I have completed my six hebdomads internship in Emirates Global Islamic Bank Limited Arifwala. I tried my best to derive practical cognition from this chance. My study starts with the first chapter History of Banking in Pakistan 2nd chapter History of Emirates Global Islamic Bank Limited 3rd chapter Board of Directors. Bank Vision & A ; Mission statement shows the focal point of bank, the overall range and the ground of being. The aim is to get the better of and take advantage from the chances that are found in the market and the chances that happen to come in being due to the errors of rivals in the market, recognize the existent importance of client the chief aim is to accomplish customization through Islamic Banking.

Chapter # 1

History OF Banking IN PAKISTAN

Immediately anterior to independence, or coming of Pakistan, the countries that were to organize Pakistan had a really limited function of banking and industries, every bit far as Muslims Were concerned. There was merely one really little bank, Australian bank in Lahore, with a really few subdivisions in the countries around Lahore. It was established in 1942, in the garage of the houses of a man of affairs, who had some trade with Australia and some existent estate in Lahore, besides other concern involvement. However, there was one bank owned and operated by Muslims in Bombay. This was Habib bank limited established in 1941. The Quaid wished that there should be one more Muslim bank located in Kolkata. Thus, Muslim commercial bank was established in Kolkata, a few months before independency, under the ownership of Adamjees and some haven from lspahanis. Habib bank, which already had some subdivisions in Pakistan, moved its caput office to Karachi. Muslim commercial bank besides moved its caput office foremost to Decca and so to Karachi. Another, bank of Bahawalpur, was started in December 1947 in Bahawalpur State in West Pakistan. Before independency most of the banking were British Bankss, other were Indian. The oldest was chartered bank runing since 1863, and the other was Grind lays bank. The ulterior acquired and absorbed many other Bankss. Among the Indian Bankss, the largest bank, with the largest Numberss subdivisions, was imperial bank of India, established in 1919, which handled cardinal banking maps besides commercial banking, until a full mature cardinal bank viz. reserve bank of India was established in 1935. However, imperial bank continued to work as a addendum to cardinal bank because it had a really big figure of subdivisions. There were many little Bankss, owned by non-Muslims in the countries that constituted Pakistan. They rapidly moved caput offices and subdivisions to India. This inclination was so apparent that figure of banking offices declined from 631 to 195 between grand 14, 1947 and June 30, 1948, another of import landmark was the creative activity of big commercial bank, on the lines of, to supplement the State Bank.

Chapter # 2

HISTORICAL BACKGROUND OF EMIRATES GLOBAL ISLAMIC BANK

HISTORICAL BACKGROUND OF EMIRATES GLOBAL ISLAMIC BANK

Alhamdolillah, Emirates Global Islamic Bank Limited ( EGIBL ) , a dedicated Islamic Commercial Bank, commenced operations in February 2007. The bank has a web of subdivisions runing across all four states in urban and rural countries of Pakistan.

Incorporated in Pakistan and sponsored by taking investors from the United Arab Emirates and Saudi Arabia, EGIBL is a major participant in the quickly turning Islamic banking industry, offering Riba-free yet extremely competitory banking merchandises, based on the instructions of the Quran and Sunnah.

EGIBL believes in doing a positive part to society by continuously endeavoring to supply Halal options to conventional banking merchandises, complemented with superior service and cutting-edge engineering.

Chapter # 3

BOARD OF DIRECTORS

BOARD OF DIRECTORS

His Excellency, Sheikh Tariq Bin Faisal Al Qassemi, Chairman

Syed Tariq Husain, President & A ; Chief Executive Officer

Mr. Abdul Ghaffar Fancy, Director

Mr. Riyadh Muhammad Saeed Al Birdisi, Director

Mr. Raza Jafar Ali, Director

Mr. Ayham AL Yousuf, Director

Mr. Rudecindo Roca, Director

3.1 Vision

“ To go a accepted and extremely respected Islamic commercial bank offering a broad scope of Shariah compliant merchandises and services to a cross-section of society, achieved by adhering to stated values of invention, unity, dedication and service quality. ”

3.2 MISSION STATEMENT

“ Provide quality and efficient Shariah compliant fiscal merchandises and services to clients all over the state through an spread outing subdivision web, staffed by motivated professionals and powered by province of the art engineering ” .

Chapter # 4

Business Operations

Business Operations

4.1 ORGANIZATIONAL STRUCTURE / ORGANIZATIONAL CHART

4.2 BRANCH HIERARCHY OF EGIBL IN ARIFWALA

Operation Manager ( Officiating Manager )

( Asim Masood )

Cash Department

( Asif Shabeer Ghouri )

Remittance Department

( Jalal Waris )

Customer Relationship Department

( Anila Noreen )

Chapter # 5

BUSINESS PROCESS ANALYSIS

BUSINESS PROCESS ANALYSIS

During my internship I work with all the sections of Emirates Global Islamic Bank Limited Arifwala.

Company Profile

Basic Information

Company Name:

Emirates Global Islamic Bank Limited

Business Type:

Banking services

Product/Service

( We Sell ) :

Islamic Banking & A ; Auto Finance

Number of Employees:

10 PeopleA

Address:

47-D Zain Palace, Thana Bazar Arifwala

5.1 Departments

Account Opening

Finance

Cash

Operationss

Selling

Remittances

Foreign Exchange

Now we see the maps of each section working at each subdivision of Emirates Global Islamic Bank Limited of Pakistan.

5.1.1 ACCOUNT OPENING DEPARTMENT

Types of Histories:

Depositors can open the undermentioned types of histories with the Emirates Global Islamic Bank Limited of Pakistan: –

Current History

Salvaging History

Muslim Term Deposit

MPPA Account ( Mudarabah Premium Plus Account )

BBA Account ( Basic Banking Account )

Foreign Currency Account

A brief debut of these histories is given below.

Current History:

Current history at EGIBL is a best available option to cover with your twenty-four hours to twenty-four hours concern and personal banking demands with convenience and dependability. It is a cardinal to allow you retreat and lodge as many clip as you want.

Islamic working rule – difference from similar conventional merchandise

Emirates Global current history is based on Islamic rules of Qarz ( loan ) whereby the client is the loaner and the bank is the borrower. These financess are invested with extreme attention in Halal concern ventures merely. The financess are collectible to the client on demand as and when required with neither any add-on nor punishment. We at Emirates Global carry through our duty of guaranting that your difficult earned money remains Riba-free and you enjoy complete peace of head.

Levies

Fees and charges will be levied harmonizing to the prevailing Schedule of Bank Charges, whereas revenue enhancements and Zakat will be applicable harmonizing to Government ordinances and directives of State Bank of Pakistan.

Salvaging History:

Our Savingss account Mudarabah comprises of all aspects of an investing viz. income, security and growing. Net income is calculated on monthly mean footing and distributed on a monthly footing. So, if you are an single ( pupil, employed or run ain concern ) or a concern entity, reach us today and speak to one of our dedicated Relationship Managers for further inside informations.

Islamic working rule – difference from similar conventional merchandise

The Emirates Global economy history is based on the Islamic construct of Mudarabah ( Partnership ) . Under this agreement the client is the Rab-ul-maal ( Investor ) and the bank is the Mudarib ( Fund director ) . The sedimentation will be invested in profitable concern ventures which are legal and Shariah compliant. The profit/loss will be shared as per a pre determined ratio. As fund director the bank will be entitled to a portion of the net income, whereas net income distribution amongst the depositors and the stockholders will be made harmonizing to the weightages assigned at the beginning of each month to their investings. Through this profitable partnership you can bask halal net incomes on your nest eggs.

Mudarab Premium plus Account:

Are you serious about nest eggs? Are you looking for higher net incomes? If you have answered ‘yes ‘ to these inquiries so this history is for you. Our Mudarabah Premium plus Account is merely available in Pak Rupees where the net income is calculated on a day-to-day footing and distributed on a monthly footing.

Muslim Term Deposit Account:

EGIBL Mudarabah Term Deposit is a suited solution for clients seeking a regular income. It is the best tool for procuring your hereafter. Consult our Relationship Managers to help you in planing an investing program for you.

Basic Banking History:

In conformity with BPD Circular No. 30 of November 29, 2005, EGIBL besides offers the Basic Banking Account to its depositors.A This installation is targeted towards supplying an low-cost banking service to clients who are unable to keep a high balance demand.

5.1.2 FINANCE DEPARTMENT

Business Banking

At EGIBL, we remain devoted to supplying you with a scope of Shariah compliant yet extremely competitory merchandises to offer you halal options to conventional banking. We continuously strive to guarantee that your fiscal traffics are free from Riba ( involvement ) .

A broad scope of seamster made funding installations are on offer to suite the demands of SME and Corporate Banking clients. Under the supervising of our Shariah Committee our dedicated Relationship Managers will supply you halal solutions to carry through your concern demands. Our funding merchandises soon on offer are based on the rules of Murabaha and Ijarah and will provide to your funding demands related to working capital, trade and purchase of machinery and equipment. It is our committedness to set your values foremost, therefore supplying you with banking solutions that are in line with your beliefs.

Merchandises include

Local Purchase Murabaha

Murabaha funding against Imported Merchandise ( FIM )

Murabaha funding against Trust Receipt ( MTR )

Export Murabaha ( Pre-shipment )

Direct Ijarah

Sale and rent back Ijarah

Emirates Global offers non halt subdivision banking from 9am to 5:30 autopsy with individualized attending ( Excluding Friday & A ; Saturday )

Investing Banking

The spectrum of activities under the umbrella of investing banking at EGIBL offers Advisory, Asset and Investment Management services. Our investing banking squad strives to understand client ‘s demands and construct comprehensive and advanced Shariah compliant solutions which cater to the client ‘s unique concern demands.

5.1.3 CASH DEPARTMENT

The hard currency section is that through which all the grosss and payments of bank are made. Besides the bank ‘s hard currency record remains with this section. There are two types of books used in this section.

Cash Receipts Book.

Cash Payment Book.

Cash Receipt Book:

In which the teller records the entry when some one comes to lodge some sum. The client ‘s wage in faux pass and the cashier the sum harmonizing to the wage in faux pas, kind outs the notes, puts a signature, stomp it and record in his book. After stomping the faux pas the cashier returns the wage in faux pas to the client. Then client goes to the another bank officer, he once more record this verifier into his hard currency coil and returns one portion of the wage in faux pas to the client and keeps the other portion for the record.

Cash Payment Book:

When some client comes to the subdivision to retreat some sum from the history, after acquiring the item from sedimentation subdivision he goes to the teller, teller cheques his item and check which is referred to him from sedimentation subdivision. The teller makes to him needed payment and receives the item from the client. After entering all the checks in his book he returned the checks in to the sedimentation subdivision.

Books Maintained:

The followers are the common books, which are maintained in any subdivision of EGIBL.

Cash Book:

The exclusive intent of the cashbook is to enter the entire minutess done in each type of history daily. The shutting balance of hard currency is besides included in the cashbook. It is maintained with the aid of assorted types of verifiers and journals.

These verifiers and twenty-four hours books of different caputs are as follows:

Charges verifiers.

Suspense verifiers.

Payment order verifiers.

Term sedimentation verifiers.

Name sedimentation verifiers.

PLS journals.

Current journals.

Cash finance twenty-four hours books.

Runing finance twenty-four hours books.

Demand finance twenty-four hours books.

Foreign exchange twenty-four hours books.

With the aid of these verifiers assorted types of registries are maintained to enter day-to-day minutess done in assorted histories.

These registries are: –

Daily dealing study of PLS/ Current history.

Suspense registry

Charges register

Utility Bills

Emirates Global Islamic Bank Limited accepts the undermentioned types of public-service corporation measures:

Electricity Bills

Sui Gas Bills

5.1.4 OPERATION DEPARTMENT

In Emirates Global Islamic Bank Limited constitution section works for the care of different type of the disbursals and for the proviso of financess for different activities in the subdivision. The director of this section has two types of registry.

Charges account registry.

Suspense histories registry.

Charges Account Register:

In the charges account registry following histories are maintained:

Basic wage:

This history deals with the wages of the employees within that subdivision when bank have to pay the wage of any employee the sum of wage is debited to the charges account.

Allowances:

Under this caput different allowances are paid to employees. But these are attached with salary and paid with the wage.

Provident fund:

It is tax write-off from the employee ‘s wages, which is paid out at his retirement.

Medical attending

When some employees suffer from any disease the bank allocate fund for him and this sum is debited to charges history of the patient.

Honorarium to staff:

Those types of financess, which are non portion of salary, like fillip net income.

Staff public assistance:

To better the efficiency, the bank provides some particular installations and the fund is provided from the public assistance history. These fund are similar to honorarium fund.

Bonuss:

When the efficiency of employees additions and bank earn net income more so outlook so bank gives excess fillip to the employees. The proviso of fillip is done through fillip history by debiting to the charges account.

Liveries:

If the bank needs some uniform for some employees like couriers, the financess are provided from liveries account.

Suspense History:

When, some employee needs some progress sum for them. He can retreat that sum from suspense history, which is so adjusted, from his salary history. But the bank provides financess in progress within some bounds under this history.

5.1.5 REMITTANCE DEPARTMENT

Remittance is a major map of the bank. It is the transportation of money from one topographic point to another topographic point. The demand for remittal is normally felt in commercial life peculiarly and in mundane life by and large. By turn outing this service to the

clients the Emirates Global Islamic Bank Limited earns a batch of income in the signifier of service charges.

Emirates Global Islamic Bank Limited of Pakistan trades with the following type of remittals:

Demand Draft ( DD )

Mail Transfer ( MT )

Telegraphic Transfer ( TT )

Wage Order ( PO )

Demand Draft ( DD ) :

Demand bill of exchange is a written order given by the one subdivision of a bank on behalf of client to another subdivision of the same bank to a certain sum to the certain individual.

Mail Transfer ( MT ) :

It is the transportation of money from one subdivision to another subdivision of the same bank through mail service. In mail transportation there is no demand of advice as the sum is straight credited to the receiving system ‘s history.

Telegraphic Transfer ( TT ) :

This is the most pressing method of remitting the money from one topographic point to another topographic point. This method is used when the transmitter desires to direct desperately, in this instance the transmitter request the director of the subdivision to publish TT. Now this installation is non in usage.

Wage Order ( PO ) :

A wage order is a written order issued by the bank no its ain subdivision, drawn upon and collectible by itself to pay a specified amount of money to the individual. The intent of a wage order is to reassign the fund from one topographic point to another. It is normally non issued in favour of the parties of other metropoliss. Normally the wage order is issued for the local transportation of money from one individual to another or from the individual to any other

Department it is used for different intents. The intent may be the fixs of the subdivision or redevelopment of the subdivision.

5.1.6 FOREIGN EXCHANGE DEPARTMENT

It is the map to cover with client in foreign currency. Merely few subdivisions of EGIBL are allowed to cover in the currency other Pak rupee Arifwala subdivision is besides covering in the foreign exchange.

Chapter # 6

SWOT ANALYSIS

SWOT ANALYSIS

It is most of import for any organisation to cognize about its internal and external environment. For environmental analysis we use SWOT analysis. SWOT analysis provides complete information about company ‘s internal conditions and external factors like, markets, rivals, jurisprudence & A ; order, political and legal issues. SWOT analysis includes the analysis of companies ‘ strengths and failings in internal environment and chances and menaces in external environment.

6.1.1 Strengths

Investings are made in the concerns that are executable in conformity with the rule of Islam.

EGIBL is the Islamic Bank that is why people have full trust on it.

EGIBL is the first bank in Pakistan that provides an environment of centralised bank in all over the PAKISTAN, and is the taking establishment in utilizing the latest engineering.

Emirates Global Islamic Bank Limited has advantage of the sedimentations of authorities ‘s establishments e.g. Sui gas and WAPDA.

EGIBL has the separate agribusiness division for agricultural loan. This division has its ain finance secretary for operating this division. This map becomes the major beginning of income of EGIBL. Merely EGIBL is supplying this installation all over the Pakistan like other Bankss.

Emirates Global Islamic Bank Limited of Pakistan is besides runing foreign subdivisions.

The bank has besides the relatively adequate sedimentations all over the state.

Emirates Global Islamic Bank Limited of Pakistan is supplying different types of loans with no Mark-up bases to its employees. I.e. Car Loan, Motorcycle Loan, Computer Loan, House Building Loan etc.

Emirates Global Islamic Bank Limited of Pakistan has the safe progresss which increase the profitableness of the bank.

Bing the Islamic bank there are less opportunities of defaulter.

6.1.2 Failings

The really first failing of the bank is the centralised banking due to which the working of the full staff suffer severely

The other failing of EGIBL is that the staff is non competent to undertake and manage the modern engineering available and the employees are merely less experient besides, they have deficiency of accomplishments. Have non the relevant cognition of banking concern, instruction and professional accomplishments. Banking is experienced merely book maintaining merely.

Working conditions are good but are non contributing to make work.

Environment is unworldly and insouciant.

Employees are non difficult working and have no involvement in their work.

Employee behaviour is slightly apathetic with clients.

Customers are non being sponsoring the bank due to the fact of new constitution of EGIBL in Arifwala.

Work processs are clip devouring and decelerate.

By and large, the attitudes of the employees are non serious with each other and have professional green-eyed monster which is non healthy for the bank.

Bing a Islamic Bank, Emirates Global Islamic Bank Limited of Pakistan has to confront many policies by the authorities.

Lake of sophisticated cognition about computerized techniques that are emerging in Pakistan e.g. construct of on-line banking.

Bing Islamic Bank, Emirates Global Islamic Bank Limited of Pakistan has to confront many policies by the authorities.

Excessive regulations and ordinance for making the every spot work is non good to remain competitory in the banking concern.

6.1.3 Opportunities

EGIBL must develop the capablenesss to supply service with minimal bunco to be faced by the clients.

EGIBL must develop its human resource subdivision in each subdivision. It must be regulated and commence working of making consciousness among people of banking.

EGIBL should concentrate more industrial sector and agribusiness sector. They should supply fundss to the husbandmans both on short term and long term footing.

The bank by set uping new subdivisions in the foreign states can spread out its concern and gain more foreign exchange.

EGIBL can diversify its support base and earn foreign exchange by puting into capital markets of other states.

New strategies for sedimentations and fundss should be introduced on a regular basis.

Proper advertisement of the merchandises of the bank.

6.1.4 Menaces

With the transition of clip the other Bankss are presenting efficient information engineering subdivisions & A ; computing machine webs. Use of the modern engineering is modern engineering is common in EGIBL as compared to the other Bankss. But the people here are holding small acquaintance with the modern fiscal package ‘s available to the persons or workers at the bank. So there may be a clip semen when those Bankss would snap the market portion of EGIBL who are largely efficaciously covering with the modern fiscal package.

Bing the new bank it is frequently seen that the employees are non so much efficient and difficult working. When employees of some organisation are non so much difficult working finally that organisation will stay behind the rivals.

Employees are affecting so much in internal political relations & A ; anterooms among them, which disturb working conditions & A ; good will of the bank.

Lack of customization.

The competent employee of EGIBL may travel to other Bankss, as the wage in EGIBL is less than the wage offered by other Bankss.

The figure of Bankss increasing in Pakistan twenty-four hours by twenty-four hours and they are provided good client services as compared with the EGIBL, so it may lose its market portion in the hereafter.

6.2 Selling Scheme

Emirates Global Islamic Bank Limited launches ‘Sarparast Family Takaful Plan ‘ with Pak-Qatar Takaful. Emirates Global Islamic Bank Limited besides introduces many other merchandises clip to clip like Albait, Auto Ijarah, Rahnuma Travel Services and Sarparast. These Products makes it differ from other Bankss.

6.3 COMPETITIVE STRATEGY

Emirates Global Islamic bank Limited offering Riba-free which is extremely competitory scheme between other Bankss. The Emirates Global Auto Ijarah is a Shariah compliant car finance merchandise. EGIBL is the 1 of the Islamic Bankss in Pakistan with such services in the market.

Chapter # 7

Learning AS A STUDENT INTERN

Learning AS A STUDENT INTERN

I had passed a good clip in Emirates Global Islamic Bank Limited as an houseman. There was a batch for me to larn.

7.1 Duties

I was assigned under supervising of Mr. Jalal Waris. My responsibility was to seek and larn the overall on the job standards of organisation.

7.2 Accomplishments

I successfully carried out my work and observe nature of working and larn how it should be. I got awareness about all sections in organisation and larn their responsibilities.

7.3 NEW KNOWLEDGE ACQUIRED

During my internship, beside completion of my internship, I learnt how recognition is offered, how clients are captured, about the hard currency dealing round the state. I besides got knowledge about different histories and their process for opening. I work with every section of EGIBL that ‘s the ground I learn batch of cognition from my internship.

7.4 PROBLEMS ENCOUNTERED

During my preparation at EGIBL I observed some countries that need attending of the direction like:

There are a disproportional figure of seasoned bankers in the top direction who have the duty of doing strategic determinations. This think armored combat vehicle should besides include a sensible proportion of immature bankers whose mentalities teem with new originative thoughts, which might turn out to be priceless for Emirates Global Islamic Bank Limited. The top direction should instantly get down believing in footings of revolving the employees in assorted sections, as this transforms work force into human capital.

7.5 HOW INTERNSHIP WILL IMPACT MY CAREER

This internship at Emirates Global Islamic Bank Limited will turn out really of import for me during my professional calling. Because it was my first learning experience for working in an organisation. It will be really helpful for me to demo subject, difficult working and how work is done in any organisation. No uncertainty it will turn out a bright mark in my hereafter.

Decision

During my internship in Emirates Global Islamic Bank Limited I have learned a batch and my vision and practical exposure has broadened really much from my six hebdomads internship, concluded that banking sector is supplying a valuable substructure for the facilitation of whole community and for the acceleration of economic activities. In the banking sector, EGIBL is lending a batch at national. The usage of IT has opened new skylines for the banking industry and has changed the concern scenario to a big extent.

Further, I besides concluded that present concentration, full attention, analytical, descriptive and communicating accomplishments and histories related cognition are the cardinal requirements for working in banking industry as the banking universe revolves around the figures.

Anyhow, exactly talking this internship of six hebdomads is memorable period for me during which I availed the chance to boom my communicating accomplishments, Polish my capablenesss and abilities, upgrade my cognition about banking sector and broaden my vision and exposure towards practical life.

Glossary

Slangs or acronyms

EGIBL ( Emirates Global Islamic Bank Limited )

MPPA ( Mudaraba Premium Plus Account )

DD ( Demand bill of exchange )

PO ( Pay order )

MT ( Mail Transfer )

TT ( Telegraphic Transfer )

S.S Card A A A A ( Signature Specimen Card )

SBP ( State Bank of Pakistan )

CRO ( Customer Relationship Officer )