ACKNOWLEDGEMENTS

Innumerable thanks to Almighty ALLAH, whose unlimited and unpredictable

sources of help made me able to win honors of life. I also pay all my respect to last
Holy Prophet Hazrat Muhammad P!"H# who is a beacon to well wishes of
mankind and his faithful companions, who are fore$er a true torch of guidance for
humanity as a whole.
%he internship report in this manuscript was conducted under the kind super$ision of
Mr. Aman "llah, Lecturer, &epartment of !usiness Administration, 'omal
"ni$ersity &.I (han for his scholarly ad$ice, useful comments, untiring help,
continuous encouragement, kind super$ision and timely checking up of this
manuscript during the course of study. I am most grateful to acknowledgement his
help, cooperation, $aluable suggestions and sympathetic attitude throughout the
course of this internship.
I would feel it incomplete without saying thanks to my lo$ing parents and other
family members who supported and encouraged me throughout my educational
career.
SABIR ALI
i
PREFACE
In order to promote the creati$e spirit among the students, &epartment of !usiness
Administration 'omal "ni$ersity &.I (han pro$ides an opportunity of internship to
!!A Hons# students. %he ma)or aim of the report is to pro$ide the student an
opportunity to introduced them with both theoretical and bookish knowledge and co*
side the same in practical by studying, obser$ing, collecting and critically analyzing
and e$aluating the principles, concepts postulates methods and procedures they are
being taught during this placement at an organization, the studies conducted
obser$ation is made on data collected there.
%o fulfill this re+uirement I )oined Allied !ank Limited, which is one of the leading
financial institutions in banking sector whose role is praise worthy in strengthening
the economy of the country.
,inally my dedication will go to my maternal father and my brother who ga$e me
financial and logistic support at e$ery step of life.
ii
EXECUTIVE SUMMARY
Allied !ank Limited is the first bank incorporated on the soil of Pakistan. It was
incorporated in Lahore before independence in -./0 as Australasia !ank and was
renamed as Allied !ank of Pakistan Limited in -.1/ and Allied !ank Limited in
0223.
Initially it was known as Australasia !ank. %he banks initially paid up capital was
4s. 2.-0 million and the bank started its operations at Lahore under the
chairmanship of (hawa)a !ashir !ukhsh. In the first eighteen months, the !ank5s
total deposits rose to 4s. 2./6- million. !ank7s total assets at that were 4s. 2.310
million. In -.1/, under the !ank7s amalgamation scheme, three banks namely,
8arhad !ank, Pak. !ank and Lahore 9ommercial !ank were merged into Australia
!ank and renamed as Allied bank of Pakistan Limited.
%o become a dynamic and efficient bank pro$iding integrated solutions in order to
be the first choice bank for the customers. Allied !ank is the first Muslim bank,
to ha$e been established on the territory that became Pakistan. %oday Allied
!ank7s paid up 9apital : 4eser$es amount to 4s. -2.3 billion, deposit e;ceeded
4s. -/6 billion and total assets e+ual 4s. -12 billion.
%he bank did well in despite losing lot of its assets. !y the end of -.16 the bank had
-<= branches in >est Pakistan. In -.1/, the !oard of &irectors of Australasia !ank
was dissol$ed and the bank was renamed as Allied !ank. Allied !ank5s capital and
reser$es were 4s. -.303 !illion# and assets amounted to 4s. <1.36= !illion# and
deposits were 4s. 1=.26< !illion#.
Allied !ank is now introducing the ?Allied9ash@ 9ardA which is also known as
A%M card. Allied !ank also pro$ide a cost free help line to its customers by which
they can ask about any problem related with bank.
A current account is a running account which is continuously in operation. %he
customer can withdraw the current deposits without pre$ious notice to the bank. %he
bank does not pay any interest on these deposits and the bank acts only as the
custodian of money. 9entre Information !ureau 9I!# of the 8tate !ank of Pakistan
is another source of collecting information regarding the credit standing of the
customer.
iii
Credits are sanctioned either at the branch level within the
discretionary powers of the branch management or by the
competent authorities at the controlling ofcers in accordance with
the regulations of the central bank and credit policy of the bank.
The transfer of funds from one branch to another branch of the
same bank within or outside the city or upon other bank under
special arrangement for the payment to the benefciary through
mail/courier services is called mail transfer.
During the period of eight weeks internship, few fndings observed
include
%he bank needs to pay special attention towards o$erburdened employees,
which is a source of )ob dissatisfaction.
%he unprofessional attitude of employees bears a bad image on the
customerBclients.
%he building and working atmosphere of the bank needs strong correcti$e
measures.
Cmployees not ha$ing complete information of the schemes introduced by
A!L create hindrance in successful selling process.
&ue to absence of )ob rotation, hardworking and competent employees ha$e
been bored with monotonous tasks.
Low +ualified employees take long time to ad)ust themsel$es to banking
en$ironment.
Do proper training program for internees e;ists, due to which only clerical work in
taken form them. A!L should start &rop*bo; facility and install suggestion bo;es.
H4M department should be opened in the main branch, to facilitate the management
of human resource. ,or the purpose of ac+uiring new skills and eliminating
boredom, )ob rotation should be introduced.
i$
LIST OF ACRONYMS
A!L Allied !ank Ltd
M9! M9! !ank
D!P Dational bank of Pakistan
"!L "nited !ank of Pakistan
8!P 8tate !ank of Pakistan
H!L Habib !ank Ltd
!E&58 !oard of &irectors
8CFP 8enior C;ecuti$e Fice President
CFP C;ecuti$e Fice President
AFP Assistant Fice President
FP Fice President
4%9 4upee %ra$elers 9he+ue
A%M Automated %eller Machine
4, 4unning ,inance
&, &emand ,inance
9, 9ash ,inance
M% Mail %ransfer
%% %elegraphicG%ele;G%ransfer
&& &emand &raft
PE Payment Erder
E!9 Eutward !ills for 9ollection
I!9 Inward !ills for 9ollection
,&& ,oreign &emand &raft
,%% ,oreign %elegraphicG%ele;G%ransfer
,M% ,oreign Mail %ransfer
LB9 Letter of 9redit
$
HI% Hob Instruction %raining
$i