INTERNSHIP REPORT

ON MEEZAN BANK
LIMITED

Prepared by: ZOYA KHOWAJA

 ACKNOWLEDGMENT
I am much thankful to “Almighty ALLAH” the most beneficent, the most
merciful who has given me the strength to complete this task. I am also
thankful to Mr. Muhammad Saleh Memon and Mr. Abdul Waheed
Memon , Branch Manager and Operation Manager respectively of
Meezan Bank Limited, Sadder Branch, Hyderabad without whose
guidance and support it would not have been possible for me to
accomplish this assignment. Furthermore, I am indebted to the staff of
Meezan Bank Limited, Sadder Branch, Hyderabad from whom I have
gained much experience regarding operational work of Bank.

The last but not the least I convey my credit and thankfulness to IMSA
University Hyderabad Campus without whose well in time support and
guidance it would be much difficult for me to achieve this task
successfully.

INTRODUCTION
Meezan Bank Limited (MBL) (the holding company) was incorporated
in Pakistan on January 27, 1997 as a public listed company under the companies’
ordinance, 1984 and its share quoted in Karachi Stock Exchange. MBL was
registered as an ‘Investment financing company on August 8, 1997 and carried on
the business of investment banking as permitted under SRO 585(I)/87 dated July
13, 1987 in accordance and in conformity with the principle of Islamic Sharaih. A
certificate of commencement of business was issued to MBL on September 29,
1997. Later, MBL was granted a ‘Scheduled Islamic commercial bank’ license on
January 31, 2002.

Meezan Bank has established itself as the first and largest Islamic Bank in Pakistan
with a large network of branches in all major cities of the country. The banking
sector is showing a significant paradigm shift away from traditional means of
business, and is catering to an increasingly astute and demanding financial
consumer who is also becoming keenly aware of Islamic Banking. Meezan Bank
bears the critical responsibility of leading the way forward in establishing a stable
and dynamic Islamic Banking system replete with dynamic and cutting-edge
products and services. Meezan Bank Limited has 222 branches in 63 cities
across Pakistan and it became the 11th largest Bank in Pakistan in term of branch
network.

Meezan Bank Limited being an Islamic Bank offering its products to its customers
strictly in accordance with the Shariah compliance. It is doing business in
Corporate Banking, Commercial Banking, Consumer Banking, Retail Banking,
Investment Banking etc., keeping in view all the norms and standards of Islamic
injunction.

Over the past ten years, the Islamic banking industry in Pakistan has witnessed
phenomenal growth through establishment of 5 dedicated Islamic Banks as well
as several Islamic Banking windows of conventional banks. Now, with a branch
network of over 300 branches in 89 cities, Meezan Bank is Pakistan’s 9th largest
Commercial Bank in terms of branch network with a very comprehensive portfolio
of Islamic financial products and services for Consumer, Corporate and
Investment Banking, thus catering to all categories of customers.

As for as different ratios of Meezan Bank Limited, they all give a healthy sign
regarding financial position of the Bank as well as operation results of the
different financial years. All ratios are fully in accordance with the Banking
Industry’s standard and norm which is a yard stick to measure the performance of
any bank. These ratios depict and indicate that the financial strength of the Bank
is on a higher side and future prospect of the Bank is brighter.

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.

MISSION:
To be a premier Islamic bank, offering a one-stop shop for
innovative value-added products and services to its 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.

SERVICE MISSION:
To develop a committed service culture which ensures the
consistent delivery of its products and services within the highest quality service
parameters, promoting Islamic values and ensuring recognition and a quality
banking experience to our customers.
 PRODUCT LINE
DEPOSIT PRODUCTS:
Meezan Bank offers the largest range of Riba-free Deposit Accounts for Personal
Banking, that is

 Rupee Current Account

 Labbiak Saving Account
 Rupee Saving Account
 Dollar Saving Account
 Euro Saving Account
 Pound Saving Account
 Meezan Bachat Account
 Business plus Account

TERM CERTIFICATES (RIBA- FREE TERM

DEPOSIT CERTIFICATE):
Meezan bank provides a complete range of short term and long term deposit
certificate with the flexibility of monthly, quarterly, semi-annual and annual
returns, that is:

 Certificate of Islamic Investment

 Meezan Amdan Certificate
 Monthly Mudarabah Certificate
 Dollar Mudarabah Certificate

CONSUMER FINANCE:
Consumer finance provides for construct a home, purchase a car, etc:

 Easy Home
 Car Ijarah
 Laptop Ease
ELECTRONIC BANKING:
Electronic Banking provides non-stop banking convenience, twenty four hours a
day, seven days a week, including:

 Visa Debit Card

 Internet Banking
 ATM Network
 Meezan Quick pay
 SMS Alerts
 24/7 Call Center

SERVICES:
Meezan Bank is dedicating in its efforts to provide a quality banking experience to
its customer via a range of unique Banking Services which includes:

 Labbaik Travel Aasaan

 Online Banking
 8 to 8 Banking
 Ladies Banking
 Home Remittance
 Western union Money Transfer
 TRAINING PROGRAM
MEEZAN BANK LIMITED SADDER BRANCH, HYDERABAD
(1601)
The incharge of Meezan Bank Limited, Sadder Branch, consists of a Branch
Manager and an Operations’ Manager. The Operations’ Manager controls the
whole staff. The staff consists of branch system administrator and operational
staff.

I started my internship on 6th march, 2017 which ended on 29th march, 2017. The
duration of the internship was about 4 weeks. The staff of the branch was much
cooperative. They imparted me training in all departments of the branch i.e.
Customer Service, Clearing, Remittance and Account Opening.

From 6th march 2017 to 12thmarch 2017, I worked in Account Opening

Department in where I learn how to open an account, how to close an account
and how to operate an account.

From 13th march, 2017 to 19th march, 2017 I worked in Customer Service where
from I learn a lot regarding attention given to customers by the staff of branch.

From 20th march, 2017 to 29th march, 2017 I worked in Clearing & Remittance
Department where I learn about Inward Clearing, Outward clearing, Transfer of
Funds.

Besides all this, I also learn about the issuance and cash of Term Deposit
Certificates before maturity or at the time of maturity and about operating the
ATM machine and issuance of ATM card.

ACCOUNT OPENING DEPARTMENT

I worked in Account Opening Department form 6th march, 2017 to 12th march,
2017. This department relates to opening new account for customers. An
Account Opening Form is given to the customer for completing and signing the
same. After completing the form in all aspect, it is then checked by the Bank
Officer and is properly signed by the customer which is also verified by the
Operations’ Manager. Then the Specimen Signature Card is also signed by the
customer. After completion of all the formalities, final approval for opening of
account is taken from the Branch Manager and an Account Number is allotted to
the customer and all the information is then recorded in the computer after its
verification. After completion of all the procedures, the bank prepares a letter and
sends it to the client at his/her postal address to pay gratitude to the customer.

SIGNATURE DIFFERENCE FORM:

The signature of the client is taken on the Signature Difference Form if his/her
signature differs with the signature of CNIC.

CHEQUE BOOK ISSUANCE:

1st time Cheque Book requisition is sent to the Head Office, Karachi for issuance
the same. Thereafter, bank sends a recommendation for 25, 50 and 100 leaves
without any charges deduction.

CLOSING OF AN ACCOUNT:
Whenever a customer wants to close an account, he/she have to fill up an
Account Closing Form along with the signature where required. For the purpose
of closing an account, account balance should be zero. Final approval is then
taken from the Branch Manager and the Specimen Card is taken back from the
customer, which is then attached with the form. In this way, account is then
closed.

ISSUANCE OF ATM/PIN:
Meezan Bank limited provides the ATM facility to its customers where they can
withdraw their amount any time. For issuance of ATM card, customer has to fill
and sign the ATM form. The Bank Officer records all the information into the
system and approximately within 15 days, bank receives an ATM card from the
Head Office which is the issued to the customer.

For the issuance of PIN and activation of ATM, customer has to call the help line
(111-331-331). After the verification of the customer, a PIN number is then issued
to the customer and his/her card is activated.
SERVICE QUALITY DEPARTMENT
I worked from 13th march, 2017 to 19th march, 2017 in this department where I
learnt a lot about floor time management and quality assurance affairs in branch.
While standing near the main gate we must ensure that customers coming into
MBL are properly looked after. We should also create a sense of ownership of
service quality and also develop a service mindset and ultimately a quality service
culture at MBL. Furthermore, we have to manage the sale and service area of the
branch to provide maximum opportunities to our clients as well as provide a
sense of comfort and personal attention.

FLOOR TIME MANAGEMENT:

Floor Time management is all about maintaining and filing daily work sheet of
Floor Time Management and recording customer’s complaints in the CRM.
Complaint handling and its follow up is made on daily basis. Modifications and
improvements are suggested in the system and process. It is very necessary to
make coordination between the Branch and the Head Office regarding service
quality. Lead Floor Manager is assigned duty first of all.

RESPONSIBILITIES OF FLOOR MANAGER/LEAD

FLOOR MANAGER:
Lead Floor Manager welcomes all the customers and introduces himself with a
smiling face. He is responsible for checking the branch cleanliness and pleasant
atmosphere. He also checks the availability of customers’ stationary where
needed, as well as maintains the notice and assists in SQ. Individual customers are
provided comprehensive services. He moves around the banking hall and cash
counters area to ensure that every customer is looked after properly.

CLEARING AND REMITTANCE

DEPARTMENT
After learning in Service Quality Department, I worked in Clearing and Remittance
Department from 20th march, 2017 to 29th march 2017 where I learnt their about
Clearing of different cheques and Remittance handling. I was told there about the
main objects of clearing. The important part of Clearing is ‘Stamping’. Bank’s
stamp, Clearing stamp and next date’s stamp should be there on the cheque for
the purpose of clearing. A Crossed cheque should be endorsed with “Payee’s
Account Credited”. If there is no crossing over the cheque, then it should be
endorsed with “Open-Ended Bearer”.

INWARD CLEARING:
In Inward Clearing, the cheques received from banks are processed in the service
branch where the operator performs amount entry, account entry, cheque
verification, balancing and bundling of the cheques. Once verification is complete,
the cheques are sent to the Clearing House and the accounts of the customers are
then credited. Those cheques that failed validation due to discrepancies are sent
back to the originating branch to be corrected.

OUTWARD CLEARING:
In outward clearing the deposited cheques are scanned and the operator
performs amount entry, account entry, cheque verification, balancing and
bundling of the cheques at the branch level. The cheques are then sent to a
service branch and after that the account of the customer is debited after
verification.

REMITTANCE:
Remittance department transfer the funds from one bank to another bank and
one place to another place. In this department collection takes place. MBL makes
payment of only open cheques at the counter and prohibits the payment of
crossed cheques. MBL transfer money from one place to another place by way of
payment order, demand draft, inward collection and outward collection.

NIFT:
Clearing House of SBP has shifted a part of its work to private institution named
NIFT (NATIONAL INSTITUTIONAL FACILITATION TECHNOLOGY) through which all
the process work of Inter-city Clearing is done. It contains the stamp of “Intercity”
and “Account Will Be Credited”.
NIFT collets Cheques, Demand Drafts, Pay Orders, Travelers Cheques, etc. from all
the branches of different Banks within the city and send them to the branches on
which these are drawn for clearing.

NIFT prepares a sheet for each branch and send it respectively to each branch as
well as to the State Bank of Pakistan where banks accounts are settled. NIFT
provide their envelopes of different cities to the banks.

Places where there is no facility of NIFT is provided, there the cheques are
preceded through OBC (OUTWARD BILLS COLLECTION). OBCs don’t contain any
clearing stamp. Charges for NIFT are Rs.174 and charges for OBCs are Rs.174.

CONCLUSION
As far as business of the bank is concerned it is quite up to the mark keeping in
view the standard of banking industry. Bank is giving better services to its
customers as well as better facilities to its employees. Its employees are making
an untiring effort to increase the profit of the company on year to year basis as
well as the wealth of the shareholders. Bank is offering many products to its
customers which are increasing the margin of the bank. Its profit from operation
seems to be reasonable and is showing an increasing trend on year to year basis.
Furthermore, Gross Profit Margin is also reasonable; Profit Margin is also showing
a healthy sign. Bank’s future is very much secure and it will definitely flourish very
soon.