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INTERNSHIP REPORT

AL-FALAH BANK RAWALPINDI

Submitted by: Saba Azhar Department: BBA 8 th Duration: 2006-2010

Fatima Jinnah Women University

Banker or bank is a person or company carrying on business of receiving money and collecting drafts for the customers subject to the obligation of honoring cheques drawn upon them from time to time by customers to the extends of the amounts available on their currents accounts

A banker is a dealer in capital or more properly a dealer in money. He is an intermediate party between the borrower and lender. He borrows one party and Lends to the Another

BANK ALFALAH LIMITED INTRODUCTION I am Saba Azhar Of BBA 8 th Semester. I did my internship in Bank Alfalah last year of six weeks. I had tried to grasp as much knowledge as I can within this short period. Although it was a difficult task to tap such a huge organization in such a short time but all my efforts ha e been put in to gather the re!uired information about past and present performance as well as working of institution. "uring my internship I ha e gain the following knowledge. BANK AL-FALAH Bank Alfalah #imited is a pri ate bank in $akistan owned by the Abu "habi %roup. Bank Alfalah was incorporated on &une '() (**+ as a public limited company under the ,ompanies Ordinance (*8-. Its banking operations commenced from .o ember () (**+. /he bank is engaged in commercial banking and related ser ices as defined in the Banking companies ordinance) (*0'. After a few years) the bank introduced its new identity of 1.,.2.B after the pri atization in (**+. /he management of the bank had implemented strategies and policies so the bank would become a ma3or player in the market. 4ith a partnership with the Abu "habi %roup the position of the bank became stronger which allowed the bank to in est more in re olutionary technology to increase its range of products and ser ices.

TITLE OF BANK AL-FALAH

LOGO OF BANK AL-FALAH

SLOGAN OF BANK AL-FALAH

MISSION STATEMENT /o de elop and deli er the most inno ati e products) manage customer experience) deli er !uality ser ice that contribute to brand strength) de elop a competiti e ad antage and enhance profitability) thus pro iding alue to the stakeholders of the bank.

BANK AL-FALAH BRANCH NETWORK /he Bank is fully aware that the branch network has direct implications on the ser ices that it pro ides to its customers. 4e offer ser ices through a network of (05 branches and 05 state of the art ATM machines. ,on entional Branches Islamic Banking Branches O erseas Branches A/6 6achines

DEPARTMENTS OF BANK ALFALAH As far as Bank Al78alah #td is concerned) it is one of the top in all7domestic commercial banks in $akistan. /he rapid increase in branch network shows the Bank9s performance within se en years) which is worth considerable. 1owe er) this branch works with mostly all banking operations) which are normally performed by e ery commercial bank. It has basically following departments under which it operates all functions of bank diligently. These a e main!"# (. Account opening department '. :emittances department ;. ,learing department -. Accounts department <. 4arid telecom department 0. ,ash department +. ,ar financing department 8. ,redit department *. ,redit card department (5. /rade financing department

FUNCTIONS Branch banking

2.g. "eposits) :emittances) 8oreign trade) #ockers. 2.g. ,redit ,ards) Auto loans) 1ome loans) ,onsumer durables) :/,s. e.g. /elephone banking) A/6s) Online banking 2.g. Short=#ong /erm finances) /rade finance) structured finance. 2.g. 6oney market) 8orex market) In estments) %o ernment securities) ,orrespondent banking.

,onsumer banking

2lectronic Banking

,orporate banking

/reasury > In estment

I did internship in Bank Alfalah) ,haklala scheme ; Branch for at least six weeks. In this duration) I was able to get exposure to how different acti ities are carried on in bank. I was on rotation from one department to another so to ha e a look of work in all departments of bank. /he detail of my working areas is as below?

WORKING AREA
$. ACCOUNTS

/his department is responsible to keep the record of each and e ery transaction and prepare reports about the amount of deposits and ad ances and sent to 1ead office or State Bank of $akistan on monthly) !uarterly and yearly basis. ACTI%ITIES /he accounts department deals with arious routine acti ities for the bank. /he main acti ities performed by it are@7 aA Budgeting bA :eporting cA 6aintenance > depreciation of fixed assets dA 6iscellaneous functions

MISCELLANEOUS FUNCTIONS /he accounts department also performs some other miscellaneous functions like ,losing 2ntries "aily acti ity checking :eport %eneration 6inor expense recording

I ha e ser ed ' weeks in accounts department .in this department I learnt how to arrange ouchers and then how to use them in daily accounts acti ity. I also arrange manual data in registers .In short I get the main knowledge about the accounts acti ity in banks. &. ACCOUNTS OPENING /his department is responsible for the opening and closing of accounts. In consideration of Bank Al78alah #imited) opening and=or continuing to maintain any account) the Account 1older="epositor or In estor would be bound by the terms and conditions written on the account opening form. /he first part establishes the preference regarding the type of account to be maintained. /he arious choices offered in this regard are@ ,urrent Account Sa ing= $#S Account :oyal $rofit Account /erm "eposit Account Basic Banking Account

In account opening department) I learn how to open account things which are re!uired for account opening types of accounts they deal in which are as follow i. Basic banking account ii. :oyal account

iii. ,urrent account i . Sa ing account . 8oreign currency account i. Bafayat account ii. Business accounts T'PES OF BUSINESS ACCOUNT /here are fi e types of business accounts $ersonal Account Sole proprietorship ,ompany Account $artnership ,lub=Society=Association

PROCEDURE OF OPENING AN ACCOUNT /he Account Opening 8orm ,ompletion of the 8orm Specimen Signature ,ard) ,he!ues Book :e!uisition) Online 8orm Signature "ifference 8orm Account .umber Send the form to 1ead Office Issuance Of A ,he!ue book 2ntry Of A ,he!ue book

I ha e also learned detail about all these accounts and codes use for these accounts .I ha e also open - accounts in the super ision of my super isor.

(. COLLECTION AND CLEARING /he word clearing has been deri ed from the word CclearD and is defined as@ CA system by which banks exchange ,he!ue and other negotiable instruments drawn on each other within a specific area and thereby secure payment for their clients through the ,learing 1ouse at specified time in an efficient way.D E)PLANATION By clearing means sometimes the account holder of Bank Al78alah #imited present a ,he!ue) which is not drawn on Bank Al78alah but the person) has an account in Bank Al7 8alah #imited. In this case bank accepts this che!ue in clearing department and later on collets the amount from bank on which che!ues is drawn through clearing house./his function is called clearing. I ha e also learned the process of collection and clearing of checks.

*. REMITTANCE# Remittance is transfer of funds from one place to another or from one person to another. A :emittance is an important ser ice pro ided by banks to customers as well as non7 customers. Since it is not a free ser ice it is a source of income for the bank. PARTIES IN%OL%E IN REMITTANCES 8our parties in ol ed in remittance@7 :emitter :emittee Issuing Bank $aying Bank

Remi++e One who initiates) or re!uests for a remittance. /he remitter comes to the issuing or originating branch) asks for a remittance to be made) and deposits the money to be remitted. /he bank charges him a commission for this ser ice. 1e may or may not be the branch9s customer. Remi++ee A :emittee is also called the beneficiary) or the payee. /he person in whose name the remittance is made. A remittee is also the one who recei e the payment. Iss,in- Ban. /he bank that sends or affects the remittance) through demand drafts) telegraphic transfers) or 6ail /ransfers. Pa"in- Ban. $aying Bank also knows as the drawee branch. /he branch on which the instrument is drawn. It has to make the payment Eusually located in a different city countryA. I learned and participated in the remittance acti ities of the bank such as?

/ransfer of money through cash and accounts. Bank "rafts Fakat Accounts "ispatching bills $osting of daily cash to 1ead Office Business bills $ro ide accounts description to customer. CUSTOMER RELATION#

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#ast but not least I dealt with customer relation department my seniors helped me to learn the work acti ities of this department. /hey also let me do some of these acti ities professionally and by doing it practically it was comparati ely the more learned department. /he acti ities that I learned and performed include?

8illing account opening forms "istributing mails 1andling phone calls Answer the !ueries of customer

Along with this information I also learn other things like what are the ser ices Alfalah bank is pro iding .1ow they are different from other banks in their ser ices. 4hat is their re!uirement to open new accounts or for loan purpose.

CONCLUSION Bank Alfalah is a branch where there are a considerable number of departments. /he staff members were ery nice and cooperati e with the new comers and internees. /here were other internees also but the management and the employees helped all of us to learn as much as we can and we really did learn.

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