1015 Internship Report HBL

Internship Report
ACKNOWLEDGEMENT
No one can say that I am perfect, everyone should admit that without the help of ALLAH and His people a man cant get anything so I bow my head before almighty Allah with gratitude. I am also very much thankful and presents salute to many individuals who have helped me in shaping this report .I am also very much thankful to lot of former fellows and contemporary colleagues who took the time and trouble during the last few days to speak to me about the way this text could be further improved. I have no wards to express my gratitude to my advisor Mr. Anwar Khan Niazi for his intellectual guidance without which it could have been rather difficult for me to complete this report. I am also very thankful to the staff Habib Bank Ltd. Wan Bhachran Mianwali Branch especially to Mr. Rizwan Ashraf Khan (Manager Teller and service) who provided me an opportunity to work in friendly environment. It was an honor and pleasure to work with: Mr. Anwar khan Niazi (Manager HBL Wan Bhachran Branch) Mr. Ikram Ullah Khan (Manager Operation) Mr. Muhammad Rizwan Ashraf (Manager Teller and Service) Mr. Shahid Mehmood Khan (Agriculture Finance Officer) Mr. Khan Baig (Teller Cash)
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Hailey College of Commerce University of the Punjab Lahore.
Internship Report
Table of Contents
No. 01 02 03 04 Description Executive Summary Evolution of Banking Commercial Banking in Pakistan History of Banking in Pakistan About HBL Pakistan History and Background Privatization HBLs Mission, Vision and values Board of Directors Management Corporate information 05 06 SWOT Analysis Operations of HBL Banking Departments in HBL Products and services of HBL 07 Learning and Duties as an Intern Foreign Exchange Department Bills clearing Department Credit Department Account, lockers, ATM Department Assignments Impact on my Career 08 09 10 Award and Financial performance Recommendations Glossary, Bibliography, Index 77 to 88 89 to 90 91 to 93 70 to 76 23 to 27 28 to 69 12 to 22 Page No. 03 05 07 to 11
executive summary
Every student of Commerce at Hailey College of Commerce University of the Punjab has an essential requirement to do Six to Eight weeks internship in any of the well reputed organization. The purpose of this program is to acquaint the students with practical applications of theoretical concepts taught to them during conduct of their .Com and M.Com program. The internship in Habib Bank was arranged by the 2
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job placement cell of the institute. Really, it was a nice opportunity to have a close comparison of theoretical concept in practical field, involving the use of primary and secondary data. All the efforts on the way are summarized in shape of this Internship Report. Report starts with the topic evolution of banking. The word 'Bank' is said to have been derived from the words Bancus or Banque or Bank. This history of banking is traced to as early as 2000 B.C. Talking about commercial banking in Pakistan It was very difficult for Pakistan to build up its own Banking system immediately after independence without sufficient resources. By 30th June 1948 the number of schedule banks in Pakistan declined from mere scratch. Today there are more than 7000 branches of commercial banks along with an established network of supplementary financial institutions. All this development in the banking sector is the result of untiring efforts of six decades. HBL was the first commercial bank to be established in Pakistan in 1947. Over the years, HBL has grown its branch network and become the largest private sector bank with over 1,450 branches across the country and a customer base exceeding five million relationships. On December 29, 2003 Pakistan's Privatization Commission announced that the Government of Pakistan had formally granted the Aga Khan Fund for Economic Development (AKFED) rights to 51% of the shareholding in HBL, against an investment of PKR 22.409 billion (USD 389 million). This report contains information about HBLs board of directors, management, mission, vision and values. HBLs operations are discussed in light of its working department in the branches like cash, clearing, foreign exchange and accounts department and also in light of its services and products which it is offering to customers weather they are individual, business, corporate or agriculture field related customers. HBL is currently offering phone banking, internet banking and various cash management services for the facilitation of its customers. HBLs car to car loan has its own uniqueness in Pakistans banking sector. HBLs branch network is extended all over the Pakistan which has its competitive edge over all other private sector banks in Pakistan. During the time of my internship in Habib Bank Wan Bhachran Mianwali I got the chance to work in all the departments of HBL working there. Duties and learning in each department is given in this report. Talking about financial performance of the bank in 2010 all the financial indicators are showing positive results when the 3
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financial performance of the bank in 2010 is compared with financial performance of 2009. During 2010 HBL also won some awards. At the end of this report I have given my suggestion for the improvement of the bank.
Evolution of banking
The word 'Bank' is said to have been derived from the words Bancus or Banque or Bank. This history of banking is traced to as early as 2000 B.C. The priests in Greece used to keep money and valuables of the people in temples. These priests thus acted as financial agents. The origin of banking is also traced to early 4
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goldsmiths. They used to keep strong safes for storing the money and valuables of the people. The persons who had surplus money found it safe and convenient of deposit their valuables with them. The first stage in the development of modern banking, thus, was the accepting of deposits of cash from those persons who had surplus money with them. The goldsmiths used to issue receipts for the money deposited with them. These receipts began to pass from hand to hand in settlement of transactions because people had confidence in the integrity and solvency of goldsmiths. When it was found that these receipts were fully accepted in payment of debts; then the receipts were drawn in such a way that it entitled any holder to claim the specified amount of money from goldsmiths. A depositor who is to make the payments may now get the money in cash from goldsmiths or pay over the receipt to the creditor. These receipts were the earlier bank notes. The second stage in the development of banking thus was the issue of bank notes.
The goldsmiths soon discovered that all the people who had deposited money with them do not come to withdraw their funds in cash. They found that only a few persons presented the receipts for encashment during a given period of time. They also found that most of the money deposited with them was lying idle. At the same time; they found that they were being constantly requested for loan on good security. They thought it profitable to lend at least some of the money deposited with them to the needy persons. This proved quite a profitable business for the_ goldsmiths. They instead of charging safe keeping charges from the depositors began to give them 5
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interest on the money deposited with them. This was the third stage in the development of banking.
COMMERCIAL BANKING IN PAKISTAN

It was very difficult for Pakistan to build up its own Banking system immediately after independence without sufficient resources. Following the announcement of the partition plan in June 1947 there was a haste movement on the 6
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parts of banks to transfer their funds and accounts across the borders. The banks having their registered offices in Pakistan were transferred to India. In an effort to bring about the collapse of the new state by the persecuting an international policy of withdrawal, the Indian bank offices closed quickly. Those banks, which stayed, were considering the winding up of their business. By 30th June 1948 the number of schedule banks in Pakistan declined from mere scratch.
Today there are more than 7000 branches of commercial banks along with an established network of supplementary financial institutions. All this development in the banking sector is the result of untiring efforts of four decades.
History of Banking In Pakistan

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: a) b) c) Pre-Nationalization Era Nationalization Era Post Nationalization Era
a) Pre Nationalization period

There were only two Muslim banks in Indo Pak before partition; they were .Habib Bank Ltd. (est. in 1941 at Bombay) & Australia Bank Ltd. (est. In 1944 at Lahore). All other banks, at that time, were either owned by Hindus or Foreigners.
At the time of partition there were 631 bank branches in area which came under Pakistani control. But due to blood shed and violence at large scale, mostly 7
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branches were closed and the disparity can be assessed from the fact that on July 1948 there were 195 branches with deposits of Rs.88 crore (880 million) only. Also a factor lagging in Pakistani industry was a central bank of its own, by that time Reserve Bank of India was acting as central bank for both countries and same currency notes were used in both territories. But Reserve Bank of India was biased and Set down Pakistan on many occasions such as the issue of funds transfer etc.
In this period drastic steps were taken in government sector for the improvement of overall position. The private sector also responded to these changes and some very positive changes were observed. Some of the steps taken by the government in this regard were as under:
1) Inauguration of State Bank of Pakistan (SBP) on 1st July, 1948. 2) Setting up of National Bank of Pakistan in November, 1949 to control the 'jute' export in East Pakistan and to act as agent of SBP. 3) Larger powers were given to SBP through SBP Act (1956) for controlling purposes. 4) Banking Companies Ordinance 1962 for protection and guidance to banks. 5) Establishment of specialized banks, such as ADBP (1952); a) HBFC (Nov, 1952); b) P1CIC (Oct, 1957) c) IDBP (Aug. 1961); d) NDFC (Jan, 1973).
These were the steps, which built a strong banking sector in Pakistan. This is also obvious from the facts that by 1973 there were almost 10 foreign banks were working in Pakistan and all over deposit position was around Rs.2300 crore (23,000 million). A bird eye view of 5 top banks was as given below:
BANK POSITION IN 1973

BANK NO. OF BRANCHES DEPOSITS (Rs in Million) 8
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HBL NBP UBL MCB ABL 667 579 497 506 145 6,160 5,660 5,670 1,640 570
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 which shows the deposit & branch positions of different nationalized banks. 9
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BANK POSITION IN 1992

Bank HBL NBP UBL MCB ABL TOTAL No. of Branches 1926 1448 1684 1288 750 7096 Deposits (Rs. In Millions) 153,431 128,679 87,482 50,013 33,757 453,362
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- 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.
d) December 29, 2003 HBL was taken by AKFED 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 figure: 10
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Structure of Financial Sector in Pakistan

Scheduled Banks (47) - Commercial banks - Specialised banks NBFIs - Modarabas - Leasing companies - Mutual funds - Specialised financial (DFIs) - Investment banks - Housing Finance Companies
Specialised Banks
Commercial Banks
Foreign Banks (22)
Domestic Banks (25)
About Habib Bank Limited

HBL was the first commercial bank to be established in Pakistan in 1947. Over the years, HBL has grown its branch network and become the largest private sector bank with over 1,450 branches across the country and a customer base exceeding five million relationships. With a presence in 25 countries, subsidiaries in Hong Kong and the UK, affiliates in Nepal, Nigeria, Kenya and Kyrgyztan and representative 11
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offices in Iran and China, HBL is also the largest domestic multinational. The Bank is expanding its presence in principal international markets including the UK, UAE, South and Central Asia, Africa and the Far East. Key areas of operations encompass product offerings and services in Retail Banking. HBL has the largest Corporate Banking portfolio in Pakistan with an active Investment Banking arm. SME and Agriculture lending programmes and banking services are offered in urban and rural centers. In the UK and GCC, HBL focuses on trade finance and remittances for the South Asian Diaspora in addition to basic banking facilities. HBL has always been a bank and a brand for the masses, with a history that is inextricably linked with the history of Pakistan itself. As it continues to grow, both locally and abroad, it strives to embody its brand personality: honest, approachable, and inclusive. HBL is currently rated AA+ (Long term) and A1+ (Short term)*. It is the first Pakistani bank to raise Tier II Capital from external sources.
HISTORY AND BACKGROUNG

Habib Bank Limited was established by Mr. Ismail Habib (Late) on August 25, 1942 at Bombay. It was the first Muslim Bank of the sub-continent. It was established with a paid up capital of Rs. 2.5 million. At an early stage, the number of its branches was only 12. 12
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HBL established operations in Pakistan in 1947 and moved its head office to Karachi. Our first international branch was established in Colombo, Sri Lanka in 1951 and Habib Bank Plaza was built in 1972 to commemorate the banks 25th Anniversary. With a domestic market share of over 40%, HBL was nationalized in 1974 and it continued to dominate the commercial banking sector with a major market share in inward foreign remittances (55%) and loans to small industries, traders and farmers. International operations were expanded to include the USA, Singapore, Oman, Belgium, Seychelles and Maldives and the Netherlands.
Privatization of Habib bank

On December 29, 2003 Pakistan's Privatization Commission announced that the Government of Pakistan had formally granted the Aga Khan Fund for Economic Development (AKFED) rights to 51% of the shareholding in HBL, against an investment of PKR 22.409 billion (USD 389 million). On February 26, 2004, 13
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management control was handed over to AKFED. The Board of Directors was reconstituted to have four AKFED nominees, including the Chairman and the President/CEO and three Government of Pakistan nominees.
HBLs Vision, Mission and Values

Vision
Enabling people to advance with confidence and success .
Mission
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To make our customers prosper, our staff excel and create value for shareholders.
Values
Our values are the fundamental principles that define our culture and are brought to life in our attitude and behaviors. It is these values that make us unique and unmistakable. Our values are defined below:
Excellence
This is at the core of everything we do. The markets in which we operate are becoming increasingly competitive, giving our customers an abundance of choice. Only through being the very best in terms of the service we offer, our products and premises - can we hope to be successful and grow.
Integrity
We are the leading bank in Pakistan and our success depends upon trust. Our customers - and society in general expect us to possess and steadfastly adhere to high moral principles and professional standards.
Customer Focus
We understand fully the needs of our customers and adapt our products and services to meet these. We always strive to put the satisfaction of our customers first.
Meritocracy
We believe in giving opportunities and advantages to our employees on the basis of their ability. We believe in rewarding achievement and in providing first-class career opportunities for all.
Progressiveness
We believe in the advancement of society through the adoption of enlightened working practices, innovative new products and processes and a spirit of enterprise.
Board of Directors
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NAME DESIGNATION
Sultan Ali Allana
CHAIRMAN
R. Zakir Mahmood
PRESIDENT & C.E.O
Mushtaq Malik
DIRECTOR
Ahmed Jawad
DIRECTOR
Yasin Malik
DIRECTOR
Moez Jamal
DIRECTOR
MANAGEMENT
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Management Hierarchy
PRESIDENT
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BOARD OF DIRECTOR
MEMBER EXECUTIVE BOARD
REGIONAL CHIEF
ZONAL CHIEF
BRANCH MANAGERS
DESIGNATIONS
President Senior Executive Vice President (SEVP)
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Senior Vice President (SVP) Vice President (VP) Assistant Vice President (AVP) Officers Grade 1 Officer Grade II Officer Grade III Cashier Clerks Peon
Corporate Information
Head Office
HBL Plaza
I. I. Chundrigar Road Karachi-75650, Pakistan. Tel: +92 (21) 2418000 [50 lines] Fax: +92 (21) 9217511 19
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Registered Office
4th Floor, Habib Bank Tower Jinnah Avenue Islamabad, Pakistan. Tel: +92 (51) 2872203 Fax: +92 (51) 2872205
Registrars
THK Associates (Pvt.) Ltd. Ground Floor, State Life Bldg No. 3 Dr. Ziauddin Ahmed Road Karachi, Pakistan. Tel: +92 (21) 111-000-322
Websites
Corporate website: www.hbl.com Treasury website: www.hblgtr.com.pk Ebank (internet banking): www.hblebank.com
Auditors
KPMG Taseer Hadi & Co. Chartered Accountants
Global location
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Global locations
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SWOT analysis
Strengths
Strength can be defined as an area where a company is best at doing something or a feature that puts the company at an advantage in comparison to its competitors. HBL enjoys the following strengths:
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HABIB BANK is a well established bank enjoying long history of over 65 years of experience and profitable operation. HBL is the largest private bank in Pakistan now and people trust is very high. It has the largest branch network among private banks of Pakistan. HBL has been very effective in controlling costs as it successfully restructured itself after its privatization. During this process more than 1,600 employees were relieved under a golden handshake scheme and 110 branches were closed. Excellent branches appearance gives an edge to HBL over other banks. The branches are well furnished even in less developed areas where other banks branches give a poor view. HBL has the ability to bring innovative products and services like personalized service, electronic funds Transfer, sophisticated financial products such as electronic banking, auto-teller machines and evening banking. The Banks Rupee Traveler Cheques have been market leaders for the past six years. HBLs car to car financing scheme is unique in auto loan segment. Habib bank is an internationally recognized name in banking services and products. HBL has forged strategic alliances with international banks for expanding its network further, both locally and internationally.
Weaknesses
A weakness is defined as an area in an organization where the organization is not as good at doing something as its competitors or a thing which an organization lacks thus putting the organization at disadvantage in comparison to its competitors. Based on the above definition, HBL has the following weaknesses.
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Lack of communication between bank and customers about terms and condition of products and services. Like centralization of cheque book issuing process. Employees at branch level are not properly motivated to work by heart. They take the all routine activities as a boring job. Most of the employees lack managerial training as they are not properly educated. Due to seniority, they have moved up on the hierarchy line to Grade-I, II or III positions having hardly bachelor degrees. This type of senior staff cannot apply the modern and innovative techniques of management in decision making. Mission of HBL is not well defined. Though HBL is second largest bank in Pakistan, yet the fact remains that it is not market leader as NBP. Its total assets are always less than NBP total assets. Now as it is a privatize bank that is why GOVERNAMENT support to HBL decreased as it was in past
Opportunities
An opportunity can be defined as a change in external environment which if properly exploited with the organizational strengths will result in enhanced sales, market share, or income. Using its strengths, HBL can avail the following opportunities. Opportunities require explanation therefore I have used headings instead of arrows 24
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E-Banking Generally speaking, three factors, quickness, easiness and cheapness have become the catchwords for the competitiveness and usefulness of all the business operations. Particularly it is commonplace today to say that banking is undergoing a radical transformation. The symptoms are new products, new players, new channels etc. This transformation is taking place across all sectors of the banking industry. That is why Habib bank urgently needs to improve their ability, to think strategically about IT investments. Only those banks that use their technology resources effectively have the opportunity to secure real competitive advantage in this fastchanging industry through real product or service differentiation. High mark up rates Of late markup rates have increased considerably. Present rates are 4% above KIBOR i.e. 16% appx. High markup rate has decreased the interest of people in loaning from from banks. Habib bank can increase its income by offering loan at lower interest rate than other banks.
ONLINE BANKING It is doing banking transactions through our home P.C. The banks that do business through net have Websites. The customer clicks into the Website and gets the history of the bank. Then he can demand the necessary application form through the net. He fills in the form and passes it on to the bank. The Online banking is fast gaining ground in Pakistan. Some software companies are also offering networkbanking facilities. So Habib bank should focus heavily on providing online banking faculties to its customers. Currently it is doing the same. CORPORATE BANKING TERMINAL (CBT)
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Large corporate customers can log into the bank's database and have access to their accounts/transactions from their business houses. This facility has still not been started for customers in Pakistan. So Habib can focus on that. AUTOMATIC TELLER MACHINE (ATM) This system is known as "Any Time Money" because it allows customers who have an ATM card to withdraw money at any time from the bank without interacting with human teller. Since the ATM machine can be installed anywhere like petrol bunks, markets, railway stations etc, and can well be linked to the main computer. It allows customers to transact with the bank 24 hours a day and 365 days a year. They allow the customers to transfer money to and from accounts to view account information, to receive cash. It can also be used to deposit cheques and cash into the accounts. No bank in Pakistan is offering this service currently. So an opportunity exists for Habib bank to differentiate. Rate of return The range and choice of products available & offered by the commercial banks is limited. Rates of Return / Profits on Deposits are so low and unattractive that very limited options are available to the depositors. They do not match the current rate of inflation. HBL differentiate and increase its deposit by offering attractive rate of return on deposits.
Threats
Threat can be defined as a change in external environment which if not met with proper strategies will result in loss of revenues, market share, or income. In the context of HBLs external environment, the following potential threats exist: 26
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Other private commercial bank with sound profitability is also a threat to HBL e.g. UBL, Alfalah, MCB etc The Rupee Travelers Cheque (RTC) sales volumes may be affected on account of regulatory restriction imposed by SBP on issuance of large value denominations. For the last of 2 to 3 years, Pakistan is facing economic and political instability which is a big threat. Foreign banks are flourishing in field of consumer financing. Afghan war and Iraq war has a deep effect on the economy of Pakistan, which has affected HBL. Increased regulations from State Bank of Pakistan may affect its business.
Operations of HBL
A. banking departments of habib

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bank
Various departments are working in all the branches of Habib bank to facilitate the customers. Following are the banking departments functioning in HBL Jinnah Chowk branch Sahiwal.
1. 2. 3. 4. 5.
Account opening department. Cash department. Credit department. Bill clearing department. I.T department.
Accounts opening department

Basic function of the accounts department is to open new account and facilitate the customer for the account opening purpose. There are certain formalities which are to be observed for opening of an account with a Bank. These formalities in brief are as under: 28
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FORMAL APPLICATION The customer is to fill "Account Opening Form. It is a formal request by a customer to the bank to allow him to have and operate the account.
Documents require for opening an account Copy of CNIC Service certificate or student card. Utility bill Provisional receipt KYC (Know Your Customer) SPECIMEN SIGNATURE: When the Banker is satisfied about the integrity of the customer, he agrees to open the account. The Banker obtains the specimen signatures of the customer on the signature book or on card.
Posting the account on the system After that officer has to post the new account on computer system for further processing. During the process customer id and account number is generated. New account remains active for one day after that it is blocked by the head office until CNIC of the customer is verified from NADRA.
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Cheque book issuing After the CNIC verification account opening officer has to issue a cheque book to customer so that he can be able to make withdrawal from his account. Now a day in Habib bank cheque book issuing process is centralized that take 06 days to complete. SECRECY The secrecy of depositors account is the. Responsibility of every official engaged in the Bank service.
Types of accounts:
Individual accounts Individual accounts are the most common personal investment accounts. Opened by single person.
JOIN ACCOUNT A joint account occurs when two or more than two customers have one account. The parties to a joint account are considered in law as they are one person.
Business accounts Business accounts can be opened by institutions, companies, partnerships, trusts and non-profit organizations. Following documents are required.
BOOKS RELATING TO CUSTOMERS: Pay-in-Slip 30

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When money is to be deposited in the bank the pay in slip is to be filled. The object of this book is to provide the customer with the banks acknowledgement for receipt of money to be credited his account.
Cheque Book A chequebook contains a number of cheques, which is given to a customer upon written request and after marking the payment for the chequebook. It enables a customer to make withdrawal from his account or make payment to various parties by issue of cheques. GROUNDS FOR CLOSING THE CUSTOMERS ACCOUNT: The banker may close the account of the customer due to following reasons: i. Notice by a Customer ii. Death of a Customer iii. Customers Insanity iv. By order of court I) NOTICE BY CUSTOMER The banker closes the account of the customer on the application of the customer for closing his account.
II) DEATH OF CUSTOMER On death of his customer, the bank must stop payment on cheques drawn on him by the deceased customer because the death revokes his authority to pay such cheque. The heirs or the executors of the deceased customer are not authorized to operate on the account; it can act only in accordance with provisions mentioned in the letter of probate issued by a competent courts. III) CUSTOMERS INSANITY If the customer becomes insane or mental it terminates the bankers authority to act as his customers agent. Since the banker customer relationship comes to end, in such as situation, it is usually considered that the bankers authority to pay his customers cheques is revoked by notice of insanity. However, the bankers treat their 31
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customers as it unless a fairly inclusive evidence of the customers insanity is available to them. IV) ORDER OF COURT A court of law may serve a banker with an order in garnish proceeding in execution of a decree prohibiting him from honoring a customers cheques.
Cash department
ash Department is very sensitive and risky part of the bank. Very causations and competent personnel are needed for the Job. HBL has really such a diligent staff with appreciable competencies and will to do 32
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work. Main function of cash department is to deal with cash payment and cash receipts.
Cash deposit procedure

The customer fills the pay slip. The cashier receives the pay slip and cash. He counts the cash and makes the detail of the notes at the back of the pay slip. Then he compares the detail with amount written on slip and signs the pay Slip. Then he credits the entries in the computer by serial No, account type, Account number and amount. Puts the stamp of the cash Received on the payment slip. The first portion is for bank record while other one is given to the customer.
Cash payments procedure

When a customer comes to withdraw a certain amount from his account, he brings a Cheque along with him. In this case the following steps are taken. The cashier receives the cheque and checks it whether it is post dated or predated. Cheque can be cashed within six months. A predated cheque cannot be cashed. He takes two signatures at the back of the cheque from the bearer. He gives the cheque for posting at the computer. The computer checks out whether there is balance in the Account or not. Other instructions are also received e.g. blocked, frozen, Etc. the posting is done in the computer and the cheque is stamped posted with the serial number and date. He gives the cash to bearer and the respected account is debited.
Online fund transfer

Another function of the cash department is of online transfer of funds. Customer has give filled remittances form with cash or without cash (from account transfer) to the cashier in cash department who will then credits the beneficiary account.
Balancing cash at the end and transferring excess cash

At the day end cash department is responsible for balancing the cash. Physical cash should be balanced with the amount in the computer. Jinnah Chowk branchs limit for cash is 40 million which it can keep within the branch over the night excess cash is transferred to NBP. 33
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CREDIT DEPARTMENT
1. Introduction 2. Securities. 34
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3. Types of credits INTRODUCTION The function of credit department is to lend money in the form of clean advances, against promissory notes, as well as secured advances against tangible and marketable securities. The bankers prefer such securities that do not run the risk of general depreciation due to market fluctuations. Common Securities for the bankers advances are as under:SECURITIES 1. Guarantees When an application for advance cannot offer any tangible security, the banker may rely on personal guarantees to protect himself against loss on advances or overdraft to the applicant.
2. Mortgage A mortgage is the transfer of an interest in specific immovable property for the purpose of security the payment of money advanced or to be advanced by way of loan, and existing or future debt, or the performance of an engagement which may rise to a pecuniary liability. The transfer is called a mortgagor, the transferee a mortgage. 3. Hypothecation When property in the shape of goods is charged as security for a loan form the bank the ownership and possession is left with the borrower, the goods are said to be Hypothecated The essence of hypothecation is that neither the property in the goods not the possession of them are possession is left with the borrower, the goods are said to be Hypothecated the essence of hypothecation is that neither the property in the goods not the possession of them are possessed by the lender, but the security is granted by means of letter of hypothecation, which usually provides for a bankers charge on the hypothecation goods. 4. Pledge
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In a pledge the ownership remains with pledge, but the pledge has the exclusive possession of property until the advance is repaid in full. While in case of the default the pledge has the power of sale after giving due notice. 5. Promissory Note Sometimes promissory note is also accepted as a security, "A promissory note is an instruments in writing containing an unconditional undertaking signed by the maker, to pay on demand or at a fixed or determinable future time a certain sum of money only, to or to the order of certain persons, or to the bearer or the instrument." A promissory note is incomplete until has been delivered to payee or the bearer. Moreover, the sum promised in a promissory note may be made by two or more makers who may be liable there on jointly and severally.
TYPES OF ADVANCES
The advances which are given by Habib Bank Limited are as under:1. DEMAND FINANCE (Ordinary Loan) Demand Finances are those advances which are allowed in lump sum for a fixed period and are repayable lump sum or gradually in installments. TYPES OF ADVANCES a. Demand Finance (Packing Credit) Scheme introduced by State Bank of Pakistan for exporter of carpet, surgical instruments, at zero percent rate of interest. While banks provides at concessional rate of interest. b. Loan ordinary (Demand Finance to Students) Qarz-e-Hasana Scheme Loans are allowed to the students, teachers without any interest or mark up with the recommendations of the MPA or MNA. c. Demand Finance (Staff) Loans are offered to the staff of the following four categories. i. House Building Loans against mortgage of property. ii. Loan for purchasing vehicles. iii. Loan equivalent to months salary. 2. RUNNING FINANCE (Overdraft) Running finance (old name overdrafts) are advances, which are generally, given to meet temporary requirements of the customers. A good customer use the banks 36
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running finance limit as a mean of protecting his credit in the market and as a line of security defense to meet his commitments.
TYPES OF RUNNING FINANCE I. Unsecured Under such type of overdraft the bank pay upon the personal security of the customers mentioned on the customers account. II. Secured Under this type of overdraft the bank allows his customer to withdraw more than his deposits after giving security against the amount overdrawn.
The securities against which they given are: i. Share certificate, Saving certificate ii. Deposits iii. Mortgage of property iv. Guarantee of person SMALL LOANS Loan is allowed to contractors clearing and forwarding agents. 3. FINANCE AGAINST THE FOREIGN BILLS (FAFB) The advance facility is allowed both to local foreign bills and is classified as under:i. FAFB (Local) advance against Railway receipts and truck receipt, a company with bills of exchange and invoices, are given under this head. ii. FAFB (Foreign) advances against foreign bill, covering bills of exchange bills of lading airway bills of exchange bills of lading airways bills etc.
4. AGRICULTURE LOANS Loans to the farmers with holding up to 25 acres for meeting their short terms, medium and long terms Agricultural production requirements, such as: 37
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i. ii. iii. iv. Agricultural inputs Tube wells Live Stock Framing Land improvement
5. INDUSTRIAL LOANS Besides the short-term loans which play a part in working capital medium and longterm loans are also given to industrial sector for purchase of machinery and other capital nature goods.
Bills clearing department

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INTRODUCTION Every bank acts in two way i.e. i. Paying Bank ii. Collecting Bank Here in theory no legal obligation on a banker to collect cheques, drawn up to other banks for a customer. It is, however, an important function of crossed cheques. A large part of this work is carried out through the N.I.F.T. NIFT- National Institutional Facilitation Technologies (Pvt.) Limited: NIFT is a joint venture between a consortium of six major banks and private sector. It is responsible for the establishment and management of automated clearinghouse facilities in Pakistan. NIFT is proactively involved in the modernization of payment systems in Pakistan. FUNCTION OF CLEARING DEPARTMENT The following are the main functions of clearing department. 4. To accept transfer deliveries and clearing cheques from the customer of the branch and to arrange for their collection. 5. To arrange the payment of cheque drawn on the branch and given for collection to any other branch of Habib Bank of Pakistan or any other members, or sub-members of the local clearing area.. 6. To collect amounts of cheques drawn on members, sub-members of the local clearing house, sent for collection by those Habib Bank Limited, branches which are not represented a the local clearing area. PROCEDURE OF DEPOSITING CHEQUES IN CLEARING DEPARTMENT Whenever a customer wants to deposit cheque, etc, he fills a pay in slip and hands it over the counter along with the instruments he wants to deposit with bank. As far as possible, the customer desire that on of the staff member fill in a slip for him, he should be obliged promptly. One portion of the perforated pay in slip is handed over to the depositor and the portion becomes the regular portion of a credit voucher TYPES OF CHEQUES COLLECTED BY CLEARING DEPARTMENT 39
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a. Transfer Cheques Transfer cheques are those cheques, which are collected and paid by the same branch of bank. b. Transfer Delivery Cheques Transfer Deliver cheques are those cheques, which are collected and paid by two different branches of a bank, situated in the same city. c. Clearing Cheques Clearing cheques are those cheques in which the payee (Person who deposit cheques for collection) and the drawer of a cheque maintain the account with different banks. These clearing instruments are handed over to NIFT after posting necessary stamps and checking them for any errors. Then further process of clearing is carried on the behalf of NIFT.
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Forex Department
International trade is growing and with the development of international trade it has become more imperative. For countries to devote more and more attention to the complicated mechanism of Foreign Exchange. It is more important in case of developing countries. It is need of time, that a country should conserve its foreign exchange resources. MEANING OF FOREIGN EXCHANGE The foreign exchange term refers to the principles that determine the rate of exchange. It covers following three senses: i. The mechanism or system by which international obligations or indebtedness are fulfilled. ii. The currency of one country is exchanged for that of another. iii. The principles on which the people of world settle their debts to one another.
Letter of Credit: It is a negotiable instrument through which the bank of the exporter deals with bank of the importer through the guarantee of a bank. There are different parties involved in the L/C, e-g importer, exporter, importer bank, exporter bank, and advisory bank. LC involves banking channels in foreign trade to mitigate risk. The procedure of opening of an L/C is as follow The first thing is the Performa invoice. The Performa invoice is a document (say a clip), which is, sends by the exporter to the importer and includes the information like. Descriptions of goods, what type of goods you are needed and what are the quality, rate and originating country etc. Before to open a L/C the bank also consider that the goods which the importer is importing is allowed by govt. of Pakistan or not. Because the importer is not allowed to import that goods which are prohibited by the Govt. of Pakistan.
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The importer is asked to show the membership certificate of any chamber of commerce and industry affiliated with the Pakistan federation of chamber of commerce and industry. Fill the import form of the govt. of Pakistan, which is the proof of this that there is no objection on the goods, which the customer is importing. What type of goods you are needed and what are the quality, rate and originating country etc. Necessary Documents required for L/C: NTN Tax Authority registration certificate Chamber of Associations trade certificate Type of Business NIC Margin Registration No. Application for L/C On providing these documents the importer will be given the L/C form named as IB-8. Contents of IB 8 1. Request for LC 2. Rate 3. Importer and Exporters particulars 4. Amount 5. Terms 6. Partial Shipment (Allowed, not allowed) 7. Transshipment (Allowed, Not Allowed) 8. Port of Loading and destination 9. Payment Mode I. Sight On seeing the documents the importer has to pay. 42
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II. At Sight and Negotiation: It means that exporter will submit his documents with the bank and immediately asks for payment. III. Acceptance: On showing the documents to the importer, the bank asks him to accept that he will pay within 30, 60, 90, 120, 180 etc days. 10. Documents Required: Certificate of Origin. Commercial Invoice Bill of Lading / Air way bill. Charges: For L/C following charges are applicable; Commission Postage L/C Advising commission L/C amendment Commission L/C confirmation Commission L/C Negotiation Commission Payment Mode: In foreign trade payment modes are 1) Advance Payment: Importer makes payment before delivery of goods. 2) Open A/C: Importer makes payment after receiving the goods. Issuing foreign exchange accounts cheques books Another function of foreign exchange department in Jinnah Chowk branch is to issue foreign exchange accounts cheques books to customers on request. This process is not yet centralized. Cheque book is issued within 15 minute of receiving request from customers after making necessary register entries and posting stamps on it. 43
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Products and Services of Habib Bank Limited
Retail Banking
For
Individual Customers
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Deposit Accounts
Current Accounts
Make unlimited transactions while maintaining a low minimum balance every month. HBL is currently offering three types of accounts in current account category. Their detail and name is as under. 1. HBL BusinessValueAccount 2. Current Account 3. Basic Banking Account (BBA)
HBL BusinessValueAccount
Unique transactional account for Businessmen Up to 5.35%* profit per annum Profit calculated daily, paid every quarter Minimum balance of Rs. 20,000 HBL DebitCard and Inter Branch Transaction System (IBTS) facilities Up to 10 Bankers Cheques free (at minimum balance of Rs. 500,000) Funds transfer to any bank through HBL PhoneBanking
Current Account
Minimum balance of Rs. 5,000 Unlimited transactions Non-profit bearing HBL DebitCard and Inter Branch Transaction System (IBTS) facilities Funds transfer to any bank through HBL PhoneBanking
Basic Banking Account (BBA)

Can be opened with only Rs. 1,000 No minimum balance requirement 45
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Upto 2 withdrawal and 2 deposit transactions free every month Unlimited withdrawals through HBL DebitCard Non-profit bearing
Savings accounts
Avail the flexibility of making transactions while earning profit on daily/monthly basis. HBL is currently offering five types of accounts in savings account category. Their detail and name is as under. 1. HBL Value Account 2. PLS-Savings Account 3. Remittance Munafa Plus Savings Account 4. Daily Munafa Account 5. Daily Progressive Account
HBL Value Account

7.19%* profit per annum Profit calculated monthly, paid every quarter Deposit ranges from Rs. 10,000 to Rs. 1,000,000 Two withdrawals free every month
PLS-Savings Account
5.06% profit per annum* Profit paid bi-annually HBL DebitCard and Inter Branch Transaction System (IBTS) facilities Funds transfer to any bank through HBL PhoneBanking Minimum balance of Rs. 20,000 Unlimited transactions
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Remittance Munafa Plus Savings Account
Special account for receiving foreign remittances 5.12%* profit per annum Profit paid every month Minimum balance of Rs. 20,000
Daily Munafa Account

Profit calculated daily, paid every month Up to 8.84% profit per annum* HBL DebitCard and Inter Branch Transaction System (IBTS) facilities Funds transfer to any bank through HBL PhoneBanking Minimum balance of Rs. 20,000
Daily Progressive Account

Unique transactional account for Institutions Profit calculated daily, paid every month Up to 11.57% profit per annum* Inter Branch Transaction System (IBTS) facility Funds transfer to any bank through HBL PhoneBanking Minimum balance of Rs. 20,000
Terms Accounts
Invest your savings in HBL term deposits for a fixed duration and earn profit while keeping your savings secure. HBL is currently offering one type of account in terms account category. Their detail and name is as under. 1. HBL Advantage Account
HBL Advantage Account

Multiple options for tenure and profit payout Loan facility up to 90% of investment Minimum investment of Rs. 25,000 Withdrawal at end of fixed term 47
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Tenure 3 MONTHS 6MONTHS 1 YEARS 3 YEARS 5 YEARS 10 YEARS
Profit at maturity 7.50%* 8.00%* 11.00%* 13.00&* 14.00%* 17.00%*
Foreign Currency Accounts

HBL offers Foreign Currency Accounts in multiple currencies as savings and term accounts. Their detail is as under.
FC-SB
Savings Account offered in 3 currencies, USD (US dollar), EUR (Euros) and GBP (UK pound) Tiered product, with rates depending on choice of currency To earn profit, minimum balance in USD, EUR and GBP is 1,000 Interest is payable on a quarterly basis
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HYFFD (High Yield Foreign Currency Fixed Deposit)
Available in 1 month, 2 month, 3 month, 6 month and 12 Month in USD, EUR and GBP Tiered product, with rates depending on choice of currency and term Profit paid on maturity only. No interim interest is payable.
*NOTE: All the rate and terms and condition are revised by HBL after every six months periods. These rates are only applicable for period 01.07.09 to 31.12.09. Further detail of terms and conditions about profit and rates is given in annex B.
HBL car loan

HBL Car Loan helps customers to get their preferred car through a simple and hassle-free process, backed by superior service and support. Now customer can drive a car he always wanted.
Features
Choice of used, new local/imported and reconditioned imported car. Repayment options ranging Upto 7 years. Upto 85% of financing for the car of your choice. Insurance at all times for complete peace of mind and security. Round the clock support available through HBL PhoneBanking; you can place your requests and queries, track the status of your repayment/loan account and avail other value-added services through HBL PhoneBanking. 49
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Eligibility Criteria
How to apply
Just visit any HBL branch or Habib Bank Auto Finance Centre for details and application. Submit complete set of application without any charges to the branch or the Auto Center. Sign the necessary documents on approval of the application Payment is released within 24 hours of the submission of post-dated cheques and initial payment after approval of the request.
Documentation
Salaried Individuals Complete Application Form Salary Certificate / Most recent Salary Slip Bank Statement for past one year Two Copies of NIC Employment Certificate with date of joining Two passport size photographs Copy of the last paid utility bill (residence) Self-Employed Business persons/Professionals Complete Application Form 50
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Two Copies of NIC Two passport size photographs Letter of proprietorship / Registered Partnership Deed Certified latest Form A and Form 29, where applicable, along with articles and Memorandum of Association Copy of last paid utility bill (residence) Bank Statement for the last 1 year
HBL car to car

HBL CarToCar is a revolutionary car financing offer. It makes the car of customer choice affordable and practical with a buy back guarantee. HBL CarToCar offers matchless features and unique options at the end of the lease. Now customer can drive a new car at the end of every two years.
Features
Pay only for what you use When customer lease a car under HBL CarToCar, he only pay for that part of the cars value that he use during the lease term. The cars residual value (forecasted for the end of the specific lease term) is agreed with him at the start of the lease term. This amount is deducted from the car price thus lowering the finance amount. This finance amount is based only on a part of the cars value and not the full value of the car. Therefore, HBL CarToCar offers very low installments as compared to any conventional financing. Upgrade of lifestyle
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HBL gives customer the guarantee that if he wishes to return the car to HBL at the end of the lease term, he will not have to pay off the cars residual value. Instead, HBL will directly settle this outstanding liability for customer under the buy back guarantee. Hence, he can upgrade to a new car as frequently as two years without any complication and hassle. Affordability With HBL CarToCar, customer only has to pay the difference between the car price and the pre-agreed residual value to the bank. As a result, the monthly installment may even be 40% to 50% less than that of conventional financing. Flexibility HBL CarToCar offers customers several choices at the end of the lease term: Upgrade - Simply return the car to HBL and drive a new one home Walk away - Return the car to HBL and end the lease Buy - Keep the same car. Just make a one-time settlement of the cars residual value to HBL or pay the same in easy installments over a specified extended period of time Sell - Enjoy the gain from selling off the car at a higher price in the market than what you ay HBL as the residual value
Eligibility Criteria
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Documentation
Salaried Individuals Complete Application Form Salary Certificate / Most recent Salary Slip Bank Statement for past one year Two Copies of NIC Employment Certificate with date of joining Two passport size photographs Copy of the last paid utility bill (residence)
Self-Employed Business persons/Professionals Complete Application Form Two Copies of NIC Two passport size photographs Letter of proprietorship / Registered Partnership Deed Certified latest Form A and Form 29, where applicable, along with articles and Memorandum of Association Copy of last paid utility bill (residence) Bank Statement for the last 1 year
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HBL Credit Card

By the help of HBL credit card customer enters into the world of convenience and flexibility. Accepted at over 29 million merchants worldwide, HBL Credit Card makes shopping fun and paying simple. So that a customer can make the most of his shopping experience.
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Benefits
Buy now, pay later Buy what customer want, when he want and pay for it later. A credit card statement will be sent to him every month with details of all his purchases. He will have 21 credit free days to make the payment from the statement date. Customer should pay at least 3 days in advance if he makes your payment by cheques to allow enough time for clearance. Pay as much as customer wants A customer can pay the entire or as little as 5% of the outstanding balance in his statement. The unpaid amount will be transferred to his next months statement along with applicable services charges. Cash advance Customer can go to any specified HBL branch and withdraw cash at the counter. He can also go to any 1Link ATM in Pakistan and more than 1,000,000 ATMs worldwide displaying the Visa/Plus logo. Withdraw cash up to the available cash advance limit on his HBL Credit Card for a charge applicable from the withdrawal date. Balance transfer facility 55
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Card holder can pay off balances he owes to other banks through his HBL Credit Card at a lower service charge. Security Card holder cannot lose cash if he doesnt carry it! In the event that his card gets stolen/lost, he should call HBL PhoneBanking to have his card blocked immediately.
HBL debit card

HBL Visa Debit Card allows a card holder to pay for his purchases directly from his bank account. He doesnt have to carry cash and his monthly statement provides him with a complete record of all his transactions so he can manage his expenses with ease.
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Features
No Interest HBL Visa Debit Card is the perfect way of paying for purchases as it gives access to the exact amount of money a customer needed, as and when he needs it. There is no interest or credit on payments because he spends from the money available in his personal HBL Account. Ease & Security HBL Visa Debit Card offers ease and convenience because card holder doesnt have to visit an ATM to withdraw cash. Paying with the HBL Debit card is safe because it eliminates the need to carry cash. A single swipe automatically debits the exact purchase amount from his personal HBL account. Spending Limits The daily spending limit at shops and outlets on HBL Visa Debit Card is Rs. 100,000. (These figures are subject to the balance available in account).
Free Account Statement HBL cardholders receive a free monthly account statement for their Debit Card and ATM transactions to help them keep track of their spending. International Recognition & Acceptability HBL Visa Debit Card is accepted at over 20 million Visa merchants worldwide, including over 10,000 merchants in Pakistan. As an ATM card it is accepted at more 57
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than 1,000 1-Link & M-Net ATMs in Pakistan and 864,000 Visa ATMs worldwide. No matter where card holder is, with the HBL Visa Debit Card, HBL is always with him. No Liability In case of a lost or stolen card, card holders are protected against fraudulent transactions made on their card after they report the incident.
hbl personal Loans

With the rising cost of living, it is becoming increasingly difficult to make expensive purchases or meet unexpected expenses. HBL is helping customer finance them with Habib Bank personal Loans (old name flexi loan). Customer may avail a personal loan of up to SIX TIMES of his net take-home salary subject to a maximum of Rs.300,000/- provided he work for an organization approved by HBL. 58
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Features
Flexible tenure: 12, 24, 36,48 or 60 months No processing fee Repayment through easy and affordable monthly installments from salary. Credit Life & Disability Insurance Repayment through easy and affordable monthly installments You determine the need, we help you finance Option of add up replacement for existing customer. Minimum salary Rs. 12000 No salary limit for existing customers. 23% or 21% rate for existing users instead of 25%
hbl phone banking

Now the bank is just call away. Customer can now call HBL PhoneBanking and save a trip to the branch. His query will be resolved in a single telephone call from anywhere and at anytime.
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T-PIN Generation
Customers TPIN (Telephone Personal Identification Number) is generated the first time he calls and he can use it as your password for verification purposes, selfservice banking through IVR and additional services through HBLs PhoneBanking Officers. Customer can change his TPIN anytime he like.
HBL PhoneBanking services for Deposit Account customers

Customers can use the Interactive Voice Response (IVR) system or talk to HBL PhoneBanking Officers to: Get his account balance Get information about the last 5-10 transactions carried out on his account Request bank statement, either through fax or email (as supplied in his subscription form) Get details of transactions from the last 6 months on each of the accounts listed on his subscription form Change and/or modify his contact details Transfer funds between his own accounts (as listed in the subscription form) or from his account to a third party account (as listed in the Third Party Authorization Form) Transfer funds from his own account to an account in another bank under the 1-Link network (Inter Bank Funds Transfer) Generate his own choice of ATM Pin without filling a request at your branch Inquire about HBLs product offerings Lodge a complaint in case of any inconvenience Inquire about the daily accounts related profit rates and currency exchange rates Request a number of physical instruments and/or branch banking related services that he might require, including: Pay Order Demand Draft Statement 60
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Balance Certificate Cheque Book
HBL PhoneBanking services for HBL CarToCar and Car Loan customers
HBL CarToCar and HBL CarLoan customers can enjoy the following services through HBL PhoneBanking: Balance Inquiry Last 5-10 Transactions Statement Generation (Email and Fax) Account Maintenance Assistance in case of Car Theft/Damage
Hbl bancassurance
HBL and New Jubilee Life Insurance Company Limited (NJLI) introduce Amaan (Retirement Plan) and Tabeer (Child Education & Marriage). These products have
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been designed keeping HBLs customer base as the focus and will provide life insurance along with an investment option.
Amaan (Retirement plan)

Amaan is a pension plan that provides an opportunity for growth through investment in a balanced portfolio with post-retirement income benefits. The plan covers life insurance and gives attractive returns on investment to its customers.
Tabeer (Child Education and marriage plan)

Tabeer is a plan that provides parents with a means to accumulate a fund over a period of time which can then be used to pay for a childs education or marriage. Plans are available for both under and over 45 years of age.
Lockers
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Lockers are available in many of the HBL branches in different sizes like small, medium and large; some branches also have extra large and cubical lockers. Except rural areas because of security reasons.
Eligibility for using lockers

Only the account holders can avail the facility of lockers. The annual rent will be directly debited from their respected accounts at the start of the year.
Charges
Annual rent Rs. 2750 3850 6050
Size SMALL MEDIUM LARGE
Key deposit (refundable) 2500 3000 4000
Key deposit is refundable at the time handing over the locker to bank. For the staff of HBL key deposit is not required and also the annual rent is very low for them.
HBL corporate banking

HBL Corporate Banking Group comprises a seasoned team of Relationship Managers (RMs) to meet the demanding service standards of large corporations. A 63
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long history of financing and nurturing relationships in Pakistan has given HBL a unique insight, enabling it to provide timely and effective financial solutions for their customers to meet the growing challenges of a global economy. For a corporate customer, with a turnover of at least PKR 300 million, HBL has a range of solutions designed to help him with his banking needs. Their RMs have the expertise customer need to create tailored financial solutions catering to the specific requirements of his business. Whether establishing a new venture or expanding an existing business, HBLs team understands customers banking needs and works closely with him to realize his goals.
Services
HBL provides the following services to meet customers funding requirements: Working Capital Finance, including Overdraft, FE Loans, etc. Pre and Post Shipment Export Financing (PKR and USD based) Import Financing (PKR and USD based) LMM Funding Receivable Discounting Islamic Banking facilities Cash Management Services Trade Services including Letter of Credit, Letter of Guarantee and Standby Letter of Credit, etc.
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HBL CORPORATE CENTERS
1.Corporate Centre, Karachi 6.Export Processing Zone, Karachi
2.PIA Branch, Karachi
7.Steel Mills, Karachi
3.Stock Exchange, Karachi
8.Stock Exchange, Lahore
4.Corporate Centre, Islamabad
9.Morga Branch, Rawalpindi
5.Corporate Centre, Faisalabad
10.Corporate Centre, Multan
11. Karachi Port Trust, Karachi
HBL Commercial banking

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HBLs Commercial Banking Group targets medium sized companies with a turnover of at least PKR 50 million. Its business units are located in Karachi, Lahore, Faisalabad, Sialkot, Gujranwala and Peshawar. Each unit is dedicated to service business clusters located within these cities. They have the ability and the resources to meet the needs of customers business with their pro-active, responsive and experienced Relationship Managers who are committed to understanding customers business. Services HBL offers financing for the following: Working Capital Procurement of Inventory Receivables Procurement of Machinery Expansion of production facilities Import of raw materials Exports Guarantees
HBL COMMERCIAL BANKING CENTERS

1.Al-Noor, Karachi 2.Korangi Industrial Area, Karachi 3.Saddar, Karachi 4.Tariq Road, Karachi 5.Badami Bagh, Lahore 6.Kashmir Road, Sialkot 7. Small Ind. Estate, Sialkot. 8.Peoples Colony, Faisalabad 9.Foreign Exchange, Karachi 10.Napier Road, Karachi 11.S.I.T.E. Karachi 12.Panorama Centre, Lahore 13Peco Road, Lahore 14.Paris Road, Sialkot 15.Circular Road, Faisalabad 16.Trust Plaza, Gujranwala
17.Super Market, Peshawar
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HBL zarai banking

HBL ZaraiBanking facilities are spread across the country and provide financing through more than 800 of their branches. HBLs presence in all agriculture belts of the country ensures easy access to farmers in rural areas. HBL ZaraiBanking provides loans to small-scale land owning farmers as well as large institutionalized and alliance based finance, enhancing agricultural harvest and, in turn, economic output of the country.
Products
HBL ZaraiBanking enables farmers to invest in premier quality seeds, fertilizers, pesticides, agricultural implements and non-farm setups through its various product programs.
Crop Inputs Crop specific finance for purchase of Agriculture inputs such as seed, fertilizer, pesticide and other related inputs. Farm Implements Finance available for purchase of farm implements & machinery like combined harvester, sprayers, ploughs, tube wells and other crop-related tools/implements. Tractors/Agricultural Vehicles Finance available to individual farmers, self-employed tractor operators, providing the option to select vehicles from a range of different manufacturers. Livestock Finance available for feed, medicines, raw material, raising charges and other related activities.
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Poultry Finance available for all poultry related activities including poultry farm construction/equipment, hatchery plant & machinery, poultry feed, poultry medicines, composite feed production, poultry processing and other related activities. Fish Farming Finance available for inland fish farms as well as deep-sea fishing. This includes procurement of boat, fish locating equipment, nets & ropes, ice maker, fish farm water solution, hatchery construction/equipment, purchase of medicines / feed and other related activities. Group Lending Joint finance facility for a group of farmers with small land holdings for working capital requirement. NOTE: These finances may be availed under Demand Finance or Running Finance categories. Demand Finance is usually available for short term financing needs while Running Finance is available on the basis of revolving limit.
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Islamic banking
Islamic Banking is a growing market segment that offers attractive opportunities to potential and existing customers. At HBL, Islamic Banking offers Shariah compliant products and services to meet the short and long term requirements of business, trade and industry.
Shariah Compliance
HBLs Islamic Banking products are in strict compliance with the tenets of Shariah and bear Shariah Compliance Certification from an independent Shariah Advisor. Their Shariah Advisor has in depth experience in Shariah rulings (Fatawa) and teachings at different forums with qualifications of Dars-e-Nizami, M.A and L.L.B. HBL also have a Shariah Scholar, as member of their Shariah Supervisory Committee to ensure a sound Shariah Compliance mechanism, giving prompt responses to customers needs and access to Shariah knowledge.
Products and Services

Corporate and Commercial customers can choose from Shariah compliant banking solutions to meet their business needs. Ijarah (Leasing) Medium to long term facility for vehicles, plant and machinery leased out to the client on rental basis. Diminishing Musharaka Medium to long term facility for vehicles, plant and machinery on joint ownership basis. Murabaha Local and Import facilities for purchase of raw materials, semi finished and finished goods, stores or spares. Trade Services Letter of Credit Facility, Collection of Foreign Bills, Collection of Local Bills, Letter of Guarantees.
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Customers are welcome to visit their Islamic Banking branch for the following services: Current Account (PKR, USD, EURO, POUND STERLING) Basic Banking Account ATM/Debit Card Facility Foreign / Inland Remittances Utility Bills Collection E-banking / Internet Banking Services 24/7 Phone Banking Services Personalized customer friendly services Saving Deposits will be introduced soon
Branch
Address Finlay House Ground Floor I.I Chundrigar Road Karachi Contact details: 021-32429304, 32429431&32 Fax 021-32429307 E-mail hbl.5000@hbl.com
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Learning as an intern
As every body knows that "Knowledge without practice is sterile "In order to give vent to this idea an Internship program of six to eight weeks. In this regard on 15th of June 2009, I was asked by Mr. Anwar Khan Niazi (Branch Manager) to go to Habib Bank Wan Bhachran Branch to start an internship of seven weeks there. During this period I got a chance to work and learn in following departments of the bank: Foreign exchange department Bills clearing department Credit department I.T department Cash department
Duties and learning in Foreign exchange department

First of all I started my training in foreign exchange department of the bank under the supervision of Mr. Ikram Ullah Khan (Operation Manager) Mr. Muhammad Rizwan Ashraf (Manager Teller and Service). I came to know about the different functions of foreign exchange department and how to perform these functions during my work in the department. My duties in the department were related to the followings: Letter of credit (L.C) both opening and negotiation. Letter of guarantee Issuing check books for foreign currency accounts Remittances applications. Learning Opening of letter of credit. Bank starts working on opening process after an application is received from the buyer (importer). I came to know about the process of opening of L.C, documents that bank demands from applicant, form used for that purpose, getting A.T (Availance Ticket) from regional head office and scanning and mailing the documents to head office Karachi for the purpose of getting approval,
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and payment on maturity date. Opening and negotiation both are centralized process in Habib bank therefore approval from head office is required. Negotiation of L.C. Bank starts negotiation of letter of credit (which would be already opened by importers bank) after the application from seller (exporter). Before sending the documents for payment to importer bank negotiator bank must ensure that the entire document mentioned in Claus 46A of the L.C are attached and complete. During the week I also worked on Remittances application. An applicant who wants to transfer funds abroad must have a foreign currency account in the bank. Because State Bank of Pakistan only allow account to account transfer of funds abroad through banks. And I came to know about the process and information required to fill the form. I also came know about the process of issuing foreign currency accounts cheque book to customers. During the week I learn many things about the mechanism of foreign trade.
Duties and learning in bill clearing department

The second department in which I got a chance to work was bill clearing department. During the work in clearing department I came to know about the different functions of clearing department and how to perform them. I came to know the process of receiving cheques by Dak, how to check cheques for any error like, the cheques should be of the bank which is the clearing member of area which comes under Wan Bhachran Branch for example if the cheque is of bank Al-Fallah Lahore then it should go to zonal branch of Lahore region instead of zonal branch of Sargodha. Then checking whether the amount of cheque and OBC (outward bank collections) voucher attached to it is same or not. If no error is found then making register entries by noting down their OBC number branch code and amount of the voucher. Then: Calculating the total amount of vouchers by summing individual amounts. Calculating the total amount of cheques by summing individual amounts. Preparing an add list to be attached with clearing instruments (cheques). Writing vouchers for demand drafts. And I also came to know about the different types of stamps and their use in particular situation like DAK RECEIVED stamp and CLEARING stamp. 72
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After attaching add list, clearing instruments are handed over to NIFT for further processing. These clearing instruments are delivered to their respective banks for clearance by NIFT. I also learnt in case of Bankers Cheques how to verify signature from the book in which all the signatures of authorized persons of HBL are given with their specific code. And I also worked on OBC (Outward bank collection) forwarding schedule. I came to know the process of sending cheques or other clearing instruments for clearance to zonal branch of another region. Filling vouchers Assigning OBC numbers Making entries in OBC register
Duties and learning in credit department

After bill clearing department I started my work and learning in credit department of the branch. Mr. Haroon Butt (Credit Manager) told me about the terms and conditions of the commercial loan, types of commercial loan like industrial loan and loan for merchants, how to make proposal for commercial loan, document required to make a proposal, markup of commercial loan (18.5 % annually). He also gave me chance to view some old proposals and the proposal on which he was working. Mr. Muhammad Rizwan Ashraf (Manager Teller and Service) who is dealing consumer financing. He told me about different types of consumer financing. Flexi loan (personal loan) Auto finance Lifestyle loan In Sargodha region at this point of time from HBL only personal loan is active while auto finance is about to start again in near future and lifestyle loan is inactive. I came to know about the terms and conditions of personal loan. Only the government servant who has his salary account at least six month old in HBL can apply. Different markup for different categories like 21%, 23% and 25%. 21% for existing users upto 3 year duration 23% for existing users for 4 or 5 years duration. 25% for new customers 73
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I also did work on documentation process for personal loan. I came to know about the different types of document required to complete a case for sending it to regional head office for approval. Document like branch check list, application form, Copy of CNIC of customer and two references, CNIC verification report from NADRA, customers account statement, finance agreement form etc. I also came to know about different types of securities which a bank demands from customer while issuing loan. e.g. Guarantees, Mortgage, Hypothecation and Pledge.
Duties and learning in Accounts, ATM and Lockers department

Then I learned about ATM (automatic teller machine). I came to know about the functions and working process of ATM machine. Loading cash and balancing at the time of loading again. Next my main concern was to know about all the aspects of ATM card. I came know about the types, process of issuing ATM card to customers, filling forms, how to activate ATM card, charges of issuing and using ATM card. Then I spent my time in lockers department. I took all the information about the terms and conditions of allotting and operating a locker, types of locker like small, medium and large, charges of using lockers, key deposit (refundable), filling application forms, insurance amount for specific size of locker and etc. I also came to know about the process of operating locker by the customer, how to open the locker with the help of two keys. 1 key in the hand of bank officer (anticlockwise) 2nd key in the hand of customer (clockwise) Customer is allowed to operate the locker in full privacy. Only the customer himself or other person authorized by him can operate the locker. After that bank officer has to take the signature of the customers on attendance register maintained for this purpose.
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Then my duty was in Accounts department. I came to know the procedure for filling the form to open an account, different types of stamps required and about signature of the staff. Documents required to be attached with the form. Copy of CNIC Utility bill Provisional receipt KYC (Know Your Customer) And how to post an account on system after filling the form. Then I came to know about Saving accounts and different types of accounts in saving category and terms and conditions of each type. 1. HBL Value Account 2. PLS-Savings Account 3. Remittance Munafa Plus Savings Account 4. Daily Munafa Account 5. Daily Progressive Account
Then current accounts 6. HBL Business Value Account 7. Current Account 8. Basic Banking Account (BBA) Term accounts 9. HBL Advantage Account 10. Investment plus Deposit FC accounts 11. FC-SB Savings Account offered in 3 currencies, USD (US dollar), EUR (Euros) and GBP (UK pound) 12. HYFFD (High Yield Foreign Currency Fixed Deposit) 75
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Available in 1 month, 2 month, 3 month, 6 month and 12 Month in USD, EUR and GBP Assignments (1)During my work in accounts department Mr. Ikram Ullah Khan (manager operation) assigned me the duty of checking the files of previously opened accounts for any type of discrepancies like utility bill or service certificate of the account holder is attached or not and checking stamps and signature of the staff etc. It was because an audit of these files in the coming month is scheduled. Almost above 50% of the application forms were having discrepancies of different types. This turns out to be very informative experience for me. Deposits are considered as lifeblood for any bank to survive. I came to know about the procedure and different types of deposits that customers can maintain in HBL, return rates that a customer can get and other terms and conditions of each type of account. As far as checking the old files are concern it seems boring but from my point of view it was very informative. The learning I got while doing this job would never be easy to get otherwise. (2) Mr. Rizwan Ashraf Khan assigned us another task. State bank of Pakistan has instructed all the banks in Pakistan to make sure availability of computerized national identity cards of all the account holders. We were given a list of accounts from which CNIC was required and preprinted letters. Our task was to take the information from accounts like Name, Address and Account type by entering the account number in the system and then printing that information on one corner of the letters. This also turns out to be a very informative experience for me. I learn and get a chance to work on computer software that the HBL is using, how to view account information, checking balances and updating the information. (3) Due to my familiarity with their computer software I was given another task of updating account information on their computer system Simex. Like account holders name, address, CNIC number etc. In case of any problem I was consulting it with Mr. Muhammad Rizwan Ashraf. This task gave me more chances to learn about the computer system of HBL and also I can proudly say that I have my own share of working in computerizing HBLs record.
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How this experience will impact my career

Working for 07 weeks in HBL Wan Bhachran Branch as an intern was very informative experience for me. During the time I learnt many new things which are surely going to help me in my professional career. It was a good experience for me to observe and to be the part of practical working of an organization like HBL. During the internship I got a chance to understand general consumers behavior and his needs and wants related to banking services and products.
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Financial performance and achievements of HBL
Financial performance
Financial Statements Ratio analysis The financial results for the first quarter of 2009 Financial highlights 2010
Achievements
HBL - 'The Best Emerging Market Bank in Pakistan' 2010 HBL - 'Most innovative Global Trade Finance' award 2008 - 'Best bank In Pakistan' Award 2010 HBL Milestones - 'Buzziest Brands' Awards
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Habib Bank Limited Balance sheet

As on 31 December 2009 & 2010
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Habib Bank Limited Profit & loss Account

As on 31 December 2009 & 2010 80
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Ratio Analysis of the HBL:

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An index that relates two accounting numbers and is obtained by dividing one number by other Ratio Analysis is an important and age-old technique of financial analysis. It simplifies the comprehension of financial statements. Ratios tell the whole story of changes in the financial condition of business. It provides data fro inter firm comparison. Ratios highlight the factors associated with successful and unsuccessful firm. They also reveal strong firms and weak firms, over- valued and under valued firms. It helps in Planning and forecasting. Ratios can assist management, in its basic functions of forecasting, planning, co-ordination, control and communication. Ratio analysis also makes possible comparison of the performance of different divisions of the firm. The ratios are helpful in decision about their efficiency of otherwise in the past and likely performance in future. Ratios also help in Investment decisions in the investors and lending decisions in the case of bankers etc. Following are the main types of ratios that I am going to calculate in this report to compare and highlight the financial performance of Habib bank in 2010 with 2009.
Return on Equity Ratio Return on Assets Loan to Assets ratio Net Profit Ratio Loan to Deposit
Return on Equity Ratio

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Return on Equity Ratio

Net Profit after tax X 100 Owner Equity Net Profit after tax Owner Equity Return on equity
2010
2009
17,034,380 86,842,059 19.61
13,400,749 75,133,715 17.84
Interpretation: The past two years data shows an improvement in the return on equity which is a positive sign. The Bank should have to continue its policies. By observing the audited account I found that this improvement is due to increase in the Net profit which is good sign.
Return on Assets Ratio

2010 2009
Return on Assets
Net Profit after tax X 100 Total Assets Net Profit after tax Total Assets Return on Assets
17,034,380 924,699,403 1.84
13,400,749 863,924,793 1.55
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2010 2009
Loan to Assets ratio

Loans Assets Advances Assets 459,750,012 924,699,403 49.72 454,662,499 863,924,793 52.63
Interpretation: Return on assets ratio shows an improving trend. This ratio shows that the both the Net profit and Total Assets has improved in 2010 than 2009. But net profit has increased more rapidly.

Interpretation: Loan to Asset Ratio is showing decreasing trend in 2010. This is because advances are increasing more rapidly than assets of the bank.
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Interpretation: Net profit Ratio is giving upward trend. This trend is observed due to increase in Net profit but on the other hand the expenses decreases which shows an efficient management. 2010 2009
Loan to Deposit
Loans/Deposits*100 Advances Deposits 459,750,012 747,374,799 454,662,499 682,750,079
Loan to deposit ratio
61.52
66.59
Net Profit Ratio

Net profit / Interest Income X 100 Net profit Interest Income Net profit ratio
2010
2009
17,034,380 46,994,773 36.25
13,400,749 42,670,534 31.41
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Loan to Deposit Ratio

Interpretation: Loans to deposit ratio show an increasing trend in 2010 as compare to 2009. This trend is observed as the advances and deposits both are increasing but advances are increasing more rapidly than deposits.
The financial results for the first quarter of 2009 are

(Rs. In 000) Profit after tax Share of profit attributable to minority interest Profit attributable to shareholders Earnings per share rupees (Basic & Diluted) 3,384,623 45,063 3,339,560 4.40
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2010
Financial highlights
In the following diagram HBLs balance sheets and income statements items for 2010 are compared with the items of 2009 and percentage growth is also calculated.
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(US $ in Million)
Balance Sheet
1.Total Deposit 2. Total Assets 3. Advances 4. Cash and Cash Equivalent 5. Shares Holders Equity 6. Bills Payable
2010 8,727,272 10,797,934 5,368,610 1,390,215 1,014,077 (3,111)
2009 7,972,634 10,088,255 5,309,202 1,403,680 877,354 2493
Profit and Loss

7. Total net Income 8. Total Expenditure 9. Provision for Non Performing Loan 10. Pre Tax Profit 11. Profit After Tax 12. Earning Per Share 198,914 410,306 88,775 315,753 198,914 0.196 156,485 365,960 102,696 249,679 156,485 0.156
Others
13. Export 14. Import Machinery 15. Numbers of Branches 16. Number of Branches Outside Pakistan 20,515,415 4,212,939 1459 42 22,267,455 1,575,542 1454 40
Achievements
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HBL - 'The Best Emerging Market Bank in Pakistan'
HBL has been selected as The Best Emerging Market Bank in Pakistan by Global Finance Magazine. Global Finance magazine has named the Best Emerging Market Banks in Asia in an exclusive survey to be published in the May 2007 issue. Global Finance editors with input from industry analysts, corporate executives and banking consultants selected the best emerging market bank in the region and in 20 countries. Global Finance reports on the international finance sector, covering topics such as corporate finance, joint ventures and M&A, country profiles, capital markets, investor relations, currencies, banking, risk management, custody, direct investment, and money management. The magazine also holds several awards ceremonies throughout the year to recognize the winning financial institutions and companies.
2008 HBL - 'Most innovative Global Trade Finance' award

HBL received the 'Most Innovative GTFP (Global Trade Finance Program)' award. The award was received at the International Finance Corporation Annual Trade Conference in Paris where 126 issuing and 145 confirming multinational banks that were present. This recognition has raised our profile among a large forum of international banks and paved way for IFC to increase our facility from USD 75 million to USD 100 million which has helped us in creating liquidity in our international network
2008 - 'Best bank In Pakistan' Award

In October 2008, HBL received the Best Bank in Pakistan award in recognition for its continuous efforts in providing world class products and services to customers. 89
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Award was received by Mr. Sultan Ali Allana - Chairman. The ceremony in Washington was also attended by Mr. Zakir Mehmood - President & CEO, Mr. Nauman Dar - Head International Banking and Mr. Tariq Mateen - Head Financial Institutions Division.
Mr. Sultan Ali Allana (right) receiving the award
2008 HBL Milestones - 'Buzziest Brands' Awards

Revelation Inc, a Pakistan based brand Development Company, carried out a poll among marketing and advertising representatives, as well as a panel of judges to pick the most active brand in Pakistan. HBL was received the Buzziest Brand award in the Banking and Financial Institutions Category. HBL was competing with strong consumer brands like Olpers and Coca Cola yet accomplished third position
among top five brands in the entire advertising industry. The award was received by Mr. Ali Mustansir - Head Marketing and Brand Management. The first two places were awarded to telco brands, Telenor and Mobilink. 90
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Recommendations
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As we seen from the previous analysis of the financial statements I have realized that that Habib Bank is performing very well since its inception. It is quite difficult to give suggestion to improve the banking conditions Habib Bank Limited. As we know that nothing is perfect, there is always a room for improvement, so I will recommend following suggestions for HBL: Employees Training programmes must be introduced on continuous basis so that Employees have understanding with the latest developments especially with the customers. Bank should introduced incentive plans for employees on regular basis so that if employees may work whole heartedly for the welfare of their organization. While giving incentives qualification, work, experience, hard work and such other factors must be considered. Mismanagement of resources must be avoided as much as possible as it decreases profit but also discourage hard worker and honest employees. Fresh graduates must be recruited. As the combination of Experienced and fresh can produce better results and it will improve the efficiency of management. Habib Bank is going towards mobile banking but the problem is that a common client has no idea of its usage due to lack of marketing. I think that a proper marketing programme must be launched for clients awareness.
Banks different schemes must be conveyed to the targeted customers so that to have a reasonable share in market. Bank should help the society by providing interest free loans to the Talented Students. 92
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Online Banking should be introduced in all the branches . To motivate the employees their remuneration / salaries should be made at par with top tier Banks. Aggressive publicity campaign must be introduced through press and Electronic media for new products and scheme by initiating vigorous marketing policy. Bank should adopt such an induction plan that when a customer opens his account with the bank he should be supplied with a booklet which enables him to know the procedure of filing the cheques, pay-in-slip etc. It will save a lot of time of the bank staff afterward during the conduct of the account of that customer. The attitude of the bankers with all of their customers is not the same; they pay more attention and good service to some of the customers and neglect a major portion of them. Some of the customers approach to the bank officials and get their work done before others; it is not a good practice. All the customers should be treated equally. HBL should increase its communication with customers about the terms and conditions of its different products and services.
Glossary
HCC: D.D: Hailey College of Commerce Demand Draft 93
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A/C: O.B: O.B.C P.L.S: Dr: Cr: C.A: F.L: L.G: D.F: L.C: R.F: F.A.P.C: HBL ABL MCB NBP UBL NIFT account Other Bank Outward Bills Collection Profit and Loss Account debit Credit Current Account Flexi loan Letter of Guarantee Demand Finance Letter of Credit Running Finance Finance against Packing Credit Habib Bank Limited Allied Bank Limited Muslim Commercial Bank National Bank Limited United Bank Limited National Institutional Facilitation
Technologies (pvt) LTD.
Bibliography
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Material on these books, articles and websites has helped me a lot in preparation this report
Books
HBL Corporate Profile 2010 HBL Annual Reports 2010 and 2009 first Quarter
Articles & Documents

BANKING SECTOR REFORMS IN PAKISTAN: http://www.ishrathusain.iba.edu.pk/speaches/BANKING_SECTOR_REFORMS.pdf www.encyclopedia.com/doc/1G1-61864366.html
Websites
www.hbl.com www.habibbankltd.com www.hblasset.com www.investopedia.com/articles/07/banking.asp wiki.answers.com/Q/Evolution_of_banking
Index
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Annex A: INTERNTSHIP CERTIFICATE Annex B: INDICATIVE RATES Annex C: ACCOUNT OPENING FORM Annex D: REMITTANCES APPLICATION Annex E: DEBIT CARD APPLICATION FORM Annex F: DEPOSIT SLIP
96

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Internship Report

COMMERCIAL BANKING IN PAKISTAN

History of Banking In Pakistan

a) Pre Nationalization period

BANK POSITION IN 1973

BANK POSITION IN 1992

POST NATIONALIZATION ERA

The- privatized banks are;

Structure of Financial Sector in Pakistan

Foreign Banks (22)

Domestic Banks (25)

About Habib Bank Limited

HISTORY AND BACKGROUNG

Privatization of Habib bank

HBLs Vision, Mission and Values

Sultan Ali Allana

PRESIDENT & C.E.O

MEMBER EXECUTIVE BOARD

A. banking departments of habib

Accounts opening department

BOOKS RELATING TO CUSTOMERS: Pay-in-Slip 30

Cash deposit procedure

Cash payments procedure

Online fund transfer

Balancing cash at the end and transferring excess cash

Bills clearing department

Products and Services of Habib Bank Limited

Basic Banking Account (BBA)

HBL Value Account

Daily Munafa Account

Daily Progressive Account

HBL Advantage Account

Tenure 3 MONTHS 6MONTHS 1 YEARS 3 YEARS 5 YEARS 10 YEARS

Profit at maturity 7.50%* 8.00%* 11.00%* 13.00&* 14.00%* 17.00%*

Foreign Currency Accounts

HBL car loan

HBL car to car

HBL Credit Card

HBL debit card

hbl personal Loans

hbl phone banking

HBL PhoneBanking services for Deposit Account customers

Amaan (Retirement plan)

Tabeer (Child Education and marriage plan)

Eligibility for using lockers

Size SMALL MEDIUM LARGE

Key deposit (refundable) 2500 3000 4000

HBL corporate banking

2.PIA Branch, Karachi

7.Steel Mills, Karachi

3.Stock Exchange, Karachi

8.Stock Exchange, Lahore

4.Corporate Centre, Islamabad

9.Morga Branch, Rawalpindi

5.Corporate Centre, Faisalabad

10.Corporate Centre, Multan

11. Karachi Port Trust, Karachi

HBL Commercial banking

HBL COMMERCIAL BANKING CENTERS

17.Super Market, Peshawar

HBL zarai banking

Products and Services

Duties and learning in Foreign exchange department