Final Internship Report MCB

MCB Bank Limited
CHAPTER #1
MCB Bank Limited

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INTRODUCTION
"A banker is a dealer in capital or more properly a dealer in money. He is an

intermediate party between the borrower and the lender. He borrows from one party
and lends to another."
According to Banking companies ordinance 1962

Under section 3(B) of Banking Companies Ordinance 1962 "Banker means
person transacting the business of accepting for the purpose of lending or investment,
of deposits of money from the public, repayable on demand or otherwise and
withdraw able by cheque, draft, order or otherwise and includes any Post Office
Savings Bank."
Gomal University D.I Khan
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Com m e rci al Banki ng i n Paki st an

The interesting point which I observed during the span of mine internship was
the historical background of Banking & Financial sector which is the one in which
great improvement and growth is observed since the formation of Pakistan. For
studying the growth of this sector we can divide it into three stages, which are as
follows:
Pre-Nationalization Era
Banks Position in 1973

BANK
NO. OF BRANCHES
DEPOSITS
HBL
667
6,160
NBP
579
5,660
UBL
497
5,670
MCB
506
1,640
ABL
145
570
B) Nationalization Period:
On January 01, 1974 all Pakistani banks were nationalized through
Nationalization Act 1974. Under this law all Pakistani banks became a public
property. All small banks were merged in bigger banks to create 5 major Pakistani
banks Pakistani banks. These banks were to control by Pakistan Banking Council.
There are still controversies about this act of government as whether it contributed in
success of failure of banks. However the major changes after nationalization were as
follows:
Working of banks was extended to under developed areas.
Market expansion for credit and deposits.
Decrease in service level of bank officers.
Decrease in profitability as well.
However the effect of expansion was enormous and it can also be depicted
with the help of table 2 that shows the deposit & branch positions of different
nationalized banks.
Banks Position In 1992

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Bank
No. of Branches
HBL
1926
NBP
1448
128,679
UBL
1684
87,482
MCB
1288
50,013
ABL
750
33,757
TOTAL
7096
453,362
Deposits (Rs. In Millions)
153,431
C) Post Nationalization Era

In 1990 the government decided to denationalize all the nationalized institutes.
Some was also suggested in banking sector. For this purpose, amendments were made
to Nationalization Act 1974 and two nationalized banks were privatized.
Along with this a permission to open banks in private sector was also granted.
The rules regarding establishment of new banks and for incoming foreign banks were
also
Relaxed.
The-three privatized banks are;
a) MCB taken up by a private group in April, 1991
b) ABL taken up by its own employees in September, 1991
c) UBL taken up by UAE party in 2002.
After these changes a large number of private and foreign banks started their
operations in Pakistan and the present status can be seen from the following figures:
SCHEDULE BANKS
Category
No. of Banks
Nationalized Commercial Banks
Private / Privatized Commerce Banks
18
Public Sector Specialized Banks
Foreign Banks
19
Total Schedule Banks
44
In addition to above mentioned scheduled banks there are 7 Development

Financial Institutes, 14 Investment Banks and Mudarabah Companies.
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CH APTER#2
mcb historical Background
M CB Bank Lt d.
(
to be the best place to work .
History:
This bank was incorporated under companies act 1913 on 9th July 1947 (just
before partition) at Calcutta. But due to changing scenario of the region, the certificate
of incorporation was issued on 17th August 1948 with a delay of almost 1 year; the
certificate was issued at Chitagong. The first Head office of the company was
established at Dacca and Mr. G.M. Adamjee was appointed its first chairman. It was
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incorporated with an authorized capital of Rs. 15 million.

After some time the registered office of the company was shifted to Karachi
on August 23rd, 1956 through a special resolution, now recently the Head office of
MCB has been transferred to Islamabad in July, 1999 and now Head office is termed
as Principle Office.
This institute was nationalized with other on January 1st, 1974. At that time it
had 506 branches and deposits amounting to Rs. 1,640 million. Although. MCB has a
reputation of a conservative bank but nationalization also left its effects on this
institute as well and by end of year 1991 in which it was privatized the total number
of branches were 1.287 and deposits amounting to as high as Rs. 35,029 million.
When privatization policy was announced in 1990, MCB was the first to be
privatized upon recommendations of World Bank and IMF. The reason for this choice
was the better profitability condition of the organization and less risky credit portfolio
which made'' it a good choice for investors. On April 8th, 1991, the management
control was handed over to National Group (the highest bidders). Initially only 26%
of shares were sold to private sector at Rs. 56 per share.
Developments:
After privatization, the growth in every department of the bank has been
observed. Following are some key developments:
Launching of different deposit schemes to increase saving level.
Increased participation on foreign trade.
Betterment of branches and staff service level.
Introduction of Rupee Traveler Cheques & Photo Credit Card for the first time
in Pakistan.
Extended use of information technology, which is evident from the fact that
there are 768 fully automated branches, 243 online branches (integrated networking),
151 ATMS in 27 cities nation wide and a M.C.B continuously innovate new product.
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MCB AWARDS
1 Euro money Awards
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CH APTER#3
Organizational structure
ORGANIZATIONAL STRUCTURE
As MCB is a banking company listed in stock exchange therefore it follows all
the legalities which are imposed by concerned statutes Mr. Muhammad Mansha is
chairman & chief executive of the company with a team of 10 directors and 1 vice
chairman to help in the business control and strategy making for the company.
A team of 10 professionals is handling operational Management of the bank.
Mr. Muhammad Mansha also heads this team. The different operational departments
are Consumer Banking & IT div; Financial & Inter branch div; Banking operations
div; HR & Legal div; financial control & Audit div; Credit management div;
Commercial Banking div; Corporate Banking div; Treasury management & FX Group
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and lastly Special Assets Management (SAM) Group.

For effective handling of branches, it has been categorized into three segments
with different people handling each category. These categories are:
Corporate Banking
Commercial Banking
Consumer Banking
A) Corporate Banking:
These are branches, which have an exposure of over Rs. 100 million. Usually
includes multinational & public sector companies.
B) Commercial Banking:
The branches which has a credit exposure of less than Rs. 100 million but
having a credit portfolio of more than Rs. 20 million (excluding staff loans)
Usually branches in large markets and commercial areas come under this
category.
C) Consumer Banking:
These are the branches, which have exposure up to Rs. 20 million, and these
include all the branches, which are neither corporate nor commercial branches.
Recently the organizational structure was re-designed as follows:
Province wise branches

Corporate
Consumer
20 branches
637 branches
Commercial
383 branches
Number of Branches in Different localities:

Punjab
632
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Sindh
232
NWFP
123
Blochistan
34
Azad Kashmir
19
Domestic
1040
Overseas
EPZ
Total
1045
Overseas Branches
Sri Lanka
Bahrain
FURTHERMORE, THE BANK HAS SOME PROPOSALS UNDER

CONSIDERATION TO OPEN MORE BRANCHES IN SOME EUROPEAN
COUNTRIES AND AS WELL AS IN JAPAN & CHINA.
Chief Financial Officer

Ali Amin
Company Secretary
Tameez-ul-haque
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Hierarchy Of Management
GRADES OF BANK
SEVP
ESEVP
SVP
VP
AVP
GRADE-1
GRADE-2
GRADE-3
ASSISTANT
Clerical staff
Non-clerical staff
Cashier
Messenger
Technical Staff
Dispatch Rider
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BRAN CH NETWO RK
The following is the Branch Network of MCB Bank Limited.
Sector wise position of circle,
As on 30-12-2007
Consumer
Sector
810
Branches.
Area Head South
Area Head Centre
Area Head North
180 Branches
360 Branches
370 Branches
Commercial Sector 210 Branches

Area Head
Area Head
Area Head
Area Head
Karachi
South
Central Punjab
North
40 Branches
45 Branches
70 Branches
54 Branches
Corporate
Sector
20
Branches
South Karachi
North Islamabad
Main Karachi
Central Lahore
9 Branches
3 Branches
1 Branch
7 Branches
Overseas Branches
you a variety of products and services customized to satisfy your individual

needs.
Understanding Convenience.
The next objective of MCB Bank Limited is to make understanding a
convenient thing for the whole environment of the bank, for the purpose of
boosting up its values and prosperity in such a competitive environment.
Convenience is what the customer is looking for; and this is what we at MCB
are continuously striving to provide. Whether it is the 24 hours cash
convenience of our ATM network or the easy availability of financing
requirements or simple opening of account, MCB has tailored its products and
services to make your life easier. MCB knows the particular needs of its
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CHAPTER#4
Fields of Activities of MCB
Fi el ds of Ac ti vi ti e s of M CB
The purpose of banks is to provide some services to the general public. And for this
purpose different banks provide different services to the people in different forms.
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The MCB Bank (MCB) is a commercial bank, in modern time commercial banks play
a very important role and their functions are manifold. The main functions and
services which MCB Bank Limited provides to different peoples are as follows.
Open Different accounts for different peoples
Accepting various types of deposits
Granting loans & advances
Undertaking of agency services and also general utility functions, few of those are as
under:
Collecting cheques and bill of exchange for the customers.
Collecting interest due, dividend, pensions and other sum due to customers.
Transfer of money from place to place.
Acting an executor, trustee or attorney for the customers. Providing safe

custody and facilities to keep jewellery, documents or securities.
Issuing of travelers cheques and letters of credit to give credit facilities to

travel.
Accepting bills of exchange on behalf of customers.
Purchasing shares for the customers.
Undertaking foreign exchange business.
Furnishing trade information and tendering advice to customers.
For proper functioning of branches and the over all bank has been divided in different
departments. These departments handle different jobs so that division of work is there
for improvement of functions and also it is easy to control the situation. The general
division in a branch is as follows:
Cash department
Deposit department
Advances & credit department
Foreign exchange department
Technology department (new addition in order to cop with the growing needs of day
to day technology requirements)
Cash Department
The following books are maintained in the Cash Department:
1.
Receiving Cash Book
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2.
Paying Cash Book
3.
Scroll Book
4.
Cash Balance Book
When cash is received in counter, it is entered in the Scroll Book and

Receiving Cashier Book. At the close of the day, these are balanced with each other.
When the cheque or any negotiable instrument is presented at counter for
payment, it is entered in the token book and token is issued to the customer. The token
clerk and the Cashier make entries in the paying book and payment is made to payee.
At the close of day, the Token Book and Paying Cashier Book are balanced.
The consolidated figure of receipt and payment of cash is entered in the cash
balance book and drawn closing balance of cash.
Opening Balance + Receipts - Payments = Closing Balance.
This is very important department because cash is the most liquid asset and
mostly frauds are made in this department, therefore, extra care is taken in this
department and nobody is allowed to enter or leave the area freely. Mostly, cash area
is grilled and its door is under supervision of the head of that department. An officer
check all the books maintained in this department.
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Deposit Department
Bank deals in money and they are merely mobilizing funds within the
economy. They borrow from one person and lend to another, the difference between
the rate of borrowing lending forms their spread or gross profit. Therefore we can
rightly state that deposits are the blood of the bank which causes the body of an
institution to get to work. These deposits are liability of the bank so from point of
view of bank we can refer to them as liabilities.
The total deposits of MCB are growing since its inauguration but after
privatization there is a sharp incline in over all deposits of the bank. The increase in
deposits is also a cause of increase on total number of accounts; bank has progressed
in both aspects.
Types of deposits
Deposits can be segregated on two bases, one is the duration in which there
funds are expected to be with the bank and second is the cost of getting these funds.
So divide deposits in two classes according to duration of deposits i.e.
1) Time deposits / liabilities
2) Demand deposits / liabilities
And on the basis of the cost to acquire these funds, a deposit can be classified
as any one of following four, High Cost Medium Cost, Low Cost No Cost.
Banks has different kinds of deposit schemes in order to induce deposits.
These schemes are a mixture of the above mentioned two types of deposits with an
addition of different services & requirements such as minimum balance' requirement,
mode of transaction, basis for calculation of profit, deductions, additional benefits,
eligibility for different groups.
In the similar fashion, MCB has a large variety of deposit schemes and
some of them are as follows:
Current a/c (CD):

In this type of accounts the client is allowed to deposit or withdraw money as
and when he likes. He may, thus, deposits or withdraws money several times in a day
if he likes. There is also no restriction of amount to be deposited or withdrawn.
However, there is requirement of minimum balance maintenance of Rs. 1000/-.
Usually this type of account is opened by the businessmen. No profit is paid by the
bank and no service charges are deducted by the bank on current deposits account.
These types of deposits are also exempt from compulsory deduction of Zakat.
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PLS Saving Bank a/c (SA):

This type of account is for those persons who want to make small savings'.
This type of account is opened with a minimum deposit of Rs. 1000/-. Under this
scheme deposits can be made only up to a-costing amount and withdrawals are
allowed twice a week or 8 times a month. If a big amount is required a seven days
notice is required before the withdrawal. The profit is paid on these accounts on the
minimum balance during a month for the whole of that month. Zakat & other
withholding taxes are deducted as per rules of the government.
KushaLi Bachat a/c (KBA):

This is an advance form of PLS saving a/c, in this type of account. The
minimum balance requirement for this type is Rs. 2500/-. There is also restriction on
the number of withdrawals as well, i.e. up to 4 times in a calendar month. For
maintaining this extra balance the customer gets the benefits of profit calculation on
daily product basis and also free service of standing instructions of paying utility bills
and HBFC installments. All other rules of saving account are applicable.
PLS 365 Saving a/c:

This is a special type of saving account in which customer maintains a
minimum balance of Rs. 300,000- and in turn he gets the benefits of daily profit
calculations and also there is no restriction on the maximum number of withdrawals
as was there in the case of KBA. There is also another advantage of this scheme that if
balance on a particular day falls below the minimum balance then only the product of
that day is ignored whereas in KBA, if balance falls below the minimum limit then all
the products for that month are ignored on in other words no profit is paid for that
month.
NOTE:
PLS Saving, Kushali Bachat & PLS 365 saving accounts can be opened in
foreign currency also. Before nuclear tests of 1998 these accounts were opened in four
major currencies but now these are only opened in USD ($). However, now bank
discourages the opening of foreign currency accounts because State Bank of Pakistan
(SBP) and all the loss in case of devaluation provide no forward cover risk or
depreciation in local currency has to be born by bank himself. This increase in cost
has left foreign currency account of no use, therefore, now bank prefers to accept
deposits in local currency rather in foreign exchange.
Khanum Bachat Scheme:

This is a type of term deposit, in this type of deposit an account is deposited
and monthly payments of Rs. 1000/- are made by the account holder in this account
for a minimum of 10 years. After the expiry of term, he receives his funds along with
profit for the tenor. The distinctive feature of this product is that profit is calculated on
monthly basis and charged to account on end of each half /ear. Then profit is also
calculated on that amount of profit, which is credited to the customer's account. So we
can say that in this type of account there is a concept of accumulated profits on profit.
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This ends in getting a heavy return for the depositor at the end of tenor for his
small savings. This product was actually introduced to promote saving habits in the
people. Zakat and withholding taxes are deducted as per rules only at the time of
maturity while making payment to the customer.
Hajj Mubarak Scheme:

This is also very closely related with Khanum Bachat scheme. This was
designed to help the persons who are willing to offer Hajj but are unable to save
required funds. In this deposit schemes, 2 or 3 years agreement is entered with a
customer. During this time he keeps on depositing monthly deposits and his account is
charged with the accumulated profits calculated on 6 monthly basis. The scheme is so
designed that total amount to be received at the end of this scheme comes equal to the
anticipated cost of offering Hajj at the end of tenor. Zakat & withholding tax are
deducted at the time of payment.
Monthly khushali scheme:

This scheme is similar to CGC in the sense that an initial deposit is made in
this case also but instead of lump sum payment at the end of the tenor, the person gets
a monthly profit on his deposits. Under this scheme, the bank has guaranteed
minimum rate of 1% per month but usually this rate is more than 1% per month.
Zakat & withholding tax are calculated as per rules laid down by the government.
Term deposit receipts (TDRs)

This is a type of term deposit in which a receipt is issued for varying tenors
ranging from 1 month to 5 years or more. These are in the form of receipts and profit
on these receipts is paid biannually. These receipts are encashable after expiry of the
period for which they were issued. Different profit rates are applied to different type
of TDRs.
Special Notice Deposits (SND):

Under this deposit scheme, a deposit is received from the depositor under the
condition that he will intimate the bank before a certain period in case of withdrawals.
There are two types of SNDs, they are 7 days and 30 days notice deposits. The profit
is paid on these deposits but it is nearly equivalent to saving account rate.
Functions
This was a brief review of different types of deposit schemes. The Deposit
Department handles the account opening, profit payment and accounting of all types
of deposit schemes.
Account opening:
Account opening is an agreement in which customer offers his funds and bank
accepts these funds, therefore the nature of relation between a banker and customer is
of a contractual one and all the conditions applicable to this contract act are also
applicable.
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Procedure for opening:

Procedure for opening of account is as follows:
A person, who wants to open any kind of account, has to fill in a printed form,
which is provided, by the bank, free of cost. Separate account opening forms are used
for different types of accounts.
Bank usually requires some one must introduce that new depositor. An
introducer can be any person known to the bank but preferably it should be a
customer of the bank. However, the manager can open the account by his own
introduction.
If the manager is satisfied, it will obtain the full signature of the customer- on
the form and specimen signature card, makes the first deposit, and issues the cheque
book.
The following are given to the customers:
Pay-in-slip is the proof of deposit. For every payment, which is to be
deposited in the bank, the pay-in-slip is to be filled up. The object of this book is to
provide the customer with the bank's acknowledgment for receipt of money to be
credited this account.
Cheque Book contains a number of cheques. It enables a customer to make
withdrawal from this account or make payment of various parties by issue of cheque.
Pass Book is a copy of the customers account as appears in the books of the
bank. The Clerk records Balance in this book.
NOTE:
In case of partnership account partnership deed should be attached.
In case of companies memorandum and article of association, certificate of
incorporation, certificates for commencement of business, list of directors and board
resolution for opening of account is also obtained from the customer.
Accounts of Trusts, Executors & Administrators can also be opened but with
the prior approval of the Head Office.
Profit payment & calculation is done in accordance with the rules of each type
of deposit scheme-by the deposit department. The products for each deposit scheme
are calculated separately and added till the end of 6-month period. Then the sum total
of these products is multiplied with the respective profit rates, which are issued by the
Head Office at the end of each half yearly closing. The profit provisions for each type
of deposits are also calculated on monthly basis by the same department in order to
calculate the net profit or loss position of the branch.
Accounting entries are also made in the respective books of account by
this department. However, in small and medium size branches, the accountant
performs the book keeping duties for all kinds of ledgers.
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C L E A R I N G D E PARTM E N T
Every banker acts both as a paying as well as a collecting banker, It is
however an important function of crossed cheques. A large part of this work is carried
out through the bankers clearing house.
A clearing house is a place where representative of all banks of the city get
together and settle the receipts and payment of cheques drawn on each other. As the
collecting banker runs certain risks in receipt of their ownership the law has provided
certain protections to the banks.
The Negotiable Instrument Act, 1881, lays down hat drawer or holder of a
cheque or draft may cross the instrument generally or specially. It further lies down
that a crossed cheque can only be paid to a banker, who collects it for a customer in
good faith and without negligence.
Types of cheques collected:

Transfer cheques: are those cheques, which are collected and paid by the
same branch of bank.
Transfer delivery cheques: are those cheques, which are collected and paid
by two different branches of the same bank situated in the same city.
Clearing cheques: are those cheques, which are drawn on the branches of
some other bank of the same city or of the same area, which is covered by a particular
clearing house.
Collection cheques: are those cheques, which are drawn on the branches of
either the same bank or of another bank, but those branches, are not in the same city
or they are not the members of clearing house.
Functions of Clearing Department:
To accept Transfer, Transfer delivery, clearing and collection cheques from

the customers of the branch and to arrange for their collection.
To arrange the payment of cheques drawn on the branch and given for
collection to any other branch on MCB or any other members or sub
member of the local clearing house.
To collect amount of cheques drawn on members, sub-member of local
clearing house, sent for collection by MCB Branches, not represented at
the local clearing house.
Common Procedure for all Cheques:

i)
Receiving and scrutinizing the cheques and other deposit instruments, and the
pay-in-slip at the counter.
ii)
Fixing the stamps.
iii)
Scrutiny and receipt by the authorized officer.
iv)
Returning the counter file to the depositor.
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v)
Certificate and confirmation by the officer in charge of the department. ,
vi)
Separating the cheque into transfer, transfer delivery, and clearing cheques.
Scrutiny Of Cheques
a)
The instrument should be neither stale/ nor post-dated.
b)
If the instrument is crossed not negotiable it can be for the third party (an
endorsee of an order cheque, or a holder of bearer cheque).
c)
The Instrument should not bear any unauthorized alternation.
d)
The instrument should not be mutilated.
e)
The amount in words and figures should be same.
f)
The instrument should be drawn on any local branch.
g)
If cheque is "crossed Account Payee's" only or "Payee's Account", it should

only be accepted for collection for the payee's account.
h)
The cheques or drafts should not be crossed specially to any other bank.
i)
A cheque payable to a firm should not be accepted for credit to a partner's

account.
j)
A cheque payable to one of the joint account holders should not be collected
for the joint account without the payee's endorsement, or consent.
k)
A cheque drawn by a customer in the capacity of agent, Attorney, or Manager

of his company or firm, should not be collected for credit to his personal
account.
l)
Pay orders, although negotiable should not be collected for third parties.
m)
Do not collect an instrument in the account of an agent or of the servant of the

payee or endorsee of the instrument.
n)
Not transferable" instruments, like Telegraphic Transfer, or Mail Transfer

Receipt, Pay-slips, and Treasury Receipts, should be collected for a person
other payee.
o)
If an account is new or the balance or operation of the account is not

satisfactory, satisfy your self about the title of the customers to the instruments
before accepting the deposits.
p)
Branch agent's permission should be obtained before accepting a third party

cheque or draft for the credit of the member.
q)
If the payee is a Government Department, Government Official, or a trust

account the instrument cannot be collected, but for the payee's account.
r)
If the payee of an instrument is UBL, it can be collected for credit of the

drawers account, or the amount of the instrument may be utilized as desired by
the drawer in writing.
s)
Cheque payable to a trust, account should not be collected for credit to a

trustee's account.
t)
All the endorsement should be regular, and no endorsement should be missing.
Note: No charges are charged by the bank for this purpose.

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Ledgers of Deposit Department:

The following types of ledgers are concerned with deposit departments:
a)
Saving Ledgers
b)
Current Ledgers
c)
Profit & Loss Sharing Ledgers
d)
Fix Deposit Register
e)
S.N.T.D. Register
f)
Call deposit register
g)
Cumulative deposit certificate register
h)
Cash book
i)
Daily profit and loss summary book
j)
Officer spaceman signature book
k)
Voucher register
However, in computerized branches all these ledgers are no more there but
only day books are maintained. The rest of the work is done on computers.
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A D VAN C E S D E PARTM E N T
Advances are the most important source of earning for the banks. MCB is also
giving full attention towards this aspect and it is also obvious from the growing
portfolio of advances and from very low delinquency rate. The credit portfolio of this
institution is in a very much better shape than other financial institutions of Pakistan
and the credit goes to the management and the staff who are concerned about the
quantity and quality as well.
1)
1)
Loans
2)
Cash Credits
3)
Overdraft
Loans:
Loans are monetary assistance by a financial institution to a business,

individual etc. The loans are granted by the bank in lump sum, so these types called
fixed or demand loans. Interest is charged on the whole amount of a fixed loan.
The borrower withdraws whole the amount of loan. This type of loan is
normally granted against security of gold documents.
In case of demand loans against gold or documents, a demand promissory note
for the amount of loan is taken from the borrower loans are granted under;
a)
Loan against Gold:
Under this type of loan, which is granted to the borrower the Head Cashier
estimates the value of Gold or Gold ornaments through an agent (Gold smith) and
keeps a margin of 40 to 50 percent. After the opening the gold loan account a token is
given to the borrower, which is a bank receipt.
On repayment of loan, the gold or ornaments held as security for it, together
with the demand promissory note duly discharged is returned to the borrower and his
receipt for the gold ornament taken in the demand loan ledger. This receipts states that
he ornaments returned are complete and in order. Part delivery of ornaments is given
against part payment of a loan but care is taken that the ornaments still in banks
possession fully covers the balance of the loan outstanding. The interest gold loan is
to be applied with quarterly.
b)
Loan against pledged of stock:
In case of advancing such types of loans, the following precautions are dept in
the mind:
i)
Stock pledged must be readily saleable
ii)
Products should be readily saleable
iii)
Advance should be within the borrows means
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Requiremen t for loan:

For granting loan to any party or individual, the bank checks following
particulars of the client:
1)
Credibility
2)
Feasibility Report
By Credibility, bank Judges the credibility of the client by his past bank
record, CBI report etc. it is very important in making decision about giving him loan.
Feasibility report is on the running or proposed business of the client. The
report enables the bank to judge the likely return of the business.
2)
Cash Credit
Under such cash account is opened in the name of the customer who
borrows from the bank. Customer is granted a loan up to a certain limit, sanctioned by
the head office, from which he can draw when he requires and interest is charged on
the amount actually utilized by the customer. In order to avoid the danger of idle fund,
the bank charges a certain rate of interest, even if the customer does not withdraw any
amount. The rate charged by the bank on cash credit in 46 paisa per thousand on
daily basis.
The credit is usually given against the securities of goods or merchandize as
follows:
1.
Advances AGAINST PLEDGE stock in trade or
products
When a cash is granted against the pledge of stock or product, cash credit
form is taken, from the certain products or stock, but the actual pledge is created when
the stock or finished product are placed under the bank's lock or the document of title
are duly endorsed to the bank by the borrower.
2.
Hypothecation of stock on Finished Products:
The difference between pledge and hypothecation is that under a pledge the
borrower's goods are placed in the bank's possession under own lock, whereas, under
a hypothecation, they remain in the possession of the borrower or guarantor and are
merely charged to the bank under documents signed by them. Even though the
documents empower the bank to take possession of the goods hypothecated, but it is
possible that the borrower may actually resist any attempt.
3.
Mortgages of property:
Title deeds of immovable property are accepted by the bank only as

collateral security or alternatively as unauthorized security.
MCB Bank Limited

25
Technology Department
Technological advancements are also affecting the banking industry. The
foreign banks have a competitive edge over all local banks in their technologies'
advancements and automated systems. Local banks have also realized the gravity oil
this situation and are striving to add computerized systems to their branches
MCB is ahead of all other local banks in this field and now it is in a position
to even compete with foreign banks. There are more than 1045 branches of MCB all
over Pakistan and out of these more than 300 branches are fully computerized Almost
all .the branches of big cities are computerized; therefore, the need for a technology
department at each branch is growing. Now a day, a computer division is working in
each city to provide service to ad the branches of that area.
MCB has also introduced the now concept of online banking. There are now
more than 250 branches linked through this system and they can transact with each
other directly using computer systems at their own branches. Now customers do not
have to wait long for their transactions and can operate their account through all the
online branches.
ATM Network:
ATM stands for Automatic Teller Machine. This machine is used to transact
in one's account without intervention of humans. These machines are basically used
for taking cash, confirming balances and requesting statements /chequebook.
MCB has the largest ATM network in the country at the moment with almost
one ATM at each online branch and also ATM terminals at International Airports. This
network covers more than the 27 cities of Pakistan including the provincial capitals
and large commercial cities of the country.
ATMs are operated through a card issued to the valued customers and by
application of Personal Identification Number (PIN number). A person can withdraw
from any machine across Pakistan with having an account in only one branch of
MCB. This was only possible with the help of online system. In this system all the
machines are linked to central banking host at IRM division Karachi through either
satellite or telephone controller. This system identifies the cardholder and his PIN
Number.
Now MCB has also entered into a contract with Cirrus, which is a subsidiary
of MasterCard. This contract will enable an ATM cardholder to use his account even
when he is out of country at all the ATMs where Cirrus logo is displayed.
Green Cards are ordinary cards with a maximum withdrawal facility of Rs.
10,000/- in a day. The annual fee for this card is Rs. 300/- only.
Gold Cards are special cars with maximum withdrawal limit of Rs. 25000/in a day. These cards are issued to the persons having more than Rs. 500000/- as their
average balance.
International Cards are issued in collaboration with Cirrus and are useable
all over the world with maximum withdrawal facility according to the standards of
Cirrus.
MCB Bank Limited

26
3)
MCB KHUSHALI BACHAT ACCOUNT:
Features:
a)
8% rate of return per annum.
b)
Returns calculated on daily.
c)
Average balance and paid half yearly.
d)
Introduced first time in Pakistan.
The facility of helping account holders pays utility bills (electricity,

telephone and gas) through their account. No queues. No delays.
4)
PRIME CURRENCY ACCOUNT SCHEME:
Launched to attract deposits in foreign currencies. US Dollars, Pound

Sterling, Euro and Japanese Yen.
Features:
a)
Owing foreign currency account under the Prime Currency Scheme allows you
to earn attractive rates of interest in foreign currency.
b)
You have a choice between opening this account in your personal name and
opening it under joint names.
c)
Whether you are a resident or a non-resident Pakistan, MCB Prime Currency

Scheme invites all to operate a foreign currency account.
d)
Foreign nationals and foreign companies can also open a foreign currency
account under the Prime Currency Scheme.
e)
Your foreign currency account can be opened in four global currencies: The
United States Dollar, the Pound Sterling, the Japanese Yen and the Euro.
f)
Travelers Cheques and Foreign Currency Notes can also be issued to holders
of persona! and Joint accounts.
g)
Remittance from abroad, Travelers Cheques, Foreign Currency Notes and

Foreign Exchange generated by encashing F.E.B.Cs may be deposited in these
accounts.
h)
Rupee Loan facility will also available against this account.
i)
You can draw any amount of foreign exchange from your foreign currency
account and transfer or remit the amount freely to any part of the world
without any restrictions.
j)
The restrictions imposed by the State of Pakistan for the opening of foreign
currency accounts in case of passport; Work-permit and resident Visa have
MCB Bank Limited

27
been withdrawn. Your account will be restriction free.
k)
The Prime Currency Scheme is exempt from al! forms of taxes including
Income Tax, Wealth Tax and Zakat deductions.
l)
MCB Prime Currency Scheme is a world in itself.

MCB - committed to working for your convenience - offers the foreign
currency account facility at more seventy of its branches all over Pakistan.
5)
HAJJ MUBARAK scheme
A saving scheme, of 2/3 years duration, for the convenience of persons, with
a limited income, who desire to perform Hajj, was introduced.
Under the 2 years scheme, a monthly deposit of Rs.1800 is required,
whereas under the 3 years scheme, the required monthly deposit is only Rs.1200.
6)
CAPITAL GROWTH CERTIFICATE SCHEME:
For long term depositors under which the amount deposited almost doubles
at the end of 5 years. For the scheme, the minimum amount of deposits is Rs. 10000
while there is no maximum limit. In case of premature encashment of the certificate,
the depositor will profit at the same rates as that of PL Saving Account.
7)
Fund Management Scheme
This scheme is offered to corporate and customers and is aimed at providing

better rate of return up to 15% per annum. One of the objectives of the scheme is to
develop secondary market for Government Securities.
8)
Consultancy Services:
In the process of privatization of public sector units, prospective buyers need

professional assistance and MCB, with its expertise, offers to them specialized service
for valuation of the market value of the industrial unit, preparing bid documents and
arranging finance for the purchase of the unit.
9)
Self Supporting Scheme:
For the benefits of genuine worker/borrowers who are poor and needy and
for small entrepreneur the bank as evolved a self supporting scheme: maximum
amount of loan Rs.25000 and minimum Rs.5000 per individual. Loan will be totally
free of mark-up.
10)
FAX Press
This product was first of its kind introduced by using modem technology of
The Fax Machine. It facilitates speedy transfer of funds within Pakistan. The service
guarantees transfer of from one city to another, within an hour.
11)
Night Banking Service:

For the convenience of the account holder, service has, especially, been
MCB Bank Limited

28
introduced at busy commercial centers. Traders and other clients can now make
deposit, with case, at such centers up to 8.00PM.
12)
Utility Bills Collection
With the aim of extending this service to wider range of customers, the
number of MCB branches collecting Utility Bills more than 900.
a)
MCB Mobile
b)
Islamic Banking Services
13.
MCB Mobile
Banking at your fingertips. Dial in anytime to get information regarding

balance and mini statements.
14.
Pyara Ghar
Flexible and competitive home financing facility with options of home

purchase, construction and renovation.
15.
Islami c Banking Services
Islamic banking services through exclusive units/branches offering a range

of liability and asset based Sharia compliant products like Musharakah, Murabaha,
Ijara and Istasana.
16.
MCB Car Cash
Car financing and leasing at competitive rates with flexible options Car cash
finances both semi-commercial and non-commercial vehicles for personal and
business use.
17.
MCB Lockers
The best protection for your valuables. Lockers of different capacities are
available nationwide.
MCB Bank Limited

29
R E M I T TAN C E S
Demand Draft (DD)
Demand draft is a written order drawn by a branch of a bank upon the
branch of same or any other bank to pay certain sum of money to or to the order of
specified person
a)
Demand draft is a negotiable instrument.
b)
Legal provisions are same as that of cheque.
c)
It is to be ensured that purchaser can at least sign.
d)
Thumb expression is not accepted on DD
e)
The following are the parties.
f)
Purchaser.
g)
Issuing branch.
h)
Drawee branch.
i)
Payee.
A demand draft may be issued against the written request of the customer
before issuing it must be seen that the demand draft is in order.
Scrutiny of Application
The Demand Draft application must be scrutinized by the counter clerk in
respect of following points.
A
There should be branch where payment is to be made.
full name of payer should be mentioned
amount in words and figures must be same
application to be signed by the purchaser
TELEGRAPHIC TRANSFER (TT)
Transfer of funds from one branch to another branch of the same bank or
upon other bank under special arrangements.
Telegraphic transfer is not negotiable
The funds are not payable to bearer
Minor cannot avail this facility
MCB Bank Limited

30
Parties
Following are the parties involved
Applicant
Drawing branch
Drawee branch
Beneficiary
Full name of the beneficiary or account number should be mentioned in the

application form.
Instruction regarding mode of payment should be obtained.
A record in the remittance outward register should be maintained.
All the remittance must be controlled through number.
Mail transfer
Transfer of funds from one branch to another branch of the same bank with
in or out side the city is called mail transfer.
Mail transfer is not negotiable
The procedure is same as for DD
All precautions must be observed
Pay Orders (PO)
Pay order is meant for bank own payment but in practice they are also
issued to customers.
A pay order is written authorization for payment made in a receipt form

issued and payable by the bank. To the person named and address.
The following are the parties
A.
Purchaser
B.
Issuing branch
C.
Payee
Charges must be recovered at prescribed rate.
Pay order should be prepared like demand draft.
A record of all issued and paid should be maintained.
Credit voucher should be prepared
MCB Bank Limited

31
INFORMATION ABOUT MY BRANCH
3) Preparation of ATM Sheet:

ATM Sheet is prepared on daily basis and must be tally on both sides. Three
types of accounts use in this statement i.e., current account, saving account and
khushali bachat account. Current account entries are posted separately and saving
account and khushali account are entered in same head. Use of funds from these
accounts is mentioned in these accounts and at last it must be balance on both sides
and then forward it to other transfer sheet.
4) Procedure To Honor a cheque

At MCB Bank Limited, Cheques are received for the following purposes.
1) For Cash payments
2) For transfer (from one account to another)
3) For Clearing
i)
For cash Payments
Cheques which are presented on Bank counter must be checked in the

following way:
1)
Date.
2)
Signature of Drawer.
3)
Signature of Payee.
4)
Whether Bearer has cancelled.
5)
Whether Payee account duly is there.
If condition 4&5 exist then check the signatures of Drawer.
6)
Match the figure and wordily amount of cheque.
When all above matters are satisfied then come to the cheque:
1)
Cheque number.
2)
Amount of cheque.
3)
Particulars.
Two stamps are put on cheque.
a)
Cash Payment (on the face of cheque).
b)
Posted
MCB Bank Limited

32
Note:
Payment is also made when cheques of same branch account is presented for
transfer to other account in same ranch along with cheque for payment.
ii)
Cheque for Transfer:
When cheques are presented to be sent for collection and drawn on bank
situated within the city then there are three stamps to be put on face as well as on back
of cheque.
a)
Crossing Stamp (face).
b)
Transfer Stamp (face).
c)
Bank Manager Stamp (back).
Only in MCB branches.
Cheques for clearing:
There are two stamps put on each cheque, sent for clearing:
a)
b)
Crossing Stamp.
Manager Stamp.
Cheques in Collection:
When cheques received in clearing are intra city then these are controlled
under CC.
First of all, these cheques are recorded in day book then allotted number and
then serial number. Then a Performa is prepared in which Bank on whom was drawn,
cheque number, amount, beneficiary name are recorded. After completing that
Performa cheque is posted along with Performa.
Clearing:
Following information is entered in clearing register.
a)
Name of favoring party.
b)
Name of bank on whom drawn.
c)
Branch.
d)
Cheque number.
e)
Amount.
Clearing is sent after entering in register. In clearing register future date and
day is putted. Cheques and vouchers are then separated and Cheques are sent for
MCB Bank Limited

33
clearing.
Clearing credit vouchers are entered on clearing sheet. Such credits are
balanced by giving debits to cheques received in clearing from other branches. At the
beginning of the day clearing return sheet is received. Vouchers are made if
1.
Clearing received is more than clearing delivered then Credit voucher.
2.
Clearing delivered is more than clearing received then Credit voucher.
On the same day, credit vouchers sent for clearing are entered on the sheet's
credit side.
Cheques are sent to NIFT after taking them on calculator, their total amount
along with total number of instruments. A summary is prepared and sealed after
noting the number of seal in summary.
Telephonic Transfer
DD- Demand Draft
PO- Payment Order
For TT, the account of beneficiary must be there in branch. DD is also
prepared and beneficiary can get payment.
First of all, Performa is filled by purchasing party along with cheque or cash
payment. When cheque is received it is first posted in computer section in order to
check the balance of account. After posting the bank officer calculate tax if National
Tax number is not there. i.e.
Rs.100000 @0, 1%
More than Rs.40000 @0.4%
Commission and postage charges are also calculated. These are paid in cash or
otherwise by cheque.
5) Issuance of Cheque Book:

During my period of internship in MCB i
observed that when a account is opened then a cheque is issued to the customer for
drawing his money at per rules. Following procedure is adopting for the issuance of
cheque.
When a customer opens an account with the bank, he is provided with cheque
book for withdrawals from account. However, the first cheque book is given to the
customer only when all the required documents are checked. A cheque book contains
ten, twenty five, fifty or hundred leaves. The cheque book also carries a requisition
slip for the issuance of the new cheque book. This slip is duly filled and singed by the
customer. The signature of the customer is verified by the bank and new cheque book
is issued to the customer and serial numbers of the cheque are duly entered in the
book of the bank. Along with the signature, person should also write his full name &
address.
Usually only one cheque book is issued at a time, however big concerns who
need a number of cheque books at a time, may ask the bank to stock as number of
cheque books in their name and to point their name on these cheque books.
Bank debits the clients account for excise duty of Rs.2.50/- per cheque and
keeps the cheque book ready for the customer, as on his advice.
The officer keeps and maintains the cheque book register Cheque book
MCB Bank Limited

34
inventory and cheque books issued are recorded in this register. The account number
for which the cheque book is issued and the number of leaves are also recorded in this
register when the cheque book issued an entry is passed in the cheque book issue
register.
6)Transfer Of Utility Bills;.

People pay bills through checqes .in such situation debit is given to customers
account and credit is given to specific utility bill. It must also enter into transfer sheet.
Because it is transfer from one account to another.
7) Preparation Of TT ,DD .MT And Pay Order:
These are major portion banking work.because in this time world is global a
village and every one engage in social and economic issues. In this regard he wants
safe transfer of money from one place to another place. People can avail the
opportunities of DD (Demand Draft) TT( Telephonic Transfer) MT( Mail Transfer)
and Pay order. And choose one of them according to their requirements and benefits.
a) Demand Drafts:
Demand drafts is written order, drawn by one branch o f bank upon Another
branch of the same bank, or upon other bank under some special to pay a certain sum
of money to or to the order of specified person.
Demand draft is a negotiable instrument.
Demand draft is neither issued payable to barer nor drawn on the branches
situated within the same city.
It is to be insured that the purchaser of demand draft is able to sign at least
his name.
b) Telegraphic Transfer (TT):
Transfer of funds from one branch to
another branch of same bank or another bank under some special arrangements for
payment to the beneficiary through Telegram/Telex/Fax is called Telegraphic transfer.
Telegraphic transfer is not negotiable. The funds remitted through telegraphic transfer
are not payable to bearer /order but only to payee. Telegraphic transfer of funds to a
branch situated in same city should not effect.
MCB Bank Limited

35
Remittance can be for the credit of payee. To avoid complication this not to be
effected on application of minor
c) Mail Transfers
Transfer of funds from one branch to another of the same bank within or outside
city or upon other bank under special instruction for payments to beneficiary through
mail/courier service is called Mail Transfer. It is similar about TT. But the difference
is that it can be issued door branch inside the city where in TT case it is not possible.
d) Pay Order:
A pay order is a written authorization for payment made in receipt from
issued and payable bank to the person named and address is given. It is issued by and
drawn upon and payable by the same branch of the bank.
These are some modes for transferring funds from one place to other and I
try to learn about these upto some extent.
8) Preparation Of Advices:
Preparation of invoices is essential part of banking sector. I learn about the
preparation of advices. Approximately all transaction with outside the branch in the
city or outside city is appeared with advices. I branch there is bulk transaction of cash
remittances. After receiving of proper instrument it is entered into transferring
register. Either it is paid in cash or it can be deposit into bank account. Bank sent it to
issuing branch for clearance of its amount. After it, it enters in receipt register.
Receipt of utility and telephone bills and in evening its advices are prepare
with next day date and deliver to respective main branch for transferring these funds
to concern department,.
Cash department:
I also work in also in cash department with cash officer. This is a very
technical and painstaking job. Because it is main function of bank to receive deposits
and make payments. It includes two heads:
1. Cash payments
2. Cash Receipts
MCB Bank Limited

36
a) Cash Payments:
Cash is paid against a cheque presented by customers. Cash officer is bound
to make payment against this debit advice (cheque) I learn following points should be
keep into mind whole making payment against cheque
o It should not be post dated.
o Amount in words and figures should be same.
o Signature should be matched with specimen.
o There is no cutting or over writing in cheque.
o It should not be tear.
o There is availability of balance to make payment.
After checking all these precautions payment is made against cheque. The
amount is posted in a persons account. And it is also in proper sheet. And at the end
of day cash is sorted and tally with available funds.
b) Cash Receipts:
Cash is received through pay in slip. When cash is receive from customer it
is properly counted, and make sure all particulars are properly filled following points
must be considered cash from customers
o Date is properly enter on slip.
o It is filled on proper slip i.e. separate slips for a current and saving
accounts
o Amount in words and figure is same
o There is no cutting on slip
After cash is receive and deposited into proper account .at the end of day
balance of cashier is equal to ledger balance.
MCB Bank Limited

37
9)Rupee Travelers Cheques: RTCs

When RTCs are to be issued payment is received in cash or by cheque, tax
@0.03% is charged id National Tax number is nor available. RTCs are issued in
consecutive number of face value of
Rs.1000
Rs.5000
Rs.10000
Rs.50000
Rs.100000
Specimen signatures of buyer are taken and clearing slip is in four pages. One
is sent to Head office, one to RTC division, one for bank record and one for client.
If client wants immediate payment of RTCs then he will bring RTCs with two
signatures, one copy of deal and ID card copy. Payment is made. RTCs can be
endorsed to other party. Once receiving party will pay the RTCs along with credit
vouchers in their relevant account with Bank. Payment will be credited to account of
paying party.
MCB Bank Limited

38
CHAPTER#9
FINDINGS AND RECOMMENDATIONS
MCB Bank Limited

39
F I N D I N G S AN D R E C O M M E N D ATI O N S
From the Quantum of the profit and its financial data it can be easily judged
that after privatization, MCB BANK is performing well. Its deposits are growing day
by day and so its profitability. The controlling body is responsible for the productive
performance of the Bank.
Following are my observation and suggestion to improve the efficiency for the
development of the economy.
A big portion of the home remittance is sent by Pakistan working capital

through MCB Bank Limited. As we know a big portion of this amount is
wasted purchasing of luxuries. The people motivated to save money by
offering the deposit through various investment schemes. The rate of profit
should increase 1% or 2% than other banks and it would be profitable step for
bank.
There is a criticism on the banking management that the salaries of the

employees are decreasing in every succeeding year. And I think this will shake
the confidence and working habit of the employees.
There is another recommendation about the bank that there is no proper timing
of the bank and there is made an unnecessary delay in the banking
transactions, which might not be a good sign for the bank from future
prosperity point of view.
Staff turnover particularly of trained staff result in financial and other losses.
The amount spent by the bank on employment, induction and training of
outgoing officers constitutes to beat till another officer should ready prove this
work. The exodus of bank officer in the past has worsened the situation.
Most of the bank employees, are sticking to one seat only with the result that
they become master of one particular job and loose their grip on other banking
operation. In my opinion all the employees should have regular job experience
MCB Bank Limited

40
all out-look towards banking. The promotion policy should be adjusted.
Refresher Courses for the staff are most important in any international
organization.
Al the employees should have these courses according to their requirement.
Foreign experts can also be called for this purpose.
Every year some of the employees should be sent for training to other
countries and employees from other branches should be brought here. Some
more reading material should be provided. The purpose should be to educate
the employees with the advance studies in their field. The employee should be
provided the opportunities to attend and participate in seminars and lectures on
banking.
As such system should be designed that every employee who has some
problems with his officers can communicate it to the higher management and
some steps must be taken to improve that.
Recruitments should be strictly on merit basis and induction should be after

proper and extensive training.
Old and lazy staff should be replaced by young, qualified and energetic staff.
Foreign branches should be opened in order to capture the international market

and to earn international repute for the bank.
Working environment, equipment, furniture and staff dressing should be

according to the modern banking style.
Proper attention should be paid to upgrade customer services.
MCB Bank Limited

41
CONCLUSION
It is evident from this report and the financial statements of MCB that it
is making progress by leaps and bounds. The profits of MCB have grown
considerably during the last few years and this trend is expected to continue
into the future. Therefore, we conclude that MCB has a very prosperous present
and future, which assures the shareholders of wealth maximization. Side by
side of it I think that if bank would be able to cover and control on the above
mentioned recommendations then it would be in such a situation that will really
lead it towards the road of prosperity, development and integrity. And with the
above mentioned sentences I think there is too fault of the customers and in
order to make the proper working of the bank the customers should also
cooperate with the bank which will be really a good, ambitious and diligent
condition for the bank. And then bank will be really in such a situation and
position to compete its competitors in the country as well as on international
level.
MCB Bank Limited

42
REFERENCES
1. www.mcb.com.pk
2. www.bankshistory.com
3. www.google.com
4. www.ask.com

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Final Internship Report MCB

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MCB Bank Limited

MCB Bank Limited

"A banker is a dealer in capital or more properly a dealer in money. He is an

According to Banking companies ordinance 1962

Gomal University D.I Khan

MCB Bank Limited

Com m e rci al Banki ng i n Paki st an

Banks Position in 1973

Working of banks was extended to under developed areas.

Market expansion for credit and deposits.

Decrease in service level of bank officers.

Decrease in profitability as well.

Banks Position In 1992

MCB Bank Limited

Deposits (Rs. In Millions)

C) Post Nationalization Era

Nationalized Commercial Banks

Private / Privatized Commerce Banks

Public Sector Specialized Banks

Total Schedule Banks

In addition to above mentioned scheduled banks there are 7 Development

Gomal University D.I Khan

MCB Bank Limited

mcb historical Background

MCB Bank Limited

incorporated with an authorized capital of Rs. 15 million.

Gomal University D.I Khan

MCB Bank Limited

Gomal University D.I Khan

MCB Bank Limited

Gomal University D.I Khan

MCB Bank Limited

and lastly Special Assets Management (SAM) Group.

Province wise branches

Number of Branches in Different localities:

Gomal University D.I Khan

MCB Bank Limited

FURTHERMORE, THE BANK HAS SOME PROPOSALS UNDER

Chief Financial Officer

Gomal University D.I Khan

MCB Bank Limited

Gomal University D.I Khan

MCB Bank Limited

Area Head South

Area Head Centre

Area Head North

Commercial Sector 210 Branches

you a variety of products and services customized to satisfy your individual

Gomal University D.I Khan

MCB Bank Limited

Fields of Activities of MCB

Gomal University D.I Khan

MCB Bank Limited

Open Different accounts for different peoples

Accepting various types of deposits

Granting loans & advances

Collecting cheques and bill of exchange for the customers.

Transfer of money from place to place.

Acting an executor, trustee or attorney for the customers. Providing safe

Issuing of travelers cheques and letters of credit to give credit facilities to

Accepting bills of exchange on behalf of customers.

Purchasing shares for the customers.

Undertaking foreign exchange business.