Professional Documents
Culture Documents
PART-1..................................................................................................................................2
1.1 Introduction....................................................................................................................2
1.2.3 Products/Services.....................................................................................................3
PART 2..................................................................................................................................7
Internee’s Work.....................................................................................................................7
First Week.............................................................................................................................7
Second Week........................................................................................................................8
Third Week.........................................................................................................................10
Fourth Week........................................................................................................................10
Fifth Week..........................................................................................................................12
Sixth Week..........................................................................................................................16
2 Conclusion of report........................................................................................................20
References..........................................................................................................................21
1
PART-1
1.1 Introduction
I select the banking sector for my internship purpose. The concept of banking was
properly and initially presented by Knights Templers. They established the different
churches throughout Britain where one easily deposited the money or other things.
The concept of banking is just save the money and other things. Now the concept of
ATM is also given by him. This sector helped so much in people‘s life. This sector is
so much different from other sectors. The banking sector plays various roles in
economy world. For this purpose I select the Soneri bank Burewala branch, which
deals the different operations in daily routine. This is not quite old. Soneri bank soon
achieved a great and sound place in banking sector of Pakistan and also dominates in
the SME (small and medium enterprises) sector.
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Commercial banking
The bank has different departments, all the departments managed by skilled and
qualified person. The different departments are “leasing & loan department” “Trade
finance” “I.T department” “operational department” and “cash department” etc.
They take credit decision within forty eight hours. So that’s why they said. They
have more time for you. They have very good relation with foreign banks. The bank
considered their employees as assets of the bank which is more precious and
valuable. They give different rewards and bonus to their employees. They have
different products or services. They have ATM facility. People get the information
about their accounts through SMS alert. Now they also provide the service of “life
insurance” which is also unique feature.
Vision
They provide imaginary service and dynamic banking solution.
Mission
To develop Soneri bank into aggressive and dynamic Institution having capabilities
to provide the personalized service to customer with cutting edge, technology with
wide range of products.
1.2.3 Products/Services
1.2.4.1 Saving Accounts
Profit Loss Account & Soneri saving Account etc
1.2.4.2 Term Deposit
In this they have different types
Term deposit
Soneri premium
1.2.4.3 Other Accounts
Foreign currency Account
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Basic Account
Current Account
1.2.4.4Islamic Banking
The main branches of Soneri bank also deal with the Islamic banking operations.
Soneri Jari Account
Soneri Bachat Account
Soneri Manafa Account
1.2.4.5 ATM Service
They provide 24 hours service of ATM to the customers. This is the best service.
This service so much helps the people in their needy time.
1.2.4.6 SMS Alerts
This service gives a SMS alert in your mobile after each and every transaction of
cash while you deposit or withdraw or if you use ATM service.
1.2.4.7 Online Service
By use of this service you can easily transfer your money from one city to another
city.
1.2.4.8 Utility Bill Service
Bank provides this service to all the people that they can easily submit their utility
bills in the bank in the very easy way which is nearby them. This service helps the
people to save their precious time.
1.2.4.9Lockers
The Soneri bank also provides the service of lockers to people to keep their golf for
the safety purpose.
1.2.4.10 Electronic Banking
Now banking system is developed day by day. They also adopt the electronic
techniques. They used electronic banking system. Like
ATM
Telephone Banking
Utility Bill Service etc
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1.2.4.11 SME Finance
They provide the finance facility to the small and medium emprises (SMS) at
practical interest rate.
1.2.4.12 Agriculture Finance
They provide the agriculture finance to the farmers at reasonable interest rate and
also given the different variety of mortgage land.
1.2.4.13 consumer Finance
They provide the finance facility to the people for car, house, personal thing and
generator.
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1.3.4.1 Account Opening Department
In this department they opened the saving, PLS, current and basic accounts. They
have long but easy procedure for account open.
1.3.4.2 Clearing Department
In this department they handle in 3 types of clearing, Normal, Same day and
intercity. The duration of these clearing is:
Normal clearing (2 days)
Intercity clearing (3 to 4 days)
And most important thing in clearing that time is also important.
1.3.4.3 Import and Export
In this department they handle the foreign matters. They have long process to do
trade.
1.3.4.4 Cash Department
In this department they handled all kind of transaction like deposit, withdraw,
transfer, online and also ATM.
1.3.4.5 Loan and Leasing
In this department the bank provide different loan for the people helps with different
procedures.
1.3.5 Comment on Organization Structure
Overall the organization structure is good, well arranged, and well managed. All
employees do own work with their experience. They have many years knowledge.
They are skilled and qualified.
6
PART 2
Internee’s Work
There is lots of work which I do during my internship. I learn so many things from
my internship. All knowledge helps me in my internship reports.
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For opening the account they gave the form in which all rules, terms and condition
mention. Account department is first interaction between the bank and customer.
Bank deal with the two types of people
Type A (single, joint and sole)
Type B (partners, limited and club etc)
They provide different types account like Current, PLS, Soneri saving etc.
1.4.3.2 Procedure
For account opening, the bank need photocopy of CNIC and also verified through
NADRA and also copy of any kind of utility bill. After collecting these things from
customer the bank provide the account opening form to customer. Customer fills this
form after the completion of form, all information entered in computer and system
automatically given the customer relation management. They issue cheque book
within 3 days. The accounts opened for different currency like Pakistani, Euro, and
pounds etc.
Second Week
1.4.3.3 Clearing Department
The second week of my internship, I joined the clearing department which is also
handle by Mr. Waseem Toor and Miss Sadia. It is very interesting department
according to my knowledge. In this banks communicate with each other for clearing
purpose. There are 3 types of clearing; normal clearing, intercity clearer paying and
same day. A clearing house is a place where representatives of banks of a city settle
the receipts and payments of cheque drawn on each other. Kinds are:
Inward clearing
Outward clearing
1.4.3.3.1 Inward Clearing
Mean of this type of clearing is that all those cheques which are issued by account
Holder to other parties and now these cheques are presented for payment.
1.4.3.3.2 Outward Clearing
This type of clearing is that when outside parties issue some cheque to our account
holder, they when outside parties issue some cheque to our account holders; they
deposit these cheques. As other bank operating in country are sent to clearing
department.
“Saturday and Sunday off the bank”
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Third Week
1.4.3.4Cash Department
3rd week I joined the cash department, the supervisor of my Mr. Imtiaz Bhatti. It is so
much guides me, his attitude with internee so lovely. He has much year experience.
There is no chance of any mistake. They tell each and everything with procedure.
Cash department is very risk and tough. They keep the record of each and every
transaction. The important function of department is cash deposit and cash receipt.
1.4.3.5 Cash Deposit Procedure
Customer fill the pay slip, and given to cashier with amount. Cashier takes the slip
and amount and deposit in customer’s account with the help of computer. And also
maintain the record in computer with date, account number and amount. They stamp
the slip with the help of operational manager.
1.4.3.6 Cash Payment Procedure
When customer comes to withdraw his amount from his account, firstly he fills the
cheque with their signature. He gives to cashier, if the amount is less than Rs 50000
then they easily gives him. But if amount is greater than Rs 50000 then he will
investigate the people.
If customer withdraw amount his relative’s account then they again investigate that
person. These are the important rule of the bank.
Fourth Week
1.4.3.9 Remittance
In the 4th week I learned about the remittance under supervisor of Mr. Waseem Toor.
I got the idea of remittance, in actual what is remittance? It is the important
operation of the bank. This is related to the internal work of Soneri bank. This
department is controlled by 1 person to maintain the remittance account of branch.
There is following types of working:
BC (Banker cheque)
ATM
outward Bill Collection
inward Bill Collection
Intercity
1.4.3.9.1 Banker Cheque
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The concept of BC is old, because the old name of this cheque is Demand Draft
(DD), Mostly people use this cheque for their business. This is basically use for
transfer of amount from one person account to the other person in different city.
Consider, a customer want to made the BC on the account for a particular city
Islamabad. After having the total amount to be deposited with application from
banker’s cheque issued in favor of the specified person in Islamabad and drawn on
SBL Islamabad branch. When the instrument is presented by payee in any bank, it
continues the inward clearing of SBL Islamabad.
If customer does not use cheque, then they use DD (demand draft). Deduction fix(Rs
150+FED 16%).
1.4.3.9.2 ATM’s
SBL provide the service of ATM to customers 24 hours. This is very each way of
transaction. You can withdraw your amount from ATM in anywhere. When you use
own Soneri bank ATM, then no kind of tax charge. But if you use other bank ATM
then they charge Rs 15 as tax. ATM has only currency of Rs 500 and Rs 1000. There
are 2 types of ATM cards.
Classic (maximum Rs 35000)
Golden (Rs 50000)
1.4.3.9.3 Outwards bills for collection
When an instruments is drawn on a bank which is situated outside the city, its profits
can be collected through a mechanism called outward bills for collected works
(OBC)
All the cheques are received on one counter along with paying slip duly filled in
properly containing particular of cheques and account holder. Counter sheet of
paying slip is handed over to the customer by putting stamp for cheque received for
collection for Soneri bank on it duly signed by officer. These cheques are securitized
and cheques for local clearing are separated from OBC. Cheques are local clearing
entered in clearing register where number selected and crossing and support stamps
are affixed on the cheque.
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1.4.3.9.4 Inward bills for collection
If any other bank sends a cheque SBL it is inward bill collection (IBC) Soneri bank
remits money after examination the balance of the client account. The process of
collection starts when the cheques of SBL are received from other banks. Then these
cheques send to the head office Karachi, which sends the cheque SBP for clearing
and gets the information of cheque and credit advice. Main movement of clearing is
performed by head office which contracts other banks through SBP.
1.4.3.9.5 Intercity
It is an exchange for OBC, in which National organization of Facilitation
Technologies (NIFT) collects cheques from regional branch and receives payment
from non-Soneri Bank branch of other region, then reports back to the matching
branch. It has less time period of money transfer in the account but has higher bank
charges then OBC. This for example filling forms for OBC, Intercity and Banker’s
Cheque and I also handled IBCs and posted and decoded formulas from OBC and
IBC.
Fifth Week
1.4.3.10 Import Export Department
In this week my duty was in trade department, where I learned about trading
activities of Soneri Bank. Here my supervisor Mr. Aamir Usman guides me a lot
with me. I did not feel any kind of problem to asking any question about his
operational working of this department. He explains each and every thing with
detail. This department is closely relate with the foreign trade department it is
growth of the foreign trade whatever bank has to offer is carried out through the
import export department.
Advance expenditure
Cash against papers
D/A or on Credit
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1.4.3.11 Overseas Trade
Especially this type of trade exists between two persons or more persons (exporter
and importer). It issue letter of credit (L/C) comprising of guarantees, issuance of
documents including airway bills, bills of lading, E-Forms, Exchange rates etc.
The basic reason of L/C is to issue kind of guarantee on behalf of an importer. Like
if an importer asks for a consignment for which he or she intends to give late or on
credit than clearly the exporters needs some sort of guarantee that the importer will
really give back his or her money as promised. Here the banks play their role.
The bank which opens the L/C is usually on importer’s end giving a guarantee to the
exporter’s bank that in case the importer fails to pay the payment in due time than
the opening bank will pay on his or her behalf for opening an L/C there are certain
necessities which the bank take care of These are:
Sketch
Invoices
Bill of Lading
Weight Note
Shipper certificate
Packing inventory
Assurance plan
Certificate of Origin form
Inspection Certification
He guides me the whole procedure of their duties. How they perform it.
1.4.3.12 FORM “E”
Client of bank requested to the bank for issue the E-form for the import or export
purpose. He write the application and given to the manager. When application
approved by manager then they issue the form. This has four copies: original for
custom, duplicate for bank, triplicate for State Bank of Pakistan and last
quadruplicate for customer.
1.4.3.12.1 Following steps are involved in from “E”
Firstly bank requested his customer to complete all the papers. After finishing the
papers send to custom for clearing, and receive customer clearing certificate. Then
send the consignment to port. Lastly bank will send all the documents to issuing
bank.
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Bank is not blame for any damage. 100% margin required for opening L/C. with
passage of if party developed understanding with bank. The bank would give some
kind of relaxation in cash margin.
1.4.3.13 Imports
There are some things which are needed in Imports. Import start with letter of credit.
Information in L/C
Name of local company (import the goods).
Name of foreign company (export the goods).
Some Details of goods including their amount, quantity, style of packing.
Bill of consignment number
Total payment of letter of credit
Number of days (the letter of credit is valid).
1.4.3.14 Parties involve in a Letter of Credit
There are normally 5 parties involved in L/C. In this they need 2 buyers, 1 seller, 1
carrier and last 1 is insurance company.
Buyer (recognized as importer or consignee)
Buyer’s bank (recognized as opening paying bank)
Seller’s bank (known as advising bank or negotiating bank)
Carrier (known as shipping company)
Insurance company
1.4.3.15 OPENING OF L/C
For opening of L/C following documents are required by the bank.
Application of relationship
Assurance
L/C opening charges
Order or invoice or indent
Liability endorsement of customer
An L/C is issued after opening of letter of credit it is sent to exporter’s bank.
Postage charges
Commission
1.4.3.16 SWIFT
It is system among all banks. No other organization can get involved in it. The
SWIFT system has introduced the quick service in the area of residence remittances.
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The system has fitted features of computerized check keys, which remove the
manual application of test that often causes delay in the payments of home
remittances. SWIFT is operational at SBL; Burewala main branch code is
SONEPKKWZD.
Sixth Week
1.4.3.17 Credit department
In sixth and last week of my internship I have to work in credit department under
supervision of Assistant Manager Mr. Shehzad Hussain, a very nice, intelligent and
helping official of the bank. He told about everything which much detail and forced
me to learn. Over the New Year’s credit department of the SBL has got vital
importance beginning car finance. It is the idea in banks that more credit goes to the
customer more will be creditability of the bank in front of the customers. The credit
department two types of financing
Consumer financing
Corporate financing
Consumer financing also comprises of following types
Soneri Car Finance
Soneri Ghar Finance
Soneri Personal Finance
Soneri Generator Finance
1.4.3.18 Purpose of finance
Purchase of brand new: authorized finance must be utilized for brand new cars. No
finance will be available for used or reconditioned cars.
Unregistered cars (private use)
Unregistered light commercial vehicles (private use)
1.4.3.19 Corporate Finance
The main corporate finance products are:
General financing facility
Import financing facility
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1.4.3.21 Export financing facility
Soneri bank limited deals almost in all the above mentioned sections of corporate
financings: General financing is further divided into four types; these are given
below in detail:
Short-term running finance
Cash finance
Term finance
Order finance
WE SUPERVIS SIGNAT
EKS OR URE
WORK
FIRSTLY I
WORK IN
ACCOUNT
OPENING
DEPARTMENT.
1ST MR.
I LEARNED
WEEK WASEEM
ALL THE
TOOR
PROCEDURE
OF THIS
DEPARTMENT.
I WORKED IN
CLEARING
MISS
DEPARTMENT.
SADIA
2ND THIS IS QUITE
WEEK INTERESTING
DEPARTMENT.
I WORKED IN
CASH
DEPARTMENT.
3RD THERE ARE
15
WEEK DIFFERENT MR.
PROCEDURES. IMTIAZ
I FILL THE BHATTI
VOUCHERS
LIKE DEPOSIT
SLIP, ONLINE
SLIP.
I WORKED IN
REMITTANCE
DEPARTMENT.
4TH MR.
WEEK WASEEM
TOOR
I WORKED IN
IMPORT AND
5TH MR. AMIR
EXPORT
WEEK
DEPARTMENT.
6TH I WORKED IN
WEEK FINANCE
MR.
DEPARTMENT.
SHAHZAD
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1.4.2.1 Skill and qualification gained
I discover so many things during my internship. This six week efforts enhance my
skill and qualification. Today I have knowledge about bank terms and condition
which I heard before. In the nut-sell I can say that my internship gives me lots.
1.4.2.2 Kind of responsibilities
During my internship I perform different responsibilities in bank which is assign to
me. The best part of internship is, when you perform the different responsibilities
under supervisor.
1.4.2.3 Internship influence your future
Yes I can say that the internship influence my career. They give me so much
information about job. This kind of experience helps me in my future.
1.4.2.4 Internship correlated with class room knowledge
With the help of internship, I can say that practical knowledge is better than class
room knowledge. In the class you just take your lectures, but in the internship, you
personally experience the practical things.
2 Conclusion of report
At the end we conclude the report in some points what I learn during my internship.
How can I define my experience? What is the strength of bank and what is the
weakness.
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his duties, his document, his forms all thing is different from others. According to
my observation this is best sector for job and also for internship.
References
There are some references which is very helpful during making of my internship
report. These references give me so much knowledge about the Soneri bank.
http://www.soneribank.com/Online-Banking
http://www.soneribank.com/Branches
http://bizcovering.com/investing/clearing-department/
http://www.adb.org/documents/manuals/govt_expenditure/chap8.pdf
http://www.sbp.org.pk/about/remmittance/rf1.htm
http://www.sbp.org.pk/ecodata/kibor/2017/Dec/kibor-09-Dec-17.pdf
http://www.finance.utoronto.ca/gtfm/cash/cashier.htm
http://www.soneribank.com/document/url/22/scheduleofcharges.html
http://www.soneribank.com/document/url/6/annualreport2014.pdf
http://www.soneribank.com/document/url/49/Soneri_Annual_Report_2012.pdf
http://www.soneribank.com/Utility%20Bills%20Payment
http://www.soneribank.com/Saving-Account
http://www.soneribank.com/Consumer-Finance
http://www.soneribank.com/Agriculture-Financing
http://www.soneribank.com/Ikhtiar-Current-Account
http://www.soneribank.com/weightages
http://www.soneribank.com/Key%20Figures
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