Allied Internship Report

8/8/2019 Allied Internship Report

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Allied Bank Limited

SUBMITTED TOSUBMITTED BYManagement Science Department

M.ZAHEER MALIK REG# BBA-FA06-080

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Allied Bank Limited

TABLE OF CONTENT

SR. NO TOPIC PAGE NO.

Executive Summery 3

1.

0 Introduction 4

1.1 History of Allied Bank Limited 4

1.2 Allied Bank Objectives 7

1.4 Organizational Structure 8

1.5 Branch Working 10

1.6 Product or Services Offered 10

2.

0 Learning and Experience 19

2.0.

1 Duties and Accomplishment

19

2.0.1

.1 Account Opening 19

2.0.1

.2 Clearing Department 19

2.0.

2 New Knowledge Acquired 21

2.0.

2.1 Issuance of Cheque Book 21

2.0.2.2 Account Opening 21

2.0.2.3 Zakaat 22

2.0.

3 SWOT Analysis of the Organization 23

2.0.

4 Recommendations & Suggestions 25

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3.

0 Problem Encountered 26

4.

0 How Experience Impact My Career 26

Conclusion

28

EXECUTIVE SUMMARY

I did my internship In Allied Bank Limited, G 7/2 Sitara Market Islamabad from 1

September 2009 to 31 December 2009. As it was my first experience of work so

they rotated me in different departments like Accounts opening, Clearing, Issuance

of ATMs, cheques books and lockers, online transaction. The staff made me learns

the basics of different departments in this way. I faced a lot of difficulties during

the span of learning but I got full attention and support form the staff, and they

really made me learn a lot. During my internship I kept on consulting my internship

advisor every week. At the end of internship the manager gave me the internship

letter and evaluated my overall performance on an evaluating form.

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1. Introduction

Allied Bank Limited was the first bank to be established in Pakistan. It started out in

Lahore by the name Australasia Bank before independence in 1942; was renamed Allied

Bank of Pakistan Limited in 1974 and then Allied Bank Limited in 2005. In August 2004,because of capital reconstruction, the Banks ownership was transferred to a consortium

comprising Ibrahim Leasing Limited and Ibrahim Group. Today, with its existence of over

60 years, the Bank has built itself a foundation with a strong equity, assets and deposit

base. It offers universal banking services, while placing major emphasis on retail banking.

The Bank also has the largest network of over 700 online branches in Pakistan and offers

various technology-based products and services to its diverse clientele.

1.1 History of Allied Bank Limited

Established in December 1942 as the Australasia Bank at Lahore with a paid-up share

capital ofPKR0.12 million under the Chairmanship ofKhawaja Bashir, and his business

associates, including Abdul Rahman Malik who was amongst the original Board of

Directors, the bank had attracted deposits, equivalent to PKR 0.431 million in its first

eighteen months of business. Total assets then amounted to PKR 0.572 million. Today

Allied Bank's paid up Capital & Reserves amount to Rs. 10.5 billion, deposit exceeded Rs.

143 billion and total assets equal Rs. 170 billion. The Allied Bank's story is one of

dedication, commitment to professionalism, adaptation to changing environmental

challenges resulting into all round growth and stability, envied and aspired by many.

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http://en.wikipedia.org/w/index.php?title=Australasia_Bank&action=edit&redlink=1http://en.wikipedia.org/wiki/Pakistani_rupeehttp://en.wikipedia.org/w/index.php?title=Khawaja_Bashir_Bux&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Abdul_Rahman_Malik&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Australasia_Bank&action=edit&redlink=1http://en.wikipedia.org/wiki/Pakistani_rupeehttp://en.wikipedia.org/w/index.php?title=Khawaja_Bashir_Bux&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Abdul_Rahman_Malik&action=edit&redlink=1


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1942 - 1947: Pre Independence

In the early 1940s the Muslim community was beginning to realize the need for the active

participation in the field of trade and industry. The Hindus had since the late 1880s

established a commanding presence in these areas and industry, trade and commerce in theundivided Sub-continent was completely dominated by them. Banking, in particular, was

an exclusive enclave of the Hindus and it was widely believed, and wrongly so, that

Muslims were temperamentally unsuited for this profession.

It was particularly galling for Khawaja Bashir and Abdul Rahman Malik to hear the gibe

that Muslims could not be successful bankers. They decided to respond to the challenge

and took lead in establishing this first Muslim bank on the soil of Punjab that was to

become Pakistan in December 1942; by the name of Australasia Bank Limited.

The initial equity of the Bank amounted to Rs 0.12 million, which was raised to Rs 0.5

million by the end of first full year of operation, and by the end of 30 June 1947 capital

increased to Rs. 0.673 million and deposits raised to Rs 7.728 million.

1947 to 1974: Australasia Bank

Australasia Bank was the only fully functional Muslim Bank on Pakistan territory on

August the 14th, 1947. It had been severely hit by the riots in East Punjab. The bank was

identified with the Pakistan Movement. At the time of independence all the branches in

India, (Amritsar, Batala, Jalandhar, Ludhaina, Delhi and Angra) were closed down. New

Branches were opened in Karachi, Rawalpindi, Peshawar, Sialkot, Sargodha, Jhang,

Gujranwala and Kasur. Later it network spread to Multan & Quetta. The Bank financed

trade in cloth and food grains and thus played an important role in maintaining consumer

supplies during riot affected early months of 1948. Despite the difficult conditions

prevailing and the substantial set back in the Banks business in India, Australasia Bank

made a profit of Rs 50,000 during 1947-48.

By the end of 1970 it had 101 branches. Unfortunately it lost 51 branches in the separation

of East Pakistan which became Bangladesh. The bank did well in despite losing lot of its

assets. By the end of 1973 the bank had 186 branches in West Pakistan.

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1974 to 1991: Allied Bank

In 1974, the Board of Directors of Australasia Bank was dissolved and the bank was

renamed as Allied Bank. The first year was highly successful one: profit exceeded the Rs

10 million mark; deposits rose by over 50 percent and approached Rs 1460 million.Investments rose by 72 percent and advances exceeded Rs 1080 million for the first time

in bank history. 116 new branches were opened during 1974 and the Bank started

participation in the spot procurement agriculture program of the Government. Those

seventeen years of the Bank saw a rapid growth. Branches increased from 353 in 1974 to

748 in 1991. Deposits rose from Rs 1.46 billion, and Advances and investments from Rs

1.34 billion to Rs 22 billion during this period. It also opened three branches in the UK.

1991 to 2004: Privatization

As a result of privatization in September 1991, Allied Bank entered in a new phase of its

history, as the worlds first bank to be owned and managed by its employees. In 1993 the

First Allied Bank Modaraba (FABM) was floated.

After privatization, Allied Bank registered an unprecedented growth to become one of the

premier financial institutions of Pakistan. Allied Banks capital and reserves were Rs.

1.525 (Billion) and assets amounted to Rs. 87.536 (Billion) and deposits were Rs. 76.038(Billion). Allied Bank enjoyed an enviable position in the financial sector of Pakistan and

was recognized as one of the best amongst the major banks of the country.

In August 2004 as a result of capital reconstruction, the Banks ownership was transferred

to a consortium comprising Ibrahim Leasing Limited and Ibrahim Group.

Today the Bank stands on a solid foundation of over 63 years of its existence having a

strong equity, assets and deposits base offering universal banking services with higherfocus on retail banking. The bank has the largest network of on-line branches in Pakistan

and offers various technology based products and services to its diversified clientele

through its network of more than 700 branches.

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2005: Today

In May 2005 Ibrahim Leasing Limited was amalgamated by transferto and vested in with

and into Allied Bank Limited. ILL shareholders were issued ABL shares in lieu of the ILL

shares held by them. Application for the listing of ABL shares in all the Stock ExchangeCompanies of Pakistan was made.

1.2 Allied Bank Objectives

Allied Bank has following objectives:

1. Main objective is to earn profit.

2. To provide services to their customers and assistance in the development of

commerce and trade.

Allied Bank also has another responsibility to give service to their communities. It

watches the growth and development of his community especially the commerce and

business of the area.

1.3 Mission Vision and Values

Allied Bank Limited operates by the following Vision, Mission & Values

Vision

To become a dynamic and efficient bank providing integrated solutions and the first

choice of bank for all customers.

Mission

To provide value-added services to our customers.

To provide high-tech innovative solutions to meet customer requirements.

To create sustainable value through growth, efficiency and diversity for all

stakeholders.

To provide a challenging work environment, and reward dedicated team members.

To play a proactive role in contributing towards the society.

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Values

Integrity

Excellence in Service

High Performance

1.4 Organizational Structure

1.4.1 Management System of ABL

Successful and profitable banking management depends on two principal factors.

1. The manner in which the functions of banking, that is acquiring of deposits, theinvesting or converting such deposits into earning assets and the servicing of such

deposits, are performed.

2. The degree to which officers and employees contribute their talent to the progress

and welfare of the bank is discharging duties and responsibilities.

Allied Bank Management

Banks are managed by Board of Directors or similar person who is responsible to theowners, creditors, and the government for the well being of their institutions. The

government selects all or some of directors of ABL. Management of ABL are given as

follow:

1.4.2 Banks Information

CEO

Muhammad Aftab Manzoor is the CEO of ABL.

Directors

Pervaiz Iqbal Butt

Mohammad Waseem Mukhtar

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Farrakh Qayyum

Sheikh Mukhtar Ahmed

Abdul Aziz Khan

Mubashir A. Akhtar

Sheikh Jalees Ahmed

Management

Asim Tufail (Group Chief, Consumer & Personal Banking)

Fareed Vardag (Chief Risk Officer)

Iqbal Zaidi (Group Chief, Compliance)

Mohammad Abbas Sheikh (Group Chief, Special Assets Management)

Mohammad Aftab Manzoor (Chief Executive Officer)

Muhammad Jawaid Iqbal (Group Chief, Corporate & Investment Banking)

Muhammad Shahzad Sadiq (Group Chief, Audit & CRR)

Muhammad Yaseen (Group Chief, Treasury)

Mujahid Ali (Group Chief, Information Technology)

Shafique Ahmed Uqaili (Group Chief, Human Resources)

Khawaja Mohammad Almas (Head, Core Banking Projects)

Tahir Hassan Qureshi (Chief Financial Officer)

Tariq Mehmood (Group Chief, Operations)

Waheed Ur Rehman (Company Secretary)

Zia Ijaz (Group Chief, Commercial & Retail Banking)

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1.5 Branch Working

The Branch of ABL.Ltd is responsible to provide all services to its customer. This branch

is located in Islamabad, G-7/2 Sitara Market Islamabad.

1.5.1 Function of Branch of ABL LTD

There are following functions which are performed by Allied Bank Limited Branch. The

Bank provides deposit facility to its customers. The types of deposits are:

1. PLS Saving Account

In this type, the depositor shares profit and loss with the bank.

2. Fixed Deposits

They bear high profit, but these can only be withdrawn after a fixed period of time.

3. Current Accounts

No profit is paid on these deposits but amount could be withdrawn without any restriction.

1.6 Product or Services Offered

1.6.1 Products

Following products are being offered by ABL to their customers:

1.6.1.1 Lockers

ABL has given its customers the facility of lockers, so that they can secure their valuable

things in the lockers, for example, gold, any important documents, or anything which a

person wants to keep very safely. ABL lockers are available in three different sizes large,

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medium and small on a yearly fee. Locker holders need not have an account in the bank.

The customers get back the security fees when they close their locker facility by the bank.

1.6.1.2 Safe Deposit Lockers Insurance

The bank has already informed its safe deposit locker holders through half yearly

statement of accounts as on 30-06-09 that the bank has arranged insurance cover at its own

cost subject to the terms and conditions of the insurance policy for the losses sustained and

discovered by the reason of damage, destruction or loss by fire, burglary and locker

breaking.

1.6.1.3 Cheque Book

Cheque Books are issued after 3 days of opening of account, the first Cheque book

issuance charges costs rupees 110, second and so on Cheque books are issued on request

of the customer, customer has to submit a request form for issuance of another Cheque

book and the charges of these Cheque books are 215 rupees.

There are two types of Cheque books, the first one is of 50 leaves and the second one is of25 leaves.

1.6.1.4 Allied Cash & Card

Allied Banks ATM Debit card, also referred to as Allied Cash, can be used to withdraw

cash and may also be used as a debit card at merchant location. Allied Bank Card offers

you the privilege of using over 2000 ATMs all over Pakistan including our largest ATM

network of over 450 ATMs. Through this card you can have a experience of Cashless

Shopping at thousands of merchant locations.

Get instant cash and check balances at over 2000 ATMs nationwide. Here is what they

have to offer:

Round the clock cash withdrawals:

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Now people can make withdrawals up to Rs: 25000 in a day (depending upon your

deposit) at any ATM across Pakistan.

Balance inquiry and mini statement of account:

The ATM screen will reveal the balance in your account. A mini statement comprising of

last 8 transactions can also be obtained from the ATM.

Utility Bill Payment facility:

Pay your telephone, electricity and gas utility bills on any of out ATMs without having to

wait in long queues outside your branch.

Fund Transfer facility:

You have the power to transfer money from your account to any account of ABL

anywhere in Pakistan.

1.6.1.5 Telegraphical Transfer

Banks are offering various types of products related to funds transfer in Pakistan, assuring

the fastest delivery of funds around the globe, through telex, swift and other electronic

media.

ABL with its largest network spread all over the country is sharing quite sizeable funds

transfer business in the domestic market.

Bank has recently moved to optimize the use of electronic media to handle funds transfer

with speed. Even the shift over to Swift is at hand and a network has been established by

Central Office.

1.6.1.6 Demand Draft

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A draft is one of the most popular banking instruments in the trade circles to settle

business deals and transferring funds to one place to another place. ABL has taken radical

steps for a speedy insurance/ payment of Draft through automation and introduction of a

more simplified system based procedure.

1.6.1.7 Pay Order

Pay Order is bank instrument issued by a bank in Pak rupees at the request of a customer

to transact payment to a named payee through banking channel.

Generally payments against such cheques (pay orders) are restricted to Payees account and

as such as are required to be enrooted through a bank account locally.

1.6.1.8 Travellers Cheques

Rupee travelers cheques are one of the most convenient products launched by ABL,

which has an excellent market response. This is only issued to by the authorized branches.

With the application of government levies, nominal commission is also charged on

issuance of Traveler cheques.

1.6.1.9 Visa Credit Card

ABL as a part of its commitment to improving customer services has launched its new

ABL VISA Credit Card and it is of two kinds that are as follow:

1. Allied Visa Gold Credit Card

2. Visa Platinum Credit Card

1. Allied Visa Gold Credit Card

With your Allied Visa Gold Credit Card every Pakistani can now enjoy the benefits of a

Gold Card internationally with unmatched savings greater flexibility, convenience and

security.

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Features:

Buy Now, Pay Later

With your Allied Visa Gold Credit Card, your free credit period allows you to pay for

your purchases up to 50 days after the date of purchase. So now you can buy all the things

you want - whenever you want - at your own convenience.

Flexible Repayment

When paying your credit card bill, your Allied Visa Gold Credit Card gives you the option

to either pay the entire amount according to your statement or a minimum of 5% of your

total outstanding balance.

Cash Advance Facility

As an Allied Visa Gold Credit Card member, you are entitled up to 75% of your available

credit limit in cash. Just go to your nearest ATM with the VISA or PLUS sign and avail

the facility of withdrawing cash 24 hours a day.

Allied Easy Installments (AEI)

The Allied Easy Installments (AEI) plan provides you with the facility to pay your

outstanding card balance in equal and affordable monthly installments spread over 3, 6,

12, 18, 24, 30 or 36 months. So now you can easily afford anything from everyday

household appliances to exotic vacations abroad.

Supplementary Cards

Want to share the benefits of your Allied Visa Gold Credit Card with others? Now you

can! Treat up to two people with supplementary credit cards and pass on the many

privileges of your Allied Visa Gold Credit Card to your chosen friends and family

members.

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Balance Transfer Facility

In case you have outstanding balances on other cards, consolidate these onto your Allied

Visa Gold Credit Card with the lowest BTF rate and save more on your outstanding

payments than ever before.

Credit Protection Plus

With Credit Protection Plus, your Allied Visa Gold Credit Card provides payment cover

against:

Death, due to accident or sickness.

Permanent and Total Disability, due to sickness or accident. Temporary Total Disability, due to sickness or accident.

Terminal Illness

Zero Loss Liability

The Allied Visa Gold Credit Cards Zero Loss Liability feature protects you from paying

for any unauthorized transactions on your Card in the event that it is lost or stolen. Please

notify Allied Phone Banking immediately on 0800-22522 (within Pakistan) or on 9221-

5301094 (outside Pakistan) in case your Card is lost or stolen.

24-hour Allied Phone Banking

For any information and queries about your Allied Visa Gold Card, call Allied Phone

Banking on 0800-22522. If you are calling from outside the country, please dial 9221-

5301094.

Free CIP Lounge Access

As an Allied Visa Gold Credit Cardholder, you are eligible to avail the free lounge facility

at Quaid-e-Azam International Airport, Karachi and enjoy a variety of complimentary

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features. Relax while you watch leading television channels or select something to read

from an updated library of newspapers and periodicals. Also feel free to plug in your

laptop and mobile phone into the charging facilities provided or browse the internet or

send and receive faxes while you wait. You can also treat yourself to a wide assortment of

high quality snacks, beverages and fresh fruits.

2. Visa Platinum Credit Card

With your Allied Visa Platinum Credit Card you can enjoy exceptional benefits and a host

of local and international benefits like never before!

Features:

The Lowest Service Charge

Your Allied Visa Platinum Credit Card helps you save money where it counts. It carries

the lowest service charge in the market; lower than any other existing credit card today. So

use your Allied Visa Platinum Credit Card at your favorite places and enjoy savings like

never before.

Buy Now, Pay Later

With your Allied Visa Platinum Credit Card, your free credit period allows you to pay for

your purchases up to 50 days after the date of purchase. So now you can buy all the things

you want - whenever you want - at your own convenience!

Flexible Repayment

When paying your credit card bill, your Allied Visa Platinum Credit Card gives you the

option to either pay the entire amount according to your statement or a minimum of 5% of

your total outstanding balance.

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Supplementary Cards

Want to share the benefits of your Card with others? Now you can! Treat up to two people

with supplementary credit cards and pass on the many privileges of your Allied Visa

Platinum Credit Card to your chosen friends and family members.

Balance Transfer Facility

In case you have outstanding balances on other cards, consolidate these onto your Allied

Visa Platinum Credit Card with the lowest BTF rate and save more on your outstanding

payments than ever before.

Cash Advance Facility

As an Allied Visa Platinum Credit Card member, you are entitled up to 75% of your

available credit limit in cash. Just go to your nearest ATM with VISA or PLUS sign and

avail the facility of withdrawing cash 24-hours a day.

Allied Easy Installments (AEI)

The Allied Easy Installments (AEI) plan provides you with the facility to pay your

outstanding card balance in equal and affordable monthly installments spread over 3, 6,

12, 18, 24, 30 or 36 months. So now you can easily afford anything from everyday

household appliances to exotic vacations abroad.

Credit Protection Plus

With Credit Protection Plus, your Allied Visa Platinum Credit Card provides payment

cover against: Death, due to accident or sickness

Permanent and Total Disability, due to sickness or accident

Temporary Total Disability, due to sickness or accident

Terminal Illness

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The Allied Visa Platinum Credit Cards Zero Loss Liability feature protects you from

paying for any unauthorized transactions on your Card in the event that it is lost or stolen.

Please notify Allied Phone Banking immediately on 0800-22522 (within Pakistan) or on

9221-5301094 (outside Pakistan) in case your Card is lost or stolen.

1.6.2 Services

ABL provides many remarkable services to its customers which really serves it as its

competitive strategy. All the performance of the bank mainly depends on the services

provided by it to its customers, better and higher the services greater the performance. All

the new customers and the already existing ones really get attracted by these core

competencies of the ABL. The most prominent service offered by ABL, which

differentiates it by other banks is the online transaction facility provided by the ABL. ABL

is that one bank which has the largest network all over the country to provide this facility;

this service is provided in each and every smallest branch of ABL. Other services include

lockers, Home remittance, Hajj services, and internet baking and utility bills. ABL uses

these services to win its customers and their level of satisfaction as its competitive

strategy.

Toll Free Number Service

ABL, keeping in mind the queries and problems of its customers has set up a toll free

number, to provide convenience to its customers, so that if they face any problem they can

simply contact ABL to get guidance and help and this number cost nothing to its

customers as its a toll free number, simply its made for the convenience of its customers.

Online Services

Why should we go to the bank if we have the online facility that is, access to the online

bank?

Online Branch Network

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Online banking facilities are available to its customers maintaining accounts at all online

branches across the country. The following facilities are available:

Cash deposit to immediate credit to remote branch.

Remote cheque Encashment from any online branch.

Instant funds transfer between any two online branches.

2.0 Learning and Experience

I have worked in ABL for12 weeks and the timing of the Bank was 9:00 a.m to 5:00 p.m

and I worked their on different location of the bank.

2.0.1 Duties and Accomplishment

My duties at the bank were of different types. I was rotated in different departments I

different weeks, so that I get the exposure of different tasks in a bank. But my duties were

always supervised by the employees of ABL so that I do not make ay major mistake, as I

was an internee and didnt go through the training of 3 months, as all the employees of

ABL get before joining the bank. But still I had to deal with all the matters of the bank

under their supervision. My duties are mentioned as follows.

2.0.1.1 Account Opening

During my first three weeks in the bank I did work in account opening department. During

my training I that department I was taught that how to open the account of the customers

in the bank. That whenever a customer comes how he should be explained about the types

of accounts and the benefits provided in each account. My supervisor used to tell me that

how to fill the form of account opening, and which documents are required for opening

the account, the informations and all. But I didnt have the opportunity to enter the

accounts opened on daily basis in the software system because its a very sensitive issue

and I was not so much trained thats why I used to only fill the forms and do stamping on

them.

2.0.1.2 Clearing Department

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I also spent three weeks in clearing department. I learned to fill the deposit slips of

current and saving account in this department.

I also learned to fill the cheques in this department, as most of the customers do

not know that how to fill the cheques and deposit slips (mostly the labor class and

others who do banking by giving just thumb impression.)

I learned to do clearing of inward and outward cheques.

I learned to make demand draft.

I also learned to enter the daily inward and outward proceeding in the record.

2.0.1.3 Online Transfer of Money

In this department I learned to make transfer slips and see the online transfer of money

from branch of ABL to another, I spend three weeks in this department. I couldnt get a

chance to transfer money online myself because this is very sensitive issue. Thats why I

was assigned the duty of filling the online slips of the customers, to tell them about this

facility and solve ay of their queries. As online transfer facility is the point on which ABL

really has comparative advantage thats why a lot many people used to come for online

transfer of money every day and its a new service and people used to have many queriesand I had to solve them, thats why it kept me busy all the weeks.

2.0.1.4 ATMs Cheque Books and Lockers:

I also spend three weeks in this department. I learned to send ATM request, cheque books

and lockers request of the customers. I also learned to issue them the ATM card, cheque

books and to operate lockers. Whenever any customer used to come to collect his or her

ATM, cheque books then I used to take his or her sign o register, do stamp and write date

of issuance match is sign with sign card and then provide him his card and cheque book. It

was my duty to explain him the working procedure, so that if any customer had any query

in his mind he could as me the details.

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It was also my duty to issue lockers, that if any customer used to come to take any locker,

it was my duty to let him operate his locker and note the operating time of his locker, I

also used to tell them about the rents and security of the lockers.

2.0.1.5 Diverse Duties

Apart from the duties mentioned above, in the last week of my internship, I had to perform

some other duties as well. Calling was one of those duties, its manual checking of the

record produced by the computer pertaining encasement, transfer and collection of

cheques and other instrument like deposit slips and online slips.

I also had to do arrange the cheques in the evening.

One of my duties was also to do phone calls to customers to remind them about their ATM

cards and cheque books.

I also had to do customer care service, means if any customer had any query about any

procedure or if ha wanted information regarding any account then I had to explain him all

the procedure.

2.0.2 New Knowledge Acquired

2.0.2.1 Issuance of Cheque Book

Whenever a person opens an account with ABL, then he is issued a cheque book which is

free of cost. But for his purpose he has to fill a requisition slip, and then after about four

days of opening of accounts he gets his cheque book, which comes from Karachi.

There are two types of Cheque Books:

The first type of cheque book has 50 leaves.

The second type of cheque book has 25 leaves.

There is also another requisition slip inside each cheque book, which is used for the

purpose of reissuence of a new cheque book if the leaves of first cheque book start

finishing. There is written the title of account holder, his account number, the stamp of

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Allied Bank and the signatures of the authorized person on every page of cheque book and

also on requisition slip.

2.0.2.2 Account Opening

Account opening is the most interesting things which I have learned in ABL. To open the

account of any person an account opening form is made fill by him.

This form contains:

A signature Card

Requisition Slip

The main account opening form.

Acknowledgment

Know your customer profile

ATM application form.

These all forms will be filled by the customer and following things will be required from

the customer to attach with form:

A copy of NIC

A copy of job evidence or contract or student Id card copy.

If the customer wants to change his signature on the account opening form then he has to

fill another form.

Undertaking form.

This form contains the request of the customer to change his signature and both signatures,

the first one which he has done on his NIC and the other one which he has done in his

account opening form.

One the person completes these forms then his account is opened, the account opening

officer gets this form signed by CSM officer and the Manager of the bank. Then the

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account opening officer enters the account opened in the software system. He also scans

the Signature card and gives the Requisition slip and ATM request form to the officer

responsible for issuance of Cheque book and ATM and attaches a Letter of thanks with the

remaining forms and now the person is an account holder of the bank.

2.0.2.3 Zakaat

The deductions of Zakaat from the account of Muslims are made on the 1Ramdan

according to the Islamic rate but the people who do not want the bank to deduct Zakaat

and want to disburse it at their own; they have to provide an affidavit on the prescribed

format provided by the bank.

2.3 SWOT Analysis of the Organization

SWOT Analysis is the abbreviation of four words:

S_ STRENGTH

W_ WEAKNESS

O_ OPPORTUNITIES

T_ THREATS

2.3.1 Strengths

ABL is the first Muslim Bank of the world, which is owned and managed by its

own employees. This is the biggest strength of the Bank. A feeling of ownership is

present in every employee, which not only increasing the productivity of

employees but also creates sincerity with the Bank in them.

Strength is the high motivation of employees to their work because they know that

what so ever they do, it will be in their own benefits. They know that the profit,

which they will earn, will be distributed among all the employees So they work

with high motivation and concentration.

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Salaries are very reasonable, so the employees are not financially disturbed and

they devote their selves fully to their work.

They have wide area network in all over the Pakistan. So that they cover a lot of

portion of cash transaction and make customer satisfied.

The Bank has very strict rules and regulations about the customers complaints.

The customers are treated as very special persons in the Bank.

2.3.2 Weaknesses

No entertainment facility is available in the Bank when customers goes to the Bank

and wait for a longer time. These facilities can be the newspaper and magazines

.e.t.c

Advertisement of ABL is not as good as of other banks.

Out look of the ABL branch is not attractive to the people.

ABL is still relying on the manual work.

2.3.3 Opportunities

The policies of new government to uplift the economy and pursue financial sector

reforms are expected to yield positive results in the banking industry of the

country. The ABL is very well praised to avail promising opportunities.

They have wide area network in all over the Pakistan, if ABL can make it possible

the fast delivery of fund from abroad through online banking, it can cover the

major market of Pakistan which still is capturing by Hundi.

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The Bank has a lot of financing scheme but there is little advertisement of these

schemes. So bank should increase its advertisement.

When any one comes to use locker facility then it should be checked with metal

detector.

There should be job circulation within the branches, this thing give more

opportunity to employee to learn new things.

The circle of ATM machines should be extended to all over the Pakistan.

3.0 Problem Encountered

The biggest problem I had to face during my start of internship was the

NEW ENVIRONMENT. In the beginning I felt very hard to mix the employees of

the bank. As all of them were a kind strangers for me thats why I couldnt feel

comfortable in the very first week. Basically it was all because of being in a new

place. But after a week I started adjusting with them and after two weeks I also

felt that I am a part of this bank.

The second problem was that I had to be very formal there, like as we are

very causal and free minded in university life, but when I was in the bank, I really

felt that I have to be very formal all the time.

The other was the hectic routine of the bank. I had to go on time and work

from 9 to 5 and be formal and present minded all the time without being non

serious and as all the customers used to come for things related to finance, which

is very sensitive issue thats why I had to be very attentive all the time and no

holiday on Saturdays.

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The knowledge which we acquired from books is quite different from

practical knowledge thats why I really had to learn a lot many new things every

day.

4.0 How Experience Impact My Career

By doing internship for eight weeks in Allied Bank Limited I have gained a lot of practical

experience of doing work, which was really different from the experience of student life.

By doing internship I really gained the knowledge of banking sector, which I didnt found

so easy, I have learnt the meaning of responsibility, time management and

professionalism. Because of this experience now I can decide well that should I opt to join

banking field or should go for another one.

The real thing I gained by doing internship was the confidence and knowledge, the

confidence and knowledge which we gain from our student life is far more different from

this one, because whenever I used to talk or deal with those bankers whose are in banking

sector from more than a decade they used to give me a lot of knowledge to deal with daily

routine matters of banking sectors.

Whenever I used to interact with such highly professional bankers, I used to hesitate in the

beginning but with the passage of time I also gained that much confidence and a little

knowledge that I could interact with them more sensibly.

In the beginning it was really difficult for me to interact and work with such formal people

in such formal environment but as I said that I really learnt to work with them and talk to

them with the passage of time and now I think I will not find any difficulty in at least

understanding the environment of organizations and offices when I will start my job in

near by future. I also feel that I have also understood the basic culture and environment of

professional life which is very important to understand for doing any kind of job.

Now I really feel that the knowledge which I got by working ABL for eight weeks will

really helpful to me in future, as I have got the experience of General Banking during my

student life in my vacations from university. This experience will also help me in getting a

good job in near future because now al least I have some experience of work.

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Conclusion

At the end, I would like to say that I really treasure this internship and it's my best

experience working with UBL and I admit that I learnt a lot from bank and my department

and from colleagues as well. So it's a good time with UBL and I like all those momentsthat I spend with UBL and my department. My good wishes are always with Bank,

Department for which I have worked and for my colleague as well. May Allah Bless

Them All!!

References

All the information provided by making this internship Report has been gathered during

doing Internship in Allied Bank Limited and from the following sources:

Website of Allied Bank Limited

Bank Manager and Staff

www.abl.com.pk

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Documents

Allied Internship Report