MCB Internship Report

INTERNSHIP REPORT
ON
MCB BANK LIMITED

THOKAR BRANCH (1302)

LAHORE

Submitted By
HAFSA TARIQ
Submitted To
BM

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DEDICATION

I would like to dedicate this accomplishment to my beloved and caring parents, my teachers and
friends with the support of whom I am standing at this step of my life stairs.

May! Allah Give them Long Life (AMEEN)

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ACKNOWLEDGEMENT
All praise to Allah, the Beneficent, the merciful, and respect for His Prophet “Peace Be upon
Him” who made us recognize our creator.

First of all I’m grateful to ALLAH ALMIGHTY, who bestowed me with health, abilities and
guidance to complete the project in a successful manner, and without HIS help I was unable to
perform this task.

Besides, I am also thankful to Employees of MCB who provided me a friendly and

knowledgeable environment through which I learned a lot.

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INTERNSHIP:
Prerequisite of Bs. Hon is to undergo internship in any organization to get practical exposure and
to get familiarized with the ways to live in the organizational environment which is dramatically
different from the educational environment. I got the opportunity to join the MCB Iqbal town
Moon Market Branch for the said purpose for a period of 6 weeks. Practical involvement was a
great experience as interactions both with the experienced executives and clients cemented the
base of knowledge I have been acquiring in the classroom. This internship report includes the
material about MCB and different departments along with their working procedure. As far as my
knowledge and hard work is concerned this report will provide a good insight of MCB.

In preparing this report, I have put all of my best efforts and tried my level best to give maximum
knowledge. Despite of my all the coherent efforts, I do believe that there will always be a room
for improvement in the efforts of learner like me.

Methodology
There are mainly two methods that are used for the collection of data.
Primary data
 Observation of functions of branch operations on the spot
 Observation of different processes of branch on the spot
Secondary Data
 Internet is very helpful for me to study more about this bank and overall banking sector in
Pakistan.
 Different types of bottlenecks of the bank.
 Annual reports
 Journals
 Newspapers

Importance of Internship:
Internship is known for giving students the opportunity to apply their knowledge in real world
environment. At the same time, they will also develop skills which will help them perform better
at their jobs.
An internship is known as a training program in your related field through which you can get
practical knowledge of the subject. It is to determine that how your next step in life will work out
because the professional life can be very different from University life. This is a short period
program that may be paid or unpaid, depends on the company policy.
It is also a good time to know your weak points so that they can also get stronger. By taking
internship we don’t only get a chance to utilize our theoretical knowledge in our specific subject
but we can also know the scope of it and the fresh graduates who have taken internships are
strongly preferred in the companies because of their practical and theoretical knowledge.
BANK VIS-À-VIS BANKING COMPANIES ORDINANCE 1962:

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In the light of Banking Companies Ordinance 1962 “Banker means person transacting the
business of accepting for the purpose of lending or investment, of deposits of money from the
public, repayable on demand or otherwise and withdraw able by cheque, draft, order or otherwise
and includes any Post Office Savings Bank."

COMMERCIAL BANKING, A FOCUS ON PAKISTAN:

The interesting point which I observed during the span of mine internship was the historical
background of Banking & Financial sector which is the one in which great improvement and
growth is observed since the formation of Pakistan. For studying the growth of this sector we can
divide it into three stages, which are as follows:
a) Pre-Nationalization Era
b) Nationalization Era
c) Post Nationalization Era

A) PRE-NATIONALIZATION ERA:
There were only two Muslim banks in Indo Pak before partition, they were; Habib Bank Ltd.
(established in 1941 at Bombay) & Australia Bank Ltd. (established in 1944 at Lahore). All other
banks, at that time, were either owned by Hindus or Foreigners.
At the time of partition there were 631 bank branches in area which came under Pakistani
control. But due to bloodshed and violence at large scale, mostly branches were closed and the
disparity can be accessed from the fact that on July 1948 there were 195 branches with deposits
of Rs.88 crore (880 million) only. Also a factor lagging in Pakistani industry was a central bank
of its own, by that time Reserve Bank of India was acting as central bank for both countries and
same currency notes were used in both territories. But Reserve Bank of India was biased and Set
down Pakistan on many occasions such as the issue of funds transfer etc.
In this period drastic steps were taken in government sector for the improvement of overall
position. The private sector also responded to these changes and some very positive changes
were observed. Some of the steps taken by the government in this regard were as under:
1) Inauguration of State Bank of Pakistan (SBP) on 1st July, 1948.
2) Setting up of National Bank of Pakistan in November, 1949 to control the 'jute' export in East
Pakistan and to act as agent of SBP.
3) Larger powers were given to SBP through SBP Act (1956) for controlling purposes.
4) Banking Companies Ordinance 1962 for protection and guidance to banks.
5) Establishment of specialized banks, such as ADBP (1952); HBFC (Nov, 1952); P1CIC (Oct,
1957), IDBP (Aug. 1961); NDFC (Jan, 1973)

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B) NATIONALIZATION ERA:
On January 01, 1974 all Pakistani banks were nationalized through Nationalization Act 1974.
Under this law all Pakistani banks became a public property. All small banks were merged in
bigger banks to create 5 major Pakistani banks Pakistani banks. These banks were to control by
Pakistan Banking Council. There are still controversies about this act of government as whether
it contributed in success of failure of banks. However the major changes after nationalization
were as follows:
 Working of banks was extended to under developed areas.
 Market expansion for credit and deposits.
 Decrease in service level of bank officers.
 Decrease in profitability as well.
However the effect of expansion was enormous and it can also be depicted with the help
of table 2 which shows the deposit & branch positions of different nationalized banks.

C) POST NATIONALIZED ERA:

In 1990 the government decided to denationalize all the nationalized institutes. Some was also
suggested in banking sector. For this purpose, amendments were made to Nationalization Act
1974 and two nationalized banks were privatized. Along with this a permission to open banks in
private sector was also granted. The rules regarding establishment of new banks and for
incoming foreign banks were also relaxed.
The-three privatized banks are;
a) MCB taken up by a private group in April, 1991
b) ABL taken up by its own employees in September, 1991.1
c) UBL taken up by UAE party in 2002.

HISTORY AND BACKGROUND OF MCB BANK LTD:

MCB bank was incorporated under company’s act 1913 on 9th July, 1947 (just before partition)
at Calcutta. But due to changing scenario of the region, the certificate of incorporation was
issued on 17th August, 1948 with a delay of almost 1 year; the certificate was issued at
Chitakong. The first Head office of the company was established at Dhakka and Mr.G.M.
Adamjee was appointed its first chairman. It was incorporated with an authorized capital of Rs.
15 million.
This institute was nationalized with other on January 1st, 1974. At that time it had 506 branches
and deposits amounting to Rs. 1,640 million. Although. MCB has a reputation of a conservative

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bank but nationalization also left its effects on this institute as well and by end of year 1991 in
which it was privatized the total number of branches were 1.287 and deposits amounting to as
high as Rs. 35,029 million.
When privatization policy was announced in 1990, MCB was the first to be privatized upon
recommendations of World Bank and IMF. The reason for this choice was the better profitability
condition of the organization and less risky credit portfolio which made'' it a good choice for
investors. On April 8th, 1991, the management control was handed over to National Group (the
highest bidders). Initially only 26% of shares were sold to private sector at Rs. 56 per share.
After privatization, the growth in every department of the bank has been observed.

FOLLOWING ARE SOME KEY DEVELOPMENTS

1) Launching of different deposit schemes to increase saving level.
2) Increased participation on foreign trade.
3) Betterment of branches and staff service level.
4) Introduction of Rupee Traveler Cheques & Credit Card for the first time in Pakistan.
5) Extended use of information technology which is evident from the fact that there are 994
branches, 319 online branches (integrated networking), 217 ATMs in 30 cities nationwide and
continuous innovation in products.

Now MCB has covered 60 years of banking excellence. MCB has an edge over other local
banks, as it was the first privatized bank. The State Bank of Pakistan has restricted the number of
branches that can be opened by foreign banks, an advantage that MCB capitalizes because of its
extensive branch network.
Fifteen years after privatization, MCB is now in a consolidation stage designed to lock in the
gains made in recent years and prepare the groundwork for future growth. The bank has
restructured its asset portfolio and rationalized the cost structure in order to remain a low cost
producer.
MCB now focuses on three core businesses namely Corporate, Commercial and Consumer
Banking. Corporate clientele includes public sector companies as well as large local and
multinational concerns. MCB is also catering to the growing middle class by providing new asset
and liability products. The Bank provides 24 hour banking convenience with the largest ATM
network in Pakistan. The Bank’s Rupee Traveler Cheques have been market leaders for the past
six years and have recently launched their Gift Cheque Scheme.MCB looks with confidence at
year 2008 and beyond, making strides towards fulfillment of its mission.

MCB Bank Limited (Formerly Muslim Commercial Bank Limited) has a solid foundation of
over 50 years in Pakistan, with a network of over 900 branches, over 750 of which are
Automated Branches, over 222 MCB ATMs in 41 cities nationwide and a network of over 12
banks on the MNET ATM Switch, which as a combination is considered to be the core
competence of MCB.
MCB has become the only bank to receive the Euromoney award for the fourth time in the last
five years. MCB won the "Best Bank in Pakistan" in 2005, 2004, 2003, 2001, and in 2000 the
"Best Domestic Bank in Pakistan" awards. In addition, MCB also has the distinction of winning
the Asia Money 2005 & 2004 awards for being "The Best Domestic Commercial Bank in
Pakistan". Ten years after privatization, MCB is now in a consolidation stage designed to lock in
the gains made in recent years and prepare the groundwork for future growth. The bank has

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restructured its asset portfolio and rationalized the cost structure in order to remain a low cost
producer.
MCB now focuses on three core businesses namely Corporate, Commercial and Consumer
Banking. Corporate clientele includes public sector companies as well as large local and
multinational concerns. MCB is also catering to the growing middle class by providing new asset
and liability products. MCB looks with confidence at year 2005 and beyond, making strides
towards fulfillment of its mission, "to become the preferred provider of quality financial services
in the country with profitability and responsibility and to be the best place to work".

VISION OF MCB BANK LTD

“To be the leading financial Services provider, partnering with our customers for a more
prosperous and secure future.”

MISSION STATEMENT
“We are a team of committed professionals, providing innovative and efficient financial
solutions to create and nurture long-term relationships with our customers. In doing so, we
ensure that our shareholder can invest in us with confidence.”

MCB PHILOSOPHY
MCB Bank knows the best to deal with its customers and thus has a customer oriented
philosophy. The MCB philosophy in their words is described below-
“For us, you are not just a set of numbers; you are a valued customer whom we know by name.
This helps us serve you exactly the way you want us to –that’s the difference! We offer effective
solution derived from our personal knowledge of all your banking requirements which are met
when we meet you…by name.”

Boards of Directors:
The board of directors has the authority in guiding Bank affairs and in making policies. Some
directors are the personnel of the MCB Bank and others are successful businessperson and
executives of other major organization.

Chairman: Mian Mohammad Mansha

Vice Chairman: S.M. Muneer

President/CEO: Mr. Atif Bajwa

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Members

 Tariq Rafi
 Sheikh Mukhtar Ahmed
 Mohammad Arshad
 Shazad Saleem
 Sarmad Amin
 Mian Umer Mansha
 Aftab Ahmed Khan
 Mohammad Aftab Manzoor
President and Chief Executive Advisors
 Raza Mansha

Registered Office
 MCB building, F-6/G-6
 Jinnah avenue, Islamabad

Principal Office
 Adamjee house, 2nd floor
 Chundrigar road, Karachi

BUSINESS AREAS
For effective handling of branches it has been categorized into three segments with different
people handling each category. These categories are:
 corporate banking
 commercial banking
 consumer banking

CORPORATE BANKING:
These are the branches, which have an exposure of over Rs. 100 million. Corporate clientele
includes public sector companies as well as large local and multi national concerns. MCB is also
catering to the growing middle class by providing new asset and liability products. Main
products of MCB regarding Corporate Banking are:
 Cash Management
 Working Capital Loans

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 Term Loans
 Trade Finance Services
 Investment Banking
COMMERCIAL BANKING:
These are the branches, which have a credit exposure of 20 million to Rs 100 million excluding
staff loans. Usually branches in large markets and commercial areas come under this category.
Products offered under commercial banking are:
 Deposit Accounts
 Loan Products
 Master Card
 Rupee Traveler’s Cheque (RTC)
 Remit Express
CONSUMER BANKING:
These are the branches, which have an exposure up to Rs. 20 million and these include all the
branches, which are neither corporate nor commercial.

ORGANIZATIONAL STRUCTURE
 President
 Group heads
 Divisions and fields
 Circle offices
 Regional offices
 Branch offices

Present Status:
During the last 15 years, the bank has concentrated on growth through improving service quality,
investment in technology and people, utilizing its extensive branch network, developing a large
and stable deposit base and managing its non-performing loans via improved risk management
processes.
In 2005, the management of the bank abbreviated its name from Muslim Commercial Bank to
MCB Bank Limited to explore international markets; they were facing resistance due to the word
Muslim especially from western countries to avail license. In 2008 the head office of MCB was
shifted from Karachi to Lahore in a newly constructed building namely MCB house located at
Sharea Ghous-ul-Azam, commonly known as Jail Road.

Relationship of head office to the branch offices:

In MCB decision, strategies, policies are made by the top level management and these are
implemented in each branch. Top level management doesn’t involve the lower management in
decision making process. MCB is the pioneer of the computerization, as far as it has a very
developed and fastest network. So the head office and all of its branches are linked through a

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electronic network, that make possible easy and in time transformation of the important
information.
PRODUCTS:
MCB offers a wide range of financial products and advice for Personal and Corporate
Customers. One can also apply on-line for many of MCB’s Online Services. Customers can
access their accounts using simple and convenient MCB Virtual Internet Banking services.
Below is the catalogue of Products and Services offered by MCB?

 MCB ONLINE SERVICE

The Largest network of over 269 on-line branches in the country is providing customers with
24x7 real time on-line transaction facilities. This success has been possible because of a never
ending drive to achieve levels of excellence, constantly striving to raise the level of performance.
 MCB ATM SERVICES
Get 24 hour convenience of cash withdrawal, mini statement, and bill payment and funds transfer
services with an ever growing number of ATMs operating across the nation. The MCB ATM
network is the largest and most advanced of its kind in the country and is part of MCB’s
continuing efforts to provide you with convenience that suits your requirements most. And now
the MCB ATM has gone global. MCB’s affiliation with master card international brings about
added facilities for the MCB Traveler abroad with the cirrus and maestro networks.

 MCB MOBILE BANKING

Banking at your fingertips Dial in anytime to get information regarding balance and mini
statements.MCB mobile banking service is available to all MCB ATM cardholders , 24 hours -
365 days. They have just to call MCB help line (021) 111-000-622 or any MCB online branch
for assistance. MCB mobile banking gives the customer easy and quick access to their accounts
at any time including holidays. With MCB mobile banking customer can
 Check their balance
 View the last 4 transactions of their MCB account

 MCB CALL CENTER

Call now for answer to your queries, banking services, ATM services, mobile banking services,
RTC services, Tele banking services and MCB product information. It offers basic banking
services for their convenience eliminating the need for them to make unwanted trips to branch.

 MCB ATM INTERNATIONALLY

Cash withdrawal facility at over 630,000 ATMs worldwide, Convenience of shopping at over 5
million POS locations globally.MCB ATM is accepted at 634700 locations where there is master
card or cirrus ATMs allowing a daily withdrawal limit of US$ 200 (or equivalent of other
currencies) on availability of funds in accounts. Plus, convenience of shopping through over 5
million maestro POS (point of sale) terminals globally.
 RUPEE TRAVELER CHEQUES (RTC) SERVICES

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MCB Bank has been at the forefront of providing its customers with new and innovative
products and financial instruments that are safe, secure and profitable. MCB Rupee Traveler's
Cheques were first introduced in 1993 as safe cash for traveling and travel related purposes. The
product has been extremely popular and is preferred over cash by customers while travelling and
in all walks of life

 MCB LOCKERS
They provide the best protection for valuables. Lockers of different capacities are available
nationwide. The MCB Smart Account holders will receive a preference over anyone else to use
the facility of our Lockers.
 MCB VIRTUAL
MCB, the leader in banking technology, now provides the convenience of banking on the
internet. You can now access your account anytime and anywhere. MCB Virtual Internet
Banking offers you the convenience to manage and control your banking and finances; when you
want and where you want. MCB Virtual Internet Banking allows you to access banking services,
24 hours a day, 7 days a week and throughout the year.

 MCB CAR FINANCING

Car financing and leasing at competitive rates with flexible options are available. Car4u finances
both semi-commercial and non-commercial vehicles for personal and business use.
Flexible
 Option for financing or leasing.
 Financing tenures from 1 to 7 years.
 Options for new as well as used cars.
 Options for local as well as imported cars.
 Financing up to 20 lacs.
 Option for early payment.

 PYARA GHAR
Flexible and competitive home financing facility with options of home purchase, construction
and renovation. Five segments of housing finance product are mentioned as under:
 HP: Purchase of Ready property.
 HC: Construction of house on land owned by borrower/s and should be disbursed in
tranches.
 HR: Renovation of existing home with documented end usage and should be disbursed in
tranches.
 BTF: Payment to the relevant bank plus a portion paid to the customer for documented end
use other than investments in real estate and capital market.
 PC: Purchase of land / plot and construction on it which should be disbursed in tranches.
REMIT EXPRESS
Fastest to Pakistan, anywhere in Pakistan --- International remittances with a two-way messaging
facility delivered at your doorstep within 24 to 72 hours.
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 EASY BILL PAY

MCB is the only bank that offers you convenient options of making bill payments to PTCL,
KESC, Mobilink, Supernet, IESCO, HESCO, Ufone. MCB easy bill pay is easy solution to pay
utility and mobile phone bills. MCB ATM card and MCB smart card holders can easily pay their
bills through MCB ATMs, MCB virtual banking, and MCB call center with security and peace
of mind.

 MCB VISA PLATINUM

MCB Visa Platinum Credit Card is the most reliable, competitive and gratifying Credit Card
offering a tantalizing mix of luxurious shopping, dining and traveling opportunities which will
undoubtedly be a treat for you and your family. It is accepted at nearly 29 million locations in
more than 150 countries around the globe and over 30,000 establishments in Pakistan.

 BUSINESS SARMAYA
Good cash flow is the key to any successful business.MCB Business Sarmaya offers running
finance facility against your house/flat, insuring a steady cash flow for your business.

 ISLAMIC BANKING
It services through exclusive branches offering a range of liability and asset based Shari
compliant products like Musharaka, Murabahah, Ijarah and Istisna. An Islamic banking service
provides riba free and shariah complaints solution to various customer segments in growing
number of cities. With the help of shariah specialties, lawyers and professionals commercial
bankers ,mcb offers the best solution to cater their customer’s needs the Islamic way.

 DEPOSITE ACCOUNT_365
The higher you save, the higher you go. It offers you a wide range of attractive profit rates.
 The higher your balance, the higher your rate.
 Profit calculated on daily basis.
 Profit paid into your account every month.
 Open your account with Rs. 500,000/- only.
 Cash deposit and withdrawal facility at hundreds of branches nationwide.

 INSTANT FINANCING
Get a loan in an instant at any MCB branch. Offering same day financing facility against liquid
collateral at competitive pricing.
 CORPORATE FINANCING
Providing access to diversified financing options including working capital loans, term loans,
trade finance services and investment banking.

 EASY PERSONAL LOAN

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Personal loans for salaried individuals of reputed local and foreign companies at rates tailored to
customer's repayment capacity.
 M -NET
MCB Network for Electronic Transactions is an electronic hub for ATM sharing plus other touch
points. The nation's largest operating switch with the highest transaction volume.

 KHUSHALI BACHAT ACCOUNT

It’s one of the most popular deposit accounts offered by MCB which provides the account holder
additional facilities for payment of utility and HBFC.
 Low average balance requirements
 Profit is based on your account on a half yearly basis.
 Cash deposit and withdrawal facility at hundreds of MCB branches across
Pakistan(condition apply) etc

 MCB BANCASSURANCE
MCB Bancassurance has a financial plan that fits all your needs by fulfilling you and your loved
ones dreams and keeping your ‘Har Pal Mehfooz.’ Combining the best of banking and financial
solutions, MCB Bancassurance provides a one-stop shop solution for you by guaranteeing
convenience and security with a wide range of products available for all your financial needs. All
our plans are specially designed by reputable insurance providers. These companies have
excellent experience with insurance products and guarantee that your funds would be in good
hands as there is a team of professional investment experts in each company working on making
the funds grow higher in a secure manner. Each plan is designed to give you a peace of mind
because we know that in the end, it’s not the years in your life that counts. It’s the life in your
years.
Products
 Flexi life.
 Life Partner.
 EDU care.
 Dream Weeding.
 Capital sure.
 Retire easy.
 Income max.
 Set up.

MCB IQBAL TOWN MOON MARKET BRANCH

BRANCH TRADE AREAS
Branch is located at one of the residential area of Lahore. Most of the clientage consists of
Private services, Retired individuals and housewives, Small and medium enterprises and salaried
individuals. Branch deal with only basic functions of the bank which are as follow:

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 Receive deposit
 Make payment
Special clients are not charge with any of the service charges and they get all services in branch
like even they can get their cheque book made in 15 minutes from the respective branch whereas
all other do get charged as per schedule of charges and their cheque books are made from MCB
house and then posted to the respected branch.

BRANCH MANAGEMENT HIERARCHY:

BRANCH MANAGER
Kashif arif

OPERATION MANAGER
Khawar Ali

SUPERVISOR
Mr. Zubair

FOREIGN REMITTANCE
Hussnain shah sb

REMITTANCE
Hussain imran

CREDIT OFFICER
Salman sheikh

Cashier
Aziz sb
Azhar sb
Saeed sb

CSO
Miss Kashifa

PBA
Mr. zeeshan

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BRANCH MANAGEMENT JOB DESCRIPTION

BRANCH MANAGER
 He handles his staff at branch level.
 Duties assigned to him includes keeping the monthly deposit up to the mark, opening of new
accounts has to be either stable or increasing etc.
 He is responsible for assigning leaves to his staff on yearly basis and even handles emergency
absence. He has to develop a leave program so as this routine does not disturbs any customer.
 He also have to handle the problems of disappointed or angry customers and convince them
about the best service of MCB provides.
 They receive specific targets which they have to achieve within the given time period which
results in bonuses distributed among the staff and manager released by HO.
 Business promotion, through typical activities like formulating, implementing/monitoring of
strategic and sale plans as well as deepen existing relationship.
 Spread head efforts for marketing new relationship.
 Pro-actively gear up sales efforts, in line with change in business strategy
 Achieve plan growth and cater to the branches expansion possibilities by pro-actively analyzing
and proposing resources enhancements.
 Ensure that branch achieves stable growth in revenues.
 Foster a culture of teamwork by encouraging cross selling efforts in the branch
 Visit customer regularly to retain the relationships.
 Complete adherence to service management program.
 Continue review of processes, practice and resources to ensure that services standards are met
through proper planning and removal of various bottlenecks.

 Being the BM, he has to be the role model in terms of punctuality, morality n various other
aspects.

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OPERATION MANAGER

KHAWAR ALI
 Responsible for counter services/ operations with a view to achieve timely and accurate
processing of deliverables in a professional environment.
 Approval and supervision of daily transactions as per their approval DOA limit.
 Authorization of utility bills collection and review of the scroll and ensure total amount collected
is transferred to the main collection account.
 Ensure surrendering of excess cash and soiled/out notes with cash house on daily, weekly or
need basis.
 Responsibilities for reconciliation of all cash suspense on a daily basis.
 Authorized and sign off all the PO/DD/FED/FTT jointly with 2nd signatory in the branch.
 Act as the custodian of strong room keys.
 Act as a custodian of test key.
 Responsibilities for the verification and balancing of cash/ prize bonds and stationary.
 Supervising overall function of RTC’s and all deposit receipts.
 To supervise all formalities regarding account opening and closing, amendments in accounts and
handling of deceased and unclaimed account.
 Checking of account opening forms.
 Supervising and making stop payment of cheque and maintaining its proper record
 Ensure the scanning of customer signature on the system and also authorized the ATM and check
book request.
 Act as a custodian of ATM card and deliver the same to CSO at the start of the day for onward
delivery to the customers.
 Act as the joint custodian/receiver of the check books from NIFT rider. Ensure verification of the
check books and noting of their serial numbers on the requisition slips.
 Managing service delivery - observation of queue time and length and taking action as needed
and managing customer traffic in the branch.
 Provide guidance and help in resolution of queries/issues pertaining to different areas of branch
and update branch manager on a regular basis on the entire branch matters.
 Ensure clean, hygienic and standardized branch outlook is maintaining by making sure HOD,
housekeeping checklist are religiously practiced and followed.
 Ensure the panic alarm, CCTV cameras, fire extinguishers and other systems are in working

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GENERAL BANKING OFFICER

 Accept outward clearing cheques from customer for collection of fund.
 Perform scrutiny of cheques.
 Affix clearing/crossing and other relevant stamps on the instruments.
 Enter the details of the cheques in the branch clearing register and NIFT summary sheet.
 Prepare summary of all clearing cheques along with a bundle cover and place the instrument in
NIFT provided bag for onward delivery to NIFT rider.
 Post temporary credit in the customer accounts by giving 3 days float in the system.
 Get authorization from the customer services manager / branch operation manager for all
transactions above the approved general banking officer limit.
 Receive scroll from the NIFT rider, check and tally the amount clearing delivered by you from
the previous day total sent to NIFT.
 Verify the IBS/AS and test number for DD payments.
 Post the debits in the customer accounts as per assign limit and obtain approvals from customer
service manager/branch operation manager for transaction above the limit.
 Return discrepant cheques and prepare cheque return memos with the specific reason with the
sign off from the BOM.
 Note down the return cheques in the cheque return register.
 Make a list of aggregate amount of return cheques and enclose the same on NIFT bundle cover.
 Hand over the return cheques , cheque return memos and consolidate covering schedule to the
NIFT rider.
 Accept the outward collection cheque along with duly filled deposit slip from the customer.
 Perform the scrutiny of cheques.
 Affix relevant stamps.
 Arrange cheques and enter details in the cheque collection register.
 Bulk Salary Processing
 Signing/Passing vouchers as per schedule
 Keeping record of all return instruments

CUSTOMER SERVICES OFFICER

 Greeting customers in a professional manner

 Adherence to Service Protocols and Service Management Program
 Resolve complaints pertaining to the branch via close follow-up with the concerned unit.
 Floor management including Proper Queue Mgmt., Cleanliness & Outlook as per House Keeping
Guidelines.
 To provide highest level of service by being the first point of contact in the branch
 Customer complaints to be logged in the system or on “complaint forms”
 Handle customer’s correspondence and inquiries.
 Ensure Housekeeping Checklists are properly filled by the staff and counter checked everyday
 Ensure all the brochures, forms and stationery is available in the banking hall.
 Ensure notice board is maintained properly.
 Conduct Monthly Service Meeting of the branch
 Prepare Minutes of the Service Meeting with responsibilities and actions/target dates.

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 Take chequebook/Smart card requests from customers.

 Follow up on return items (ATM, PIN, Statements etc.) and call backs made to the customer
(where required)
 Issue balance statements and certificates to the customers after proper request/signature
verification
 Ensure that the request pertaining to other departments should be taken error-free
 Provide product knowledge to customers.
 Provide active feedback to line management for improvement in area of responsibility.
 To be aware of the KYC and should be fluent with the reporting procedures
 Provide relevant data to SQ as and when required
 Provide complete details about the products offered by the bank.
 Provide details about the upcoming products offered about bank.

TELLER SERVICE OFFICER

 Perform accurate and timely cash counter transaction at the branch.
 Accept cash deposit in the customer account and make payments against their checks. Perform
proper scrutiny and signature verification and post correct entries in the account as per the laid
down policies and procedures.
 Accept internal transfer request for the transaction between MCB customer accounts.
 Accept utility bills/sale and purchase of prize bonds and maintain relevant register as per
requirement of bank and SBP.
 Daily cash sorting and compliance of SBP circulars regarding cash management.
 Perform cash balancing of the cash box at day end.
 Perform checking/sign off of day end proofing sheet against the check/deposit slips.
 Ensure that departmental activities are carried out strictly in accordance with laid down
procedures and policies of the bank and regulatory bodies.
 Ensure that the cash counter area maintains highest standards of security.
 Ensure that the panic alarms, fire extinguisher and CCTV are in working condition in cash area.
 Ensure that highest standard of services is provided to the customers and customer’s traffic is
managed smoothly.
 Help supervisor in internal and external audit on need basis.
 Help supervisor in investigations and resolution of issues pertaining to cash counter area.
 Perform duties of ATM custodian according to delegation and laid down guidelines.
 Prepare shipment of cut/soiled notes for onwards submission with cash house on need basis.
 Prepare shipment of excess cash for onward submission with cash house o need basis.
 Any other assignment/responsibility given by the immediate supervisor.

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DEPARTMENTS OF MCB thokar BRANCH

The departments are as under:
 Accounts Department
 Deposit Department
 Clearing Department
 Remittance Department
 Credit Department
 Sales Department

ACCOUNTS DEPARTMENT
Sajid (PBO)
This department performs various functions among them the first and most important function is
A/C opening. The opening of a new account is the establishment of customer banker
relationship. By opening an account at a bank, a person becomes a customer of the bank. Of all
the functions being performed in a branch, the opening of account is highlighted as the most
important. Therefore, Branch/Operations Managers are required to involve themselves in
opening of new accounts and meet with the prospective customers in order to make reasonable
efforts to determine the true identity of the prospective customer. The bank reserves the right to
open any account, which in its opinion is suitable as a customer. The process of opening an
account is very simple and anybody that would like to open his account could do it easily
without any difficulty.
The customers can open following accounts:

 Current Account (CD A/C)

 Profit and loss sharing Account (PLS A/C)
 Basic Bank Account (BBA A/C)
 Fixed Deposit (FDR/TDR)

Account Opening
When a client comes to the bank, and makes a request for opening of an A/C. The officer asks
him to first fill up a prescribed application form. Besides, certain attachments are also required
which differ slightly for different accounts.

Individual A/c:
In this case, only one person can operate this A/c. An individual who can fulfill the requirements
of bank can open this A/c. We can call it a Personal or Individual A/c. documents required are as
under:
 Application for Opening Account (SF-1AA).
 Specimen Signature Card (SF-6).
 Attested photocopy of Computerized National Identity Card (CNIC) or Passport. It is a
mandatory requirement to verify the CNIC of the customer before opening the accounts, from
NADRA Online system- VERSYS

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 In case of a salaried person, attested copy of his/her service card or any other acceptable
evidence of service, including but not limited to a certificate from the employer.
 In case of illiterate person, a passport size photograph of the new account holder besides taking
left & right thumb impressions on the Account Opening Form & Specimen Signature Card
 In case CNIC does not contain a photograph, Banks may allow the said customer to open the
account, subject to provision of the following documents:
 A copy of the photograph duly attested by gazette officer/Nazim.
 A copy of CNIC without photograph duly attested by the same person who has attested the
photograph as per above.
 A confirmation in writing to the effect that they have no other document bearing their
photograph.
 Moreover, the particulars/CNIC of such persons must be confirmed from NADRA in writing
or through its “VeriSys” system.

Joint A/c:
In case of Joint A/c, applicant has to mention that who will operate the A/c. Instructions are
given for joint A/c such that the account shall be operated by:
 Either or survivor
 Any one Singly
 Any two/ all of us jointly.
In first case, if one of the account holders died then the other partner can’t operate this account
individually without the prior permission of court.

Partnership A/c:
For partnership A/c:
 Application for Opening Account (SF-1AA).
 Specimen Signature Card (SF-6).
 Attested photocopies of Computerized National Identity Card (CNIC) of all partners.
 Attested copy of “Partnership Deed” or “Letter of Partnership (CF-13), in lieu of the partnership
deed, if not available) duly signed by all partners of the firm.
 Attested copy of Registration Certificate with Registrar of Firms. In case the partnership is
unregistered, this fact should be clearly mentioned on the Account Opening Form.
 Authority letter in original, in favor of the person authorized to operate on the account of the
firm.
In case of addition or withdrawal of any partner, a new agreement will be required.

TRUST ACCOUNTS

 Attested copy of Certificate of Registration

 Resolution duly passed by the Trustees regarding opening and operation of Account in the Bank
in the name of said Trust Deed.
 Attested copies of CNIC of all the trustees.
 Certified copies of Letter of Administration/ Instrument of Trust.

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MINOR ACCOUNTS

 An account in the name of minor is allowed to open by his guardian, preferably jointly in the
name of guardian / Minor or Minors, payable to either or survivor opener of the Account.
 Title of Account is on the Minor’s Name (As per Form –B) &word “Minor” be added to the Title
of Account.
 In the Account Opening Application, the particulars of the Guardian will be filled out in the
column of “Personal Information”.
 Attested copy of Computerized National Identity Card (CNIC) of the Guardian.
 Attested photocopy of Form-B of Minor.

ILLITERATE /PHOTO/ DISABLE PERSONS ACCOUNTS

 Attested photocopy of Computerized National Identity Cards (CNIC).

 Two Attested Photographs. (One photograph shall be pasted on the Account Opening Form and
other will be pasted on Specimen Signature Card.
 Left thumb impression (Right thumb impression in case of female) on the account opening
application & Specimen Signature Card (SSC).

Issuance of Cheque Book

After opening an A/C with the bank, the A/C holder once again makes a request in the name of
bank for the issuance of a cheque book. The A/C holder mentions title of A/C, A/C number, sign
it properly and mentions the no of leaves he requires. Whenever a cheque book is issued to the
applicant, it is ensured that the series is put to the system immediately.

KNOW YOUR CUSTOMER POLICY

 Know Your Customer (KYC) is the vital tool used against Money Laundering. The Bank has a
statutory obligation to know its customers and to understand the nature of the business that is
being conducted with the Bank. Knowing your customer means:

 Evidence of identity and addresses, independently confirming the evidence at the start of a
business relationship with the Bank.
 Information regarding the nature of business that the customer expects to conduct with the
Bank, identify the source of income and expected pattern of transactions (Debit/Credit)
Branch Manager or Designated Authorized Officer is responsible for filling out the Client
Profile Form in order to gather maximum information about the prospective customer.
Before entering into the relationship, Client Profile Form is required to be filled-out along
with the Account Opening Application.
 Know Your Customer or Customer Due Diligence is an on-going process through which
Branch Manager or Designated Authorized Officer can ensure that only legitimate
transactions are routed through the customer’s account. It helps the branches to avoid
opening of fictitious accounts.
 Branch Operations Managers are required to retrieve following reports on daily basis and
review their debit or credit transactions or turnover:

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 High Value Transactions

 Over the Counter Transactions
 Income/ Salary / Turnover Exception
 Over the Counter Cash

Closing Of An Account:
There are number of reasons of closing an account. Some are listed below:
 If customer desires to close his account due to any reason
 In case of death of one account holder
 Bankruptcy of the account holder
 If an account contains nil balance or not up to the requirement of rules.
 Any other reason for which the banks thinks to terminate the relation ship

Bank adopts the practice while closing an account that the A/C Holder personally come to the
Bank premises or any official of the bank meets the account holder and satisfies himself that the
desire of the customer is genuine. Bank charges some amount for closing the A/C and hands over
the whole balance to the account holder through cash payment or by preparing Pay order.

Function Of Account Department:

Manual Functions Performed By A/c Department:
 To Prepare And Maintain The Vouchers
 Accountant prepares vouchers for all daily activities of different departments.
 Checking officer checks and tallies these vouchers with their daily transaction and posts
their entries under proper heads.

To Maintain And Update The Ledger For Term Deposit:

One of the functions of accounts department is to maintain and update the term deposit ledgers
and books manually. Term deposit receipt or TDR ledger is update after every month for
estimating profit on customer’s accounts. Accountant prepares different ledger all schemes of
term deposit. With the help of TDR ledger accountant prepare “PROVISIONAL LEDGER”.
From this ledger, accountant calculates the monthly product of each account and estimates the
profit for half-year. The semiannual profit on each account will be the expenses of branch.

Computerized Function Preformed By Account Department:

To updated the General Ledger:
Most of the daily working is done through ledgers. In MCB all the daily transaction is deposit,
cash, clearing, transfer, remittance and advances are performed these daily ledger. Account
Department receives the following Output of General Ledger
 Daily general ledger expense
 Daily general ledger income

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 Daily general ledger assets

 Daily general ledger liability
 Daily general circle expense
 Daily general ledger audit expense
The formats of all these ledgers are same. They contain the following heads A/C No.,
Description, Previous balance, amount credit, amount debit and current balance. Codes are
assigned to all these items. Income will be credited in the branch account and expenses will be
debited in the branch account at the month end.
All the expenses of circle, regional, audit: inspection office is debited in the head office account,
because it is the responsibility of the head office to bear the expenses of its office. For all the
heads of general ledger there is closing balance and opening balance. These ledgers there are
helpful in preparing the daily, monthly, semiannually and yearly statements.

DEPOSIT DEPARTMENT
The primary economic function of commercial bank is to receive surplus income of individuals,
firms, public houses, institutions, and companies and to honor cheque drawn upon it. Deposits
are as important for a bank as a backbone is, for human body. These are the lifeblood of a bank.
The deposit of a bank is useful in many ways.
The bank borrow money from the general public by accepting deposits by offering suitable
interest rates to them or simply by promise to repay on demand.
The fund deposited in the MCB bank can be classified under the following main heads:
 Current or Demand Deposits
 Saving Deposits
 Fixed or Term Deposits
 Call deposits
Current deposits are those which are payable by bank, whenever demanded by the customer.
Bank does not pay any profit on current deposits.
There are different schemes for saving deposits, which are classified under different duration
purposes and rate of interests.
Fixed deposits are those deposits, which are held by the bank under the conditions that they will
not be payable on demand but will be payable under fixed determinable future time date.

 Rules For Current Account:

Current A/c holder can get his account open on proper introduction only. However, introduction
of a PLS saving A/c holder may be accepted at the discretion of the manager.

Minimum Balance:
A sum not less than Rs 10000/- in cash as initial deposit is required for opening a current account
and the same may be maintained as minimum average running credit balance.

Minors:
The minors are not to be allowed to open any account directly.

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Profit:
No profit is paid on credit balance held in current accounts. The bank reserves the right to allow
opening of current A/c at its description. All deposits and withdrawals from an account will take
place only at the branch where the account is being maintained. A distinctive number will be
allotted to each current account and shall be quoted on all correspondence relating to the
respective account and at the time of making deposits and withdrawals

Pay –In Slip:

Pay – in slip (SF-11) is used for depositing the additional amount. The entries of cash receipt
will be verified under the signature of two authorized officials of the bank. The depositor should
collect the stamp and sign the counterfoil. The bank will accept the Pak rupees. All cheque and
other instruments should be crossed before they are deposited for credit into the account there
shall be no restriction on numbered of withdrawals in current account.
The current account is computerized, thus it generate the statement of account for all account
holders periodically. The account holder is expected to maintain a minimum running Credit
balance of Rs.10000/. If an account holder wishing to close his account he must surrender the
unused Cheques to the bank. He will bear the incidental charges. If credit balance is less than Rs.
10000/. Service charges will be deducted from Account.

 Saving Account:
Saving accounts are opened on proper introduction with sums of credit balance within certain
limit for individual (single, joint), institutions, companies, educational institutions etc.
MCB has introduced various schemes under Saving A/C.
 PLS Account
 Capital Growth Scheme
 Mahana Khushali Scheme
 Khushali Bachat Account
 Mala Maal Scheme
 Saving 365 Account
 Hajj Mubarik Scheme

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CLEARING DEPARTMENT
Clearing means collection of cheques receive from our customers but drawn on other banks.
Receiving the instruments deposited by customers posting the amount of instruments in credit of
customer’s account. If cheque returns from the concerned bank, the customer account is debited.
Crossing stamp is put on the instrument and slip given to customer on receipt of the instrument.
Clearing stamp and “payee account credited” are put on the instrument and the voucher. Clearing
House has provided this facility. Clearing house facilitates different banks, in one city, to get
their cheques drawn upon other banks to be cleared.
Cheques lodged in clearing constitute in clearing constitute two types of clearing:

 Outward Clearing
 Inward Clearing

Outward Clearing
When cheques, TC’s and other negotiable instruments drawn upon other banks like NBP, ABN
AMRO of the same city are presented in Muslim Commercial bank to deposit them in the
respective payee’s accounts, these instruments are lodged in outward clearing of MCB bank.

Procedure of Outward Clearing

• The name of the branch appears on its face where it is drawn
• It should not stale or post - dated or without date.
• Amount in words and figures does not differ.
• Signature of the drawer appears on the face of the instrument.
• Instrument is not mutilated.
• There should be no material alteration, if so, it should be properly authenticated.
• If order instrument suitably indorsed and the last endorsee’s account being credited.
• Endorsement is in accordance with the crossing if any.
 If an instrument received other than MCB of Pakistan then special crossing stamp is affixed
across the face of the instrument. Clearing stamp is affixed on the face of the instruments,
paying-in-slip and counterfoil (The stamp is affixed in such a manner that half appears on
counterfoil and paying-in-slip). The instrument is suitably discharged, where a bearer cheque
does not require any discharge and also an instrument in favor a bank not need be discharged.

Return Outward Clearing

• Over writing
• No stamp of clearing or if it is not clear
• No stamp of crossing or if it is not clear

Inward Clearing
Inward clearing means cheques drawn on us and presented by other banks. In inward clearing
Branch acts as paying banker. After realization of inward clearing, banks deposits are decreased

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as bank makes payment to other banks from the balances held by the branch. This realization of
inward clearing is also referred to as responding to the clearing. Cheques and other negotiable
instruments (PO, DD, PS, CDR etc.) drawn on Muslim bank, sent by other banks, constitute the
inward clearing of MCB.

Procedure of Inward Clearing

• Instruments with schedules are received from NIFT.
• Amount of each instrument entered is in inward clearing register.
• Instruments are detached and handed over to the deposits and other respective department for
checking and payment.
• In case of any instrument is returned, return memo is prepared stating the reason of the return.
• Entry is made in cheques Return register.
• Cheques return charges are recovered from the party as per charges schedule.

Return of Instruments
• Over writing
• No stamp of clearing or if it is not clear
• No stamp of crossing or if it is not clear

REMITTANCE DEPARTMENT
Transfer of money or equivalent to money from one branch to another branch of the same bank
is called remittance. Now it has become easier and safer method both for the client and banker to
transfer their money from one branch to another within the city and outside the city through the
instruments.
Originating Branch:
It is the branch, which issues advice of remittance to other branch.
Responding Branch:
It is the branch which receives instrument for remittance.

Types Of Remittance
 Inward Remittance
 Outward Remittance
 Inland Remittance
 Foreign Remittance

Inward Remittance:
The way a branch receives the instrument directly from the customer or from the originating
branch, and is responsible to pay the instrument is called inward remittance.
Outward Remittance:
The way in which a branch issues or sales the instrument to the responding branch is called
outward remittance.

Inland Remittance:

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Transfer of money from one branch to another branch of the same bank within the same country
is called inland remittance. In this case both originating branch and responding branch will be
situated in the same country.

Foreign Remittance:
Transfer of money from one country to another country is called foreign remittance. In such case
originating or responding branch will be out of the country, and mostly conversation of foreign
currency is involved.

Mode Of Payment:
MCB uses following ways to transfer money
 Demand Draft (DD)
 Pay order (PO)
 Mail Transfer (MT)
 Telegraphic Transfer (TT)
 Pay slip
 Call deposit slip
 Letter of credit
 Travelers cheque

When customer requires a facility of remittance, he should be asked to complete the prescribed
application form. Same prescribed application form is used for MT, TT, DD, and PO. This
application form states the amount of the remittance, the name and address of the payee, the
name of originating and responding branch. The applicant and the bank officer who have been
duly authorized to act on his behalf should sign this application form.
Head Office Account
All transaction relating to remittance will be routed through head office account. All the MCB
branches have an account on “Head Office”. Through this HO account it becomes uncomplicated
for branches to do transactions with other branches and to update their books.

Demand Draft (DD):

A draft is an instrument drawn by a bank in favor of any person on a branch of its own bank or
any other bank to pay a certain amount of money, which is demanded, to the person named on it.
It is not necessary for the demand draft that the applicant or recipient’s account should be open
in originating and responding branches. For demand draft, bank charges excise duty and
commission which is bank’s income. It is one of the cheapest methods to transfer money within
the country or outside the country.

Procedure For Demand Draft:

Applicant has to fill in the application form SF 100 (Revised) for availing the facility of DD.
After depositing the amount of draft, remittance officer prepares the leaf of demand draft. Contra
entry will be done on the two sides of cheque leaf; on the cheque there will be authorized
signature and posted stamp of the bank. One copy of confirmation advice will be dispatched with

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the cheque and the other copy will be sent to the responding branch by the originating branch for
the confirmation of draft.
When banker issues the draft to the customer, he also records customer particulars in a demand
draft register where record is maintain branch wise. Responding branch and originating branch
debit/credit the head office account and send the daily statement of transaction to head office.

Pay Order (PO):

Pay order is called “Banker’s Cheque”. Pay order is written order, which is issued and received
by the same bank or drawn and payable on same branch. In this case originating and responding
branches will be same. For PO it is not necessary that applicant should be account holder. It is
used for local transference of money from one person to another within the city.

Mail Transfer (MT):

The transfer of money from one branch to another branch of the same bank through mail or
courier service is called mail transfer. In mail transfer it is obligatory that the Beneficiary must
have the account in responding Branch. However, the applicant may or may not be the account
holder of the issuing branch. Remittances application form SF-100 (Revised) is used for MT.
After receiving the money to be remitted, Branch prepares MT advice in duplicate and sends one
copy to responding branch and other becomes voucher of the bank.

Telegraphic Transfer (TT):

Through telegram and fax originating branch sees funds to responding branch immediately. TT is
issued by one branch of the bank upon other branch of the same bank in different city. Procedure
for advising is same as MT with an addition of the Telephone/Fax message.

CREDIT DEPARTMENT

The bank is profit seeking institution. It attracts surplus balance from the customer at low rate of
interest and makes advances at a higher rate of interest to the individuals and business firms.
This is also a very important department in the bank that plays very vital role and it is the main
factor for running a banking business. Because banks give loans from the people’s savings to
other persons and they pay some interest on that loan amount that becomes bank’s income.
Simply when a local customer comes to the bank he has the direct dealings with the credit
manager. Bank offered different type of loans depending on the customer’s security. Customer
has to give some security to the bank for the sake of money. Then banks reserve the papers of
customer’s security and give him a loan for any specific period. Credit manager takes all
necessary information from the customer and give him loan on some simple terms and
conditions. Some loan approvals are made by the Manager of the branch within his powers as
prescribed by the bank’s higher authorities, while some loan applications are submit to higher
authorities for their approval. Some advances are of the following nature
• Loan against Gold
• Agriculture advance to farmers
• Medium term advance for working capital
• Long term advance for setting industry
• Short term advance to businessman

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In circle office there was also credit analyst who keeps the records and information of all the
customers who get loan from banks in files and update their profiles weekly or monthly. There
was also an officer who deals with the people who come from different branches with their
applications of loans and with those people who are not paying their installments on time and try
to convince them to follow the bank’s policy regarding loans.

OVERALL ACTIVITIES AS AN INTERN

 I have done the floor time on daily basis to resolve the customer queries by guiding them to
the right direction for their desired task.
 Filled the deposit slips for on-line cash, on-line transfer and clearing purpose.
 Arranged the signature cards in ascending order according to the nature of accounts.
 Assist the clearing officer in maintaining the local clearing register and intercity clearing
register.
 Learned bank charges for PO and DD.
 Learned how to made Inter-Branch Credit Advices against the checks received from outer
city branches
 Learned about the payment against PO and DD received from other branches
 Learned how to issue a PO
 Made Debit vouchers against the PO and DD charges
 Made Credit vouchers (contra) against the PO and DD charges
 Made various entries
 Learned basics of Remittance Software System
 Made DD and PO entries in the Daily Voucher Record Sheet
 Learned about different Stamps on the PO
 Issued Credit Advices against DD
 Learned PO and DD issuance in detail
 Made the entries against Intercity Received Checks
 Received ‘Check Book Issuance Requisition’

ACCOMPLISHMENTS
During my internship in MCB I worked in Clearing, Remittance, Account Opening and
Customer Service Office department and I successfully completed all the tasks and duties that
were assigned to me.

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RECOMMENDATIONS OR SUGGESTIONS:
The following suggestions can be recommended to overcome flaws in MCB and to improve the
efficiency for the development of the bank.
 Employees Training Programs must be introduced on continuous basis so that the employees
will have understanding with the latest developments especially with the customers.
 Bank should introduce incentive plans for employees on regular basis so that employees will
work whole-heartedly for the welfare of their organization.
 Incentives should be given on the basis of qualification, hard work, and experience etc.
 Mismanagement of resources must be avoided as much as possible as it decreases profit.
 MCB is going towards mobile banking but the problem is that a common client has no idea
of its usage due to lack of marketing. So, a proper marketing program must be launched for
client’s awareness.
 Bank should help the society by providing interest free loans to the Talented Students.

REFERENCES
 MCB Brochures Manuals
 www.google.com.pk
 Annual Reports of MCB Bank Limited of Pakistan.
 MCB Credit Policy
 http://www.mcb.com.pk.
 http://www.sbp.com.pk

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