This is a internship report of meezan premium islamic bank

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2. Internship Report on
Meezan Bank Limited
March Bazaar
Sukkur
Submitted By: S. Ali Abbas Shah (Internee)
MBA 3rd
Year (SALU Khairpur)
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3. ACKNOWLEDGEMENT
Internship training for the students of and Business and Commerce is a
complimentary portion of the education, where students are put at various
organizations of their respective specialization; to see and apply their theoretical
knowledge what they have studied during their academic program at the institute.
Meezan Bank is one of those organizations where student can achieve his/her
academic and professional knowledge productively.
In the preparation of this internship report, I acknowledge the encouragement and
assistance given by a number of people from Meezan Bank Limited. I found
every one very co-operative and helpful for providing me the
theoretical as well as practical knowledge about the function and operation
of the bank. I am heartily grateful to Sir Asgar Ali Baloch (B.M), Khair
Muhammad (O.M), Shafqat Memon, Fasial Abbasi, Riaz Malik, Karamullah
Bahpar, Sayed Muzamil Shah Rizvi and also other employees for their
collaboration.
Thanks once again to all
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5. Contents
Serial No Names Page No
1. Abstract 5
2. History of banking 6
3. History of Islamic Banking 9
4. History of Meezan Bank Limited 14
5. Mission and Vision Statement 15
6. Shahriha Supervisory Board 16
7. Meezan Bank Segments 17
8. Products, Services and Competitors 18
9. Training Program 20
a. S.Q.C and Floor Timing Management 21
10.Clearing and Remittance Department 22
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6. a. Types of Clearing 23
11.Account Opening Department 24
12.Cash Department 27
13.SWOT Analysis 28
14.Suggestion and Recommendation 30
15.Meezan Bank Branch Network 31
ABSTRACT
This report is specially meant for a student of Business Administration. It is
concerned to a brief study of the operations, functions, Products and Services of
Meezan Bank.
Meezan Bank is the largest Islamic Banking Network of Pakistan. Islamic
banking one of the fastest growing segments of the financial industry. Banks
serving the Islamic population must comply with several very specific principles
of Islamic law if they hope to retain existing customers and attract new ones.
Banks must be ready with specialized products and services and they must put
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7. programs in place to train their personnel to support these products and services in
order to exist in this competitive marketplace.
This Report contains detail of MBL Management structure, Operations, products,
Services and Functions along with their features.
History of Banking
History of Banking in Pakistan starts from the partition of Indo-Pakistan sub
continent in August, 1947. At that time, the areas consisting Pakistan had 631
offices of 45 scheduled banks out of which 487 were located in West Pakistan and
114 in East Pakistan which was also served by 500 offices of small and non-
scheduled banks. There were 19 branches of foreign banks in Pakistan but they
had a very limited role to play.
Just after the partition, the Indian bankers started immigrating and shifting the
head offices of their banks and capital to India. It caused a great set back to the
banking field in Pakistan, and resulted in decline in the number of offices in
schedule bank from 631 to 195 by 30th June, 1948. The West Pakistan the
number fell from 487 to 81 in East Pakistan from 144 to 69 by 30th June, 1951.
Among these Habib Bank Ltd., with 25 offices and Australia Bank Ltd. with 19
offices were institutions run by Muslims who shifted their head offices to
Pakistan.
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8. The technical and administrative difficulties of establishing a central bank just
after independence compelled Pakistan to enter into an agreement with the
Reserve Bank of India by which the bank was to perform the function of a central
bank in this area also up to 30th September, 1948. The Reserve Bank of India
started following wrong policies against the interest of Pakistan. The situation
became so grave that after the consultation of two governments the Reserve Bank
of India was asked to finish the agreement from 30th June instead of from 30th
September, 1948. So the Government of Pakistan decided to establish the State
Bank of Pakistan as its central bank from 1st July, 1948. In the same year first
Pakistani notes in the denomination of Rs.5, 10, and 100 were issued and Indian
currency was withdrawn from circulation. After it the government was advised to
a bank which should serve as a agent of State Bank of Pakistan. On this
suggestion National Bank of Pakistan which was established in 1949 to finance
jute trade in East Pakistan to take over the agency functions from the Imperial
Bank of India. Furthermore banking companies control act 1949 was promulgated
which empowered the State Bank of Pakistan to control the operation of other
banks. To boost the economic development the State Bank of Pakistan encourage
the commercial banks and gave them schemes to advance in the agricultural and
industrial fields. In addition to this specialize financial. Institutions were set up to
meet the acute shortage of funds in these fields.
The State Bank of Pakistan's policy encouraged expansion in established banks,
establishment of new banks, and weeding out of unsound banks just to faster the
growth of banking system in the country. This policy not only established the
banking system by 1965 but increased its functional efficiency, scope of
operations and soundness to a great extent and the following banking structure
emerged:
1. STATE BANK OF PAKISTAN (CENTRAL BANK)
2. COMMERCIAL BANKS.
3. SAVING BANKS
4. CO-OPERAT1VE BANKS
5. EXCHANGE LANES
6. SPECIALIZED FINANCIAL INSTITUTIONS
There are two types of the COMMERCIAL BANKS
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9. 1. Scheduled
2. Non-scheduled banks
According to the State Bank of Pakistan Act,1956 a bank having a paid up capital
and a reserve of rupees five lacs and fulfilling certain other requirements can be
scheduled with the State Bank of Pakistan. With the opening of the State Bank of
Pakistan and the keen interest which it took in the establishment of the sound
banking system in Pakistan despite the separation of the East Pakistan,
commercial banking made a tremendous progress which can be judged from the
following figures. Offices of the following 14 banks (scheduled) increased from
195 to 1948 to 3600 with 71 branches outside Pakistan in 1972, deposits from 88
Crores in 1948 to 1900 crores in 1972 and advances from 20 crores in 1948 to
1250 crores in 1972.
1. National Bank of Pakistan
2. Habib Bank Ltd.
3. Habib Bank (Overseas) Ltd.
4. United Bank Ltd.
5. Muslim Commercial Bank Ltd.
6. Commerce Bank Ltd.
7. Australasia Bank Ltd.
8. Standard Bank Ltd.
9. Bank of Bahawalpur Ltd.
10. Premier Bank Ltd.
11. Pak Bank Ltd.
12. Sarhad Bank Ltd.
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10. 13. Lahore Commercial Bank Ltd.
14. Punjab Provincial Co-operative Bank Ltd.
On January 1, 1974 the Government of Pakistan nationalize all the Pakistani
scheduled banks including State Bank of Pakistan, industrial Bank of Pakistan,
Agricultural Development Bank of Pakistan through the bunk- nationalization act,
1974 to achieve the desired objectives. The weaker commercial banks were
merged with stronger ones and in all five major banking companies were formed.
1. NATIONAL BANK OF PAKISTAN
2. HABIB BANK LIMITED
3. UNITED BANK LIMITED
4. MUSLIM COMMERCIAL BANK LIMITED
5. ALLIED BANK OF PAKISTAN
The Federal Government also set up a Pakistan Banking Council on March 21,
1974 to look after the organizational and operational matters including evaluation
and progress of the nationalized commercial banks. The State Bank was to
provide the overall policy guidelines to commercial banks.
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11. History of Islamic Banking
In the early stages of 20th century, the Islamic banking was only limited to
models and modus operandi. The full-fledged system of Islamic banking was
introduced in 1960s by an Egyptian bank 'Myt Ghamr'. The earliest Islamic banks
faced serious challenges ranging from general suspicions about their viability to a
common mistrust about their intentions. Since then, the Islamic banks have been
steadily growing to a remarkable level at this stage. During the last decades,
financial instruments used by Islamic banks have developed significantly, both
on assets and liability sides. Many instruments have been developed to mobilize
financial surpluses. A number of Islamic banks have launched investment
instruments in the form of certificates with short-term maturities or have
established funds earmarked for certain investments. Accordingly, at present,
there are around 70 countries in which the Islamic financial institutions are
operating in full-fledged or in part. Recently six countries including Bahrain,
Saudi Arabia, Malaysia, Indonesia, Brunei and Sudan have signed a memorandum
of understanding (MOU) for establishment of the first International Islamic
Financial Market (IIFM) in co-operation of Islamic Development Bank (IDB).
IIFM is designed to provide a co-operative framework among around 200 Islamic
banks and financial institutions all over the world. A Liquidity Management
Centre (LMC) is also working in Bahrain which addresses the critical need for
liquidity management by Islamic banks in line with the Shariah principles.
The Islamic Financial Institutions (IFIs) can be divided into two broad categories:
1. Islamic commercial banks; and
2. Islamic investment institutions and international holding companies
Legendary names of Islamic finance are as follows:
Banks / Financial Institutes Countries
Darul-Mal Al-Islami Switzerland
Dallah Al-Baraka Group Saudi Arabia
Bahrain Islamic Investment Bank Bahrain
Al-Rahji Banking and Investment
Corporation
Saudi Arabia
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12. Al-Meezan Bank Pakistan
Faisal Islamic Bank Egypt
Jordan Islamic Bank Jordan
Islami Bank Bangladesh
Bank Islam Malaysia Berhad Malaysia
Dubai Islamic Bank UAE
Kuwait Finance House Kuwait
Al-Baraka Islamic Investment Bank Pakistan
Islamic financial institutions are diverse and becoming increasingly innovative.
Value of their assets has reportedly exceeded $200 billion with a steady growth
rate of 10-15 percent per annum. They represent a small but dynamic market, no
longer confined to its original strongholds in the Middle East and South East
Asia. In USA, UK and a number of other European countries, various Islamic
funds have existed for a number of years. Some conventional financial institutions
of international standing have established Islamic banking subsidiaries and
windows. Many banks, both in the Muslim world and outside, are offering Islamic
financial products and take active part in capital market transactions. Liquid
instruments are emerging through Securitization by way of Islamic finance like
equity/mutual funds. There is also Dow Jones Islamic Market Index.
In Pakistan, the process of Islamic financing and banking started with the reforms
in specialized financial institutions like NIT, ICP and HBFC in conformity with
the Islamic principles. From 1st July, 1985 all the commercial banking operations
were made 'interest free'.
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13. Establishment of Islamic Bank as per to the Requirements of State Bank of
Pakistan:
Recently, State Bank of Pakistan has allowed the formation of full-fledged
Islamic banks in the private sector. The existing scheduled commercial banks
were also authorized to open subsidiaries for Islamic banking operations. Such
subsidiaries shall be considered as the Islamic Banking Subsidiaries and shall
have a separate body of governance. It is a statutory requirement for the bank to
appoint a Shariah Adviser / Shariah Supervisory Committee consisting of Shariah
scholars of repute to advise the Islamic bank on matters pertaining to Shariah.
Shariah Adviser / Committee will be responsible to vet all agreements, and
products offered by the Islamic bank. The detailed criteria for setting up Islamic
Banking Subsidiaries have been issued by the State Bank, which are highlighted
as below:
1. The proposed subsidiary shall be a Public Limited Company and
shall be listed on the Stock Exchange;
2. The banking subsidiary (Islamic) are required to conduct the banking
activities strictly in accordance with the Shariah principles;
3. To commence the business, the subsidiary shall have a minimum
paid up capital of Rs. 1 billion; and
4. At least 51% of the total paid up capital shall be subscribed by the
(parent) banking company, and a maximum of 49% of shares shall be
offered to public.
Islamic Banking Division: The bank shall be required to set up an Islamic
Banking Division (IBD) at the head office / country office in Pakistan. The bank
is also required to prepare a full detail of the organizational structure of the IBD
and submit to State Bank. The responsibilities of IBD are as follows:
(a) To manage and be responsible for the operations of Islamic
Banking Branch (IBB) including policy and procedural matters;
(b) To liaise with other departments in the bank and the Shariah
Adviser / Committee to ensure smooth operations of IBB;
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14. (c) To ensure that all funds pooled into the Islamic Banking Fund
(IBF) are channeled into Shariah complaint financing and investment
activities;
(d) To arrange training of staff on Islamic banking;
(e) To arrange for compilation and submission of such returns, as may
be required to be submitted to State Bank from time to time;
(f) To ensure that all directives and guidelines, particularly those
applicable to Islamic banking, issued by State Bank are strictly
complied with;
(g) To maintain the Statutory Cash Reserve and Liquidity
Requirement with State Bank as prescribed by State Bank from time to
time; and
(h) Other roles and responsibilities as determined by the bank or State
Bank from time to time.
Islamic Banking Fund (IBF): The bank shall be required to maintain a minimum
fund of Rs. 50 million or 8% of risk weighted assets of IBB, whichever is higher.
The funds of Islamic Banking shall be funded by the head office or its country
office and controlled by the IBD for the operations of IBB.
Shariah Compliance: Obviously, the sole purpose of the Islamic bank is to
conduct banking strictly in accordance with the Shariah principles, as outlined in
Holy Quran and Sunnah. The bank is required to ensure the Shariah compliance
on all the agreements, and products and services offered and handled by the IBD
and / or IBB. The responsible authority for the Shariah compliance is the Shariah
Adviser / Committee consisting of Shariah scholars having sufficient related
knowledge, qualifications and experience. The Shariah adviser or Shariah
Supervisory Committee, appointed by the bank, shall advise the IBD on all of the
business matters pertaining to Shariah.
Islamic Financial Accounting Standard:
Recently the Institute of Chartered Accountants of Pakistan (ICAP) has issued the
first Islamic Financial Accounting Standard (IFAS) 1 -Murabaha. The purpose of
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15. this Standard is to provide guidance for the transactions regarding Murabaha.
Murabaha is a particular kind of sale where seller expressly mentions the cost he
has incurred on the commodities to be sold and sells it to another person by
adding some profit or mark up thereon which is known to the buyer.
Thus, Murabaha is a cost plus transaction where the seller expressly mentions the
cost of a commodity sold and sells it to another person by adding mutually agreed
profit thereon which can be either in lump-sum or through an agreed ratio of
profit to be charged over the cost, thus resulting in an absolute price. According
to IFAS 1, Murabaha should fulfill the following conditions:
(a) The thing or commodity is in existence;
(b) It is owned by the seller;
(c) The bank must have a good title to the commodity before it sells it
to its clients; and
(d) The commodity must come into the possession of the bank,
whether physically or constructive, in the sense that the commodity
must be its risk, though for a short period.
For a Murabaha transaction, the bank itself may purchase the commodity and
keep it in its possession. But, as soon as the client purchases the commodity from
the bank, the ownership, as well as the risk, passes to the client. According to this
Standard, for a valid Murabaha transaction, the financing must be in accordance
with Shariah principles.
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16. History OF MEEZAN BANK Limited (MBL)
Meezan Bank Limited, a publicly listed company was incorporated on January 27,
1997 and started its operations as an investment Bank in August that year. In
January 2002 Meezan bank was granted as nations full-fledged commercial bank
licensee as a dedicated Islamic Bank, by The State Bank of Pakistan. Meezan
Bank is the first and largest Islamic Bank in Pakistan having a network of over 220
branches in over 60 cities across Pakistan. Meezan Bank offers a complete range of
Islamic banking products and services, including free online banking for all Pak
Rupee account at all its branches. Meezan Bank today a noteworthy point along
with the evaluation of Islamic Banking in Pakistan. Meezan Bank 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 dynamic and stabled Islamic Banking
System.
Meezan Bank offerings valuable products and services to its customers without any
violation of shariah principles.
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17. MISSION & VISION STATEMENT OF MEEZAN BANK
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 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.
Service Mission
To develop a committed service culture which ensures
the consistent delivery of our products and services
within the highest quality service parameters,
promoting Islamic values and ensuring recognition and
a quality banking experience to our customers.
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18. SHARIAH SUPERVISORY BOARD MEEZAN BANK
The basic principle of Islamic banking follows the laws of Sharia, known as Fiqh
al-Muamalat (Islamic rules on transaction). The term “Islamic banking” is
synonymous with “full-reserve banking” and “Sharia-compliant banking.”
Members of the Shariah Supervisory Board of Meezan Bank are Internationally-
renowned scholars, serving on the boards of many Islamic banks operating in
different countries.
The members of the Board are:
 Justice (Retd.) Muhammad Taqi Usmani (Chairman)
 Dr. Abdul Sattar Abu Ghuddah
 Sheikh Essam M. Ishaq
 Dr. Muhammad Imran Ashraf Usmani (Shariah Advisor)
The Board of Directors of Meezan Bank:
 H. E. Sheikh Ebrahim Bin Khalifa Al-Khalifa (Chairman)
 Mr. Abdullateef A. Al-Asfour
 Mr. Rana Ahmed Humayun
 Mr. Mohammed Azzaroog Rajab
 Mr. Ahmed Abdul Rahim Mohamed
 Mr. Alaa A. Al-Sarawi
 Mr. Mian Muhammad Younis
 Mr. Mohammad Abdul Aleem
 Mr. Irfan Siddiqui (President & CEO)
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19.  Mr. Ariful Islam (Chief Operating Officer)
MEEZAN BANK SEGMENTS
Meezan Bank is managed by a team of professional bankers committed to the
cause of Islamic Banking. This single unifying factor unleashes the tremendous
power of a dedicated and motivated team committed to fulfilling the Vision and
Mission of this Bank.
The business segments of the Bank are:
• Consumer Banking
• Corporate Banking
• Investment Banking
• Commercial Banking (including Small and Medium Enterprises)
• Treasury & Financial Institutions
• Asset Management (managed through a subsidiary Al Meezan Investment
Management Ltd.)
Comment on organizational structure
The organizational structure of the Bank consists of top level management,
middle level management and lower level management. The top level
management comprises of president, executive vice president, and divisional
heads. The middle level management comprises of departmental heads, SVPs and
VPs. The lower level management comprises of AVPs, Managers, and Operation
Managers. The reporting system at horizontal level is much effective and
successful. The reporting system at vertical level i.e. from lower level
management to middle level management is also accurate, timely and complete.
The middle level management gives information to high level management at
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20. which decision are made, rules and regulations are amended keeping in view the
present scenario.
Products, Services and Competitors
Deposit products
Meezan Bank offer the largest range of Riba-free Deposit Accounts for Personal
Banking
⋅ Kafala Account
• 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
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21. • Certificate of Islamic Investment (CII)
• Meezan Amdan Certificate (MAC)
• Monthly Mudarabah Certificate (MMC)
• Dollar Mudarabah Certificate (DMC)
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.
• Visa Debit Card
• Internet Banking
• ATM Network
• Meezan Quick pay
• SMS Alerts
• 24/7 Call Center
Services
Meezan Bank is dedicate in its efforts to provide a quality banking experience to
our customer via a range of unique Banking Services
• Labbaik Travel Aasaan
• Online Banking
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22. • 8 to 8 Banking
• Ladies Banking
• Home Remittance
• Western union Money Transfer
Competitors
The major direct competitors of Meezan Bank Limited are Bank Islami, Dubai
Islamic Bank Pakistan Ltd, Al-Barka Islamic Bank. The other indirect competitors
are Bank Al-Falah Limited, Bank Al Habib Limited, Askari Bank Limited, United
Bank Limited, Allied Bank Limited, Soneri Bank Limited, Faisal Bank Limited.
Training program
With the name of Almighty Allah, I started my internship with Meezan Bank
Limited on 16 June, 2014 which continued till 11 August, 2014. On first day, the
Branch Manager called me in his office and asked some questions about my
studies and Banking. He told me some basic rules and regulations about banking
operation, Islamic Shariah Polices and introduced me with other staff members of
the Bank and I worked on Customer Service –FTM, SQC, Clearing & Remittance
and Account Opening departments
Service Quality Department
In this department, I learnt a lot about floor time management and quality
assurance affairs in branch.
Floor Time Management
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23. While standing near the main gate we ensure that customers coming into MBL are
properly looked after. We 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 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.
Responsibilities of Floor Time Management
We maintain and file daily working sheet of Floor Time Management and record
customer’s complaints in the CRM. We monitor daily log of TAT sheet and put
up it to Branch Manager. Complaint handling and its follow up is made on daily
basis. Modifications and improvements are suggested in the system and process.
Try to make coordination between branch and Head Office regarding service
quality. Lead Floor Manager is assigned duty first of all.
Responsibilities of Lead Floor Manager/ Floor Manager
Lead Floor Manager welcomes all the customers and introduces himself with a
smiling face and checks branch cleanliness and pleasant atmosphere in the branch.
He also checks availability customers stationary at proper places as well as
maintain the notice and assist 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.
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24. Clearing and Remittance Department
Clearing:
After learning in Service Quality Department, I worked in Clearing Department. I
learnt their about Clearing of different cheques and remittance handling. I was
told there the main objects of clearing.
I received all the clearing cheques and made a schedule of these cheques after
making entries in outward and inward clearing registers and sent the same to main
branch where at all the cheques were sent to NIFT (National Institutional
Facilitation Technology)
NIFT:
NIFT stand for National Institutional Facilitation Technologies. Clearing House
of SBP has shifted a part of its work to private institution named NIFT. NIFT
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25. collets Cheques, Demand Draft, Pay Order, Travelers Cheques, etc. from all
branches of different Banks within city through its carriers and send them to the
branches on which these are drawn for clearing. NIFT prepares a sheet for each
branch and send it to each branch as well as to State Bank of Pakistan where
accounts of Banks are settled.
Types of Clearing
Outward Clearing
When cheques of other Banks are deposited in our bank, after clearing these
cheques through NIFT by the other Banks on which these are drawn. Accounts of
the customers are credited.
Inward Clearing
When cheques of our bank are deposited in other Banks and these cheques are
sent to us for verification, we debit the of our client after verification their account
Remittance
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26. 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, outward collection.
Account Opening Department
Account Opening Procedure
Account Opening Form
This department relates to open new accounts Customers approach to Bank and an
Account Opening is given to him for completing and signing the same. After
completed account opening form in all respect and checked by the bank officer
and properly signed by the customer which is also verified by the Operation
Manager. Specimen Signature Card are gotten signed form the customer and after
verifying the information written they’re in, Customers are given account number
and all these information’s are saved in the system.
Completion of the Form
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27. After completed account opening form in all respect and checked by the bank
officer and properly signed by the customer which is also verified by the
Operation Manager
Specimen Signature Card (SSC)
Specimen Signature Card are gotten signed form the customer and after verifying
the information written they’re in, Customers are given account number and all
these information’s are saved in the system.
Signature Difference Form
The signature of the client is taken on a signature difference form if his signature
differs from the CNIC.
Address Change Form
If the address is differed from CNIC then client will fill this form.
Computerized Inputting
There are three things under the computerized inputting.
Customer Information (CIF)
Here we will generate a customer’s Id
Account Number
After completion of all 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’s are recorded in the computer. Account
number is written on the cheque book requisition. After completion of all
procedures, the bank prepares a letter and sends it to the client at his postal
address to pay gratitude to the customer.
Customer Due diligence (CDD)
Here we observe the customer’s strength to do daily transaction in a
bank
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28. Cheque Book Issuance
Cheque Book requisition for first cheque book is send to Head Office, Karachi for
issuance the same. The cheque consists of 25 leaves and no charges are deducted
from the account the account of client.
Procedure for ATM/PIN Issuance
Meezan Bank limited provides the ATM facility to its Customers and they can
withdraw their amount at any time through ATM. For issuance of ATM, customer
has to sign an ATM form and Bank office make an entry in the system and within
15 days bank receives ATM card from Head Office which is given to the
customer.
For issuance of PIN and activation of ATM customer has to call the help line
(111-331-331). After verification of customer, a PIN number is issue to him and
his card is activated
Procedure of Stop Payment
For stopping the payment, we take sign of the customer on stop payment form
where in account number with date and amount of cheque is written. Customers
also mention the reason of stop payment then we mark that cheque as stop
payment.
Procedure for Closing of an account
Whenever a customer wants to close the account, he fills up an account closing
form and signs they’re in, account balance should be zero, approval is taken from
the Branch Manager Specimen card is taken back and is attached with the form
and account is closed.
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29. Cash Department
The cash department is the most important department of the
bank. It receives cash from customers and then deposits it into the
accounts of the customers and maintained their balances. In cash
departments following books are maintained.
o Scroll book
o Paying book
o Cash balance book
SCROLL BOOK
When cash is received at the customer it is recorded in the scroll book.
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30. PAYING CASH BOOK
The cashier makes entry in the paying cashbook when cash is paid.
CASH BALANCE BOOK
The consolidated figure of receipt and payment of cash is
entered in cash balance book.
SWOT Analysis
Strengths:
 Effective HR Policies
 ATM Machine in Branches.
 One Counter Operation.
 Islamic Banking.
 Loyalty of Employees.
 24/7 Online Banking.
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31.  Internet banking facility.
 Excellent Environment.
 Efficient and Qualified Management.
 Fewer Competitors as Islamic Banking.
 A large range of Islamic Investment Schemes.
 Islamic Leasing System.
 No hidden charges.
 Rates are remarkably low as compared to other banks
Weakness:
 Lack of awareness of the people.
 Only two Branches in Sukkur
 Less Advertisement
Opportunities:
 Big market to be captured
 Introduction of innovational products
 Open new branches in Sukkur and other small areas
 Opportunities for provision of Islamic finance facilities such as Musharka,
Estasnaa, Ijara for commercial customers
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32. Threats:
 Islamic banks are increasing.
 Traditional commercial banks are also introducing the Islamic Banking
Facility.
SUGGESTION & RECOMMENDATIONS
 Expanding their business by establishing new branches in those
areas which are near to the business area.
 MBL has option to increase its customer ratio through efficient marketing
system
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33.  The bank must hire the efficient specialized marketing personnel
 MBL must take a part in heavy advertisement as the people become aware
of Islamic banking system
 Bank should provide on the job Training (OJT) to their employees
 Bank should develop healthy relation with customer
 MBL should give more compensation, incentives, benefits to their
employees for their hardworking and performance to improve more and
more in future because it leads to improvement of overall bank’s
performance
Meezan Bank Limited Branch Network
Southern Region Central Region Northern Region
Hub ( Lasbela)
Arifwala Abbottabad
Hyderbabad
Bhawalpur Attock
Karachi Burewala Dara Ismail Khan
Mirpurkhas Chiniot Dina
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34. NawabShah
Daska Gujar khan
Queeta
Dara Ghazi Khan Islamabad
Sakrand
Faislabad Jehlum
Sukkur Gojra Kohat
Tando Adam
Gujrawala Manserah
Tando Allah Yar
Gujraat Mardaan
Hafizabad, Mian Chnnu Muzaffrabaad
Jhang, Mandi
Bhahudden
Nowshera
Kasur, LalaMusa Peshawar
Khanpur, Multan Rawalpindi
Khushab, RahimYar
khan
Sawat
Lahore, Sadikabbad,
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