askari report

8/9/2019 Askari Report

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Internship Report: ASKARI Commercial Bank

Table of Contents

Executive Summary...........................................................................................................5CHAPTER 1.......................................................................................................................6Introduction........................................................................................................................6

Banking Hitory..............................................................................................................6Hitory o! Akari Bank........................................................................................................"

#otivation o! Akari Bank..............................................................................................."CHAPTER $.....................................................................................................................11#iion Statement...........................................................................................................11%iion................................................................................................................................11Core %a&ue......................................................................................................................11'()ective o! Akari Bank................................................................................................11

Ho* C+a&&enge *i&& (e de&ivered..................................................................................1$CHAPTER ,.....................................................................................................................1,'rgani-ation 'rganogram.............................................................................................1,

#anagement Sty&e...........................................................................................................1/Cor0orate Banking and inancia& Intitution 2rou0.....................................................1/

Cor0orate and #erc+ant Banking 3iviion...............................................................1/Internationa& 3iviion................................................................................................1/Treaury....................................................................................................................15

Retai& Banking 2rou0...................................................................................................15Invetment Product 4nit.......................................................................................15

Aet Product 4nit..............................................................................................16Credit Card 3iviion................................................................................................16

'0eration and Credit 2rou0.......................................................................................16Sytem and '0eration 3iviion............................................................................1

E&ectronic Tec+no&ogy 3iviion.................................................................................1Credit 3iviion..........................................................................................................1HR Human Reource7 3iviion...............................................................................1"inance 3iviion.......................................................................................................1"

Audit 3iviion............................................................................................................18Regiona& Area................................................................................................................$9CHAPTER /.....................................................................................................................$1Code o! Buine Princi0&e............................................................................................$1

Cor0orate P+i&oo0+y...................................................................................................$1Cutomer Re&ation+i0...............................................................................................$$Em0&oyee Re&ation+i0..............................................................................................$$

Tec+no&ogica& Innovation..............................................................................................$,Et+ica& %a&ue...............................................................................................................$,Cor0orate Citi-en+i0...................................................................................................$/2ro*t+..........................................................................................................................$/Cor0orate Ac+ievement...............................................................................................$5

#anageria& Po&icie..........................................................................................................$6inancia& Po&icie.........................................................................................................$6

Source o! und.......................................................................................................$6

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4e o! und............................................................................................................$6Procurement Po&icie...................................................................................................$#arketing Po&icie........................................................................................................$Promotiona& Po&icie.....................................................................................................$":ending Po&icie...........................................................................................................$"Perona& Po&icie..........................................................................................................$8

CHAPTER 5.....................................................................................................................,93e0artment....................................................................................................................,92enera& Banking 3e0artment.....................................................................................,9

Account '0ening 3e0artment..................................................................................,9Remittance 3e0artment...........................................................................................,/Ca+ 3e0artment.....................................................................................................,5C&earing 3e0artment................................................................................................,6'n&ine Banking........................................................................................................./9:ocker...................................................................................................................../1oreign Trade 3e0artment......................................................................................./1

Credit 3e0artment......................................................................................................../"

T+e ;ature o! 3e0artment......................................................................................../"T+e Bai o! Credit.................................................................................................../"Ty0e o! Credit........................................................................................................./8Ty0e o! Credit Intrument.....................................................................................59

CHAPTER 6.....................................................................................................................5$Product and Service.....................................................................................................5$

3e0oit.......................................................................................................................5$Current Account........................................................................................................5,Saving Account.......................................................................................................5,

Advance......................................................................................................................5,unded !aci&itie........................................................................................................5,

;on< unded !aci&itie...............................................................................................5,'t+er Product.............................................................................................................5/Perona& inance......................................................................................................5/#ortgage inance.....................................................................................................5/Buine inance.....................................................................................................5/

AS=CarCar inance7..............................................................................................55AS=Card...................................................................................................................55Trave&&er C+e>ue....................................................................................................55

AS=Po*er................................................................................................................55%a&ue P&u.................................................................................................................56Com0&imentary CIP and RA?A: :ounge aci&itie.................................................56

Agricu&ture inance...................................................................................................5=ian arm #ec+ani-ation.....................................................................................5"=ian arm Tran0ort !inance................................................................................5"

CHAPTER .....................................................................................................................58S?'T Ana&yi................................................................................................................58

Strengt+......................................................................................................................58:eading Private Sector Bank....................................................................................58

Automatic '0eration...............................................................................................58

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u&& 3ay Banking......................................................................................................58AT# ;et*ork............................................................................................................58Cutomi-ed So&ution...............................................................................................58Cutomer 'riented Banking.....................................................................................69E&ectronic Banking....................................................................................................69E&ectronic und Tran!er........................................................................................69

P+one Banking.........................................................................................................69Et+ica& Concern And Pu(&ic Image.........................................................................69?eaknee.................................................................................................................69

;ot Hig+&y Automated...............................................................................................61#anua& Bookuity R'E7...........................................................................................1

S+are In!ormation.........................................................................................................$Earning 0er S+are EPS7........................................................................................$

Ana&yi....................................................................................................................$CHAPTER 8.....................................................................................................................,Intern+i0 Activitie..........................................................................................................,

Branc+ :eve& Hierarc+y................................................................................................,Intern+i0 Ex0erience................................................................................................/

irt ?eek................................................................................................................./Second ?eek...........................................................................................................6T+ird ?eek..............................................................................................................."ourt+ ?eek............................................................................................................."9i!t+ ?eek.................................................................................................................",Sixt+ ?eek................................................................................................................"/

3i!!icu&tie aced.........................................................................................................."5Conc&uion and Recommendation..............................................................................."6

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REERE;CE...................................................................................................................""Pu(&i+ed Re!erence..................................................................................................""'n&ine Re!erence.......................................................................................................""Peronne& Re!erence..................................................................................................""

Annexure.........................................................................................................................."8

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SBP has prescribed the Askari Bank Ltd. For me. I had completed my

internship in the Askari Bank abdali road. I worked at various department of

the bank. Such as In account opening department accounts department

cash department and did some work at clearing and remittances

department. !he working environment at Bank was very good. !he staff was

very cooperative and friendly. I had learn a lot form the bank and observe

the marketing system of this bank i.e. how it works and to what e"tent it is

successful. I spent most of my time during internship in account opening

department where I interact with people and know how to deal with

customer. And also about the working and procedure of the account opening.

I also stamped all the documents of account opening form# I dispatched the

account opening form in a file. !hrough this internship I learn about the

marketing system of this bank i.e. how it works and to what e"tent it is

successful. $ith this internship I enhance my intellectual skills. I deal with

customer and help those customers who are confused help them in such a

way by filling credit or debit slips. In cash department I sort out the cash

and count the cash. In accounts department I had filling different reports. I

also check the daily activity such as online customer and %L. In clearing

department I clear the che&ues I stamped the che&ues. 'aintaining good

relationship with the customer has polished my interpersonal skills and

resolving customer(s Problems give them a feeling that the company

employees care for them. I used to maintain the record of each che&ues

book and A!' issued both on the registered. I also used to place the

document on their proper file.

Executive Summary

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CHAPTER 1

Introduction

Banking HistoryBanking History

T+e *ord Bank i o! a Euro0ean origin and i derived !rom t+e Ita&ian *ord BA;C'D

*+ic+ mean a ta(&e or a counter. Bank i a !inancia& intitution &icened (y a

government. It 0rimary activity i to &end money. #any ot+er !inancia& activitie *ere

a&&o*ed over time. or exam0&e (ank are im0ortant 0&ayer in !inancia& market and

o!!er !inancia& ervice uc+ a invetment !und T+e &eve& o! government regu&ation o!

t+e (anking indutry varie *ide&yD *it+ countie uc+ a Ice&andD t+e 4nited =ingdom

and t+e 4nited State +aving re&ative&y &ig+t regu&ation o! t+e (anking ectorD and

countrie uc+ a C+ina +aving re&ative&y +eavier regu&ation inc&uding tricter

regu&ation regarding t+e &eve& o! reerve7.

1947, banking in Pakistan was dominated by branches of British banks. The State Bank of

Pakistan, the central bank, was formed after partition in 194. !t ass"med the s"per#isory and

monetary policy powers of the State Bank of !ndia. !n the period of $%s to 7%s the emergence of

a n"mber of speciali&ed de#elopment finance instit"tions '()!s* s"ch as !nd"strial (e#elopment

Bank of Pakistan '!(BP* and the +gric"lt"ral (e#elopment Bank '+(B*. These ()!s were

either controlled directly by the state or thro"gh the SBP, and were intended to concentrate on

specific priority sector lending. !n 1974 all domestic commercial banks were nationali&ed by the

o#ernment. The Pakistan Banking -o"ncil was established, which ass"med the role of a

banking holding company b"t with limited s"per#isory powers. owe#er, PB- was dissol#ed in

1997, lea#ing the SBP as the sole reg"latory a"thority for banks and financial instit"tions in

Pakistan. /ationali&ation of the banking sector led to pet pro0ects. The the branch network of

/-Bs also proliferated in an effort to pro#ide banking ser#ices to all regionsterritories of the

co"ntry, often with disregard to the #iability or feasibility of s"ch e2pansion

T+e (anking ector i categori-e in di!!erent categori-e centra& commercia& indutria&

and invetment (ank. Centra& (ank i (anker o! a&& (ank and regu&ate t+e monetary

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0o&icy. Commercia& Bank uua&&y acce0t de0oitD make (uine &oanD and o!!er

re&ated ervice. Agricu&ture (ank 0rovide t+e &oan !or agricu&ture.

History of Askari Bank

T+e (anking ector +a *itneed a dramatic c+ange during t+e &at ten year *it+ t+e

deve&o0ment o! Akari BankD *+ic+ i not on&y rede!ining 0rioritie and !ocu o! t+e

(ankD (ut a&o t+reatening t+e domination o! traditiona& 0&ayer.

BAN

Centra! "ank

Commercia! "ank

Exc#ange "ank

Industrial bank

Agriculture bank

Investment bank

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The story begins with the incorporation of +skari -ommercial Bank limited in Pakistan on

3ctober %9, 1991, +skari Bank -ommenced 'begin* to operations in +pril 199, as a p"blic

limited company. The bank is listed on the 5arachi, 6ahore and !slamabad Stock 2changes and

the initial p"blic offering was o#ers"bscribed by 1$ times.

?+i&e ca0turing t+e target market +are amongt t+e vie* (ankD Akari +a 0rovidedgood va&ue to it +are+o&der. It +are 0rice +a remained a00roximate&y 1$ +ig+er

t+an t+e average +are 0rice o! >uoted (ank during t+e &at !our year.

+skari Bank has e2panded into a nationwide presence of 8 Branches, and an 3ffshore Banking

nit in Bahrain. + shared network of o#er %% online +T:s co#ering all ma0or cities in Pakistan

s"pports the deli#ery channels for c"stomer ser#ice. +s on (ecember 81, %%4, the Bank had

e;"ity of looking

strategy in terms of +skari market emphasis. +s a res"lt, +skari de#eloped a geographically

di#ersified assets base instead of a concentration and hea#y reliance on b"siness in the ma0or

commercial centers of 5arachi and 6ahore, where most other banks ha#e their operational ead

offices.

$otivation of Askari Bank$otivation of Askari Bank

?hile s"ccessf"lly penetrating the key domestic markets thro"gh strategic e2pansion and

b"siness di#ersification they remain ali#e to the challenge emanating from the de#elopment in

the global financial markets@ the opport"nities and threats engendered by greater dereg"lation

and increased c"stomer e2pectations. These pro#ide them the impet"s 'moment* to make the best

"se of a#ailable reso"rces, incl"ding modern technologies, to meet the challenges ahead.

Hitorica&&yD Akari core marketing !ocu !or it aet (ae +a (een t+e midd&e and

u00er midd&e (uine +oue inc&uding *+o&ea&er and manu!acturer7 o0erating in

t+e &arge ur(an center o! PakitanD *+ic+ are 0rimari&y oriented to*ard !oreign trade.

T+i egment contitute igni!icant revenue to t+e (ank. T+e &ia(i&ity ide remain

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!ocued on t+e midd&e and u00er midd&e c&a retired and erving government and

armed !orce 0erona& and midbanking gro"p in "ly %%%, the mobile +T:As facility is first time started by

+skari commercial bank in %%= dedicated to ser#ing the "rban cons"mer market@ +skari is

committed to aggressi#ely market this segment. The strategy is to pro#ide their c"stomers with a

basket of inno#ati#e prod"cts to meet their #arying needs.

Akari Commercia& Bank i t+e on&y Private Sector (ank t+at +a (een a00roved (y t+e

?or&d Bank a a Partici0ating inancia& Intitution !or t+e 4SG $99 mi&&ion :ine o! Credit

anctioned aut+ori-ed7 to t+e 2overnment o! Pakitan !or t+e inancia& Sector

3ee0ening and Intermediation Pro)ect.

+skariCs emphasis on f"rther broadening its core foreign trade b"siness translated into handling a

higher #ol"me of 2port and !mport b"siness of


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CHAPTER %

$ission Statement

To (e t+e &eading 0rivate ector (ank in PakitanD *it+ an internationa& 0reenceD

de&ivering >ua&ity ervice t+roug+ innovative tec+no&ogy and e!!ective reource

management in a modern and 0rogreive organi-ation cu&ture o! meritocracyD maintain

Hig+ et+ica& and 0ro!eiona& tandardD *it+ 0roviding en+ance va&ue to a&& our

take+o&derD and contri(uting to ociety

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&ision

To (e t+e &eading (ank in t+e region...

Core &a!ues

T+e intrinic va&ueD *+ic+ are corner tone o! Akari cor0orate (e+aviorD are

)ommitment

Integrity

Fairness

!eam*work

Service

'"(ectives of Askari Bank

A Akari Bank &ook a+ead to t+e !uture (y moving t+roug+ t+e decade o! t+e 1889 it

e!!ort are guided (y a (road !rame*ork o! cor0orate o()ectiveD *+ic+ are a !o&&o*

Akari i committed to it identity o! ecurity trut and *i&& endure to u0+o&d

t+i image at a&& t+e time.

It *i&& endure to 0rovide it cutomer *it+ a many creative !inancia& ervice

and 0roductD a i re>uired. A today cutomer demand a 0ackage o! ervice

uited to +i 0articu&ar (uineD Akari 0&an to deve&o0 di!!erent and ne*

0roduct to cater to t+e cutomer demand. Akari (ank +a t+e trengt+ to (e a

market &eader.

Bank *i&& kee0 tanding and (y and deve&o0D it +uman ca0ita& (ae. It i

0&anning to 0rovide a&& t+e re>uired training to it ta!! to*ard ac+ieving a +ig+er

&eve& o! 0ro!eiona&im. Akari *i&& continue triving to (ui&d a trongD motivated

and dedicated *ork !orce *+ere tota& commitment *i&& (e to*ard cutomer

ati!action and *ea&t+y gro*t+ o! organi-ation. Akari (ank *i&& endure to 0rovide a com0etitive return to it +are+o&der and

*i&& trive to maximi-e it +are va&ue. T+e en+ancement in it ca0ita& and return

*i&& (e a continuou 0roce. Akari (ank i intereted in (eing one o! t+e mot

!inancia&&y via(&e intitution. So it &ay great em0+ai on gradua& (ui&ding u0 to

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a +ea&t+y de0oit mix. In t+e year a+eadD t+e (ank *i&& en+ance it !ocu on

gro*t+ t+roug+ o0erationa& e!!iciencyD creating trategic a&&iance deve&o0ing

*e&&ua&ity

40*ard riing a&e

CHAPTER *

'rgani+ation,s 'rganogram

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B'AR- '. -IRECT'RS

Executive Committee

President and C#iefExecutive

Interna! Audit

Cor0. Banking in. Int. 2rou0

'0erating andcredit grou0

Region Retai& Banking2rou0

Credit Card

Internationa&Credit Ra*a&0indi

JI&ama(ad AetProduct

P&anning and

Cor0orate a!!air

Treaury E&ectronicTec+no&ogy

;ort+ Invetment0roduct

HumanReource

Cor0orate and#erc+ant Banking

Sytem and'0eration

:a+ore inance

3ata Re0orting Eat

:ega& A!!air Sout+ I

Sout+ II

?et


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$anagement Sty!e

The bank basically works "nder three gro"ps named asE

1. -orporate banking and financial instit"tions gro"p

$. Retai& (anking grou0

,. '0eration and credit grou0.

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Cor/orate Banking and .inancia! Institution 0rou/Cor/orate Banking and .inancia! Institution 0rou/

T+i 2rou0 i re0oni(&e !or erving t+e need o! &arge cor0orate c&ient in 0u(&ic and

0rivate ectorD managing corre0ondent (anking re&ation+i0 and undertaking money

market tranaction. T+e 2rou0 i organi-ed in t+ree diviion name&y

Cor0orate and #erc+ant Banking 3iviionD

Internationa& 3iviion

And Treaury.

Cor/orate and $erc#ant Banking -ivision

T+i 3iviion i engaged in 0roviion o! !inancing !aci&itie to &arge cor0orate c&ient

inc&uding mu&tinationa&. Princi0a& activitie inc&ude yndicated &oanD guaranteeD and

*orking ca0ita& !inanceD under*riting and adviory ervice. T+e 3iviion +a 0&ayed anim0ortant ro&e in 0roviding deve&o0ment !inance !or t+e moderni-ation and ex0anion o!

t+e country core indutrie. Credit rik i *e&& diveri!ied *it+ ex0oure in ector &ike

!ue& energyD c+emica&D texti&e and !erti&i-er. T+ree unit +ave (een et


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Treasury

Re0oni(&e !or managing Bank &i>uidity and !oreign exc+ange tranactionD our

Treaury in one o! t+e mot active in t+e market. T+roug+ re0orted tranactionD

0urc+ae o! 2overnment 0a0er and !oreign exc+ange tradingD t+e 3iviion add

u(tantia&&y to t+e Bank utained earning.

Retai! Banking 0rou/Retai! Banking 0rou/

Retai& (anking grou0 *a !ormed in $999D t+i grou0 i re0oni(&e !or erving t+e

need o! t+e retai& market. ocuing on individua& conumer and ma&& and medium

i-e enter0rieD !or 0ur0oe o! 0roduct di!!erentiationD t+e grou0 i managed in t+ree

(uine arm.

Invetment 0roduct unitD

Aet 0roduct unitD

T+e credit card diviion.

Investment Products nits

Re0oni(&e !or deve&o0ing and managing (rand *+ic+ erve t+e invetment need o!

t+e conumer marketD t+i unit !ocue on de0oit mo(i&i-ationD 0roviion o! va&ue added

ervice (aed on modern tec+no&ogy and undertaking t+e centra&i-ed marketing and

advertiing !or t+e Bank. T+i unit i a&o active&y invo&ved in t+e ac>uiition (uine

and +a igneduidity on a&& time de0oit and !ree Privi&ege

Card mem(er+i0. T+e 4nit i a&o adminitering t+e a&e and ditri(utionD inc&uding

arrangement !or trategic 0artner+i0 a&&iance !or Akari< i


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oD (ut t+e need o! t+i egment +ave (ecome extreme&y divere. In order to utain

com0etitionD it i (ut im0erative to continue o!!ering innovative conumer credit

c+eme. ?it+ t+e &aunc+ o! Akari Bank Perona& inance an Akar auto


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$991D t+e diviion +a 0ro0oed evera& cot cutting initiative (aed u0on im0rovement

o! our exiting 0rocedure and documentation reduction. Seven ne* (ranc+e +ave

(een o0ened during t+i year. T+e diviion ucce!u&&y im0&ement t+e mode& (ranc+

conce0t during $991D *+ic+ +a (een 0roved to (e a mi&etone to*ard im0roving our

cutomer ervice tandard and ac+ieving 0roce uni!ormity *it+ o0timum reourceuti&i-ation.

E!ectronic Tec#no!ogy -ivision

T+i diviion o0erate a t+e (ack(one !or a&& o0erationa& !unction in t+e (ank.

Re0oni(&e 0rimari&y !or t+e deve&o0ment o! (anking o!t*are and 0roviion o!

com0uter +ard*are to a&& (uine unitD t+e diviion a&o engaged in t+e deve&o0ment

o! tec+no&ogy (aed va&ue added cutomer ervice 0roduct. T+e diviion +a +e&0ed

t+e (ank in 0&aying t+e 0ioneering ro&e in o!!ering Internet (anking ervice e


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more e!!ective monitoring and contro&. urt+er te0 are (eing taken to tream&ine

credit a00raia& 0rocedure and training to credit o!!icer at a&& &eve&.

HR 2Human Resource3 -ivision

Strategica&&yD 0er+a0 t+e mot im0ortant diviion at t+e +ead o!!ice i re0oni(&e !or

+uman reource managementD inc&uding recruitment ta!! training and eva&uation. T+e

diviion a&o +and&e matter re&ating to adminitration. T+i diviion o0erate on !uture

oriented trategy !ocuing on em0&oyee 0erona& and 0ro!eiona& gro*t+.

Sta!! deve&o0ment activitie are geared to en+ance t+eir ca0a(i&itie !or a00&ying t+e

kno*&edge and !act to*ard deve&o0ment o! 0ractica& ituation. 4nder our +uman

reource management 0o&icyD *e deve&o0 and groom our management 0erona& !or

0oition o! greater re0oni(i&itie ana&ytica&D inter0erona&D conce0tua&i-ed and

0ecia&i-ed ki&& to ena(&e t+em undertand caue


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Pre0aring t+e (ank annua& account and coordinating externa& audit i a&o a direct

!unction o! t+e !inance diviion. T+roug+ t+e dedicated e!!ort o! ta!! at t+i diviionD t+e

(ank +a (een *inning variou a*ard !oe t+e (et 0reentation o! t+e annua& account

and a&o t+e management +a a&o (een a(&e to monitor and revie* t+e (ank

0er!ormance in 0roactive manner.

Audit -ivision

T+e audit diviion re0ort direct&y to t+e (oard t+roug+ t+e executive committeeD *+ic+

i a&o t+e audit committee. T+e audit diviion i com0&ete&y inde0endent o! t+e

management and i re0oni(&e !or c+ecking and re0orting on t+e management

com0&iance *it+ t+e (oard 0o&icie and directiveD a a&o t+e 0rudentia& regu&ation

and ot+er directive o! t+e SBP. Ho*ever t+eir ro&e i not intended to )ut t+at o! !au&t

!indingL (ut a&o guiding and aiting (ranc+e in im0roving t+eir o0eration.

T+e diviion i re0oni(&e !or eva&uating every a0ect o! t+e (ank o0eration *it+ t+e

goa& o! im0roving t+e e!!ectivene o! rik management and interna& contro&. T+ere i

a&o a regiona& audit !unction attac+ed to eac+ area o!!iceL t+e nature o! t+i (uine i

o! more >ua&ity aurance rat+er t+an trict&y audit. T+e regiona& audit re0ort to t+e area

managerD and ait t+em in enuring t+at t+ere i 0ro0er com0&iance *it+ a&& t+e

re&ative directiveD and a&o t+at cutomer ervice tandard are maintained and

im0rovedD at t+e (ranc+e in t+e area.

Regiona! Areas

T+e ytem o! regiona& and area o!!ice +a (een introduced ince 1888 !or e!!ective

u0erviion and contro& o! (ranc+e. T+e co0e o! t+e ytem a&o 0an t+e

deve&o0ment and management o! (ank (uine and activitieD on a regiona& (ai.

T+e (ank (ranc+ net*ork +a (een divided into 6 region

17 ;ort+ region

$7 Com0arion o! I&ama(ad and Ra*a&0indi area and t+e nort+ area.

,7 Centra& region

/7 Com0riing o! :a+ore and Eat area.

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57 Sout+ region and

67 ?et region

A 0roce o! e!!ective decentra&i-ation +a (een im0&ementedD *it+ de&egation o!

aut+ority and greater re0oni(i&ity and accounta(i&ity. 4nder t+i ytem t+e regiona&

+ead +ave t+e 0rimary re0oni(i&ity !or (uine deve&o0mentD 0ro!ita(i&ity0roductivityD o0erationa& e!!iciency and credit >ua&ity.

T+e ytem +e&0 t+e cutomer t+roug+ >uick deciion


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Create and &everage trategic aet and ca0a(i&itie !or com0etitive advantage.

Cor/orate P#i!oso/#yCor/orate P#i!oso/#y

5T#e C#a!!enge666 to "ring a dream to !ife7

rom kno*ing Akari cutomer re>uirement to undertanding em0&oyee needD

!rom uti&i-ing modern tec+no&ogy to making re0oni(&e ocia& contri(utionD !rom

en+ancing take


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ser#ices are as di#erse as +skari market segments. +skari ha#e str"ct"red and syndicated

financing arrangements, working capital finance, Balancing>:oderni&ation


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tranaction


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Cor/orate Citi+ens#i/Cor/orate Citi+ens#i/

"The greatest of life's pleasures are shared"

Akari ro&e a a re0oni(&e cor0orate citi-en i a im0ortant to ACB: a t+e

0roduct and ervice t+ey o!!er.

Akari +ave made ue!u& contri(ution in t+e area o! 0ortD cu&tureD 0overty

a&&eviationD +ea&t+ medica& cienceD education and cienti!ic reearc+.

Akari *a one o! t+e co


25/90


rom a +um(&e (eginning *it+ )ut (ranc+e in 188$D today Akari en)oy a net*ork

o! , out&et in PakitanD 0read acro t+e country. A net*ork o! e&!uity (ae tand atR. $.5" (i&&ion *it+ $9 gro*t+ over t+e &at 5 year. T+e +uman reource ca0ita&

o! t+e (ank today exceed 1D$99 em0&oyee. A 0art o! Akari gro*t+ trategy Akari

i no* extending Akari (anking ervice to t+e remote and rura& area.

Cor/orate Ac#ievementCor/orate Ac#ievement

"Winning isn't everything, it's the only thing.

Amidt toug+ com0etitionD Akari e!!ort to go an extra mi&e in 0roviding u0eriorervice to Akari cutomer +ave (een ackno*&edged at t+e nationa& a *e&& a

internationa& &eve&. T+ee ackno*&edgement erve a a great ource o!

encouragement and a00reciation at one +and and in0ire ACB: to 0er!orm even

(etterD on t+e ot+er.

T+e 2&o(a& inance #aga-ine +a +onored Akari *it+ t+e T+e Bet Bank in

Pakitan a*ard. Akari *on t+e Euro money and Aia money a*ard a ear&y a

188/D 1885 and 1886. Akari +ave A&ND t+e +ig+et 0oi(&e credit ratingD !or t+e

+ort


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/. Promotiona& 0o&icie

5. :ending 0o&icie

6. Perona& 0o&icie

.inancia! Po!icies

.inancia! Po!icies

T+e !inancia& 0o&icie o! any (ank are t+e mot im0ortant 0o&icie t+roug+ *+ic+ t+e

*+o&e (anking activity i conducted. T+ee 0o&icie are 0rimari&y conducted on

Source o! !und

4e o! !und

Source of .unds

T+e (ank !inance 0o&icy i ac>uiring !und !rom t+e !o&&o*ing ource

3e0oit o! account +o&der.

Interet on advance and &oan granted to t+e (orro*er.

Income and commiion !rom t+e ervice 0rovided (y t+e (ank.

Bank o0en variou ty0e o! account !or it cutomer Service are 0rovided !or

earning.

Interet income and commiion (ank 0roviding t+e ervice to it cutomer.

se of .unds

+fter the ac;"isition of the f"nds their ac;"isition becomes necessary. The bank seeks the best

way for making in#estment to get more profit with the ma2im"m sec"rity. The bank has an

in#estment portfolio in which it allocates its f"nds for crediting to borrowers, in#estment in the

stock market, in#estment in the real estate property etc. for allocation of f"nds a bank has to

follow some banking policies and the pr"dential reg"lations of SBP these areE

1. A (ank +a to maintain &i>uidity *it+ centra& (ankD i.e. $5 o! it tota& de0oit.

$. A (ank cannot invet a&& o! it !und ot+er*ie it *i&& (e di!!icu&t to meet urgent

need.

A u(tantia& 0art o! !und i received !rom interet on &oan and advance. Be!ore

granting a &oan t+e (ank ana&y-e and o(erve t+e (orro*er and conduct a com0&ete

Page 1


27/90


ratio ana&yi. Bank 0re0are credit &ine !or t+i 0ur0oe t+e ma)or t+ing i granting an

advance i t+e ecurity o!!ered (y t+e (orro*er and it actua& market va&ue.

Procurement Po!iciesProcurement Po!icies

Procurement 0o&icie are more concerned *it+ manu!acturing organi-ation. In (ank

indutry t+at i ervice indutry 0rocurement mean t+e 0rocurement o! !und !rom

variou ource uc+ a de0oit. It invo&ve attracting and +o&ding t+e !und o! t+e

de0oitor. A!ter t+e ac>uiition o! !undD t+e (ank invet t+e ac>uire !und. 'ne

a&ternative i to &end it money and earned interet marku0 or invet in govt. ecuritie

etc. a a&ready mentioned in t+e a(ove 0aragra0+ t+e ma)or ource o! !und !or a (ank

are t+e de0oit o! t+e genera& and t+e ot+er ource o! income inc&ude interet or

marku0 c+arge received !or variou ervice o!!ered (y t+e (ank to it c&ient.

A (ank trie to attract maximum no. '! account o t+at it can increae it de0oit and

t+ee &ending a(i&ity. In order to get maximum no. o! account t+e ta!! o! t+e (ank mut

(e e!!icient a com0ared to t+e ot+er (ank and t+e manager o! t+e (ranc+ mut take

0erona& interet in attracting de0oit. 2ood >ua&ity o! t+e ervice i t+e key to

ucce.

$arketing Po!icies$arketing Po!icies

:arketing policies are also one of the most important policies beca"se they are related to the

growth of the organi&ation. :arketing for a bank wo"ld meanE

1. Creation o! ne* 0roduct and ervice.

$. T+e (ank marketing mut (e conumer oriented.

o&&o*ing are t+e marketing 0o&icie o! t+e ACB:.

a. =ee0ing t+e track o! &atet deve&o0ment in t+e *or&d and incor0orating t+e

&atet and mot modern e>ui0ment to make t+e (anking 0rocedure

im0&e and eay !or t+e cutomer.

(. 3eve&o0ment o! 0roduct !or t+e cutomer.

c. 2iving good ervice and maintaining good re&ation *it+ t+e cutomer.

T+ee 0o&icie can (e im0&emented (y 0roviding t+e rig+t 0roduct and ervice to t+e

cutomer at t+e rig+t 0&aceD at t+e rig+t timeD at t+e rig+t 0rice.

Page 1


28/90


It i neceary !or t+e manager to kee0 in touc+ *it+ conumerD o(erve t+eir need

and deve&o0 0roductD *+ic+ meet t+eir need.

Promotiona! Po!iciesPromotiona! Po!icies

Pu(&ic re&ation and advertiing +a aumed a great im0ortance in t+e modern (anking

(uine. A !or a 0romotiona& activitie are concernedD t+e main o()ective o! t+e (ank

i to in!orm t+e exiting c&ient and ot+er 0eo0&e a(out it ne* 0roduct or c+ange in t+e

exiting ervice. ACB: eta(&i+e it 0ur0oe t+roug+

1. 3irect contact *it+ cutomer.

$. Re&ation *it+ (uine organi-ation.

,. Community re&ation.

:ending Po!icies:ending Po!icies

Every (ank +a it o*n &ending 0o&icie exce0t !or t+oeD *+ic+ are common !or a&& t+e

(ankD i.e. t+e 0o&icieD *+ic+ are im0oed on a&& t+e commercia& (ank (y t+e SBPD are

kno*n a 0rudentia& regu&ation. T+e &ending 0o&icie o! ACB: are a !o&&o*

1. T+e (ank on&y invet in t+oe ound and via(&e 0ro)ectD *+ic+ +ave good rate

o! return.

$. Bank 0re!er to advance &oan to t+eir account +o&der.

,. :oan i given to re&ia(&e 0eron on&y.

/. ;o 0o&itica& &oan i anctioned (y (ank.

5. Any account +o&der can a00&y !or running !inance or demand !inance. T+e

manger a00raie t+e 0at record o! account +o&der and +i credit *ort+ine. I!

+e !ind anyt+ing *rong +e can re!ue to anction t+e amount.

6. T+e (ank *+i&e taking ecurity 0re!er govt. Securitie to +are.

. It a&o advance *orking ca0ita& &oan.

Persona! Po!iciesPersona! Po!icies

Perona& 0o&icie +ave an im0ortant ro&e in t+e ucce o! an any organi-ation. ACB:

+ave it 0ro0er 0erona& 0o&icie. 2ood 0erona& 0o&icie motivate t+e em0&oyee

to*ard +ard*orking.

Page 1


29/90


o&&o*ing are t+e main 0erona& 0o&icie o! ACB:

1. Se&ection o! em0&oyee on merit

$. Se&ection o! ca0a(&e em0&oyee.

,. Attractive a&ary 0ackage !or motivation o! em0&oyee.

/. To train and deve&o0 t+e !uture management o! t+e (ank.5. Every em0&oyee mut +ave certain et o! c&ear&y de!ined dutie

6. E!!ective communication at a&& &eve& o! t+e organi-ation.

CHAPTER ;

-e/artments

2enera& Banking 3e0artment Credit 3e0artment

Page 1


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0enera! Banking -e/artments0enera! Banking -e/artments

Banking 0rocedure are divided (et*een variou de0artment. 3i!!erent de0artment

do t+eir )o( in occurrence *it+ t+e (ank 0o&icie. In ACB: eac+ (ranc+ i divided into

variou de0artment. Head o! de0artment manage eac+ de0artment o!!icia& o! t+e

(ranc+ !o&&o* 0rocedure.

T+e de0artment *orking *it+in a (ranc+ are a

+. Account opening department

,. -emittances department

. )ash department

/. )learing department

Account '/ening -e/artment

Functions of Account Opening Department

Providing account o0ening !orm according to t+e cutomer re>uirementD

2uide t+e cutomer a(out t+e re>uirement o! t+e account o0ening and !orm

!i&&ingD

C+eck t+e !orm *+et+er t+ey are correct&y com0&eted or notD

Pre0aring c+eck&itD

Stam0ing on t+e !ormD

#aintaining account o0ening regiterD

Pating o! !orm in regiter a!ter re&eae !rom genera& (anking in c+argeD

Iuance o! c+e>ue (ookD

Iuance o! account maintenance certi!icateD

C&oure o! account

Page 1

Account '/ening In


31/90


%eri!ication o! ignature in cae o! c+e>ue 0reented (e!ore re&eaing o! account

o0ening !rom SS card i not yet canned

Introductory References for A/C Opening

!ntrod"ctory references +s soon as a person opens an acco"nt with the bank, the banker c"stomer

relationship is established. !n s"ch sit"ation this is ad#isable the banker sho"ld not open new

acco"nts of "nknown persons "nless references regarding the integrity and responsibility of the

p"rposed persons are obtained from respectable parties.

)ail"re to e2ercise this care may res"lt in serio"s conse;"ences not only for the banker

concerned b"t also for the other bankers and general p"blic. !t is not s"fficient to obtain the

reference b"t its gen"ineness m"st also be #erified. 3mission of this may ha#e serio"s

conse;"ences.

!n practice we see that there is to"gh competition among bankers for proc"rement of deposits, so

to press a prospecti#e new c"stomer to find the desired reference may offend him, yet he is to be

welcomed by the banker as a so"rce of fresh deposits. B"t these practical diffic"lties ha#e to be

handled tactf"lly beca"se the risk in#ol#ed to carry o"t this re;"irement partially or wholly may

lead to "ndesirable res"lts.

Precautions to Avoid Fraud

I! 0re&iminary neceary in>uirie mentioned a(ove are not made and account i

o0enedD it i 0oi(&e t+at an undeira(&e 0eron i 0rovided *it+ a c+e>ue(ook to

de!raud innocent 0eo0&e or t+e 0eron (eing an underc+arged (ankru0t may 0ut t+e

(anker in di!!icu&t ituation.

Sa!eguard againt un


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Proo! !or Reaona(&e Care and In>uiry

nder section 181 of negotiable instr"ment act, 11 a collecting banker is protected pro#ided

he collects the che;"es of his c"stomers in good faith and witho"t negligence. B"t if the banker

fails to make preliminary in;"iries he may be depri#ed of stat"tory protection, being g"ilty of

negligence.

Account Opening Procedure and Precautions

Know Your Customers

T+e o()ective o! kno*ing a cutomer i to +ave a !air idea a(out t+e identityD !inancia&

reourceD and genera& in!ormation a(out t+e cutomer at t+e time *+en t+e re&ation+i0

i eta(&i+ed. A (anker mut +ave !o&&o*ing in!ormation a(out t+e cutomer

Cutomer name

Enter com0&ete name a mentioned in origina& I3 card Jot+er (uine document.

;ature o! (uine J0ro!eion i! cutomer i o! a&aried c&a enter +i em0&oyer name.

I! t+e cutomer i a (uinemanD traderD o&e 0ro0rietorD enter t+e (uine nameD !or

exam0&e @ami& Traderetc.a&o enter t+e cutomer tit&eJ0oition and addre o! t+e

(uineJem0&oyer. Addre *it+ P.'.B'O i not acce0ta(&e. Simi&ar&y remark &ike

Private ServiceD (uine are not acce0ta(&eD rat+er 0eci!y *+at ty0e o!

com0anyJ(uine t+e cutomer i aociated *it+ !or exam0&e #anager P+i&i0

E&ectrica& Com0any.

Addre

Enter t+e com0&ete (uineJreidentia& addre. ?it+in t+e (racket you may a&o

0rovide 0rominent addre identi!ication mark !or eae o! 0+yica&&y &ocating t+e

addre.

Contact ;um(er

Enter +omeD o!!icia&D mo(i&eD !ax num(er and e


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S0ecia& intruction

-lear>c"t special instr"ctions m"st be obtained from c"stomers. !f the c"stomer has not gi#en

any special instr"ction specified col"mn m"st be cancelled by drawing a line, as this col"mn

m"st not be left blank in any circ"mstance.

ExitingJot+er (anker

A&mot mot a&& t+e (anker uua&&y +ave a (anking re&ation+i0 *it+ anot+er (ank. In

cae o! cutomer *+o doe not +ave an exiting (anking re&ation+i0D or doe not *ant

to dic&oe t+e exiting re&ation+i0D t+en it i trong&y recommended t+at at &eat !or

ome time t+i 0articu&ar account mut (e ke0t under o(ervation.

Types of Accounts

Accounts for enera! Customers

#inor account

I&&iterate 0eron account

@oint account

Account for "pecia! Persons

Pro0rietor+i0 account

Partner+i0 account

:imited com0any account

Account o! c&u( ocietie and aociation

Agent account

Trut account

:i>uidator account executer and adminitrator account

Remittance -e/artment

Functions of remittances department

T+e !unction o! remittance de0artment are to +and&e *it+ t+e !o&&o*ing intrument

Pay 'rder

3emand 3ra!t

Pay &i0

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Te&egra0+ic Tran!er

Payment o! Remittance

Cance&&ation o! 0ay order demand dra!t

T+e remittance de0artment dea& *it+ t+e tran!er o! money !rom one 0&ace to anot+er.

T+i de0artment dea& *it+ t+e &oca& currency tran!er on&y. ACB: 0rovide t+ee

ervice to (ot+ cutomer nonue

2et t+e a00&ication !orm.

Iue 0ay order a!ter recovering c+e>ue.

3o neceary vouc+ering.

#ake entry in P' iue regiter. A&& 0ay order +a&& (e croedM 0ayee account on&yM.

C#arges on issue of Pay Order

Amount 2Rs3 C#arges 2Rs3:e t+an 199D999 59

A(ove 199D999 ;i&

Dup!icate Pay Order$

C+eck t+e record to inure t+at 0ayment +a not (een e!!ected. 2et a00&ication !or iuing o! du0&icate P'.

Recover c+arge.

Iue du0&icate 0ay order.

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Demand Draft

It i an intrument on demand !or *+ic+ va&ue +a (een receivedD iued (y t+e (ranc+

o! t+e (ank dra*n i.e. 0aya(&e at ome ot+er 0&ace (ranc+7 o! t+e ame (ank. In cae

o! agency arrangement< demand dra!t can a&o (e iued (y one (ranc+ o! t+e (ank

0aya(&e to ot+er (ranc+ o! t+e ot+er (ankE.g. 33 iued (y ACB: 0aya(&e (y #CB.

C#arges on issue of Demand Draft

Amount 2Rs3 C#arges 2Rs3

1 < 19D999 $519D999 199D999 59 or .1

199D999 < 1999D999 $99 or .9'ver 1999D99 1999 or .95

PAY "%IP!he bank for settlement of its own payment issues pay slip.

0o e"cise duty

0o commission

Cas# -e/artment

A&& 0+yica& movement o! ca+ in t+e (ank i made t+roug+ t+e ca+ de0artment.

;orma&&y ca+ de0artment 0er!orm !o&&o*ing !unction

Recei0t

Payment

Act according to any tanding intruction

Tran!er o! !und !rom one account to anot+er

Hand&ing o! AT#

%eri!ication o! ignature

Poting

Hand&ing o! 0ri-e (ond

Cas# receipt section

In t+i ection t+e ca+ier in !o&&o*ing manner receive ca+

Page 1

Process of de/osits


36/90


Cas# payment section

In this section honoring the che&ue through following process makes

payment.

C!earing -e/artment

&eaning of C!earing

The word clearing has been deri#ed from the word F-learG and is defined as F a system by which

banks e2change che;"es and other negotiable instr"ments drawn on each other within a specific

area and thereby sec"re payment for their clients thro"gh the -learing o"se +t specified time

Gin an efficient wayG.

1. Since c&earing doe not invo&ve any ca+ etc. and a&& t+e tranaction take 0&ace

t+roug+ (ook entrieD t+e num(er o! tranaction can (e un&imited.

$. ;o ca+ i needed a uc+ t+e rik o! ro((eryD em(e--&ement and 0i&!erage i

tota&&y e&iminated.

,. A ma)or 0ayment are made t+roug+ c&earingD t+e (ank came manage ca+0ayment at t+e counter *it+ a minimum amount o! ca+ in vau&t.

/. A &ot o! timeD cot and &a(or are aved.

5. Since it 0rovide an extra ervice to t+e cutomer o! (ank *it+out any ervice

c+arge or cotD more and more 0eo0&e are inc&ined and attracted to*ard

(anking.

Page 1

i&&< u0de0oit &i0

3e0oited onRecei0t

Cutomer

Ca+ier count t+eamount and !u&!i&&ot+er re>uirement

C+e>ue i0reented at token

counter

C+e>ue i recorded token Q i a&&otted

Ca+ier countt+e amount 0ayment i

Cance&&ation o!!icercance& c+e>ue

Poting i madeT*o ignature on(ack o! t+e c+e>ue

(y cutomer

Process of /ayment


37/90


C!earing 'ouse

It i a 0&ace *+ere re0reentative o! a&& (ank it toget+er and interc+ange t+eir c&aim

againt eac+ ot+er *it+ t+e +e&0 o! contro&&ing ta!! o! State Bank o! Pakitan And *+ere

t+ere i no (ranc+ o! State Bank o! Pakitan t+e deignated (ranc+ o! ;ationa& Bank o!

Pakitan act a contro&&ing mem(er intead o! State Bank o! Pakitan

&em(ers#ip Ceases

It ceases to be a scheduled Bank.

It i not a(&e to meet it &ia(i&itie.

State Bank o! Pakitan or Centra& 2ovt. 0ro+i(it it to receive !re+ de0oit.

Ru!es and Regu!ations of C!earing 'ouse

Timing#onday t+roug+ riday7

o 1t C&earing at 1999 a.m.

o $nd C&earing at $.,9 0.m.

Eac+ (ank *i&& end com0etent re0reentative to exc+ange t+e c+e>ue.

Eac+ (ank i re>uired to inure t+at a&& c+e>ue and ot+er negotia(&e intrument

are 0ro0er&y tam0ed and uita(&y dic+arged

An o()ection memo mut accom0any eac+ and every c+e>ue *+en return un0aid

du&y initia&ed. Eac+ (ank i re>uired to maintain u!!icient !und in t+e 0rinci0a& account *it+

SBP to meet t+e 0ayment o(&igation.

T+e State Bank o! Pakitan de(it t+e account o! eac+ mem(er o! t+e

c&earing+oue *it+ t+e 0ro0ortionate *orking ex0ene incurred on t+e o0eration

o! c&earing +oue. T+ee ex0ene are very nomina&.

Outward C!earing

T+e !o&&o*ing 0oint are to (e taken into conideration *+i&e an intrument i acce0ted

at t+e counter to (e 0reented in out*ard c&earing

T+e name o! t+e (ranc+ a00ear on it !ace *+ere it i dra*n.

It +ou&d (e ta&e or 0otdated or *it+out date.

Amount in *ord and !igure doe not di!!er.

Page 1


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Signature o! t+e dra*er a00ear on t+e !ace o! t+e intrument.

Intrument i not muti&ated.

T+ere +ou&d (e no materia& a&terationD i! oD it +ou&d (e 0ro0er&y

aut+enticated.

I! order intrument uita(&y indored and t+e &at endoree account

(eing credited.

Endorement i in accordance *it+ t+e croing i! any.

T+e amount o! t+e intrument i ame a mentioned on t+e 0aying


39/90


". T+e grand tota& o! t+e +oue 0age i taken and agreed *it+ t+at o! t+e out*ard

c&earing regiter.

8. T+e intrument a&ong *it+ du0&icate c+edu&e and +oue 0age are ent to t+e

main o!!ice.

Ho*ever t+e amount i ke0t in !&oat ti&& !ina& tatu o! variou intrument i kno*n !romre0ective 0aying (ank in econd dea&ing.

T+e entry o! t+e intrument returned un0aid i made in C+e>ue returned Regiter. I!

t+e intrument i not to (e 0reented again in c&earing t+en a covering memo i

0re0ared. T+e covering memo a&ong *it+ returned intrument and o()ection memo i

ent to t+e cutomer *+o ent t+e ame to +i account.

Inward C!earing

The particulars of the instruments are compared with the list.

T+e intrument are detac+ed and ort out de0artment *ie.

T+e entry i made in t+e in*ard c&earing regiter eria& no. Intrument no. Account

no. I *ritten7.

T+e intrument are ent to t+e re0ective de0artment

T+e intrument are crutini-ed in eac+ re0ect (e!ore +onoring t+e ame.

Outward C#e)ues Returned *npaid$

T+ee are t+e c+e>ue returned un0aid (y u in in*ard c&earing due to ome o()ection.

Inward C#e)ues Returned *npaid$

T+ee are t+e c+e>ue retained un0aid to u *+ic+ *ere &odged (y u in 'ut*ard

C&earing.

Return of C#e)ues after C!earing 'ouse$

Su00oe a&& c+e>ue received in t+e in*ard c&earing are 0aed and &ater on it i !ound

t+at a c+e>ue +ou&d +ave (een returnedD in uc+ caeD *e contact t+e co&&ecting

(ranc+ and re>uet t+em not to make 0ayment againt t+e 0roceed o! t+e c+e>ue

*+ic+ *a not returned un0aid (y u in due time. t+e c+e>ue *it+ o()ection memo

a&ong *it+ a covering &etter i ent to t+e co&&ecting (ranc+D making re>uet to iue a

0ayment order in !avor to (a&ance t+e Ca+


40/90


account undry de(tor *it+ t+e a00rova& o! t+e manager. ?+en t+e 0ayment order i

receivedD it i &odged in c&earing and u0ene accountD undry de(tor i ad)uted

according&y.

"pecia! C!earing$

In addition to t+e norma& c&earing !unction at C&earing +oue it i mutua&&y agreed to +o&d

an extra c&earing at t+e c&earing +oue on t+e 0articu&ar day and time *+ic+ i kno*n a

0ecia& c&earing it i arranged due to t+e ru+ o! *ork ariing out o! ayD more Ho&iday

dec&ared (y t+e Centra& 2ovt. at a timeD (ut norma&&y 0ecia& c&earing i +e/&d on &at

*orking day o! our +a&! year&y and year&y c&oing i.e. ,9t+ @une and ,1t 3ec. every

year.

'n!ine Banking

'n&ine (anking mean t+at t+e cutomer o! ACB: can de0oit J *it+dra* !und in J !rom

ot+er (ranc+e o! ACB:. Akari (ank 0rovide on&ine !aci&ity to a&& it (ranc+e.

On!ine C#arges

!mount of eposits #harges $ %s&(,))) or below ()

(,))) * )),))) +))

)),))+ * ()),))) ()

()),))+ * ))),))) ())

!bove ))),))) ()

:ockers

Askari bank offers facility of lockers to its customers. !here are three si1es of

lockers available2

C#arges

-ie of lockers %ent of locker $%s& p.a.

Large ,344

'edium +344

Small +444

.oreign Trade -e/artment

oreign trade de0artment dea& in

oreign currency account

Ex0ort

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Im0ort

Foreign Currency Account

#ain&y t+i account dea& in individua&D 0erona& and com0anie account

Criteria for Opening Foreign Currency AccountT+ere are not +ard and !at ru&e !or (ecoming t+e oreign Currency Account +o&der.

Bank *ant on&y introduction o! t+e C&ient and very &itt&e a(out t+e (ackground. I.3 card

i a&o not necearyD i! omeone +aL *e&& and goodD ot+er*ie no retriction *i&& (e

t+ere !or +im.

Features of Foreign Currency Accounts

T+ere *i&& (e &ega& 0rotection !or t+e account +o&der.

According to !oreign exc+ange ru&e and regu&ation every citi-en o! PakitanD

eit+er *it+in t+e Pakitan or outide t+e PakitanD can o0en t+e !oreign currency

account.

Reident !irm and Reident Com0anie inc&uding invetment Bank can o0en

oreign Currency Account.

A&& !oreign nationa& and !oreign Com0anie in Pakitan or a(road can o0en

oreign Currency Account.

'0ening o! oreign Currency Account in t+e )oint name o! reidentJnonuetioning to +im a(out t+e currencyD *+ic+ +e

*ant to de0oit t+at !rom *+ere +e got t+at money.

;o akat *i&& (e deducted on t+ee accountL no Income Tax deductionD no

?ea&t+ Tax deduction *i&& (e t+ere.

T+ee incentive rein!orce and motivated t+e 0eo0&e to invet in !oreign currency

account rat+er to kee0 t+e !oreign currency id&e.

oreign currency account can eai&y (e tran!erred !rom one 0eron to anot+erD

one 0&ace to anot+erD *it+ in t+e A=B: Branc+e or in ot+er Bank.

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T+e account +o&der can tran!er t+e !und !ree&yD in any currency to any 0art o!

t+e *or&d.

Faci!ities

T+i account 0rovide !o&&o*ing !aci&itie

Trave&ing >uota

'ut *ard remittance

In *ard remittance receiving

To make remittance 0rocedure !&exi(&e

+,port

4ua&&y t+e ex0orter doe not re&y on t+e credit o! a (anker in t+e country o! im0orterD

and init on a con!irmation !rom a (anker carrying on (uine in +i o*n country.

T+u t+i de0artment o! a (ank +e&0 t+e ex0orter to ett&e do*n t+eir !inancia& a!!air.

or ex0orting it i neceary !or ex0orter to get ex0ort &icene !rom t+e c+ie! contro&&er o!

im0ort and ex0ort a!ter regitration.

3ocument are re>uired !or t+e regitration uc+ a ;. I. C. CardD income tax certi!icateD

(ank certi!icate *+ic+ +o* t+at t+e ex0orter i +i account +o&der and +ave a good

dea&ing *it+ t+em. In re0one to t+e &etter o! credit ex0orter u(mit t+e !o&&o*ing

document to t+e negotiating (ank.

Bi&& o! exc+ange

Invoice

Bi&& o! &ading or Air*ay (i&&Jrai&*ay recei0tJtruck recei0t

Inurance document

Packing &it

Any ot+er documentD i! o re>uired.

T+e negotiating (ank *i&& end t+e ame document to t+e iuing (ank. In accordance

*it+ t+e term and condition &aid do*n in &etter o! credit.

Foreign Bill Purchased (FBP)

)ollowing re;"irements m"st be f"lfilled before the p"rchase of )oreign 2port Bills. 2porter

sho"ld be acco"nt holder of the bank. Bank iss"es the )orm>. )orm> sho"ld be filled correctly

and then bank a"thenticates the >)orm. 2porter goes to the c"stom a"thorities for c"stom

clearance. Shipping -ompany iss"es Bill of 6ading or +irway Bill. 2porter sho"ld bring other

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doc"ments like certificates of 3rigin, commercial in#oice, packing list etc. Bank scr"tini&es the

doc"ments.

+fter f"lfilling these re;"irements, bank p"rchases the e2port bill and makes payment for the

#al"e of goods in Pak


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goods. )or this p"rchase of bill bank gets more charges as compare to )BP. :ainly e2port deals

inE

;egotiation o! document

Sending t+e document !or co&&ection

Pre


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licensing a"thority. The importers can only get their merchandi&e cleared from the c"stom

a"thorities if they ha#e the import license d"ly iss"ed in their names. The import licenses iss"ed

by the !mport Trade -ontroller are re;"ired to be registered with the State Bank of Pakistan.

$ontract o# sale

+fter getting the license, the importer then negotiates with the e2porter. ?hen they reach to anagreement on all terms of sale, they sign a contract. Th"s contract incl"des all information of

terms and condition of sale.

Letter o# credit

)oreign trade payment problems are mainly sol#ed by a letter of credit. + letter of credit is iss"ed

by the importerAs bank. !f the g"arantees payment to the e2porter "p to specified amo"nt of

money pro#ided the terms and conditions laid down the 6- are f"lfilled. + letter of credit is a

commitment on the part of b"yerAs bank to pay or accept draft drawn "pon it, pro#ided drafts do

not e2ceed a specified amo"nt.

+ letter of credit th"s is a '!* written "ndertaking by an importerAs bank to e2porterAs bank. '!!*

That it will pay or accept draft drawn "pon it "p to a stated amo"nt with a specified time. '!!!*

The payment will only be made to the e2porter if he compliers with the terms of credit.

Parties to a letter o# credit

There are fo"r parties in#ol#ed in letter of credit.

+cco"nt partyE The b"yer or the importer on whose acco"nt and re;"est the letter of

credit is opened is known as acco"nt party or opener.

!ss"ing bankE The bank which iss"es or opens a letter of credit at the re;"est of

importer is called iss"ing bank.

2porter or sellerE The seller or the party in whose fa#or 6- is drawn is the e2porter.

e is also called beneficiary.

/egotiating bankE The paying bank in the e2porterAs co"ntry, on which the draft is

drawn, is called negotiating bank or paying bank.

O%ening o# letter o# credit

The main steps in#ol#ed in the opening of the letter of creditor as followsE

A%%lication #or letter o# credit

The importer will re;"est with own bank or any other bank, which deals in foreign trade

transactions to iss"e a letter of credit in fa#or of the e2porter. e will prepare an application on

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the prescribed form a#ailable from the bank. The information, which are s"pplied in the

application are based on the contract of sale and incl"de only the important feat"re of contract,

s"ch as #al"e of merchandise, port of shipment, doc"ments to be presented, port of "nloading,

brief description of goods, import license etc.

&crutiny o# a%%licationBefore iss"ing a letter of credit, the bank will scr"tini&e whether the importer is of good financial

standing, possesses the import license iss"ed by import control. +"thorities, the amo"nt a#ailable

co#ers the letter of credit applied for, market demand of goods, collateral offered to co#er the

credit etc.

$ash margin

The bank asks the importer to deposit cash or sec"rities with the bank. The bank depending "pon

the credit worthiness of the importer decides the proper margin of cash or sec"rities to be

deposited.

Issue o# the letter o# credit

The importer bank after being f"lly satisfied will iss"e a letter of credit in fa#or of the e2porter.

The 6- may be sent directly to the e2porter or the ad#ising bank in the e2porterAs co"nty. !n

s"ch a case, the ad#ising bank will inform the e2porter abo"t opening a letter of credit.

&hi%ment o# goods

?hen the e2porter recei#es 6-, he e2amines it to ens"re that it conforms to the terms of

contract of sales. e then shifts the goods and presents all re;"ired doc"ments along with the bill

to negotiating bank.

!ole o# negotiating bank

The negotiating bank after recei#ing all the doc"ments and the bill from the e2porter will

scr"tini&e them whether these conform with the terms of letter of credit. !f the doc"ments of title

accompanying the bill are in order, these will be sent to the importers bank for payment.

Liability o# the issuing bank

3n receipt of doc"ments and the bill, the iss"ing bank will e2amine them. !f the doc"ments on

the face appear to be in order, the payment wo"ld be released by the bank. !n case any defect is

fo"nd in the doc"ments and the draft is honored by the iss"ing bank the importer can claim

damages on the iss"ing bank. The iss"ing bank is only acco"ntable for the completeness of

doc"ments, not to see whether goods conform to the contract of sale.

Payment by im%orter to the bank

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)irst the importer pays all his obligations to the bank then the bank releases the doc"ments. !n

case of sight draft, the importerAs bank pays the amo"nt on the same day charging the importing

c"stomerAs acco"nt. !n case of a time draft, the importer discharges his obligations to the

accepting bank on or before the mat"rity date of acceptance. The accepting bank will then

release all the shipping doc"ments to the importer.Payment to the e'%orter

The e2porter can obtain payment from the negotiating bank by disco"nting the draft '6-*

immediately after shipping the goods and obtaining shipping doc"ments.

&ubmission o# onthly !eturns

!t incl"des reporting of )orm>: and )orm> to SBP.

!e%orting o# Form*

#ery 2porter is re;"ired to s"bmit a declaration to c"stom a"thorities for goods e2ported. This

declaration is s"bmitted on prescribed )orm> in ;"adr"plicate, which is certified by a"thori&ed

dealer. )o"r copies of )orm> are maintained. )orm> is reported to SBP at the end of the

month, in which the amo"nt is reali&ed. There is a prescribed Performa "sed for the reporting of

)orm>. !t incl"des the reporting period, c"rrency, Serial /o. of )orm>, amo"nt, -ode /o. of

co"ntry and commodity.

!e%orting o# Form

#ery foreign bank ded"cts some charges from the #al"e of goods. !t is for miscellaneo"s

p"rposes like foreign bank charges or foreign agent commission. )orm>: is "sed to declare this

o"tflow of foreign c"rrency. +t the end of the month of reali&ation of the amo"nt, )orm>: is

reported. !t incl"des the list of Serial /o, amo"nt and p"rposes of e#ery )orm>:.

Credit -e/artmentCredit -e/artment

+ltho"gh the st"dy of money is important for the "nderstanding of the way in which o"r

economic system operates, we m"st recall this point that most e2change transactions in this

system are carried on today witho"t the "se of act"al money, i.e. Those are carried on by means

of credit and credit instr"ments rather than money. ?hile money still forms the basis of credit

and deferred payments, it is necessary to e2amine the nat"re of credit operations, and the

instr"ments and instit"tions tro"gh, which these operations are carried on, in considerable detail.

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T#e Nature of -e/artment

'n t+e ur!aceD credit o0eration a00ear to (e o! many kindD (ut t+ey a&& +ave a

!undamenta& imi&arity. In credit tranactionD one 0arty to t+e tranactionD t+e creditorD

turn over to t+e de(tor a certain amount o! moneyD commoditie or ervice at t+e

0reent time and re&ie on t+e de(tor to re0ay an e>uiva&ent amountD uua&&y t+e moneyin t+e !uture 0&u interet at ome !uture time.

T#e Basis of Credit

T+ere +a (een muc+ dicuionD concerning t+e eentia& (ai o! credit or (orro*ing

o0eration. Some *riter on t+e u()ect +ave tout&y inited t+at con!idence i t+e (ai

o! a&& grant o! credit t+at i! one did not +ave con!idence t+at t+e (orro*er *ou&d re0ay a

&oan one *ou&d never t+ink o! making t+e &oanD ave on ground o! !riend+i0 o!

0+i&ant+ro0y. 't+er +ave +e&d 0ro0ertyD rat+er t+an con!idence i t+e (ai o! a&&genuine credit tranaction. Some init t+at c+aracter i t+e eentia& !actorD *+i&e ti&&

ot+er *riter +ave indu&ged in a 0ro0enity o! a&&iteration (y tating t+at t+e (ae o!

credit are c+aracterD ca0ita& and ca0acityL or t+e man and t+e meanL or re&ia(i&ity and

reource.

Ty/es of Credit

T+e veritie o! credit may (e c&ai!ied in numerou *ay< according to t+e tatu o! e+

de(torD according to t+e tatu o! t+e creditorD according to t+e time !or *+ic+ t+e credit

i grantedD and o onL (ut t+e mot !ruit!u& c&ai!ication uua&&y indicate t+e ue to

*+ic+ t+e credit i 0ut.

Pu(!ic and Private Credit$

In t+e !irt 0&aceD a ditinction i uua&&y made (et*een 0u(&ic and 0rivate credit. Pu(&ic

credit com0rie t+e 0romie to 0ay o!! governmenta& (odieD t+at iD t+eir ac>uiition

o! good in t+e 0reent in return !or 0romie to 0ay in !utureL and 0rivate credit re!er to

t+e 0romie to 0ay a&& non


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de(entureD and (onded o(&igation. re>uent&yD t+e term (ank credit i retricted in ue

to re!er on&y to t+e demand de0oit &ia(i&itie o! t+e commercia& (ankD and one mut

contant&y (e on guard to recogni-e t+e em0&oyment o! t+e term in t+i retricted ene.

A a u(ui0ment. '(viou&y *+at t+ey need i &oan o! ca0ita& running over a conidera(&e0eriod o! year.

Commercia! Credit

In addition to eeking credit in &ong term invetment in !ixed aetD mot (uine

0eriodica&&y ak !or credit in t+e !orm o! +ort term &oan. Commercia& credit i (uine

u00&ier !or current (uine o0erationD uc+ a manu!acturing and marketing o!

good. It o!ten take more (uine ca0ita& t+an (uine can t+eme&ve u00&y to 0ay

!or ra* materia&D to make t+e out&ay !or *age and to carry inventorie o! !ini+ed

good unti& t+ey can (e converted into ca+. To +e&0 !inance uc+ o0eration +ortuick aetD uc+ a ra* materia&

and !ini+ed goodD *+ic+ are in contant 0roce o! &i>uidation and t+ere(y 0rovide t+e

ca+ *it+ to extingui+ &oan.

Consumers credit and producers. credit

Conumer credit invo&ve advance o! 0urc+aing 0o*er !or economic good to

conumer !or conum0tion 0ur0oe. It ditingui+ c+aracteritic &ie in t+e !actor t+at

t+e t+ing ac>uired (y t+e de(tor a reu&t o! t+e &oan are not u00oed to !urni+

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t+em *it+ t+e mean o! re0aying t+e &oan t+e &oan mut (e re0aid out o! t+e income o!

t+e (orro*er.

Ty/es of Credit Instruments

T+ere are variou ty0e o! credit intrument. T+e more im0ortant credit intrument are

a !o&&o*

-i!!s of e,c#ange$

A (i&& o! exc+ange i de!ine (y negotia(&e intrument act a Man intrument in *ritingD

containing an unconditiona& orderD igned (y t+e makerD directing a certain 0eronD to

0ay certain um o! moneyD on&y to or to t+e order o! a certain 0eronD or to t+e (earer

t+e intrumentM.

C#e)ue$A C+e>ue i de!ined a (i&& o! exc+ange dra*n on 0eci!ic (anker and not ex0ree to

(e 0aya(&e ot+er*ie t+an on demand.M

C+e>ue may (e o! variou ty0eD *+ic+ are a !o&&o*

Bearer c+e>ue

'rder c+e>ue

'0en c+e>ue

Croed c+e>ue

#arked c+e>ue

Drafts$

T+ee are (i&& o! exc+ange iued (y a (anker on +i (ranc+ o!!ice. Bank dra!t &ike

(i&& o! exc+angeD are o! great im0ortance in t+e !inancing o! tradeD e0ecia&&y !oreign

trade

Promissory note$It i an intrument in *riting containing an unconditiona& undertakingD igned (y t+e

makerD to 0ay t+e certain um o! money on&y to or to t+e order o! a certain 0eron to t+e

(earer o! t+e intrument. a 0romiory note in order to (e t+e oD mut !u&!i&& a&&

condition.

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CHAPTER =

Products and Services

T+e 0roduct ervice o! Akari commercia& (ank &imited are deve&o0ed kee0ing in

vie* t+e cutomer need *antD t+e ex0ectation t+at t+e cutomer attac+e *it+

it !inancia& intitution.

A 0roduct ACB: inc&ude a&& t+oe ervice *+ic+ cutomer norma&&y re>uired !or

e!!ective&y managing +i (uine.

ACB: o!!er t+e !o&&o*ing !inancia& ervice to it cutomer.

3e0oit

Advance

Product

Internationa& (anking ervice

Agency ervice to cutomer

-e/osits-e/osits

'ne o! t+e (aic !unction o! commercia& (anking i to receive de0oit. ACB: acce0t

de0oit in (ot+ &oca& !oreign currency.

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:oca! currency de/osits

Current Account

P:S Saving Account

Term 3e0oit

;otice 3e0oit

Akari aida Account

Akari S0ecia& 3e0oit Account

%a&ue P&u Saving Account

Akari Advantage

Current Account

+ c"rrent acco"nt is a r"nning H acti#e acco"nt, which may be operated "pon any n"mber of

transactions d"ring a working day. The banker "ndertakes to repay these on demand H therefore

theses acco"nts are called demand deposits.

Transaction fee

The bank charges no transaction fees if the minim"m balance re;"irement is met. owe#er, if

the a#erage balance falls below the min. balance then the fees is charged at the rate of


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ACB: o!!er t+ee !aci&itie in t*o !orm

unded !aci&itie

;on< unded !aci&itie

.unded faci!ities

In !unded !aci&itie t+e (ank actua&&y advance money againt !urt+er re0ayment. T+ee

!aci&itie are kno*n a ca+ credit.

Non< .unded faci!ities

;on< unded !aci&itie are t+oe in *+ic+ (ank u(titute it o*n credit !or it

cutomer.

ACB: o!!er to it cutomer are &arge num(er o! non

T+ee !aci&itie inc&ude

1. 2uarantee

$. :atter o! credit

Irrevoca(&e &etter o! credit

Revoca(&e &etter o! credit

Sig+t &etter o! credit

4ance &etter o! credit

't#er Products't#er Products

Persona! .inance

Perona& inance i a 0arameter driven 0roduct !or catering to t+e need o! t+e genera&

0u(&ic (e&onging to di!!erent egment. 'ne can avai& un&imited o00ortunitie t+roug+

Akari Bank Perona& inance. ?it+ unmatc+ed !inance !eature in term o! &oan

amountD 0ay(ack 0eriod and mot a!!orda(&e mont+&y inta&&mentD Akari BankPerona& inance make ure t+at one get t+e mot out o! +iJ+er &oan. 'nce a good

credit +itory i eta(&i+edD t+e door to o00ortunity o0en muc+ *ider.

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$ortgage .inance

+skari I:ortgage )inanceI offers the con#enience of owning a ho"se of choice, while li#ing in

it at its rental #al"e. The installment plan has caref"lly designed to s"it both the b"dget H

accommodation re;"irements. !t has been designed for enhancing financing facility initially for

employees of corporate companies for p"rchase constr"ction reno#ation of ho"se. Thema2im"m financing amo"nt is financing

scheme, which pro#ides o"r #al"able c"stomers an opport"nity to own a brand new #ehicle of

their choice. ?ith minim"m down payment, lowest ins"rance rates and widest range of a#ailable

car makes and models, +skcar offers the best #al"e to o"r esteemed c"stomers.

ASCard

AS=CAR3 mean !reedomD com!ortD convenience and ecurityD o t+at you can +ave

retai& tranaction *it+ com0&ete 0eace o! mind. AS=CAR3 i your ne* +o00ing

com0anion *+ic+ en+ance your >ua&ity o! &i!e (y &etting you do +o00ingD dine at

retaurantD 0ay your uti&ity (i&&D tran!er !undD *it+dra* and de0oit ca+ t+roug+ AT#

any*+ereD anytime.

Trave!!er C#e>ues

The range of o"r prod"cts and #al"e added ser#ices enhances with introd"ction of


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ASPo)er

+sk power represents a "sef"l tool with which to make sec"re payments witho"t the need to ha#e

any acco"nt, a debit or credit card. This card comes with a n"mber of "ni;"e feat"res and

di#ersified "sage capabilities like cash withdrawal from +T:s, payment of "tility bills thro"gh

+T:s and internet Banking, transfer of balance to another card and refill option. The prepaidcard is en0oying a great s"ccess all o#er the co"ntry.

&a!ue P!us

T+e !irt &ia(i&ity 0roduct &aunc+ed (y t+i unit i +o*ing a remarka(&e acce0ta(i&ity in

t+e market. T+e gro*t+ o! t+i 0roduct i *itneed (y it +areD *+ic+ +a 0reent&y

reac+ed at R. 1D98 #i&&ion even a!ter &o*ering do*n t+e 0ro!it rate due to u!!icient

&i>uidity in t+e market.

Com/!imentary CIP and RA?A: :ounge .aci!ities

T+e next time you trave& internationa&&yD (e a 0rivi&eged guet at t+e CIP &ounge o!

uaid


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15 on ami&y Hea&t+ C&u( mem(er+i0 on&y

15 at t+e Buine Center

19 on Con!erence J #eeting Package Rate cannot (e ued in con)unction

*it+ Ha&& Renta&

19 at Beauty Sa&oon

19 on Rent a Car

Agricu!ture .inance

Akari Bank Agricu&ture Credit Sc+eme *are &aunc+ed in $99/ under t+e um(re&&a o!

Agricu&ture Credit 3iviion continue to (e an attractive Product !or meeting '; arm

and ' arm !inancia& re>uirement o! t+e !armer.

Kissan +ver reen Finance

Akari Bank +a &aunc+ed t+i 0rogram *it+ t+e o&e motive to 0rovide dignityD

0ro0erity and !reedom to t+e ti&&er o! t+e &and. T+e 0rogram i deigned to +e&0 ma&&D

medium and &arge !armer in meeting t+eir +ortuirement againt one

time anction and automatica&&y rene*a(&e u0 to , year u()ect to it ti0u&ated

uti&i-ationJ0eriodica& ad)utment. T+e credit &ine i anctioned in t+e &ig+t o! avai&a(&e

ca+ !&o* and in0ut re>uirement i.e. SeedD erti&i-er Peticide etc.

Kissan Farm &ec#ani0ation Finance

Akari Bank +a &aunc+ed an Akari =ian arm #ec+ani-ation inance !or t+e

aitance o! t+e ma&& !armer and 0rovide !inance !or !arm e>ui0mentD trai&erD

t+re+erD dri&& rotavator etc.

Kissan Aa(pas#i Finance

Agricu&ture !arming i im0oi(&e *it+out ade>uate *ater. Akari Bank +a tarted a

0rogram !or !armerD to !inance inta&&ation o! Tu(e


57/90


avai&a(i&ity at +i !arm.. T+i 0rogram +a t+e added advantage t+at (eide !u&!i&&ing +i

o*n !ami&y conum0tion need +e *i&& (e a(&e to market t+e ur0&u and earn

additiona& income. T+i *i&& !urt+er im0rove t+eir ca+ !&o* to re0ay t+eir ot+er :oan J

Revo&ving Credit on due date.

issan .arm $ec#ani+ation

Akari Bank +a &aunc+ed an Akari =ian arm #ec+ani-ation inance !or t+e

aitance o! t+e ma&& !armer and 0rovide !inance !or !arm e>ui0mentD trai&erD

t+re+erD dri&& rotavator etc.

issan .arm Trans/ort finance

Akari Bank +a &aunc+ed an Akari =ian arm Tran0ort inance. A grave +andica0

t+at a!!&ict t+e !armer i t+eir ina(i&ityD due to &ack o! 0ro0er !aci&itieD to take t+eir

0roduce to t+e market t+roug+ e!!icient mean o! tran0ortation. 'ne can a!e&y

conc&ude t+at i! 0rovided *it+ a00ro0riate and 0eedy tran0ortD t+e !armer can (ene!it

(y en+ancing +i e&&ing a(i&ity and t+u increae +i income J ca+ !&o*. it i 0ertinent to

mention t+at a num(er o! BankD :eaing Com0anie and Private Agencie +ave

geared t+eir marketing e!!ort to concentrate on and +ave main&y ca0tured t+e ur(an

market.

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CHAPTER @

S?'T Ana!ysis

An ana&yi indicating to*ard t+e organi-ation trengt+D *eakneeD o00ortunitie

and t+reat i termed a S?'T Ana&yi. Suc+ an ana&yi i very im0ortant !or t+e

management in retaining t+e trengt+D overcoming t+e *eakneeD ca0ita&i-ing over

t+e emerging market o00ortunitieD and carving *ay to ucce!u&&y tack&e *it+ t+e

t+reat and u&timate&y converting t+em in t+e trengt+ !or t+e organi-ation.3uring ix *eek o! my tay at Akari Commercia& BankD A(da&i Road Branc+D #u&tan. I

+ave come acro t+e !o&&o*ing S?'T ana&yi o! t+e (ank.

Strengt#sStrengt#s

:eading Private Sector Bank

Akari commercia& (ank i t+e &eading 0rivate ector (ank in t+e (anking net*ork in

Pakitan *it+ many o! t+em on&ine (ranc+e in ma)or citie o! t+e country

Automatic '/erations

T+e o0eration 0er!ormed (y t+e (ank are +ig+&y automated t+at reu&t in aurance !or

t+e cutomer t+at t+eir tranaction are com0&eted re&ia(&yD e!!icient&y and ecure&y.

.u!! -ay Banking

'ne can avai& t+e (ene!it o! t+e ervice 0rovided at t+e (ank ti&& 599 P.m. *+ic+ i

+ig+&y ue!u& !or t+oe cutomer *+o !ind it di!!icu&t to &

askari report

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