Changezi 1 Internship Report on Bank Alfalah ltd. For the sake of internship the most initial thing is to have a practical experience. This effort may get a student to get a practical experience if right organization is selected. During the internship a student comes to particle knowledge.
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Finance Division is responsible for bookkeeping and accounts. However, their role is not intended to be just that of fault- finding; but also guiding and assisting branches in improving their operations. Policies for any organization constitute a major part 28 in the overall long term functioning of the bank. In short we can say that policies and the objectives are the lifeblood of the organization in long run.
Though policy formulation is in the prescribed hands yet the policies formulated by the top level have been very successful as indicated by the success pattern of the bank so far. Then these policies are transformed into the hands of the top-level management. The top management is been suggested to make the policies implemented keeping in view the long-term objectives of the organization. Also the views from the middle managers and employees are encouraged as well for the purpose of removing flaws form the system.
For these very purpose meetings arte held almost weekly at the branches level and also in case of any contingent dispute resolving the meeting scan be called at any time during the branch timings.
It has made a break- through in providing premier services at an affordable cost to our customers. Managerial policies followed by the bank have a direct contribution in its success. The Board and Management of the Bank have implemented strategies and policies to carve a distinct position for the Bank in the market place.
Bank Alfalah has made notable progress in business volume, efficiency, and profitability following its increased involvement in trade finance, commercial lending, and foreign exchange and money market operation. Likewise, Bank Alfalah has created 29 a niche for itself in the marketplace.
It is planning to introduce new consumer products like credit cards, e-banking etc. Lending Policy Bank Alfalah pursues a conservative yet dynamic credit policy. This strategy has enabled the bank to have a high quality risk portfolio. Bank prefers to finance exporters because of less risk involved. Bank Alfalah manages the credit risk, liquidity risk, market risk and other operational risks very efficiently. For this very purpose Bank Alfalah has got an effective credit line proposals system to be sanctioned to the clients on demand.
Selection of Clients Management is very selective of clients. All of the references are carefully checked to learn about a potential client before establishing a relationship.
References are excellent sources of new accounts as they give an opportunity to learn about a potential client before establishing a relationship. This policy helps in protecting the integrity of the bank. It ensures good relationship with the clients. Services and Product Polices Bank Alfalah provides a vast variety of services to its clients. Some of those policies are discussed below: i.
Credit Facility In this service the loans are provided to the customers by the bank to meet revenue shortfalls. Stop Payment Instructions It is one of the most important services provided by the bank to its clients.
The bank till further instructions will not honor the cheque. Alfalah Musharakah Saving Account b. Current Account c. Drafts, Telephonic Transfers, Pay Orders These are the facilities that the bank offers its customers and, at times, to the people who do not maintain an account with the bank, that is, ordinary people.
For offering these services the bank charges commission besides the government taxes and duties. It maintains high emphasis on enlarging its Correspondent Banking network besides aiming to enhance the scope and level of cooperation with existing correspondents. The Trade finance department has efficiently done management of the changing trade policies by the central bank over there.
It uses television advertisements, newspaper as well as various promotional schemes to attract customers. The Bank sponsors a number of 31 sporting and community development initiatives to play its part as a responsible corporate citizen Promotion and Incentives Bank hires officers in range 1.
Then depending upon their job performance they are promoted to next range. More facilities and increments are given along with promotion. The bank gives a car facility to the officers of range 5. Also with the expansion of the branch network growth in the current era, more and more opportunities have been provoked not only for the young generation but also for the employees of the bank.
Bank Alfalah has adopted almost the same accounting procedures that other financial institutions are adopting at this time. The process flow and the usage of the policies in the day wise routine are mandatory for all the employees working in the specified departments at the branch. Recruitment Policy Hiring is mainly of two types i. By suitable candidates bank refers to candidates having proper educational qualification, experience and background.
Board of Directors is representative of sponsors. Bank is reluctant in making direct appointment of senior executives. EVPs are promoted from lower levels.
Every year Bank Alfalah opens its doors for about 30 fresh post-graduates to join the prestigious ranks of Management Trainee officers with the Bank. The MTO scheme is a highly competitive and sought after induction scheme, in which short-listed applicants 32 appear in a written test followed by a panel interview.
Com from reputable Pakistani or foreign institutions with GPA of 3 plus, or equivalent. Strong personal character, as well as communication and interpersonal skills are essential pre-requisites to succeed as an MTO. This training is been given in two instances, i-e, the Off-job training and the On-job Training. Alfalah also offers various computer-training courses to its employees. It is obligatory for each staff member of the bank to attend a minimum number of training courses during the course of a year.
Wherever the Training Department is unable to provide focused training for certain groups of staff, reputable external training providers are invited to fill the gap Quality assurance services Service excellence is one of the priorities of Bank Alfalah. A separate quality assurance department is to be established as well very soon for the removal of little flaws that are still prevailing at some of the branches regarding facilities for the consumers.
The focus of the bank is to develop new areas of activities along with traditional banking activities of resource mobilization and credit disbursement. Growth Policy Bank Alfalah emphasizes on growth along with providing best quality customer service. Liquidity Policy Bank Alfalah maintains positive and healthy liquidity. If necessary it can be easily converted into cash. Investments Policies Bank Alfalah investment policies are based on federal and provincial securities, debentures, and participation term certificates treasury bills and blue chip share of joint stock companies.
Job satisfaction is the major important factor to be considered while evaluating any organization. During my internship program, I observed being in touch with most of the employees over there, that all the employees are working with devotion that is the basis for job satisfaction. In addition all the employees are satisfied with the working ambiance, with the salaries and with the increments and promotions.
Only thing to be mentioned out over here is the workload and the employee timings for their job. Some of the employees are over burdened with the work. But that does not impact the overall job satisfaction of the organization. Bank takes much care of its employees because they are precious assets of 34 it. Bank celebrates birthdays of all employees, arrange trips and give them opportunity for recreation and enjoyment.
Bank hires officers in range 1. At Bank Alfalah the employees are very much satisfied with the job and the overall working conditions of the bank, so in due response, the bank is enjoying high efficiency in managing the time delays in reporting and working operations. The way managers treat the employees and an operative is outstanding at bank Alfalah.
This is the reason why each and every employee is pretty much satisfied with the job. Management must have to adopt some administrative style to get all the activities to be done effectively and efficiently. As far as the management styles at Alfalah Bank are concerned, there is both centralization and decentralization to some extent. Management must adopt some administrative style to get all the activities done effectively and efficiently.
As far as the management style at Bank Alfalah Limited Township Branch is concerned, there is centralization to a certain extent and decentralization in some other areas.
Management refers to the universal process of effectively and efficiently getting activities completed with and through other people. It is a process by which certain basic functions, that are planning, organizing, leading and controlling, are performed to achieve the desired objectives of the organization.
These functions are being performed at three levels in Bank Alfalah. His authoritative style is the requirement of administration. For the implementation of strategies and getting all the activities to be done properly with an organized environment, unity of command was the requirement of the time.
In his absence, I observed the environment of uncertainty and deregulation in the bank to a little extent. There is a sign of good delegation of authority for decision-making in Alfalah Bank at this level.
Department managers always ask his subordinates before referring the solution to a problem to the Branch Manager. So at this level employees are very much contended to their work. The key issues, which can arise due to strong authoritative actions by the management, can be of the following nature:
bank Alfalah internship Report
Finally I would like to thanks and dedicate my Bank Alfalah internship report to my lovely parents who love, pray, support and guide me in every part of life. Acknowledgement First of all I am very thankful to Almighty Allah who gave me knowledge and power to make me able to complete my internship successfully. In my internship many people have contributed in the successful completion of this internship report. Writing an internship report appeared to be a great experience to me. It added a lot to my knowledge during the working on this report. I would like to say that this report is one of my memorable experiences in my student life, and it would not be wrong.
Assignment Point - Solution for Best Assignment Paper
Financing of all brand new locally assembled vehicles. This certainly reaffirms our stance on giving clients maximum value for their money. Considering this product as the most lucrative mode of lending, and in view of its feasibility in the near future, BAL offers the most competitive mark- up rates in the market and provides a chance to the innumerable customers to make their dreams materialized through buying of their desired vehicles. The product has facilitated in creating strong brand recognition for BAL in the market. Car Financing has not only become a star product of BAL, but has also provided an impetus for successful launch of other consumer products.