INTERNSHIP REPORT

Internship Report on Meezan Bank

By

MUHAMMAD ARSLAN

Roll No. F23BACFN7M01001

An Internship Report Submitted in Partial fulfilment for the

degree of BS Accounting and Finance 4 Years

2023-2025 (Fall)

In the

Department of Accounting and Finance

Institute of Business Management & Administrative Sciences

THE ISLAMIA UNIVERSITY OF BAHAWALPUR

 DECLARATION

I hereby declare that all information, documents, analysis and

results in this project have been collected and presented
according to the academic rules and ethical guidelines of
Department of Accounting and Finance, Institute of Business
Management and Administration Sciences (IBMAS), Islamia
University of Bahawalpur. I also declare that as required by
these rules and conduct, I have fully cited and referenced
information and data that are not original to this study.
 Dedication

I dedicate this internship report to my beloved parents, whose

endless prayers, support, and encouragement have been the
source of my strength and determination throughout my
academic journey. Their unwavering belief in me has always
motivated me to strive for excellence.
 Acknowledgement

The internship opportunity I had with Meezan Bank was a

great chance for learning and professional development.
Therefore, I consider myself as a lucky individual as I was
provided a chance to work in this organization. First and
foremost, I would like to express my thanks to Allah Almighty
who has given me the strength to finish my internship. I do
thanks for His blessings on my daily life, good health, healthy
mind and good ideas. I express my deepest thanks to Mia
Naveed Ahmad (Branch Manager), Muhammad Farrukh Saeed
(Operation Manager), and all other staff and employees of
Meezan Bank Mailsi for their careful and precious guidance
which are extremely helpful during my training session and for
the facilities that they arranged to make my work easier. I am
also highly thankful. To my faculty under whose able guidance
I completed my internship program successfully. I also pay my
gratitude and thanks to my siblings for their gentle
encouragement and support.
 Executive Summary

Pakistan after getting its independence, did not inherit a

strong banking industry and since then saw several events in
the industry, like the nationalization of banks in the 1970’s.
However today, the banking industry of Pakistan has been
growing over the past few years, mainly because of the
consistent policies implemented by the Government of
Pakistan, including the privatization of banks in Pakistan. Also,
the State Bank of Pakistan’s, monetary policy has been very
friendly toward the banking industry. There are number of
different banks established in Pakistan, including local
incorporated commercial banks, foreign incorporated
commercial banks, development financial institutions,
investment banks, discount & guarantee houses, housing
finance companies, venture capital companies, micro finance
banks and Islamic banks. Meezan Bank, Pakistan’s first and
largest Islamic bank, is a publicly listed company with a paid-
up capital of Rs.10 billion. It is one of the fastest growing
financial institutions in the banking sector of the country. With
its Vision of establishing ‘Islamic banking as banking of first
choice’ – the Bank commenced operations in 2002, after being
issued the first-ever Islamic commercial banking license by
the State Bank of Pakistan. Meezan Bank is publicly listed
company, first incorporated on January 27, 1997. It started
operations as an Islamic investment bank in August of the
same year, which has been licensed by the “State Bank of
Pakistan” to operate as an Islamic Commercial bank on 31st
January 2002. State Bank of Pakistan granted the Nation’s first
full-fledged commercial banking license of Islamic Banking to
Meezan bank Ltd.

CHAPTER 1
 INTRODUCTION

1.1 History and Background of Organization

Banking plays a very significant role in the economic
development of a country. After Partition of India and Pakistan
British Government’s commission distributed the reserves
between Pakistan and India. In August 1947, various Banks
transferred their headquarters and funds to India. Before
partition of Pak-o-Hind, some Banks were operated which were
Chartered Bank, Grind-lays Bank, Imperial Bank of India,
Australasia Bank and Habib Bank. After the independence of
Pakistan, Muslim Commercial Bank Limited, Bank of
Bahawalpur Limited, Punjab National Bank and National Bank
of Pakistan were providing banking facilities to public. The
State Bank of Pakistan was inaugurated by our great leader
Muhammad Ali Jinnah. On 1st July, 1948. Australasia Bank and
Habib Bank were providing facilities to the Pakistan’s nation.
After some period, Australasia Bank Limited was converted
into Allied Bank of Pakistan. State Bank of Pakistan is a
Central Bank of Pakistan. Other Banks are Commercial Banks,
Specialized Bank and Investment Banks. Pakistan’s banking
sector consisting of Islamic Banks, Private Banks, Public Sector
Banks, and Micro Finance Banks. These Banks are doing
Corporate Banking, Trade Financing, Lease Financing and
some Banks are providing online banking facilities, ATM facility
and money transfer facilities also. Quaid’s Concept of Islamic
Banking

“I shall watch with keenness the work of your Research

Organization in evolving banking practices compatible with
Islamic ideas of social and economic life. The economic
system of the West has created almost insoluble problems for
humanity and to many of us it appears that only a miracle can
save it from disaster that is now facing the world. It has failed
to do justice between man and man to eradicate friction from
the international field. On the contrary, it was largely
responsible for the two world wars in the last half century.

The Western world, despite its advantages of mechanization

and industrial efficiency is today in a worse mess than ever
before in history. The adoption of Western economic theory
and practice will not help us in achieving our goal of creating a
happy and contended people. We must work our destiny in our
own way and present to the world an economic system based
on true Islamic concept of equality of manhood and social
justice. We will thereby be fulfilling our mission as Muslims
and giving to humanity the message of peace which alone can
save it and secure the welfare, happiness and prosperity of
mankind. “Quaid-e-Azam Mohammad Ali Jinnah Founder of the
Islamic Republic of Pakistan on the Opening Ceremony of The
State Bank of Pakistan on July 1, 1948.

Shariah Compliance
The root word of is (wafq) which means 'according to'. Means
conformity and accordance with Shariah. Shariah-compliance
is the core value which defines the very existence of Meezan
Bank. Since its very inception, the Bank has had an aim that is
unified across all branches, all business units and all services:
absolute and unwavering adherence to the principles of
Shariah! It is this commitment that has enabled us to achieve
the remarkable successes that Meezan Bank is known for,
Alhamdulillah. With a team of the most capable and renowned
Shariah scholars comprising our Shariah Board, we cannot just
deliver a Riba-free banking experience to our customers, but
also develop new and innovative banking products that are
designed to delight our customers, whilst addressing their
needs - all the while staying within the bounds of Shariah.

1.2 Historical Overview

 I. 1991: Procedure adopted by banks in 1985 was declared
un-Islamic by the Federal Shariat Court (FSC). The
Government and some banks/DFIs made appeals to the
Shariat Appellate Bench (SAB) of the Supreme Court of
Pakistan.
II. 1997: Al-Meezan Investment Bank is established with a
mandate to pursue Islamic Banking. Mr. Irfan Siddiqui
appointed as first and founding Chief Executive Officer.
III. 1999: The Shariat Appellate Bench of the Supreme Court
of Pakistan rejects the appeals and directs all laws on
interest banking to cease. The government sets up a
high-level commission, task forces and committees to
institute and promote Islamic banking on parallel basis
with conventional system.
IV. 2001: The Shariah Supervisory Board is established at
Al-Meezan Investment Bank led by Justice (Retd.)
Muhammad Taqi Usmani as Chairman. State Bank of
Pakistan sets criteria for establishment of Islamic
commercial banks in private sector and subsidiaries and
stand-alone branches by existing commercial banks to
conduct Islamic banking in the country.
V. 2002: Meezan Bank acquires the Pakistan operations of
Society General and concurrently Al Meezan Investment
Bank converts itself into a full-fledged Islamic
commercial bank. The first Islamic banking license is
issued to the Bank and it is renamed Meezan Bank.
VI. 2003: Meezan Bank establishes itself as the pioneer of
Islamic Banking in Pakistan and quickly establishes
branches in all major cities of the country. A wide range
of products are developed and launched. Al Meezan
Investment Management Limited (AMIM), the asset
finished goods.
VII. 2009: The branch network management arm of Meezan
Bank, introduces Meezan
VIII. Islamic Fund (MIF), the country’s first open-end Islamic
Mutual Fund.
IX. 2004: The State Bank establishes a dedicated Islamic
Banking Department (IBD) by merging the Islamic
Economics Division of the Research Department with the
Islamic Banking Division of the Banking Policy
Department. A Shariah Board has been appointed to
regulate and approve guidelines for the emerging
Islamic Banking industry. The Government of Pakistan
awards the mandate for debut of international Sukuk
(Bond) offering for USD 500 million. The offering is a
success and establishes a benchmark for Pakistan.
Meezan Bank acts as the Shariah Structuring Advisor for
this transaction.
X. 2006: 62 branches in 21 cities
XI. 2007: Bank’s branch network reached the milestone
number of 100 branches. The Bank introduced Istisna'
financing to cater to the working capital needs of
customers.
XII. 2008: Meezan Bank introduced Tijarah financing to allow
customers to raise funds for financing of stocks of
reached 201 branches (including sub-branches) in 54
cities nationwide.
XIII. 2010: The Bank developed Meezan Business Plus, a
Mudaraba-based account that offers an array of free
services for businesses, Meezan Euro Savings Account
and Meezan Pound Savings Account. Bank’s branch
network reached 222 branches in 63 cities across
Pakistan.
XIV. 2011: The inauguration of the new Head office in
Karachi. During the year, 53 branches were opened to
 reach a landmark of 275 branches in 83 cities across
Pakistan. • 2013: Over 350 branches in over 100 cities
On 18 October 2014, the Bank acquired the HSBC
Pakistan operations. After conversion of the business
and branches of HSBC Pakistan to Meezan Bank; the
HSBC Pakistan Accounts and Term Deposit Receipts
(TDRs) converted to Meezan Bank accounts and
Certificates of Islamic Investments (COIIs).
XV. 2014: Meezan bank reaches a branch network of 428
branches in 117 cities. The bank acquired Pakistan
operations of HSBC mobile banking application
launched.
XVI. 2015: Agreement signed with Karandaz Pakistan.
Meezan Upaisa the first Islamic branchless banking
service launched successfully.
XVII. 2016: Launch of new corporate website.

1.3 Vision Statement

Establish Islamic banking as banking of first choice to facilitate

the implementation of an equitable economic system,
providing a strong foundation for establishing a fair and just
society for mankind.

1.4 Mission Statement

To be a premier Islamic bank, offering a one-stop shop for

innovative value-added products and services to our
customers within the bounds of Shariah, while optimizing the
stakeholders value through an organizational culture based on
learning, fairness, respect for individual enterprise and
performance.

Our Values
Shariah-compliance, Integrity, Professionalism, Innovation,
Service Excellence, Social Responsibility. Staff that is
committed, motivated and professionally trained and who are
empathic to their customers’ needs.

1,5 Branch Network

Meezan bank has 983 branches in more than 327 cities across
Pakistan. Meezan bank is the largest Islamic bank in Pakistan.
This is the milestone that is not only the success story of
Meezan bank but also the success story of Islamic banking in
Pakistan. With this existing potential Meezan, our existing and
potential customers are now closer than ever in benefiting
from Islamic banking at their doorsteps. All branches provide
real time online banking facilities.

1.5.1Products/Services

Following are the main products and services which are

provided by the Meezan bank: Bank Accounts

There are different types of accounts which fall under this

category:

1 Current Accounts

You can open four different types of current account with us in

both local and foreign currency:

2 Rupee Account

Meezan Current Account is a Rupee-based current account

that provides you the convenience of putting your money in a
Riba-free account and accessing it without any restrictions on
withdrawal while enjoying a host of professional conveniences
from Meezan Bank. Meezan Current Account is based on Qard
contract where the Bank is liable to pay your money back on
demand. The Bank can use these funds for investment and
other purposes. This account allows you the peace of mind of
having your money safely deposited with a bank with the
additional assurance that the Bank is not investing your
money in activities that contravene Shariah principles. Meezan
Current Account can be opened by Individuals, Sole-
Proprietorships, Partnerships and Limited Companies.

It has the following key features:

•Minimum investment for account opening is PKR 1000/-

•Provide online branch banking facilities.

•Avail completely free internet banking.

•No Restrictions on withdrawal or transaction.

•Provide Free Takaful Coverage.

3 Dollar Current Account.

Dollar account is based on Qard contract where bank is liable

to pay your money back on demand. The bank can use these
funds for investment purposes. This Account allows you the
peace of mind of having your money safely investing your
money in activities that contravene Shariah Principles. It is
therefore an excellent business tool. It has the following key
features:

•Minimum deposit requires to open an account is $100.

•Routine withdrawals up to $500 per day allowed without

prior intimation.

•Withdrawals of above $500 needs 1-day prior notice

•Receive Foreign Remittances.

•Free Takaful Coverage* up to Rs. 1 million in case of an

Accidental Death and Permanent Disability.
•No deduction of service charges if the balance maintained is
low.

4 Euro Current Account

Dollar account is based on Qard contract where bank is liable

to pay your money back on demand. The bank can use these
funds for investment purposes. This Account allows you the
peace of mind of having your money safely investing your
money in activities that contravene Shariah Principles. It is
therefore an excellent business tool. It has the following key
features:

•Minimum deposit required to open an account is €100.

•Routine withdrawals up to €500 per day allowed without

prior intimation.

•Withdrawals of above €500 needs 1-day prior notice.

•Receive Foreign Remittances.

5 Saving Accounts (truly halal Savings)

You can open following different types of savings accounts

with us, both in local and foreign currency:

6 Rupee Saving Account

The Riba-free Rupee Saving Account is a basic banking

account for every customer's need. The account provides
expected monthly returns along with a variety of free
packaged benefits. On agreeing to become a Rupee Saving
Account holder, the customer enters into a relationship based
on Mudaraba with Meezan Bank. Under this relationship, the
customer is an Investor (Rab-ul-Maal) and the Bank is the
Manager (Mudarib) of the funds deposited by the customers.
The Bank allocates the funds received from the customers to a
deposit pool; funds from the pool are utilized to provide
financing to customers under Islamic modes that include, but
are not restricted to Murabaha, Ijarah, Istisna and Diminishing
Musharkah. Meezan Rupee Saving Account can be opened by
Individuals, SoleProprietorships, Partnerships and Limited
Companies. Bank will share the 50% of gross income as
Mudarib, depositor will share the 50% of gross income as Rab-
ul-Maal.

7 Dollar Saving account

The Riba-free Dollar Savings Account is a Mudarabah-based

savings account that you can open and operate using US
Dollars and is therefore an excellent business tool for both
individuals and corporate clients for meeting their business
needs and for diversifying their investment in different foreign
currencies to safeguard against currency fluctuations.

Meezan Dollar Savings Account can be opened by Individuals

and businesses including Sole Proprietorships, Partnerships
and Limited Companies.

8 Euro Saving account

The Riba-free Euro Savings Account is a Mudarabah-based

savings account that you can open and operate using Euros
and is therefore an excellent business tool for both individuals
and corporate clients for meeting their business needs and for
diversifying their investment in different foreign currencies to
safeguard against currency fluctuations. Meezan Euro Savings
Account can be opened by Individuals and businesses
including Sole Proprietorships, Partnerships and Limited
Companies.

Special Saving Account (For you diverse saving needs):

We offer four unique types of special savings accounts to suit
your various requirements:

9 Meezan Bachat Account

Meezan Bachat Account is a unique saving account that

provides high expected monthly returns with the flexibility to
withdraw savings if needed. Meezan Bachat Account offers a
higher expected rate of return with nearly the same
convenience and service of a regular savings account. Meezan
Bachat Account can be opened by Salaried or Self-employed,
Housewives and Retired individuals

It has the following key features:

•Minimum deposit required to open an account is Rs. 50,000/-.

•Free Internet Banking facility.

•Profit payment is made to your Meezan Bank account

monthly.

•Profit will be calculated on the Daily Product Basis.

•Profit will be calculated on the Daily Product Basis.

•A lower weightage will be applicable in the whole amount for

profit calculation if the daily closing balance of the account
exceeds a specified threshold (currently Rs. 25,000,000/-).

10 Labaik Saving Account

Meezan Labbaik Saving Asaan is an ideal deposit product for

you if you are an individual saver and wish to save for your
spouse, children, parents, etc. You can take benefit from this
special Mudarabah based Deposit account (available in six
months to twenty years’ plan) for Umrah & Hajj where you will
also be entitled for profit on the deposited amount, thus
providing Customers a bigger incentive to save for Umrah/Hajj
through Meezan
Labbaik Saving Asaan. Meezan Labbaik Saving Asaan Account
can be opened by

Individuals.

It has the following key features:

•Minimum deposit required to open an account is Rs. 1,000/-

•Minimum deposit required to open an account is Rs. 1,000/-

•Customers can deposit additional amounts to complete the

deposit amount and make the desired journey sooner.

•Customers will deposit monthly contribution as per the

deposit schedule plan.

•After completion of the desired deposit amount, customers

will have a right to travel with Meezan Bank or redeem their
funds to go with an alternate company.

•Customers may redeem 50% of the contribution as per

defined procedure, onetime in the entire deposit tenure.

•Labbaik Saving Account is a non-chequing account, where no

cheque book or VISA Debit Card will be issued.

11 Kids Club Account

Are you still not 12 years old? Then Meezan Bank has
something very special for you; a chance of having your own
Mudarabah-based Meezan Kids Club Account. You can now put
all your pocket money, Eidi and all your other cash in this
account, where it will be safe and invested in line with Islamic
principles. When you get, this account opened, you will get to
learn a lot more about managing your savings. We will also
make sure you have fun while learning to save the right way. It
has the following key features:
•Open your account with Rs 500/- only.

•Specifically, for kids under the age of 12 years

•Exciting gifts on account opening.

•Exciting gifts on account opening.

•Free personalized “Kids Club Certificate”.

•Personalized Cheque Book. Free first Visa Debit Card in

different colors for boys and girls.

•Upgrade to a Meezan Teens Club Account after your 12th

birthday.

12 Meezan Teen Clubs Account

Meezan Teens Club Account is a Mudarabah- based

relationship where you will be the Investor (Rab-ul-Maal) and
the Bank will be the Manager (Mudarib). Your funds will be
utilized by the Bank to provide Islamic financing to customers.
Meezan Bank is a keen Socially Responsible Organization and
realizing this responsibility, the Teens Club Account aims to
provide a forum to teens where their maturing minds are
groomed in a modern yet Islamic way. The Teens Club Account
provides a blend of fun learning with special focus on
character and value building. It has the following key features:

•Open your account with Rs. 1000/- only.

•Specially for teens of 12 to 18 years of age.

•Free personalized “Teens Club Certificate”

•Free personalized “Teens Club Certificate”. Meezan Asaan

Accounts (Banking at its simplest) You can open two types of
Asaan account:
1 Asaan Current

The Riba-free Meezan Asaan Current Account is another

addition to the offerings of Meezan bank. Meezan Asaan
Account opens the doors of banking products and services to
those customers who have limited proof of source of income.
The account can be opened with just Rs. 100/- and a valid
CNIC/ SNIC / Passport / National Identity Card for Overseas
Pakistanis (NICOP) / Pakistan Origin Card (POC) / Alien
Registration Card (ARC) issued by National Aliens Registration
Authority (NARA) / Pension Book. (Meezan Asaan Current
Account is meant for resident individuals having Pakistani
nationality only).

2 Asaan Saving Account:

The Riba-free Meezan Asaan Savings Account is another

addition to the offerings of Meezan bank. Meezan Asaan
Account opens the doors of banking products and services to
those customers who have limited proof of source of income.
The account can be opened with just Rs. 100/- and a valid
CNIC/ SNIC / Passport / National Identity Card for Overseas
Pakistanis (NICOP) / Pakistan Origin Card (POC) / Alien
Registration Card (ARC) issued by National Aliens /
Registration Authority (NARA) / Pension Book. (Meezan Asaan
Savings Account is meant for resident individuals having
Pakistani nationality only).

13 Meezan Business Accounts

These accounts are convenient, flexible and suited for

business. Following accounts are falling in this category:

1 Meezan Business Plus Account

Meezan Business Plus is a Mudaraba-based account that

allows you to conduct your banking transactions while availing
a wide range of free services and therefore provides you the
ideal blend of convenience & flexibility that you deserve in
Islamic banking. Meezan Business Plus Account can be opened
by Individuals and businesses including Sole Proprietorships,
Partnerships and Limited Companies. It has the following key
features:

•Minimum investment required to open an account is Rs.

100/- • There is no restriction on withdrawals or numbers of
transactions.

•Free Cheque books** and free Pay Orders.

•Free Account Statements**

•There is no deduction of service charges if the balance

maintained is low.

•Free SMS alert service*.

•Free Takaful Coverage* up to Rs. 1 million in case of an

Accidental Death and Permanent Disability.

•Free ATM Takaful Coverage* up to Card Limit.

•Withdraw money as many times as you need in a single day.

•Free** Pay Orders and no charges for Pay Order Cancellation.

•Free Inter City Clearing.

•Free Hold Mail Facility.

•Withdraw money as many times as you need in a single day.

Other Services

Following are the other services provided which comes under

operation department:

1.6.Term Deposits:
Meezan bank provides truly halal returns on complete range of
short term and long term deposit certificate. It consists of the
following type of certificates:

1 Certificate of Islamic investment:

The Certificate of Islamic Investment (COII) is a Mudarabah-

based deposit product through which you can invest your
savings for periods ranging from 3 months to 5 years and earn
Halal profit on a periodic basis.

2 Meezan Amdan Certificate

Meezan Amdan Certificate (MAC) is a Mudarabah-based long-

term deposit product that offers a high expected return to
investors and is ideal for those individuals and corporate
clients who need a regular stream of monthly income.

3 Monthly Mudarbah Certificate

The Riba-Free Monthly Mudarabah Certificate (MMC) is a short-

term deposit product which has been designed to give you
expected monthly returns.

4 Dollar Mudarbah Certificate:

Dollar Mudarabah Certificate (DMC) is a deposit product

through which you can invest your US Dollars with Meezan
Bank for periods ranging from 3 months to 3 years and earn
six-monthly or at maturity profit payments on your
investment.

1.7 Consumer Finance

Consumer finance includes the car Ijarah, bike Ijarah, and

other household items Ijarah including LED, Fridge etc.

1.7.1 Meezan Car Ijarah

Car Ijarah is Meezan Bank’s car financing product and is
Pakistan’s first Interest-free car financing. It is based on the
Islamic financing mode of Ijarah (leasing). This product is ideal
for individuals who want to get interest-free financing for
acquiring a car. Car Ijarah works through a car rental
agreement, under which the Bank purchases the car and rents
it out to the customer for a period of 1 to 7 years, agreed at
the time of the contract. Upon completion of the Ijarah period,
the vehicle will be sold at a token amount or gifted to the
customer.

1.7.2 Home Remittance

The fast and reliable way to send money home. Meezan Easy
Remit is a Home Remittance service which provides an easy,
fast and reliable way for Pakistanis who are working abroad to
send money to their families and relatives living in Pakistan.
The money sent from abroad can be immediately collected
from any branch of Meezan Bank which has a strong presence
of more than 570 branches and 146 cities in Pakistan.

Ways to send money

•Receive cash payment up to Rs. 500,000 from any branch of

Meezan Bank without having to open an account.

•Instant and real time credit to the beneficiary's Meezan Bank

account at any branch in Pakistan.

•Transfer money to customers of other banks through the

Real Time Gross Settlement system (RTGS).

•Transfer money to any 1-Link member bank instantly and

real-time.

•A real-time funds transfer in M-Wallets.

1.8 Premium Banking

Meezan Premium Banking is a prestigious way of Islamic
banking specially designed to meet your financial needs.
Experience your banking needs with our Premium Banking
services and value-added benefits available to you from our
personalized and free banking services to customary
discounts and privileges tailored to your lifestyle at finest
retail outlets, restaurants and hotels across the country. A
prestigious banking relationship that is based on our three
pillars of commitment:

•We understand your banking needs and are committed to

deliver you exceptional level of service and attention that is
both exclusive and responsive.

•We offer you a suite of world class Shariah-compliant

financial solutions that address all your priorities from value
added products and services, exclusive banking channels to
lifestyle privileges.

•We recognize your relationship with us, and rewarding it with

exclusive benefits to meet your financial needs.

Benefits and privileges of Premium Banking As our Premium

Banking customer, you enjoy exclusive Benefits and
Privileges. Due to your Premium relationship status with the
Bank, these benefits and privileges are also offered to your
joint account-holders. Like you, they also enjoy the Premium
Banking Benefits with us.

1.8.1 Visa Platinum Debit Card

•Free of charge issuance of Visa Platinum Debit Card.

•Higher ATM Cash Withdrawal and POS Limits. (ATM Cash

Withdrawal limit of Rs. 100K per day and POS limit of Rs. 300K
per day).
1.8.2 International CIP Lounge

•Free of charge access to International CIP lounges at Karachi,

Lahore, Sialkot, Multan and Islamabad airports.

•Avail exclusive services including comfortable seating

arrangement, information desk featuring flight details,
internet, fax & telephone facility and more.

•Card Holder, 1 Guest and 1 Children up to age 12 are

allowed free of charge.

1 Free Waivers:

Avail free waivers on the following transactions:

•Cheque Stop Payment.

•Locker annual Fees.

•Issuance of Bank Certificates.

•Issuance of pay Order.

2 No Processing fees:

Avail processing fee waivers on the following Consumer

Financing products:

•Car Ijarah

•Easy Home

•Laptop Ease

•Meezan Roshni

1.8 Meezan Upaisa Service

Meezan Bank is the first bank to provide Islamic branchless

banking. To support the financial inclusion and expand the
reach of Riba-free banking services, Meezan Upaisa enables
every citizen of Pakistan to send and receive money
nationwide using their original CNIC.Through this first Islamic
Branchless Banking service of the world, launched in
collaboration with Ufone, an Etisalat group company, you may
also pay Utility/ISP/Phone Bills anywhere, anytime in Pakistan.

1.8.3 Money Transfer

Whether you are a person working in urban area or wish to

send money back to your home to your parents or you are a
parent need to send money to your children studying in
another city, this reliable service ensures you that your money
reaches safely and timely.

1.8.4 Bills Payment

Meezan Upaisa introduces the most convenient and simple

way yet to make your bill payments. Through Meezan Upaisa’s
bill payment service, you will be able to pay your electricity,
gas, telephone, and Telco/ISP Postpaid bills at any Ufone
franchise, Service Center or Meezan Upaisa retailer.

It has the following key features:

o Pay everywhere, anywhere: Now you have the choice of

easily paying your bills through the vast network of
Ufone franchises, service centers or Meezan Upaisa
retailers.
o 24/7 availability: Meezan Upaisa services are available
24/7 so you can pay your bills at any time of the day or
night, 7 days a week from all Ufone franchises, customer
care centers or Meezan Upaisa retailers.
o Guaranteed secure process: All bill payments are fully
secure and protected. You will receive a confirmatory
 SMS of the successful payment of your bill
authenticating your transaction.

1.8.5 Mobile Top-ups:

By using Meezan Upaisa retailers, you can top up any prepaid

number or pay the bill of any postpaid number at any given
time no matter where you are; It has the following key
features:

•This service is available on all telecom numbers.

•It’s convenient fast and easy.

1.9 Corporate Banking

This banking sector of Meezan bank limited provides the

following services:

•Working Capital Finance.

•Project Financing for existing Corporate having expansion or

BMR requirements

•Islamic Export Refinance Facility (Part I and Part II).

•Trade Related Service.

1.10 SME Banking:

This banking sector of Meezan bank limited provides the

following services:

•Working Capital Finance.

•Project Financing, Expansion or BMR Requirements.

•Islamic Export Refinance Facility.

•Trade Related Service.

1.10.1 Cash Department Services

Cash department is the most important department of the
bank. It receives Cash from the customer and then deposit it
in to the accounts of customers and maintained their
balances. This is the most important and critical department
in the bank. There are two basic functions performed by the
cash department.

1.10.2 Receipts

An individual who has account in the Bank can deposit money

in his account. For deposit of the money the individual must
fill the deposit slip in which the account holder writes his
name, Account number, amount of the money both in figures
and in words. After filling the deposit slip the Cash amount
along with the deposit slip is submitted with the cashier. The
cashier collects the cash and counts it and after verification
the cashier stamps the deposit slip. One part of the deposit
slip is given back to the customer and the other part of the
deposit slip remains with the bank for the record purposes.
The cashier also record the deposits made by the customers in
credit sheets daily. The deposits of all customers of the bank
are controlled by mean of ledger account. Every customer has
its own ledger account and has separate ledger cards in which
his / her total record is kept. Bill collection is also one of the
main functions of bank. Cashier must prepare a list of bills’
serial number, a copy of which is to be sent to the
corresponding organization.

1.10.3 Payments:

The procedure of clearance of a cheque or payments is as

following. First, the customer presents his cheque to the
cashier. The cashier records the account number and the
amount, which is to be drawn. Then the cashier check the
cheque number in the computer for the verification whether
the account holder has such amount in his account which he is
demanding or not. If the computer passes the cheque, the
Passing officer signs the cheque and sent it to the cash
counter then cashier pays the written amount to the customer
and then in the end cashier records the amount paid in
computer.

1.11 General Profile of Meezan Bank

Meezan Bank, Pakistan’s first and largest Islamic bank, is a

publicly listed company with a paid-up capital of Rs. 10 billion.
It is one of the fastest growing financial institutions in the
banking sector of the country. With its Vision of establishing
‘Islamic banking as banking of first choice’ – the Bank
commenced operations in 2002, after being issued the first-
ever Islamic commercial banking license by the State Bank of
Pakistan. The Bank provides a comprehensive range of Islamic
banking products and services through a retail banking
network of more than 550 branches in more than 140 cities of
the country. Backed by a state-of-the art T-24 core banking
system, the branch network is supported by 24/7 banking
services that include over 550 ATMs, VISA and MasterCard
Debit cards, a Call Center, Internet Banking, Mobile
Application and SMS Banking facility. Cater to the unbanked
population the Bank also offers Branchless Banking services
through Meezan Upaisa - World’s first Islamic Branchless
Banking. The Bank operates strictly under the principles of
Islamic Shariah and is well-recognized for its product
development capability, Islamic banking research and
advisory services. In order to ensure strict Shariahcompliance
in all its products and services, the Bank has established a
dedicated Product Development and Shariah Compliance
department that operates under the supervision of the Bank’s
in-house Resident Shariah Board Member and a Shariah
Supervisory Board comprising of internationally renowned
Shariah scholars. Meezan Bank stands amongst the top
Islamic Banks globally. Islamic Finance News – Malaysia has
awarded the Bank with two global awards for the year 2015 -
‘Best Islamic Retail Bank’ and a third position in the Overall
Islamic Bank’s category. The Bank has also been rated as the
‘Best Islamic Bank of the Region’ per South Asian Disclosure
Index.

1.12 Organizational Structure of Meezan Bank Limited

1.12.1 Shariah Supervisory Board

The letter and transmittal of Islamic banking rest upon

absolute adherence to the Shariah. The foundations of strong
sharia underpinning at Meezan bank were laid from the
beginning. A world-renowned sharia supervisory board and a
highly qualified in house Shariah advisor are fundamental
factors of bank core USP.The primary role of this board is to
maintain and further strengthen this commitment and to
ensure strict sharia compliance in all bank operations. The
members of sharia supervisory board of Meezan bank are
renowned internationally scholars, serving on the board of
many Islamic banks operating in different countries. The
members of Board are:

 Justice (Retd.) Muhammad Taqi Usmani (Chairman)

 Dr. Abdul Sattar Abu Ghuddah
 Sheikh Essam M. Ishaq
 Dr. Muhammad Imran Ashraf Usmani (Advisor)

1.12.2 Board of Directors

The board of directors of Meezan bank are:

 H. E. Sheikh Ebrahim Bin Khalifa Al-Khalifa (Chairman)

(Minister of Housing, Ministry of Housing, Kingdom of Bahrain)

 Mr. Naser Abdul Mohsen Al-Marri (Vice Chairman)

  Mr. Jassar Dakheel Al-Jassar
 Mr. Rana Ahmed Humayun
 Mr. Mohammed Azzaroog Rajab

1.12.3 Business Segments:

The business segment of Meezan bank are:

o Retail Banking, SME, Commercial and Agriculture (Ijaz

Farooq)
o Treasury and Financial institutions (Muhammad Abdullah
Ahmad)
o Corporate and Investment Banking (Syed Amir)
o Consumer Finance (Arshad Majeed)

1.13 Meezan Bank Organization Chart

1.13.1 The Meezan Team

Meezan Bank is managed by a team of professional bankers

committed to the cause of Islamic banking. This single
unifying factor unleashes the tremendous power of dedicated
and motivated team committed to the Vision and Mission of
this bank. The business segments of the Bank are:

 Corporate Banking
 Investment Banking
 Commercial Banking and SME
 Consumer Banking
 Treasury & Financial Institutions
 Asset Management (managed through a subsidiary
Investment Management.)
 Retail Banking is organized in seven regions across
Pakistan, namely South-I Region,
 South-II Region, South-III Region, Lahore Region,
Faisalabad Region, Multan
 Region, and North Region
1.13.2 Departments/Sections of Meezan Bank Limited

There are following two main departments of MBL which

further sub divided into different sections which are as follow:

1.Personal Banking Department:

o Bank Accounts
o Term deposits
o Consumer Finance
o Home remittance
o Meezan Upaisa
o Premium Banking
o Business Banking Department:
o SME Business Banking
o Corporate Banking
o Islamic Advisory Services
o Agricultural Finance
o Correspondent Banking
o Asset Management

Following is given the brief Description of each department:

1.13.3 Personal Banking

Personal Banking department basically directly related with

the customer this department holds the asset or the deposit of
the bank which comes from the accounts and accounts related
to the customers, this department is handled by BDO’s
(Business Development Officer), PBO (Personal Banking
Officer) and other employees also all of the employees have
supposed to bring the targeted deposit in the bank through
providing valuable services to the customers.

1. Account Opening Department

This department is responsible for the new customers account
opening procedure, and many other services relating to the
other services like providing ATM, Cheque books, MS alerts
and E-Statement related to the accounts of the customers:

Meezan Bank Offers its customers Individual, Sole-Proprietor

and Joint accounts.

Following are the types of accounts Meezan Bank

Offers:

o Meezan Rupee Saving Account

o Meezan Rupee Current Account
o Meezan Asaan Saving account
o Meezan Asaan Current Account
o Meezan Bachat Account
o Meezan kids club Account
o Meezan teen Club Account
o Meezan Business Plus Account
o Meezan Foreign Currency Account
o Labaik Saving Account

2. Term Deposits

Meezan Bank provides a complete range of short term and

long term deposit certificates with the flexibility of monthly,
quarterly, semi-annual and annual returns. It includes the
following products and services:

 Certificate of Islamic Investment (Periodic profit from 3

months to 5 years)
o Meezan Amdan certificate
o Meezan Mudarbah certificate
o Dollar Mudarbah certificate

3. Consumer Finance
Consumer Finance includes the Ijarah of house hold products
including Car Ijarah, Bike Ijarah, LED, Fridge etc.

4. Home remittance

Meezan Easy Remit is a Home Remittance service which

provides an easy, fast and reliable way for Pakistanis who are
working abroad to send money to their families and relatives
living in Pakistan. The money sent from abroad can be
immediately collected from any branch of Meezan Bank which
has a strong presence of more than 570 branches and 146
cities in Pakistan.

5. Meezan U-paisa

To support the financial inclusion and expand the reach of

Riba-free banking services, Meezan Upaisa enables every
citizen of Pakistan to send and receive money nationwide
using their original CNIC. Through this first Islamic Branchless
Banking service of the world, launched in collaboration with
Ufone, an Etisalat group company, you may also pay
Utility/ISP/Phone Bills anywhere, anytime in Pakistan.

1.13.3 Premium Banking

Meezan Premium Banking is a prestigious way of Islamic

banking specially designed to meet your financial needs.
Experience your banking needs with our Premium Banking
services and value added benefits available to you from our
personalized and free banking services to customary
discounts and privileges tailored to your lifestyle at finest
retail outlets, restaurants and hotels across the country.

1. Business Banking Department:

Business Banking includes the following Banking departments:

1.1Small Business banking department:

Meezan Bank provides Shariah compliant banking services like
financing, trade and deposit related services to small &
medium sized enterprises. We combine the expertise of in-
house product specialists and Shariah scholars to provide
Sharia compliant financing solutions to meet the working
capital finance, import finance, export re-finance long-term
finance, documentary credit requirements and project
financing needs of our customers.

Eligibility Criteria:

1.2 Small Enterprises

Annual Sales Turnover: up to Rs.150 Mn

Number of employees: Up to 50 Max Financing allowed: up to

Rs.25 Mn

1.3 Medium enterprises:

Annual Sales Turnover: Rs.150 Mn up to Rs.800 Mn

Number of employees: 51 to 250 (Manufacturing & Service

Concerns) - 51 to 100 (Trading Concerns)

Max Financing allowed: up to Rs.200 Mn

1.13.4 Corporate Banking

We provide a comprehensive range of financial services to

large number of corporate clients including multinationals and
public sector entities, by partnering with them to build long-
term relationships. By drawing on the expertise of in-house
product specialists and Shariah scholars working under the
guidance of our Shariah Supervisory Board, we, at Meezan
Bank can provide Shariah-compliant financing solutions to
meet the working capital finance, import finance, export re-
finance, long-term finance, documentary credit requirements
and project financing needs of our customers.
Our Corporate Banking relationship teams work closely with
Treasury, Cash Management, Investment Banking, Commercial
Banking and Consumer Banking departments to develop and
deliver value added banking products that fulfill the diverse
business needs of our corporate clients.

1. Corporate Assets:

Over the years, Meezan bank has been able to grow its
corporate assets portfolio considerably despite the challenges.
With a focused development strategy, we have been able to
build a healthy and well diversified portfolio that has resulted
in our corporate assets book to grow at a CAGR of 31% per
annum over the last 5 Years.

2. Corporate Trade Business:

The Bank’s trade business (import and export) performed very

well in 2016 in both volume and income and registered a
growth of 20% and 27.5%, respectively, notwithstanding the
fact that exports of the country dropped by 13% during the
year. The total trade business volume in 2016 crossed Rs 552
billion.

3. Islamic Advisory Services

In line with our vision of establishing Islamic Banking as

banking of first choice, Meezan Bank believes in working for
the larger benefit of the society. Meezan Bank has the unique
combination of experts in areas like Islamic law &
Jurisprudence, Accounting, Auditing, Capital Markets,
Corporate Finance and Islamic Finance. Our expertise,
accumulated over the years, enables us to provide world class
service and unmatched Shariah-compliant solutions to most
sophisticated problems in a timely manner. We’re working to
expand the market, not merely our market share. The
continuous interaction with the academia has enabled us to
produce a stream of expert practitioners-cum-trainers. Our
trainings are not only backed by solid theoretical foundations,
they are continuously updated based on real life experiences.
Our case studies help learners gain hands-on experience of
various aspects of Islamic finance.

4. Islamic Capital Market Services

Skuk Structuring:

As a leader in structured finance products, Meezan Bank has

been involved in Sukuk Structuring, Shariah Advisory and
Syndication/Consortium financing, lead-managing a number of
new Shariah-compliant Sukuk issues and syndicated
transactions with its corporate clients. IFAS provides
assistance in execution of Sukuk transactions and
development of Sukuk structures based on client-specific
requirements. Our multi-layered approach enables both
commercial and Shariah considerations to be incorporated
into proposed structures. Emphasis is placed on developing
structures to achieve wide Shariah acceptance and
marketability of Sukuk.

Mutual Funds:

Mutual Funds are an important financial intermediary in

developing markets where capital markets are volatile and
investors do not have the expertise, savings and time to
devote themselves to making a well-diversified profitable and
Shariah-compliant portfolio. Islamic investment principles
require persistent Shariah Compliance. Islamic Mutual Funds
are therefore catering to this important need and we provide
them with technical expertise in managing their portfolios in
Shariah-compliant manner.

Stock Market Indices:

Meezan Bank has initiated the formation and subsequent
management of a domestic Islamic Market Index i.e. KMI-30
index in collaboration with Karachi Stock Exchange (now
Pakistan Stock Exchange PSX). Shariah Compliance is
necessary not only at the time of IPO, but it also encompasses
all operations of the enterprise at all stages of the
organizational life cycle.

1.13.5 Agricultural Finance

Meezan Bank is recognized as the leader and trendsetter in

Islamic Banking in Pakistan by it being the first to provide a
myriad of Shariah-compliant financial products for both
domestic and corporate customers. Continuing this tradition,
Meezan Bank has also launched Islamic Agricultural Finance to
enable the farming sector to avail Shariahcompliant financing
for their needs.

In addition to other permissible modes of financing, the Bank

offers the following specific agricultural products finance.

It provides following services:

•Meezan Tractor Asaan

•Meezan Agri Asaan

•Meezan Fasal Asaan

1.13.6 Correspondent Banking

Financial Institutions, a part of the Treasury and F.I. Group,

primarily focuses on building and maintaining relationships
within the Financial sector. Relations range from authenticated
communication links by way of SWIFT RMA to Trade, Treasury
and account maintenance in different currencies worldwide.
With over 360 banks in 86 countries, our 600 globally located
correspondents provide all trade services, seeking to add
value and service to our branches and functional units.
Services include advising, confirmation, discounting of letter
of credits, reimbursement undertakings and standby LCs and
guarantees. Further, the ever-increasing SWIFT RMA
relationships with financial institutions serve to route all kinds
of transactions.

Asset Management

Al Meezan is the largest fund manager in private sector in

Pakistan and the Only Shariah compliant Asset Management
Company in Pakistan. Al Meezan has successfully completed
20 years of its existence in 2015. This is one of the longest
track records in private sector in investment management in
Pakistan and has emerged as one of Pakistan’s leading
investment solutions providers in a Shariah compliant manner.
The Shariah Advisor of Meezan Bank Limited, also the Shariah
Advisor of Al Meezan, supervises the operations to ensure
Shariah compliance of the funds. Following services are
provided by this department:

•Developing, floating and managing Islamic Mutual Funds.

•Structuring and managing Discretionary and Non-

Discretionary.

•Providing Investment Advisory Services.

SWOT Analysis of Meezan Bank Limited

SWOT Analysis can be very helpful for every organization to

get large number of benefits by just checking their Strengths,
Weaknesses, Opportunities and Threats. In SWOT two types of
factors are calculated internal factors are Strengths and
Weaknesses where External factors are Opportunities and
Threats. SWOT Analysis tells the accurate position of business
and tells what type of actions should be taken by
Managements to improve the organization

Meezan Bank being a quality organization strives to provide

quality to all its stakeholders, customers, employees and
environment. In Pakistan, it is operating in a very volatile
economic and political environment. I have summarized its
major strengths, weaknesses, opportunities and threats in the
following paragraph:

STRENGTHS

 MBL has the privilege to be the first Islamic banking

sector which gives a competitive edge over all other
banks and being the pioneer of this industry MBL is
enjoying major share of it.
 The largest Islamic banking sector with 571 branches
nationwide.
 Strong growth of its Islamic banking SBU.
 The members of its Shariah supervisory board of MBL
are internationally renowned scholars, serving on the
boards of many Islamic banks operating in different
countries. ➢ Dedicated professional staff.
 The working environment of the bank is very friendly
and cooperative. There is no bossiness in the higher
management. The upper management consults its staff
in making decisions and provides them independence in
their job areas. For the objective is performance and not
conformance with the boss.
 Online banking service means that a customer can
withdraw and deposit his money at any branch in the
country. Where this service is not present, cheque must
be presented only in that branch on which they are
drawn. But with this facility, a person has access to its
funds at any branch of the bank. That would mean that
 any person who has an account with the bank, has an
account in 24 branches of it. It provides a lot of comfort
and convenience to the customers.
 Being an Islamic bank, MBL has a wide national network.
As an emerging markets bank, it has branches in all the
major cities of Pakistan with the facility of online
banking, it is very easy for its customers to transact all
over the country.
 Attention and sensitivity to the competition prevailing in
the country.
 Strong shareholding

WEAKNESSESS

 Meezan Bank Limited has no Credit card facility.

 The Islamic economic system is not something that can
work in isolation of the geo-political and legislative
system, as well as, and more importantly the society's
behaviors towards the injunctions of Islamic Shariah in
personal and collective matters. Accordingly, one can
easily imagine that in an economy whereby most of the
businessmen are not honest in fairly presenting the
financial statements of their businesses, how difficult it
is to introduce a profit-and-loss sharing based financial
solution.
 Lengthy & extensive documentation.
 Lack of promotions and advertising of their products and
service.
 High charges for different activities such as online or
Demand Draft as compared to competitors.
 It was observed in the bank that the degree of
satisfaction of the employees was quite low. First, the
pays are lower those offered in other banks. Secondly,
the employees are given targets that are too difficult to
 achieve. For example, the targets given to the personnel
in sales and services department are higher than
another bank in the country, be it a local bank or a
foreign bank. This makes the job too stressful and
tensed It is good to keep the people under a continuous
move, but to overstress them can be harmful to them
and as well as to the organization.

OPPORTUNITIES

 House financing sector can be targeted to maximize the

profit.
 Growing demand of Islamic financial product and
services.
 Venturing into Islamic groups outside the countries as
opportunity to expand business in UAE and Golf states.
i.e. financial institutions.
 Coming up with. Products for the SME to targeting the
medium level customers.
 Doing business with companies having Islamic mindset.
I-e Islamic financial Institutions.
 Increase branch network within the country.
 To open overseas branches throughout the world like
National Bank of Pakistan and Habib Bank Limited or
merger with other foreign banks outside Pakistan.
Increasing focus/target on different types of customers,
MBL can open women branches, especially in those
areas where women class want to get involved but
couldn’t due to environmental restriction.
 The formation of new and energetic marketing teams
can increase the disbursement of loans and new
customers can be searched out.
  They can capture a large portion of the market, if they
expand its ATM and branch network to other countries of
the as well.

THREATS

 New competitors setting up their Islamic banking

sections and they have the infrastructure, skill, ability,
resources & attitude to capture the market more than
the Meezan bank.
 Rising customers’ expectations
 Change in Government's attitude towards Islamic
banking.
 Fears on the credibility of Islamic banking ethical
compliance and monitoring systems.
 High Interest Rate from SBP
 SBP has not special policy regarding Islamic Banking.
 Govt. policies are mostly for conventional banking
system not for specially designed for Islamic banking.
 Fears on the credibility of Islamic banking ethical
compliance and monitoring systems.
 CHAPTER 2

2.1 INTERNSHIP ACTIVITIES

2.1.1 Work done by me

In Meezan Bank limited I really enjoyed working with the bank

staff of MBL Mailsi branch and having a wish to be an
employee of this organization following the Islamic discipline.
It was very difficult to work in different departments of bank
within limited time but on my request, the bank staff provides
me an opportunity to work in different departments for the
sake of practical knowledge.

I started my internship from 17st June 2024 till 01th August

2024 and duration of my internship is 6 weeks. The staff of
branch is much cooperative. They imparted my training in all
departments of the branch i.e. customer service, clearing,
remittance and account opening. On the first day of my
internship, the branch manager asked me some questions
about my studies. He told me some basic rules and
regulations about banking operation and introduced me with
other staff members of the Bank, and introduce me with
employees working in MBL Mailsi branch.

I have done the following activities during my

internship:

•Filling Cheques

•Filling deposit slips

•Issuance of cheque book

•Remittance Printout

•Filling Account Opening Form

•Online funds transfer

•Pay Order

•Other General Banking Activities

2.1.2 Filling Cheques

For filling the Cheques, we may write the date, payee, amount
in words and figures then one signature of customer in front
and two behind cheque.

2.1.3 Filling Deposit Slips

For filling the deposit slips the name, account number, amount
in words and figures branch name and signature of depositor
are necessary.

2.1.4 Issuance of cheque Books

For issuing cheque book the signature of customer are

necessary.

2.1.5 Remittance Printout

For foreign Remittance, pin code, branch name, CNIC number

of beneficiaries,

Beneficiary’s name, CNIC expiry date, Mobile number of

beneficiaries, sender name and city is noted down on
remittance form and the signature of beneficiary is taken and
original ID card is seen.

2.1.6 Filling Account Opening Form:

For account opening forms the CNIC number, mobile number,

CNIC copies Next of kin’s CNIC copy, customer personal and

professional information is necessary. For thumb account the

photos of customers are also necessary.

2.1.7 Online Funds Transfer

For online transfer, the account of customer is necessary and
amount is written in words and figures.

2.1.8 Pay Order

Pay order are negotiable instrument used for transferring the

amount from one place to another place safely. Pay order is
payable on specific branch of same bank which is written on
the face of pay order.

2.2 Other Banking Activities

Also, doing other general banking activities with my branch

staff such as verification of documents, filling of branch
documents, and many more.

Names of Departments

o .Account Opening Department

o Clearing Department
o Remittance Department
o Cash Department

2.2.1 Account Opening Department:

At the start of my internship, I started my work at account

opening Department where I learned how to open an account
what are the basic requirements for a customer for account
opening and which documents are required for further
procedure Ans also learned how many accounts are used in
bank like

o Single
o JOINT Personal
o Sole Proprietorship

The requirement for these types of account opening are:

 o Select the nature of the account
o Original CNIC or Copy of CNIC
o Permanent Residential address
o Photos
o The reference of any person who has already an
account.
o The other information related to the account filled on
choice of applicant.
o Signatures are done on form as well as on “Signature
Specimen Card (SS Card)” there should be no cutting or
over writing specially on SS card. The signature on SS
Card scanned into the computer as a record in the
computer.
o The requirements for opening the above-mentioned
account are given below:
1. For Single/Normal Account:
o Original CNIC must be originally seen by the Personal
Banking Officer and its copy is attached to the form.
o If signatures are not strong/ or signatures are simple
than photos of the person required and thumb
impression is taken on the SS Card.
o Source of Income or Salary slip must be required.
o If residential or mailing address is change as per CNIC
than an under taking is attached with the form.

And if the signatures differ from CNIC than also undertaking

attached with form on which both signatures are taken as per
form or as per CNIC.

1. For Partnership:
o CNIC copies of all partners must be required and
they are originally seen by the PBO.
 o Attested Copy of partnership deed dully signed by
all partners of firm.
o Attested copy of Registration Certificate with
register of Firm. In case the partnersh ip is
unregistered this fact should be clearly mentioned
on the a/c opening form.
o Authority letter, in original, in favor of the person
authorized to operate on the a/c of the firm.

2. For trust Account:

o Attested Copy of certificate of registration.
o List of all members/leading person that lead to
trust.
o Copy of CNIC of all members must be required.
o Visit report is also attached with the form and the
visit is done by branch manager.

These are all the requirement for all types of account opening
forms. I personally filled up many forms here for the sake of
learning and practice, it tale too much time to gather the
information from the customer. I learn about different about of
stamps which are necessary for account opening. And learn
about the use of the stamps on the right place. Following
stamps are required to be use on account t opening form:

•Signature Verified

•Signature admitted

•Void

•Picture Admitted

•Original Seen

•PBO stamp

•Operation manager Stamp

•Branch Manager Stamp

•L.t, R.t thumb

•Time, Date stamp on the front page of form.

After form completion and proper Stamping, Nadra verisys is

attached and the form is authorized by operation manager,
and after that PBO, Operation manager and branch manager
do their signatures on their specified place. And the complete
procedure is given below:

2.2.2 Account Opening Form

This department relates to open new accounts. Customers

approach to Bank and an Account Opening Form is given to
him for completing and signing the same. After completed
account opening form in all respect and checked by the bank
officer and properly signed by the customer which is also
verified by the Operation Manager. Specimen Signature Card
are got signed from the customer and after verifying the
information written there in, Customers are given account
number and all this information are saved in the system.
•Completion of the Form

After completed account opening form in all respect and

checked by the bank officer and properly signed by the
customer which is also verified by the Operation Manager.

•Specimen Signature Card (SSC)

Specimen Signature Card are got signed form the customer

and after verifying the information written there in, Customers
are given account number and all this information are saved in
the system.

•Signature Difference Form

The signature of the client is taken on a signature difference

form if his signature differs from the CNIC.

•Computerized Checking

After filling in the form, the officer connected via internet

enters the record of his customer, then the officer of the bank
authenticates the record under his signature and stamp and
send it to the Branch Manager. This is known as CIF.

•Account Number

After completion of all formalities, an account number is

allotted to the customer and all the information are recorded
in the computer. After completion of all procedures, the bank
prepares a letter and sends it to the client at his postal
address to pay gratitude to the customer.

•Cheque Book Issuance

Cheque Book requisition for first Cheque book is send to Head

Office, Karachi for issuance the same. The Cheque book
consists of 25 leaves and the charges of the cheque books are
10 Rs. Per leaf so if the person is opening ASAAN account than
116 rupees including tax have been deducted, and if Normal
account than 250 rupees have been deducted. And the
cheque book will receive from 3-4 working days after the
activation of account. When Cheque books received in branch
call are made to inform customers that they can receive it
from bank and when customer receives the cheque book
signatures are taken from customers on cheque book
receiving register.

•ATM Card Issuance

Meezan Bank limited provides the ATM facility to its Customers

and they can withdraw their amount at any time through ATM.
ATM card requisition is also sent to head office, Karachi for the
issuance of ATM card.

Meezan bank offers following 3 types of ATM cards to its

customers:

 Silver Card (Transaction Limit up to 50000, and charges

696 along with tax) ✓ Gold Card (Transaction limit up to
100000 and charges 1044 along with tax)
 Master Card (Transaction limit is up to 150000 and
charges 1392 along with tax)

It also takes 3-4 working days for the processing after account
activation. When Card is received in branch than the calls
are made to make them aware of that their card has been
reached in branch, when customer comes signature are taken
from him on ATM Card Register. For activation of ATM,
customer has to call the help line (111-331-331).
• Procedure for Closing of an account

Whenever a customer wants to close the account, he fills up

an account closing form and signs there in, account balance
should be zero, approval is taken from the Branch Manager,
specimen card is taken back and is attached with the form and
account is closed.

1. Locker Operation

Locker facility is also available at all the branches of MBL for

keeping the valuables their in. As for as privacy is concerned,
lockers are located in a specially designed area protected with
strong room doors and grills under the control of two officers,
operated by use of Master Key and Customers Key supplied to
the customer at the time of locker is rented out. Lockers are
three types: small, medium and large lockers. Security fee of
locker is Rs. 5000 which is refundable when locker is
surrendered and charges(rent) for Small Rs. 2500, for Medium
Rs. 3500 and for Large Rs. 5000 per annum. The process for
providing a locker is as follow:

A separate application form is complete and signed by the

customer along with a copy of CINC with two photographs.
After completing all the formalities, a locker is allocated to the
applicant and Key is given to him with locker identification
card. And whenever customer have to use the locker, he has
to bring his card every time and entry is recorder in the locker
operation register where locker number, name of attendant,
Time in and Time out is noted down and the signature of the
customer is taken. Locker operation is a very critical and
confidential task so only the authorize person of bank have
this right to operate the locker. And I have just recorded the
entry of locker operation.
2. Stop Payment Procedure

For stopping the payment, Bank takes sign of the customer on

stop payment form where in account number with date and
amount of cheque is written. Customers also mention the
reason of stop payment then Bank mark that cheque as stop
payment. The bank will not make payments of these Cheques.
And the charges deducted for stop payments are 580 rupees
rather they are 1 or 2.

3. Clearing Department:

Clearing department work with provision used for settlements

of proceeds of cheque among different through the medium of
a clearing house. I learnt they’re about Clearing of different
Cheques. I was told there the main objects of clearing. After
making entries in outward and inward clearing registers. All
the Cheques are sent to NIFT (National Institutional Facilitation
Technology). I have also Worked in the clearing department.

NIFT:

NIFT stand for National Institutional Facilitation Technologies.

Clearing House of SBP has shifted a part of its work to private
institution named NIFT. NIFT collects Cheques from all
branches of different Banks within city through its carriers and
send them to the branches on which these are drawn for
clearing. NIFT prepares a sheet for each branch and send it to
each branch as well as to State Bank of Pakistan where
accounts of Banks are settled.
Types of Clearing:

There are following two types of clearing:

Inward Clearing

When Cheques of other Banks are deposited in our bank, after

clearing these Cheques through NIFT by the other Banks on
which these are drawn. Accounts of the customers are
credited. Afterwards the they check the amount in the
specified account, signature are accurate and authentic and
there are accurate date and stamping is done than clearing
takes place.

Outward Clearing:

When Cheques of our bank are deposited in other Banks and

these Cheques are sent to us for verification, we debit the
account of our client after verification of their account. Nift
person comes daily to branch for purpose of receiving checks
for clearing. On cheque transfer funds following four stamps
must be required:

• Signature Verified
• Payee’s Account Credited
• Authorized Date
• Meezan Bank Ltd.

4. Remittance Department

Meezan Easy Remit is a Home Remittance service which

provides an easy, fast and reliable way for Pakistanis who are
working abroad to send money to their families and relatives
living in Pakistan. The money sent from abroad can be
immediately collected from any branch of Meezan Bank which
has a strong presence of more than 570 branches and 146
cities in Pakistan. The Procedure for home remittances is as
follow:
  Customer takes the Remittance print out and fill it out
which contains the basic information like Pin code,
Amount, Beneficiary’s CNIC number, Beneficiary’s name,
Beneficiary’s address, Beneficiary’s mobile number and
Sender’s name and city, at the customer must put his
signatures.
 Then customer takes this form to the authorized person
who deals the whole procedure he checks the original
CNIC of Beneficiary and Verified the payment.
 After verification customer submit his CNIC copy and
after proper authorization, customer went to cashier
counter for the payment.

5. Cash Department

Cash department is usually to collect and deliver cash. When

a customer comes to the bank and wants to issue or deposit
amount comes to the cash counter to give or receives
amount.

So, it is the cash officer’s duty to deposit or withdraw the

amount after verification of signature or account number of
the customer. Cash officer checks the balance and then pay
the amount to the customer. The banker make journal and
ledger to enter notify the customer account all the entry is
done in the system, and take print of those entry to keep
record, and check all the entry are recording right head of
account. So, all the cash dealings occurred in the banks are
over to cash officer and the cash officer is responsible for all
the deposits or withdrawals.
6. Service Quality Department

In this department, I worked from 24th August 4th September

where I learnt a lot about floor time management and quality
assurance affairs in branch.

•Floor Time Management:

While standing near the main gate bank ensures that

customers coming into MBL are properly looked after. Bank
also creates a sense of ownership of service quality and
develops a service mindset and ultimately a quality service
culture at MBL .

•Responsibilities of Floor Time Management:

Bank maintains and file daily working sheet of Floor Time

Management and record customer’s complaints in the CRM.
Bank monitors daily log of TAT sheet and put up it to Branch
Manager. Complaint handling and its follow up is made on
daily basis.

•Responsibilities of Lead Floor Manager/ Floor

Manager:

Lead Floor Manager welcomes all the customers and

introduces himself with a smiling face and checks branch
cleanliness and pleasant atmosphere in the branch. He also
checks availability customers stationary at proper places as
well as maintain the notice board and assist in SQ. Individual
customers are provided comprehensive services.
 CHAPTER 3

SUMMARY AND RECOMMENDATIONS

3.1 Summary

I spent six weeks of my internship at MBL Mailsi branch.

During these six weeks, I feel myself be a part of bank. Even
this was my experience of working in a bank, but I learned a
lot in from my very first experience. Business of the bank is
quite up to the mark keeping in view the standard of banking
industry. Bank is located at colony chook road Where Soneri
Bank Limited, Faysal Bank Limited are also doing business in
the same area but Meezan Bank limited is competing with all
these banks and increasing its clients. Bank is giving better
services to its customers as well as better facilities to its
employees, its employees are making an untiring effort to
increase the profit of the company on year-to-year basis as
well as time their best to increase the wealth of the
shareholders.
 3.2 Recommendations

Based on my experience &observation regarding the

operations and policies of Meezan

Bank, I have tried to show some problems and

recommendations for further improvement:•The employee
turnover is very high which they must cut down as they are
losing several good trained employees.

•Lack of awareness of Islamic banking in general public.

•The employees usually face work over loaded problems.

•Branches increases but business of Meezan bank may not

increase with same speed.

•As for as I have observed during my training, the bank should

improve the services given to the customers so that they may
feel satisfied. Bank should increase its products to enhance its
margin so that it may compete in the market.

When it comes to financial ratios, Meezan Bank's current ratio

is lower than the ideal level. This means the bank might have
trouble meeting its short-term obligations. In 2008, the bank’s
working capital (current assets minus current liabilities) was
negative, which is not a good sign. Although it became
positive in 2009 and 2010, it was still lower than expected.
The bank should increase its working capital to improve its
ability to pay short-term debts.

The debt ratio of the bank was:

• 0.9299 in 2008

•0.9960 in 2009

•0.9284 in 2010
These high numbers show that the bank relies heavily on
borrowed money, meaning it is highly leveraged. To
strengthen its long-term financial stability, the bank should
reduce its debt levels.

Lastly, the bank’s net profit margin (profit compared to total

sales) has been increasing every year, which is good.
However, it is still below the industry average. The bank needs
to improve this to stay competitive and grow in the market.