Almighty Allah is very Kind, Merciful and Compassionate.

His benevolence and blessings have enabled us to accomplish this task. Dedicated To: Our dearest Parents and Respected Teachers who motivate and encourage us in every aspect of our studies and a few Special Friends who have been supporting and cooperating with us to accomplish this task. Our special thanks to marketing team of Meezan bank who helped us in making this effort. (GROUP MEMBERS)

TABLE OF CONTENTS:

1. Executive Summary As per the requirement for the course of PRINCIPLES OF MARKETING, We visited Meezan Bank, JINNAH AVENUE Branch ISLAMABAD. This report is based on the experience and knowledge, which we got from visits at Meezan Bank. First of all we have discussed about the concept of Islamic banking according to our religion. We have discussed the goals of Islamic banking, a n d I s l a m i c t h e o r y . T h e n there is the history of Meezan bank, its origin and basics, vision and mission statement, the corporate values and the organizational structure. The company was incorporated as Meezan Commercial Bank limited in Pakistan on October 09,1991, Meezan Bank Commen ced (begin ) to operat ions in Apr il 1992, as a public limit ed company. The bank is listed on the Karachi, Lahore and Islamabad Stock Exchanges and the initial public offering was over In Basic functions of Meezan Bank subscribed by 16 times. In first part of the report we have discussed about the introduction of meezan bank. Then we have discussed the marketing processes being followed by meezan bank and different kinds of services being offered to its customers to capture value. Then we have discussed different kinds of environments affecting the performance of meezan bank. In next part of report we have discussed the segmentation and targeting of consumer market by meezan bank. Then we have given a brief overview of different policies of marketing related to meezan bank.

In last section of report we have discussed different kind of services development strategies being used by meezan bank.

3. INTRODUCTION: Meezan bank is the first Islamic bank and is therefore recognized as one of the pioneer banks that promote interest free banking activities all over the country. The bank has de veloped an extr aor di nary resear ch and deve lopment c apabi l it y by co mbi ni ng invest men t bankers, commercial bankers, Shariah scholars and legal experts to develop innovative, viable, and competitive value propositions that not only meet the requirements of todays complex financial world, but do also with the world-class service excellence which our customers demand. The story begins with the incorporation of Meezan Commercial Bank limited in Pakistan on October 09,1991, Meezan Bank Commen ced (begin ) to operat ions in Apr il 1992, as a public limit ed company. The bank is listed on the Karachi, Lahore and Islamabad Stock Exchanges and the initial public offering was over subscribed by 16 times. i. Companys PROFILE

1) Brand: Meezan Bank Limited, a public listed company, is the first and largest Islamic Bank in Pakistan. In Pakistan Meezan bank is one of the fastest growing bank. Having the largest branch network and product range, Meezan Bank takes the responsibility to establishing a stable and dynamic Islamic

banking system replete with dynamic and cutting-edge products and services. Meezan Bank aims to fulfill its prime objective of providing customers satisfaction and convenience, within an atmosphere and Islamic culture. 2) Their Vision: Vision of Meezan bank is to establish Islamic banking as banking of first choice serve, the implementation of an equitable economic system, providing a strong foundation for establishing a fair and just society for mankind.

to

3) Their Mission: Mission of Meezan bank is to be a premier Islamic bank, offering innovative value-added products and services to our customers within the bounds of Shariah under one roof, while optimizing the stakeholders value through an organizational culture based on learning, fairness, respect for individual enterprise and performance. 4) Their Service Mission: Meezan bank decided a standard of services to develop a committed service culture, which ensures the consistent delivery of our products and services within the highest quality service parameters, promoting Islamic values and ensuring recognition and a quality banking experience to our customers. 5) Banks Strategy:

Through implementing aggressive strategic and tactical initiatives on the side of consumer banking. With an aim to fulfill its prime objective of providing customers accessibility and convenience, within an atmosphere and Islamic culture of dedicated service and recognition of customers needs.

5) Board of Directors: The Board of Directors of Meezan Bank comprises of:

Sheikh Ebrahim Bin Khalifa Al- Khalifa (Chairman) Abdullateef A. Al-Asfour Rana Ahmed Humayun Mohammed Azzaroog Rajab Ahmed Abdul Rahim Mohamed Alaa A. Al-Sarawi Mian Muhammad Younis Mohammad Abdul Aleem Irfan Siddiqui (President & CEO) Ariful Islam (Chief Operating Officer)

6) Shareholding:

Shareholders

Rs. in% million Noor Financial Investment Company, Kuwait 3,944

49.11

Pakistan Kuwait (Pvt.) Limited

Investment

Company 2,409 30.00

Islamic Development Bank, Jeddah 749

9.32

Others

928

11.57

Paid up Capital

8,030

100 %

ii. WHY MEEZAN BANK USING RIBA FREE (INTERESTFREE) BANKING SYSTEM? First of all we have to know that what RIBA. And why it is prohibited in Islam. 1) Definition of Riba: The word Riba means excess, increase or addition, which correctly interpreted according to Shariah terminology, implies any excess compensation without due consideration. This definition of Riba is derived from Quran and is unanimously accepted by all Islamic scholars. is

2) PROHIBITION OF RIBA IN QURAN: In QURAN riba (interest) has been prohibited on many places. Some of the references are as follows.

O you who believe, you shall not take riba, compounded over and over. Observe God, that you may succeed. (Quran 3:130 The riba that is practised to increase some people's wealth does not gain anything at God. But if people give to charity, seeking God's pleasure, these are the ones who receive their reward many fold. (Quran 30:39 That they took riba, though they were forbidden and that they devoured mens substance wrongfully We have prepared for those among men who reject faith a grievous punishment (Quran 4:161 From the above explanation we got that why Muslims should choose Islamic banking system. To fulfill this need Meezan bank came into being to provide Islamic banking system.

THE DISTRIBUTION OF TASKS INSIDE THE BANK In meezan bank, there are to kinds of staff working different kinds of functions. These are Front office staff Back office staff FRONT OFFICE STAFF

Front office staff deals directly with customers and perform routine functions i.e. receipts and Payments of cash online funds transfer deposits of cheques etc BACK OFFICE STAFF This staff performs tasks related to the long term interest of customers. All the functions related to the issuance of loans, opening of accounts, car financing, house financing and other major functions are performed by back office staff.

The system used by meezan bank to record day to day transactions in meezan bank the system used to record daily transactions of customers is named as Islamic banker. This program contains all necessary features to perform daily work related to the accounts of customers. This software program is being used in all branches of meezan bank. All enteries related to the customers are entered in this program on daily basis. This program has the following features and characteristics. There are five sections on the page to enter the information related to the account of customer. These as follows

key features of system

the system is used to do routine tasks related to the daily transactions of customers. All kind of processes are performed in this system . this system also enables the operator to access some other information related to the account holders. The operator can get quick an instant access to every kind of details he wants. This system is also used to do some other tasks. For this purpose the system have some specfice tasks and operations. These are as follows Account mantanance This portion of system contains all the details of customers. This feature gives the basis information of the customers i.e. name, address, date of dirth, CNIc etc Inward clearing This part of system is used to clear all the cheques issued by the customers. The bank clears all the claims of other banks and record these transactions in the system. This includes all kinds of payments to be made to the other banks. It also includes the claims of other branches and payments in foreign currency accounts. Outward clearing This part of system works opposite to inward clearing. All the cheques deposited y the account holders are entered in this portion. The bank make its claims to other banks and other branches as well and records the transactions in this section.normally it takes two to three days in process of clearing of cheques. Cash posting

Cash poating section is used to record the cash inflow and out flow in the bank. All types of cash payments made daily are recorded in that section of system. Whenerver cash is received by the banker credits the account of the respective customer and when the cash is paid to the customer, the respective account is debited. Bank has to mantian a specifice amount of cash to meet daily requirements of customers. Transfer posting This part of system is used to record daily expences of bank. All kinds of day to day expencesare recorded in this portion whether they are rekated to customers or to the bank. For example All kinds of pety expences Stationary expences Printing expences Refreshment expences

Cash supervision In the bank, there are supervisors who control different functions and processes. Unlike others, there is a cash supervisor who controls the issuance of cash. So cash supervision option is used by cash supervisor to make enteries and adjustments. The supervisors make enteries in that head on daily basis and updates this head of account. Transfer supervision The transfer supervision option is used by the bankers to handke the enteries of funds transfer to other banks. All enteries regarding transfer of funds are recorded in that portion of syatem.

Quick display Quick display option is used by bank to get instant details about the account of customer. This feature enables the banker to know aout the current standing of customer and to know about recent activities of client. Quick display option gives a complete record of all recent transactions. This feature helps banker to prepare monthly bank statements of customers. Quick display has the following parts

1 Account ID this part of system is used to enter the account number of the customer. Whenever a transaction is to be recorded, first of all the account number of the customer is entered in the system. This part fo system also enables the ooperator to verify the account number of the customer. 2 Print ID the second part of system is print id. This section of system is used to to enter the serial number of the supporting documents. All reference numbers of vouchers, receipts, cheques all other documents are entered in that section.

3 description the third section of system is description cilumn, in this part of system the detiel of transaction is recorded any the banker. The supporting details of transactions are recorded in that section. For example when profit of customer is to be credited in the account of customer , the description is written as monthly profit.

4 currency in foruth part of swction, the type of currency is written by the operator. The currency may be in rupees, dollars , pound sterling etc

RECORDING OF ALL EXPENCES In meezan bank all the expences are recorded under proper heads of accounts.the records of these expences are mantianed on daily basis and regularly updated. Following are the heads under which the expences are recorded. Depreciation expence

DEPRICIATION EXPENCE As we know that depreciation is the gradual decrease in value of an asset due to its wear and tear and obsolesnce, so meezan bank maintain different kinds of depreciation expence accounts. Following are some kind of depreciation accounts mantianed by meezan bank DEPRICIATION ON FURNITURE DEPRICIATION ON OFFICE COMPUTER DEPRICIATION ON MOTOR VEHICLES

Accumulated depricaition Meezan bank record the accumulated depreciation on different kinds of assets. These accounts are updated on regular basis. Accumulated depreciation is credited in the

books of accounts. The entry for accumulated depreciation is recorded as DEPRICIATION EXPENCE A/C **** ACCUMULATED DEPRICIATION A/C **** Following are some accumulated depreciation accounts mantianed by bank Accumulated Accumulated Accumulated Accumulated Accumulated Accumulated Accumulated depreciation depreciation depreciation depreciation depreciation depreciation depreciation on on on on on on on furniture office machine computer hardware motor vehicles IJARAH IJARAH CAR IJARAH COMMERCIAL

PREPAID EXPENCES Meezan bank records all the expences paid in advance under the head of prepaid expences. For this purpose, there are separate heads of accounts are used for recording these expences. The entry for payment of prepaid expences is recorded as PREPAID EXPENCE A/C **** CASH A/C ****

Following are some prepaid expence accounts which are maintained by meezan bank. Prepaid Prepaid Prepaid Prepaid Prepaid Prepaid RENT BANK PREMISIS ADVERTISEMENT INSURANCE PREMIUM VEHICLE INSURANCE SECURITY CHARGES SUBSCRIPTION

Prepaid INSURANCE CAR IJARAH Prepaid INSURANCE DIMINISHING MUSHARIKA RETURN ON SAVING ACCOUNT There are different kind of deposit accounts being operated by the bank. Savings account is used to receive deposits from customers. The bank has to pay a return(profit) on these accounts. The saving accounts may be kept in any currency. The entry for crediting the profit on saving account is made as RETURN ON SAVING A/C **** CUSTOMER A/C **** Following are the kinds of saving accounts kept by bank RETURN ON SAVING A/C -PKR RETURN ON SAVING A/C -USD RETURN ON SAVING A/C EUR PROVISIONS FOR BADDEBTS Meezan bank issues loans to many clients. There is always a risk of becoming these debts as baddebts. For the purpose of security, the bank keeps some portion of its income as provisions for baddebts. The entry for recording baddebts is written as BADDEBT EXPENSE A/C **** PROVISIONS FOR BADDEBTS A/C **** Following are the provisions been kept by meezan bank GENRAL PROVISIONS FOR BADDEBTS PROVISIONS FOR BADDEBTS-CAR PROVISIONS FOR BADDEBTS-HOUSING

RECORDING OF ALL INCOMES Meezan bank receives the deposits of clients and invests these funds in different fields of business. The profits earned

on these investments is recorded as the income. Following are some heads used by meezan bank to record these incomes.

ACCRUED PROFIT Meezan bank make investments in different fields of business. The receivable profit on these investments is recorded under the head of accrued profit. All receivable profits are recorded under separate head of investment. When accured profit is received y the bank,the entry for accrued profit is recorded as

CASH A/C **** ACCRUED PROFIT A/C **** Following are some accrued profit accounts maintained by meezan bank. Accrued Accrued Accrued Accrued profit profit profit profit on on on on MUSHARIKA FINANCING HOUSE FINANCING INLAND BILLS PURCHASED EXPORT FINANCING OWN

INCOMES RECEIVED IN ADVANCE Meezan bank collects some amount from the customers for the purpose of future financing. Before issuing some finance to the customers or making investiments on some future date. Bank receives some amount of cash from the customers. This amount is known as advance income. The entry made for receipt of cash in advance is made as follows.

CASH A/C **** INCAOME RECEIVED IN ADVANCE **** Following are the different kinds of incomes received by the bank in advance. ADVANCE AGAINST FUTURE CAR IJARAH ADVANCE AGAINST FUTURE IJARAH-CONSUMER ADVANCE AGAINST FUTURE IJARAH CORPORATE

CHEQUES FOR COLLECTION Cheques for collection are all the cheques which are deposited by the account holders.these cheques can be in any currency. The bank make a proper record of all these receivable cheques under different kind of accounts. These are as follows CHEQUES FOR COLLECTION-PKR CHEQUES FOR COLLECTION-USD CHEQUES FOR COLLECTION-EUR LETTER OF CREDIT The customers have to deposit certain amount in bank in oreder to obtain LC(letter of credit). The letter of credit is a document used by intertional trade. The bank receives the amount from customers and issues them letter of credit. These proceeds are kept in different kinds of currencies. Following are some accounts used by the bank. EXPORT PROCEEDS-PKR EXPORT PROCEEDS-USD EXPORT PROCEEDS-EUR

POSTING OF ENTERIES All enteries that are made in computer program are automatically posted by that program in respective ledgers. The operator can get instant access to the ledgers of deposit holders. The program process all the information regarding every transaction of customer. Quick summary of accounts can be obtained any time by using this system. BALANCE SHEET AND FINANCIAL STATEMENTS After posting of information in ledgers, the system prepares the balance sheet and other necessary financial statements of the bank. The balance sheet shows financial position of bank after certain period of time. Balance sheet can be obtained easily y using this syatem. FINANCIAL STATEMENTS OF MEEZAN BANK Meezan bank prepares its financial statements according to generally accepted accounting principles and international accounting standards. These financial statements are disclosed to the general public after a certain period of time. Following are the financial statements of meezan bank.

PROFIT AND LOSS ACCOUNT

The profit and loss account of meezan bank is divided in to six sections. These are as follows. NET SPREAD EARNED

The first section of profit and loss account is NET SPREAD EARNED. This section includes Profit / return on financings, investments and placement Return on deposit and other dues expensed

NET SPREAD AFTER PROVISION This section of profit and loss account contains NET SPREAD AFTER PROVISION. This is obtained by deducting the following provisions form NET SPREAD EARNED. Provision against non-performing financing (net) Provision for impairment diminution in value of investment and

Provision against off balance sheet obligations Provision against amount due from financial institutions Bad debts written off directly

OTHER INCOME In this section of profit and loss accont. All the operating incomes are added and the balance is obtained. Following are some incomes which are under the head of other income. Fee, commission and brokerage income Dividend income Income from dealing in foreign currencies

Capital gain / (loss) on sale of investment net Unrealized loss on held for trading investment Impairment on reclassification of securities from held for trading to available for sale securities OTHER EXPENCES Other expences includes all the operating expences incurred in routine tasks of bank. These expences are adjusted against the incomes of the year. Some common other expences are Administrative expenses Other provision / write offs / (reversals)

After deducting expences form incomes PROFIT BEFORE TAXATION is obtained and after deducting tax PROFIT AFTER TAXATION is obtained. Then Un-appropriated profit brought forward is added to the balance and Profit before appropriations is obtained.

Meezan bank Limited Profit and Loss Account As on 31st December Description Rs.(000) Profit / return on financings, 12,290,54 investments and placement 9

Return on deposit and other dues 6,606,474 expensed Net spread earned 5,684,07 5 Provision against non-performing 1,330,057 financing (net) Provision for diminution in value of 46,862 investment and impairment Provision against off balance sheet 37,682 obligations Provision against amount due from 81,875 financial institutions Bad debts written off directly 1,496,476 Net spread after provisions 4,187,59 9 OTHER INCOME Fee, commission and brokerage 615,752 income Dividend income 321,898 Income from dealing in foreign 1,381,044 currencies Capital gain / (loss) on sale of 97,155 investment net Unrealized loss on held for trading investment Impairment on reclassification of securities from held for trading to available for sale securities Other income 59,181 Total other income 2,475,03 0 6,662,62

9 OTHER EXPENSES Administrative expenses Other provision / write (reversals) Other charges Total other expenses

offs

4,460,804 / 18.306 56,559 4,535,66 9 2,126,96 0 2,126,96 0 1,025,135 (332,808)

Extraordinary / Unusual Items PROFIT BEFORE TAXATION Taxation - current

- Prior years - Deferred

(214,955) 477,372 PROFIT AFTER TAXATION 1,649,58 8 Un-appropriated profit brought forward Profit before appropriations -

BALANCE SHEET The balance sheet of any business shows the true picture of that business. The balance sheet of meezan bank contains the following items.

ASSETS The first portion of balance sheet shows all fixed and current assets of bank. These are as follows CASH BALANCE WITH BANKS This head includes total amount of cash balance at the bank. The cash with all branches of bank is included in this section. BALANCES WITH OTHER BANKS This section includes the amount deposited in other banks. Banks normally keep their accounts with other banks, these accounts are used for the purpose of clearing. DUE WITH OTHER FINANCIAL INSTITUTIONS This section includes all receivables to be received by bank from other financial institutions. These are all the assets of bank. INVESTMENTS The investments are all the dimensions in which the bank has invested its resources and on which the profit is to be received.

FINANCING Financing includes all the loans and funds issued to the corporate and individual clients and these are to be received.

OPERATING FIXED ASSETS

Operating fixed assets includes all those assets that are under the possession of bank and are used in the routine business of bank. These includes Building Furniture Motor vehicles etc

OTHER ASSETS Other assets includes which are generally not long term assets. These assets are consumable in short period of time. Following are some other assets Stationary Printing material etc All these assets are added to get Total Assets of bank. LIABILITIES The liabilities section of balance sheet includes all of the liabilities of bank. Following are some of the most commonly used liabilities of meezan bank. BILLS PAYABLE Bills payable includes all the amounts to be paid by the bank. This can be any amount to be paid.

DUE TO FINANCIAL INSTITUTIONS Amount due to the financial institutions are all the claims of other banks on meezan bank or any amount to be paid to other banks.

DEPOSITS AND OTHER ACCOUNTS Deposits includes the total bank balance of all the customers. The amount deposited by clients in bank is an obligation of bank so it is recorded on liability side of balance sheet. OTHER LIABILITES Other liabilities include any other amount that is to be paid by the bank to outsiders. The total of all these liabilities brings TOTAL LIABILITES then these liabilities are deducted from assets to find NET ASSETS. TOTAL EQUITY Total equity is obtained by adding SHARE CAPITAL, RESREVES AND UNDISTRIBUTED PROFIT then SURPLUS OF DEFICIT ON REVALUATION OF INVESTMENTS adjusted in the balance. The TOTAL EQUITY is added in NET ASSETS to obtain the total of balance sheet.

Meezan Bank Limited Balance Sheet As on 31st December Description Rs.(000) Assets: Cash and balances with treasury 12,780,806 banks Balances with other banks 9,939,660 Due from financial institutions 10,511,855 Investments 54,966,907 Financings 54,195,163 Operating fixed assets 3,066,100 Deferred tax assets 342,175 Other assets including inventories 8,949,759 Total Assets 154,752,4 25 LIABILITIES: Bills payable Due to financial institutions Deposits and other accounts

1,767,370 5,829,296 131,070,32 8 Sub-ordinated loan Liabilities against assets subject to finance leases Deferred tax liabilities -

Other liabilities Total liabilities

5,005,440 143,672,4 34 11,079,99 1

Net Assets

Represented By Share capital Reserves Un-appropriated profit Total equity

6,982,550 1,380,010 2,377,563 10,740,12 3 Surplus/ (Deficit) on revaluation of 339,868 investment 11,079,99 1

THE PROCEDURE FOR OPENING AN ACCOUNT IN BANK In meezan bank there is an account opening department. This department deals with the account opening operations of bank. Account opening staff guide the customer about opening the account in bank. The bank follow certain procedures for opening account of client. These are as follows Account Opening Form The account opening department relates to open new accounts. Customers approach to Bank and an Account Opening form is given to him for completing and signing the same.

Completion of the Form

After completing account opening form in all respect and checked by the bank officer and properly signed by the customer which is also verified by the Operation Manager

Specimen Signature Card (SSC)

Specimen Signature Card is get signed form the customer and after verifying the information written their in, Customers are given account number and all these information is saved in the system.

Signature Difference Form

The signature of the client is taken on a signature difference form if his signature differs from the CNIC.

Computerized Checking

After filling in the form, the officer connected via internet to the NADRA website checks the record of his customers

social life. If the record of the person is ok, then the officer of the bank authenticates the record under his signature and stamp and send it to the Branch Manager

Account Number

After completion of all formalities, final approval for opening of account is taken form the Branch Manager and an account number is allotted to the customer and all the information is recorded in the computer. Account number is written on the cheque book requisition. After completion of all procedures, the bank prepares a letter and send it to the client at his postal address to pay gratitude to the customer.

Cheque Book Issuance

Cheque Book requisition for first cheque book is sent to Head Office. The cheque consists of 25 leaves and no charges are deducted from the account of client. Thereafter bank sends a recommendation for 25, 50 and 100 leaves with different prices and charges are deducted from the account of clients.

Procedure for Closing of an account When ever a customer wants to close the account, he fills up an account closing form and signs their in, account balance should be zero, approval is taken from the Branch Manager. specimen card is taken back and is attached with the form and account is closed.

THE PROCEDURE FOR ISSUANCE OF LOAN Meezan bank issue loan to suitable customers. For this purpose a procedure is followed by the management. The decision for issuance of loan is made on the basis of credit history and available information of the customer. Following steps are followed by meezan bank to issue loan. CREDIT WORTHINESS First of all meezan bank finds the credit worthiness of applicant by using ECIB REPORT (electronic credit information bureaue)this is a system operated by STATE BANK of Pakistan this system enables all bankers to know about the credit history of customer all habbits of customer regarding return of previous loans. It also tell the banker about all remaining loans of that applicant. DOCUMENTATION After knowing about the credit history of applicant, meezan bank access the documents of the client. The bank evaluate all the securities and pledged properties of the applicant in order to know about the feasibility of the loan to be issued. Then the banker verify all the evidences mentioned in the documentation. Following are the documents and evidences required by the banker Documents of property pledged initial deposit gaurintee refrence of existing account holder source of income of applicant expected rate of return place of investment account information ( 6months account satatement) internal documents for different case

ISSUANCE OF LOAN After satisfactory verification of all the documents, the management senctions the loan to the customer. The amount to be issued is decided by the committee depending upon the security provided and credit history of applicant.

MONTHLY STATEMENT OF ACCOUNT Meezan bank communaicate the details of all the transactions to the customers on regular basis. This statement enables the customers to know about details of his bank account. This statement contains opening balance and closing balance of the month. Following are the parts of bank statements. PERSONAL INFORMATION The bank statement contains all personal details of the client. At the top of bank statement. The name, account number, contact number and complete address of client is written. The bank statement is divided in to different kinds of columns these are as follows DATE COLUMN In date column, the date is written on which the transaction has tool place. This refrence enables the customer to know the transactions of his accounts in chronological order. VALUE COLUMN

In this column the date up to which the profit is to be paid or tax is to be deducted from the account of client. Bank credits profit is account of customer at a specifice rate. DOCUMENT NUMBER This column provide the serial number of cheques drawn or deposited in the account of customer. The bank keeps a record of all the receipts related to the account of the customer. PARTICULARS This section of bank statement shows the details and descriptions of accounts debited and credited in account of customer. All the titles of transactions occurring during the month are recorded in this column of bank statement. DEBIT COLUMN This column includes all the amounts being debited(deducted) from the account of client. Its normally includes; withdrawls, bank charges, tax deduction etc CREDIT COLUMN Credit column of bank statement includes all the amounts being credited (added) to accounts of customers. Its normally includes; deposits, profit on deposit and any other income of client. BALANCE The balance is amount remaining after deduction and addition of amount in account of customer. This column contains opening balance of account and the adjusted balance of account at the end of month.

SUGGESTIONS AND RECOMMENDATIONS

As for as we have observed during the visits to the company, the bank should improve the services given to the customers so that they may feel satisfied. Bank should increase its products in order to enhance its profit margin so that it may compete in the market. Meezan bank is paying less attention on advertising and promotional strategies in Pakistan. although the concept of Islamic banking is progressing in pur country but still there are many competitors of meezan bank in market. To cope with the increasing competition, meezan bank has to make its products up to date and according to demand of customers. Further more employees are the assets of the bank which must be motivated by the management of the bank. Employees should be given incentives in the shape of cash award, increase in pay, promotion etc. if the customers of the bank are satisfied and employees of the bank are hardworking as well as loyal, the bank will make progress by leaps and bounds. Management of the bank must try its best in order to satisfy the customers as well as motivate the employees.

REFRENCES USED 2 WWW. MEEZANBANK. COM.PK 3 WWW. SCRIBD.COM 4WWW. SLIDSHARE.NET 5WWW.WIKIPIDEA.COM