INTERNSHIP REPORT

JS bank
We value our success

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 thankful ALLAH and with gratitude. salute to I am also very who

presents

individuals

have helped me in shaping this report. I am also very much thankful to lot of former fellows and contemporary colleagues. I am also very thankful to my advisor MR.ADEEL AHMED SHAH (operations manager) for his intellectual guidance. I am also very thankful to the very helpful and cooperative staff of JS BANK I8 MARKAZ BRANCH

especially to MR .SYED NAEEM AHMED (branch manager) who provided me this opportunity to work in this friendly environment. It was an honor and pleasure to work with: y Mr. Ajmal Raja ( relationship manager) y Mr. Sohaib Sarmad ( relationship manager)

y Miss .Sania Zohraz ( relationship manager) y Miss Asma ( C.R.O) y Miss Sana Amjad (teller)

y Mr. Rashid ( teller)

Executive Summary

Internship is an essential and primary part of BBA (Hons) program. Main purpose of internship is to have sensible and practical experience and knowledge .I resolute to take up JS BANK for my internship because it was a competing bank and gave a good platform for training to the internees. The main objective for an internship period is for students to obtain to recognize about working within an association or organization. During my placement period I learned the practical and realistic aspects of business and got good working experience. I came to identify that how Staff members work in traumatic and stressful milieu and deal with customers so graciously. During the Internship, I worked in various operations as general banking including cash operation, clearing remittances, account opening procedure. This internship has rewarded and satisfied me with a number of new experiences that I did not come across during my BBA studies. It has prejudiced positively which will ultimately facilitate me in my future InshAllah.

What is BANK?
An organization, usually a corporation, chartered by a state or federal government, which does most or all of the following: receives demand deposits and time deposits, honors instruments drawn on them and pays interest on them ; discount notes, make loans and invest in securities; collects checks, drafts and notes; certifies depositor's checks; and issues drafts and cashier's checks.

According to Dr. Hart Banker or bank is a person or company carrying on business of receiving money and collecting drafts for the customers subject to the obligation of honoring cheques drawn upon them from time to time by customers to the extends of the amounts available on their currents

accounts

History of BANKing in Pakistan

Banking in fact is primitive as human society, for ever since man came to realize the importance of money as a medium of exchange; the necessity of a controlling or regulating agency or institution was naturally felt. Perhaps it was the Babylonians who developed banking system as early as 2000 BC. IT is evident that the temples of Babylon were used as Banks because of the prevalent respect and confidence in the clergy.

The partition plan was announced on June 3, 1947 and August 15, 1949 was fixed as the date on which independence was to take effect. It was decided that the Reserve bank of India should continue to function in the dominion of Pakistan until September 30, 1948 due to administrative and technical difficulties involved in immediately establishing and operating a Central Bank.

At the time of partition, total numbers of banks in Pakistan were 38. The total deposits in Pakistani banks stood at Rs.880 million whereas the advances were Rs.198 million. The Governor General of Pakistan, Muhammad Ali Jinnah issued the order for the establishment of State Bank of Pakistan on 1st of July 1948.

List of BANKS in Pakistan

y y y y y y y First Women Bank Limited National Bank of Pakistan Sindh Bank Limited The Bank of Khyber The Bank of Punjab Industrial Development Bank of Pakistan SME Bank Limited The Punjab Provincial Cooperative Bank Ltd y Zarai Taraqiati Bank Limited

Private Banks:Allied Bank Limited Askari Bank Limited Bank Alfalah Limited Bank Al Habib Limited Faysal Bank Limited Habib Bank Limited Habib Metropolitan Bank Limited JS Bank Limited

y y y y y y y y

y y y y y y y y

KASB Bank Limited MCB Bank Limited Mybank Limited NIB Bank Limited SAMBA Bank Limited SILKBANK Limited Soneri Bank Limited United Bank Limited

Islamic Banks:y y y y y AlBaraka Bank (Pakistan) Limited BankIslami Pakistan Limited Dawood Islamic Bank Limited Dubai Islamic Bank Pakistan Limited Meezan Bank Limited

J.S GROUP
JS Group controls and operates market-leading financial services companies in Pakistan across sectors including asset management, commercial banking, Islamic banking, insurance, investment banking, financial advisory services, stock brokerage, company research, consumer credit rating, factoring and micro finance. JS Group also has investments throughout Pakistan's economy, including its industrial sector, technology & media sectors, commercial real estate, energy & natural resources and aviation. JS Group, also known as Jahangir Siddiqui Group, is one of the biggest financial services provider of Pakistan, as well as the second largest shareholder of EFU Insurance. It is headquartered in Karachi, with important district offices in Lahore and Islamabad. The investment branch of JS Group and the Pakistan arm of American Express were merged to form JS Bank Limited.

JS BANK

JS Bank Limited has been formed after the merger and amalgamation of Jahangir Siddiqui Investment Bank Limited and commercial banking operations of American Express Bank Ltd Pakistan. JS Bank Limited commenced operations in Pakistan as a fully scheduled bank on December 30, 2006. JS Bank Limited also has a Primary Dealer license for government securities from the State Bank of Pakistan. JS Banks focus is to provide a quality and innovative range of banking services and products. The Banks key activities can be categorized into three Business Units:

y y y y

Retail and Consumer Banking Treasury Corporate & Commercial Banking Investment Banking

J.S bank has more than 100 branches in all over Pakistan

Vision statement:To provide quality and innovative range of banking services and products to our customers by a highly motivated team of professionals whilst maintaining high ethical and regulatory standards thereby, generating sustainable returns to our shareholders

Mission statement:To be a preferred partner of our customers by providing complete financial solutions exceeding service expectations, though a single relationship via conventional and non conventional, conveniently accessible distribution channels.

Corporate information:-

Head office:Branch Code Branch Name Branch Address Swift Code Branch Manager Phone Fax 296 Shaheen Complex Shaheen Commercial Complex, Dr. Zia ud din Ahmed Road, P.O.BOX No.4847 Jsblpkka Zulfiqar Ali Abedi 21111572265 2132631803

I8 markaz branch:Branch Code 9562

Branch Name Branch Address Swift Code Branch Manager Phone Fax

I-8 Markaz Branch Plot # 11,12,13 & 14, Ahmed Plaza, I-8,Markaz, Islamabad Jsblpkka Syed Naim Ahmed 514864523 514864

Official website:http://www.jsbl.com

Departments of JS bank
The following are the departments of JS bank under which it operates all functions of bank diligently.

o Customer relationship department o Account opening department o Remittances department o Cash/clearing department

J.S products & services:

o o o

Retail banking Wealth management Investment banking

 Retail Banking:Retail Banking at JS Bank offers a variety of products and services for both depositors and borrowers at competitive rates. Please call or visit our Retail Banking team to discuss your financial needs. You may take a snapshot of the Products & Services in the menu on

the left hand side of the screen. To get further details, please click on to the specific Product or Service. Please note that Zakat, w/tax, or any other tax/ conditions are applicable as per Regulations.

             

Kamiyab Business Account Rupee Plus Account Rupee Current Account PLS Rupee Saving Account Rupee Basic Banking Account Rupee Fixed Deposits Foreign Currency Account Loans & Running Finance Western Union Home Remittance Countrywide Account Operation Tele-banking SWIFT transfer Utility Bills payment 9 to 5 Non-stop banking

1) Kamiyab Business Account

Perfect for the businessman, the Kamiyab Business Account is specially tailored to make your transactions smoother and speedier. This account allows you to get the real deal for

the success of your business by offering the following services absolutely free of charge: o Free Online Inter-city Funds Transfer o Free Return Cheque (outward) o Free Demand Draft and Pay Order Issuance

Additionally, by maintaining an average monthly balance of only PKR 50,000 in your Kamiyab Business Account, you can get the following services along with the ones listed above absolutely free: o Counter Cheques o Collection Cheque (Local) o Retained Mail o Stop Payment o Chequebook Issuance (25 leaves) o Small Locker* o ATM Card Issuance** o ATM Card Annual Fee Waiver o Telex / Postage o Statement Issuance o Balance Certificate

2) Rupee Plus Account

A high performance savings account, the Rupee Plus Account calculates your profits on a daily basis to give you maximum returns with the greatest flexibility. By opening your Rupee Plus Account with JS Bank, you can avail the following services absolutely free of charge: o Free Online Inter-city Funds Transfer o Free Return Cheque (outward) o Free Demand Draft and Pay Order Issuance

By maintaining an average monthly balance of PKR 250,000 in your Rupee Plus Account, you can also get the following additional services along with the ones listed above absolutely free: o Counter Cheques o Collection Cheque (Local) o Retained Mail o Stop Payment o Chequebook Issuance (25 leaves) o Small Locker* o ATM Card Issuance** o ATM Card Annual Fee Waiver o Telex / Postage o Statement Issuance o Balance Certificate

3) Rupee Current Account

A non-profit bearing account, the Rupee Current Account is primarily geared towards individuals and companies that have a large turnover of cheques. There is no initial balance requirement to open this account which offers the following services free of charge upon maintaining an average monthly balance of PKR 50,000:

o Free Online Inter-city Funds Transfer o Free Return Cheque (outward) o Free Demand Draft and Pay Order Issuance o Counter Cheques o Collection Cheque (Local) o Retained Mail o Stop Payment o Chequebook Issuance (25 leaves) o Small Locker* o ATM Card Issuance** o ATM Card Annual Fee Waiver o Telex / Postage o Statement Issuance o Balance Certificate

4) PLS Rupee Saving Account

The JS Bank PLS Saving Account is a Profit and Loss Sharing account that empowers you to get good returns from your savings with security and convenience. With this account you can avail the following services absolutely free of charge:

Free Online Inter-city Funds Transfer Free Return Cheque (outward) Free Demand Draft and Pay Order Issuance

In addition to this, by maintaining an average monthly balance of PKR 100,000 in your PLS Saving Account, you can get the following services along with the ones listed above absolutely free:

o Counter Cheques o Collection Cheque (Local) o Retained Mail o Stop Payment o Chequebook Issuance (25 leaves) o Small Locker* o ATM Card Issuance** o ATM Card Annual Fee Waiver o Telex / Postage o Statement Issuance o Balance Certificate

5) Rupee Basic Banking Account

Rupee account that can be opened with Rs 1,000/= as minimum balance requirement. Ideal for salaried persons and individuals with low transaction turnover need.

o o o o

No transactional charges up to 2 deposit transactions & 2 checking withdrawals. No minimum balance requirements. No charges to maintain the account. Country wide banking facility.

6) Rupee Fixed Deposits Avail Fixed deposits products with different tenors and competitive rates. You can place your idle deposits available in Current, Savings, Kamiyab or Rupee Plus account and reap the benefit of optimum return.

o o

Various tenors Disbursement of profit based upon your choice.

7) Foreign Currency Account

Current & Savings accounts in USD, Pound Stg, and Euro are available.

8) Loans & Running Finance

We offer Running finance & Loan facilities against Deposits and Govt. of Pakistan securities to be used as collateral. A dedicated Relationship officer will look after all your credit needs.

o o

Quick processing Competitive rates

9) Western Union Home Remittance

Fast and reliable way for receiving money transfer from across 190 countries & territories worldwide.

o o o

No bank account needed. Regular money transfer are usually available within minutes for pick up by the recipient Receive inward remittance from anywhere in the world

10) Countrywide Account Operation

You can operate your account from any of the branches of JS Bank Limited. We have aggressive plans to expand our branch network giving our customers a wider branch network. (subject to approval from Regulatory authorities.)

o o o

Deposit & withdraw cash Issuance of Pay orders & Demand draft. Statement of account printout

11) Tele-banking Accessible via pin code a 24/7 phone banking facility for balance inquiry from anywhere in Pakistan or overseas.

o o

Obtain balances and details of the last five transactions. Offers account statements via fax.

12) SWIFT transfer State of the art foreign currency account funds transfer system. From Pakistan to overseas and vice versa. Local regulations apply.

o o

State of the art SWIFT mode of payment, ensuring funds transfer in shortest time. Secure and efficient delivery system for inward and outward payment

13) Utility Bills payment Public can conveniently deposit Electricity, Sui gas & PTCL bills at any of our bank's branches.

o o

Comfortable environment No need to maintain bank account

14) 9 to 5 Non-stop banking

We offer 9 to 5 non-stop banking services at our cash counters (for Pak Rupee transactions only)

o 9:00 A.M to 5 P.M (Monday to Thursday)

o 9:00 A.M to 12:30 P.M & 3:00 P.M to 5:00 P.M (Friday) o 9:00 A.M to 12:30 P.M (Saturday)

 Wealth Management :At JS Wealth Management, we strive to combine the best of both worlds for you independent, personalized products and services with our financial strength and resources to provide a complete range of wealth-building solutions, most appropriate to your individual needs.

We appreciate that each investor is unique. Not only do our clients have different goals and needs, the role that investing plays in their lives can be very different. Some like total control over their investments whilst others like to work closely alongside a trusted advisor when making their strategic investment decisions. Then there are those that like the day-to-day involvement, but dont want to deal with the paperwork associated with the management of their portfolios.

Our Wealth Management Services are for individuals looking to create, preserve and grow their wealth with the right investment solutions customized by a team of professionals. So, no matter where you are on your pathway to success, how experienced an investor you are, or how involveSd in your investment decisions you want to be, we have a service to suit your needs.

As part of our Wealth Management Services, our product lines are divided into the following:

1. Bancassurance

JS Banks bancassurance products provide you great value on your savings, not only in form of higher returns but also an inbuilt insurance coverage to protect your family from any unforeseen events in life. We offer you unit-linked investment and life assurance products in partnership with EFU Life Assurance Ltd., the largest private sector life assurance company in Pakistan. The products combine the benefits of investment plans with life assurance, enabling you to grow and protect your wealth at the same time. JS Bank currently offers the following bancassurance products. o PehlaQadam o RoshanKal

2. Mutual Funds

As part of mutual fund services, we offer you advice on how to maximize your returns by investing in the best performing mutual funds in each class. From equity funds, where you look for growth and capital appreciation to income funds for capital preservation, we can help you select the right mix to suit your investment needs - because at JS Bank, we think wealth.

 Investment Banking
JS Banks investment banking group has been the pioneer of numerous landmark transactions brought to the domestic capital markets. The groups legacy dates back to the 90s through a

closely held partnership with the then eminent Bear Stearns. More recently, the investment banking group has been an advisor and arranger to

Pakistans first ever local currency Islamic Sukuk First ever subordinated TFC issue in Pakistan First 10 year corporate bond First TFC issue with a conversion option First perpetual bond First commercial paper First floating rate TFC issue

With a precedence of both volume and innovation in transactions, for some of the largest corporations in the country, the group continues to offer market-leading investment banking and ancillary services as an integral part of JS Bank. We have an impeccable track record of successfully executing a wide array of large capital transactions, often under challenging economic and time considerations.

Task Performed

For the duration of my internship in JS BANK, I worked in remittances dept, cash dept, account opening, and Customer Service Office department. I successfully completed all the task/duties that were assigned to me.

Knowledge Gained at the Organization

y This internship viaduct a fissure between university learning and the operational world, allowing me to practice the roles, opportunity and behaviors of the effective world.

y Internship is a very advanced way to gain work experience and look great on a resume. In addition, knowledge gained from internship can be used in our coursework, research, and education. y I came to recognize about my strengths, interests, weaknesses, decision making skills, problem solving skills and abilities to contract with customers and work under anxiety and pressures. This internship program helped me masses in mounting my confidence. y I gained experience in order to manage my time properly. y Internship helped me to gain good communication skills that facilitate me to communicate effectively with others. Effectual communication engages the choice of the best communications channel, the technical know-how to use the channel, the presentation of information to the target audience, and the skill to understand responses received from others. Self-development, interpersonal skills, mutual understanding, mutual cooperation and trust is also important to set a complete channel of most effective and winning communication skills. y I also learned to work in a diverse environment I Understood the cultural influences each associate brings to the workplace. y I identified issues and concerns of colleagues who feel they are "walking on eggshells" in a multi-cultural environment. y The internship made me learn the rules, set of laws and policies followed in the banking sector of Pakistan. y I came to know about resolving confusions and misunderstandings during inter and intra departmental deliberations

Relationship of My BBA Knowledge with the Internship

Internship is an integral part of studies and especially for the purpose of business administration. It enabled me to apply my knowledge that I gained during my span of study in university. The subject of organizational behavior is accurately relevant in the organization environment it was helpful because the first step that anyone takes in the organization is to adjust in the working environment. The subject of communication skill also proved to be helpful as it helped to communicate within the organization. So my studies positively helped me on the internship and highly linked or associated to job. During my internship I also learnt how department coordinates the actions amongst departments as I had learnt during my BBA degree. .

Before my internship I learnt about functioning with different people and team structure during my 6 semesters of BBA which helped me a lot when I started my internship as I knew how to exchange a few words with different people and how to work with them as a team and how to resolve confusions and misunderstandings in a courteous and modest manner. And how to embark upon the problems of customer. The internship also helped me to work in a diverse environment it help to interact with people with different back grounds

Weekly Learning

 Week 1:On my first day of internship I was asked to report to Sir Adeel Ahmed shah, operations manager as well as my supervisor and Sir Syed Naeem Ahmed, (Branch manager). They gave me a brief overture of the bank and introduced me to the staff of the bank and then I was referred to work with Maam Sania. Every internee is rotated among the banks departments and so was I. This rotation is done in order to have general concept regarding banks functions and internee can gain knowledge and experience of all the departments. In this rotation the stay in department is habitually a week. I was given with the bank manual, forms and all brochures to study.

In the first week  Read account opening form. I thoroughly read the whole form and the terms and conditions for opening an account.  After that I was asked to read all the required forms that must be attached with an account opening form  observed essential operations of remittance (transfer of funds) department  Observed other operations e.g. PO (Pay Order), DD (Demand Draft)  Learnt about account to account transfer  Read schedule of bank charges

 Week 2:-

In my second of internship sir Naeem gave me a daily lecture about different types of account e.g. current account, saving account etc. and procedure for opening different types of account like individual account, joint account, company account.

The following are the procedures of opening different types of account that I learnt

Individual Account

When a single man or woman opens an account in his or her own name and has the right to operate, it is called individual A/C.

Account Opening Procedure:Account opening form  Title of Account Title of Account should mention the name of the person who operates the account.  Fathers / husbands name  Address/alternate address  Contact number  CNIC/ Passport no  Country of residence  Nationality  Signature of applicant

Special Instructions: At the time of opening the account clear and specific instructions should be obtained regarding the nominee of the account holder means after the death of the account holder who will operate the account.

Documents:-

 SS cards  Undertaking form  Call report  KYC form  Account opening checklist  Computerized national Identity Card.  Proof of Income if he / she is a salaried person then the pay slip or salary certificate of that person.  College/ university identity card or fee bill if he/she is student

Joint Account These are the account of two or more persons

Account Opening Procedure:Account opening form  Title of Account

Title of Account should mention the name of the person who operates the account.

 Fathers / husbands name  Address/alternate address

 Contact number  CNIC/ Passport no  Country of residence  Nationality  Signature of both applicants Special Instructions: At the time of opening the account clear and specific instructions should be obtained regarding the nominee of the account holder means after the death of the account holder who will operate the account.

Documents:  SS cards  Two Undertaking forms  Two Call reports  Two KYC forms  Two Account opening checklists  Computerized national Identity Card.  Proof of Income if he / she is a salaried person then the pay slip or salary certificate of that person.  College/ university identity card or fee bill if he/she is student  Source of income if she is a house wife

 In this week I opened joint account of mine and my mother. It was a learning process. I did a lot of mistakes while opening my own account but in 2,3 three days I was successful in opening this account

Sole proprietorship account This is a type of business account when the owner of the firm operating singly an in his term name. Requirements: Company stamp  Declaration of proportion companys letterhead  NIC copy  Sign on AOF  Sole proprietorship decaration

 Week 3
In the third week I was referred to Miss Asma Tahir (CRO) where I worked with her as a customer service officer for three days and performed the following activities

y y y y

Attended telephone calls Attended client inquiries Received ATM forms Deal and issued ATM cards

Issued the bank statement of customers

On the 4th day I moved in place with Mr. Ajmal Raja (R.M) and performed the following activities I took guidance from SIR to how to open accounts with the customers

y y

Opened three accounts Verified all the important doc that were essential for the account opening under the supervision of Miss Asma and Sir Ajmal

issued check books to the account holders

In the week 2 and 3 I got to know about more professional work department

in the account opening

 Week 4
In the 4th week I worked in the remittance department with Miss Asma and Miss sana where i learned about the meaning and procedure of remittance

Remittance is transfer of funds from one place to another or from one person to another.

A Remittance is an important service provided by banks to customers as well as non-customers. Since it is not a free service it is a source of income for the bank. Two parties western union and express money are involved with JS bank. JS Bank acts as an agent between sender and the receiver. Only receiving money option is there in JS.

In this whole week I deal with lots of customer and learned that how to deal with different types of customers. I also came to know that lots of patience is required to deal with customers.

Procedure of payment:WESTERN UNION PAYMENT INFO MTCN NO: SENDER COUNTRY: SENDER S NAME: AMOUNT: PHONE NO : ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

The western union is a counter payment which means that the sender and receiver of the money do not need to have an account with JS bank. The procedure followed by the remittance officer in this context is as follows. The person who wants to receive money is given the western union money transfer form. The person fulfills the following details on the form  MTCN (Money Transfer Control Number). It is a unique number which is given to the person remitting the money abroad by the money exchanger of that particular country  Sender country  Senders name  Amount in PKR ( approximate account)  Receiver contact number

y y

 When the customer completes the form i asked for the photocopy of the valid ID card then I entered that MTCN number in western union software which is installed at JS system. After making the entries, the print out of the form is taken then receiver sign two forms (one form is for bank records and one is customer copy) and receive the money. IN the same week i was also told about how to issue a term deposit.

 Week 5
In this week I was moved in the cash department and worked with Miss Sana and Mr. Rashid. They also deal with clearing process and worked with them in this cheque clearing process. Before discussing it is necessary to know what is clearing The process by which cheque exchanged between the collecting and paying bank and the ensuing financial settlement is called clearing This facility is provided by NIFT on the behalf of SBP for offsetting of cross obligations between the different banks. Clearing is of two types  Inward clearing  Outward clearing

Inward clearing:When cheques of our branch are presented to us for clearing by the NIFT. Cheque to be honored by bank. Outward clearing:-

The cheque of other banks, which the accountholder deposit in their accounts is, sends for collection.

In this week I also did  Account to account transfer payment  Make entries of cheque books in registers  Make entries of pay orders  Issue ATM cards and cheque books  Issue pay orders

Week 6 :This was my last week in the bank. This whole week I worked as a Banker as it was a very good experience for me. All my colleagues started trusting on me that I will not do any major mistake because I was working there for last 5 weeks. Customers also started knowing me. In this week I worked in all the departments and I deal with different customers.

Conclusion
JS Bank is geared to direct the requirements of the customers through assets management by offering an extensive array of products and services and building an association with the client based on obligation, trust and reliability. Inventive speculation Bank has guaranteed complete customer enchantment, living up to its image Its anticipative banking procedures has the ability to estimate the customers desires well at the forefront of real times forms the vital component in value based services to efficiently reduce the gap between potential and deliverables. The solution to success of any organization lies with its people. No doubt, inventive Investments exceptional family of employees will be more enthusiastic and thrilled to provide the discriminating customers with professionalism and intensity .The internship is a key component in the industrial inscription student's specialized and professional preparation. And the internship report is a key factor in the internship experience and knowledge. It is through writing the report that the maturity and specialized experience that I have gained as an intern becomes fully

realized. It is through the report that I exercises my critical and analytical faculties and demonstrates newly found skill and identity as a professional conversationalist.

Recommendations

After working with JS Bank for six weeks, here are some suggestions to get improved its work quality performance

Board and senior management participation is necessary for its efficient and effective procedure.

y y

JS should regularly maintain and update its framework. Employee relationships at JS could be escalated up by keeping the job motivating. It would make time go earlier. It also helps making the employee challenged. If the employees get uninterested they will pay less attention to their duties

There must be a periodic evaluation of the procedures to insert the new thoughts and to take away the inappropriate ones in order to line up the commerce with established trends in the banking industry.

If possible JS should work out for flexible program or system for employees to leave an hour early or come in an hour late on certain.

JS should start programs to raise client monetary literacy and advance the intelligibility of information made available to them. Moreover customer fortification regulations should be included in the system to maintain loyal customers to give surety long lasting profits