Escolar Documentos
Profissional Documentos
Cultura Documentos
EXECUTIVE SUMMARY
Following privatization, Bank Alfalah emerged as new identity of
Habib Credit and Exchange Bank with a revived purpose and commitment.
Charged with the strength of Abu Dhabi consortium and under the
leadership of His Highness Sheikh Nahayan Mabarak Al-Nayayan, the bank
has already made significant contributions in building and strengthening
both corporate and retail banking sector in Pakistan.
Business Institutions 1
Bank Alfalah Ltd.
The graph of bank is going up and up every year. The ratio of profit is
increasing at good percentage. The bank is serving the people at high level
of standard by going according to the whishes of the customers.
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Bank Alfalah Ltd.
COMMERCIAL BANKING
SCENARIO IN PAKISTAN
Nationalization of Banks was not done 1st January 1974 under the
Nationalization act 1974, due to certain objectives. But it had negative
effects on efficiency of the banking sector afterwards a privatization
Commission was set up on January 22, 1991, the commission transferred
many banks to the private sector i.e., MCB & ABL. The government
approved & permitted the establishment of 10 new private banks in
1991;hence many new private banks have incorporated, since then, BANK
ALFALAH in one of the namely established private scheduled banks in
Pakistan.
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Bank Alfalah Ltd.
INTRODUCTION TO BANK
ALFALAH
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Bank Alfalah Ltd.
Charged with the strength of Abu Dhabi consortium, and under the
leadership of His Highness Sheikh Nahayan Mabarak Al-Nahayan, Minister
of Higher Education and Scientific Research, Government of Abu Dhabi,
and a prominent member of Royal Family, the bank is energized with the
vision, envisaging the development of various sectors in Pakistan.
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Bank Alfalah Ltd.
MISSION/OBJECTIVES
• Edge on competitors.
• High profits.
• Expansion of strong structure.
• Variety of Products.
• A good banking standard.
BANK BELIEVES
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Bank Alfalah Ltd.
BRANCHES NETWORK
KARACHI
• Main branch, B.A. Building, I.I. Chundrigar Road.
• Cloth Market Branch.
• Clifton Branch.
• Shahrah-e-Faisal Branch.
• Karachi (new Branch).
LAHORE
• Kashmir Road Branch.
• Gulberg Branch.
• Defense Branch
RAWALPINDI
• Mall Road Branch.
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Bank Alfalah Ltd.
OTHER BRANCHES
Other Branches are in:
• Sialkot.
• Islamabad.
• Peshawar.
• Multan.
• Faisalabad.
• Quetta.
• Sukkur.
• Hyderabad.
• Gujranwala.
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Bank Alfalah Ltd.
THE BOARD
B o a r d o f D i r e c t o r s
C h a i r m a n
S e c r e t a r y o f t h e
B o a r d
D i r e c t oD r i r e c t oD r i r e c t oC r E OD B i r e c t oD r i r e c t o r
( m e m ( Gb e o r v ) t . ( NG o o mv t .i n N a ot e m
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Bank Alfalah Ltd.
EXECUTIVE COMMITTEE
• Mr. Mohammad Saleem Akhtar.
• Mr. Ikram-ul-Majeed Sehgal.
• Mr. Parvez A. Shahid.
• Mr. Tanveer A. Khan.
• Mr. Mohammad Yousaf.
• Mr. M. Waqas Mohsin.
AUDITORS
• A.F. Ferguson & Co.
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Bank Alfalah Ltd.
Chartered Accountants.
ORGANIZATIONAL CHARTS
C O U N T R Y W I D E H I E R A R C H Y
P r e s i d e n t
C h i e f O p e r a t i n g
o f f i c e r
H e a d o f C oC u o n u t nr y t r y R iE s kx e c u t i v e E x e c u t i v e C h a r a c t e r
O p e r a t i o n sM a n a g e Vr i c e P r e s Vi d i ec en t P r e s i dA e c nc to u n t a n t
I n f o r m a t i o Cn o r p o r a t e B r a n c h B r a n c h
D e p a r t m e n Ht e a d s M a n a g e r s M a n a g e r s
o r g a n o g r a m o f A l f a l a h L t d .
A b d a l i R o a d , M u l t a n .
E x e c u t i v e V i c e P r e s i d e n t
A s i f A . S h e i k h .
A . E . V . P .
M r . Y a s i r G a r d e z i
O p e r a t i o n s FM o a r ne ai g g n e rE x Cc h r ea dn i g t s e & A d vA a c n c c o e u s t n t s
M r . A l i G a M r d r . e Mz i o h a m m a Md r S . y a a l es ie r m M r . M a s o o d A h m a
R e m a i n t t a n c e s
M r . H a s s a n
C l e a r i n g
M r . A n e e s
C a s h
M r . A q e e l , M r . J a w a d
A / C O p e n i n g
M r . S h o a l b R i z w a n
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Bank Alfalah Ltd.
FEATURES
Bank Alfalah Limited is and established bank. It has some special
features with the help of those it is growing rapidly.
EFFICIENCY
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Bank Alfalah Ltd.
CUSTOMER SERVICES
Getting ideas for improvement from customer side is a new idea and
that is working very well in Bank Alfalah Ltd. All the customers are asked
to fill a suggestion form and the standards of the bank are improved through
them.
EMPLOYEE BENEFITS
Employees are given the benefits like bonus, gratuity funds, loans,
increments, house rent, medical and conveyance.
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Bank Alfalah Ltd.
SHARE CAPITAL
PRODUCTS
ROYAL GROUP
Royal Group is a joint investment plan that allows individuals to invest
money collectively and earn higher rate of profit.
ROYAL PROFIT
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Bank Alfalah Ltd.
ROYAL PATRIOT
It is similar to term deposit. In term deposit one get no benefit of profit when
he withdraws his money before maturity date. But in case of Royal Patriot if
one withdraw his money before the maturity date, he can get the benefit of
profit. The profit rates for different periods are following:
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Bank Alfalah Ltd.
FINANCE POLICY
Bank Alfalah finance on short term basis only against current assets to
its customers in both corporate and consumer sectors. They don’t invest too
much in fixed assets. Maximum credit for short term is Rs. 50 Millions for
one party, they don’t go beyond five years financing.
FINANCING SCHEMES
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Bank Alfalah Ltd.
ALFALAH CAR
It’s a scheme that enables one to own his desired car at easily
affordable and flexible installments with a minimum down payment and
insurance.
SALIENT FEATURES
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Bank Alfalah Ltd.
MONTHLY INSTALLMENTS
Periods Factors
For 12 months 0.09072
For 24 months 0.04962
For 36 months 0.03609
For 48 months 0.02944
For 60 months 0.02553
ELIGIBILITY CRITERIA
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Bank Alfalah Ltd.
ACCOUNT OPENING
DEPARTMENT
TYPES OF ACCOUNT
♦ Current Account.
♦ Saving Account.
♦ Notice Deposit.
♦ Term Deposit.
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Bank Alfalah Ltd.
CURRENT ACCOUNT
SAVING ACCOUNT
NOTICE DEPOSITS
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Bank Alfalah Ltd.
♦ One for which a prior notice of 30 days and is required from the customer
before withdrawing deposited amount and for which rate return is 6.10%.
♦ Second for which a prior notice of 30 days and above is required from the
customer before withdrawing deposited amount and for which the rate of
return is 7.50 %.
TERM DEPOSIT
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Bank Alfalah Ltd.
Any minimum balance during the month is taken for calculating profit
SAVING A/C (05 DAYS _ MINIMUM MONTHLY
BALANCE).
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Bank Alfalah Ltd.
For the chequing account, there are different types of account holders are
required for all these types of account holders. The operation/procedure
requirement that is needed for “Individual Account” differs greatly from
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Bank Alfalah Ltd.
INDIVIDUAL’S ACCOUNT
DOCUMENTATION
OPERATION
• He/she fills in part 1 of the form, a fix his/her either two of four
similar signature ( or thumb expression in the signature space ) and
get it introduced and signed by a person who already has an account
with the bank and write his account number in the specific rows in a
specific space.
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Bank Alfalah Ltd.
• The person deposits the initial amount for opening account onto
the cash counter. The person put his signature on form on two places
in “authorized Signature” and fills in the “Title of Account” space by
writing his name.
JOINT ACCOUNT
DOCUMENTATION
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Bank Alfalah Ltd.
• Identification ( Introduction ).
OPERATION
• The person checks the type of account and type of operation
required in the respective box on the form.
• Account holders specified in the form that they will operate the
form singly or jointly.
PROPRIETORSHIP ACCOUNT
When the owner of the firm operating singly, open an account in his firm
name.
DOCUMENTATION
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Bank Alfalah Ltd.
• Copy of N.I.C.
• Status of the firm.
• Copy of Sole Proprietorship Declaration.
OPERATION
All operation remains the same, except that the firm name is written in
“title of account” area and Signature of the proprietor in the specified
area.
PARTNERSHIP ACCOUNT
The account is opened in the firm name and all partners designate one or
two persons to act behalf of the partnership firm all acts of the firm
jointly and serverly.
DOCUMENTATION
• Copy of N.I.C of all partners.
• Status of the firm ( In case of registered firm ).
• The attested copy of Partnership Deed (in case of registered
firm ).
• Operation of the A/C (as per deed).
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Bank Alfalah Ltd.
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Bank Alfalah Ltd.
OPERATION
All other requirements are same except that all partners dully sign the
form, cards are signed by all of those partners who will act on behalf of
the firm.
DOCUMENTATION
OPERATION
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Bank Alfalah Ltd.
DOCUMENTATION
• Copy of N.I.C of all partners.
• Articles and Memorandum of association.
• List of directors.
• Resolution of Board of Directors.
• Certificate of commencement of Business.
OPERATION
Operation is same as Private Limited Company
.
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Bank Alfalah Ltd.
RESPONSIBILITIES OF ACCOUNT
OPENING DEPARTMENT
• Documentation Intact.
• Proper Introduction.
• ChequeBook Issuing.
• Receiving Inward cheques.
• Account Closing.
• Every Day Posting.
ACCOUNT CLOSING
When a customer wants to close his account because of any reason, he
has to give a hand written application to the head of the Operations
Department to close his account, plus remaining leaves of the chequebook.
The Operations Manager first verifies the signatures of account holder, then
closing is done from the registers on the computer where the account was
opened. In the file of account holder, his account opening form is also
crossed.
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Bank Alfalah Ltd.
PROCEDURE
All the account opening formalities must be completed before, issuance
of cheque book. Particulars of the chequebook requisition should be
completed containing title of account, account number, type of currency,
number of leaves and signature of the customer. Signature of, the customer
are verified on the requisition.
If customer is unable to collect his chequebook, then he can give authority to
the 'third person to collect his cheque book' on his behalf by signing on the
back of .the requisition. In such case, the particulars of the third person are
required like name of the person, NIC number and signature of that person
on requisition and chequebook issuance register.
Stock of Cheque books are balanced at the end of each day and kept
under safe custody.
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Bank Alfalah Ltd.
Earlier in the banks were charging a fee for issuance of cheque book,
but now whenever a new account is opened, the account holder is issued a
cheque book free of charge.
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Bank Alfalah Ltd.
CASH DEPARTMENT
CASH DEPOSITS
Cash receiving officer receives cash along with pay-in slip from the
customer. He checks if the deposit slip is properly filled up containing title
of account, account number, date and amount in word and figures. He also
verifies signature. Detail on both counter file and cash receipt voucher
should be the same. Cash is received by the cash receiving officer, twice
counted and matched with the deposit slip. The cash details are written on
the back of the deposit slip and are also entered in cash receiving register.
Cash received stamp is affixed on the face of the deposit slip along with the
signature of the cash receiving officer.
Deposit slip and cash receiving register is given to the officer in cash
department. Again proper scrutiny is made by the officer cash department
both on cash receipt and cash receiving register. Officer cash department
signs both the deposit slip and register; Deposit slip is credited and posted in
the concerned account in the system.
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Bank Alfalah Ltd.
PAYMENT OF CHEQUES
The process for payment of cheques for local and foreign currency is
same. First the customer presents the cheque or holder to branch and the
particulars of cheque are properly filled in. Signature of the holder is taken
on the back of the cheque. Cheque handed over to the officer cash
department for scrutiny where officer checks the date, amount in words and
amount in figures, payee's name crossing if any, account number, cheque
serial number, any material alterations, endorsements and signature of the
customer. Account is debited and then the officer cancels cheque. It is
posted in the system and posting stamp and number is affixed on it. Cheque
is handed over to the cash payment officer for payment. One more signature
on the back of the cheque is taken from the holder to match with the first
one, and then cash is paid to the payee. Cash detail is written on the back of
the cheque. Cash paid stamp is affixed on the face of the cheque. Entry is
passed in the cash payment register.
If the payment is of Rs. 50000 the cashier can make it on its own. If
the amount is greater than Rs. 50000 to Rs. 100,000 the cashier and cash
deposit Incharge will verify the check and will sing it. Then the payment
will be made. But, if the amount is greater than Rs. 100000 to Rs. 1000,000
the manager operation will also verify the check and sign it so that the
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Bank Alfalah Ltd.
payment can be made. If the amount is greater than Rs. 1000,000 the Branch
Manager
Will also verify the check and sign it. Otherwise the payment will not
be made.
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Bank Alfalah Ltd.
CLEARING DEPARTMENT
In clearing, Mr. Anees remained so helpful. The clearing process
majority involves receiving the cheques and making payments. This process
can be inward or outward.
Clearing officer checks and verifies title of all the cheques deposited
by the customers to confirm the good title of the cheques. Cheques are
scrutinized properly and paying slips are separated from cheques. Special
crossing, endorsement and clearing stamps are affixed on the cheques.
Cheques of each bank are sorted and arranged branch wise. All the cheques
are then entered into the clearing system of the bank. Print out of the
clearing is taken and details are attached with the cheques of each bank.
Details of these banks are then entered into the clearing schedule containing
number of cheques presented and their total amount against the name of
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Bank Alfalah Ltd.
each bank. Then total number of cheques presented to all banks and their
total amount is written on the foot of that schedule, which is tallied with the
clearing register.
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Bank Alfalah Ltd.
REMITTANCES DEPARTMENT
The procedure for dealing with all these under local as well as foreign
currency in BAF is as under.
PAY ORDER
A pay order is a written order issued by a bank, drawn upon &
payable by itself, to pay a specified sum of money to or to the order of a
specified person.
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Bank Alfalah Ltd.
for total amount of instrument plus bank charges. Cheque and application
from is then given to the officer Cash Department for the payment of
cheque. After proper scrutiny, Officer Cash Department posts the cheque
and signs the application form in token of payment received. If the customer
wants to pay cash, then cash is deposited by the customer along with the
bank charges and withholding tax.
DEMAND DRAFT
A Demand Draft (DD) is an instrument, which is drawn by one bank
upon another bank for a specific sum of money payable on demand. It is
made by the bank, given to the purchaser against cash or cheque.
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Bank Alfalah Ltd.
TELEGRAPHIC TRANSFER
Sometimes, when the remittance is urgently required by the remitter,
Telegraphic Transfer (TT) is issued . TT may be issued to general public on
their written request and against the value received.
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Bank Alfalah Ltd.
the cheque. After proper scrutiny, Officer Cash Department posts the
cheque and signs the application form, to assure that payment is received. If
the customer wants to pay cash, it is deposited by the customer on cash
counter. Cash Receiving Officer receives cash n the application form along
with the bank charges and withholding tax. Application form is then given
to the Remittances Incharge for issuance of the instrument. He enters all the
particulars of the application form in the system (BPG) and computer gives
an Auto Control Number to the T. T.
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Bank Alfalah Ltd.
signatures of the authorized officers are verified on TTR and after proper
scrutiny, it is posted in the BPG and canceled by the remittances Incharge.
Procedure for Foreign Demand Draft Issuance:
After proper scrutiny, Officer Cash Department posts the cheque and
signs the application form, to assure that payment is received. Then cheque
and application form is given to Incharge Remittances, who will enter all
the particulars of the application in the FDD Issuance Register. If the
customer wants to pay cash, it is deposited by the customer on cash counter.
Cash Receiving Officer receives cash on the application form along with the
bank charges. Application form is then given to the Remittances Incharge
for the issuance of the instrument. A control number is allotted to the
instrument from FDD Register. Instrument is completed by putting all the
particulars in it and signed by two attorney holders. Instrument is then
handed over to the customer. FDD advice is sent to the responding foreign
bank/paying bank where they are maintaining dollar account through
registered mail. Exchange Transaction Credit Advice (ETCA) is sent to the
Head Office for the reimbursement. Copies of the FDD and ETCA are kept
in the record of the bank.
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Bank Alfalah Ltd.
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Bank Alfalah Ltd.
COLLECTION
All the cheques under collection are called cheques under Collection in
Bank Alfalah Limited. There are two types of bills for collection:
• Outward Bills for Collection
• Inward Bills for collection
OBC schedule is attached with the cheque and dispatched to the main
branch of that city for collection. If they do not have any branch in that city,
then cheque will be sent to the Collecting Agent of Bank Alfalah for that
city, and if they do not have any collecting agent even, then cheque can be
sent directly to the drawing branch. Instructions are given on the OBC
schedule for the payment of that cheque. Contra-liability vouchers are also
posted in the system. When OBC is realized, collection bank pays the
amount through IBCA if it is the same bank or through DD if it is another
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Bank Alfalah Ltd.
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Bank Alfalah Ltd.
Purpose of this policy is to set out the credit policies for the boar, which
will be implemented by the Credit Committee. The policies are described
under the following readings:
• Credit principles
• Portfolio limits
• Approval
• Administration
• Monitoring and review
1. CREDIT PRINCIPLES
It includes principles to be adopted for lending authority, approval,
monitoring and control on a basis consistent with Bank Alfalah Ltd.
The operational objectives and business strategies regarding objectives,
structure, performance and administration are also included.
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Bank Alfalah Ltd.
2. CREDIT PORTFOLIO
These are the guidelines set down by Credit Committee regarding:
• Total facilities
• Term facilities
3. CREDIT APPROVAL
When the terms and conditions are set and both parties are agreed, the
Credit committee makes approval for the credit.
4. CREDIT ADMINISTRATION
The credit application when handed over to Credit Administration,
then they critically examine securities given by client to bank against credit
facilities. Credit Administration keeps liaison with lawyers, surveyors,
valuators and other corporate bodies.
5. CREDIT MONITORING
The client can present his own account insurance policy as security
for credit. When he presents his own account as security, his account is
blocked for the same amount, which the bank is granting him. When the
facility is adjusted at that time, the blocking is released from the account.
Clients can also use third party’s account for getting credit. Shares can also
be kept as security in this case these are verified and duly signed. These are
kept separate to avoid theft. The company whose shares are used is informed
that its shares are in the custody of the bank.
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Bank Alfalah Ltd.
ADVANCES
Bank Alfalah Limited, Abdali Road Multan, provides the following
facilities in Advances Department:
• Funded facilities
• Non-funded facilities
FUNDED FACILITIES
These are the facilities in which funds like cash fund are included.
LPO
Goods purchased on behalf of bank and provided to customers.
PRE-SHIPMENT
It provides to prepare consignment. Maximum tenor is about 150
days. Profit may be 16% per annum. The repayment is generally from sale
proceeds. This is for preparation of consignment.
POST – SHIPMENT
During export process, funds are required for preparation of next
consignment that is provided by post-shipment facility. Maximum tenure is
150 days. Profit rate is about 15% per annum.
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Bank Alfalah Ltd.
CREDIT CARDS
Bank Alfalah has no credit card facility but, Inshallah, in March the
credit cards will be issued by bank.
ADVANCES IN 1999
Rs. 10,327,324,000 All in Local Currency
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Bank Alfalah Ltd.
FOREIGN EXCHANGE
DEPARTMENT
Foreign Exchanged Department deals within exports and imports. Mr.
Saleem at BAF supervises it. The bank acts as exporter as well as importer
bank for different parties who are in the business of export and import.
EXPORTS
EXPORTER
When the bank becomes the exporter bank for a party then the market
stability, reputation, financial position of the exporter is first of all checked.
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Bank Alfalah Ltd.
FORM – E
Government has provided facility to exporter in taking E-Form from
any bank and he can present it to any bank for negotiation.
Export Proceed Realization Certificate
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Bank Alfalah Ltd.
CERTIFICATE OF ORIGIN
This certificate shows that goods are from Pakistan.
COVERING SCHEDULE
If in covering schedule, it is given that “please remit proceed to our
Karachi Office A/C no. 5740734881 with ABN (Amro Bank New York),
USA for onward credit to BAF Multan.”
BENEFICIARY CERTIFICATE
If L/C requires some information as proof of anything from exporter
then exporter has to present beneficiary certificate for that proof.
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Bank Alfalah Ltd.
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Bank Alfalah Ltd.
E-FORM
E-form has four copies:
• One for custom officer
• One for exporter
• Triplicate copy for SBP
• Duplicate copy for bank
SWIFT
It is network among all banks. No other institute can get involved in it.
BILL OF LADING
Certificate from shipping company for loading documents. If
requirement of L/C is to issue Bill of Lading in favour of L/C opening bank,
then authorized dealer certificate will be provided by bank in favor of L/C
opening bank.
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Bank Alfalah Ltd.
IMPORTS
L/C is opened by the importer. There are two types of L/C.
• Revocable
• Irrevocable.
NECESSARY REQUIREMENT
If place of issue and port of loading is different on Bill of Lading, then
along with the stamp of shipment on board, vessel name and port of
shipment is written.
1) Issue date of Bill of Lading – shipment on board.
2) There should not be cutting on bill of lading without authentication.
3) Bill of lading should show capacity of agent. If bill of lading can be
taken by the agent of Importer Company, then his name should be
mentioned on bill of lading.
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Bank Alfalah Ltd.
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Bank Alfalah Ltd.
ACCOUNT DEPARTMENT
Most important department of bank as it is concerned with:
• Revenue
• Expenses
• Assets
• Liabilities
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Bank Alfalah Ltd.
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Bank Alfalah Ltd.
SWOT ANALYSIS
STRENGTHS
WEAKNESSES
• BCCI Image.
• Mixed Culture
• New Setup
• No ATM facility is provided
• No traveler cheques are issued.
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Bank Alfalah Ltd.
OPPORTUNITIES
• Information Technology.
• Credit Card Facility
• Internet Banking
• Establishing Foreign Branches
• Local Setup Expand
THREATS
• Competition
• Legal Reputation
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Bank Alfalah Ltd.
RECOMMENDATIONS
Finally, We are giving some suggestions for Bank Alfalah Limited.
These suggestions are based on our experience with bank.
• There are two officers involved in cash deposit process, which is time
consuming. Cashier should be given certain powers to receive cash of
US$, DM and L to provide prompt services.
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Bank Alfalah Ltd.
• Cheques, which are drawn on Bank Alfalah Branch and returned unpaid
in clearing, are not reflected in the Statement of Account of the
customers. These cheques must be reflected in the accounts so that
credibility of the customers may be assessed.
• Lockers, ATM, credit card, traveler cheques all these facilities should be
provided to attract more customers.
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Bank Alfalah Ltd.
MARKETING PRACTICES
ADOPTED BY BANK
Nowadays marketing of products is of prime importance for any
organization. In this dynamic environment, every organization has its own
Marketing Department, which is responsible for creating the demand of its
goods and services.
Bank Alfalah has its own full marketing Department at the Head
Office, Karachi. This department prepares different deposit schemes for its
customers, time to time, in order to increase the business of the bank. At
branch level, the Operations Department follows marketing practices. At
each branch of bank, officers are available to provide marketing activities of
their products.
They make customer calls and personally visit the potential customer
to convince them to invest in AFB. They make phone calls to customers and
inform them about their schemes, profit rates.
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Bank Alfalah Ltd.
CONCLUSION
BANK ALFALAH ( BAF ) under the leadership of Sheikh Nahayan
Mabarak Al-Nahayan has made significant in building of strengthening both
the corporate and retail banking sectors in Pakistan.
The Bank attained Number two (2) position in terms of its Balance
Sheet size amongst the private banks in Pakistan in 1999. The significant
improvements in terms of its results in comparison to the corresponding
period for the year 1998 have been much above the market expectations.
Balance Sheet footing of the Bank reached the level of Rs.21 Billion-an
increase of more than 46% over the previous year. Customer Deposits rose
by 33% on a year-to-year basis and stood at Rs.15.82 Billion. Bank
maintained a Capital adequacy ratio of over 13%, which is significantly
above the Basle guidelines and international requirement of 8%. The pre-tax
profit of the Bank also increased more than five (5) times as compared to the
previous year and stood at Rs.354 million for the year 1999. Bank’s
investment in the Financial Sector was based on the confidence of bank in
the country as a whole and it has been amply demonstrated by the growth
plans of bank though ambitious in nature but prudent and in line with the
potentials of the market place. Although the financial sector in general
witnessed some shrinkage, both in terms of downsizing and closure of
certain locations, the bank, however, continued with its expansion
programme and added five (5) new Branches in their network, one each in
Islamabad, Peshawar, Multan, Faisalabad and Lahore.
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Bank Alfalah Ltd.
They are aware that they have stepped into the 21st century and they
must meet its challenges by acquiring the highest levels of Technology.
They will thus be accelerating their enable them distribute their products and
services through most efficient and high-tech means. They say that they will
invest in the modern tools and substantial allocation of resources will be
made to achieve this objective during the current year. Their programme to
launch real time – on line Banking Services and introduction of ATMs at
strategic locations have been firmed up and it will be fully operational
during the year 2001.
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Bank Alfalah Ltd.
Based on the profit of Rs.354 million, the Board has proposed that a
cash dividend at a rate of Rs. 2.00 per share i.e. 20% of share capital be
distributed among the shareholders.
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