Internship

MEEZAN BANK LIMITED

Civil lines branch Sargodha

0483 7 4 1 6 0 9 1 3 ROLL #
[Type the fax number] 10/11/2010

Report Ali Adnan

07151

Acknowledgement:
All praise and glory to the Allah Almighty who is omnipotent and omnipresent who guides us in darkness and shows us the right path and who is the master of the Day of Judgment, we seek his help in all the trails of life. All respect to the Holly messenger of Allah, Hazrat Muhammad Mustafa (SAW), who brought the light of knowledge and truth when the humanity was wandering in the desert of ignorance May Allah showers his blessing upon him (PBUH). We are obliged to express thanks to Dr, Maqbool sial (dean.of business adminisration, University of Sargodha) who facilitate us and provide us and opportunity to go through thesis work processed in the department. And We are also grateful to supervisor of our thesis group, sir ishfaq, coordinator of business adminitration, University of Sargodha for his keen interest and guidance which enables us to complete this study. The personality of a teacher is always a source of inspiration which guides the students towards their goals. It is a matter of great honor that we have been the students of such an ideal personality. They had won our heart full indebtedness with her undoubted insight and in disputable caliber research. It is fortunately tremendous opportunity to pay her heart full gratitude for her incisive guidance valuable ideas, constructive suggestions and academic experience. We are fully aware of many drawbacks which are generally associated with such a research work which can never complete in all aspects We can however earnestly hope

that this evaluation research would help the quarters concerned to bring about a better change in the services conditions of ngos. In the end, the group is thankful to each and every person who helped the group in any way during the research process

DEDICATION
Dedicated to
Hazrat Muhammad (Peace Be upon Him) who irradiated the darker paths of humanity with blaze of knowledge and guidance.

History of Meezan Bank :During 1997, Al-Meezan Investment Bank is established as the first Islamic bank of Pakistan. Mr. Irfan Siddiqui appointed as first and founding Chief Executive Officer. During 2002, the Shariah Supervisory Board is established at Al-Meezan Investment Bank led by Justice (Retd.) Muhammad Taqi Usmani as chairman. State Bank sets criteria for establishment of Islamic commercial banks in private sector and subsidiaries and stand-alone branches by existing commercial banks to conduct Islamic banking in the country. During 2003, A Musharaka-based Export Refinance Scheme has been designed by the State Bank in coordination with Meezan Bank Limited, in order to provide export finance to eligible exporters on the basis of Islamic modes of financing. Efforts are underway to develop Islamic money market instruments like Ijarah Sukuk to facilitate the banks in respect of liquidity and SLR management. Pakistans first Shariah-compliant Mortgage facility is launched by Meezan Bank. Approved by the Shariah Supervisory Board, the product enables home purchase, home construction, renovation, as well as replacement of any existing mortgage. Al Meezan Investment Management Limited (AMIM), a group company of Meezan Bank, introduces Meezan Islamic Fund (MIF). MIF is an open-end mutual fund that is Shariah compliant. Meezan Banks asset management arm, Al Meezan Investment Management Limited (AMIM), launches the Meezan Balance Fund (MBF). In March 2005, a dedicated Product Development & Shariah Compliance (PDSC) department was formally setup. The role of this research department is centralization of Product development activities, new product research, Islamic banking training and Shariah Compliance functions. The department works under the guidance & supervision of banks Shariah Advisor Dr. Muhammad Imran Usmani and the Shariah Supervisory Board of the Bank. PDSC now plays a central role at the bank by actively supporting new product development activities, refining existing products menu, preparing product policies & standardize agreements, imparting Islamic banking knowledge at various levels to new & existing staff members, corporate customers and general public, coordinating with banks Shariah Board, and conducting regular Shariah audits & reviews. During 2005, Meezan Bank launches the Meezan Islamic Institution Deposit Account (MIIDA), a product tailored for Islamic Financial Institutions (IFIs). The facility is the first of its kind in Pakistan, whereby Islamic Banks now have the opportunity to manage excess liquidity by maintaining a checking account with Meezan Bank specifically designed for this purpose. Meezan Bank becomes the first customer of Islamic Insurance (Takaful) by signing the first Memorandum of Understanding MoU with Pak Kuwait Takaful Company Limited (PKTCL).

"We must work our destiny in our own way and present to the world an economic system based on true Islamic concept of equality of manhood and social justice.",
Quaid-e-Azam Mohammad Ali Jinnah Founder of Islamic Republic of Pakistan On the Occasion of the Opening Ceremony of The State Bank of Pakistan on July 148

Meezan Bank Limited, a publicly listed company, was incorporated on January 27, 1997 and started operations as an investment bank in August that year. In January, 2002 in a historic initiative, Meezan Bank was granted the nations first full-fledged commercial banking license as a dedicated Islamic Bank, by the State Bank of Pakistan. Meezan Bank has clearly established itself as the largest Islamic Bank in Pakistan with the largest Islamic Banking branch network in the country. The banking sector is showing a significant paradigm shift away from traditional means of business and is catering to an increasingly astute and demanding financial consumer, who is also becoming keenly aware of Islamic Banking. Meezan Bank bears the critical responsibility of leading the way forward in establishing a stable and dynamic Islamic Banking system replete with dynamic and cutting-edge products and services. During the eight years of its operations as an Islamic commercial bank offering universal banking services to customers, Meezan Bank has been one of the fastest growing banks in the history of Pakistans banking sector. Average growth in deposits has been 55% per annum during this period while the branch network grew from 4 to 201. The Bank has established a strong and credible management team comprised of experienced professionals, that have achieved a strong balance sheet with excellent operating profitability and strong ratios, which places the Bank at the top of the Islamic Banking industry. The Bank has been assigned a long-term entity rating of A+ with a Stable outlook and a short-term entity rating of A1. The Banks main shareholders are leading financial institutions of the Region namely, Noor Financial Investment Company, Kuwait, a leading investment company based in Kuwait; Pak-Kuwait Investment Company, a AAA rated financial entity in the country and the Islamic Development Bank of Jeddah. The established position, reputation, strength and stability, of these institutions add significant value to the Bank through Board representation and applied synergies.

The Bank has an internationally renowned Shariah Supervisory Board Chaired by Justice (Retd.) Maulana Muhammad Taqi Usmani, an internationally renowned figure in the field of Shariah, particularly Islamic Finance. He holds the position of Deputy Chairman at the Islamic Fiqh Academy, Jeddah and in his long and illustrious career has also served as a Judge in the Shariat Appellate Bench, Supreme Court of Pakistan. The Board also includes Sheikh Essam M. Ishaq (Bahrain), Dr. Abdul Sattar Abu Ghuddah (Saudi Arabia) and Dr. Imran Usmani who is also the resident Shariah Advisor of the Bank. Dr. Imran is assisted by a team of professionals who strictly monitor the regular transactions of the Bank and are also responsible for Product Development. The bank has developed an extraordinary research and development capability by combining investment bankers, commercial bankers, Shariah scholars and legal experts to develop innovative, viable, and competitive value propositions that not only meet the requirements of todays complex financial world, but do so with world-class service excellence which our customers demand, all within the bounds of Shariah. Meezan Bank has a strong technology focus. It has invested heavily in state-of-the-art software applications namely Temenos T-24 and Oracle. It has also recently upgraded its hardware platform and also has a hot disaster recovery site in place to cater to any unforeseen eventualities. By implementing robust and aggressive strategic and tactical initiatives on the side of consumer banking, Meezan Bank aims to fulfill its prime target of providing customers accessibility and convenience, within an atmosphere and culture of dedicated service and recognition of their needs. The Bank has a rapidly growing branch network across all major cities nation-wide. At Meezan Bank, we believe in adding value to our customers lives and businesses through dynamic and competitive products and services that fulfill their needs while conforming completely to the dictates of Shariah. At the same time, we endeavor to deliver competitive risk-adjusted returns to our stakeholders.

Branch Designations:Area Manager

Mian Nasir Mehmood Asim Aslam Imran Ashraf Muhammad Umair Khan Muhammad saeed Shk.Bilal Naeem Shk.Farrukh Hussain

Branch manager Area Coordinator Operation Manager Operation Incharge Account officer opening

Clearing & Remittances Incharge

Chief cash officer

M.zeeshan

Hierarchy of Top Managements:Chairman Board of Directors Chief Executive Officer Executive Committee Executive Incharges Area Manager Central Area Manager Area Manager North South