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Management Internship Report On Bank Alfalah Bank Limited (Islamic Banking)

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Internship Report Revised


Bank Alfalah Bank Limited (Islamic Banking)

Abid Plaza, 13 McLeod Road, Lahore








Virtual University Of Pakistan

Department of Management Sciences

M.A. Jinnah Campus, Defence Road, Off Raiwind Road, Lahore, Pakistan

 UAN: +92-42-111-880-880

Fax: +92-42-992-006-04

4. Dedication








This is dedicated to the people who have been instrumental in the successful completion of My Internship Report.

5. Acknowledgement

Apart from the efforts of mine, the success of my internship depends largely on the encouragement and guidelines of many others. I take this opportunity to express my gratitude to the people who have been instrumental in the successful completion of this internship.


I would like to show my greatest appreciation to Mr. Faseeh Ullah Sumbal. I can’t say thank you enough for his tremendous support and help. I feel motivated and encouraged every time I attend his meeting. With out his encouragement and guidance this project would not have materialized.


The guidance and support received from all the members who contributed and who are contributing to this internship, was vital for the success of the internship.


I am grateful for their constant support and help.

6. Executive Summary

This report is based on internship report in Bank Alfalah limited Islamic banking Abid Plaza, 13 McLeod Road, Lahore. It’s a famous and reputed bank of Pakistan providing world class service to customer. This report is based on the bank activities. Also contain marketing & competitive analysis with SWOT analysis, bank tariffs etc. it’s stated the activities which I performed during my internship in bank Alfalah limited.

The bank Alfalah is service oriented bank, performing numerous functions with different department. It’s also having very skilled, experienced and knowledge people.

I did my Six weeks internship, I worked in Remittance Clearance department and sales and service department.

Remittance department deals with DD, TT, and MT order etc. Sales & service department like deposit department provides various types of accounts to valuable customers. All the parties are getting benefit from these each and every person attach with banking sector. I done my internship in Islamic banking division it’s different from normal banking system. Bank Alfalah started Islamic banking operations in 2003. Some of the work that I did in these departments of Islamic banking division included collecting check, activity checking and making a customer’s basic information sheet.

Although there were no such a big problems found in the working of Bank Alfalah Islamic banking division, there were some troubles in instruction of human resources , inducement schemes and product innovation.

My recommendations surround workshops for human resources, job rotation and team working to find the ground-breaking products and scholarship programs for employees. Lastly Bank Alfalah Islamic banking division have a rapid growth in its activities by launching a wide range of product and service showing its presence in the country by opening new branches and in the future should keep this impetus and always struggle to become the best and world class bank.


7. Table of Contents


Bank Alfalah Limited (Islamic Banking)

MGMTI-619 Internship Report

Sr. No.




Title Page



Letter of undertaking



Scanned Copy of Internship Completion Certificate









Executive summary



Table of contents



Overview of organization



Organizational structure



Internship activity plan



Training program



Analysis of management function of organization



Critical Analysis



SWOT analysis









References and sources used





8. Overview of the organization


Bank Alfalah is limited banking company which started on June 21, 1007. It registers under company ordinance 1984. Bank is fast growing it has about 253 conventional branches with 4 sub branches and also 7 overseas branches, 60 Islamic banking branches and one offshore banking unit. Bank Alfalah is also register with stock exchange in list of Lahore, Karachi and Islamabad. Bank Alfalah is operating under company’s ordinance 1962.

The vision of Bank Alfalah Limited

Be a leader banking organization world wide by providing the inclusive range of financial services to all segments under one roof.

The mission of Bank Alfalah Limited

To follow Islamic banking in its favored strength that opened unfold its true economic possible result in wealth to our customer and commercial reward to our sponsors and as well as our employees.

Core philosophy

Our core values of sincerity, simplicity in customer dealings, creation innovation, superiority in customer service and our promise to be a liable business citizen pass through by website.

Head office Address

The bank’s registered office is at B.A. building, II Chandigarh road Karachi


Karachi Office:  

Bank Alfalah Limited,
Islamic Banking Group,
Finance Department,
23-C, Main Khayaban-e-Ittehad, Phase-II Extension, D.H.A. Karachi

Fax: (Finance) 021-32472289 - (Treasury) 021-35317701

Key Personnel

Aziz adil                                  Deputy General Manager-Finance               021-35513903

Junid Tauqir Bashir               Head- Treasury Middle Office                     021-35319826

Shahid Hussain                      Manager, Finance                                          021-35317729

Product Line:

  • Personal banking
  • Corporate banking
  • Consumer banking

Personal Banking;

In personal banking, Bank Alfalah Islamic banking division offering three types of personal accounts which are;

Personal Accounts:

  • Current deposit

Minimum balance of 10,000/- PKR is requiring for current deposit personal account. Its Zakat free account means Zakat is not applicable on this type of account, also not profit for this account.

  • Musharakah Saving deposit

Balance requirement for Musharakah saving deposit is 5,000/- PKR. Zakat is applicable and also profit share after 6 month according to tiered structure.

  • Musharakah Term deposit

Balance requirement is high 50,000/- Zakat and profit is same like Musharakah saving deposit after six months and according to tiered structure.

  • Remittances

Remittance facility is available globally in US Dollars, Pound sterling and in Euro.

  • Locker services

Bank Alfalah is offering the locker facility in selected branches which are in three types also small, medium and large.


Corporate Banking

In corporate banking Bank Alfalah is offering the following product line

  • Murabaha Finance
  • Trade Finance
  • Bank Guarantees



Consumer Banking

In consumer banking Bank Alflah is offering the following products and services.

  • Alfalah Musharakah Homes
  • Alfalah Car Ijarah
  • Alflah Hilal Card

Departments & Operation of Bank Alfalah (Islamic Banking)


Main Department

Main Operation

  • Cash Department
  • Clearing Department
  • Operation Department
  • Account & Finance Department
  • Car Ijarah Department
  • Musharakah Home Loan
  • Murabaha Financing
  • Trade Financing
  • Account Opening
  • Depositing
  • Lending
  • With-Drawls Of Money
  • Budgeting
  • Record Keeping
  • Clearing
  • Remittances Though Mail Transfer, Demand Drafts, Payment Orders
  • Locker Services
  • Establishing Letter Of Credit For Importers
  • Negotiating The Letter Of Credit Exports
  • Foreign Remittances Though Swift (Society For World Wide Inter-Bank Financial Telecommunications)
  • Foreign Currency Accounts Handling (in US Dollars, Pound sterling and in Euro)
  • Musharaka Home Loan
  • Murabaha Financing
  • Car Ijarah

Competitors of Bank Alfalah Limited

The following banks are the main competitors of Bank Alfalah Limited;


  • United bank Limited

Both the United Bank Limited and Bank Alfalah Limited are sisters

Companies because of ABU DHABI GROUP and there is always comparison between them.


  • Citibank

Citibank is because of a large number of first class service, Bank Alfalah is as well but it need to bench mark its product and service to a bank with standing to that of Citibank.


  • Askari Bank

Askari Bank is because of similarity in products and services and fairly similar in markup rates as well.


  • MCB Bank

Muslim Commercial Bank is because of its wide range of products and service and also with a large figure of account holders.



9. Organizational Structure

Hierarchy Structure of Bank Alfalah Limited


















Comments; The hierarchy structure of Bank Alfalah limited is pyramid/tall/hierarchical. Bank Alflah is organization structured in a way such that every entity in the organization, expect one, is subordinate to a single other entity. This is a dominate mode of organization among large organization; most corporations and governments are hierarchical organizations.



  • low number of subordination per supervisor
  • long chain of command
  • greater number of level

10. Internship Activity Plan

Bank Alfalah branch where I complete my internship is stated at Abid Plaza, 13 McLeod Road, Lahore. This branch of Bank Alflah limited is serving the customers honestly, completely and with prosperity, under the dynamic and reforming services of whole stall of this branch.


Bank Alfalah Limited (Islamic Banking)

The caring bank

Care makes us Bank Alfalah



This branch is total about Islamic banking in Pakistan banking sector following the norm of Islamic banking which are total based on the principle of Islamic economics. It is following an economic frame work in according with Islamic law/sharia’h. It also utilizing the guidelines present by Islamic economics. Islamic law prohibited RIBA (collection and payment of interest), trading in financial risk (gambling), investment in unlawful/HARAAM. Islamic finance has been gaining momentum world wide for almost the last thirty years. Number of employees working in branch are 27 (including clerical and non clerical staff). During my internship I found whole the staff helping and caring. This branch is one of 23 branches of bank Alfalah Islamic bank.


With the grace of Allah, I have completed my six weeks internship according to requirement of Virtual University of Pakistan. Starting date of my internship was Monday, May 09, 2011. After the six week I have done my internship on Monday, June 20, 2011. I missed the (10) days during my internship training course. (6) Days of these was Sundays & (4) days was my Absents from the bank. I have done my internship under the supervision of Mr. Faseeh-ullah Sumbal. He was the operation manager of branch. During the internship my timing was (09:30:00 to 17:30:00). This time was also same for Friday.

During my internship I worked in the following departments.

  • Operation & Remittance Clearance Departments

(Monday, May 09, 2011 to Monday, June 06, 2011)

In operation department I was an assistant of Operation manager, in this department operation manager is leader of full activities of bank operation, including the deposits, transfers, identification of signatures, issuing the cheques books. Etc.

In the remittance department you may transfer your funds from person to person.

May be from place to place, constitutes concept of remittance. It includes demand draft, mail transfer etc... It is common source of Income for today’s banks.

This transfer may be with in branch, one branch to other branch, to some other bank in the same city, or some other bank out-side/two cities.

  • Sales & Service Departments

(Monday, May 09, 2011 to Monday, June 06, 2011)

This department you may also call account & finance where you may open new account, collect bill, receipt and payment of cash, filling the face sheet, payment in honor to cheques. Etc.

  • Training              

(Tuesday, June 07, 2011 to Monday, June 20, 2011)

In this section of training I take a little touch and theory papers and procedure for whole banking activities. Including the whole banking service those providing by Islamic banking division of Bank Alfalah limited.
























11. Training Program

During my internship program I have done the following tasks.


1st Task Remittance & Clearing Departments (Theory Section)

In the first session of my training, I learn how remittance & clearance departments work. Remittance is transfer of funds from person to person, place to place, constitutes concept of remittance. Its very important service provided by the bank to customers. It’s also a source of income for bank. Bank Alfalah limited is in partnership with Money Gram, offers remittance service to Pakistan. This is person to person transfer service help to customer to receive money in just few minutes. It’s secure and reliable, with wide range of quality agents linked with computers. They transferred you money in time safely and carefully. This service is already being used by a lot of people in all over the world its reliability and security is its trust. It’s in 154 countries and 40,000 locations globally.  Its just require National Identity Card of customer not account and credit card or some else require. It’s easy and simple. Also giving facility of text contains 10 words free of cost.

Parties in this task;


Who is sending the fund who request for remittance.


The receiver of remittance in whose name this remittance is made, the beneficiary you may say.

Issuing Bank

The bank that sends this remittance

Paying Bank

The bank on which the instrument is made, the paying bank.

If the remittance is in the branch or bank to bank (one bank) otherwise it has to forward to clearing account in any other case.



















Clearing Department;

The main job of clearing department is to receive and clear the cheques. Which are drawn on the other banks. Bank receives these cheques and collects the amount from other bank and charges some service charges to customer on this service. This department is work under the kind control of Operation manager.

In word clearing; this contains the cheques from other Bank Alfalah branches of the city (with in the city). These cheques drawn up/paid up by the bank which gets the inward clearing appliance.

Out word clearing; receive of cheques from the other of the city is known as out word clearing.

State bank of Pakistan has an additional named national institutional facilitation technologies clearing house of state bank of Pakistan. It collects cheques, demand draft, travel cheques, pay orders etc. from all the branches of different banks with in city through its carriers and send these to those branches on which these are drawn for clearing. Then wait for approval the cheques from branches. When confirmed. Then national institutional facilitation technologies prepare fact sheet, showing the number of cheques and amount debit and credit then send a copy to each branch also to state bank of Pakistan clearing house where account of the banks are balanced according to fact sheet by bank of banks The State Banks of Pakistan.

The collection of cheques from the client; when bank collect the cheques from the client carefully check the following points.

  1. Very first is date of cheque it’s should within validity (six month).
  2. Title of cheque
  3. Amount in figure and words should be matched.
  4. No cutting and overwriting.
  5. Deposit should also match with cheque.

Stamp Procedure; after above necessary checking cheque forward for stamp procedure.

Transfer Stamp; if the cheques fro the same bank both drawer and the payee have an account in same bank. Then the cheque directly forward to posting computer terminal. Where one these two will be debit and other is credit respectively.

If the cheque is receive from other bank then it will forward to clearing house. The date is also mention on it with stamp. If the cheque is out of city then it sends to collection department.

Collection Department:

Collection of outward Bills

Collection of Inward Bills


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