Their contributions are highly appreciated and gratefully acknowledged. However I would like to mention some people who have been of special help to me during my studies: First of all Prophet Muhammad S. W, then to my parents and to my teachers. This report covers the internship undertaken at the Askari Bank Limited. The most important aspect in any developing country is the economic growth and the growth of its monetary based institutions. So banking sector can be considered as the backbone of economy of any country as it plays vital role in the development of the economy.
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Credit Cards Division The credit cards division CCD is responsible for managing the credit cards business of the bank. CCD is headquarter in Karachi as separate strategic business unit SBU of the bank with all internal functions including credit, operations, marketing, sales, finance and audit, perform independently. Its present focus is on managing the Askari Master Card brands, accepted worldwide also in locations in Pakistan. This was achieved through prudent risk management and effective control over operating expenses.
It crossed the cards mark during the year- a significant achievement by any standards. CCD plans to launch co-branded credit cards with major multinational and national financial institutions, and to introduce other products and services to further enhance to brand image and customer base of Askari Master Card. For the first time in Pakistan, Askari bank introduces the Platinum card in addition to the existing Gold and Sliver. RIzwan offers certain exclusive leisure and travel related facilities to its members.
It has been established to provide the strategic direction to the bank developing a futuristic out look. It plans to identify new opportunities for growth and increased profitability, and to counter any emerging threats.
For this purpose, it remains in constant touch with the market and assimilates information, both informal and formal. Human Resource Division The human recourse division HRD is responsible for managing and facilitating the most important strategic resource of any organization.
Its focus is on harnessing the potential and energy of a professional work force to ensure effective attainment of goals set by the bank. HRD continued its support to vital organs of the organization by way of timely meeting their manpower needs. During the year HRD implemented an extensive in house training program to further enhance its staffs professional capabilities. During , employees participated in these courses.
RIzwan 33 The finance division FND is the hub of all financial information for maintaining statutory accounts and measuring the performance of the bank. FND is responsible for maintaining the accounting records and systems in accordance with internal policies, regulatory requirements, corporate governance and international accounting standards.
In this age of information and technology the premium on timely financial information is enormous. FND, therefore continuous focus on optimum automation of financial information to enhance it s quality and effectiveness. Internal Audit Division The internal audit division IAD reports to the audit Committee of the board of director and as part of good governance practice primarily performs it functions independent of the management.
Its focus remains on monitoring and promoting internal controls, risk management and governance. Now customer becomes creditor of bank. It is most important department of bank and bank officers must take special care before opening the account. The accounts offered by the ACBL are of two types: 1. Accounts Of Special Customer 35 M. Executors And Administrators Account Account opening procedure The general procedure of account opening is same but the document required to open the account is different according to type of account.
The branch manager is responsible to handle job of account opening but in some cases, it is assigned to other responsible officers. Information at the time of opening of account, the bank officer must assure that customer has the following characteristics: The customer must have the age of majority, it means he must be the age of 18 according to law.
The customer must be of sound mind. The customer must not be insolvent and bankrupt. The customer must not be debarred under any law from entering into any contract. Also the bank officer must take proper information from the customer about his means, line and place of business. RIzwan 36 Account Opening Form AOF The bank officer must assure that the customer fills each and every column of account opening form correctly with all necessary details.
The specific information about the business or occupation of the customer is recorded in the form. It is preferred that the customer in the presence of introducer fills account opening form. Without the proper introduction, the new account cannot be opened. The bank officer consider following precaution in this respect. Current account holders can be introducer of both types of deposits but saving bank account holder cannot be the introducer of current account holder.
But in exceptional cases they can introduce when saving account holder maintain substantial balance and they are old and operative accounts. The staff member can become introducer if they personally known to the prospective customer. The introducer should come with the prospective customer to the bank, so there will be no doubt about the identity of customer. If the introducer does not come then bank officer must take extreme care about his signature verification. Introducer having doubtful dealing with the bank should be discreetly National Identity Card The bank officer check that number of national identity card is correctly recorded in the AOF and a copy of national identity card is kept in record by the bank.
Latterly This card I scanned in the computer and whenever customer make any transaction in this account then his signature is verified by it.
Letter of Thanks A letter of thanks is sent to customer through mailto verify his address. And a letter of thanks is send to introducer to verify him as introducer. Individual Accounts Individual accounts are classified as: i. Accounts of illiterate ladies and gentlemen Minor Accounts Joint Accounts Documents required to open individual account are: i. RIzwan 38 In case of illiterate ladies and gentlemen, two photographs are required. Instead of signature, left-hand thumb impressions are obtained on specimen signature card from gents and right hand thumb impression from ladies.
At the encashment of cheques, these customers are advised to attend bank personally and put their thumb impression on the cheques. If the cheque is presented through clearing then it will also only pay to the customer. Minor Accounts The minor can only open the saving account and only jointly with their guardian. Joint Accounts The bank will fulfill the stop payment instruction of any cheque lodged by any member of joint account but removal of these instruction must be signed by all the member If any member dies then there will be no transaction is the account and balance in the account will be paid according to instruction recorded at the tome of account opening.
The member of joint account can delegate authority to any third party to operate the account. Al the members Sign such mandate but it will be cancelled if any of the member dies, insolvent or insane. RIzwan 39 Copy of CNIC of all Partners Copy of registration certificate Copy of partnership Deed The partnership accounts are opened under the following conditions: Partnership firms can open only current account due to business concern.
All partners must sign the account opening form. The name of authorizes person to operate the account is mentioned in the form. The title of account should show name of partners The bank will fulfill the stop payment instruction of any cheque lodged by any partner of joint account but all the partners must sign removal of these instructions.
Cheques payable to the firm will not be credited to personal account of any partner. When them changes are taking place in the firm structure or if the firm is declared as insolvent then transaction in the account will be stopped. In case of insolvency, the personal accounts of partner will also become inoperative. Joint Stock Company Account Joint Stock companies include: Private Limited Companies The companies whose share capital is not offered to the general public instead the offer is restricted to particular class of society or within the family members called private limited.
These companies are not listed in stock exchange and are not transferable. RIzwan 40 Public Limited Companies Promoters and general public contribute the share capital of these companies. These companies are listed in stock exchange and their shares are transferable and brought and soled freely in stock exchange.
Certificate to commence business. Resolution of board passed under company seal to open account. CNIC Passport of all the directors authorized signatures. List of directors authorized signature The specific conditions to open the account of Joint Stock Company are: Introduction is not required for these accounts because companies are legal entities Death, retirement or dismissal of any director does not effect operation on the account.
However, death, retirement or dismissal of the directors authorized to operate upon the accounts temporarily put embargo on operations of the account. In such cases, fresh resolution authorizing another person to operate upon the account is to be called for from the company. RIzwan 41 The cheques signed by the directors before their death retirement or dismissal will be considered as valid instrument.
The operation on the account will be stopped when company terminates its career. Account opening procedure is same as mentioned before. The requisition slip is duly signed then bank officer enters cheque book series on it. The officer enters the issuance of cheque book in register. To minimize the misappropriation bank stamps the account number on each leaf of cheque book.
Bank Charges Rs. AKBL issue 25 or 50 leaves cheque book. If cheque book is lost then customer fill the From B for resonance of cheque book. Bank Charge Rs. Inactive Account If there is no transaction in any account within 6 months then account will become inactive.
Now the account will be active only by crediting some amount. Closing of Account If the customer wants to close the account then he will submit undersigned application along with unused cheque book in the bank. The remaining balance in the applicants account will be paid to account holder.
If the conduct of customer is not satisfactory then bank can also close the account but bank will give prior notice to customer to make proper arrangement of his funds. Askari commercial bank provides this service to their customer, as will as general clients.
Different instruments are use to remit the money. The instrument can be defined as It is in writing containing an unconditional order signed by the maker to pay certain amount to or to the order of a certain person for future determinable time.
The following different instruments are used to remit the funds in AKBL. It is defined as an unconditional instrument in writing drawn by a bank in a favor of any person on a branch of its own bank or any other bank to pay a certain sum of money to his order, for value received.
Virtually there is no stop payment of a bank draft. It is issued or paid to all customers and clients. Issuance Procedure of DD The customer requests on the standard application form of DD by filing all the required information like name, address where the DD is drawn, amount, mode of payment, and Signature. The bank officer checks the application form and charge commission according to the amount. The Customer Deposits the amount and commission.
internship report on askari-bank
Credit Cards Division The credit cards division CCD is responsible for managing the credit cards business of the bank. CCD is headquarter in Karachi as separate strategic business unit SBU of the bank with all internal functions including credit, operations, marketing, sales, finance and audit, perform independently. Its present focus is on managing the Askari Master Card brands, accepted worldwide also in locations in Pakistan. This was achieved through prudent risk management and effective control over operating expenses. It crossed the cards mark during the year- a significant achievement by any standards. CCD plans to launch co-branded credit cards with major multinational and national financial institutions, and to introduce other products and services to further enhance to brand image and customer base of Askari Master Card.
Internship Report on Askari Bank 2017 (New)
Dataxe It allows gaining valuable exposure and provides opportunities for skill development and gives a competitive edge in employment. The map of Pakistan illustrates the major cities where Askari Bank carries out its operations. Established in it began its operations in and offers a wide portfolio of services while maintaining a close link with the Armed forces of Pakistan as it is currently owned by the Fauji Foundation and was previously owned by the Army Welfare Trust. It keeps three sections as processing, documentation and management information system. Safety should not be taken as the meaning of security it means to safe principle amount of bank. It is very important strategy which is applied by the operation marketing department in the. The main focus of Askari Bank Limited is that in the modern competitive and uncertain era, sustained and balanced growth is the key to success with unnecessary risk to be avoided at all costs because the purpose of any bank is to ensure the safety asjari its assets and not gambling in order askar get higher profits.
ASKARI BANK INTERNSHIP REPORT 2012 PDF
Majin I did my internship at Askari bank limited Sialkot internnship it is located at Tariq road Sialkot cantt. Basharat Ali is working as Relationship Manager. The important one services of the customer service department is the ATM card facility to their customer. Cheques drawn on our bank but are presented to another bank. It also served to mold me in a more professional and mature person then I was before. It is the fastest way of transferring money.
Askari Bank Internship Report
Simply we can say to lend money bank need safety of its money. Located in Sialkot cantt which is a very good area people can easily come to the bank. Account is debited once even if there are any adjustments. Agriculture Department The role of agriculture in Pakistan economy is of pivotal nature. It was replrt inPakistanonOctober 9,as public limited. May Allah bless all of askarl. This department gives advances to individuals and companies.