BUSINESS INTERNSHIP REPORT

ON

“MCB’S PERFORMANCE IN COMPETITIVE BANKING

SECTOR & ITS PRODUCTS & SERVICES AT MCB
PAKISTANI CHOWK BRANCH LARKANA”

AUTHOR

SHAFEEQUE REHMAN MEMON

ROLL NO: 02
M.COM (FINAL)

MASTER OF COMMERCE
SESSION 2008 – 2009
 ACKNOWLEDGEMENT

The report is being made for the fulfillment of course the course No: 600 Business
Internship Report of M.Com (Final).
The Business Internship is prepared on “MCB’s performance in competitive banking
sector & its products & services at MCB Pakistani Chowk Branch Larkana.”
I would like to thank the following people at MCB Pakistani Chowk Branch who
provided 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 University 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
Internship Report.

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 ABSTRACT

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
performance in competitive banking sector & its products & services”. The Business
Internship Report contains Executive Summary, Introduction, History of MCB Ltd,
Product & Services of MCB.
During the Internship, I worked in various operations as general banking including
cash operation, clearing remittances, ATM, account opening procedure and
advances. 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 information is
collected by getting briefings from Branch Manager and from the Operation Manager
and in secondary data published literature of MCB and the electronic data on MCB’s
website.

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 “MCB’S PERFORMANCE IN COMPETITIVE BANKING
SECTOR & ITS PRODUCTS & SERVICES AT MCB
PAKISTANI CHOWK BRANCH LARKANA”.

TABLE OF CONTENTS
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

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• 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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EXECUTIVE SUMMARY

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
and 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 Chairman 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 institution
managed by expatriate executives. In 1974, MCB was nationalized along with all
other private sector banks. The Bank has a customer base of approximately 4 million
and a nationwide distribution network of 1,026 branches, including 8 Islamic banking
branches, and over 300 ATMs, in a market with a population of 60 million. During the
last fifteen years, the Bank has concentrated on growth through improving service
quality, investment in technology and people, utilizing its extensive branch network,
developing a large and stable deposit base.
I have learnt a lot in Pakistani Chowk Branch about Opening of Accounts, Clearing
and Transferring of Cheques, Issuing the Cheques Books, Demand Drafts other
Documents etc. The exposure has given me a lot of knowledge especially about
consumer banking operations in branch. Bank was previously working on MIB’s
software. In the year 2004 bank introduced new latest software “SYMBOL”. Now
most of the branches located in Karachi, Lahore and Islamabad regions are working
on SYMBOL software. MCB is the leading entity of the country that has always been
at the forefront 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 with
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

financial solutions to create and nurture long-term relationships with our customers.
In doing so, we ensure that our shareholders can invest with confidence in us.
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INTRODUCTION

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 of Shah
Abdul Latif University to do Eight Weeks Internship in any organization to 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 private
sector bank in Pakistan. It is the most preferred provider of quality financial services
and is usually considered the best place to work. It has developed a large stable
deposit base. The bank today boasts of largest online branch and ATM network in
the country.

ACHIEVEMENTS

MCB is the only bank in Pakistan that has achieved 7 Euro Money Awards and 5
Asia 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
consecutive years. These accolades are the proof of our consistent effort in providing
the customers with utmost care and quality.

COMPANY HISTORY

Muslim Commercial Bank Limited. (MCB), the largest private sector bank in
Pakistan. Incorporated in 1948 by the Adamjee group, MCB soon earned a
reputation of solid and conservative financial institution. During the 1960s the bank
grew rapidly with a concentration on trade finance products. In 1947, MCB was
nationalizes 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 policies. During the first five years, the private management
concentrated on growth utilizing its extensive network of branches and developed a
large and stable deposit 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 personal
needs.

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The consumer banking provides customers with innovative saving schemes,
products and services. The ATM network is the largest in Pakistan and the Pak
Rupee Travelers Cheques are market leaders. MCB was the first to introduce the
photo card with the introduction of MCB Master Card. Corporate banking ensures
assistance from a dedicated team of professional financial advisors for underwriting,
project 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
organizations, fulfillment of tenders, and collection of funds are the main functions 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
payment 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 of
beneficiary. These are noted in printed block letters and yearly serial numbers are
issued from computerized system.

 DEMAND DRAFT

Demand drafts are made for the beneficiary for payments, funds etc, these are made
for outstation branches of the concerned banks. An advice is also made for the
confirmation of the draft send. These are also approved and safe way of sending
amount to the beneficiary.
These are also noted by computerized system and a serial number is issued from
the 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 way of
sending amount to the beneficiary. These are also noted by computerized system
and a serial number is issued from the computer system.

 TELEGRAPHIC TRANSFER

Telegraph Transfer is telegram message for transferring the amount from one branch
to other branch. A message advice and a confirmation advice both are made with 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
and 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
cash and in case transfer of amounts; the amount could be transferred in the
beneficiary 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 reducing
risks.

 CANCELLATION OF PAY-ORDER AND DEMAND FRAFT

Any type of Pay-Order / Demand Draft is cancelled by the permission and

instructions made by the beneficiary. The customer could only cancel the pay-
order/demand 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 its contra
credit voucher should also be passed for the balancing of accounts, their respective
sheets.
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 INWARD CLEARING

It depends on those checks that are cleared inter branch and with in the city. As 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 should 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 clearing
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 home
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 past
six months.
3. AMOUNT
Amount in which words and figures should be written in clear writing. Any kind of
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
cheques are not labeled token.
5. VERIFICATIION OF SIGNATURES
Signatures are checked as well as verified. In case of other representative of the
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 account
and for this purpose there should be a cheque book, so he/she could be able to
credit the needed amount whatever he/she wishes. For the issuance of the cheque
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 and then
another requisite slip prepared by the bank staff send to the NIFT, and it issues the
printed cheque books after completion of the procedure in two or three 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 issued
they are feed in the computer system from the requisite slip so when the cheques
are given for the credit/transfer of amount they could checked. In this way neither the
cheques could be repeated nor could the invalid cheques be claimed.

 ISSUANCE OF ATM CARDS

Head office issues ATM (Auto Teller Machine) cards with their PIN (Personal
Identification Number) codes and when the customer claims for their ATM card they
are 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 taking 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 going 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 sufficient
than RTC has been issued after deducting after the amount from the account.
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 been noted
on the form as well as their amount and quantity. After this we note down the sold
RTC in the concerned register. MCB Pak rupee travelers cheques the fastest way to
carry cash for high value cash transactions. MCB rupee travelers, the 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 been preferred
choice of the rupee travelers cheques target market. With over 1.5 million satisfied
customers in five years, MCB has been striving hard to package their product better
and better each year.

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We now have RTCs with maximum security features, we have incorporated tele
verification with the product where customers can call and check whether the RTC is
valid. At the same time, our RTC team anywhere in Pakistan ensures superior quality
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 no profit is
given. If any amount is outstanding, only in case of automatic continuity, 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 calculate net
profit.

 CALL DEPOSIT

It is highly liquid instrument, it can be cashed at any time when needed. This
instrument 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
shipment notice in case of short shipment, packaging list etc. the information
provided 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
concerned bank are sent to the home bank for the payment or retirement of the LC.
These transactions have recorded in the payment or retirement section of the
computer.
 FOREIGN CURRENCY DEPOSITS

The Foreign Currency Deposit relates with the foreign currency accounts, cash
deposit 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 credited to the
respective account and the head office has been debited against it. After crediting
the amount to the respective account. All the subsequent entries have 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, so 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 kept
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 then it has to make it approved
by the head office. In this case the branch stored 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. And if the party requires more loan than after
a year the loan has been re-approved required that they should have the limit. In
case if the head office do not approve the loans then the return letter came back with
the reasons of not approval 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 and 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 with
effect from 27th February 2006. This product has been introduced to facilitate the low
income group as well as the existing account holders who wish to convert 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
transactions (each cash or through clearing) and 2 withdrawals (cash or clearing)
each month. All customer-initiated transactions over and above this limit will be
charged a transaction fee. However unlimited free charge cash withdrawals are
allowed through MCB’s own ATM’s.

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PAK RUPEE OR FOREIGN CURRENCY ACCOUNTS

 SAVING ACCOUNT

MCB’s Foreign Currency Savings Account offers you attractive returns on your
foreign 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 foreign
exchange dealing branches.

 MCB RUPEE MAXIMIZER ACCOUNT

MCB Rupee Maximizer Account provides you an opportunity to convert your the
recent changes in the economic scenario MCB launched the Rupee Maximizer
Account exclusively for its Foreign Currency Account Holders. MCB Foreign
Currency Account holders now have an opportunity to convert their Foreign Currency
Account balances into Pak Rupees and earn a profit at the rate of 12.6% per annum.
Other features 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
withdrawals i.e. access to your funds whenever you want without any notice. There
is 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
income deposits plus you receive profit on daily product basis. Get a saving with
current account facilities through saving 365 or double your investment through
capital 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, MCB
introduces the Enhanced Saving Account (ESA). This account can be operated via
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,
governed under PLS rules, can be opened with a minimum initial deposit of Rs. 5000
and the profit shall be calculated on an average basis maintained by the customer
during that month.

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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
withdrawal 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
withdrawal transactions per month (excluding ATMs, PSO, and VB) then standard
PLS rates will apply.
The rates mentioned above are expected and shall be revised at least every six
months. Average account balances can exceed Rs. 20,000 during a month.
However, in that case, they shall be paid profit as per the standard PLS rates, as
mentioned in slabs above. Profit shall be calculated on average basis and shall be
credited 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. Make either
full or partial payments. Full payment is required for PTCL only. Recharge your pre-
paid account for Mobilink, Ufone and Telenor as per their fixed slabs. 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

investment banking arena. The team handles advisory, corporate finance and capital
markets 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 Saudi
Arabia. Your relatives’ friends or business associates receive drafts within 72 hours.
MCB remit express has been specifically designed to meet the needs of the
expatriate Pakistani community residing in the gulf countries.

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 FEATURES

Easiest and safest way to remit funds, remittance within 24 to 74 hours, personal
delivery to the beneficiary, delivery confirmation to the remitter, message facilities for
both parties. Your beneficiary will receive the amount even if he/she does not have
an MCB account.

 PERSONAL LOAN

“The more you praise and celebrate your life, the more there is in life to celebrate”
MCB personal loan shortens the distance between your dreams and your
celebrations. It is fast, flexible and affordable, speedy loan approval. No guarantor /
security / collateral required. Borrow up to Rs. 1,000,000. 1 to 5 year tenures, partial
and full adjustments allowed anytime during the tenure, optional insurance, equal
monthly installments, lower interest rates, higher loan limits, loan amount renewed
anytime after nine months. You as an individual can gain and benefit the through
MCB consumer banking. In MCB you get friendly, efficient and attentive personalized
banking services, a unique banking relationship experienced by each MCB client.

PRODUCTS AND SERVICES

 ON-LINE

The largest network of over 315 on-line branches in the country and growing.
Providing 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 the 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
with ease and convenience. Tenor’s options available are of 3 months, 6 months, 1
year, 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 available
nationwide.

 MCB REMIT EXPRESS

International remittances with a two-way messaging facility

delivered at your doorstop within 24 to 72 hours.

 MCB ISLAMIC BANKING

MCB Islamic Banking provides Riba Free and Shariah

Complaint solutions to various customer segments in a
growing number of cities. With the help of Shariah
specialists, 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 card brands.

 CIRRUS

MCB Smart Card and ATM card holders can avail cash withdrawal facility at over
900,000 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
accounts at MCB for the largest array of services.

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 MCB CALL CENTRE

Call now for answers to your queries about banking services. ATM services, mobile
banking services, RTC services, tele-banking services and MCB product information.

 MCB MOBILE BANKING

Banking at your fingerprints. Dial in anytime to get information regarding balance 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 include 12 local financial
institutions enjoying ATM sharing and bureau services.
Pakistan’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
functionalities.
 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, MCB Virtual-Internet Banking and MCB Call
Centre with security and peace of mind.

 CORPORATE FINANCING

Providing access to diversified financing options, including working capital loans,

term loans, trade finance services and investment banking.
 INSTANT FINANCING

Get a loan instantly at any MCB branch. Offering same day financing facility against
liquid collateral at competitive pricing.

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 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 property. It offers Running Financing up to 20 million
with low mark-up and BTF at competitive 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 up to Rs. 20 million.

 MCB CAR4U

MCB CAR4U Auto Finance is your move that gets you not only a car
of your own choice 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.
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CONCLUSION

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 and wide participation of employees in the decision making provides the
bank a competitive 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 customers. 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
earnings. The main derives were increase in outreach, strengthened human
resources. Including changes at the senior management level, enhanced product
portfolios, improved control and vigilant credit risk management. Our primary focus
was our customers and we worked diligently through the year to increase satisfaction
and loyalty as the needs and expectation of our diversified base of customers
continued to expand. A key initiative aimed at including a segment based approach
to the overall business was the segregation of the retail banking group into
commercial and consumer banking groups. This expected to help the MCB bank in
providing customer centric solution in a more group generated healthy deposit and
strengthened its SME lending.
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RECOMMENDATIONS

1. Training can be provided with job rotations so each of the employees is capable
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 employee.
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
one window service where each teller is capable of handling every transaction for
example payments, deposits, transfers, bill payments, foreign exchange, ATM
card issue and opening of new account. This will make MCB more proficient in
customer service.
6. ATM network needs to be updated more to handle transfers, deposits, bill
payments and print statements. This will free up a lot staff time.
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BIBLIOGRAPHY

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)
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COPY RIGHT

Attention is drawn to the fact that the copy right of this report rests with author. This
copy of report has been supplied on condition that any one who consults it is the
understood to recognize that its copy right with its author and no information derived
from it may be published without the prior written consent author.
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 permission for its
reproduction. This material remains protected under their copy right.
This report may be made available for consultation within University / Department of
Commerce library and may be published on or lent to other libraries for the purpose
of consultation.
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