Professional Documents
Culture Documents
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Organizational Profile:
Bank Alfalah Limited (BAL) is a private bank in Pakistan owned by the Abu
Dhabi Group. Bank Alfalah was incorporated on June 21, 1997 as a public limited
company under the Companies Ordinance 1984. Bank Alfalah is registered at both
Karachi and Lahore Stock Exchange with a ticker name of BAFL. Its banking
operations commenced from November 1, 1997. The bank is engaged in commercial
banking and related services as defined in the Banking companies ordinance, 1962,
with the registered office at B.A.Building, I.I.Chundrigar Road, Karachi.
Since its inception, as the new identity of H.C.E.B (Habib Credit and Exchange
Bank Limited) after the privatization in 1997, the management of the bank started
implementing strategies and policies to carve a distinct position for the bank in the
market place.
This was further strengthened with a partnership with the Abu Dhabi Group which
owns 70% of Bank Alfalah shares. This allowed the bank to invest more in
revolutionary technology to increase its range of products and services, perceiving
the requirements of their customers and matching them with quality products and
service solutions.
The Bank provides financial solutions to consumers, corporations, institutions and
governments through a broad spectrum of products and services, including corporate
and investment banking, consumer banking and credit, commercial, SME, agrifinance, Islamic and asset financing.
The Bank looks ahead with optimism at the future it aims to continue investing in
its core strengths to provide best in class products and services to its diverse range
of clients.
Credit Rating:
PACRA, a premier rating agency of the country, has rated the bank AA (double A),
Entity Rating for long term and A1+ (A one plus) for the short term. These ratings
denote a very low expectation of credit risk, strong capacity for timely payment of
financial commitments in the long term and by highest capacity for timely
repayment in the short term, respectively. The ratings of first and second and third
Punjab University, Gujranwala Campus
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unsecured listed and subordinated TFC issues of PKR 650 million, PKR 1,250
million and Rs.1,325 million have been maintained at AA- (Double A minus).
Chairmans Message
Starting off with just a handful of branches in 1997, today Bank Alfalah operates
steadfastly with a vast footprint in order to provide creative, customized financial
solutions to over 1 million consumers, corporations, institutions and governments.
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Our top most priority is to meet the changing financial needs of our diverse range of
customers our service philosophy entails the fact that our success will follow if
our clients are served well. We remain committed to this goal and hence continually
seek to introduce customized financial solutions in Pakistan and beyond.I am
confident that Bank Alfalah will remain at the forefront of the evolving financial
services landscape in Pakistan in order to serve our clients even better. With the
support of all our stakeholders, we hope to promote a workplace environment where
we take responsibility for our actions and promote respect, inclusiveness and
uncompromised integrity most importantly, create a Company which can survive
through good times and bad.
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Mission
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To develop & deliver the most innovative products and deliver exceptional
service quality which contribute to strengthening brand equity strength and
maximize value for the stakeholders of the Bank.
Management Hierarchy
Management means the administration and the governing body that is concerning
the whole organization. All the decision and strategies are been proposed and
evaluated the management of the organization. At Bank Alfalah, the management is
pretty strong and there is lot centralization in the whole network of the bank. The
management at Bank Alfalah has been divided into 3 major parts. i-e, Board of
Directors, the Top management, and the group of middle managers, supervisors and
the employees.
Chairman:
H.H.Sheikh Hamdan Bin Mubarak Al Nahayan
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Board of Directors:
The upper most part of the management is the Board of Directors or the Executives.
The Board of Directors are responsible for the first phase of the management
process, i-e, planning. So, all the decisions and the strategies are being proposed
and implemented under the instructions and the supervision of the board of directors
or the executives. Also the policies and the overall objectives of the Bank are being
proposed at this level of the organization.
H.H. Sheikh Hamdan Bin Mubarak Al Nahayan Chairman
Mr.
Mr.
Mr.
Mr.
Mr.
Mr.
Management:
Mr. Atif Bajwa Chief Executive Officer
Mr. Bahauddin Khan Chief Operating Officer
Mr. Mirza Zafar Baig Chief Financial Officer
Mr. Suhail Yaqoob Khan Chief Risk Officer
Mr. Aly Mustansir Chief Marketing Officer
Mr. Rizwan Ata Group Head, Islamic Banking
Mr. Faisal Farooq Khan Group Head, HR & Learning
Mr. Khurram Hussain Group Head, Retail Central, North and Consumer
Banking
Ms. Mehreen Ahmed Group Head, Retail Banking South & New Initiatives
Mr. Saad Ur Rehman Khan Group Head, Corporate & Investment Banking
Mr. Bashir Ahmed Sheikh Group Head, Special Assets Management
Mr. Yasar Rashid Group Head, Audit & Inspection
Mr. Syed Ali Sultan Group Head, Treasury & Financial Institutions
Mr. A. Wahid Dada Group Head, Operations
Mr. Mian Ejaz Ahmed General Manager, Legal & Company Secretary
Mr. Anwer Umed Ali Chief Information Officer
Punjab University, Gujranwala Campus
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Organizational Structure
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Board of
Directors
Cheif
Executive
Officer
Executive
Incharge
Credit
Card
Credit
Audit
Marketing
Internal
Banking
Finance
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Branch
Manager
Incharge
Trade
Finance
Operation
Manager
Cash
Liability
Incharge
Departmen
Departmen
Banking
G.
t
t
CD
Incharge
Operation
Officers
Cashiers/
Tellers
BDOs
Trade
Officers
Manager
Credit
Realionship
Manager
Credit
Officers
CRO
Departments
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Operation Department:
Account Opening
Cheque Book/ ATM Cards/ Lockers
Clearing and Collection
Remmittance (Pay order and Demand Draft)
Funds Transfer
Cash Department:
Deposits (Online and Local)
Withdrawals (Online and Local)
Bills (Utility, Fee, Credit Card Bills)
Money Gram (Foreign Remmittance)
Liability Department:
Business Development
Trade Department:
Foreign Trade
Credit Department:
Loans and Credits
Accounts Department:
Accounts Maintenance
Data Management Service
Dispatching
Reporting
Expense and Payments
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Policies at Bank
Since the inception of Bank Alfalah Limited in 1997, by the grace of almighty, the
bank has moved rapidly in expanding its branch network and deposit base, along
with making profitable advances and increasing its range of products and services.
It has made a break-through in providing premier services at an affordable cost to
our customers. Managerial policies followed by the bank have a direct contribution
in its success. The Board and Management of the Bank have implemented strategies
and policies to carve a distinct position for the Bank in the market place. In a bid to
satisfy Bank Alfalahs shareholders and valued clients, the management initiated the
process of realization of the Bank's vision by consolidating its financial position
and creating a large and diversified business base. Bank Alfalah has made notable
progress in business volume, efficiency, and profitability following its increased
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involvement in trade finance, commercial lending, and foreign exchange and money
market operation.
Major policies that have been made and implemented at Bank Alfalah are: Consumer
Banking Policy.
Alfalahs policy regarding consumer-banking policies includes the development
through the electronic consumer banking operations. Likewise, Bank Alfalah has
created a niche for itself in the marketplace. It is planning to introduce new
consumer products like credit cards, e-banking etc.
Lending Policy:
Bank Alfalah pursues a conservative yet dynamic credit policy. This strategy has
enabled the bank to have a high quality risk portfolio. Bank prefers to finance
exporters because of less risk involved. Bank Alfalah manages the credit risk,
liquidity risk, market risk and other operational risks very efficiently. For this very
purpose Bank Alfalah has got an effective credit line proposals system to be
sanctioned to the clients on demand.
Selection of Clients:
Management is very selective of clients. All of the references are carefully checked
to learn about a potential client before establishing a relationship. References are
excellent sources of new accounts as they give an opportunity to learn about a
potential client before establishing a relationship. This policy helps in protecting
the integrity of the bank. It ensures good relationship with the clients.
Credit Facility:
In this service the loans are provided to the customers by the bank to meet revenue
shortfalls.
Punjab University, Gujranwala Campus
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Deposits:
The bank offers different types of Deposits to its account holders Alfalah
Musharakah Saving Account, Current Account, Musharakah Time Deposits On PLS
Basis.
Marketing Policy:
Bank Alfalah inverts heavily for the marketing policies and orientation, for the
publicity of its new products/services. It uses television advertisements, newspaper
as well as various promotional schemes to attract customers. The Bank sponsors a
number of sporting and community development initiatives to play its part as a
responsible corporate citizen.
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Accounting Policies:
Bank Alfalah has adopted almost the same accounting procedures that other
financial institutions are adopting at this time. These accounting procedures or
Accounting policies are made according to Generally Accepted Accounting
Principles, the GAAP. The process flow and the usage of the policies in the day
wise routine are mandatory for all the employees working in the specified
departments at the branch.
Recruitment Policy:
Hiring is mainly of two types i.e. direct hiring and promotion from lower levels.
Banks policy is to hire suitable candidates. By suitable candidates bank refers to
candidates having proper educational qualification, experience and background. It is
the policy of the bank that President of the bank will be the representative of
major stakeholders/owners. Board of Directors is representative of sponsors. Bank
is reluctant in making direct appointment of senior executives. EVPs are promoted
from lower levels. Every year Bank Alfalah opens its doors for about 30 fresh postgraduates to join the prestigious ranks of Management Trainee officers with the
Bank. The MTO scheme is a highly competitive and sought after induction scheme,
in which short-listed applicants appear in a written test followed by a panel
interview. Successful candidates then receive comprehensive training in essential
areas of branch banking at the Banks state-of-the-art training facility at Lahore and
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Growth Policy:
Bank Alfalah emphasizes on growth along with providing best quality customer
service. Banks policy is to maximize the synergies of branch network through
optimal allocation of financial, human and other resources to compete in the
marketplace.
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Liquidity Policy:
Bank Alfalah maintains positive and healthy liquidity. Banks policy is to keep
surplus liquidity in fixed income securities issued by the Federal Government of
Pakistan. If necessary it can be easily converted into cash.
Investments Policies:
Bank Alfalah investment policies are based on federal and provincial securities,
debentures, and participation term certificates treasury bills and blue chip share of
joint stock companies.
Job Satisfaction:
Job satisfaction is the major important factor to be considered while evaluating any
organization. To evaluate an organizations strength and repute in the industry, job
satisfaction is the key factor as well like that of growth and development in the
monetary terms. During my internship program, I observed being in touch with most
of the employees over there, that all the employees are working with devotion that
is the basis for job satisfaction. In addition all the employees are satisfied with the
working ambiance, with the salaries and with the increments and promotions. Only
thing to be mentioned out over here is the workload and the employee timings for
their job. Some of the employees are over burdened with the work. But that does not
impact the overall job satisfaction of the organization. Bank takes much care of its
employees because they are precious assets of it. Bank celebrates birthdays of all
employees, arrange trips and give them opportunity for recreation and enjoyment.
Bank hires officers in range 1. Then depending upon their job performance they are
promoted to next range. More facilities and increments are given along with
promotion. The bank gives a car facility to the officers of range 5. Banks policy is
to give cash rewards and salary increments for increasing the employees
satisfaction. Also with the expansion of the branch network growth in the current
era, more and more opportunities have been provoked not only for the young
generation but also for the employees of the bank. At Bank Alfalah the employees
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are very much satisfied with the job and the overall working conditions of the bank,
so in due response, the bank is enjoying high efficiency in managing the time delays
in reporting and working operations.
Management Styles:
Management must have to adopt some administrative style to get all the activities to
be done effectively and efficiently. As far as the management styles at Alfalah Bank
are concerned, there is both centralization and decentralization to some extent.
Management must adopt some administrative style to get all the activities done
effectively and efficiently. As far as the management style at Bank Alfalah Limited
Punjab University, Gujranwala Campus
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Managerial level:
Administrative style of Branch Manager is authoritative. His authoritative style is
the requirement of administration. For the implementation of strategies and getting
all the activities to be done properly with an organized environment, unity of
command was the requirement of the time. In his absence, I observed the
environment of uncertainty and deregulation in the bank to a little extent.
Staff level:
At the staff level, as employees are satisfied to the work assigned and authority
structure, so management at this level is concerned to the decisions of the
department heads level.
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Absenteeism
Irresponsible behavior
Coordination
Reporting time delays
Turnover
But at Bank Alfalah Ltd. these issues have never been provoked till now. This is due
to the fact that employees have been given equal importance as been given to high
level operatives. The following important aspects need consideration.
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Motivation:
The term motive implies action to satisfy a need. Motivation can be defined as a
willingness to expend energy to achieve a goal or a reward. The management styles
adopted by the bank affect greatly, and employees are motivated in order to enhance
their performance and achieve the derived goals.
the
overall
impact
of
the
well-equipped
management
styled
organization is the job efficiency and job satisfaction. At Bank Alfalah the
employees are very much satisfied with the job and the overall working conditions
of the bank, so in due response, the bank is enjoying high efficiency in managing
the time delays in reporting and working operations.
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Defensive Strategies
Integration Strategy:
Forward integration, backward integration, and horizontal integration are sometimes
collectively referred to as vertical integration strategies. Vertical integration
strategies allow a firm to gain control over distributors, suppliers, and/or
competitors.
Intensive Strategy:
Market penetration, market development, and product development are sometimes
referred to as intensive strategies because they require intensive efforts to
improve a firms competitive position with existing products.
Diversification Strategy:
Concentric, horizontal and conglomerate are some of the strategies, which are
inculcated under the head of diversification strategies. Overall, diversification
strategies are becoming less and less popular as organizations are finding it more
and more difficult to manage diverse business activities.
Defensive Strategy:
Another way to pursue strategies is through the defensive way, which includes joint
venture, retrenchment, divestiture and liquidation strategies.
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Debit/ATM Card VISA accepted at over 30 million outlets and more than 2
million ATMs worldwide
Open with an initial deposit of Rs. 1,000 only by visiting your nearest Bank Alfalah
branch from a network of over 540 online branches nationwide.
Alafalah Kifayat Monthly Savings Account:
If you are looking at earn monthly profits while enjoying ease and access to your
growing savings at all times? Alfalah Kifayat Savings Account is what you are
looking for!
Features:
VISA ATM/Debit Card accepted at more than 4500 1-Link network ATMs and
over 30 million outlets and more than 2 million ATMs worldwide.
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If you are looking to earn high rate of returns on your fixed deposits with the
benefit of monthly profits, then Alfalah Mahana Amdan is best suited for you.
Features and Benefits:
Invest with a minimum deposit of Rs. 50,000 for1 year term deposit & Rs.
100,000 for 3 years term deposit
Attractive rate of 8.5%* on 1 year term deposit & 9%* on 3 year term deposit
Visa ATM/Debit Card accepted at more than 4500 1-Link network ATMs in
Pakistan and over 30 million outlets and over 2 million ATMs worldwide
Easy access to funds through cheque book and VISA Debit/ATM Card that
can be used globally at over 30 million outlets and at more than
million ATMs.
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Easy access to funds through cheque book and VISA Debit/ATM Card that
can be used globally at over 30 million outlets and at more than
million ATMs
If you have a business that deals with large transaction volumes, then our Royal
Profit Account is the best choice to meet your daily financial requirements. It
encompasses the flexible features of a current account whilst also giving you the
benefits of a savings account.
Features & Benefits:
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Easy access to funds through your cheque book and VISA Debit/ATM Card
which can be used globally at over 30 million outlets and at more than 1.5
million ATMs
Convenience of online banking across all Bank Alfalah branches nation wide
VISA Debit/ATM Card accepted at over 30 million outlets and more than 1.5
million ATMs worldwide
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To manage your foreign currency transactions with security, ease and convenience ,
you can place your funds in our Foreign Currency Current and Savings Accounts.
Foreign Currency Current Account:
Profit is calculated on the daily balance and paid on a semi- annual basis
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Debit Card:
With Bank Alfalah Debit Card* you dont need to carry cash where ever you go.
Fuel up, dine, shop or travel easily with the globally accepted Bank Alfalah
Debit Card (Visa).
Loans:
We have designed our loan products keeping your individual needs in mind. With
affordable tailor-made financing options that offer you the flexibility to choose your
repayment plans, we help you stay in control of your finances and make the most of
lifes opportunities today.
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Documents Required:
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Eligibility:
You should be aged between 21 and 65 years of age (Loan maturity to fall in
the same age bracket)
Employment (Permanent/Contractual)
Business (Partnership/Proprietorship)
Co-Borrowers Income (Clubbing of Income)
Imported Vehicles
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provide you with up to 60% of the value of the plot that you have selected for
purchase! Payment period will range from 3 to 25 years.
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Eligibility:
Minimum take home income of Rs 50,000- per month from all sources.
If you are a non-resident salaried individual you must earn a minimum gross
monthly verifiable income equivalent to USD 5,000.
If you are self employed with a stream of income generated from property
rent/return on fixed deposit /DSC/SSC, you must have had the source of
income for at least last 6 months.
If you are a businessman, you must be running a business for at least 5 years
with a satisfactory track record of either an individually owned or a family
business.
Documents Required:
The following documents are required to be submitted by an applicant along with
the completed application Form.
Basic Documents:
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Copies of complete chain of title documents of the property being offered (if
identified).
Letter of understanding.*
Salary Certificate (original) from the employer, showing the gross salary,
deductions and length of service.
Copy of Pakistani Passport valid for at least next 6 months & NICOP attested
from Pakistani Consulate /Employers HR Manager (BALs representative
office where available can also attest the documents to facilitate the
transaction).
Copies of last 3 years Tax Returns ( not applicable for Middle Eastern &
other countries where tax is not mandatory or tax exemption is held)
The customer shall be required to open an account with the Bank for
liquidating his home finance liability through foreign remittances by using
normal banking channels
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Additional
documents
for
Businessmen/Self-Employed
Individuals
(as
applicable)
Copy
of
current
professional
association
membership
trade
body
Letter from company secretary confirming either the status and share-holding
or remuneration (where applicant is a Director / paid Director of company).
Credit Cards:
Bank Alfalah chip based credit cards open up a world of lifestyle privileges and
financial freedom that allow you to enjoy living life today just the way you want
to! The newly designed chip based credit card offers you enhanced security features
to protect your information from fraudulent acts. The chip generates dynamic values
for each transaction, providing greater security every time you swipe.
Your existing Alfalah Credit Card will soon be upgraded to a chip-based credit card
or you can choose a card that best suits your lifestyle needs. Become part of the
largest credit card family in the country and enjoy unparalleled service and
discounts every time you travel, shop or dine out.
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The Bank Alfalah Credit Card carries the Visa logo, hence ensuring worldwide
acceptability at more than 30 million establishments and 1.5 million ATMs
worldwide.
Bancassurance:
Our Bancassurance solutions are specially designed to help you protect and secure a
stable future with your loved ones. Partnering with leading insurance companies in
the country, we offer a diverse range of insurance plans, customized to meet your
savings, education, marriage and retirement needs at every stage in life.
Education Plans:
Alfalah Qalam Education Plan is an education savings plan being offered in
collaboration with EFU Life.
Features & Benefits:
Unit Accumulation and Investment Fund
Every contribution paid towards the plan is placed in an EFU Life internal
investment fund selected by the customer. The contributions are utilized to purchase
units of the fund at the prevailing offer price. The objective of the funds is to
maximize capital growth by investing in a balanced portfolio spread across a wide
range of investment opportunities.
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Maturity Benefit:
On maturity of the plan, total cash value of units applicable to basic premiums and
FAP payments are paid. The maturity payout can be taken in 2, 3, or 4 installments.
Optional Benefits:
Income Benefit
Eligibility:
The plan is available to all Bank Alfalah customers between 18 to 55 years of age.
Term of Plan:
Minimum Term: 10 years
Maximum Term: 25 years subject to a maximum age of 75 years at maturity.
Premium Limit:
Minimum: Rs. 25,000 annually Maximum: No limit.
Roshni , is a child education plan in collaboration with New Jubilee that gives you
the flexibility to select the insurance coverage of your choice.
Features & Benefits
All your invested premiums are completely secure. This means at the time of
maturity of the plan you get the higher of your total contributions or cash
values of the policy.
It is a flexible plan which gives you the ability to select the sum assured of
your choice.
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If the life assured expires during the term of the plan, his beneficiaries will
be entitled to the sum assured or the cash value, whichever is higher. You can
determine the sum assured by multiplying your annualized basic premium
amount by the cover multiple (offered from 3 to 254)* depending on your
savings and insurance needs. For example, if your annual basic premium
contribution is PKR 100,000 and you have selected a cover multiple of 10,
your total sum assured would be 100,000 x 10 = 1,000,000.
* The range of cover multiples available to the policy holder varies with the age at
the time of entry of the life assured.
Home Remittance:
We offer unmatched services for overseas Pakistanis to send money home fast and
free across our large network of over 470 branches in more than 160 cities across
Pakistan. Enjoy the convenience of sending home remittances to your loved one
through our International Send Agents in any of the following modes.
Cash over Counter: Your remittance can be collected by your loved one in
cash of up to Rs. 500,000 from any of our branches across Pakistan.
Cash over Account: You can send money to Pakistan through hassle free
account credit in a Bank Alfalah maintained account or in an account in any
RTGS member bank.
Pay Order/ Demand Draft: If you are maintaining an account with a nonRTGS member bank, you can conveniently send money through Pay Order or
Demand Draft facility.
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Trade Finance:
We offer a wide range of trade services designed to meet a range of our corporate
clients needs. We have Industry specialists who are professional and seasoned to
make sure that all your trade finance requirements are taken care of with precision
and skill. The team is strongly supported by a wide and effective correspondents
network spread worldwide. Our team of specialists goes the extra mile to ensure
that our customers` experience with the below mentioned services is nothing but
exceptional.
Letter of Credit
Import Finance
Export Finance
Bank Guarantee
Dividend Redemption
The Bank also provides the requisite MIS of all the banker to the issue/dividend
transactions on the prescribed format as and when required by the customer.
Investment Banking:
Our seasoned Investment Banking team is fully equipped to help you in the
following areas:
1. Leveraged and Structured Finance
2. Project and Infrastructure Financing (Recourse & Non-recourse based)
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Foreign Exchange:
Our FX desk is one of the most active participants in the interbank market dealing
in ready, spot, forward and swap transactions for all major currencies. Our sizable
FX Book allows us to be a market maker in the interbank markets of Pakistan,
Afghanistan and Bangladesh. This enables us to offer our corporate and individual
customers the most competitive rates in all market conditions. Further, through our
extensive NOSTRO account network we are able to offer timely funding solutions
for importers dealing in G10 and other major currencies including the ACU Dollar
currency prevalent in the South Asian market.
During trading hours an experienced team of Treasury Sales Dealers is available on
dedicated recorded telephone lines to quote FX rates for Spot, Forward and Bill
Discounting Transactions. Since we are an active market maker in the FX Interbank
Market, we are able to offer competitive rates in both major and exotic currencies.
Active client engagement is central to the our philosophy we stay close to our
customers through regular client visits and we remain relevant at all times by
offering a holistic product suite, often customizing solutions to meet specific
customer requirements.
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exact day in the future or conclude forward with floating maturity for an agreed
time frame within which the client has the opportunity to realize the contract on an
optional day.
Fixed Income:
Our dedicated fixed income trading desk is one of the most active participants in all
segments of the domestic money and bond markets.
Business Banking
Alfalah SME Toolkit:
Bank Alfalah is proud to be the first bank in Pakistan to introduce an SME toolkit in
partnership with International Finance Corporation (IFC). It is an online business
management tool dedicated to help small and medium enterprises to develop
sustained
growth
through
implementation
of
business
practices
based
on
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The need for supporting SMEs has never been stronger in Pakistan. Small
businesses are amongst the highest with growth potential and innovation, with
businessmen from all walks of life, working hard to positively impact the society
and consumers with innovative products and services.
Alfalah SME Toolkit is a free of charge online portal which provides value
added resources including business advice, local and global best practices and
various interactive tools to help both existing and potential SMEs grow and
develop. This web based toolkit contains:
Business Loans
At times, businesses can experience challenges with an unavailability of finances as a result of
the difference in timings of cash inflows and outflows, up-gradation of existing facilities and
business expansion.
Our dedicated team of relationship managers can provide you with a range of business loans and
solutions to meet your specific short-term or long-term funding and business expansion
requirements.
Alfalah Karobar Finance:
Alfalah Karobar Finance offers running finance, LG, LC and other import/export
related facilities against mortgage of residential/commercial property.
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Eligibility:
The
security
against
the
finance
should
be
mortgage
of
urban
and PKR/FCY
deposit.
Features and benefits:
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The amount of financing under Alfalah Quick Finance ranges from PKR.
50,000 to PKR. 300M
Eligibility:
Applicant must be a Pakistani National Identity Card holder if the loan is not
backed by foreign currency account.
Lease Finance:
We work very closely with our clients and strive to deliver the most comprehensive
and tailored leasing products to meet all their business needs. With one of the most
competitively priced solutions, with flexible terms & conditions based on your
choice of assets, repayment, pricing, and tenures, we can help you preserve working
capital in your business, while benefiting from the use of the equipment.
Features & Benefits:
Customized leasing solutions at to meet your cash flow streams
Affordable markup rates
Repayment tenures of 3 to 5 years
Quick processing and loan disbursal
Minimal processing charges
The lease finance facilities are available for a variety of assets (imported/local) but
not limited to the following categories:
-Vehicles (Private & Commercial)
-Plant, Machinery and equipment
-CNG Equipment
-Generators(Industrial & Commercial)
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Repayment tenure from 2 years to 15 years depending upon the nature of the
financing on monthly installments.
Agri Loans:
We realize the strong contribution of agriculture in our countrys economy and the
growing financial needs of our farmers. Our Rural Finance Program Alfalah Zarie
Sahulat offers finance facilities covering an entire spectrum of farming and nonfarming needs with a wide range of products on flexible short, medium and long
term repayment tenures at affordable markup rates.
Alfalah Paidawari Zarie Sahulat: Short term production loan facility against
crop.
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Alfalah Poultry Zarie Sahulat: Running finance facility for working capital
and fixed investment needs such as broiler and layer production, breeder
flock, GP flock, hatchery, product processing, packing, transportation,
storage and compound feed making.
Alfalah Dairy & Livestock Zarie Sahulat: Running finance facility for
working capital and fixed investment needs such as dairy and milk animals,
feed lot and fattening station structure and equipment, livestock farm
structure and equipment, fattening of animal, milk chilling plant, milk plant,
cold storage, construction of sheds for animal, opening of private veterinary
clinics (veterinary equipment), opening of veterinary store, milk plant and
other eligible items.
charges,
running
charges
of
tube
well
pumps,
construction,
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Alfalah
Marketing
Zarie
Sahulat: Running
finance
facility
for
the
Alfalah Agri Industrial Zarie Sahulat: Running finance facility for setting
up seeds processing units, installation of fruit and vegetables machinery, milk
chilling units, milk plants, polishing, grading, packaging of fruits and
vegetables, cotton ginning factories under BMR, compound feed mills.
Alfalah Lease Zarie Sahulat: Financing for leasing tractors, tube wells,
farm machinery, plants and equipment.
Documents Required:
Copy of CNIC
Photograph
Agri/Zarie Pass Book in case of agri land / and or title documents in case of
residential house, commercial or residential land
Khasra Gardawri
3 years ASV (Average Sales value) from revenue office / FSV through the
Banks approved evaluators.
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Branchless Banking
Mobile Paisa:
Bank Alfalah has joined hands with Warid Telecom to launch Mobile Paisa; a
branchless banking service which aims to provide innovative, technology based
financial solutions to customers. Mobile Paisa currently offers customers with Over
the Counter (OTC) facilities for making utility bill payments as well as Person to
Person (P2P) funds transfer services via 2000 plus agent locations across Pakistan.
With the launch of Mobile Paisa, the Bank aims to support the creation of a
branchless banking and alternate payments ecosystem which is likely to augment
financial inclusion in the country, thereby reducing the gap between the banked and
the yet-to-be-banked. In addition, Mobile Paisa will also provide bespoke products
and services to Pakistans existing banking population, including solutions for SME,
agri & payroll segments. The ultimate objective is multi pronged; firstly, to enable
individuals to conduct transactions through a wider array of products and
distribution channels and secondly, to eventually enhance access to financial
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services by broadening the banking population ambit a critical gap which needs to
be addressed in Pakistan.
Individuals can use Mobile Paisa services by visiting their nearest Mobile Paisa
agent location, Warid Business Center or Warid Franchise.
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Electricity:
Telephone:
Gas:
Service Charges:
There are no service charges for bill payments made through a Mobile Paisa Outlet.
G2P:
In 2010, Pakistan was faced with catastrophic monsoon floods in the countrys
history, affecting over 20 million people by means of destruction of livelihood,
property and infrastructure. In response to the crisis, the Government of Pakistan
set up the Citizens Damage Compensation (CDCP) in collaboration with the
provincial governments and the private sector to support affectees in recovery
efforts. Bank Alfalah Limited has been selected as one of the partners for two key
G2P projects, namely, Watan Card Programme and the Benazir Income Support
Program (BISP). In phase I, BAL disbursed Rs. 20,000 each to nearly 108,000
families. For this effort, BAL issued VISA debit cards, called Watan Cards, to
beneficiaries identified by NADRA and GoP. BAL created 18 centres in Punjab and
Gilgit-Baltistan provinces to disburse Cards and Cash to affected persons. Phase II
Punjab University, Gujranwala Campus
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E-Statements:
With our e-statement service, you can receive monthly, quarterly or half-yearly
account statements directly via email. This facility is offered to you at no extra cost,
all you need is a personal e-mail address to which your e-statements will be sent.
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Islamic Banking
Bank Alfalah Islamic Banking was established as a dedicated Islamic Banking
Division within Bank Alfalah Limited in 2003 to offer its customers products that
are Shariah compliant. By introducing Islamic financial solutions, we are fulfilling
our promise of being responsive to our customers needs.
Bank Alfalah Islamic Banking comprises a team of qualified professionals who
design and structure Islamic financial solutions and ensure that they are in line with
Shariah principles on Islamic banking and finance. These solutions are developed
under the guidance of a dedicated Shariah Advisor.
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Shariah Advisor:
Dr. Mufti Khalil Ahmad Aazami
Email: khalil.ahmad@bankalfalah.com
Teaching various courses in Islamic Studies and Arabic at Jamia Darul Uloom
Karachi. (1999 to date)
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CRO:
At the start of my internship I was appointed in the department of CRO which
means Customer Relationship Officer. In this department I was told how to deal
with customers and how to help and guide them for different issues. Ms. Aqsa
Gillani was very cooperative and helpful in my learning.
Also I learned here two types of deposit slips which are used in depositing cheque
and cash. These are as Follow:
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Current Account
Savings Account
Alfalah Kamyab Karobar Account
Royal Profit Account
Pocket Money Account
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Individual
Joint
Sole Proprietor
Private Ltd Company
Public Limited (listed or unlisted)
Trust/Society/NGO
Partnership (Registered or Un-registered)
Other
Other Requirement:
CNIC
Signature Specimen Card
Cheque Book Requisition
Undertaking Form
Signature Acceptance Form
Application Form
Process:
The account opening process is one of the easiest and minimum time consuming.
Account can be open within half an hour. All a customer need is filling the account
opening form, provide id card copies and letter head in case of company and other
legal documents.
After documents are customer is checked through Verisys System which a
verification system to check any discrepancies or to confirm the customer ha valid
id card. In case of company NTN number is verified through FBR.
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Stop Payment:
If a customer looses their cheque book, then that customer will have to come to the
bank and firstly report the loss and then stop payment, by telling the series of
cheque he has lost. By stopping payment, the customer is guaranteed that no illegal
payment is made from their account.
The process for stopping payment, after the customer tells that he has lost is cheque
book is that he fills a Form B, which is same as a cheque book requisition form
and an indemnity form, stating no responsibility on behalf of the bank if any illegal
payment is made before the time of announcing a cheque book lost.
As part of my internship, I was to assist a customer towards the whole process of
stopping payment.
Bank Statement and Bank Balance:
A bank statement tells the whole activity of a bank account over a period of time.
Customers often come and want their bank statements and have to fill a form,
relating to the time period for which the bank statement is needed.
As part of my internship, I was to assist the customer to fill the Bank Statement
Form and produce the statement through the banks software and print it as well.
Often customers want to know their accounts balance over the phone and thus I had
to tell them their account balances using the banks information system Bank
Smart.
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ATM Card:
ATM (Automated Teller machine) Cards are also issued in this department. ATM
card can be also used as debit card which means you can buy upto the limit of
money in your account.
Lockers:
There are three types of Lockers:
Small
Medium
Large
Small Locker:
Its annual charges are Rs. 2000 + 16% FED.
Medium Locker:
Its annual charges are Rs. 3000 + 16% FED.
Large Locker:
Its annual charges are Rs. 4000 + 16% FED.
Reporting to Head Office:
This department has some other duties of reporting to head office if a customer
deposit or withdraw upto Rs. 2.5 Million.
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Process:
File Processing Requirements:
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Pictures
ID card Copy
Reference
Pre-Screening:
Verification is customer is fulfilling conditions, is ID Card is original, Age is
Between 21-65 years, statements of account are correct.
Verification:
Data verification Unit (DVU)
There are two kinds of Verifications:
1. External: which is physical survey of premises
2. Internal: Telephonic verification
After all these processes documents are forwarded to Lahore credit department. The
credit department of Lahore then analyze the documents through analysts who check
it quantitatively and qualitatively. Then they give final decision for Approval of
case.
When case is approved the department demands down payment and first installment
after which car is given to customer. They also demand post dated cheques for
security.
Markup:
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Classic
Gold
Platinum
Titanium
Classic:
It has credit limit upto Rs. 150,000
Gold:
It has Credit limit upto Rs. 150,000 350,000
Platinum:
It has credit limit upto Rs. 350,000 10,00,000
Titanium:
It has credit limit upto Rs. 10,00,000 20,00,000
ID Card copy
Six Months Statement of account
Utility Bills of last 3 months
Proprietorship letter (given by bank)
If not company account the provide NTN number
The credit limit is upto balance
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4,675,950
Earning per share
Rs. 3.47
Rs 3.38
Profit after taxation for the year 2013 is Rs 4,675,950, which is just an increase of
3.5%, also earning per share, a ratio that is closely looked over by the shareholders
of a company increased from Rs. 3.38 to Rs. 3.47. The major reason for this
increase in this ratio is mainly the small increase in profits before taxation, decrease
in provisions from the past year.
Source: Bank Alfalah Annual Report 2013
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Year
EPS
Rs)
2007
2008
2009
2010
2011
2012
2013
3.92
1.41
0.71
0.72
2.60
3.38
3.47
(in
Ratio Analysis:
Some of the ratios calculated for Bank Alfalah are as follows:
Income/Expense Ratio: The income to expense ratio is 3.02 in 2013, which
decreased from 3.44 in 2012 and is thus unfavorable as now Bank Alfalah has less
income to pay off its expenses from.
Advances / Deposits Ratio: This ratio is 52.11% in 2013, a rise from 51.18% the
previous year. This ratio shows that for every 100 deposits for Bank Alfalah, a
liability, there are 52.11 advances, an asset for Bank Alfalah. As this ratio has
increased, it shows that Bank Alfalah now as more capacity to pay off its total
deposits from the advances it gives out.
Return on Total Assets: This ratio measures the extent to which total assets of the
bank were used to generate income available for common stockholders. This ratio
was 0.82% in 2013, which was a decrease from 0.91% from the previous year and is
mainly due to the fact there was a small increase in profits as compared to the total
assets.
Return on Total Equity: This ratio like the ROA previously calculated is a debt
management ratio and is calculated by dividing the net income available for
common stockholders by the common stockholders equity. This ratio was 17.39% in
2013, which decreased from 18.94% in 2012. The decrease in this ratio is mainly
due to two reasons: firstly there was a small increase in the earnings available for
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Special Analysis:
Earning Assets to Total Assets: This is the activity ratio of the bank, it shows how
many assets the bank puts into work by its management. This ratio is not 100%
controlled by the management rather it depends on central bank policy.
The results shows 0.84% in 2013 which is a good ratio which means bank has put
most of its assets into work.
Return On Earning Assets: This is the profitability ratio of the bank which shows
how effectively bank puts its assets. The results shows 1.31% in 2013.
Net Margin to Earning Assets: This is also a profitability ratio of bank and it
shows how effectively the bank has control the spread of interest revenue over
interest expense. The higher answer indicates the better profitability of bank. The
2013 results indicates this ratio is 3.26% which is a good answer.
Loan Loss Coverage: This is management ratio. It provides a protection level to
the depositors that the bank has sufficient income to cover its loan loss. This ratio
was 8.09 times which shows a high and positive sign.
Deposit Times Capital: It is debt to equity ratio of the bank and low answer and
high answer have their own prospects. This ratio was 16.47 times in 2013 for
Alfalah bank.
Loans to deposits: It is asset to liability ratio of the bank and it shows the assets
available against the deposits, higher answer will gives the satisfaction. This ratio
was 0.98% in 2013 for Alfalah.
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SWOT Analysis
Strengths
Bank has a belief in customer service
Backed by strong Abu Dhabi Consortium
Customer give suggestion for the improvement of bank and these
suggestions are listened carefully.
Manager & EVP Mr. Asif A. Sheikh has good coordination with staff
members.
Environment is friendly.
Products are excellent
Expansion is consistent
Modernized banking (online + Internet)
Fully computerized, each department has to own PC.
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WEAKNESSES
BCCI Image.
Mixed Culture
New Setup
No ATM facility is provided
No traveler cheques are issued.
Tokens are not issued to customer so the chances of doubling are present.
No credit card facility is available.
Personal Lockers are not available.
No internal audit is held.
Staff is lesser.
OPPORTUNITIES
Information Technology.
Credit Card Facility
Internet Banking
Establishing Foreign Branches
Local Setup Expand
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THREATS
Competition
Legal Reputation
Conclusion
The economy of the country is booming and with the investment favorable policies
and their smooth implementation, the role of banks in todays economy have
become an important one.
The banking industry is also reaping the fruits of this economic boom by growing
rapidly over the past few years. There are a number of mergers happening in the
economy with foreign investments coming into the banking sector.
It has been ten years since the establishment of Bank Alfalah, and since its
establishment it has aimed to become the leading bank of Pakistan by that provides
outstanding services to its customers.
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The bank has seen phenomenal growth in the past few years by opening more
branches in the country, increasing the deposit base, while also increasing the assets
and profits of the bank.
The services that Bank Alfalah provides have a great market penetration not only
because of their features but also the profit and markup rates that they charge. Also
the products that Bank Alfalah provides cater to sector of the economy.
The top management of the bank is always developing strategies that cope with
unexpected challenges to deliver products and services more efficiently
Furthermore, as the bank is growing, the number of employees at Bank Alfalah are
increasing, which shows that Bank Alfalah is being considered as a an employer,
that provides its employees with a challenging environment to work in, where they
can harness their full potential and shows confidence as an employer by the
employees of the bank.
Lastly to become the leading bank of Pakistan, Bank Alfalah has to benchmark its
services to its major competitors in the industry or the market leader in the industry
and provide a continuous mean of improvement in its existing products and
services, while introducing new ones to the industry.
In the last section, I would like to give some recommendations and is hoped that if
they are implemented will bring benefits to Bank Alfalah.
Recommendations
S ome
discussed in the above section, that might increase the efficiency of both the
operations and employees of Bank Alfalah are as follows
Bank Alfalah should develop a modern connectivity architecture to effectively
maintain an online connection of the branch with other branches and also the ATM
link, which may include using modern technologies like fiber cables, routers etc.
Also backup links should also be developed,
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Incentives:
Incentive schemes should be developed for the employees that can help motivate
them, which might include:
Personal loans and car financing facilities for all ranks of employees.
Innovative Products:
New and innovative products should be introduced by Bank Alfalah, like other bank
such as Citibank and Standard Chartered Bank develops for their customer. For this
purpose, special teams should be developed that include professional from all
departments of the banks to come with ideas. This process will increase the number
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of ideas generated and even produce innovative products for the bank that might
give them the edge.
There are some departments in the bank that do not have enough employees, while
some have more than needed. All this creates inefficiencies and so the operations
manager should look at the department of the branch and see where inefficiencies
lie, in consultation of with the heads of the departments and hire individuals where
there are less employees or rotate employees from other departments.
Amenities in Branch:
There should be a prayer room developed in all branches as many employees want
to pray, but do not have the proper place to do it. Also work like sorting, which
takes up a lot of space should be done in a separate place and amenities like
television and internet connection should be placed in the common room, so as to
give employees a relaxing environment when they have a break.
The sources from which I collected information are as follow:
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Glossary
A
WORDS
Asset
Accrued Expense
MEANINGS
belongings of someone like plant, machinery
Amount owed but not yet paid
B
WORDS
MEANINGS
Balance Sheet
C
WORDS
MEANINGS
Collaboration
Commercial Paper
Core
Clearing
MEANINGS
WORDS
scatter abroad
Disseminate
Debt
amount owed
E
WORDS
MEANINGS
EPS
Elegant
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MEANINGS
WORDS
Financial Ratio
Flourishing
prosperity
H
WORDS
Hampers
MEANINGS
hinder
I
WORDS
Inflation
Intermediaries
MEANINGS
A rise in average price level
acting between parties
K
WORDS
MEANING
Knobs
L
WORDS
MEANING
Liquidity
Lobbying
M
WORDS
MEANING
Maturity
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P
WORDS
MEANING
Pledging
bind by promise
Q
WORDS
Quest
MEANING
search, look after
S
WORDS
MEANING
T
WORDS
Terrain
MEANING
ground of particular feature
V
WORDS
Versatility
MEANING
of many sided ability
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Annexure
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