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BUSINESS INTERNSHIP REPORT

ON
Muslim Commercial Bank Ltd

MCB S PERFORMANCE IN COMPETITIVE BANKING SECTOR & ITS PRODUCTS & SERVICES AT MCB PA
KISTANI CHOWK BRANCH LARKANA
AUTHOR
SHAFEEQUE REHMAN MEMON
ROLL NO: 02
M.COM (FINAL)

MASTER OF COMMERCE
SESSION 2008 2009

The report is being made for the fulfillment of course the course No: 600 Busine
ss Internship Report of M.Com (Final).
The Business Internship is prepared on MCB s performance in competitive banking sec
tor & its products & services at MCB Pakistani Chowk Branch Larkana.
I would like to thank the following people at MCB Pakistani Chowk Branch who pro
vided me help to learn as much as possible during a short span of time.
Mr. Nazeer Ahmed Shaikh (Branch Manager)
Mr. Aamir Ali Mangi (Operation Manager)
The Business Internship Report is prepared under the supervision of Professor Dr.
GHULAM MURTAZA MAITLO Chairman Department of Commerce, Shah Abdul Latif Universi
ty Khairpur, Mir s.
I would like to extend my gratitude s to my teacher for his advice, encouragement
and valuable suggestions which made it possible for me to complete my Business I
nternship Report.

I | business internship report

The purpose of research work is to analyze the organization and the performance
of MCB Ltd. since 2008-09. This Business Internship Report is prepared on MCB s per
formance in competitive banking sector & its products & services . The Business In
ternship Report contains Executive Summary, Introduction, History of MCB Ltd, Pr
oduct & Services of MCB.
During the Internship, I worked in various operations as general banking includi
ng cash operation, clearing remittances, ATM, account opening procedure and adva
nces. The bank will have to work hard and to meet the challenges of competition
and to satisfy the customer to accelerate the business.
In this report primary and secondary data is used. In primary data the informati
on is collected by getting briefings from Branch Manager and from the Operation
Manager and in secondary data published literature of MCB and the electronic dat
a on MCB s website.
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MCB S PERFORMANCE IN COMPETITIVE BANKING SECTOR & ITS PRODUCTS & SERVICES AT MCB PA
KISTANI CHOWK BRANCH LARKANA .

TOPICS PAGE #:
Acknowledgement I
Abstract II
Table of Contents III
Executive Summary 01
? About MCB 01
? Our Vision and Mission 02
? Vision Statement 02
? Mission Statement 02
Introduction 03
? Achievements 03
? Company History 03
Main Departments and Their Jobs 04
? General Banking 04
Remittance 04
Pay Order 04
Demand Draft 04
Mail Transfer 05
Telegraph Transfer 05
Payment of Pay Order and Demand Draft 05
Cancellation of Pay Order and Demand Draft 05
Vouchers 05
Inward Clearing 06
Outward Clearing 06
Token 06
Issuance of Cheque Books 06
Issuance of ATM Cards 07
Cancellation of ATM Cards 07
Sale of RTC 07
Short Notice Term Deposits 08
Amount, Rate, Number of Days / 365 Days 08
Call Deposits 08
? Foreign Exchange 08
LC S Establishment 08
Payment or Retirement 08
III | business internship report
Foreign Currency Deposits 08
Foreign Remittances 09
? Advances / Credit 09
Basic Banking Account 09
? Pak Rupee or Foreign Currency Account 10
Saving Account 10
MCB Rupee Maximizer Account 10
Current Account 10
Khushali Bachat Account 10
MCB Enhanced Saving Account 10
MCB s Partners in Bill Payment 11
Investment Banking 11
About Remit Express 11
Features 12
Personal Loan 12
Products and Services 12
? On-line 12
? MCB Full Day Banking 12
? 365 12
? MCB Special Rupee Term Deposits 12
? MCB Lockers 13
? MCB Remit Express 13
? MCB Islamic Banking 13
? MCB Cards 13
? Cirrus 13
? Maestro 13
? MCB Virtual Internet Banking 13
? MCB Call Centre 14
? MCB Mobile Banking 14
? MCB ATM 24-Hour Cash 14
? MNet 14
? MCB Smart Cards 14
? MCB Easy Bill Pay 14
? Corporate Financing 14
? Instant Financing 14
? MCB Rupee Travelers Cheque 15
? MCB Business Sarmaya 15
? MCB Pyara Ghar 15
? MCB Car4u 15
Six Years Progress 16
Balance Sheet 18
Profit and Loss Account 19
Cash Flow Statement 20
Statement of Changes in Equity 22
Conclusion 24
Recommendations 25
Bibliography 26
Copy Right 27
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ABOUT MCB
MCB (Formerly Muslim Commercial Bank Ltd.) is the largest private sector bank in
Pakistan. The Adamjee group incorporated in 1948. It proposed during the 1950 s a
nd 60 s. In 1975 it was nationalized with all other private sector bank. Then 1991
it was privatized. Since the bank has been headway in improving of technology.
In the year 2006 bank name was changed to MCB Limited. The bank is now included
as one of the top most bank of the nation.

MCB has been awarded as a Euromoney Award 2008 for the "Best Bank in Asia" The C
hairman of MCB is Mian Mohammad Mansha and the President / CEO is Mr. Atif Aslam
Bajwa. MCB is one of the leading banks of Pakistan with a deposit base of about
Rs. 280 billion and total assets of around Rs.300 billion. Incorporated in 1947
, MCB soon earned the reputation of a solid and conservative financial instituti
on managed by expatriate executives. In 1974, MCB was nationalized along with al
l other private sector banks. The Bank has a customer base of approximately 4 mi
llion and a nationwide distribution network of 1,026 branches, including 8 Islam
ic banking branches, and over 300 ATMs, in a market with a population of 60 mill
ion. During the last fifteen years, the Bank has concentrated on growth through
improving service quality, investment in technology and people, utilizing its ex
tensive branch network, developing a large and stable deposit base.
I have learnt a lot in Pakistani Chowk Branch about Opening of Accounts, Clearin
g and Transferring of Cheques, Issuing the Cheques Books, Demand Drafts other Do
cuments etc. The exposure has given me a lot of knowledge especially about consu
mer banking operations in branch. Bank was previously working on MIB s software. I
n the year 2004 bank introduced new latest software SYMBOL . Now most of the branch
es located in Karachi, Lahore and Islamabad regions are working on SYMBOL softwa
re. MCB is the leading entity of the country that has always been at the forefro
nt of economical, technological, financial growth and stability.

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OUR VISION & MISSION
To become the preferred provider of quality financial services in the country wit
h profitability and responsibility and to be the best place to work
? VISION STATEMENT
To be the leading financial services provider, partnering with our customers for
a more prosperous and secure future.
? MISSION STATEMENT
We are a team of committed professionals, providing innovative and efficient fin
ancial solutions to create and nurture long-term relationships with our customer
s. In doing so, we ensure that our shareholders can invest with confidence in us
.

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Banking industry is one of the fasting growing industries of the last decade. We
have seen many ups and downs in the banking industry. This is the requirement o
f Shah Abdul Latif University to do Eight Weeks Internship in any organization t
o gain practical exposure of the theoretical aspects studied in the semesters.
MCB is one of the leading banks of Pakistan with a market share of 12.5%. It is
also the pioneer in innovative consumer banking in Pakistan. It is the largest p
rivate sector bank in Pakistan. It is the most preferred provider of quality fin
ancial services and is usually considered the best place to work. It has develop
ed a large stable deposit base. The bank today boasts of largest online branch a
nd ATM network in the country.
ACHIEVEMENTS
MCB is the only bank in Pakistan that has achieved 7 Euro Money Awards and 5 Asi
a Money Awards for being The Best Domestic Commercial Bank in Pakistan , along with
several other Awards including the Best Trade Finance of Pakistan for two conse
cutive years. These accolades are the proof of our consistent effort in providin
g the customers with utmost care and quality.
COMPANY HISTORY
Muslim Commercial Bank Limited. (MCB), the largest private sector bank in Pakist
an. Incorporated in 1948 by the Adamjee group, MCB soon earned a reputation of s
olid and conservative financial institution. During the 1960s the bank grew rapi
dly with a concentration on trade finance products. In 1947, MCB was nationalize
s along all other private sector banks. MCB was the first bank to be privatized
in 1991 during the Nawaz Sharif s government financial sector deregulation policie
s. During the first five years, the private management concentrated on growth ut
ilizing its extensive network of branches and developed a large and stable depos
it base. Since privatization, the bank has made tremendous headway in improving
the operational efficiency through human resource development and employment of
technology. The bank today boasts the target online brand and ATM network in the
country.
MCB s main focus remains on consumer banking and its growing reputation as a full
service provider gives the bank an edge in front of increased competition in the
banking sector in Pakistan. With a network of over 1200 branches and a team of
dedicated professionals, MCB with an international outlook and a regional focus
ensures prompt customer service and innovative solutions to business and persona
l needs.

03 | business internship report


The consumer banking provides customers with innovative saving schemes, products
and services. The ATM network is the largest in Pakistan and the Pak Rupee Trav
elers Cheques are market leaders. MCB was the first to introduce the photo card
with the introduction of MCB Master Card. Corporate banking ensures assistance f
rom a dedicated team of professional financial advisors for underwriting, projec
t finance or corporate advisory services.
MAIN DEPARTMENTS AND THEIR JOBS
There are three main departments in any branch of MCB
? GENERAL BANKING
? FOREIGN EXCHANGE
? ADVANCES/CREDIT
GENERAL BANKING
General banking deals with following services:
? REMITTANCE
It is transfer of funds. Funds can be transferred in shape of pay orders, demand
draft, mail telegram and telegraph transfer. Payments of fees of different orga
nizations, fulfillment of tenders, and collection of funds are the main function
s of remittance. Maximum part of general banking depends on this department.
Issuance of different kinds of remittance:
? PAY ORDER
Pay order is the property of person/company that has to take the benefit of the
amount being pay ordered by the concerned person. Pay orders are made for the pa
yment of fees, tender or issued for the payments of dealings. These are required
for the proof of payments made between the bank and the customer in the favor o
f beneficiary. These are noted in printed block letters and yearly serial number
s are issued from computerized system.
? DEMAND DRAFT
Demand drafts are made for the beneficiary for payments, funds etc, these are ma
de for outstation branches of the concerned banks. An advice is also made for th
e confirmation of the draft send. These are also approved and safe way of sendin
g amount to the beneficiary.
These are also noted by computerized system and a serial number is issued from t
he computer system.

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? MAIL TRANSFER
Mail Transfer is made with in the city for transfer of amount. An advice is also
made for the confirmation of the draft send. These are also approved and safe w
ay of sending amount to the beneficiary. These are also noted by computerized sy
stem and a serial number is issued from the computer system.
? TELEGRAPHIC TRANSFER
Telegraph Transfer is telegram message for transferring the amount from one bran
ch to other branch. A message advice and a confirmation advice both are made wit
h TT numbers that are issued for TEST. TEST depends on two steps:
1. First TEST is on Day, Date and Code Number of branch.
2. Second TEST is on Currency, whether Pak rupees or foreign currency, amount an
d TT number issued from manual registers and confirmed from computerized system.
? PAYMENT OF PAY-ORDER AND DEMAND DRAFT
Pay-Order and Demand Draft both could be paid in shape of physical payment of ca
sh and in case transfer of amounts; the amount could be transferred in the benef
iciary account. In case of physical payment authorized signature of beneficiary
are taken for the proof of amount being paid to him and in case of transferring
of amount authorized signature of the beneficiary are checked and verified for r
educing risks.
? CANCELLATION OF PAY-ORDER AND DEMAND FRAFT
Any type of Pay-Order / Demand Draft is cancelled by the permission and instruct
ions made by the beneficiary. The customer could only cancel the pay-order/deman
d draft as the verified signatures of beneficiary are present on the advice.
? VOUCHERS
Vouchers are made for records and they should be completed in all respects, the
amount, date, its head, particulars, amount in words, authorized signatures and
contra advice or voucher should be present. Vouchers are advice either debit or
credit slips. They are contra of each other. If any voucher of debit is passed i
ts contra credit voucher should also be passed for the balancing of accounts, th
eir respective sheets.

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? INWARD CLEARING
It depends on those checks that are cleared inter branch and with in the city. A
s the concerned branch receive any type of clearing check first of all physical
checking is taken place. For clearing procedure there should be two days margin.
These cheques have their vouchers and the amount of the cheque and voucher shou
ld be identical. Than these cheques are stamped and noted on receiving sheet as
well as feed in to the computerized system.
? OUTWARD CLEANING
It depends on those cheques that are cleared out side the city. For outward clea
ring cheques are send because the home branch has there accounts but checks are
of other banks. Contras of these cheques are vouchers that are recordrd in the h
ome branch.
? TOKEN
Token is the process of different steps of checking of the cheque:
1. PHYSICALLY CHECKING
First of all the cheque is physically checked.
2. Date
It should not be advanced of the latest date, date should be limited to only pas
t
six months.
3. AMOUNT
Amount in which words and figures should be written in clear writing. Any kind o
f over writing and cutting should be prevented. Otherwise it would not be passed
and returned to the customer.
4. PAYEES / BEARER CHEQUES
If the cheques are payees accounts head or they have marked bearer then these ch
eques are not labeled token.
5. VERIFICATIION OF SIGNATURES
Signatures are checked as well as verified. In case of other representative of t
he account holder brings the cheque then two signatures of that person are taken
.
6. STAMPS
After physical checking of the cheques they are stamped.
? ISSUANCE OF CHEQUE BOOKS
Any account holder that has opened the account he/she could credit his/her accou
nt and for this purpose there should be a cheque book, so he/she could be able t
o credit the needed amount whatever he/she wishes. For the issuance of the chequ
e book a person is advised to fill a requisite slip with his/her full names and
the account number with two verified signatures. These signatures are checked an
d then another requisite slip prepared by the bank staff send to the NIFT, and i
t issues the printed cheque books after completion of the procedure in two or th
ree days.

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Account holder can take it by singing on the issuance register or if the absence
of the account holder another person could also take the cheque book only if he
/she has authorized signature of the account holder. When the cheque books are i
ssued they are feed in the computer system from the requisite slip so when the c
heques are given for the credit/transfer of amount they could checked. In this w
ay neither the cheques could be repeated nor could the invalid cheques be claime
d.
? ISSUANCE OF ATM CARDS
Head office issues ATM (Auto Teller Machine) cards with their PIN (Personal Iden
tification Number) codes and when the customer claims for their ATM card they ar
e checked from the list that is also issued from the head office, and the claim
is checked from the list and if the name is found than the cards are issued by t
aking a signature and their PIN codes are given to them by taking signatures on
their ATM card forms. The ATM card has been activated by the number provided at
or with the specific card.
? CANCELLATION OF ATM CARDS
The Cancellation of ATM Cards becomes necessary in the following conditions:
If folded or damaged
Stolen
PIN code missed or forgotten
Card captured by the machine and expired
If requested by the customer
The cancellation or inactivity of the card is being processed by the request or
instructions provided from the customer.
? SALE OF RTC
The selling of the RTC has been described in step wise as follow:
In this step the bank initially seeks the information whether the person is goin
g to purchase the RTCs on cash or on account basis. If the transaction is based
on account then initially the cheque has been cleared than if the amount is suff
icient than RTC has been issued after deducting after the amount from the accoun
t.
If the amount of RTC is more than Rs. 25000 than tax has levied by 0.3% in case
of absence of the tax deduction form. After this the bank handed over a form for
RTC sale dully filled by the concerned person and after this RTC number has bee
n noted on the form as well as their amount and quantity. After this we note dow
n the sold RTC in the concerned register. MCB Pak rupee travelers cheques the fa
stest way to carry cash for high value cash transactions. MCB rupee travelers, t
he market leader in the rupee travelers cheque market in Pakistan is celebrating
nine years of leadership in July 2002. Launched in July 1993, MCB RTCs have bee
n preferred choice of the rupee travelers cheques target market. With over 1.5 m
illion satisfied customers in five years, MCB has been striving hard to package
their product better and better each year.

07 | business internship report


We now have RTCs with maximum security features, we have incorporated tele verif
ication with the product where customers can call and check whether the RTC is v
alid. At the same time, our RTC team anywhere in Pakistan ensures superior quali
ty service.
? SHORT NOTICE TERM DEPOSIT
There are short times either for seven days or for thirty days and the profit is
calculated by the given percentage from the head office at the payment time. If
the customer fails to complete the duration of seven days or thirty days then n
o profit is given. If any amount is outstanding, only in case of automatic conti
nuity, then the profit is calculated for the whole period by the rate given from
the head office multiplying from the numbers of days divided by the 365 for the
one-day profit.
? AMOUNT, RATE, NUMBER OF DAYS / 365 DAYS
Profit is calculated for the six months only for outstanding SND. Zakat is also
deducted but if Zakat deduction form is submitted to the bank, no Zakat will be
deducted then, 10% with holding tax is also deducted from the profit to calculat
e net profit.
? CALL DEPOSIT
It is highly liquid instrument, it can be cashed at any time when needed. This i
nstrument bears no profit on it. It is mostly used for the purpose of tenders.
FOREIGN EXCHANGE
? LC S ESTABLISHMENT
Any company can provide its documents containing e-form, bill of lading, short s
hipment notice in case of short shipment, packaging list etc. the information pr
ovided from the documents is recorded in the LC establishment portion or section
in the computer.
? PAYMENT OR RETIREMENT
When the transactions have been completed then approved documents from the conce
rned bank are sent to the home bank for the payment or retirement of the LC. The
se transactions have recorded in the payment or retirement section of the comput
er.
? FOREIGN CURRENCY DEPOSITS
The Foreign Currency Deposit relates with the foreign currency accounts, cash de
posit or credit and foreign remittances.

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? FOREIGN REMITTANCES
In this we received the messages through SWIFT for foreign remittances, which we
record in their respective accounts, if these are relates with Pak rupees than
it was transferred in Pak rupees with the latest rate and if this relates to the
foreign currency than it is dealt with accordingly. The amount has been credite
d to the respective account and the head office has been debited against it. Aft
er crediting the amount to the respective account. All the subsequent entries ha
ve been made in the registers and also in the computer record as the system now
have been upgraded on computers. As we are reporting daily to the head office, s
o an annexure has been maintained and faxed to the head office.
ADVANCES / CREDIT
This department deals with the approval of different kinds of loans to different
business entities. The loans, which are being approved by the department, are k
ept with some securities such as bonds, properties and any other type of asset,
which is equally valuable or more than this as a guarantee. Every branch has its
own limit, if the amount of loans is with in the limit of the branch then it is
being approved by the branch but if the amount of loan is exceeding the limit t
hen it has to make it approved by the head office. In this case the branch store
d all the required papers and sent them to the head office for necessary action.
If the head office approved the loan then mostly the period contains a year. An
d if the party requires more loan than after a year the loan has been re-approve
d required that they should have the limit. In case if the head office do not ap
prove the loans then the return letter came back with the reasons of not approva
l of loan and if the reasons have been made approved by the concerned party then
it could be sent again for approval. This whole process is recorded in the back
remain with the bank until the party has not refunded all the amount of loan an
d bank has the authority to liquidate those assets for preventing it from loss.
? BASIC BANKING ACCOUNT
In compliance with the directives of State Bank of Pakistan via BDP Circular No.
30, issued on 29th November 2005, the Basic Banking Account has been launched w
ith effect from 27th February 2006. This product has been introduced to facilita
te the low income group as well as the existing account holders who wish to conv
ert their regular savings or current account into Basic Banking Account.
The Basic Banking Account is a current account and can be opened with a minimum
initial deposit of Rs. 1000/- only. Account holders will be allowed 2 deposit tr
ansactions (each cash or through clearing) and 2 withdrawals (cash or clearing)
each month. All customer-initiated transactions over and above this limit will b
e charged a transaction fee. However unlimited free charge cash withdrawals are
allowed through MCB s own ATM s.

09 | business internship report


PAK RUPEE OR FOREIGN CURRENCY ACCOUNTS
? SAVING ACCOUNT
MCB s Foreign Currency Savings Account offers you attractive returns on your forei
gn currency investment. Unlimited transaction facility, profit credited to your
account on a half yearly basis. You can avail a credit facility up to 75% of the
total deposits value. A foreign currency account can be opened at any of our fo
reign exchange dealing branches.
? MCB RUPEE MAXIMIZER ACCOUNT
MCB Rupee Maximizer Account provides you an opportunity to convert your the rece
nt changes in the economic scenario MCB launched the Rupee Maximizer Account exc
lusively for its Foreign Currency Account Holders. MCB Foreign Currency Account
holders now have an opportunity to convert their Foreign Currency Account balanc
es into Pak Rupees and earn a profit at the rate of 12.6% per annum. Other featu
res include profits calculated on a daily product basis, no restrictions on the
number of the withdrawals, no minimum deposit required. Special benefits include
one free ATM card and locker facility free of cost. MCB Rupee Maximizer Account
is being advertised in leading daily newspaper as well as local papers. Foreign
Currency Account into Pak Rupee and earn profit at the rate of 12.6% per annum.
? CURRENT ACCOUNT
MCB s Foreign Currency Current Account offers you the convenience of unlimited wit
hdrawals i.e. access to your funds whenever you want without any notice. There i
s no limit on the number of transactions you make in a day.
? KHUSHALI BACHAT ACCOUNT
Open a Khushali Bachat or Dollar Khushali Account, both require low minimum inco
me deposits plus you receive profit on daily product basis. Get a saving with cu
rrent account facilities through saving 365 or double your investment through ca
pital growth and receive monthly profits through monthly Khushali.
? MCB ENHANCED SAVING ACCOUNT
Keeping in view the small savers, looking for higher returns on their savings, M
CB introduces the Enhanced Saving Account (ESA). This account can be operated vi
a all the channels available at the MCB such as Cheques, Virtual Banking, Mobile
Banking, MCB Smart Card and ATMs/Point of sales all across Pakistan. MCB ESA, g
overned under PLS rules, can be opened with a minimum initial deposit of Rs. 500
0 and the profit shall be calculated on an average basis maintained by the custo
mer during that month.

10 | business internship report


Following shall be the slabs used for profit calculation:
? If average balance is greater than Rs. 20,000 standard PLS rates will apply.
? If average balance less than Rs. 20,000 (or equal to 20,000) with up to 4 with
drawal transactions per month (excluding ATMs, PSO, and VB) 4.0% p.a.
? If average balance is less than Rs.20,000 (or equal to 20,000) with over 4 wit
hdrawal transactions per month (excluding ATMs, PSO, and VB) then standard PLS r
ates will apply.
The rates mentioned above are expected and shall be revised at least every six m
onths. Average account balances can exceed Rs. 20,000 during a month. However, i
n that case, they shall be paid profit as per the standard PLS rates, as mention
ed in slabs above. Profit shall be calculated on average basis and shall be cred
ited to the account after each calendar quarter.
? MCB s PARTNERS IN BILL PAYMENT
Pay your bills 24 hours a day, a day, 7 days, and a week. Make total payments of
up to Rs. 20,000 per day. Carry out up to 10 transactions per day per card. Mak
e either full or partial payments. Full payment is required for PTCL only. Recha
rge your pre-paid account for Mobilink, Ufone and Telenor as per their fixed sla
bs. Pay as a registered or non-registered user. Registration will help you avoid
the time delay in entering details each time you carry out a transaction.
Pay with MCB ATM
Pay through MCB Virtual
Pay through MCB Call Centre
? INVESTMENT BANKING
Our investment banking team has emerged as a leading player in Pakistan s investme
nt banking arena. The team handles advisory, corporate finance and capital marke
ts related transactions, within these areas the team has developed expertise in:
? Private Placements
? Debt/Equity Underwriting
? Team Finance Certificates
? Loan Syndication
? Arrangement of Non-Fund Facilities
? Mergers and Acquisitions
? Privatization
? Corporate Advisory
? ABOUT REMIT EXPRESS
Fastest to Pakistan, anywhere in Pakistan, the fastest way of getting your money
across to Pakistan. Remit express offers low cost remittance from U.A.E and Sau
di Arabia. Your relatives friends or business associates receive drafts within 72
hours. MCB remit express has been specifically designed to meet the needs of th
e expatriate Pakistani community residing in the gulf countries.

11 | business internship report


? FEATURES
Easiest and safest way to remit funds, remittance within 24 to 74 hours, persona
l delivery to the beneficiary, delivery confirmation to the remitter, message fa
cilities for both parties. Your beneficiary will receive the amount even if he/s
he does not have an MCB account.
? PERSONAL LOAN
The more you praise and celebrate your life, the more there is in life to celebra
te MCB personal loan shortens the distance between your dreams and your celebrati
ons. It is fast, flexible and affordable, speedy loan approval. No guarantor / s
ecurity / collateral required. Borrow up to Rs. 1,000,000. 1 to 5 year tenures,
partial and full adjustments allowed anytime during the tenure, optional insuran
ce, equal monthly installments, lower interest rates, higher loan limits, loan a
mount renewed anytime after nine months. You as an individual can gain and benef
it the through MCB consumer banking. In MCB you get friendly, efficient and atte
ntive personalized banking services, a unique banking relationship experienced b
y each MCB client.
PRODUCTS AND SERVICES
? ON-LINE
The largest network of over 315 on-line branches in the country and growing. Pro
viding customers with 24 * 7 real time on-line transaction facilities.
? MCB FULL DAY BANKING
Enjoy the convenience of extended banking hours from 9 to 5, even on Saturdays,
for satisfying your banking needs at all MCB Full Day Banking branches across th
e country where you are now served with a wide range of services through the day
.
? 365
A deposit account for customers with substantial balances, offering profit on a
daily product basis with the facility of unlimited withdrawals.
? MCB SPECIAL RUPEE TERM DEPOSITS
MCB s Special Rupee Term Deposits offer a very attractive term investment option w
ith ease and convenience. Tenor s options available are of 3 months, 6 months, 1 y
ear, 3 years and 5 years. You can also avail a credit facility up to 75% of your
total deposits.

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? MCB LOCKERS
The best protection for your valuables. Lockers of different capacities are avai
lable nationwide.
? MCB REMIT EXPRESS
International remittances with a two-way messaging facility delivered at your do
orstop within 24 to 72 hours.

? MCB ISLAMIC BANKING


MCB Islamic Banking provides Riba Free and Shariah Complaint solutions to variou
s customer segments in a growing number of cities. With the help of Shariah spec
ialists, lawyers and professional commercial bankers, we have the best solutions
to cater your needs the Islamic way.
? MCB CARDS
A local Point of Sale acquiring network facilitating acceptance of all major car
d brands.

? CIRRUS
MCB Smart Card and ATM card holders can avail cash withdrawal facility at over 9
00,000 ATMS worldwide.
? MAESTRO
MCB Smart Card and ATM card holders enjoy the convenience of shopping at over 5
million POS locations globally.
? MCB VIRTUAL INTERNET BANKING
MCB provides the convenience of banking on the internet. Whether at office, home
or traveling log on to www.mcb.com.pk and enjoy 24-hour access to all your acco
unts at MCB for the largest array of services.

13 | business internship report


? MCB CALL CENTRE
Call now for answers to your queries about banking services. ATM services, mobil
e banking services, RTC services, tele-banking services and MCB product informat
ion.
? MCB MOBILE BANKING
Banking at your fingerprints. Dial in anytime to get information regarding balan
ce and mini statements.
? MCB ATM 24-HOURS CASH
The nation s largest network of over 210 ATMs and growing. Get 24-hour convenience
of cash withdrawal, mini-statement, bill payment and funds transfer services.
? MNET
MNET is an electronic hub for ATM sharing plus other touch points. Members inclu
de 12 local financial institutions enjoying ATM sharing and bureau services. Pak
istan s largest operating switch with the highest transactions volume.
? MCB SMART CARDS
MCB Smart Card - a secure instrument of payment, offering Cash Free convenience.
It provides 24-hour direct access to your bank account and unmatched functional
ities.
? MCB EASY BILL PAY
MCB Easy Bill Pay is an easy solution to pay Utility and Mobile Phone bills. MCB
ATM Card or MCB Smart Card holders can easy pay their bills through MCB ATMs, M
CB Virtual-Internet Banking and MCB Call Centre with security and peace of mind.
? CORPORATE FINANCING
Providing access to diversified financing options, including working capital loa
ns, term loans, trade finance services and investment banking.
? INSTANT FINANCING
Get a loan instantly at any MCB branch. Offering same day financing facility aga
inst liquid collateral at competitive pricing.
14 | business internship report
? MCB RUPEE TRAVELLERS CHEQUE
The most widely accepted way to pay cash for travel-related purposes. A safe and
secure way to make payments nationwide.
? MCB BUSINESS SARMAYA
MCB Business Sarmaya is a Running Finance facility against your residential prop
erty. It offers Running Financing up to 20 million with low mark-up and BTF at c
ompetitive rates.
? MCB PYARA GHAR
MCB Pyara Ghar is an ideal Home Finance product that lets you purchase, renovate
or construct your home the way you have always wanted. Financing available is u
p to Rs. 20 million.
? MCB CAR4U
MCB CAR4U Auto Finance is your move that gets you not only a car of your own cho
ice but leads you to the best in life. It is affordable with competitive mark-up
, flexible conditions, easy processing and above all, no hidden costs.

23 | business internship report

During the study of internship, I drew the following conclusions.


MCB limited has implemented a SYMBOL system which promises the efficiency growth
of the bank. MIS and computerization of branches has enhanced the efficiency of
the bank. Delegation of authority, wide branch network with ATM installation an
d wide participation of employees in the decision making provides the bank a com
petitive edge. The bank provides a conducive environment for career growth. The
bank pays a too low rate of interest on deposits which in unattractive for its c
ustomers. There are too lengthy formalities and procedures involved in mortgage
of properties offered as collateral to the bank.
The MCB bank made substation progress, recording strong growth in revenues and e
arnings. The main derives were increase in outreach, strengthened human resource
s. Including changes at the senior management level, enhanced product portfolios
, improved control and vigilant credit risk management. Our primary focus was ou
r customers and we worked diligently through the year to increase satisfaction a
nd loyalty as the needs and expectation of our diversified base of customers con
tinued to expand. A key initiative aimed at including a segment based approach t
o the overall business was the segregation of the retail banking group into comm
ercial and consumer banking groups. This expected to help the MCB bank in provid
ing customer centric solution in a more group generated healthy deposit and stre
ngthened its SME lending.

24 | business internship report

1. Training can be provided with job rotations so each of the employees is capab
le of doing others work in case of emergency, this will ensure no delays are met
.
2. As MCB earning a lot of profit stock options should be given to every employe
e.
3. Workers need more computer training.
4. MCB need to invest more in technology and bring all banking procedures up-to-
date.
5. They should implement advance technology and make it one window shopping or o
ne window service where each teller is capable of handling every transaction for
example payments, deposits, transfers, bill payments, foreign exchange, ATM car
d issue and opening of new account. This will make MCB more proficient in custom
er service.
6. ATM network needs to be updated more to handle transfers, deposits, bill paym
ents and print statements. This will free up a lot staff time.
25 | business internship report

1. News Letters
2. Magazines of MCB
3. Annual Report of MCB 2008
4. Website: www.mcb.com.pk
5. Review of President of MCB 2004 Page No: 08 to 12
6. Personal interview with Nazeer Ahmed Shaikh (Branch Manager)
7. Personal interview with Aamir Ali Mangi (Operation Manager)

26| business internship report


Attention is drawn to the fact that the copy right of this report rests with aut
hor. This copy of report has been supplied on condition that any one who consult
s it is the understood to recognize that its copy right with its author and no i
nformation derived from it may be published without the prior written consent au
thor.
This report contains material, which is the property of the MCB Limited, Karachi
and is clearly marked as such. Although they have given me their kind permissio
n for its reproduction. This material remains protected under their copy right.
This report may be made available for consultation within University / Departmen
t of Commerce library and may be published on or lent to other libraries for the
purpose of consultation.

27| business internship report