BY: NABEEL KHALIQ

REG# 23965
BBA 8 D
ENROLLMENT NO:
02-111111-165

ACKNOWLEDGEMENT
Fore mostly; I thank Almighty ALLAH who rewarded me
with the ability to think, work and deliver to the best of my
potentials.
All my achievements are undoubtedly indebted to Bahria
University Karachi Campus, without its faculty cooperation it was not possible to complete this Internship
on time.
Last but not the least; I am thankful to the support of
Askari Bank for providing me the necessary facilities.
I would also like to thank my parents for their
unconditional love and concern that helped me to explore,
experience and understand the various aspects of life and
to help me improve and grow as a person.

Contents

AIMS AND OBJECTIVE OF THE INTERNSHIP................................2

INTRODUCTION TO ORGANIZATION..........................................3
INTRODUCTION TO DEPARTMENT.............................................4
Accounts Opening Department..........................................4
Foreign exchange Department...........................................4
Clearing Department.........................................................5
Remittance Department.....................................................5
NATURE OF THE WORK..6
ANALYSIS OF ASKARI BANK LTD...............................................7
EXPERIENCE AT ASKARI BANK..................................................8
RECOMMENDATIONS.9

AIMS AND OBJECTIVE OF THE INTERNSHIP

To learn the key skills required for the day to day operation in an
organization
To be able to apply theoretical concepts on practical projects.
To be able to tackle to the day to day challenges that an individual
may face on the job.
To experience the work environment in order to enhance skills in
corporate world.

INTRODUCTION TO ORGANIZATION
Askari Bank Ltd (formerly Askari Commercial Bank) was incorporated
in Pakistan on October 9, 1991, as a Company. The acquisition of Askari Bank's
shareholding stands completed and w.e.f June 21, 2013 the Banks major
shareholding has been acquired by Fauji Consortium; collectively holding 71.91
percent shares of the Bank. The change of sponsors has added further strength to
the Askari Brand and under the umbrella of The Fauji Group. LtGen Muhammad
Mustafa Khan, HI (M) (Retd) is the Chairman of the Board of Directors. Askari
Bank commenced operations on April 1, 1992.[2] The bank principally deals with
banking, as defined in the Banking Companies Ordinance, 1962. The Bank is listed
on the Karachi, Askari bank & Islamabad Stock Exchanges.
Askari Bank has expanded into a network of 265 branches, including 31 dedicated
Islamic banking branches, and a wholesale bank branch in Bahrain. A shared
network of 4,173 online ATMs covering all major cities in Pakistan supports the
delivery channels for customer service. Askari Bank achieved planned growth in
business and operations during 2009. The total assets of the Bank amounted to
Rs.254 billion as at December 31, 2009, registering an increase of 23 percent over
December 31, 2008.Customer deposits reached Rs.206 billion by December 31,
2009, an increase of 23 percent over December 31, 2008.
Profit after taxation showed an increase of 187% at Rs.1.11 billion, when
compared with last years Rs.386 million. The banking spread registered slight
improvement over last year, despite absorbing the adverse impact on net mark-up
income due to increased nonperforming advances. The Banks NPLs stood at
Rs.17.73 billion as of December 31, 2009 compared to Rs.11.69 billion at the end
of previous year, an increase of 52 percent.

INTRODUCTION TO DEPARTMENT
ACCOUNTS OPENING DEPARTMENT
Borrowing funds from different sources has become an essential feature of todays
business enterprises. But in the case of a bank borrowing funds from outside
parties is all more vital because the entire banking system is based on it. The
borrowed capital of bank is much greater than own capital. Banks borrowing is
mostly in the form of deposits. These deposits are lent out to different parties. Such
deposit creation is done through opening an account in the bank.

TYPES OF ACCOUNTS
In ABL, there are the following types of accounts:

Current account
Saving accounts
Term deposit
Askari Special deposit Account
Askari Bachat certificate
Notice Deposits
Foreign currency saving Account

FOREIGN EXCHANGE DEPARTMENT

ABL has been authorized by State Bank of Pakistan (SBP) to have dealing in
foreign currency. The foreign exchange departments provide facility of foreign
currency accounts (FACs) to Pakistani citizen and foreigners and facilitate its
clients in foreign trade. This facility is provided in shape of letter of credit (L.C),
and guarantee by the bank to the exporters and importers.

 CLEARING DEPARTMENT
There is no legal obligation on a banker to collect cheques drawn upon other banks
for a customer. However, it is function of almost every modern bank of collection
of cheques and bills on behalf of the customers. Clearing department services are
provided in order to make arrangements for the economic collection of cheques,
DDs pay and other negotiable instruments. A large part of this work is carried on
through the clearing house.

REMITTANCE DEPARTMENT
This department of ABL is concerned with transfer of money from one place to
another place that is transfer of funds

INSTRUMENTS OF BILLS AND REMITTANCE

DEPARTMENT
The instruments that are handled in the Remittance department are as follows:

Demand Draft
Telegraphic Transfer
Mail transfer
Pay order
Pay slip
IBC

NATURE OF THE WORK:

JOB DESCRIPTION AT ASKARI BANK LTD
I performed a lot of activities in 6 weeks internship:

1st Week experience:

Understand the work done in the department

Learned about different accounts and cheque
Seek the gap of buckets used for collection
Manager gave me list of customers profile to identify their CINC number
for managing the Lockers of customer.

2nd Week experience:

Started work in the accounts department.
Work In clearing department and deal with the customers directly.
Daily basis report of Clearing cheque and send to NIFT

3rd Week experience:

Make list of Customers in excel for every branch in south region
Manager gave me the list of customers to identified the newest customers
and make their list in excels

4th Week experience:

Work in remittance department.
5th & 6th Week experience:
Work in foreign exchange department and how bank involve in import and
exports of goods
Make separate files for importer ( beneficiary) and exporter ( applicant).
Learn how to deal with problem in short time period.

TRAINING ANALYSIS
During the 6 weeks period, I learned a lot of concepts and various activities which
will be very beneficial for me in near future. So during first 2 weeks, I learned
about how R.M.U works and what are their responsibilities in the overview of the
bank, My manager and colleagues were very frank to me and they didnt load any
work to me. During the first 2 weeks, they gave me some small tasks which were
easy to achieved and after that they gave me some challenging tasks that were
quite difficult to me. Sometimes they gave the tasks that were not the part of my
department like photocopy or printout or any external work. My main
accomplishment in my internship was I make a short analysis for recovering a loan
from customer. In reaction, my manager was very happy and they appreciated my
work but that day was my second last day of my 6 weeks period internship. Some
small tasks that were easy to me was prepared a list of customers in excel as VPHONE CARDs, LOGINS etc. It was an interesting experience because what I
learned during my internship program was more than the scope of an internee and

the experienced I gained through my internship at Askari Bank Ltd will be very
useful and beneficial for me in future perspective.

ANALYSIS OF ASKARI BANK LTD

STRENGTHS
Well qualified and highly experienced Board and senior management.
A variety of choice available to clients resulting from a wide product range
covering loan products, deposit options and money transfers; supported by
full coverage by loan insurance.
Extensive financing of otherwise excluded micro entrepreneurs and
availability of secured emergency lending sometimes used by farmers to
support agriculture.
WEAKNESSESS
Scope for clearer definition of target markets and more systematic tracking
of customer feedback
High estimated rate of dropout of clients; high product cost relative to South
Asian microfinance
OPPORTUNITIES
All the opportunities of the 21st century are to be availed in the information
technology. Information technology is the future. Therefore ABL should
emphasize much on IT.
ABL should emphasize on E - Banking. In which Bank can design a
universal account like other foreign banks, to enhance online facilities.
THREATS
Askari Bank is facing a strong competition by its major competitors; Union
Bank and Bank Alfalah. Business of these banks is also growing with very
high pace. So in order to achieve the sustainable growth in a market, ABL

has to remain vigilant about the ever changing environment and the
competitors.
All the competitors are using different means and methods to popularize
their product and services. So ABL should keep in mind that a customer
cannot come to the bank until he know that my demands will be fulfilled
over here.

EXPERIENCE AT ASKARI BANK

Askari banks internship program has been an enthralling experience for me,
I not only got to learn new skills but also was provided with an opportunity
to work on real time projects that hold immense importance in the policy
and decision making of the organization and are vital parts of day to day
operations of an organization.
The projects that I was provided with were diverse in nature and helped me
understand the key roles of the different departments as the rotation from
one department to other helps me to understand different skills.
Apart from the formal learning the experience of being at Askari bank at the
first place was a joy in itself the various days we celebrated helped us in
interacting with people from diverse background. In a nut shell my
experience at Askari bank was a sheer delight.

RECOMMENDATIONS
This is the fact that in this universe nothing is perfect. In every field of life there
are some pluses and minuses. But the best institutions are those, which learn from
the changing environment and competition. So it is necessary for them to keep
them update with the changing environment.
Although Askari bank Area Branch is one of the good branches in Askari bank but
there are few points that should be improved for more perfection.
As everything is computerized in Askari bank, the persons should be
properly trained in the computer systems.

10

 The ATM service should be provided 24 hours. Because customers feel upset
when most of the times the machine is out of order.
Under no circumstances cheque book should be given to the customer if the
account formalities are incomplete.
Cheques, which are drawn on Askari Commercial Bank Branch and returned
unpaid in clearing, are not reflected in the statement of account of the
Customers. This cheque must be reflected in the accounts so that credibility
of the customers may be assessed.
Audit should be held internally, rather there should be an audit department in
the branches to make audit on daily basis. This can become so, helpful as a
different banks are having this department of their own.
The Bank should try to give more loans to the small borrowers as the past
history shows that most of the loans given to the corporate borrowers have
converted into bad debts.
Evening banking should also be started in this branch.

11