Internship Report on Askari Bank by Linky City

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Transcript of Internship Report on Askari Bank by Linky City

INTERNSHIP REPORT

BANKING IN PAKISTANMonetary policy and banking system play an important role in the development of all economic fields of the country because necessary finances for completion of economic plans are provided by them. therefore an organize banking system and the financial institutions plays an active role in this matter. The stable an organize banking policy is much effective to improve the level of saving and consequently the level of investment. The monitory policy is adopted and controlled by the bank but its success depends upon the cooperation of commercial banks. availability of the credit is a big problem for LDCs. The shortage of supply of capital can be improved better and organized banking system because the banks can increasing the saving through launching the various attractive schemes in various productive sectors banks also produce credit money and through this way resources are supplied to productive sectors of the country.

KINDS OF BANKS:In Pakistan following types of banks are operating in the business circle like economics.

COMMERCIAL BANKS:These banks are set up on commercial basis. Therefore, their primary objective is to earn profit And maximize it is far as possible. For this they received cash deposits from the people in different accounts. They give loans to different business enterprises and thereby create credit money. The State Bank of Pakistan is the central bank of Pakistan, Commercial Banks, financial institutions and cooperative banks are the other components of the banking system.

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AGRICULTURAL BANKThese banks are provide long term and short term credit facilities to landlords and tenant farmers.

INDUSTRIAL BANKThese banks are medium and long term loans to industrialists to set up new industries for the extension of industries already in operation.

MORTGAGE BANKSThese banks provides the loans to the people against their moveable and immoveable property.

EXCHANGE BANKSThese banks deal in foreign exchange. They provide credit to importers and exporters by discounting foreign bills of exchange.

SAVING BANKSThese banks are set up to induce the people to accumulate their small saving in these banks.

CENTRAL BANKSEach country in the world has its own central bank. This bank does not deal with public directly. This means that it neither receives cash deposits from the people nor its give them loans. Therefore it is not a profit making institution.

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Askari Bank was incorporated on October 09, 1991 as a Public Limited Company and is listed on the Karachi, Lahore and Islamabad Stock Exchange. It started its operations from April 01, 1992. The bank was declared as Best Bank in Pakistan in 2001 in Global Finance. The banks registered office/Head Office is situated in AWT Plaza, The Mall, P.O.Box No. 1084, Rawalpindi, (Pakistan). Askari Bank Limited has expanded into a nation wide presence of over a 100 branches, comprising commercial and Islamic banking branches, connected online and supported by a network of Automated Teller Machines (ATMs). It also enjoys an offshore banking unit in Bahrain. Over the years, Askari Bank Limited has proven its strength as a leading banking sector entity with ever increasing commitment to its clients, through a strategic investment in electronic technology. It has A1+, the highest possible credit rating, for short-term obligation, and AA+ for long-term rating. Beside day-by-day banking solutions, Askari Bank Limited has a wide range of Corporate, Consumer, and Islamic Banking products. Askari Commercial Bank Limited was the first bank in Pakistan to offer Internet banking Services and B2B e-commerce (Business to Business electronic Commerce) solutions for merchants looking to purchase on credit. They believe that balanced growth is the key to survive in the todays global banking environment.

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Mission Statement: The mission statement of the bank is To be the leading private sector bank in Pakistan with an international presence, delivering innovative progressive quality services and through effective of technology organization

resource management in a modern and culture meritocracy, maintaining high ethical and professional standards, while providing enhanced value to all their stakeholders, and contributing to society

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Core Values: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. We believe in our 'core values' as the essential and enduring tenets of our organization - the very small set of guiding principles that have a profound impact on how everyone in the organization thinks and acts. They have an intrinsic value for us and bear significant importance to all our employees. They are the few extremely powerful guiding principles; the soul of the organization - the values that guide all our actions. The intrinsic values, which are the corner stones of our corporate behavior, are:

Commitment Integrity Fairness Team-work Service

Vision:To be the Bank of first choice

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INTERNSHIP REPORTCORPORATE PHILOSOPHY:I n s p i r i n g R e l a t i o n s h i p s

From knowing our customers requirements to understanding employee needs, from utilizing modern technology to making responsible social contributions, from enhancing stake-holders value to practising corporate ethics.... We are continuously and consistently striving to address newer challenges with a single motivation: the power to inspire and be inspired

OBJECTIVES: Deliver solutions that meet customer financial needs. Build and sustain a high performance culture. Build trusted relationships with all stakeholders. Build and manage the Banks portfolio of business to achieve strong and sustainable shareholder return. Create and leverage strategic assets and capabilities for competitive advantage.

To facilitate the bank with modern banking technique.

To accelerate commercial activities and capture large market share.

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Corporate Information

Lt. Gen. Imtiaz Hussain (HIM)Chairman

Lt. Gen. (R) Zarrar Azim

Chairman Executive Committee

President

Mr. Shaharyar Ahmad

& Chief Executive

Brig (R) Muhammad Shiraz BaigDirector

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Brig (R) Asmat Ullah Khan NiaziDirector

Brig (R) Muhammad Bashir BazDirector

Brig (R) Shaukat Mahmood ChaudhariDirector

Mr. Zafar Alam Khan SumbalDirector

Mr. Kashif Mateen AnsariDirector

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Mr. Muhammad Najam Ali Mr. Muhammad Afzal Munif Mr. Tariq lqbal Khan Director Mr. A.J.Mubbashar Audit CommittyDirector Director (NIT Nominee) Company Secretary

Brig (R) Asmat Ullah Khan Niazi Chairman Brig (R) Muhammad Shiraz Baig Member Mr. Kashif Mateen AnsariAuditors

Member

A.F.Ferguson & Co.Legal Advisors

Chartered Accountants

Rizvi, Isa, Afridi & AngellRegistrar & Share Transfer Office

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INTERNSHIP REPORT M/s THK Associates (Private) Limited, Ground Floor, State Life Building # 3, Dr. Ziauddin Ahmad Road, Karachi 75530 P.O.Box No. 8533, Karachi. Tel : Fax: (021) 5689021, 5686658, 5685681 (021) 5655595

Registered Office /Head Office

AWT Plaza, The Mall, P.O.Box 1084, Rawalpindi. Tel : Fax: (051) 9063000 (051) 9272455

Website: http://www.askaribank.com.pk/

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Executive Profiles

Mr. Agha Ali Imam- Senior Executive Vice PresidentM.R Mehkari - Senior Executive Vice President Suhail Ahmad Rizvi- Executive Vice President Mr. Nazimuddin A. Chaturbhai, Senior Executive Vice President Malik Asad Ali Noon, Executive Vice President Mr. Tahir Aziz, Executive Vice President Mr. Israr Ahmed, Executive Vice President Mr. Riaz Khan Bangash, Senior Vice President Mr. Nauman Bashir Khan, Senior Vice President Mr. Muhammad Ahmed Khan-Senior Vice President

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Branch Network.

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Product and services:Personal Finance

Personal Finance is a parameter driven product for catering to the needs of the general public belonging to different segments. One can avail unlimited opportunities through Askari Bank's Personal Finance. With unmatched finance features in terms of loan amount, payback period and most affordable monthly installments, Askari Bank's Personal Finance makes sure that one gets the most out of his/her loan. Once a good credit history is established, the door to opportunity opens much wider. 13

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Mortgage Finance

Askari "Mortgage Finance" offers the convenience of owning a house of choice, while living in it at its rental value. The installment plan has carefully designed to suit both the budget & accommodation requirements. It has been designed for enhancing financing facility initially for employees of corporate companies for purchase/ construction/ renovation of hous