Professional Documents
Culture Documents
CHAPTER# 1 ................................................................................................................................. 4
INTRODUCTION TO REPORT.................................................................................................... 4
CHAPTER# 3 ............................................................................................................................... 18
CHAPTER# 4............................................................................................................................ 25
4.1. STRENGTHS:................................................................................................................ 25
CHAPTER# 5 ............................................................................................................................... 29
INTRODUCTION TO REPORT
1.1) BACKGROUND OF STUDY:
This study covers the general business and management of the Meezan Bank Limited Mansehra
Lariaada branch, which focuses on the functions and operations of its branch interviews.
Students in BBA (Bachelor of Business Administration) must conduct a six or eight week
internship program in any organization to obtain a real-time business environment and obtain
practical knowledge about the day-to-day operations of the entity. The real purpose of this
internship program is to provide students with an opportunity to look at the practical application
of their background professional research.
The report reflects my experience at the MBL, Lariaada branch Mansehra where I was intern.
Meezan Bank Limited, a listed company, was incorporated on January 27, 1997 and began
operations as an investment bank in August of that year. In a historic initiative in January 2002,
Meezan Bank was awarded the first comprehensive commercial bank license in the country as a
dedicated Islamic bank by the State Bank of Pakistan.
BBA students need to be familiar with the practical application of business research and should
gain business experience. In this relationship, the student must have at least six weeks of
internship in any organization. It not only gives us the opportunity to interact with the people
who have worked there so that we can understand the climate and business status of the financial
institutions of Mansehra.
During the internship I was compiling, I used the following research methods.
i. PRIMARY DATA:
During the preparation of this report, it relies mainly on the primary information. The tools used
to collect the primary data are interviews and observations. In order to obtain the primary data, I
also carried out some practical work.
ii. SECONDARY DATA:
Secondary data is mainly used as background material and used for reference
The main sources of secondary data were the 2016 annual report, management accountant
magazines, newspapers, books and the MBL website.
Survey.
Observation as.
1.4) LIMITATIONS:
The study is subject to the subsequent limitation, Lack of attainable to create this report
additional correct, systematic and factual:
The terribly restricted amount of your time was out there to conduct the elaborated analysis, that
hindered procurance of complete and complete per day visit, that additionally cause some
difficulties in getting adequate info.
i. The bank officers thanks to secrecy of the bank matters didnt answer the quantity of
queries.
The financial set-up is predicated on absolutely the prohibition of payment or receipt of any pre-
determined basis. the speed of come back granted. This closes the door to the idea of interest,
excluding the employment of debt-based tools. The system encourages risk-sharing to push
entrepreneurial spirit, discourages speculation, emphasizes the sanctity of the contract
One of the varieties of market economy, that has been flourishing in non-Islamic society, is
associate degree interest-based investment. this sort of dealings typically has 2 participants. One
is that the capitalist WHO provides the loan funds and also the different manager of the business.
Investors don't care whether or not the business is losing cash, he mechanically profitable.
2.1.3. Riba:
The word Riba means that excess, increase or addition, that properly understood in line with law
nomenclature, implies any excess compensation while not due thought.
(This definition of Riba springs from Quran and is nemine contradicente accepted by all Muslim
scholars).
2.1.4. COMMERCIAL INTEREST AND USURY:
In 17th century two new technical terms of interest emerged after the established of banking
system.
In 17th century, two new technological interests emerged after the banking system was
established.
i. Tijarti Sood:
Since January 1, 1981, the Nationalized Commercial Bank and now all other commercial banks
in Pakistan, has introduced the profit and loss (PLS) deposit program features:
a. PLS-Saving Accounts.
b. PLS-Term Deposit Accounts.
c. Investment of PLS Deposits.
Literally, this means selling through a mutually agreed profit. Technically, this is the seller's
announcement of its cost and profit of the sales contract. Islamic banks have already acted as
financing. As a financing technology, the client asks the bank to buy certain goods for him. The
bank determines the profit at a predetermined cost.
IJARAH:
Ijarah is a known and proposed use of the contract, for the purpose of recommending the
interests of the service or the return of the designated and legally returned or considered, or
proposed expenditure effort or work. In other words, Ijarah or leasing is an assignment for
renting in terms of hiring assets or things and hiring wages.
IJARAH-WAL-IQTINA:
Islamic banks provide contracts, equipment or other assets to customers, as well as unilateral
commitments by banks or customers, at the end of the lease term, the ownership of the assets
will be transferred to the lessee.
Commitment or promise does not become an integral part of the lease contract, making it
conditional. The way in which rents and purchase prices are determined is that the bank
withdraws its principal and profit during the lease term.
Meezan Bank Ltd. is a listed company, established on January 27, 1997, in August that
year began to invest in banking business. In January 2002, Meezen Bank was awarded
the National Bank's first commercial bank license for the Islamic Bank in the historic
initiative by the State Bank of Pakistan.
Meezan Bank has clearly become the largest Islamic bank in Pakistan, with the largest
Islamic banking business branch network in the country. The banking sector is moving
from traditional business practices to important paradigms and is catering to an
increasingly sophisticated and demanding financial consumer who is also keenly aware
of the Islamic banking business. Meezan Bank is responsible for building a stable,
dynamic Islamic banking system that is dynamic and cutting-edge products and services.
Meezan Bank has been one of the fastest growing banks in the history of Pakistan's
banking industry for eight years as an Islamic commercial banking business that provides
customers with universal banking services. The average growth rate of deposits in this
period was 55%, and the branch network grew from four to 201. The Bank has
established a strong and trustworthy management team of experienced professionals to
achieve a strong balance sheet with strong operating profit margins and high rates,
making the Bank the preferred choice for Islamic banking. The Bank has allocated a
long-term entity rating of A + with a "stable" outlook and a short-term entity rating of
A1.
The main shareholders of the Bank are regional leading financial institutions, Kuwait's
leading investment company Kuwait, Noel Financial Investment Company, Pak-Kuwait
Investment Company is the country's AAA financial institutions and Jeddah Islamic
Development Bank. The position, reputation, strength and stability of these institutions,
through the board of directors and the application of synergies, add important value to the
Bank.
The Bank has developed its extraordinary analysis and development capability by
combining investment banks, business banks, law students and legal consultants to
develop innovative worth propositions, possible and competitive not solely meet the
necessities of today's complicated world money world, that our customers need, all
among the law.
Meezan Bank is powerfully focus technology. it's invested with heavily in state of the art
software system applications - Temenos T-24 and Oracle. Has recently upgraded its
hardware platform, and there's conjointly a "hot" disaster recovery website to satisfy any
unforeseen potentialities.
By implementing sturdy and aggressive strategic and military science initiatives in client
banking, Meezan Bank aims to attain its primary goal of providing client accessibility
and convenience in an environment and culture of skilled services and recognition of
their desires. The Bank incorporates a quickly growing branch network in major cities
across the country.
At Meezan Bank, we believe that by adding the vibrant and competitive products and
services that meet their needs, add value to the customer's life and business, and fully
comply with the provisions of the Shari'a. At the same time, we also strive to provide a
competitive risk-adjusted return for stakeholders.
2.3. BRANCH SETUP:
2.4. BACKGROUND REVIEW:
AL Meezan Bank began its business operation in Gregorian calendar month 1997 and obtained its meant
business standing in might 2002 at Meezan Bank restricted. the amount of capital adequacy measured by
the Bank is mostly beyond eightieth.
Internationally acceptable standards are the minimum needs of the full service bank of Islamic Republic
of Pakistan for V-E Day. MBL capital adequacy rate makes banks the height of the business. Meezan
Bank Ltd. is that the 1st monotheism bank in {pakistan|Pakistan|Islamic Republic of Islamic Republic of
Pakistan|West Pakistan|Asian country|Asian nation} ANd has been authorized by the banking concern of
Pakistan to work as an monotheism full service bank.
Bank pirates strictly follow the principles of shariah law. we have a tendency to area unit in a very
reliable monotheism oversight committee, composed of internationally far-famed monotheism students,
frequently visit the bank's activities
SheikhEssam M. Ishaq(Bahrain)
Pakistan became the first Islamic republic established by the name of Islam.
1980:
CII presented a report on the elimination of what was really considered to be the first major
integrated effort in Islamic banks and the financial world.
1985:
Commercial banks changed the naming of all rupee savings accounts to interest-less. However,
Pakistan's foreign currency deposits and foreign loans are still as previously mentioned.
1991:
In 1985 the bank passed the procedure by the Federal Shariat Court (FSC) declared non-Islamic.
The Government and some banks/DFIs made appeals to the Shariat Appellate Bench (SAB) of
the Supreme Court of Pakistan.
The government and some banks / DFI appealed to the Appeals of the Supreme Court of
Pakistan.
Al-Meezan's investment bank's mission is to pursue monotheism banking. Mr. Irfan Siddiqui was
appointed Chief military officer.
1999:
The House of Lords of the Supreme Court of Islamic Republic of Pakistan objected to the charm,
stating that each one interest bank laws ceased. the govt. has established high-level committees,
task forces and committees to determine and promote monotheism banking operations in parallel
with the traditional system.
2001:
Meezan Bank nonheritable Societe General's Pakistani business whereas Al-Meezan Investment
Bank conjointly turned itself into a mature monotheism bank. To the bank issued the primary
batch of monotheism banking license, and adjusted its name to Meezan Bank. President
Musharraf opened a replacement monotheism bank at a proper ceremony in urban center.
2003:
Meezan Bank became a pioneer in Pakistan's monotheism industry and quickly found out
branches altogether major cities across the country. in depth development and unharness
consolidates the Bank's position as Al-Meezan Investment Management restricted (AMIM), the
capital of the America capital, and Meezan's plus management department introduced the
Meezan monotheism Fund (MIF), the country's initial open monotheism fund.
2004:
The bank has established a special monotheism Banking Department (IBD) by merging the
Ministry of monotheism economic science of the Ministry of Finance with the monotheism
Banking Department of the Banking Policy Department. Has appointed the sharia law Council to
administer and approve pointers for rising monotheism banking. The Pakistani government has
issued AN authorization for the international unharness of the bonds for $ five hundred million.
This provide was productive and established a benchmark for Islamic Republic of Pakistan.
Meezan Bank as AN advisor to the current historic traitor of Islam.
2005:
Meezan Bank becomes the primary client of monotheism Insurance (Takaful) sign language the
primary memoranda of Understanding with Pak-Kuwait Takaful Company restricted (PKTCL).
The sign language of this memoranda of understanding has semiconductor diode Islamic
Republic of Pakistan into a replacement era of monotheism insurance (Takaful).
2006:
A number of latest dedicated Muslim Banks, particularly Bank Islami and Dubai Muslim Bank,
commence operations in Pakistan. Meezan continues its leadership position within the trade by
over doubling it branch network to a complete of sixty two branches in twenty one cities, clearly
establishing itself because the largest Muslim Bank of the country. Meezan Bank, becomes the
first Muslim bank to introduce eight am to eight pm banking at elect branches in Karachi.
2007:
Meezan Bank exposes its a centesimal branch. 2 new dedicated Muslim Banks start operations in
Pakistan, particularly Emirates international Muslim Bank and Dawood Muslim Bank.
Meezan Bank opened the a centesimal branch. 2 new dedicated Muslim banks traveling in
Pakistan, the UAE international Muslim Bank and also the Dawood Muslim Bank.
2009:
Six dedicated branches of Muslim banks and 480 branches of Meezan Bank (including sub-
branches) account for forty second of Iranian bank branches and 201 branches in fifty four cities
across the country. Muslim banks account for over five.5% of the entire banking sector.
2.7. VISION:
The establishment of Islamic banks as the preferred bank to promote the implementation of a fair
economic system for the establishment of a just and impartial human society to lay a solid
foundation.
2.8. MISSION:
To become the premier Islamic bank to provide customers with one-stop services for innovative
value-added products and services within the framework of Islamic Shariah, while optimizing
stakeholder values through organizational culture based on learning, fairness, respect for
individual businesses and performance.
2.9. SERVICE MISSION:
We consistently provide our products and services within the highest quality service, develop a
reliable service culture promoting the value of Islam and guaranteeing customer acceptance and
high quality banking experience.
Meezan Bank signed associate memo of Understanding with monotheism Relief Organization,
associate freelance international relief and development organization established in 1984 with
offices within the GB, offices in twenty five countries, and monotheism microcredit in Islamic
Republic of Pakistan. underneath the memo of Understanding, Meezan Bank can assist
monotheism relief organizations in strengthening their monotheism microfinance business in
Islamic Republic of Pakistan through capability building, coaching and merchandise
development support.
Meezan Bank command twenty four monotheism Bank seminars in fourteen cities in Islamic
Republic of Pakistan in 2009. Customers appreciate Meezan Bank's move and evoke a lot of
frequent seminars to assist them higher perceive the monotheism banking business.
Meezan Bank restricted and Riphah International University of capital of Pakistan signed a
memo of understanding to co-sponsor monotheism business and money programs for college
kids and money professionals. Meezan Bank can offer the steering of the course of experience,
providing credit time courses for lecturers, organizing workshops and seminars, sharing case
studies and proprietary analysis.
CHAPTER# 3
MARKETING STRATEGY
The Bank has launched a number of priorities to enhance its brand image, increase visibility into
existing customers and potential customers, and highlight the significant progress made this year.
The marketing campaigns listed below utilized Press, Radio and Social Digital Media.
In the ICC "Cricket World Cup 2015" during the corporate TVC campaign, which is one
of the most popular activities in Pakistan.
During the month of Rama sea Azaadi movement, emphasizing the importance of Riba's
banking business.
Performance in 2015 - highlight the milestone of the top 500 branches and the status of
the seventh largest bank in the country.
Awareness campaigns for free takaful for all account holders.
The Bank continues to style and turn out informative calendars for distribution to existing
and potential customers. This year, the Bank has written land and Urdu languages to
facilitate the convenience of shoppers within these areas of the Urdu language is a lot of
well-liked in the media. The calendar is additionally obtainable in digital kind on the
bank's web site.
Interviews with senior management groups square measure on print and tv to push public
awareness of monotheism banking.
The Bank adopted the Ramadan distribution methodology, instead of the standard fast
card, to focus on the importance of this holy month.
The Bank often disseminates data concerning its achievements and business and business
milestones to its purchasers and also the public through official press releases of print,
electronic and social media channels, and thru official communications - PAGES and its
computer network portal "Meezan World".
The Bank's annual report is additionally a comprehensive document containing the
monetary priorities and results of the past year. The news format is in line with the rules
developed by the Institute of chartered Accountants of Asian nation|West Pakistan|Asian
country|Asian nation} (ICAP) and also the Pakistan Institute of value and Management
Accountants (ICMAP).
The accomplishment method is clear and is elaborate within the Human Resources book of facts
accessible to any or all workers through the computer network.
Meezan Bank uses all suggests that on the market for the duty post as a part of its hiring method,
together with the Bank's company web site, social networking channels: Facebook and LinkedIn
and print advertising in major native newspapers. Bank management encourages existing
workers to use for vacancies to change workers to grow professionally.
To this finish, internal searches area unit allotted to fill vacancies at intervals the organization
similarly.
3.4) EMPLOYMENT OF SPECIAL PERSONS:
Meezan Bank embraces the variety, absolutely embodies its social responsibility as a company
subject. The Bank's business objective is to supply quality support for the disabled and to supply
them with opportunities for livelihoods and self-direction. The Bank hires individuals facing
challenges like lack of speech, lack of hearing or physical deformity. Despite the challenges,
these individuals are place into the work that may be created.
Meezan Bank provides staff with a large vary of coaching opportunities to realize their skilled
development. coaching includes technical coaching courses and seminars furthermore as
specialised soft skills coaching.
\
3.6) CUSTOMERS:
Safety measures have been taken to protect customers using ATMs and other ADC channels by
implementing the following:
Installation of locks and cameras in all ATM rooms with 24/7 recording
Anti-skimming devices have been installed on all ATMs
ATM-safe-usage-guidelines are displayed on all ATM screens for customers before they
undertake a transaction
The Meezan Internet Banking website is encrypted with 256 bit encryption
4.1. STRENGTHS:
i. MBL has the privilege of becoming the first bank of the Islamic banking sector, making
MBL competitive in all other banks and becoming a pioneer in the MBL in industry.
ii. Pakistan's largest Islamic bank, with more than 201 branches of the network, a total of 54
cities.
iii. The members of the Bank Islamic Shariah Supervisory Board are internationally
renowned scholars who serve on the board of directors of many Islamic banks operating
in different countries.
iv. Karachi, August 20, 2008: Pakistan's largest Islamic bank, Meezan Bank, has been
awarded the Best Islamic Bank Award by the Rawalpinds Chamber of Commerce and
Industry.
v. Become an Islamic bank, MBL has a wide range of national networks. As an emerging
market bank, it has branches in all major cities in Pakistan, providing online banking
services, and customers are easily traded across the country.
vi. The online banking service means that the customer can withdraw the deposit at any
branch in the country. If this service does not exist, the check must be made only in the
branch it draws. But with this facility, a person can get money at any branch of the bank.
This means that anyone with a bank account has 24 branches. It provides customers with
a lot of comfort and convenience.
vii. Bank products offer a lot of value-added features. Each account provides an ATM card.
Other features exist in a variety of products. Priority customers enjoy a good position in
the bank.
viii. Bank staff to provide impeccable customer service. For them, "the customer is the king".
Customers are highly respected and the highest honor.
ix. The working environment of the bank is very friendly and cooperative. Senior
management does not have any boss. The upper management consulted its staff to make
decisions and provide independence in the field of work. Because the goal is performance
and not meet the boss.
4.2. WEAKNESSES:
i. Until last year, MBL had a completely different view. Management believes that
customers should come, they do not need to go to the customer. But in this era of large-
scale marketing and advertising, if not the case, it is impossible. Banks now change their
minds and start effective marketing and advertising strategies. However, the previous gap
still exists, people lack of knowledge of the bank and its products. Banks need to improve
marketing and advertising.
ii. In the bank observed, the employee's satisfaction is quite low. First, the remuneration of
other banks is low. Second, the goal of the staff is too difficult to achieve. For example,
sales and service sector targets are higher than other banks across the country, whether
local banks or foreign banks. This makes the work pressure too much to keep people
moving is a good thing, but too much emphasis on them and the organization are
harmful.
iii. Due to the dissatisfaction of the staff, the mobility between them is high. Those looking
for other alternatives will not stay in the bank. As a result, the bank's training and
development caused losses. Banks should provide incentives for employees to show more
loyalty. For example, there is no commission to the salesperson, otherwise it is the
general rule around the world.
iv. Employees do not have various training programs. Newly appointed employees are
immediately placed in their posts without prior positioning. This creates difficulties for
new employees because they find it difficult to understand the organization's environment
and culture.
v. Decision making is done in the upper management, subordinates are not included in the
process. This creates insecurity for subordinate managers, which is why people lack
loyalty.
Although the superior management is very friendly to the subordinate management staff, but
only in the degree of cordial relations.
4.3. OPPORTUNITIES:
4.4. THREATS:
i. In addition to Meezan Bank, there are several banks that are providing Islamic banking
services. These banks include Islamic banks, AL Barkah Bank and some branches of
Alfalah Bank, which are dedicated to Islamic banking services. That's why we can say
that although Meezan Bank has not been a threat in the near future, it is not difficult to
see that more and more banks are likely to enter this area because public awareness of
Islamic banks is getting higher and higher. Therefore, Meezan Bank should not meet the
current market share, but should strive to provide better, better and more modern
services.
ii. As the number of traditional commercial banks increased, competition intensified.
Competitors' banks also have a lot of positive marketing. This is also a threat to MBL.
Reviewing this SWOT analysis from time to time helps to assess the bank's position. This will
help the management to compare past strengths and current strengths, and how much
management can overcome these weaknesses
CHAPTER# 5
I worked for eight weeks at the MBL branch of Lariaada Mansehra. within the eight weeks, I felt
like i used to be a part of the bank. though this can be my initial expertise within the bank work,
however from this expertise I learned plenty.
Based on my expertise and views on Meezan's banking business and policy, i'm making an
attempt to lift some queries and suggestions for additional improvement.
i. due to poor policy and poor employees turnover as a result of they lost everything due to
well-trained staff, they'd to chop back.
ii. As additional and additional Islamic banks enter the market, 2016 is predicted to contend
within the mired assets business.
iv. staff area unit sometimes long-faced with over loading issues.
vi. The branch grows, however Meezan's business might not grow at a similar rate.
vii. Meezan Bank's monetary info isn't expressly disclosed in any media.
viii. Employees' work activities don't seem to be equally distributed. Some staff an excessive
amount of, some employees an excessive amount of.
ix. Lack of job rotation is one in every of the ways that to extend worker skills.
x. Meezan Bank doesn't offer job security to staff. totally on the idea of the contract.
xi. Tailored for patrons lounge.
5.2. SUGGESTIONS:
i. 1st of all, i might prefer to recommend that banks should take a really active selling and
advertising strategy to alter them to know their Islamic merchandise and services among
the final public.
ii. Second, staff got to produce satisfaction between. they are doing not have any
dependence on the organization. Requiring loyalty to alter banks to cut back worker
discontent and alter.
iii. Bankers shouldn't be overworked as a result of excessive employment. The employment
is harmful. At this level of load, the workers at work relaxed all the comfort and remained
nervous and depressed.
iv. Work coaching may be a vital side of MBL lack. New staff square measure recruited
directly with none previous coaching or steerage. The result's that they are doing not
perceive the structure structure and culture and start to be annoyed. This reduces
productivity and potency. If such coaching is dispensed, the new staff can feel lighter and
a lot of labile to the atmosphere.
v. Meezan Bank restricted ought to still expand its business to extend its portfolio through
aggressive penetration ways.
vi. Meezan Bank restricted has to improve its web site. a lot of data on bank money
performance ought to be provided on the web site.
vii. The management should distribute the work equally among the various staff.
viii. Relevant work ought to be appointed to staff in order that they'll work a lot of effectively.
ix. it's counseled that staff sign at intervals a selected amount of your time instead of transfer
to alternative departments to achieve information of alternative jobs.
x. Increase the space room area.
xi. a lot of individuals should be for good utilized to produce job safety and satisfaction.
xii. MBL ought to be terribly specific to its competitions so as to be ready to perceive its
competitor at the primary degree, 2 degrees. The search unit ought to keep making an
attempt to gather data regarding the present behavior in order that its competitors and
expected future actions. therefore during this approach you'll develop a simpler strategy.
xiii. workers ought to have cooperation awareness, managers ought to be trained to manage
the team as a decent leader.
xiv. Ought to introduce new programs to allow customers the best privilege to win the market.
xv. New selling ways ought to be developed to draw in new customers.