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Introduction
Muslim Commercial Bank is one of the leading banks in Pakistan with a deposit base of about Rs. 280 billion and total assets of around Rs 300 million. Founded in 1947, MCB soon earned the reputation of a solid and conservative financial institution managed by expatriate executives. In 1974, MCB was nationalized along with all private sector banks. This led to a deterioration in the quality of the Bank's loan portfolio and service quality. Eventually, MCB was privatized in 1991.
During the past fifteen years, the Bank has focused on growth through improving service quality, investment in technology and personnel, using its extensive branch network, developing a large deposit base and stable and management of nonperforming loans through better risk management processes.
Vision Statement
To be the leading financial services provider, partnering with our customers for a more prosperous and secure future.
Mission Statement
We are a team of committed professionals, providing innovative and efficient financial solutions to create and nurture long-term relationships with our customers. In doing so, we ensure that our shareholders can invest in us with confidence.
Our Values
These are the rules and principles that determine our behavior and how we interact with our clients and others:
1. Integrity
We are the administrators of public funds and serve our community with integrity. We believe in being the best at doing the right thing. We meet our responsibilities and commitments to our customers and our colleagues.
2. Respect
We respect our clients' values, beliefs, culture and history. We value equality and diversity of experience and education that our employees bring with them. We create an environment that allows each individual to succeed.
3. Excellence
We take personal responsibility for our role as leaders in the pursuit of excellence. We are a results-driven action-oriented organization where merit is the sole criterion for reward.
4. Customer Centricity
Our customers are at the heart of everything we do. We love the challenge of understanding their needs and aspirations, both realized and unrealized. We strive to exceed customer expectations through superior service and solutions.
5. Innovation
We encourage and reward people who question the status quo and think beyond the boundaries of convention. Our teams work together for proper and effective implementation of ideas and initiatives.
Departments of MCB
I Practices in Gulshan Market Branch was in the following departments. There was a shortage of personnel so some people were doing all right. Therefore, there was no overlap of functions.
However there were following departments.
Current Saving Department
Accounts Department
Remittance Department
Clearing Department
Cash Department
Advances
Customer Relation Department
Account Opening
Application Form
The client wants to open his account is needed to meet the manager or the second officer, who will give you an application form. "
Card Shows
As I mentioned about "card displays the signature." This card contains two signatures of an applicant, the applicant A / c no, A / C, branch code, the title of A / C, we attach an application form. Banker uses this card when you receive the check, which compares the customer's signature with the signature on the check to prevent fraud.
Manager has every right not to accept this contract if not satisfied with the data supplied by the customer.
Open an Account Register
• The records manager the necessary details in this record and assign a / c of this issue of a registration / c opening. This record is maintained for each type of account numbers and a / c are given in series. After opening a savings account and current data for each applicant is entered into the computer to maintain a secure and fully completed application form so you can be available when needed.
Cheque Book
Books · check is issued to the customer at the time. the bank accepts the A / C opening application form and letter of thanks received.
Types of clients
Individual
Only one person can use this a / c. We can say that is a personal or individual a / c.
The following are required to open it.
Customer signature on the back of the AOF.
NIC attached photocopy
Next mention of family members (candidate)
Set
In case of joint A / C, the applicant states that the number of people who operate the A / C. Instructions are given sets A / c so that the account is held by
Any one of us or survivor
In the first case, if one of the a / c holders died then the other can run the A / C individual.
Either / All of us together
In second case if one of the a/c holders died then the other partner can’t operate this a/c individually without having permission from the court.
Requirements
Sign of both customers on back of AOF
Sign on joint A/C # mandate
Name and A/C # of introducer
NIC copies of both members.
Mode of operation.
Partnership A/C
· For partnership a/c, along with the application form signature card.Other documents are also needed such as
Ø Partnership deed certified copy
Ø NIC photocopies of all partners.
Ø Partnership mandate for account signed by all the partners
Ø A letter duly signed by all the partners containing the operating instructions of the account also has to be taken.
· In case of addition or withdrawal of any partner a new agreement will be required.
Company Account
For company accounts following documents are required: -
Copy of certificate of incorporation
Memorandum of Association
List of Director’s
Copy of board resolution
Certificate of Commencement of Business
Copies of NIC of Director’s
Company’s Balance Sheet
Letter of Thanks
Bank prepares ‘Letter Of Thanks’ for the new customer. This act promotes good will among the customer.
Pay–In Slip
This slide is used to deposit the additional amount. The bank will accept the notes Pakistanis. All checks and other instruments must be crossed before they are deposited to the credit account. There will be no restriction on the number of withdrawals from the account. An account holder you want to close your account must deliver the unused checks to the bank. The current account is computerized, so that generate the statement to all holders of accounts at regular intervals. Make registration of Rs.50 are beard by the owner of the account if your balance is less than Rs.10000.
Closing of an Account
There are no. of reasons of closing an account. Some are listed below:
If customer desires to close his account
In case of death of one account holder
Bankruptcy of the account holder
If an account contain nil balance or not up to the requirement of rules.
Before closing any account, the bank will send a letter to the winery that informing him that his account will be closed. There is a need for a higher authority is the approval to close any account.
Payment of Cheques
The first job I was assigned to count the checks. It is considered as the simplest work in the consumer banking operations, but in reality is not so simple. Controls that are either for payment or deposit are the main points where the majority of fraud occurs. There are some points to keep in mind while analyzing a check for payment or deposit,
Ø Date of verification
Ø The signatures of the drawer
Ø signature of this
Ø Amount in figures and words
Ø Power Seal
Ø Account Number box
Ø Cross in favor of any other person
The controls are to be deposited in the accounts of customers for them a payment slip must be completed and the check is presented along with the slip. As the control is taken for deposit in the customer's account, a summary of receipts, prepares checks where the checks are entered according to their category, ie the transfer of delivery, dispatch or collection.
Call Deposit Receipts are also issued to customers, especially before the holy month of Ramzan. The reason is that customers convert their savings account savings account PLS. The reason for this activity is that customers want to take out there money from the accounts in order to jump to the deduction of Zakat. For this purpose, the CDRs were issued to two applicants and recipients of the same person.
The CDRs are issued to contractors for building departments to obtain offers from several buildings.
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