and emergency response. Environmental objectives seek to properly treat waste and limit pollution.
Interview segments provide perspectives from managers on their safety standards, waste disposal procedures, and needs for improved medical facilities. Overall, the document evaluates current safety practices and outlines
This document outlines a research proposal to study the role of small and medium enterprises (SMEs) in Pakistan's economy. The objectives are to understand SME definitions, contributions to economic growth and employment, and challenges faced. An overview notes SMEs are important to Pakistan's economy but suffer weaknesses that constrain growth. The broad problem is Pakistan's agriculture-based economy has not boosted development as much as industrialized economies. While large industries contribute to growth, the role of SMEs in all sectors cannot be overlooked.
SA 8000 is a social accountability standard that was developed to allow companies to certify that they operate in accordance with international human rights and labor standards. It aims to ensure ethical sourcing and production through independent third-party audits and continuous improvement efforts. SA 8000 certification can benefit companies by improving their brand image, reducing risks, and increasing customer loyalty and access to international markets.
Marketing research is important for businesses as it plays a role in all phases of the business process. It helps define problems, gather and analyze data, interpret results, and present information to managers. There are three main types of marketing research: explanatory research gathers preliminary information, descriptive research better describes markets and problems, and predictive research predicts future outcomes and tests hypotheses. Marketing research can concentrate on key areas like the market, competition, promotion, products, distribution, and pricing. Desk research uses secondary data while field research collects primary data through methods like observation and surveys. Field research can quickly provide businesses with up-to-date information and competitive advantages.
The document discusses planning tools used by Pakistan Telecommunication Company Limited (PTCL), including budgets, probability theory, and scheduling. It provides an overview of PTCL's history and mission, and analyzes the merits and demertits of the organization. The document concludes by recommending that PTCL improve customer service by responding quickly to complaints, increasing network capacity, and ensuring accurate billing.
The presentation provides an introduction to management concepts for Sir K.J Malik. It is presented by four group members and covers HRM processes both inside and outside the organization. Specifically, it discusses the recruitment process guide, security measures, balancing work and life, and rewards and benefits programs. At the end, the presenters thank the audience and accept any questions.
Pizza Hut came to Pakistan opening locations in Karachi, Lahore, and Multan. It has a hierarchical structure at the head office and restaurant levels. Management functions like planning, organizing, staffing, leading, and controlling are carried out. Pizza Hut conducts various promotional activities worldwide and in Pakistan uses strategies like Pizza Pooch Club and new flavors. It performs well politically and socially but faces threats from new competitors.
This document provides a historical background and overview of Pakistan International Airlines (PIA). It discusses how PIA was formed in 1955 through the merger of Orient Airways and Pakistan Airways to serve as the national carrier of Pakistan. It details PIA's initial routes and fleet expansion over the decades as it grew to become one of the largest airlines in Asia. The document also outlines some of PIA's achievements and challenges over the years in developing its network and adapting to changes in technology and management.
The document discusses the marketing plan of Wah Nobel Acetates Limited, a manufacturer of acetic acid, butyl acetate, and ethyl acetate. It outlines the company's products, market segmentation, distribution channels, pricing policies, and marketing objectives to capture market share and increase sales of its chemicals. The marketing department will focus on customer satisfaction, improving products' image, and ensuring consistency in quality to achieve its goals.
The document discusses Paktel's management information systems. It provides an overview of Paktel's objectives, history, value added services, hardware and software infrastructure, involvement in information system development, strategic information systems using their value chain, database management systems, telecommunication network model, and recommendations.
Paktel is Pakistan's first and leading cellular company. It has the largest network coverage in the country and focuses strongly on customer service. The document discusses Paktel's history and background, strengths such as being the first mobile company and having a qualified workforce, and weaknesses like lack of spending on advertising. It also covers opportunities for growth and threats from increased competition. Paktel offers various value-added services to customers like call centers, international SMS, and call forwarding.
The 379th Project Management Committee meeting was held on May 14, 2005 at 1100 hrs in the Conference Room. All members except the GM of Spinning were present. The agenda included the Spinning Performance Report for May 2005 and maintenance updates. Issues with motor tripping in Section IV were discussed. The document also covered strategies to reduce costs associated with IT outsourcing such as contracting costs, transition costs, vendor management costs, and costs of switching vendors. Key recommendations included being aware of all potential costs, including transition and management costs, and including flexibility and reversibility clauses in contracts.
This document provides an overview of Nestle's history and operations. It discusses how Nestle was founded in 1866 to provide infant nutrition products and condensed milk. It later expanded into coffee, chocolate, bottled water, pet food and other products. Nestle Milkpak Ltd is Nestle's Pakistan subsidiary, which operates factories and collects milk directly from over 130,000 farmers. The company is committed to product quality and social responsibility programs in the communities where it operates.
The document discusses differentiation strategy and providing customers with more value-added (MVA). Differentiation strategy involves delivering goods or services that customers perceive as different in important ways. MVA means giving customers more value by delivering solutions to their problems. Differentiation methods include price differentiation, focus differentiation, product/service differentiation, and customer service differentiation. The document also summarizes Motorola's business strategy, which involves continuous innovation to remain competitive by introducing new technological products and monitoring products.
The document discusses Porter's five forces model as it applies to a Mobilink GSM franchise in Pakistan. It identifies the suppliers, customers, competitors, employees, and pressure groups and analyzes the degree of change and complexity for each factor. It concludes that while some factors like suppliers and employees are stable and simple, others like customers and competitors are dynamic and complex for the franchise. Overall, it believes the company has a bright future due to its employees' hard work and customer service.
The internship report summarizes Babar Ahmad's 6-week internship at the Marriott hotel and resorts in Islamabad. [1] He interned in the finance department, learning about financial procedures, auditing, budgeting, and cost control. [2] During his internship, he helped develop some business processes and procedures and learned disciplines of corporate culture. [3] He gained experience in income auditing, verifying food issuance reports, and using financial systems like Oracle.
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1) List their terminal and instrumental values.
2) Grade statements about their job and company on a scale of 1 to 5.
3) Identify where they fall on a matrix measuring sources of job dissatisfaction.
4) Answer yes/no/so-so questions about their pay, work activities, and work nature.
5) Choose between options like job involvement vs. organizational commitment, and uncertainty avoidance vs. risk taking.
The survey gathers information about an employee's values, perceptions of their job and company, and preferences to assess factors
Ferguson Associates is a management consulting firm in Pakistan that follows a flat organizational structure with directors responsible for the four functions of management in their departments. The directors plan effectively, organize with a fluid structure but weaknesses in retaining employees, lead subordinates through team management and motivation, and closely control performance. While generally performing management functions well, the directors could improve in organizing human resources.
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...sameer shah
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Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
Dr. Alyce Su Cover Story - China's Investment Leadermsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
1. EXECUTIVE SUMMARY
Following privatization, Bank Alfalah emerged as new identity of Habib Credit and
Exchange Bank with a revived purpose and commitment. Charged with the strength
of Abu Dhabi consortium and under the leadership of his Highness Sheikh Nahayan
Mabarak Al - Nayayan, the bank has already made significant contributions in
building and strengthening both corporate retail-banking sectors in Pakistan.
Bank Alfalah has invested in revolutionary technology to have
an extensive range of products and services. This facilitates its commitment to
a culture of innovation and seeks out synergies with clients and service providers to
ensure uninterrupted services to its customers. It perceives the requirements of its
customers and matches them with quality products and service solutions. During the
past seven years, it has emerged as one of the foremost financial institution in the
region endeavoring to meet the needs of such a dynamically changing market.
Designing the product portfolio of bank response to the customer’s preferences, the
product like Royal Profit, Royal Patriot and Royal Custodial are prime examples of
quality and innovation providing timely banking opportunities to customers of bank.
Assessment of the needs and wants of the customers is an on going process at Bank
Alfalah, which helps to continually develop new products and services. To
continuously offer courteous, professional and advanced banking solutions, the team
of bank has recently been rejuvenated by going though training programs with a focus
on information technology.
To make their banking solutions become accessible to more and more people, they
have embarked upon a rapid expansion program, aiming to provide a networking that
makes the services available to any of their customers in all the major urban centers
of Pakistan with a view to go international in the future.
With their key indicators of progress already soaring to new heights, the bank is
committed to dedicate all its energies, resources and time to bring higher value and
satisfaction to their customers, employees and shareholders. The graph of bank is
going up and up every year. The ratio of profit is increasing at good percentage. Thy
bank is serving the people at high level of standard by going according to the whishes
of the customers.
Lets Look Ahead Towards a Brighter Future Together 1
2. HISTORY OF BANKING
According to Professor Berton;
“Banks are the guardian & distributor of money”
“Bank is a pipeline through which currency moves into and out of circulation.”
Bank accepts deposits and repays cash to its customers on their demand. The Bank
borrows money at a lesser rate of interest and lends it to the borrowers at a higher
rate. It is thus a profit-lending concern. Bank cannot lend all the money that has been
deposited with it. It has to keep a certain portion of the total deposits in cash with
them in order to meet the cash requirements of the individuals and business concern.
Banking History
Word Bank is said to be derived from the words Banc us or Banque or Bank. The
history of banking is traced to as early as 2000 BC. The priests in Greece used to keep
money and valuables of the people in temples, acted as financial agents. The origin of
banking is also traced to early goldsmiths. They used to keep strong safes for storing
the money and valuables of the people. The FIRST STAGE in the development of
modern banking, thus, was the accepting of deposits of cash from those persons who
had surplus money with them.
The goldsmiths used to issue receipts for the money deposited with them. These
receipts began to pass from hand to hand in settlement of transactions because people
had confidence in the integrity and solvency of goldsmiths. When it was found that
these receipts were drawn in such a way that it entitles any holder to claim the
specified amount of money from goldsmiths. These receipts were the earlier bank
notes. The SECOND STAGE in development of banking thus was the issue of bank
notes.
The goldsmiths soon discovered that all the people who had deposited money with
them did not come to withdraw their funds in cash. They found that only a few
persons presented the receipt for encashment during a given period of time. At the
same time, they found that they were being constantly requested for loan on good
security. They thought it profitable to lend at least some of the money deposited with
them too the needy persons. This proved quite a profitable business for the
Lets Look Ahead Towards a Brighter Future Together 2
3. goldsmiths. This was the THIRD STAGE, in the development of banking.
By experience the banks came to know that they could keep a small proportion of the
total deposits for meeting the demands of customers for cash and the rest they could
easily lend. They allowed the depositors to draw over and above the money actually
standing to their credit. In Economics terminology we can say that they allowed the
overdraft facilities to their depositors. This was the FOURTH STAGE, in
development of banking.
When every bank issues receipts and most of them allowed the overdraft facilities,
there was then too much confusion in the banking system. The banks in order to earn
profits could not keep adequate reserves for meeting the demands of the customers
for cash. The failures on the part of the bankers to return money caused widespread
distress among the peoples.
In order to create confidence among the people, steps were taken to regulate the
banking organization. A conference was held in Nuremberg in 1548. It was decided
that a bank should be set up by the state, which should streamline the banking
organization and technique. The first central bank was formed in Geneva in 1578.
Bank of England was established in 1694. The responsibility of issuing of notes is
now entrusted to a central bank of each country.
FORMS OF BANK
FORMS OF BANKS
Central Bank Commercial Banks
Scheduled Banks
Non-Scheduled Banks
Lets Look Ahead Towards a Brighter Future Together 3
4. INTRODUCTION
Following privatization, Bank Alfalah emerged as new identity of Habib Credit and
Exchange Bank with a revived purpose and commitment. Charged with the strength
of Abu Dhabi consortium and under the leadership of his Highness Sheikh Nahayan
Mabarak Al - Nayayan, the bank has already made significant conditions in building
and strengthening both corporate retail-banking sectors in Pakistan.
Designing the product portfolio of bank response to the customer’s preferences, the
product like Royal Profit, Royal Patriot and Royal Custodial are prime examples of
quality and innovation providing timely banking opportunities to customers of bank.
Assessment of the needs and wants of the customers is an on going process at Bank
Alfalah, which helps to continually develop new products and services. To
continuously offer courteous, professional and advanced banking solutions, the team
of bank has recently been rejuvenated by going though training programs with a focus
on information technology.
To make their banking solutions become accessible to more and more people, they
have embarked upon a rapid expansion program, aiming to provide a networking that
makes the services available to any of their customers in all the major urban centers
of Pakistan with a view to go international in the future.
With their key indicators of progress already soaring to new heights, the bank is
committed to dedicate all its energies, resources and time to bring higher value and
satisfaction to their customers, employees and shareholders.
The graph of bank is going up and up every year. The ratio of profit is increasing at
good percentage. Thy bank is serving the people at high level of standard by going
according to the whishes of the customers.
Lets Look Ahead Towards a Brighter Future Together 4
5. COMMERCIAL BANKING SCENARIO IN
PAKISTAN
At the time of independence in 1947, there were 38 scheduled banks with 195 offices
in “Pakistan” but by December 31, 1973, there were 14 scheduled Pakistani
commercial banks with 3,233 offices all over Pakistan & 74 offices in foreign
countries.
Nationalization of Banks was not done 1st January 1974 under the Nationalization
act 1974, due to certain objectives. But it had negative effects on efficiency of the of
the banking sector afterwards a privatization Commission was set up on January 22,
1991, the commission transferred many banks to the private sector i.e., MCB & ABL.
The government approved & permitted the establishment of 10 new private banks in
1991; hence many new private banks have incorporated, since then, BANK
ALFALAH in one of the namely established private scheduled banks in Pakistan.
Lets Look Ahead Towards a Brighter Future Together 5
6. INTRODUCTION TO BANK ALFALLAH
Bank of Credit & Commerce International (BCCI) was a Pakistan based bank,
established by Mr.Agha Hassan Abdi from UBL, in association with U.A.E and
Europe. BCCI has its branches in 74 different countries of the world. It had its 3
branches in Pakistan. In 1991, the BCCI was banned, when it was accused by
European countries, that the bank was involved in some illegal operations with Gulf
countries. The major reason behind European accusation was that BCCI was of
Islamic mode. Therefore, the bank was closed due to international pressure. Then, its
3 Pakistani branches were taken over by the Government of Pakistan, which were
named as Habib Credit and Exchange Bank (HCEB) and these were working as
subsidiary of Habib Bank Limited.
Following the privatization in July 1997, Habib credit and Exchange Band assumed
the new identity of Bank Alfalah on February 25, 1998. It is now Abu Dhabi based
bank as the family of Sheikh Nahayan Mubarik Al Nahayan purchased 70% of its
shares and 30 % shares remained with Habib Bank on behalf of Government of
Pakistan.
It has it 42 branches in 17 cities in Pakistan. The D.G.Khan branch was opened in
August 2002. Alfalah has emerged as one of the leading commercial banks in the
financial sector of Pakistan. Charged with strength of Abu Dhabi consortium and
under the leadership of his highness Sheikh Nahayan Mubarak, minister of higher
education and scientific research and prominent member of Royal family. The bank is
energized with vision, envisaging.
The development of various sectors in Pakistan. The bank has already made
significant contribution in building and strengthening both corporate and retail banks
sector in Pakistan. Assessment of the needs and wants of customer is an on going
process at Bank Alfalah, which help to centennially develop new products of services.
Designing the product portfolio in response to royal patriot, royal custodial, Alfalah
car finance, Alfalah rupee traveler cheques home loans are prime example of quality
Lets Look Ahead Towards a Brighter Future Together 6
7. innovation providing timely banking opportunities to customer. To continuously offer
courteous, professional and advanced banking going through training programs with
focus to information technology has recently rejuvenated solution the team of bank.
With their key indicators of progress a steady soaring to new heights, the bank is
committed to dedicate all its energies, resources and time to bring higher value and
satisfaction to their customers and employers.
The graph of the bank is going up and up every year. The ratio of profit is increasing
at a good percentage. The bank is serving the people at high level of standard by
according to expectation of customers.
Evolution of Islamic banking
In 1984 General Zia Ul Haq made ISLAMIC IDEOLOGICAL COUNCIL. THEN
AFTER 2 YEARS ISLAMIC MODE OF FINANCE was introduced but people did
not accept because they said these are not ISLAMIC in true sense. In 2002
SUPREME COURT OF PAKISTAN had taken decision of INTEREST FREE
BANKING. UNITED BANK took stay order from the court. Then it was decided that
there should be a separate LICENSE for ISLAMIC BANKS. So first of all, Meezan
Bank took the license of Islamic Banking. Then Alfallah Islamic, Muslim
Commercial Bank, and Askari Bank took the license. In January 2004, Alfallah
started Islamic Banking. And in 2005, Alfallah Islamic Banking Division Multan
started working .Mr. IJAZ FAROOQ is supervising the Islamic bank of Alfallah
Bank.
Lets Look Ahead Towards a Brighter Future Together 7
8. BRANCH LEVEL HIERARCHY
Corporate Manager
Mr.m. saqib
Branch Manager
Mr.ahsan qureshi
Operation Manager
Mr. Faisal
OPERATION FOREIGN
DEPARTMENT EXCHANGE
DEPARTMENT
Imports
Cash Department
Mr. Amar
Mr. ikhlaq
Exports
A/C Opening Ms. Maria
Ms Humera
Remittance Dept.
Mrs. Qurat ul ain
Accounts Dept.
Mr. M.Waqar
Lets Look Ahead Towards a Brighter Future Together 8
9. Our Vision
Establish Islamic banking as banking of first choice to
facilitate the implementation of an equitable economic
system, providing a strong foundation for establishing
a fair and just society for mankind
“The introduction of a just and equitable financial system by
being a world class multi-purpose financial institution, providing a range of
specialized services, working on Shariah principles.”
Mission Statement
To be a premier Islamic bank, offering a one-stop shop
for innovative value added products and services to our
customers within the bounds of Shariah, while optimizing
the stakeholders' value through an organizational culture
based on learning, fairness, respect for individual
enterprise and performance.
THE PHILOSOPHY
Excellence in service
Quality performance
Product innovations
THE BOARD
H. H. Sheikh Hamdan Bin Mabarak Al-Nahayan
Chairman
Mr. Abdulla Khalil Al-Mutawa
Mr. Omar Z. Al-Askari
Mr. Abdullah Nasser Hawaileel Al-Mansoori
Mr. Nadeem Iqbal Sheikh
Lets Look Ahead Towards a Brighter Future Together 9
10. Mr. Ikram Ul-Majeed Sehgal
Mr. Mohammad Saleem Akhtar
Chief Executive Officer
BOARD OF DIRECTORS
Chairman
Secretary of the
Board
CEOB Director Director
Director Director Director
(member) (Govt. Nominated) (Govt. Nominated)
CORPORATE INFORMATION
Company Secretary
Mr. Hamid Ashraf
Auditors
A. F. Ferguson & Co.
Chartered Accountants
Head Office
B. A L Building
I. I. Chundrigarh Road
P.O. Box 6773
Karachi
EXECUTIVE COMMITTEE
Mr. Mohammad Saleem Akthar
Chairman
Mr. Parvez A. Shahid
Mr. Ikram Ul-Majeed Sehgal
Mr. Mohammad Yousuf
Mr. Tanweer A. Khan
Mr. Sirajuddin Aziz
Mr. Mahmood Ashraf
Lets Look Ahead Towards a Brighter Future Together 10
11. BANK ALFALLAH’s SLOGAN
Let’s Look Ahead Towards a Brighter Future Together.
BRANCHES NETWORK
Bank Alfalah has 55 branches in 23 cities of Pakistan. Detail of some major branches
as under: -
Karachi
Main branch, B.A. Building, I.I. Chundrigar Road
Cloth market branch
Clifton branch
Shahrah-e-Faisal Branch
Jodia Bazar branch
Korangi industrial area branch
M.A. Jinah Road Branch
S.I.T.E Branch
Paper market branch
North Karachi branch
Gulshan-e -Iqbal
Karachi stock exchange
North Napier road branch
S.I.T.E Branch
P.E.C.H.S Branch
Timber Market Branch
D.H.A. Branch
Lahore
Gulberg branch
Defense branch
Circular road branch
Township branch
LDA Plaza branch
Lets Look Ahead Towards a Brighter Future Together 11
12. Badami bagh branch
Allama Iqbal branch
Shah Alam Market branch
Rawalpindi
Mall road branch
Satellite town branch
Other Branches
Sialkot
Islamabad
Peshawar
Multan.
Faisalabad
Quetta
Sukkur
Hydrabad
Gujranwala
Rahim Yar khan
Sahiwal
Sargodha
Gujrat
Mardan
D.G.Khan
Now, Bank Alfalah is going to establish its branches in some foreign countries.
Hopefully, in Dhaka (Bangladesh) and Bahrain, its branches will be opened in the
year 2004. Some branches will also be opened in European countries. Bank is going
to establish its branches in D.G. Khan, boray-e- wala and in Bahawalpur as well.
Lets Look Ahead Towards a Brighter Future Together 12
13. ABOUT THE BANK FEATURES
(Islamic Banking)
For prosperity in Business,
Come to Islamic Banking,
For Islamic Banking,
Come to Bank Alfallah!
Bank Alfalah Limited is an established bank. It has some special features with the
help of those it is growing rapidly. The Islamic banking system has seen resurgence
in the last few years. This financial system is unique since profitability is not the
ultimate aim but the social implications of the economic decision are equally
important. Communal Welfare and social justice are integral values to be upheld
during normal course of business and can not be neglected. While profitability and
economic viability as a priority is not the sole criterion for judging the performance of
an Islamic financial Institution. This ensures a more equitable distribution of wealth
and enhanced equity participation.
While this unique form of financial intermediation can emerge as an impactful engine
of economic growth, this mode of finance needs effective nurturing before its true
potential can be realized. If implemented sagaciously Islamic banking can contribute
effectively to national economic activities. We realize the significant market that
exists in Pakistan which demands Sharia compliant financial solutions and aspire to
serve this market segment with high service and value. Bank Alfallah Islamic banking
branch units have been instituted all over Pakistan and active expansion is underway.
Our comprehensive Islamic banking product portfolio includes deposits for current
accounts, saving accounts and investment deposits, capital financing trade financing,
house financing and leasing etc which imbibe product features based on the Sharia.
At the same time there is a strong focus on research and innovation in order to give
our clients greater returns and security. We wish to promote an operating system that
is geared towards supplying state of the art cutting edge financial products and
educate potential clients in the benefits and advantages of the Islamic banking system.
Pursuit of Excellence
Lets Look Ahead Towards a Brighter Future Together 13
14. Dedicated Professionals
Outstanding Work Environment
Efficiency
Customer Services
Suggestions Asked From Customers
Employee Benefits
Computerized Working Environment
PRODUCTS
Current Account
Alfallah Musharaka Saving Account
Musharaka Time Deposits on PLS Basis
Alfallah Car Ijarah
Alfalah Corporate Ijarah
Alfalah Consumer Ijarah
Alfallah Musharaka Homes
Trade/Project financing
Import/Export Financing
Remittances
All Types of Guarantees
Safe Deposit Lockers
On Line Banking
Designing its portfolio bank is committed to develop products that give more value to
its customers in both the sectors in corporate and consumer need.
Lets Look Ahead Towards a Brighter Future Together 14
15. Competitors
Despite notable economic uncertainties, the financial strength of Bank Alfalah Limited
has greatly enhanced during the previous years. The successful expansion program
proved their capability and commitment in comparison with the competition in the
financial sector. The Banking structure in Pakistan comprises of:
Central Bank
Commercial Banks
Investment Banks
Development finance Institutions (DFIs)
Specialized Banks
Foreign Banks
Bank Alfalah is a private commercial ISLAMIC Bank so the major competitors of
Alfalah Islamic Bank are the following:
Askari Commercial Bank Ltd
Muslim Commercial Bank
Meezan Bank
Internship Program
I did internship of EIGHT weeks at Bank Alfalah Limited. There I worked in six
departments. I started up with account opening, where I learned about different types of
accounts, and how to open a new account, etc. Also I worked in TDR, CDR and
collection. Here I worked with Ms. Humera
Then I moved to Cash and Deposits Department. The in charge of this department is Mr.
Rana Ikhlaq There I learned the handling of Cash.
Then I was sent to Accounts Department where I Worked under Mr. Mubashir.
Then I was send to Foreign Currency Accounts Department. Here I worked under Mr.
Amir.
After working in Accounts I worked in Trade Finance department. The in charge of this
department is Maria Irum. Here I learned about International Banking and the procedure
of import and export.
Lets Look Ahead Towards a Brighter Future Together 15
16. Alfallah CAR ijarah
It is basically transfer of usufruct of fixed asset to another person for an agree period at
an agreed consideration. Under ijarah agreement the asset will be given to the customer
on a rent for the period agreed at the time of contract.
Following the mission of providing Islamic Based Financing, Bank Alfalah’s Islamic
Banking has introduced” Alfallah Car Ijarah” a sharia compliant car leasing scheme. It is
based on the principles of Ijarah and is completely free from the element of interest. This
product is ideal for interest aversive individuals, looking for a car financing scheme that
not only provides the convenience of a well designed product but also helps in avoiding
interest based transaction. In “Alfallah Car Ijarah”the vehicle (car) remains in the
ownership and risk of bank and the customer only pays the rental for use of the vehicle
(car) just like house rent. The “Alfallah Car Ijarah” scheme has been designed under the
supervision of our sharia advisor (centre For Islamic Economics providing training and
consultancy of Islamic Banking to Islamic Banks through its sharia advisors). Moreover
our sharia advisor Mufti Khalil Ahmad Azami shall oversee the activities of Bank
Alfallah’s Islamic Banking on day to day basis to ensure that all the documentation and
procedures are fully compliant to Islamic Laws. The sharia advisor shall also periodically
review the activities and approve its new products. .
The Centre of Islamic Economics is operating under the chairmanship of
Justice Muhammad Taqi Usmani.
On the other hand, a conventional car financing scheme is actually an interest based loan
given by the financial institution and interest is charged on that loan. Also, the lease
contact is not in compliance with Islamic Sharia and has Riba and other un-Islamic
elements in it.
Alfallah Car Ijarah gives you the flexibility of acquiring all locally assembled new cars
costing up to Rs. 1.0 million. You can pay in flexible, easy rentals over a period of 3, 4 or
5 years, with as low as 15% security deposit. Bank Alfallah Islamic Banking being the
owner of car will be responsible for insurance of the car and for paying the insurance
premium. Until the availability of Islamic Insurance in Pakistan the Insurance will be
done under the present insurance modality. Yes, you can buy the car prior to the
Lets Look Ahead Towards a Brighter Future Together 16
17. termination of lease. The rental agreement will contain the purchase price schedule. After
receiving the completed application form along with the required documents, your
application will be processed in 3-4 business days.
Car Ijarah - Islamic Car Financing
Our totally halal auto finance facility that is very affordable, with quick processing and
minimal documentation. Car financing that is very competitively priced, hassle-free, and
totally Halal. Ijarah is simply a rental agreement under which the car is given on rent for
an agreed period ranging from 3 to 5 years. There is no advance rental, no up-front
insurance payment, and as little as 20% security deposits.
Rights & liabilities of Owner v/s User
An Islamic Ijarah is an asset-based contract, i.e. the Lessor should have ownership of the
asset during the currency of the contract. Under Islamic Shariah, all ownership related
rights and liabilities should lie with the owner while all usage-related rights and liabilities
should lie with the user. A conventional lease contract does not distinguish between the
nature of these liabilities and dumps all liabilities on the user, which is contradictory to
Islamic Shariah. Under Ijarah, all ownership-related risks lie with the Bank while all
usage related risks lie with the user, thus making the Lessor the true owner of the asset
and making the income generated through the contract permissible (Halal) for the Bank.
Continuation of lease rentals in case of total loss or theft of vehicle
If the leased vehicle is stolen or completely destroyed, the conventional leasing company
would continue charging the lease rent till the settlement of the Insurance claim. Under
the Islamic system, rent is consideration for usage of the leased asset, and if the asset has
been stolen or destroyed, the concept of rental becomes void. Alfallah bank does not
charge the lease rental.
Is there a Penalty for Late Payment of Rent and how is this permissible
under Islamic Shariah?
In most contemporary financial leases, an extra monetary amount is charged if rent is not
paid on time. This extra amount is the considered as Riba and is Haram. This amount is
taken by the leasing institution. Under Ijarah, the Lessee may be asked to undertake that
if he fails to pay rent on its due date, he will pay certain amount to a charity which will be
administered through the Islamic Bank. For this purpose the bank maintains a charity
Lets Look Ahead Towards a Brighter Future Together 17
18. fund where such amounts may be credited and disbursed for charitable purposes.
Key Features of Car Ijarah
No application fee
Ease of acquiring any new locally assembled car
No upfront Insurance Payment
No advance Rental
Available in tenures of 3, 4 and 5 years
Minimum security deposit as low as 15%
• This facility is for locally manufactured cars of Suzuki, Toyota, Honda & the new
model of Santro only.
Rental Calculations
To calculate the monthly rentals simply multiply the cost of the car with the rental factors
given in the table below or use our online rental calculator
Rental Calculation for new cars**
Security Deposit 3 years 4 years 5 years
15% 0.032303 0.026765 0.023652
20% 0.030619 0.025398 0.022240
25% 0.028934 0.024032 0.021273
30% 0.027249 0.022666 0.020083
35% 0.025565 0.021299 0.018894
40% 0.023880 0.019933 0.017704
45% 0.022195 0.018567 0.016515
50% 0.020511 0.017200 0.015325
* No separate Insurance will be charged
For example: If you are interested in a car costing Rs. 300,000 for a tenure of 5 years
and are willing to pay a 50% Security Deposit, your monthly rental would be,
Lets Look Ahead Towards a Brighter Future Together 18
19. Rs. 300,000 X 0.015325= Rs.4, 597/- per month for 5 years **
(**All other costs will be charged at actual)
Required Documents for Car Finance Facility
{AGE LIMIT BETWEEN 21-55 YEARS}
1) Copy of national identity card.(new)
2) Copy of driving license (optional).
3) N.T.N certificate.
4) Copy of current utility bill of residence.
5) Bank account statement for last six months from the date of application.
6) Signature verification from banker.
7) Copy of NIC of references provided.
8) 2 passport size photographs.
Additional Requirements for Business Class Individuals
a) Copy of NIC of partners.
b) Copy of Partnership deed (if applicable)
c) NOC from other partner (if applicable)
Additional Requirements For proprietor
Business proof Bank Certificate, NTN certificate.
Additional Requirements for Salaried Persons
a) Certificate from employer showing permanent employment for the last 2 years.
b) Original salary certificate.
c) Copy of Form29 ( in case of Director of Limited Company)
How can I apply?
Simple! All you need to do is fill out a customer application form, attach the required
documents mentioned in the form and get your financing approved in a 1-2 working days.
To experience the comfort of our personalized services just visit your Alfallah Bank
Branch.
Lets Look Ahead Towards a Brighter Future Together 19
20. ALFALLAH HILAL CARD
Alfalah Hilal card is debit card that gives you access to your bank account. Alfalah Hilal
Card allows you to purchase goods merchant establishments across Pakistan and abroad
and also gives you the freedom to withdraw cash from any Visa/Electron/Plus ATMs in
Pakistan and abroad, and all Local Bank Alfalah and 1 link ATMs.
The Alfalah Hilal Card comes with all saving and current accounts except Non resident
(ordinary) accounts with joint mandate or condition mandate. However, accounts with
joint/conditional mandate can obtain the Alfalah Hilal Card on request by completing the
required formalities.
The main benefit of being a Alfalah Hilal Cardholder is that you enjoy unparallel access
to your account-whatever you want, wherever you go. Besides, you can control your
finances since the balance in your account determines your spending limit. Alfalah Hilal
Card is accepted at more locations worldwide than any other debit card available in
Pakistan. You can now enquire on your balance or withdraw cash using ATMs. You can
use all Alfalah ATMs, local 1linkATMs and all other bank’s 840,000 ATMs worldwide
on the VISA electron network for cash withdrawals. Subject to the maximum cash
withdrawals limit of Rs.50, 000/-per day. Presently, the card can be used at over 7,000
establishments in Pakistan and at over 13 million outlets worldwide, where the VISA sign
is displayed. The card is also welcomed at over 840,000 ATMs worldwide.
There is no monthly outstanding in the case of Alfalah Hilal Card. your account will be
instantly debited to the extent of purchase made or the amount withdrawn from ATMs in
addition to other charges on Alfalah Hilal Card. if in case of losing your card, it is
important to report Alfalah call center 111-225-111.or it is also advisable to report in
writing. There will be nominal charges of Rs.200 for the replacement of the card.
Lets Look Ahead Towards a Brighter Future Together 20
21. Easy Home: Islamic Housing Finance
(Musharika Homes)
Welcome to Pakistan’s long awaited totally Shariah-compliant Home Finance facility!
One that is comprehensive, affordable, and totally hassle-free. At Alfallah Bank, we are
committed to meeting our customers’ needs in a truly Shariah-compliant manner coupled
with dedicated service excellence. Alfallah Bank’s Easy Home is the answer you’ve been
waiting for
Home Financing Options
Buy Your Home: property: 80% bank: 20% customer
With this facility, you no longer need to just dream about the home you want for yourself
and your family, disbursements of bank’s shares is one time or as per terms of deal.
Build Your Home:
Land: 60% bank: 40% customer
Construction: 70% bank: 30% customer
You have a plot, and need finance to construct a home, which excites everyone in your
family! No problem. We will provide you up 70:30.construction of house/ flat to be
completed with in 12 months from the date of disbursement of the first tranche.
Renovate Your Home:
Up to a maximum of 30% of the value of your property or Rs. 2.5 Million whichever is
lower.
You already own a home, but need extra space for a growing family. One time
disbursement of bank’s shares.
Let’s Start It Together:
In” Alfallah Musharika Homes” you enter into a joint ownership agreement with the
Bank for purchase/ construction/ renovation and/ or replacement of your outstanding
housing loans to own a Musharika property, where the bank will provide you a certain
amount of financing maximum up to 80% of value of property and sign Musharika
Agreement. You also sign a Monthly payment Agreement, to pay rental for the use and
occupation of the Musharika property, and certain amount for the purchase of Bank’s
Musharika unit. The purchase of Musharika units by you shall result in Transfer of Title
Lets Look Ahead Towards a Brighter Future Together 21
22. of Musharika Property and you become the Sole Owner with a free and clear title to the
property.
All agreements used for Alfallah Musharika Homes are sharia compliant approved by our
SHARIA ADVISOR. Purchase of Musharika property through a joint ownership
agreement and Musharika agreement and then transferring the title of ownership to the
Customer through purchase of Musharika Units. This operational modus opendi makes
Alfallah Musharika Homes different from conventional bank’s mortgage loans. Bank
Alfallah participates in the cost of the Musharika property being purchased/ constructed/
renovated as joint owner whereas, in mortgages loans from conventional banks, the banks
charge mark-up / interest on the money lent to the customer. The rental charged by Bank
Alfallah is for the use and occupation of bank’s share in the Musharika property.
Documents
The following documents are required to be submitted by an applicant with the
completed application
1) 3 passport size photographs
2) Copy of NIC (new).
3) Copy of co-applicant’s NIC-NEW.
4) Copies of last Salary / Pay Slip duly attested by the HR department.
5) Salary Certificate (original) from the employer, showing the gross salary
and deductions.
6) Copy of paid utility bill.
7) Borrower’s fact sheet.
8) Copy of recent Credit Card Bill
9) Bank Statement for the last SIX months.
Processing charges
You will be required to deposit processing fee in the branch according to schedule given
below;
Processing charges: up to Rs 2.0 Million- Rs.5, 000
Up to Rs5.0 Million-Rs. 10,000
Up to Rs. 7.5 Million- Rs.15, 000
Up to Rs. 10.0 Million- Rs. 20,000
Lets Look Ahead Towards a Brighter Future Together 22
23. The processing charges shall be non refundable.
Furthermore, you will have to bear the actual stamp fee, registration fee and other
incidental charges required for registration of various agreements/ Mortgage deed/
irrevocable power of attorney etc.
Determination of BAL-IBD‘s share rent
BAL-IBD‘s share of monthly payment of rent shall initially be calculated as under:
Monthly rent * AL-IBD’s invest in property/ total value of property = BAL-IBD’s
share in monthly rent
Musharika Unit
BAL-IBD’s total Musharika investment / number of months allowed = cost of one
Musharika unit
Late Payment Charges:
No we never encourage Customers to delay the monthly payment As far as the Islamic
point of view, we can not charge any penalty on the late payment but to avoid late
payment, charge certain amount according to your undertaking in Monthly Payment
Agreement. This amount shall be utilized by BAL-IBD on behalf of customer for Charity
purposes in line with Sharia Principles.
.The Eligibility Criteria
You are a Pakistani National
If your age is between 25 and 65 years.
If you are in continuous employment for 2 years or more.
. If you have been a Bank Alfalah borrower for past one year with clean payment
record.
You can apply for minimum of 03 years and a maximum period of 20 years.
Maximum financing up to Rs.10 Million or three times of gross annual income of
the main customer plus 1.5 times of gross annual income of the spouse, whichever
is less.
If you have 3 years (or more) of business or professional experience.
If your gross annual income is Rs: 200,000/ — or more [Your spouse’s income (up
to 50%) can also be combined with yours].
Lets Look Ahead Towards a Brighter Future Together 23
24. If you require a financing of at least Rs: 500,000/- or more (maximum Rs:
7,500,000/-).
If you are eligible and provide the required information/ documentation, we will take
maximum of 3 to 4 weeks for approval depending on the amount of facility.
10 Steps to Arranging Your Bank Alfalah Home Financing
1. We provide you with all the information you need about Bank Alfalah Home
Musharika. This can be through a face-to-face meeting with our Relationship
Officer, or over the telephone, or through the post.
2. You give us some basic information about your income and the amount you need
so that we can give you an agreement in principle.
3. Once you have decided on the amount you want, you complete an application
form and pass it on to us, together with the required documents.
4. We make some inquiries about your financial circumstances.
5. We carryout a valuation of the property and verification of your income.
6. Once we have carried out all the initial processing, we send you our offer through
a “Facility Advice Letter”.
7. You sign the Facility Advice Letter and return it to us.
8. Our Documentation Control Center will get in touch with you to complete
Finance & Security documentation including legal opinion on the title documents
of the property and also the insurances.
9. You sign the Finance Agreement and Charge documents.
10. Our legal advisor will accompany you to the Registrar’s office on the
appointed date with our cheque against the financing for conveyancing of the
property and your home finance begins.
Lets Look Ahead Towards a Brighter Future Together 24
25. BANK GUARANTEES
Bank Alfallah Islamic Banking offers following types of Bank Guarantees:
Bid bond
Performance bond
Retention money guarantee
Contract Guarantee
Advance payment Guarantee
Deferred payment Guarantee
Guarantee Favoring Courts
Guarantee Securing Gas Connections
Back to Back Guarantee
Shipping Guarantee
Container Guarantee
Guarantee Favoring Collector of Customer
Financial Guarantee
Bank Alfallah Islamic Banking shall also issue guarantees securing financing
facilities to be availed from Islamic Banks and or Conventional Bank’s branches
operation under Islamic modes of financing.
Lets Look Ahead Towards a Brighter Future Together 25
26. MURABAHA FINANCE
Morabaha is a particular kind of sale where the seller (i.e. the bank) expressly mentions
the cost of the sold commodity ha has incurred, and sells it to another person (i.e. the
Customer) by adding some profit thereon. Thus morabaha is not the loan given on
interest, it is the sale of commodity for cash/deferred price. This is a mode of sale and
purchase of commodities. The agreement is made between the Bank and a Customer,
whereby Bank purchases a commodity and sells the same to Customer on a deferred
payment basis. In other words, a contract between a bank and a customer under which
the customer first purchase certain goods / commodities / assets as an agent of bank and
bank after taking possession of the goods / commodities / assets sells it to the same
customer by adding certain profit margin to its cost.
MURABAHA SALE PRICE
Cost+ Expenses incurred + Agreed profit
MODE OF PAYMENT
Immediately in cash
On mutually agreed future date
Spot Murabaha
Deferred Sale Murabaha
TYPES OF MURABAHA
(Local purchase)
Murabaha for purchase of locally available goods / commodities on defer payment basis.
It can be lump sum and or in installments.
Imported goods / commodities / Assets
Murabaha for purchase of locally available goods / commodities / assets is allowed on the
following basis:
a) Spot Murabaha
b) Deferred Payment Murabaha (lump sum/ installments)
o Pledge of imported goods/ commodities
Lets Look Ahead Towards a Brighter Future Together 26
27. o Trust receipt
COMMON FEATURES
Request from customer for purchase of specific goods /
commodities.
Appointment of customer as an agent of bank
The bank takes the possession of goods / commodities and
established its ownership
Customer offers the purchase the same goods / commodities
from the bank at a specific price to be paid on some future date.
Bank accepts customer’s offer to purchase the goods /
commodities and Murabaha documents are signed
All associated costs / charges to be incurred pre/ post Murabaha
execution, to be determined, calculated earlier and included in
Murabaha price.
In case of Import Murabaha , customer duties by the bank shall
be part of Murabaha price
Appropriate collateral / securities can be obtained as per mutual
consent.
CUSTOMER’S GUIDANCE
1. Murabaha is always allowed for Fresh Purchases.
2. Goods shall not be used by the customer before Murabaha offer and
acceptance are signed
3. Roll over in Murabaha is not allowed. However, fresh purchases can be
made under new murabaha arrangements
4. Murabaha price one fixed can not be changed.
In the late payment customer have to pay certain amount in charity fund
according to his undertaking in Murabaha agreement.
Lets Look Ahead Towards a Brighter Future Together 27
28. FUNCTIONING OF BANK ALFALLAH IS DIVIDED
INTO FOLLOWING DEPARTMENTS
OPERATION DEPARTMENT
FOREIGN EXCHANGE DEPARTMENT
CREDIT ADMINISTRATION DEPARTMENT
CORPORATE DEPARTMENT
CONSUMER FINANCE DEPARTMENT
OPERATIONS DEPARTMENTS
Operation Department has following segments:
a) Cash
b) Clearing
c) Remittance
d) Account opening
e) Accounts department
Operation Departments
Operations department of the Bank Alfalah Limited is responsible for the overall
operations of the bank. Mr.Faisal Nouman (Op’s Manager) is responsible for all function
under operation department.
The detail of those departments, which are controlled under this department, is as under.
a) Account opening
b) Cash department
c) Clearing
d) Remittances
e) Fixed Deposits:
1. Term Deposit.
2. Call deposit.
3. NDR.
Lets Look Ahead Towards a Brighter Future Together 28
29. ACCOUNT OPENING DEPARTMENT
It is most important department of bank and its major source of income for bank.
Ms.Humera operation officers deal in this department. Following procedure is adopted
for this purpose.
Procedure of Account Opening
Just fill in the Account Opening Form, bring in your original Identity Card, and get
introduced by an existing banker. This is all that you need to open a Saving Account with
us and enjoy our personalized banking services.
It is very simple and quick procedure. A person who wants to open an account must have
the introduction of bank’s staff or any already existing account holder of the bank. The
customer is required to fill an account opening form. Then signatures of the introduce are
verified from S.S. Card (signature specimen) before opening account. AOF is very
standard and up to the mark which contains almost whole information about customers.
Customer is guide to fill all columns of AOF. All formalities and requirements are
completed and verified, and all supportive documents are taken and checked according to
the nature of account. If any formality is incomplete, chequebook is not issued until it is
fulfilled.
If a person cannot sign write his / her hand thumb impression is affixed marked, which is
attested by one male or two female witnesses. Thumb impression for female right hand
and for male left hand.
Account number is allotted to the customer and all particular such as nature of account,
opening date, initial deposit, title of accounts are written in register.
Account is opened in the system (Bank Excel) by putting all the particulars of the
customers in the system. S.S. cards are handed over to in charge of operations department
for record and verification. The letter of thanks is sent to customer for confirmation of
address and other particulars of customer and one copy is attached to AOF. After
complete procedures finally the manager of bank signs the AOF and these forms are filed
in a proper sequence.
They also have to give identity letter
1) NIC copies
Lets Look Ahead Towards a Brighter Future Together 29
30. 2) Passport size photograph
One place on the form other is on SS Card they have non-bearer cheques. On their
cheque book a stamp is affixed on it there is written. Thumb impression should be fixed
in front of an officer of the bank.
Cheque book request forward by fax to the head office and cheque books will received
after one day and derived to the customer on the desk by taking their signature or if some
one else want to take on the behalf of account holder he must have to show initial deposit
slip and give ID card photo copy.
The bank does not make payment of a cheque bearing a six months or older date. If an
account is not operated in six months. It is called dormant account.
Types of Accounts
The bank different types of accounts exist.
1) INDIVIDUAL ACCOUNT
Any individual or proprietor of business can open an individual account at BAF.
PLS (profit and loss sharing) saving accounts can be opened with the minimum balance
Rs. 10,000/-. Following requirements has to be fulfilled for this account.
Signature of customer on back of AOF.
Mention next of kin (nominee)
Name and A/C # of introducer.
Verified sign of introducer.
Customer signature admitted by officer.
N.I.C photocopy attached.
Letter of thanks.
2) JOINT ACCOUNT
When different people want to or need to share a single account it is called joint account.
The names of persons are written on the title of A/C and on S.S. card.
Single person cannot open joint A/C. Both persons have to sign on cheque. When two or
more person neither partner nor trustee open account in their name is joint account.
Requirements
Sign of both customers on back of AOF
Lets Look Ahead Towards a Brighter Future Together 30
31. Sign on joint A/C # mandate
Name and A/C # of introducer
NIC copies of both members.
Mode of operation.
3) BUSINESS ACCOUNTS
When the owner of the firm operating singly, open an in his term name.
I) SOLE OF PROPRIETOR ACCOUNT
This account is for those person who has his own business and he must be the solely
owner of the business.
Requirements
Companies stamp
Declaration of proportion companies’ letterhead.
Sign on AOF.
NIC copy
Verified signature of introducer.
Sole proprietorship declaration
II) PARTNERSHIP ACCOUNT
Account title will be the name of the partnership firm.
Requirements
Sign of customers on back of AOF.
NIC copies of partners
Partnership deed (certified copy) duly attested by notary republic.
Partnership mandate (prescribed format)
Companies rubber stamp
The A/C is opened in the firm name and all partners designate one or two persons to act
behalf of the partnership firm all acts of the firm jointly and severely.
III) LIMITED COMPANY
Limited Co:
1) Private Limited
2) Public Limited
Lets Look Ahead Towards a Brighter Future Together 31
32. PRIVATE LIMITED
Requirements
Restrain on companies letterhead dully attested by chairman.
Sing of all directors on back of AOF.
NIC copies of all directors.
List of directors on companies’ letterhead.
List of memorandum and article of association.
Copy of board resolution.
Latest form 29 (if director is to be changed or in case of his death, this kind of
form is filled, it includes information that a new director has how much number of
shares with him.
Companies’ rubber stamp.
Director should attest copy of certificate of incorporation; co register an office
stamp should be affix.
PUBLIC LIMITED
1) Certificate of commencement of business
2) Same as home documents.
Club / Society / Association
These concerns are non-trading in nature. They have their own rules and regulation and
their affairs are mentioned by the committee called as a governing body or managing
committee.
1) Stamp of directors
2) NIC copies
3) Certified copy of resolution
4) Memorandum and article of association
5) List of heads on companies’ letterhead.
6) Bank account opened in their name with BAL.
7) Name of person to be specified for the operation in account.
8) The manner in which the account shall be operated.
9) Letter of registration.
Lets Look Ahead Towards a Brighter Future Together 32
33. Cheque Book Issuance
When the account is opened, then the customer is given a chequebook to sign upon and to
cash money. It proceeded as under.
Procedure
All the account opening formalities must be completed before issuance of chequebook.
Particulars of the chequebook requisition should be completed containing:
1. Account Opening Form
2. Introduction
3. Specimen Signature Card
4. Requisition slip
5. Know Your Customer Form
6. Account Number
7. Depositing of amount in account
8. Issuance of a Cheque Book
9. Entry of Cheque Book
10. Filing of AOF
Chequebook is delivered to the customer and his signature on the chequebook issuance
register. Chequebook serial number entered. In the system (FoxPro). Stock of
chequebook are balanced at the end of each day and kept under safe custody.
Earlier the banks were charging a fee for issuance of chequebook but now whenever a
new account is opened, the account holder issued a chequebook free of charge.
Bank Alfalah issues the following chequebooks.
Saving account-25 leaves
Current account 50 to 100 leaves.
Current account – 25 leaves
Foreign currency $ 10 leaves
Foreign currency 10 leaves
Loose cheques are also issued in some cases. Number of leaves can be increased on the
request up to 100 leaves.
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34. RECEIVING INWARD CHEQUES
Another responsibility &function of Account Opening Department is to receive Inward
cheques for collection of other banks. These cheques are sent to clearing official who
clears these cheques at SBP from other banks.
EVERY DAY POSTING
At the end of each day, Posting of cheque books is performed. The account opening
department makes credit vouchers of excise duty and provincial tax on chequebook
leaves, and posts it in the company.
CLOSING OF ACCOUNT
When a customer wants to close an account he has to given a hand written application to
the head of the operations department to close his account plus remaining leaves of
cheque book.
The manager first verifies the sign of account holder, and then closing is done from the
registers on the computer where the account was opened. In the file of the account holder
his account opening form is crossed. For this closing a fee of Rs. 150/- is charge in BAF.
CURRENT ACCOUNTS
Current deposits are those which are payable to bank whenever demanded by the
customer. Bank does not pay any profit on current deposits. There are of different
scheme of saving deposits, which are classified under different duration purpose and rate
of interest. Fixed deposits are those deposits which are by the bank under the conditions
that they will not be payable on demand but will be payable under fixed or determinable
future time date.
FEATURES
A sum of Rs. 500/= in cash as initial deposit is required for opening a current account and
the same may be maintained as minimum average running credit balance. No profit will
be paid on credit balances held in current accounts. The bank reserves the right to allow
opening of current a/c at its description. All deposits and withdrawal from a current a/c
will take place only at the branch where the account is being maintained. Current a/c
cannot be overdrawn, except by prior agreed agreements with the bank. The
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35. correspondence relating to current A/Cs should be addressed to manager of the branch
where the account is being maintained. A distinctive number will be allotted to each
current account and shall be quoted on all correspondence relating to the respective
account and at the time of making deposits and withdraws.
The account holder can draw sums from his account by means of cheque supplied to him
by the bank for that particular account. Account holder should take well care of the
chequebooks issued to them. The account holder will pay excise duty of Rs.4 per leaf to
the government.
PAY–IN SLIP
This slip is used for depositing the additional amount. The bank will accept the
Pakistanis notes. All cheques and other instruments should be crossed before they are
deposited for credit into the account. There shall be no restriction on number of
withdrawals in current account. The account holder is expected to maintain a minimum
running credit balance of Rs.500/. An account holder wishing to close his account must
surrender the unused cheques to the bank. The current account is computerized, thus it
generate the statement of account for all account holders periodically. Incidental charges
are beard by the account holder if its credit balance is less than Rs.500/. Service charges
of RS. 20/= will be taken by the bank, if an account is closed within 6 months from the
date of its opening.
FINANCIAL PRODUCTS
SAVING ACCOUNT
Saving accounts are opened on proper introduction with sums of credit balance within
certain limit for individual (single, joint) institutions, companies, educational institutions
etc. ABL has introduced various schemes under saving a/c are following:
Mala Maal Scheme
PLS Account
Saving 365 Account
Capital growth certificate scheme
Fund Management Scheme
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36. Khanm Bachat Scheme
Khushali Bachat Account
Term/ Fixed Deposits
PROFIT & LOSS SHARING (PLS) ACCOUNT
This account was started in 1980s after the issuing of banking ordinance in 1980 by Zia
Government to develop Islamic banking in Pakistan. In this case customer would be
responsible for bearing profit as well as loss. The bank would be within its rights to
make investment of credit balances in the PLS saving accounts in any manner at its sole
discretion and to make use of the fund to the best of its judgment in the banking business
under the PLS system. For withdrawal of larger amount, 7 days notice in writing is
required to be given:
Minimum balance is Rs.500/=
Below minimum balance charges will be debited
Not more than eight withdrawals in a year allowed
More than Rs.15000/= are not allowed to draw
Seven day notice is required for withdrawal
Profit calculated on monthly basis
Profit paid on annually basis
Profit paid on lowest balance at the end
10% Withholding Tax on minimum balance
Zakat deducted on @ 2.5%
SAVING 365 ACCOUNTS
This account is newly developed of ABL and it provides flexibility of saving account to
business people. Profit on deposits will be payable on daily product basis on balance of
RS. 500,000/- and above. However, if balance in the account falls below RS. 500,000/-
on any day, the product will be ignored. There will be no restriction on withdrawal from
the account. Zakat and withholding Tax is also applicable on the account opened under
this scheme.
Minimum balance is Rs.500,000/=
Below minimum balance, profit calculation ignored
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37. Profit calculated on daily basis
Profit paid on annually basis
10% Withholding Tax on minimum balance
Zakat deducted on @ 2.5%
CAPITAL GROWTH CERTIFICATE SCHEME
Long term deposit
Profit rate as that of PLS Saving Account
Minimum amount of deposit is Rs. 10,000/=
Amount deposited double in of 5 years
No maximum limit of Deposits
10% Withholding Tax on minimum balance
Zakat deducted on @ 2.5%
TERM DEPOSITS
Term deposits are fixation of certain amount of money for a specific span of time. These
can be of major two types i.e. short term notice deposits and long term notice deposits.
Different rates are charged for different period of times like as shown by following table.
If presented before maturity then previous period rate would be charged.
Duration Rate of interest
01 month 08.1%
02 month 10.1%
03 month 11.0%
06 month 11.5%
01 year 12.5%
02 year 13.3%
03 year 14.5%
05 year 16.4%
The instrument term deposit is like a slip containing issuing bank name, a/c # to operate
on computer, deal #, customer name, reference #, date of issue, amount, rate maturity
date etc.
CALL DEPOSITS
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38. These call deposits are presented in the bidding process as guarantee or security from the
bank that this much money is deposited in the bank. These are made in the favor the party
offering contract or any other person. The bank offer no interest rate on it because these
can be called at any time. For encashment the applicant must have to cancelled the call
deposit instrument from its beneficiary. For collection the beneficiary usually send the
authority letter for paying in the shape of Demand Draft or pay order. The call deposit
instrument containing the information regarding applicant and beneficiary name, joint
name a/c opened signature cards for encashment, reference #, amount, date of issue,
authorized signature etc.
CASH DEPARTMENT
Cash department of Bank Alfalah works under the operation department. This department
is given the complete responsibility of cash, as result of transaction in touch local and
foreign currencies. It is also responsible for the book keeping of these transactions and
the safe custody of cash.
This department performs the main function.
a) Cash receipts
b) Cash payments
Cash Receipts
In cash department depositors use deposit slip for depositing the amount into their
accounts. The officer checks if the deposit slip is properly filled up containing title of
account, A/C number, date and amount in words and figures. Detail on both counter file
and cash receipt voucher should be the same. Cash receiving officer, after twice counted
and matched with the deposit slips will handover cash to the customer. The cash details
are written on the back of the deposit slip and are also entered in cash receiving register.
Cash received stamp is affixed on the face of the deposit slip along with the signature of
the cash receiving officer.
Deposit slip and cash receiving register is given to the officer in the cash department. The
officer cash department both on cash receipt and cash receiving register do again proper
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39. checking. Officer cash department signs both the deposit slip and register. Deposit slip is
credited and posted in the concerned accounted in the system. Counter folio is given the
deposition as receipt. One consolidated cash debit voucher is posted in the system to
balance the cash.
Cheque Encashment Section:
The process of cheque encashment is done with the help of the following procedure.
1. Receiving Cheques
2. Verification of signatures
3. Computer terminal process
4. Payment of cash
Procedure
Mr. Waqar & Ikhlaq deals with cash payments the process for payment of cheque local
and foreign currency is same. First the cheque is presented by the customer or holder to
cash payment officer. He confirms that it is drawn on the same branch and the particulars
of cheque are properly filled in. one signature of the holder is taken on the back of the
cheque. Cheque is handed over to the officer cash department for scrutiny where officer
checks the date, amount in words and amount in material figures, payee’s name, crossing
if any, account number, cheque serial number, any alterations / endorsements and
signature of the customer. Account is debited and then the officer cancels cheque. It is
posted in the system and posting stamp and number is affixed on it. Cheque is handed
over to the cash payment officer for payment. One more signature on that back of the
cheque is taken from the holder to match with the first one, and then cash is paid to the
cash detail is written on the back of the cheque. Cash paid stamp is affixed on the face of
the cheque. Entry is passed in the cash payment register and system.
CLEARING DEPARTMENT
Mr.Raza deals this department. Before discussing it is necessary to know what is
“clearing”.
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40. “The process by which cheque exchanged between the collecting and paying bank and
the ensuing financial settlement is called “clearing”. This facility is provided by the state
bank of Pakistan for offsetting of cross obligations between the different banks. Clearing
is of two types.
1) Inward clearing
2) Outward clearing
Inward Clearing
When cheque drafts, etc, of our branch presented to us for clearing by the SBP. Cheque
to be honored by bank.
Outward Clearing
The cheque of other banks, which the account holder deposit in their accounts is, sends
for collection.
CLEARING PROCESS (INWARD/OUTWARD)
Here the local cheques are received that are drawn on BAF. All the cheques are received
on one counter along with the paying slips duly filled in properly containing particulars
of cheque and account holder. Counter folio of paying slip is handed over to the customer
by putting stamp for cheque received for collection for Bank Alfalah on it duly signed by
officer. These cheques are scrutinized and cheques for local clearing are separated from
OBCs. These are then entered in clearing register and cheques for collecting are entered
in OBC register and handed over the bills department of collection. Clearing officer
checks and verifies title of all the cheques deposited by the customer to confirm the good
title of the cheques. Cheques are scrutinized properly and paying slips are separated from
cheques. Special crossing, endorsement and clearing stamps are affixed on the cheques.
Cheques of each bank are sorted and arranged branch wise. All the cheques are then
entered into the clearing system of bank. Print out of the clearing is taken and details are
attached.
With the cheques of each bank. Details of these banks are then entered into the clearing
schedule containing number of cheques presented and their total amount against the name
of each bank. Then total number of cheques presented to all banks and their total amount
is written on the foot of that schedule, which is tallied with the clearing register.
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41. Next morning, these cheques are delivered to the respective banks in clearing house of
SBP between 9:00 to 9:30 AM. In the same manner, other banks present their clearing
drawn on Bank Alfalah. Total number of cheques and their amount delivered to other
banks are received from them are written on the clearing house schedule and handed over
to the officer clearing house SBP. Cheques / DD received in clearing are given to the
officer cash department of the branch for their repayment. After I proper scrutiny of
cheques, verification of signatures and confirmation of balance in the account, officer
cash department pays these cheque by canceling and posting them in the system.
If any cheque is not passed due to insufficient balance or any other reason, officer cash
department returns the same cheque by attaching a cheque return memo containing
reason for return. This cheque is entered into the cheque returned register and bank
charges are deducted according to the schedule of charges.
Second clearing is called at 2:30 PM to check the fate of the cheques presented to other
banks in the morning. If any cheque is to return, that is delivered to the same bank in
second clearing. In the same manner, if any cheque presented by Bank Alfalah in first
clearing is returned, they receive it and once again give schedule of clearing figure to the
officer-clearing house SBP containing number of cheques and their amount delivered and
received unpaid.
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42. ACCOUNT DEPARTMENT
Account department is the most important department of the bank. Because it is
concerned with:
Revenue
Expenses
Assets
Liabilities
These are the pillars of any business. In this department, all the vouchers that are posted
during one day are sent to the account department next day. These vouchers are already
posted to computer by the concerned department. So computer also sends a report to the
accounts department. The accounts department has to tell that the requirements for
cheques and vouchers are fully checked.
If any kind of renovation or construction or rebuilding is done, all is paid from the
accounts department.
Daily Customer Movements List
All the changes that are made in accounts of customer are shown in the daily customer
movement list. By using this list, people of accounts department can prepare the
vouchers.
Account department performs following activities.
Data Controlling
Reporting
Expense Management
Taxation
Pay Role
Budget Preparation
Monthly closing Monitory & Monthly Closing Statement
Preparation
Leave Record & General Administration
Fixed Assets, Record, Depreciation, Maintenance, Insurance &
Approvals
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43. Voucher preparation
Preparation of daily, weekly, monthly, and annual statement.
Budgeting and fixed assts
Employer’s benefit
Expenditure approval.
The bank does not make payment of a cheque bearing a six-month or older date. If an
account is not operated in six months, it is called dormant account.
In Account Department Function Are Performed In 3 Steps
Data controlling
Payment/disbursement/payroll system.
Reporting system
In Data controlling, vouchers are received from every department like Account Opening,
Car-Financing, Cash dept, credit card section etc and then sorting will start and sorting by
two ways
1) By Customer Activities.
2) By General Ledger
After sorting sub-sorting will start and this can also be done in two ways
1) By A/C title (current, saving, royal group, royal profit etc)
2) By Computer codes (01,02,05,019,12,029)
In disbursement and payment function they perform IBCA’s and preparing cash payment
Vouchers & pay slips etc.
In reporting different types of reports are prepared, stored in folders or mailed to head
offices. There are 6 basic reports on Daily basis.
1. Daily Branch Position. (Treasury)
2. Daily Deposit & Advances Position.
3. Daily Management Information System.
4. Daily Foreign Currency Report.
5. Daily fund Rupee position.
6. Statement of Affairs.
Weekly Reports
1. Weekly FE-25.
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44. 2. Advances & Deposit Statements.
Deposits can be categorized as follows:
1. Call Deposits
Depending on local practice Call Deposits are to be repaid immediately upon demand and
during counter hours.
2. Notice Deposits
Notice deposits are kind of fixed deposits. The minimum balance requirement for
opening the account is Rs. 500/- and payment is drawn on maturity of the specific period.
TYPES OF ACCOUNT
Riba Free - Current Account
Saving account
Riba Free - Dollar Saving Account
Riba Free - Rupee Saving Account
Riba Free Karobare Munafa Account
Current Account
A bank account that is ideal for businesses and individuals looking for Shariah compliant
banking and ease of access. With a minimum amount of only Rs.10, 000/- you can open a
Riba-Free Current Account. Offering you a range of benefits including free online
transactions, no restrictions on the number of transactions, Call Center facilities, balance
certificates, priority banking and much more.
Saving Account
A unique bank account that offers the opportunity to earn Halal profits, while enjoying a
range of added benefits. It can be opened with a minimum amount of only Rs.10, 000.
The profit on this account is calculated and paid on a monthly basis, and comes with a
variety of free benefits including personalized check books, no restrictions on
transactions, priority banking and so on.
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45. Riba Free - Dollar Saving Account
With a minimum deposit requirement of only US$100, the dollar saving account is under
a Mudarabah arrangement that is strictly in conformity with the principles of Islamic
Shariah. Profit on this account is also paid on a monthly basis and comes with a range of
benefits including checking facility, balance certificates, and personal financial
consultancy services.
Riba Free - Rupee Saving Account
A unique bank account that offers the opportunity to earn Halal profits, while enjoying a
range of added benefits. It can be opened with a minimum amount of only Rs.10, 000.
The profit on this account is calculated and paid on a monthly basis, and comes with a
variety of free benefits including personalized check books, no restrictions on
transactions, priority banking and so on.
Riba Free Karobare Munafa Account
Karobari Munafa is a savings account specifically tailored for large Corporate or GOP
controlled entities. It allows customers to earn higher returns on surplus cash balances. It
has no preset transaction limits and comes with a variety of free packaged benefits.
REMITTANCE DEPARTMENT
The need of remittance is commonly felt in today’s business. A major function of any
bank is to “transfer of funds form one place to another”. Bank Alfalah uses the following
modes of transfer of funds.
a) Demand draft (DD)
b) Telegraphic Transfer (TT)
c) Pay order (PO)
d) Call deposit
e) Pay slip
f) Money gram
Demand Draft
It is instrument, which is used to transfer amount from one city to another city it can be
made on cash as well as on cheque. If it is made through cheque that it is necessary that
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46. person must be A/c account holder while in case of cash any person can make. The
demand draft is secured mode of payment. It consists of three copies.
1) Original copy, which is given to account holder.
2) DD advice is sent to the central branch.
3) Third copy is for reconciliation. Its photocopy is kept with us (bank) while
original is sent to head office for reconciliation.
Parties Involved in DD:
♦ Purchaser
♦ Issuing Branch
♦ Drawee Branch
DD is of following two types:
DD payable
DD Paid Suspense a/c
In the first type as advice reaches for payment the immediately pay to the customer while
in later as DD presented by the customer, it is paid and the suspense account is debited.
Procedure
The client who wants to transfer his funds form one city to another fills a form requesting
the bank to prepare a DD. DD application form contains columns requiring information
for the preparations of DD e.q.
Beneficiary name
Applicant’s name
Address
Amount to be sent etc.
Bank deducts some charges against DD.
Telegraphic Transfer
It is another mode of transfer of funds. It is quickest mode of transfer of funds from one
city to another. For TT, client has to submit the application on a prescribed form of the
bank. Client can deposit money in to the bank or can request the bank to deduct the
amount against the TT along with the charges against the issuance of TT from his
account. The charges against the issuance of TT charged by Bank Alfalah.
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47. Procedure for Telegraphic Transfer Issuance
Application form is given to the customer to fill. Two signatures are taken on the form
one for request and other for receiving the instrument. All the particulars of application
form are checked and bank commission charges and with holding tax are written on the
top of the applicant form. If the customer is maintaining his account with the branch he
can give cheque for total amount of instrument plus bank charges. Cheque and
application form is then given to the officer cash department for the payment of the
cheque. After proper scrutiny, officer cash department posts whom cheque and signs the
application form to assure that payment is received. If the customer wants to pay cash,
the customer on cash counter deposits it. Cash receiving officer receives cash on the
application form along with the bank charges and withholding tax; application form is
then given to the remittances in charge for issuance of the instrument. He enters all the
particulars of the application form in the system (BPG) and computer gives an Auto
Control Number to the T.T message of receiving branch. This message is then sent
through telex to the receiving branch followed by a T.T. advice. The customer is
confirmed that T.T. has been sent.
COLLECTION
All the cheques under collection are called cheques under collection in Bank Alfalah
Limited. There are two types of bills for collection:
Outward Bills for Collection
Inward Bills for Collection
Pay Order
Written order which is issued and received to the save book or drawn or payable on same
branch. Application form is given to the customer to fill. Two signatures are taken on the
form one for request and other for receiving the instrument. All the particulars of
application form are checked and bank commission charges and with holding tax are
written on the top of the applicant form. If the customer is maintaining his account with
the branch he can give cheque for total amount of instrument plus bank charges. Cheque
and application form is then given to the officer cash department for the payment post the
cheque and signs the application form in token of payment received. If the customer
Lets Look Ahead Towards a Brighter Future Together 47
48. wants to pay cash, cash is deposited by the customer on cash counter cash receiving
officer receives, cash on the application form along with the bank charges and
withholding tax. Application form is given to the remittances in charge for issuance of
instrument. He enters all the particulars of the application form in the system (BPG) and
computer gives an auto control number to the instrument. Print out a take on the block
payment order. Two authorized officers of the branch then sign it. Instrument is the
protect graphed and given to the customers. When the instrument is presented for
payment, it is posted in the BPG and canceled by the remittances in charge after proper
scrutiny.
Call Deposit
When the party wants to give payment from itself to another party then it makes call
deposit. The bank keeps it with itself unless it does not receive instructions from other
bank. Normally it is made on cash and goes in party account.
Pay Slip
It is used when bank itself pay for any type of transaction e.g. purchased of stationary.
Money Gram
Bank Alfalah Limited, in collaboration with money gram offer remittance services to
Pakistan. “It’s basically a person to person money transfer service that allows consumer
to receive money in just a few minutes.”
Procedure
Person must have reference no.
Person must tell reference no. And compute the simple form.
Person has to show NIC and tell compute introduction after that he can obtain
money.
Vouchers are also posted in the system. When OBC is realized collection bank pays the
amount through IBCA if it is the same bank or through DD if it is another bank. If DD is
received against OBC, it is presented in the clearing for collection. If IBCA is received
the branch for the payment of OBC, certain vouchers are posted in the system.
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49. FOREIGN EXCHANGE DEPARTMENT
“The transfer of credits to a foreign country to settle debts or accounts between resident
of home country and those of the foreign country” or “the foreign bills currencies etc
used to settle such accounts”.
Foreign exchanged department deals within exports and imports. The bank acts as
exporter as well as importer bank for different parties who are in the business of export
and import.
Imports
Letter of Credits
All Letter of Credit transactions are handled in accordance with the Uniform Customs
and Practice for Documentary Credits as published time to time by the International
Chamber of Commerce. The vast network of our correspondents connected through
SWIFT ensures speedy processing of LC transactions.
Import Murabaha Finance
To facilitate the financing requirements of imports, we offer Riba free, Import Murabaha
Facility. This product is approved by our Sharia Advisor as true alternative of
conventional modes.
Other services
. We offer full range of services related to imports e.g. Contract Registration, Import Bills
for Collection, Shipping Guarantees and Advance Payments against Imports under
guidelines of foreign Exchange Manual.
Export
All goods and services sent from one country to another country.
Export Murabaha Finance
In order to facilitate the production / manufacturing of goods for onward export to
international markets, we offer Export Murabaha Finance completely Riba Free for our
exporters.
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50. SBP Islamic Export Finance Scheme
We also offer SBP Islamic Export Finance under Part I & II on Murabaha basis in line
with the Sharia principles.
Other services
We offer all export related services i.e. Collection of export bills, Negotiation under Sight
Lcs, Advising/ confirmation / Transfer of Letter of Credits opened by other banks.
Document Required For Exporter
1) National tax number
2) Registration with EPB
3) Sales tax registration
Documents to Be Attached For Exporters
Invoice
Bill of lading
Packing list
Total quantity
Net weight / carton
Gross weight / carton
Total net weight / carton
Total gross weight
Bill of exchange (original or draft)
E-form: Initial document on which total export proceeding is based. In this form,
all the conditions are given, which are necessary for exports.
Letter of credit: It is written agreement between importer and exporter.
Beneficiary certificate.
DHL certificate (TCS certificate)
Form ‘M’
Certificate of Origin (Form – A)
Payment from Importer Bank
It is the choice of importer to open L/C from any bank and the bank from which L/C is
opened can also refer to some other bank for payment. So bill of exchange is sent to refer
bank and other documents are sent to L/C opening bank.
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51. SWIFT (Standard World Wide Inter Bank Financial Transaction)
It is network among all banks. No other institute can get involved in it.
Bill Of Lading
Certificate from shipping company for loading commodities. If requirement of L/C is to
issue bill of lading in favor of L/C opening bank, then authorized dealer certificate will be
provided by bank in favor of L/C opening bank.
Bank Keep In Record
Covering schedule
Invoice
Packing list
AWB
Certificate of origin
E-form
Normally bank keeps photocopy of all documents in record.
DOCUMENTARY CREDIT
DC Department
Alfalah Bank has his full-fledged documentary credit department.
As a credit instrument and as a means of making as a payment the documentary credit is
an essential instrument for conducting word trade today. A documentary credit represents
a commitment bank to pay the seller of goods or services a certain amount provided
present stipulated documents evidencing the shipment of the goods with prescribed
period of time.
For imports or exports first the parties have to do upon a sale contract regarding the term
and condition of sale. One mode of payment is by L/C, which is secured, and now days
mostly use the business.
Letter of credit is under taking by opening bank (Negotiating bank) that it will make
payment if documents are as per terms of LC.
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52. Four Parties Are Involved In Letter Of Credit
Applicant Importer
Beneficiary Exporter
Issuing bank Bank of importer
Advising bank Bank of importer
According to import policy, no import is valid with out import license, which is issued by
the chief controller of import, and export or we can say export promotion bureau (EPB).
Types of L/C:
Letter of Credit is
1. Revocable
2. Irrevocable
1. Revocable Letter of Credit:
A revocable Letter of Credit can be amended or cancelled by the issuing bank at any
time without prior notification to the seller. This form of credit gives the buyer
maximum facility but it places the seller in difficult position when the goods are in
transit and the credit is revoked before the documents are presented and payment has
not been made on presentation. Since it offers little security to the seller, it is hardly
used in foreign trade.
2. Irrevocable Letter of Credit:
An irrevocable letter of Credit constitutes a definite undertaking of the issuing bank
to accept and pay the bills drawn upon it so long as the terms and conditions
stipulated in the letter are fulfilled.
This form of credit can be amended or cancelled only with agreement of all parties to
it. Since it gives the seller greater assurance of payment, it is always preferred to
revocable letter of credit.
Banks involve in Letter of Credit:
Following Banks are involved in letter of credit:
i. Issuing Bank (Opening Bank)
ii. Reimbursing Bank
iii. Advising Bank
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53. iv. Negotiating Bank
v. Intermediary Bank
L/C Opening Procedure
When the importer obtained import license, then the bank will open letter of credit. “A
letter of credit is undertaking by LC opening bank to put an agreed sum of money to
sellers’ bank on behalf of the buyer of the goods under clearly defined terms and
conditions”. Pakistani banks open only irrevocable LC. An essential feature of the
irrevocable LC is that it cannot be modified, altered, amended, or canceled without the
prior consent of all the parties. Party comes to the bank and fills the form, which is
provided on the payment of Rs. 100. This form is filled by the party and is return to the
bank, it includes details like.
Name of company
Address
Country of origin
Branch name
Quantity
Insurance company
Shipment from
Shipment to
One thing should also be submitted which is INDENT. If the foreign party has any agent
they will issue the indent with following details.
To Messer
Importers, etc
Document Required for “LC” Opening
When the bank opens LC, it requires following documents.
Valid import license
Performa invoice
Importer should be Pakistani
Letter of under taking form importer
Insurance cover.
After the LC is opened following entries are made.
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54. LC opening register
Margin / Liability Account Register.
Payment to Seller
The negotiating bank upon receiving the documents from the seller checks the documents
according to terms and conditions of credit upon satisfying it self of this the negotiating
bank makes payment to the seller if sight credit. It then forwards the documents to the
opening bank and reimburses it self through the opening banks account with itself.
Documents Received By the Opening Bank
Importers bank or opening bank receives the following documents form the exporter’s
bank or negotiating bank.
Bill of exchange
Invoices
Bill of lading
Packing list
Certificate of origin
Insurance
CREDIT ADMINISTRATION DEPARTMENT
The credit department as its name implies is basically concerned with the credits
extended to the individuals & institutions. The credit dept. is considered as the basic
earning unit of the bank. The overall functioning of the credit department covers the
following areas: The functioning of the credit department is again divided into two
departments whose functioning is interrelated with each other, which are:
Credit Operation Department.
Credit Administration.
Now we will take a closer look at the area of functioning of each of these departments in
the coming section.
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55. Credit Operation Department
Credit operations department as its name suggest is responsible for the control &
performance of the operations that comes under the head of the credit department.
Function of Credit Operations Department
The functions of the credit operations department extend to the following areas:
1. The function of COD rotates around the disbursement
and recovery of Morabahas. All of the morabahas are
processed using a specific procedure, which is as
follows:
i. COD books the morabaha after receiving the duly approved Risk
Appraisal Form (RA) or the approval of Offering Sheet duly
approved by appropriate credit authority.
ii. The officers dealing the morabaha do not take direct instruction
from the customers.
iii. All instructions/documentations are routed through the head of
COD/CBG.
2. COD prepares the monthly summary of the account
detailing balances of classified customers, applicable
classifications, forced sale values of securities,
overdue period, etc. These reports are prepared as per
the prudential regulations and submitted to the
management.
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56. 3. COD also prepares the report as they are needed by the
regulatory authorities.
Deal-in Products of COD
ABL currently offers the following credit facilities to its customers:
A.Morabaha- Local Purchase Order (LPO).
B.Morabaha- Trust Receipts (TR).
C.Morabaha- Payment against Documents (PAD).
D.Morabaha- Pledge/FIM.
E.Ijara- Leasing.
F.Musharaka Financing.
G.Morabaha- Export Finance.
H.Car Ijara Financing.
Documents required for approval of facility
Before extending any facility to the customers the bank has got some documentation
requirements that are to be fulfilled by the customer. These requirements are almost the
same for all the different types of facilities. The formalities are given as under:
i. Request letter.
ii. Board resolution.
iii. Signature of customer/partners/directors.
iv. Visiting card.
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57. v. NIC card.
vi. Memorandum and article of association.
vii. Certificate of incorporation.
viii. Certificate of commencement of business.
ix. Form 29 (List of directors).
x. Import/Export registration number.
xi. Financial of last three year + Audit report.
Credit Department Functions and Facilities
Credit means belief or trust. “The quality of being credible or trustworthy”. Credit as
“trust in one’s integrity in money matters and ones ability to meet payment when due”.
. The earnings of BAL are chiefly derived from interest charge and discounts. This
department is the revenue-generating department. Credit department basically has three
segments.
1) Credit marketing department
2) Credit administration department
3) Trade finance services department
Credit and advance department deals with extending loans (credit facility) to customers.
State Bank of Pakistan (SBP) has prescribed regulations, which are called
“PRUDENTIAL REGULATIONS”. Every bank has to follow these regulations. If any
bank violates the regulations it should be liable for penalties under the core spirit of SBP
PAK (RS).
Commercial Credit
A commercial Credit facility is the core business area of the Bank. The types of facilities
being offered to customers can be broadly presented as follows:
a) Facilities where the bank actually advances money against future repayment -
('Funded Credits'), and
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58. b) Facilities where the bank substitutes 'its' own credit for that of its customer e.g.
opening import Letters of Credit, issuance of bank guarantees - ('Non-Funded Credits')
Credit lines must be defined as to currency, total amount and time, purpose and the
general or specific conditions upon which they are made available to a customer. The
mark-up and/or commission rates and method of computing should be specified. The
agreement should also provide for default rate for delayed payments, unless default rate is
waived with the approval of the sanctioning authority.
Following Are the Different Types of Facilities Offered By the Bank
Funded Credits NON-Funded Credits
a) Current Finance a) Letters of Credit
b) Term Finance b) Guarantees
c) Syndication / Consortium Financing Shipping Guarantees
d) Negotiations of Export bills under L/C Bid Bonds
e) Preshipment Finance (Packing Credit) Advance Payment Guarantees
f) Import Financing Performance Bonds
i) Finance Against Trust Receipt (FTR) Others
ii) Finance Against Imported Merchandise
(FIM)
g) Contract Financing
Current Finance CF
A facility under which the bank makes available funds upto a specific amount at any
time over a specified period of time (i.e. one year) is termed as current finance. It allows
a borrower to borrow from time to time, upto the validity period, according to his needs.
The funds may be borrowed partially, be repaid and borrowed again upto the amount
established and within the time period allowed under the agreement.
This facility is a revolving advance and mark-up is charged only on the utilized part of
the facility. CF facilities are allowed primarily for working capital requirement and
repayable on demand. In order to strengthen the control environment all CF accounts
should be scrutinized by the Brand/Credit Managers and/or their designates, at least once
every month to.
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