Chapter # 1 Introduction

1.1 Introduction
Chapter one is about introduction of report. As a part of requirement of BBA degree six
week internship is necessary for student. This chapter includes background, purpose, scope,
objectives and methodology of the study. It also include introduction of organization.

1.2 Background of the study

Internship training program during Bechler in Business Administration Program is necessary

for the partial fulfillment of the completion of Degree of Bechler in Business Administration as
per HEC (Higher Education Commission) requirement. It is necessary for me to complete an
internship session of about 6 weeks in some manufacturing or servicing industry relevant to my
area of interest and specialization. So, I choose the Banking field because I have interest in this
sector because my study background is related with this sector.

1.3 Purpose
Internship is the capstone experience that provides me with hands-on, real-world experience in a
work setting. Ideally, internship will enable internees to:
➢ Use my knowledge and skills get from the classroom.
➢ Discover where further competence is needed.
➢ Convert the bookish knowledge into practical life, and
➢ Become better acquainted with the types of work settings in which such Competence can be
applied.

1.4 Scope
This study will facilitate to me regarding the working of Banking sector of Pakistan because most
of the teachers during their lectures use the examples of Banks like ASKARI, Students should
study about the functioning of such Banks. It will help full for me in future.
1.5 Limitation of the Study:
The study is done with the sole purpose of doing the best work but there were certain limitation
faced during the internship period. The most important limitation from which the study suffers is
the non-availability of information in a manner required for analysis and the secrecy of the bank.
Another important limitation of the study is time and space constraint.

1.6 Objectives:
I worked as an internee in ASKARI Bank (3370) Branch Saddar, Hyderabad. The main objectives
to study in ASKARI were:
➢ To get some experience in working with well reputed organization.
➢ To gain knowledge about the professional environment of the bank.
➢ To know about the technology utilized in the banks.
➢ To deal and manage with the situation of stress.

1.7 Methodology:
There are mainly two methods that are used for the collection of data.
✓ Primary Data ✓
Secondary Data (A) Primary Data:
➢ Observation of functions of Branch operations on the spot.
➢ Observation of different processes of Branch on the spot.

(B) Secondary Data:

➢ Internet is very helpful for me to study more about banking sector of Pakistan.
➢ Different type of booklets of the Bank.
➢ Annual reports.
➢ Journals.
➢ Newspapers.
 Chapter # 2 History About ASKARI

2.1 HISTORICAL BACKGROUND:

Askari Bank was incorporated in Pakistan on October 9, 1991, as a public limited
company. It commenced operation on April 1, 1992, and is principally engaged in the business of
banking, as defined in the Banking Companies Ordinance, 1962. The Bank is listed on Pakistan
Stock Exchange (earlier it was listed on Karachi, Lahore and Islamabad Stock Exchanges).

Since inception, the bank has concentrated on growth through improving service quality,
investment in technology and people, utilizing its extensive branch network which includes Islamic
and agricultural banking.

Corporate Social Responsibility is an integral part of the way we do business. In order to

fulfill our CSR objectives, we attempt to promote public interest by encouraging community
growth and development through sponsoring social service events, supporting education, sports
and environment and also contribute in socio-cultural activities.

2.1.1 NATIONALIZATION:

Askari Bank has since expanded into a network of 261 branches / sub branches, including
34 dedicated Islamic banking branches, and a wholesale bank branch in Bahrain. A shared network
of 5,903 online ATMs covering all major cities in Pakistan supports the delivery channels for
customer service. As at December 31, 2012, the Bank had equity of Rs. 19.7 billion and total assets
of Rs. 353 billion, with 907,984 banking customers, serviced by our 5,597 employees. Askari
Investment Management Limited and Askari Securities Limited are subsidiaries of Askari Bank
engaged in managing mutual funds and share brokerage, respectively.

2.1.2 PRIVATIZATION:
Our vision to be the bank of first choice in the region demands continuous strive for creation
of business opportunities with innovation while maintaining our core values to meet our
commitment to all our stakeholders. The range of our products aims to serve our diverse customer
base that comprises of corporate, SMEs, individual savers, households and, farmers. At the same
time, our people are constantly engaged in assessing customer needs and market dynamics to
realign our products and priorities to attain brand recognition and competitive edge. We are
continuously reviewing and reshaping our portfolio of businesses by investing in higher growth
areas, extending and developing our core competencies and moving out of weak and non–core
segments. Technology has played a pivotal role in meeting customer expectations, particularly
with respect to speed.

2.2 About ASKARI:

Over the years ASKARI has developed strong relationships with its customers by
understanding their needs and treating them with respect, dignity and importance. The driving
force behind its commitment and services is its focus on customers ensuring that it not only meets,
but also exceeds their expectation.
They strive to achieve excellence by ensuring that every moment of their time is spent in adding
value, making sure that they do things right, first time, and every time. With the quest of quality
ASKARI has always taken initiatives bringing banking into a new arena; from cash to the
convenience of plastic; from branch banking to internet banking and from face to face customer
interaction to online accessibility.
ASKARI 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. ASKARI is also catering to the growing middle class by providing new
asset and liability products. ASKARI Bank Limited (Formerly Askari Bank Limited) has a solid
foundation of over 63 years in Pakistan, the Bank provides 24 hour banking convenience with a
network of over 261 branches, the largest ATM network in Pakistan over 5,903 ATM locations in
the market.

2.3 Organization Profile

Name of Organization: Askari Bank Limited.

Chairman: Mr Manzoor Ahmed
Location: Sadar Branch, Hyderabad.

Branch code: 3370

UAN: 111-000-787 (ASKARI)

Website: www.askaribank.com

ORGANIZATIONAL STRUCTURE:
As ASKARI is a banking company listed in stock exchange therefore it follows all the legalities,
which are imposed by concerned statutes. MR. Manzoor Ahmed is chairman of the company with
a team of to help in the business control and strategy making for the company.

The different operational departments are:

 Consumer Banking & IT Division

 Financial & Inter Branch Division
 Banking Operations Divisions
 HRD & Legal Division
 Financial Control & Audit Division
 Credit Management Division
 Commercial Banking Division
 Corporate Banking Division


2.4 VISION & MISSION Vision

Statement:
To be the bank of first choice in the region.
Mission Statement:
To be the leading bank in Pakistan with an international presence, delivering quality service
through innovative technology and effective human resource management in a modern and
progressive organizational culture of meritocracy, maintaining high ethical and professional
standards, while providing enhanced value to all our stakeholders, and contributing to society.

✓ Providing innovative
✓ Efficient financial solutions
✓ Long-term relationships with our customers ✓ Shareholders invest with confidence

Our Values:
Integrity is the most valued standard in whatever we do. We understand that our
commitment to satisfy customers’ needs must be fulfilled within a professional and ethical
framework. We subscribe to a culture of high ethical standards, based on the development of right
attitudes. The intrinsic values, which are the corner stone’s of our corporate behavior, are.

• Commitment
• Integrity
• Fairness
• Teamwork
• Service

2.4.1 VALUES OF ASKARI

INTEGRITY:
To build long term relationships by delivering transformative customer experience, responsible
banking, innovative technology, aiming to be employer of first choice and shaping opportunities
that grow shareholders’ value.

RESPECT:
We respect our customer’s values, beliefs, culture and history. We value the equality of gender and
diversity of experience and education that our employees bring with them. We create an
environment where each individual is enabled to succeed.

EXCELLENCE:
We take personal responsibility for our role as leaders in the pursuit of excellence. We are a
performance driven, result oriented organization where merit is the only criterion for reward.

CUSTOMER CENTRICITY:
Our customers are at the heart of everything we do. We thrive on the challenge of understanding
their needs and aspirations, both realized and unrealized. We make every effort to exceed customer
expectations through superior services and solutions.

INNOVATION:
We encourage and reward people who challenge the status quo and think beyond the boundaries
of the conventional. Our teams work together for the smooth and efficient implementation of ideas
and initiatives. ASKARI soon earned the reputation of a solid and conservative financial institution
managed by expatriate executives.
The Bank has a customer base of approximately 4 million, a nationwide distribution network of
over 1,000 branches and over 450 ATMs in the market.
During the last fifteen 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.

2.4.2 Awards and Achievement:

Euro Money Awards

• He Best Annual Report Award for the year 2012 – 2nd Runner-up“ by ICAP & ICMAP

• “The Best Annual Report Award for the year 2011“ by ICAP & ICMAP
 • “Best Presented Annual Report Award and SAARC Anniversary Awards for Corporate
Governance Disclosures 2011“ ” by South Asian Federation of Accountants “Best Retail
Bank in Pakistan” by The Asian Banker.

• “1st Consumer Choice Award” by the Consumer Association of Pakistan – 2004

• “Corporate Excellence Award” by the Management Association of Pakistan (MAP) –

2002, 2003 & 2004

• “The Best Bank in Pakistan” by Global Finance magazine – 2001 and 2002

• “Best Consumer Internet Bank” Global Finance magazine – 2002 and 2003

• “Euromoney and Asiamoney Awards” – 1994, 1996 and 1997

• “Best Presented Annual Accounts” by (ICAP) and (ICAMP) – 2000, 2001 and 2002

• “The Best Presented Annual Accounts” by South Asian Federation of Accountants

(SAFA), in the SAARC region

• “The Best Consumer Banking Award 2006” by the Consumer Association of Pakistan
2007.

• “The Best Retail Banking Award 2008” by Pakistan Guarantee Export Corporation Ltd –
2008

• “Best Corporate Report Award for the year 2008” by ICAP & ICMAP – 2008

• “The Best Annual Report Award for the year 2010” by ICAP & ICMAP

• “The Best Presented Accounts Award 2010 – 2nd Runner Up-Joint” by South Asian
Federation of Accountants

2.5 Branches network

NORTH REGION CENTRAL REGION SOUTH REGION WHOLESALE BANK BRANCH

Islamabad 19 Lahore I 13 Karachi I 11 Branch (Bahrain) 1

Rawalpindi I 20 Lahore II 13 Karachi II 12
Rawalpindi II 16 Sahiwal 12 Karachi III 12
Peshawar 13 Faisalabad 10 Karachi IV 14
Azad Kashmir 8 Gujranwala 12 Hyderabad 16
Corporate 1 Multan 12 Quetta 10
Islamic 12 Corporate 1 Corporate 1
Islamic 12 Islamic 10
Total 89 Total 85 Total 86 Toal Branches / Sub Branches..261

Chapter # 3 Internship activity

Mr. Umair (Operational Manager)

This section is based on my observation and experience and rotation during my internship at the
Sadar Branch Hyderabad of ASKARI Bank Limited. Some of the jobs that I performed or assisted
in performing or overlooked in the various departments were

3.1 Accounts
Following are the types of account in ASKARI

3.1.1 CURRENT ACCOUNT

➢ No restriction on Withdrawals and frequency of transactions
➢ No profit is paid on Current Accounts
➢ Service Charges are recovered as specified in the Schedule of Charges ➢ No Zakat is to be
deducted on Current Accounts.
➢ Free of cost account statements are dispatched on half yearly basis within one week after
the mid-year closing. If any customer wishes to receive the account statement other than
the half yearly cycle, charges will be recovered as per the Schedule of Bank Charges RS.50
➢ Account opening with Rs.1000
➢ Minimum maintain balance Rs.10,000 if less then minimum limit Rs.50 will deduct
Eligibility
✓ Individuals (Single/Joint)
✓ Firms (Sole Proprietor Partnership)
✓ Companies (Public and Private Limited), Trust/ Clubs/ Societies and Associations are
eligible to open Current Accounts.

3.1.2 BASIC BANKING ACCOUNT

To provide banking facilities to low income people without the restriction to maintain minimum
balance requirement

Features
➢ The account is opened with a minimum initial deposit of Rs.1000.
➢ BBA is a Rupee Current Account (non-remunerative account).
➢ There is no minimum balance requirement, and hence no monthly account maintenance
charges apply.
➢ In case where balance in BBA remains “ZERO” for a continuous 06 month period, the
account will be closed automatically.
➢ Each month the account holder is allowed 02 deposits transactions (either cash or clearing)
and 02 withdrawals (cash or clearing). All customer initiated transactions over and above
this limit will be charged Rs. 25 per transaction
➢ All ATM transactions conducted through electronic channels (i.e. ATM, Debit Card POS
machine, Virtual Banking) are exempted of transaction fee. Hence the customer is allowed
unlimited transactions through these channels.
➢ ATM cards are issued to all BBA account holders in on-line branches. Card issuance and
annual fee will be recovered as per Schedule of Bank Charges.
➢ ATM transaction charges on balance enquiry / mini statement and on usage of non-
ASKARI ATM’s will apply as per Schedule of Bank Charges.
➢ Statement of account to be mailed as per existing policy of the Bank. Charges for duplicate
statement will apply as per Schedule of Bank Charges. Eligibility
✓ Low income individuals are eligible for opening BBA with single or joint account type.
✓ Existing individual account holders can also convert their regular Savings or current
account into Basic Banking Account.
 ✓ This facility is not offered to non-individuals

3.1.3 SMART SAVINGS ACCOUNT

➢ Offers the opportunity to small and medium sized depositors (individuals only) to earn
attractive returns on their deposits. Cash withdrawals takes place only through ATM/POS.
➢ Individuals can open an account with a minimum initial deposit of Rs. 1,000.
➢ Profit is calculated on a monthly basis and credited to the account after each calendar quarter
➢ All ATM transactions conducted through electronic channels (i.e. ATM, Debit Card POS
machine, Virtual Banking) are exempted of transaction fees. The customer is allowed
unlimited transactions up to available balance in the account through these channels.

➢ The profit is calculated only on minimum deposit balance between Rs. 10,000/- and Rs.
300,000/- during a month, irrespective of the balance available in the account (as per
prescribed slabs). This range can be changed by the Bank any time without giving prior
notice to the customer (as and when required).
➢ Profit is calculated monthly, based on the minimum balance of the account during the
month. In case minimum balance exceeds the ceiling of Rs. 300,000/- in a month, profit
would only be paid on Rs. 300,000/-
➢ ASKARI Smart Savings account can be merged with the regular PLS Savings account any
time by giving 3 months notice to the customers at the discretion of the Bank.
➢ The profit rates are estimated/provisional and subject to change any time at the discretion
of the Bank.
➢ Service charges would be applicable as per Bank policy if the balance goes down below
the prescribed minimum balance.
➢ Cheque book would not be issued to the account holder. ATM Card would be issued to the
customer for cash withdrawals.
➢ A customer can open only one ASKARI Smart Savings Account in the Bank, in case a
customer is found to have more than one Smart Savings Account, the Bank reserves the
right not to give the profit or recover profit if already paid to the customer on their
account/s.
➢ Zakat is deducted as per the policy. Withholding Tax is also deducted from profit (where
applicable) as per Income Tax Laws.
Rates
Up to RS.199, 999 5%
Rs.200, 000 – 299,999 7%
More than Rs.300, 000 5%

Profit Calculation:
Profit will be calculated on a monthly basis, based on the minimum balance maintained by the
customer during that month.

Eligibility
✓ Only Individuals (Single or Joint) are eligible to open PLS Smart Savings Account.
✓ Non-Individuals like Proprietors Company, Partnership, Trading, Collection accounts
etc are not eligible.

3.1.4 KHUSHALI BACHAT ACCOUNT

Provides additional facilities for payment of Utility Bills and Loan Installment of HBFC through
debit of Account (free of charge) with added feature of profit calculation at average daily balance.
(At designated branches only
➢ Minimum balance requirement as specified in the Schedule of Bank Charges.Rs.20,000 ➢
Profit provisioning/ accruals are made on Daily Closing Balance of the day.
➢ Profit is disbursed /paid on half yearly basis as per the rates notified by the bank.
➢ Free of cost Account Statement is dispatched on half yearly basis.
➢ Zakat is deducted as per the Government’s and Zakat Ushr Directives. Zakat is not
deducted on the accounts of Non- Muslims and where Affidavit is provided.
➢ Withholding Tax is deducted on Profit as per the Government’s policy. Standing
Instructions:
For all Standing Instructions regarding payment of Utility Bills /HBFC Installments, customer fills
out the Standing Instructions Form (SF- 256A) at the time of opening the account or subsequently
whenever desired to avail such facilities.
Conversion of Existing Account to Khushali Bachat Account:
Existing PLS Savings Accounts can be converted into Khushali Bachat Account on the request of
the customer. Branch obtains written request duly signed by the customer. Branch verifies the
customer’s signature from the record/system and attaches the application with the original Account
Opening Form. Eligibility
Only Individuals (Single or Joint) are eligible

3.1.5 PLS SAVINGS 365

PLS Savings 365 also falls under the category of Savings Deposit Scheme.
➢ It is a checking account and there is no restriction on number of withdrawals and deposits
transactions.
➢ Account is opened with minimum deposit of Rs.300,000/-
➢ Profit is calculated on daily product basis on the balance of Rs.300,000/- and above.
However, if balances in the account fall below Rs.300,000/- on any day, the product will
be considered as well and the profit will be paid as per the rates notified by the Bank on
half yearly basis.
➢ All other terms and conditions including rates of profit, Zakat and Withholding tax
applicable to PLS Savings Bank Accounts are applicable.
Eligibility
All types of customers are allowed to open PLS- 365 accounts except Development Financial
Institution.

3.1.6 PLS SAVINGS 365-Gold

Offered to Corporate Groups, Multinational Companies, and Government and Autonomous bodies.
➢ Calculation of Profit is made on daily product basis at variable rates according to Deposit
Slab Range at declared rates on Half Yearly basis.
➢ There is no limitation on number of withdrawals and amount of withdrawals.
➢ The account requires a minimum deposit of Rs. 500,000 or more in order to get attractive
profits. In case, account holder is not maintaining a minimum deposit of Rs. 500,000 in the
account, the profit is paid at the prevailing Savings Rate.
 ➢ Service charges would be applicable as per Bank Policy if the balance goes below the
prescribed minimum monthly average balance.
➢ All other terms and conditions including rates of profit, Zakat and Withholding Tax
applicable to PLS Savings Bank Accounts are applicable.

Rates
Less than 10 Million 5%
Rs.10 Million to less than 25 Million 6%
Rs.25 Million to less than 50 Million 6.5%
Rs.50 Million to less than 100 Million 7%
Rs.100 Million to less than 250 Million 7.5%
Rs.250 Million to less than Rs.500 Million 8%
Rs.500 Million and above 8.25%
Eligibility
Individuals and institutions can open the account.

3.1.7 SAVINGS XTRA

Grow with ASKARI Xtra by saving more and earning greater profit.
ASKARI Savings Xtra Account offers you a wide range of attractive profit rates.
KEY POINTS
➢ Initial balance for account opening required Rs.1000
➢ Minimum balance maintain limit Rs.100000
➢ The higher your balance, the higher your profit.
➢ Now avail attractive rates up to 8.5%.* ➢ Profit calculated on monthly basis.
➢ Profit paid into your account semi-annually.
➢ No joining fee on Debit/ ATM Card.
➢ 50% discount on lockers.
➢ Cash deposit and withdrawal facility at hundreds of branches nationwide.
➢ Unlimited number of ATM withdrawal transactions.
➢ 3 free withdrawal transactions through the branch every month.
3.1.8 BUSINESS ACCOUNT
ASKARI Business Account lets you build your business through the accrued savings from
discounted transaction fees, and more.

KEY POINTS
➢ Higher the balance the higher the number of free transactions.
➢ Open a Business Account with Rs.50, 000 only.
➢ Unlimited free cash deposit and withdrawal facility at hundreds of branches nationwide.

FREE SERVICES
When you maintain average monthly balance of Rs.100, 000 or above ➢
Demand Drafts/Pay Orders.
➢ Cancellation for Demand Drafts/Pay Orders.
➢ Cheque Book.
➢ International ATM Gold Card.

3.2 TERM DEPOSIT

3.2.1 SPECIAL RUPEE TERM DEPOSIT (STD):
The Special Rupee Term Deposit is governed under the PLS rules, but offers the depositor a stable
rate of return for a fixed maturity. It is a mandatory requirement for booking a Term Deposit to
have a checking account (Current/Savings) in the Bank.
Product is available in the following tenors:
3 months, 6 months, 1 year, 3 years & 5 years
The minimum amount to be placed under this scheme is Rs.1000, 000/- (amounts can be booked
in multiples of Rs.1000).
Each tenor is divided into 3 categories based on the deposit amount.
• Rs.1,000,000 to less than Rs.10,000,000
• Rs.10,000,000 to less than Rs.25,000,000
• Rs.25,000,000 and above
Zakat
Zakat is deducted as per the rules of Zakat & Ushr Committee (as advised and amended from time
to time)
Withholding Tax
Withholding Tax, where applicable shall be deducted from the profit amount, as per Income Tax
Laws in force at the time of profit payment.

This deposit can be used as a security / collateral and the depositor can avail up to 75% of the
principal amount upfront. The depositor also has the option of increasing the financing limit up to
90% of the principal amount, upon obtaining the necessary approvals from the relevant authority.
The tenor of the financing facility should be within the maturity date of the deposit.
In case of premature encashment, the depositor will bear the tax expense Profit
payment frequency:
Profit on the special TD is paid on the date of maturity of deposit for 3 and 6 months tenor. Deposits
booked for 1, 3 and 5 years tenor is paid profit on a quarterly basis. Hence the depositor gets the
opportunity of investing for a long term without compromising on cash flows.

Payment of profit:
➢ Profit amount will be credited into the depositor’s linked/ specified current or Savings account. ➢
Cash payment of profit amount will not be allowed.
➢ Branch is required to maintain maturity date and profit payment dates for each account so
that there is no delay in payment of profit to the depositor.
Eligibility
(Existing Account Holders) Individuals, Firms and Companies

3.2.2 SPECIAL NOTICE DEPOSIT (SND)

07 days Notice Deposit:
Issued for 07 days only and if encashed before 07 days is not eligible for profit/interest.
30 days Notice Deposit:
Issued for 30 days and encashed after seven days is eligible for Profit/Interest payable for 07 Days Notice Deposits.

Eligibility
Existing Account Holders (Individuals, Firms and Companies)
3.2.3 SMART FOREIGN CURRENCY FIXED DEPOSITS
➢ The minimum amount to be placed under this product is USD $ 10,000.
➢ Interest rates are offered based on the amount of deposit.
➢ Free Lockers Facility
➢ Free of Charge Bank Statement & Smart Cards
➢ Discount (Up to 50%) on processing charges of Personal Loans & Car Financing.
➢ Preferential rates on consumer loans.
➢ Interest on the smart foreign currency fixed deposits is paid on the date of maturity of deposit
for 3 and 6 months tenor. Deposits booked for 1 year is paid interest on a half yearly basis.
➢ Cash payment of Interest amount is not allowed.
➢ Minimum retention period is 01 month, irrespective of the tenor for which the deposit is
booked. In case depositor wishes to encash the deposit before completion of one month,
only principal amount will be paid to the customer. If customer wishes to encash the deposit
after one month but before maturity, the branch will pay interest at the Savings ➢ Rate for
the number of days completed.
In case of any change in the above features, prescribed procedure by RBG will be applicable.

3.5 Classification of Accounts

3.5.1 Dormant Accounts
Checking accounts are classified as dormant accounts on the following conditions:
➢ Current accounts not operated for “6” months and Savings accounts not operated for one
year shall be classified as dormant accounts.
➢ Half yearly profit shall continue to be applied as usual on Savings account only.

3.5.2 Inoperative Accounts

➢ Current Accounts not operated for “2” years and Savings accounts not operated for “3”
years shall be classified as “Inoperative accounts”
➢ Half yearly profit shall continue to be applied as usual.

3.5.3 Unclaimed Deposit Account

If a Current & Savings Accounts remains Inoperative for “08 & 07” years respectively will be
classified as Unclaimed Deposit Account. In addition to this, Bank Drafts, Government Drafts,
Payment Orders, Mail Transfers, Fixed/Term Deposits etc. remains outstanding for 10 years from
the date of issuance will be classified as Unclaimed Accounts.
Banking Companies Ordinance 1962 under section 31 clearly defines that Banks are required to
transfer the Unclaimed Deposits to State Bank of Pakistan (SBP) on the completion of a period of
Ten (10) years without any delay.

3.5.3.1 Notice to the Holder of Unclaimed Deposits/ Instruments

➢ 03 months prior to the completion of Unclaimed Deposits, branches are required to intimate
the account holder in writing via mail on the customer’s address regarding the settlement
of their deposits/instruments.
➢ If on the expiry of the three months period no acknowledgement or reply is received from the
holder of unclaimed Deposit/Instrument, the entire funds should be transferred to SBP .
➢ Branches are required to maintain complete record of letters sent tithe holders of
Unclaimed Deposits
➢ Branches are also required to send written intimation to the Government Institutions,
Agencies, Court of Law and Minors (After acquiring the age of maturity) for the settlement
of their deposits/instruments.

3.5.3.2 Reporting Of Unclaimed Deposits

Branch submits list of unclaimed deposits/ instruments separately for Pak Rupee and in Foreign Currency
(FCY) on the Form XI (Annexure- I-05-B) within thirty days after the close of each calendar year.

3.5.3.3 Transfer of Unclaimed Accounts to State Bank of Pakistan

➢ The amount of unclaimed PKR and FCY deposits/ instruments is transferred to SBP at the
end of each calendar year along with a list of unclaimed deposits/instruments.
➢ In case of Frozen FCY deposits / Instruments of 1998, as and when become unclaimed, the
Bank/DFIs will surrender the equivalent PAK RUPEES to State Bank

3.5.3.4 Retention of Documents

Preserve all signature cards and documents indicating the “Signing Authority” and other
documents in the dual custody of Operations Manager and Designated Authorized Officer.
3.5.3.5 Refund Procedure
All claims lodged with the Branch about Unclaimed Balances transferred to State Bank of Pakistan
(SBP), should be forwarded to State Bank of Pakistan through Principal Office and after getting
Proceeds from State Bank of Pakistan same shall be paid to the Claimant.
While forwarding any claim for refund, branches are required to obtain the following documents:
➢ Original application for refund long with verification of attested signature/thumb impression of
the claimant by the Branch Operations Manager or Designated Authorized Officer with the name
and stamp.
➢ Claimant’s address and contact number must be clearly mentioned in the application.
➢ Copy of Intimation Letter sent to the holder of unclaimed deposit/instrument.
➢ Attested copy of CNIC of the claimant.
➢ Certificate as per Annexure- I-05-C.

3.6 Account Closure

For the purpose of account closing a form has been constructed to aide this process. Whenever the
client wants to close the account, the only responsibility of the bank is to collect the issued cheque
book from the customer and to get the constructed application form of account closing completely
filled. After that the payment of the entire amount in the account is paid to the client.

3.7 Overview of cheque

(Mr.Zahid Bhurguri. Remittance / Advances / Forex)
Cheque book is a safe custody instrument. Cheque is used for cash withdrawal and making
payments. Cheque books are relatively sensitive items hence due care must be exercised while
handling them.

Issuance of Cheque book for New Account Holders

MF-80R is used for cheque book issuance to the New Account Holders as well as the exiting
customers (In absence of existing cheque book or cheque book requisition slip). Issuance of
Cheque book for Existing Customer
Prior to issuance of a new cheque-book, please ensure that the affair of the account is satisfactory
in all respect (customer maintaining minimum balance requirement, account is not dormant
/blocked/ inoperative, the relationship activity is within the prescribed norms of banking
regulations & the customer’s signatures are verified as per the required practice).
Cheque books should be issued to the account holder or his/her authorized representative at the
Bank’s counter if DAO is fully satisfied. However, in exceptional cases the Operations Manager
may allow issuance/ dispatch of cheque book to the customers through courier after completing all
the relevant formalities.

Handling of Undelivered Cheque books

All processed cheque books that remain uncollected by the customers for six months from the date
of issuance must be destroyed by the branches after the recovery of Cheque book issuance charges
and Excise Duty (If any).
Ensure proper notation on cheque-book issuance Report for the books destroyed.

3.8 REMITTANCES
This covers the services and products that Bank offers to its customers for Funds Transfer.
Currently Bank is offering following Products & Services for Fund Transfer: (Locally &
Internationally).
➢ Payment Order
➢ Demand Draft (Local & Foreign Currency)
➢ Telegraphic Transfer (Local & Foreign Currency)
➢ Mail Transfer (Local Currency)

3.8.1 Demand Draft

Features
➢ Demand Draft is a written order.
➢ Drawn by one branch of a Bank upon another branch of the same Bank, or upon other Bank
to pay a certain sum of money to or to the order of a specified person. It is issued by one
branch of a bank and payable by another branch of the same bank or another bank ➢ Demand
Draft is a negotiable instrument.
➢ Demand Draft is neither issued payable to bearer nor drawn on branches situated within the same city.
➢ Legal provisions as to crossing, endorsement, collection and payment in due course are
similar to those as for cheques and other negotiable instruments.
➢ It is to be ensured that the purchaser of Demand Draft is able to at least sign his name.
➢ Thumb impression is not to be accepted on Funds Transfer Application except in cases where
purchaser is maintaining an account with the issuing branch. A person unable to sign and not
 having an account may be advised to apply for the DD through a literate person to sign on his
behalf.

3.8.1.1 Parties involved in the Demand Draft

1. Purchaser: Is the person, firm, company or local authority.
2. Issuing or Drawing Branch: The Branch which issues a Draft on another Branch.
3. Drawee Branch: Is the Branch on which a draft is drawn.
4. Payee / Beneficiary
Draft
Remitter Beneficiary

Fund
received

Draft

Advice
Issuing Branch Drawee Branch

Payment of Demand Draft via Cash

When Demand Draft is presented at the counter of a Drawee branch for cash payment,
identification of a payee is required. If a payee is the customer of a branch, his signature can be
verified from the specimen signatures on the record.
A Crossed DD cannot be paid in cash, except to a banker who collects the same for credit to his
customer’s account. As such, a crossed DD cannot be presented by the Payee for Cash payment at
the counter.

Payment of Demand Draft in Transfer/ Clearing

Payment of Demand Drafts can also be made in Transfer/ Clearing. A complete procedure for
collection / payment has been explained in the section of Cash and Counter Services (Inward
Clearing
 Revalidation of Demand Draft
Since DD is payable within six months from the date of its issue, therefore, an instrument being older
than six months requires revalidation before payment.
Following procedure will be used:
➢ The signature on such letter should be duly verified.
➢ DD should be presented to the Issuing branch.
➢ Particulars of the DD should be compared with those given in the RSBS or Branch Teller
Module.
A rubber stamp reading “Revalidated on --------” should be affixed on the DD under signature of
two authorized officers of the branch with IBS or AS Numbers.

3.8.2 Payment Order

Payment Order is used for making payments within a city. Literal definition of Payment Order is
as follows:
“A Pay Order is a written authorization for payment, made in a cheque form issued and payable by the
bank, to the person named and addressed therein on his giving a proper discharge thereon”.
FEATURES
➢ It is issued by and drawn upon and payable by the same branch of the bank
➢ It is neither transferable nor negotiable and as such it is payable to the payee named therein
➢ It is in a receipt from and therefore is payable only after obtaining a discharge of the payee
on adequate revenue stamp
➢ Pay Order cannot be issued to a minor
➢ Pay Order meant for bank’s own payment but in practice these are also issued to customers
for making payment.
➢ Pay Order is issued for payments within the same city

3.8.2.1 Characteristics of the Payment Order

➢ It is issued by and drawn upon and payable by the same branch of the Bank.
➢ It is neither transferable nor negotiable and as such it is payable to the payee named therein.
Parties involved in the Pay Order
Purchaser: Purchaser is a person, firm, company, Government/Semi Government Organization
or local authority.
Issuing/Paying Branch:
These issues/pays on presentation of the instrument.
Payee:
Payee is the person named on a bill to whom, or to whose order, payment is to be made. Where a
bill is not payable to bearer, the payee must be named or otherwise indicated therein with
reasonable certainly.

3.8.3 Term Deposit Receipt

Term Deposit Receipt is basically used for the saving purpose, and it is also use for transfer
purpose, which means amount moves from one account to another account, in term deposit receipt
specific time period is mentioned and during this particular period no one can withdraw this
amount from his account, so when we talk about some specific time period it may be three months,
six months three years etc basically it depends open on customer according to his desire I made
this Term deposit receipt. Term Deposit Receipt is basically a profit oriented instrument, because
customer deposits his money for specific period of time and on behalf of this bank will pay some
percentage of profit which depends upon the amount of deposit higher the deposit higher will be
the percentage of profit.
Basically TDR is profit oriented instrument so that’s why zakat is also applicable on it, no
commission is charged on this term deposit receipt.

3.8.4 Call Deposit Receipt

CDR is just like a hard cash, basically CDR is used for transfer purpose means amount transfer
from one account to another account, CDR is used for Bidding purpose or some time government
introduces different housing scheme and here he mentioned that you must submit the CDR instead
if net cash, but in now a days when the government of Pakistan impose .2% withholding tax of the
amount which is withdrawal over RS.25000/- in a day
3.8.4.1 Issuance of Call Deposit Receipt
Receive the request letter from customer and also receive the cheque and verify this cheque weather
this post dated, stale cheque or not and also check the sign verification of this customer which is
mentioned on this cheque and compare with signature card which is scanned in computer.
Than send this cheque for posting here and see that is it enough amount in his account which he
written down on this cheque, if yes than further processing.

3.8.4.3 Maintenance of Records of CDR

For the purpose of maintenance of CDR record I used the CDR register. This register uses to write
down the following things
➢ Date of Deposit
➢ Deposit number i.e. 58/10
➢ Deposit Receipt i.e. 770012
➢ Depositor name
➢ Account number
➢ Due Date (At Call)
At Call means that the bank will provide the same amount to the customer who made this CDR at
any time.
Payment procedure of Call Deposit Receipt
The customer whose name, account number is mentioned on this CDR he is only person who can
take this amount through his account not in counter payment. Basically CDR is mostly used for
transfer purpose that’s why his payment is made only through account.

3.9 Clearing
“Fund transfer between two banks and branches is called clearing”
There are two types of clearing
➢ Outward clearing
➢ Inward clearing
Outward clearing
“Outward clearing is to send the cheques to other branch”
There are three types of outward clearing
1. Same day clearing
2. Normal clearing
3. Inter city clearing
1. Same day clearing
In same day clearing send the cheque in the morning and receive the payment in the evening,
There are two conditions in the same day clearing
• Cheque will be 500000 or above
• Member of the same day
2. Normal clearing
In normal clearing send the cheque today and receive the payment next day. No condition will
impose in normal clearing like same day clearing.
3. Inter city clearing
Clearing between two cities is called intercity clearing. In intercity clearing cheque will clear in
two or three days.
To understand the process of clearing we first need to understand and comprehend the workings
and the purpose of the state banks institution called NIFT.

3.10 Lockers
Basically it is a facility which is provided by the bank to its customers in order to secure there
money gold important property documents etc. before this locker concept people are very much
worried about the loss of their money, gold and important documents so now the people are very
much relax because now they use this facility quite frequently.

3.10.1 Issuance of License

It is not an easy task to get the license of opening the locker facility in the branch for every bank,
for this purpose the bank should get permission from State Bank of Pakistan who is the banker’s
bank; without his permission nobody can provide this facility to the customers. The branch who
wants to get license he must sent a written request letter to State Bank than the state bank officer
visit this branch and see that is there enough place to provide the license of lockers to this branch
or not? If they are satisfy they charge the license fee from this branch.

3.10.2 Types of Lockers

Small Size (Rent RS 4000 per Annum) 16% FED Rs.224 (Key Security Rs.2000)
Medium Size (Rent RS 6000 per Annum) 16% FED Rs.352 (Key Security Rs.2000)
Large Size (Rent RS 8000 per Annum) 16% FED Rs.560 (Key Security Rs.2500)

3.10.3 Insurance of Lockers

Bank will also pay the insurance on behalf of this lockers so in case of any bank misshape then the
insurance company will accept the certain claim but it depends open the size of the lockers
Small Size Locker Claim up to RS 500,000/- Medium
Size Locker Claim up to RS 10, 00,000/-
Large Size Locker Claim up to RS 15, 00,000/-

3.10.4 Renewal / Expiry of Lockers

Usually the time period of this facility is one year, at the end of the time period the bank will ask
to the client that weather he will continue this facility or not if the customer says yes then he will
pay the charges again in order to use this facility which is provided by the bank.
Procedure of Use of Lockers
One key is given to the customer and the other key is handed over to any bank person who is the
authorized person, and the locker is opened with both keys.
The authorized person who keeps keys He /She note following things
➢ Customer name
➢ Signatures of customers
➢ Time of lockers operating
➢ Account number ➢ Leaving time

Personal Observation

➢ Dressing (Suiting)
 ➢ Regularity
➢ Punctuality
➢ Account Opening
➢ Account Closing
➢ Account activation
➢ Stop Payment
➢ Interaction with peoples & professional
➢ Issuance of Cheque Book
➢ Remittance
➢ Clearing
➢ Counter services
➢ Symbols software
➢ Facing stress environment

Chapter # 4 Financial Analysis of ASKARI Bank Ltd

4.1 Horizontal Analysis

ASKARI Bank Limited
Balance Sheet
As on 31st December
 2021 2022 (2021/2022)/2022
Assets

Cash and balances with treasury banks 32,465,976 39,683,883 22%

Balances with other banks 6,577,017 3,807,519 -42%
Lending to financial intuitions 21,081,800 1,051,372 -95%
Investments 63,486,316 113,089,261 78%
Advances 198,239,155 218,960,598 10%
Operating fixed assets 9,054,156 16,024,123 77%
Deferred tax assets 172,373 -100%
Other assets 11,031,450 17,868,761 62%

342,108,243 410,485,517 20%

Liabilities

Bills payable 48% 7,089,679 10,479,058

Borrowings 65% 23,943,476 39,406,831
Deposits and Other accounts 13% 257,461,838 292,098,066
Sub-ordinated loans -70% 1,597,440 479,232
Deffered tax liabilities 1,180,162

Other liabilities 5% 11,171,496 11,722,493

301,263,929
355,365,842 18%

Net assets 40,844,314 55,119,675 35%

Represented by:
Share capital 5,463,276 6,282,768 15%
Reserves 24,662,426 34,000,638 38%
Unappropriateed profit 5,530,973 5,130,750 -7%

35,656,675 45,414,156 27%

Surplus on revaluation of assets 5,187,639 9,705,519 87%

40,844,314 55,119,675 35%

 ASKARI Bank Limited
Profit and Loss Account
As on 31st December
(2021-
2021 2022 2022)/2022

Markup/ return/ interest earned 25,778,061 31,786,595 23%

Mark up/ return/ interest expense 4,525,359 7,865,533 74%
Net mark up/ interest income 21,252,702 23,921,062 13%

Provision for dimininution H52in the value of

investment 121,197 105,269 -13%
Provision against loans and advances 1,014,540 2,959,583 192%
Bad debts written off directly 47,000 199 -100%

Net mark up/interest income after

provisions 20,069,965 20,856,011 4%

Non mark up/interest income

Fee, commission and brokerage income 2,311,235 2,634,610 14%

Dividend income 811,801 632,300 -22%
Income from dealing in foreign currencies 692,010 693,408 0%
Gain on investment 605,865 1,500,865 148%
Unrealized gain/ loss on revaluation of
investment -13,105
Other income 570,505 563,213 -1%
Total non mark up interest income 4,991,416 6,011,291 20%

Total non mark up/ interest expense 6,560,711 5,559,267

Income after interest income 25,061,381 26,867,302 7%

Non mark up/interest expense

Administrative expenses 6,482,592 5,022,416 -23%

Other proposition/write off 11,411 -3,743 -133%
Other charges 66,708 540,594 710%

Profit before taxation 18,500,670 21,308,035 15%

Taxation-Current year 5,701,443 6,442,356 13%

Prior years 593,497 -1,294,473 -318%
Defferd 63,332 894,590 1313%

Profit after taxation 12,142,398 15,265,562 26%

Inappropriate profit brought forward 4,990,260 5,530,973 11%

Transfer from surplus on revaluation of fixed

assets 32,166 11,855 -63%
 -15%
5,022,426 5,542,828
10%
Profit available for appropriation 17,164,824 20,808,390 21%
Basic/diluted earning per share 23.4 24.3 4%

4.2 Vertical Analysis

ASKARI
Bank Limited
Balance Sheet
As on 31st December

2021 Vertical 2022 vertical

Assets

Cash and balances with treasury

banks 32,465,976 79.5% 39,683,883 72.0%

Balances with other banks 6,577,017 16.1% 3,807,519 6.9%

Lending to financial intuitions 21,081,800 51.6% 1,051,372 1.9%

Investments 63,486,316 155.4% 113,089,261 205.2%

Advances 198,239,155 485.4% 218,960,598 397.2%

Operating fixed assets 9,054,156 22.2% 16,024,123 29.1%

Deferred tax assets 172,373 0.4%

Other assets 11,031,450 27.0% 17,868,761 32.4%

342,108,243 837.6% 410,485,517 744.7%

Liabilities
 Bills payable 7,089,679 17.4% 19.0% 10,479,058
Borrowings 23,943,476 58.6% 71.5% 39,406,831
Deposits and Other accounts 257,461,838 630.3% 529.9% 292,098,066
Sub-ordinated loans 1,597,440 3.9% 0.9% 479,232

Deffered tax liabilities 2.1% 1,180,162

11,722,493
Other liabilities 11,171,496 27.4% 21.3%
301,263,929 737.6% 355,365,842 644.7%

Net assets 40,844,314 100.0% 55,119,675 100.0%

Represented by:

Share capital 5,463,276 13.4% 6,282,768 11.4%

Reserves 24,662,426 60.4% 34,000,638 61.7%

Unappropriateed profit 5,530,973 13.5% 5,130,750 9.3%

35,656,675 87.3% 45,414,156 82.4%

Surplus on revaluation of assets 5,187,639 12.7% 9,705,519 17.6%

40,844,314 100.0% 55,119,675 100.0%

ASKARI Bank Limited

Profit and Loss Account

As on 31st December
2021 vertical 2022 vertical

Markup/ return/ interest earned 25,778,061 212.3% 31,786,595 208.2%

Mark up/ return/ interest expense 4,525,359 37.3% 7,865,533 51.5%
Net mark up/ interest income 21,252,702 175.0% 23,921,062 156.7%

Provision for dimininution H52in the value of

Total non mark up interest income 4,991,416 41.1% 6,011,291
investment 121,197 1.0% 105,269 0.7%
Provision against loans and advances 1,014,540 8.4% 2,959,583 19.4%
Bad debts written off directly 47,000 0.4% 199 0.0013%

Net mark up/interest income after

provisions 20,069,965 165.3% 20,856,011 136.6%

Non mark up/interest income

Fee, commission and brokerage income 2,311,235 19.0% 2,634,610 17.3%

Dividend income 811,801 6.7% 632,300 4.1%
Income from dealing in foreign currencies 692,010 5.7% 693,408 4.5%
Gain on investment 605,865 5.0% 1,500,865 9.8%
Unrealized gain/ loss on revaluation of investment -13,105 -0.1%
Other income 570,505 4.7% 563,213 3.7%
39.4%
 5,559,267

Income after interest income 25,061,381 206.4% 26,867,302 176.0%

Non mark up/interest expense

Administrative expenses 6,482,592 53.4% 5,022,416 32.9%

Other proposition/write off 11,411 0.1% -3,743
Other charges 66,708 0.5% 540,594 3.5%
Total non mark up/ interest expense 6,560,711 54.0% 36.4%

Profit before taxation 18,500,670 152.4% 21,308,035 139.6%

Taxation-Current year 5,701,443 47.0% 6,442,356 42.2%

Prior years 593,497 4.9% -1,294,473 -8.5%
Defferd 63,332 0.5% 894,590 5.9%

Profit after taxation 12,142,398 100.0% 15,265,562 100.0%

5,022,426

5,542,828

Inappropriate profit brought forward 4,990,260 41.1% 5,530,973 36.2%

Transfer from surplus on revaluation of fixed

assets 32,166 0.3% 11,855 0.1%
41.4% 36.3%
Profit available for appropriation 17,164,824 141.4% 20,808,390 136.3%
Basic/diluted earning per share 23.4 24.3

4.3 RATIO ANALYSIS

4.3.1 PROFIT TO DEPOSIT RATIO
PROFIT / INTEREST
PROFIT / INTEREST TO DEPOSIT RATIO
DEPOSIT
2021 2022
Profit 15,265,562 12,142,398
Deposit 292,098,066 257,461,838
Ratio (%) 5.2% 4.7%

• This ratio is expressing the positive trend in 2021.

• Deposited increased and profit on deposits also increase.
4.3.2 RETURN ON AVERAGE EQUITY (ROE)

NET PROFIT AFTER TAX

RETURN ON EQUITY CAPITAL RATIO
EQUITY CAPITAL

2021 2022
Profit After Tax 15,265,562 12,142,398
Equity Capital 45,414,156 35,656,675
Ratio (%) 33.61% 34.05%

• It is negative trend as compare to 2013.

• Equity Capital increased in 2014 but return is very low.

4.3.3 RETURN ON AVERAGE ASSETS (ROA)

RETURN ON ASSETS RATIO = NET PROFIT AFTER TAX
AVERAGE ASSETS
 2021 2022
Profit 15,265,562 12,142,398
Average Assets 410,485,517 342,108,243
Ratio (%) 3.7% 3.5%

• Increasing trend in 2014 of return on assets.

• Profit margin increase in 2014 as compare to 2013
4.3.4 FIXED DEPOSIT TO TOTAL DEPOSIT RATIO
FIXED DEPOSIT TO TOTAL DEPOSITS RATIO = FIXED DEPOSIT
TOTAL DEPOSITS

2021 2022
Fixed Deposits 43,578,126 42,589,457
Total Deposits 292,098,066 257,461,838
Ratio (%) 14.9% 16.5%

Fixed Deposits are more than 2018.

Total Deposits are also more than 2018. But with decreasing ratio
It is not good trend

4.3.5 PROFIT TO ADVANCES RATIO

INTEREST / PROFIT
INTEREST / PROFIT TO ADVANCES RATIO
ADVANCES
 2021 2022
Profit 15,265,562 12,142,398
Advances 218,960,598 198,239,155
Ratio (%) 6.97% 6.12%

• Profits are more in 2015 as compare to 2014.

• Advances Increases in 2015 It good trend.

4.3.6 ADMIN EXPENSES TO DEPOSIT RATIO

ADMIN EXPENSE
ADMIN EXPENSE TO DEPOSITS RATIO
TOTAL DEPOSITS

2021 2022
Admin Expenses 5,022,416 6,482,592
Deposit 292,098,066 257,461,838
Ratio (%) 1.71% 2.51%

• Admin expenses are less as compare to 2013

• Deposits increases in 2014
• Its over all good trend

Chapter # 5 SWOT ANALYSIS

STRENGTHS
➢ ASKARI Bank is Successive and Market oriented.
➢ ASKARI Bank investing huge sums on HR development and training.
➢ Customer default rate is lower as compared to other banks.
 ➢ ASKARI Bank has the largest ATM network in the country.
➢ Meeting the challenges of latest Technology by introducing Smart card remit express,
mobile banking etc.
➢ One of the major strengths of ASKARI Bank is that it has very stable deposit base.
➢ ASKARI Bank is largest private bank in Pakistan with around 261 branches, which cover
almost every part of Pakistan.
➢ The bank enjoys competitive advantage over other banks in Pakistan.
➢ The bank enjoys competitive profitability in the industry.
➢ ASKARI Bank has captured majority of potential customers in Pakistan.
➢ ASKARI Bank has the accounts of big organizations like OGDCL, PTCL, EFU, PTC etc.

WEAKNESSES
➢ Low motivational level
➢ Employees, dissatisfaction due to ill treatment and improper reward system.
➢ Favoritism and Nepotism in recruitment.
➢ High Employees Turnover.
➢ Decision making process is very slow.
➢ It is not having greater no. of branches abroad.
➢ Though ATM network is the largest in Pakistan, still some potential areas don’t have the ATM. ➢
ASKARI Bank RTC is useable only in Pakistan.
➢ Some management positrons needed are not professional.
➢ Although most of the branches are computerized now, still some important branches don’t
have computers.
➢ Less efficiency of SYMBOL System due to disconnectivity

Opportunities
➢ Leasing sector is growing in Pakistan for the last two to three years which provides
opportunity to ASKARI Bank to go ahead in this area as well.
➢ ASKARI Bank is providing Consumer Finances at comparatively lower rates which paves
a way to grab more customers
➢ Financing to small/medium cottage industries will definitely increase its advances and
profitability as well.
 ➢ Islamic Trading Based Banking can enhance the business of the bank.
➢ Overseas Operations.
➢ Launch the more effective and modern banking online system.

THREATS

➢ For the last of many years, Pakistan is facing economic and political instability which is a
big threat.
➢ Afghan war and Iraq war has a deep effect on the economy of Pakistan, which may affect
ASKARI Bank.
➢ Foreign banks are flourishing in field of consumer financing.
➢ People don’t prefer banking culture. They mostly prefer cash transactions

CONCLUSIONS

At the completion of the business internship the internee draws the following:

1. It appears a lengthy process of sanctioning.

2. It looks the staff members are not properly trained.

3. It seems that the promotions are not given in the due time.
4. It appears that large amount paid on administration cost.

5. It shows that there is lack of recovery system.

6. It seems that there is no net working.

7. It seems that there shall be a great the rush days for the customers as well as for the staff
members if the no of counter are limited or very few.

8. It might not be possible for every borrower to repay the money in due time.

Chapter # 6 RECOMMENDATIONS

On the basis of conclusion internee draws the following suggestions.

1. It is suggestion that the process should be short in order in save time money energy and
stationary etc.

2. It is proposed that proper training be provided to the staff members that will ultimately increase
the performance of Bank over all.

3. It is advised that promotion be given in due time because of interest to work satisfactory.
4. It is consulted that bank should reduce its large expenses in order to increase the value of bank.

5. It is suggested that reasonable steps should be taken to recover all absolute advances.

6. The ASKARI should introduce the use of computers in order to confront with the hectic business
activities. It will also help to reduce the extra load of manual work.

7. Extra counters should be brought in order to facilitate during the rush days the difficulties faced
by the bank staff as well as the customers.

8. The period of repayment of the loans should be extended.

Abbreviations

ATM Automatic Teller Machine

FED Federal Excise Duty
WHT with Holding Tax
TDR Term Deposit Receipts
CDR Call Deposit Receipts
PBA Personal Banking Advisor
BBA Basic Banking Account
PLS Profit and Loss A/C
TD Term Deposit
AOF Account opening Foam
AMO Account maintenance officer
KYC Know your customers
SSC Specimen Signature card
GBO General banking officer
ICO Internal control officer
CSO Customer service officer
DD Demand Draft
PO Pay Order
FTA Fund Transfer Application
CPD Central Processing Division
NIFT National Institute of Facilitation Technology
TDR Term Deposit Receipt
RTC Rupee Travel Cheque
IBC Inward Bills for Collection
OBC Outward Bills for Collections
MO Main Office
HO Head Office

9.1 References

• Introduction: https://askaribank.com

• Vision / Mission: http://askaribank.com.pk/mission_vision.asp

• Internship Activities:

BM (Mr. Ghulam Fareed Mallah)

BOM (Mr. Kashif Soomro)
CSO (Madam Safina Memon)
• Financial Statement: Google.com.pk
• Annual Report of ASKARI for the year 2022.
• Final accounts for the year 2022 of ASKARAI published on net.