PREFACE

The completion of any empirical study aimed at drawing some conclusion out of it, always confronts certain difficulties. This study is no exception. In many cases while searching required data we had to waste a lot of time but in certain cases we got the required data very easily.

IQRA ASIF

ACKNOWLEDGEMENT

All praises to almighty Allah and our holy prophet Muhammad PBUH who gave me the courage and patience for completion of this final report. I am also thankful to my parents, family and friends that continually offered encouraging support . I like to thank all bank staff Mr. Irfan siddique(operation manager), Mr. Ali Raza Elahi especially who helped me remarkably for this project.

IQRA ASIF

Dedication

I dedicate this effort and work to Almighty ALLAH, the holy prophet Muhammad (P.B.U.H), the great educationist of mankind my parents who always been there with us through thick and thin, praying for us all the time and believing in me.

Letter of Transmittal

Head of Human Resource Department, MCB, Head Office, Lahore.

Dear Madam, It is to present you the internship report which is executed at MCB Bank Limited Misri Shah branch requirement for internship program. This report has been prepared in accordance with the format issued by the MCB. It is the result of my first professional experience. The report is a practical application of whatever I studied as a business graduate of National University of EDUCATION. In this report, I have covered the introduction of MCB, detail of my working and learning in general banking of MCB. I had assisted the manager operation for assignments, but for learning assist incharge of each department. I have put all the efforts to summarize my knowledge and experience in this report, to make it comprehensive and to meet readers expectations.

Sincerely, IQRA ASIF

Executive Summary:

he best thing about the future is, it comes one day at a time Ab raham Lincoln
The banking structure in Pakistan comprises of the following types, State Bank of Pakistan, Commercial Bank of Pakistan; Exchange Banks, Saving banks, Cooperative banks, Specialized credit institutions. The state bank of Pakistan is the Central bank of the country and was established on July 01, 1948. The network of bank branches now covers a very large segment of national economy. The State Bank of Pakistan issues the shares of these periodically. Bank employees and other common peoples can also purchase these shares and earn profit. In 1956, MCB transferred its registered office to Karachi, where the Head Office is presently located. In April 1991, MCB became Pakistans first privatized bank. I did my six weeks internship at MCB Misri Shah Lahore, and worked in account opening department, operations department, accounts department, Remittances, Customer Service department. To open an account the customer has to meet the general banking manager with an introducer. The procedure begins with the punching of account opening form to the customer file i.e. customers master file. Before closing any account, bank send letter to the account holder for informing him that his account is going to be closed. There is need an approval from higher authority to close any account. Current deposits are those which are payable to bank whenever demanded by the customer. Bank does not pay any profit on current deposits. The following are the financial products/services of MCB Malay Mail Scheme, PLS Account, Saving 365 Account, Capital growth certificate scheme, Fund Management Scheme, Khushali Bachat Account, Term/ Fixed Deposits and others like night bank Demand Finance, Cash Finance, Foreign bills purchased, Finance against imported goods, Finance against foreign bills, Export Refinance Part I (Pre Shipment) & others. Banks Agriculture division deals with the agriculture advances. Bank provides the Agriculture Advances in order to enhance and support the agriculture sector of the country. Farm Credit & Non Farm Credit.

In foreign exchange, MCB is dealing Foreign Currency Accounts, Foreign Remittances, and Foreign Bills for Collection, Imports & Exports Foreign currency accounts & the foreign currency department deals with the following types of accounts, Dollar Khushali account, Current account, Saving bank account, Term deposit, Prime Currency Scheme. Foreign accounts are convertible on floating rate available to the bank. Letter Of Credit facility is being provided by MCB in foreign exchange. .

TABLE OF CONTENTS
PREFACE...................................................................................................................i ACKNOWLEDGEMENT..............................................................................................ii TABLE OF CONTENTS..............................................................................................vi