Internship Report on Meezan Bank Essays

Entry level position Report on Meezan Bank Essays Entry level position Report on Meezan Bank Paper Entry level position Report on Meezan Bank Paper Exposition Topic: Favor Me Ultima Affirmation Internship preparing forâ the understudies of Commerce and Business is a complimentary bit of the education,â where understudies areâ put atâ various associations ofâ their respectiveâ specialization; to see and apply their hypothetical information what they have considered dur ing their scholarly program at the organization. Meezan Bank is one of those associations where understudy can accomplish his/her scholarly andâ professional information beneficially. In the planning of this temporary job report, I recognize the consolation and help given by various individuals from Meezan Bank Ltd. I found each one very co-employable and accommodating for giving me the hypothetical just as viable information about the capacity and activity of the bank. I am heartly thankful to CAD ( Housing) division, Manager CAD The Senior Vice President, Mustafa Mohsin, Assistant Manager Syed Adnan Ali, Officer Aurangzab, Qaiser, Naeem Javed. They have been most steady individuals throught my temporary position. Also, I need to pay my gratitude to Humail Jilani, Sana mehmood, Salman, Kashif, Ali, Rehan, faraz from Car Ijarah. Faraz Ahmed Jalal, Habeeb Siddiqui, Noman Ahmed Akif From Labbaik Laptop. Akrama Farroqi, Salman, Fahad Khan, from Housing. Raza Saeed, Amir, from RMU for their collaboration.. Unique This report is exceptionally implied for understudies of business. It is worried to a short investigation of the activities, capacities, Products and Services of Meezan Bank. Meezan Bank is the biggest Islamic Banking Network of pakistan. Islamic financial one of the quickest developing fragments of the money related industry. Banks serving the Islamic populace must follow a few quite certain standards of Islamic law on the off chance that they want to hold existing clients and pull in new ones. Banks must be prepared with specific items and administrations and they should set up projects to prepare their staff to help these items and administrations so as to exist in this serious commercial center. This Report contains detail of MBL Management structure, items and Functions alongside their highlights. It additionally remembers departmental work for MBL Consumer Head Office. Presentation OF MEEZAN BANK Meezan Bank Limited, a publicy recorded organization was fused on January 27, 1997 and began its tasks as a venture Bank in August that year. In January 2002 Meezan bank was allowed as countries undeniable business bank permit as a committed Islamic Bank, by The State Bank of Pakistan. Meezan Bank is the first and biggest Islamic Bank in Pakistan having a system of more than 220 branches in more than 60 urban communities across Pakistan. Meezan Bank offers a total scope of Islamic financial items and administrations, including free internet banking for all Pak Rupee account at all its branches. Meezan Bank today an imperative point alongside the assessment of Islamic Banking in pakistan. Meezan Bankâ is taking into account an undeniably sharp and requesting budgetary shopper who is additionally getting distinctly mindful of Islamic Banking. Meezan Bank bears the basic duty of driving the path forward in building up unique and corralled Islamic Banking System. Meezan Bank offereing significant items and administrations to its clients with no infringement of shariah standards. Strategic STATEMENT OF MEEZAN BANK Vision [pic] |â | |â | |Establish Islamic banking as banking of first decision to encourage the execution of an equitable| | |economic framework, giving a solid establishment to building up a reasonable and only society for humankind. | Mission [pic] |â | |â | |To be a head Islamic bank, offering a one-stop search for innovativeâ | |value-added items and administrations to our clients inside the limits of Shariah, while enhancing | |the partners an incentive through an authoritative culture dependent on learning, reasonableness, regard for | |individual endeavor and execution. | Service Mission [pic] |â | |â | |â | |To build up a submitted administration culture which guarantees the reliable conveyance of our items and | |services inside the most excellent assistance parameters, advancing Islamic qualities and guaranteeing | |recognition and a quality financial encounter to our clients. | SHARIAH SUPERVISORY BOARD MEEZAN BANK The fundamental standard of Islamic banking observes the laws of Sharia, known as Fiqh al-Muamalat (Islamic guidelines on exchange). The term â€Å"Islamic banking† is equivalent with â€Å"full-hold banking† and â€Å"Sharia-agreeable banking. † Members of the Shariah Supervisory Board of Meezan Bank are Internationally-eminent researchers, serving on the sheets of numerous Islamic banks working in various nations. The individuals from the Board are: Justice (Retd. ) Muhammad Taqi Usm ani (Chairman) ? Dr. Abdul Sattar Abu Ghuddah ? Sheik Essam M. Ishaq ? Dr. Muhammad Imran Ashraf Usmani (Shariah Advisor) ? The Board of Directors of Meezan Bank: H. E. Sheik Ebrahim Bin Khalifa Al-Khalifa (Chairman) Mr. Abdullateef A. Al-Asfour Mr. Rana Ahmed Humayun Mr. Mohammed Azzaroog Rajab Mr. Ahmed Abdul Rahim Mohamed Mr. Alaa A. Al-Sarawi Mr. Mian Muhammad Younis Mr. Mohammad Abdul Aleem Mr. Irfan Siddiqui (President CEO) Mr. Ariful Islam (Chief Operating Officer) MEEZAN BANK SEGMENTS Meezan Bank is overseen by a group of expert investors focused on the reason for Islamic Banking. This single binding together factor releases the enormous intensity of a devoted and roused group focused on satisfying the Vision and Mission of this Bank. The business portions of the Bank are: Consumer Banking Corporate Banking Investment Banking Commercial Bankingâ (including Small and Medium Enterprises) Treasury Financial Institutions Asset Management (oversaw through an auxiliary Al Meezan Investment Management Ltd. ) PRODUCTS AND SERVICES OF MEEZAN BANK Banks that agree to Islamic law are taboo to charge premium or late installment expenses, which is likewise viewed as a sort of riba. To limit chance, banks will frequently require an enormous initial installment on merchandise and property, or demand huge security. It is legitimate for the Bank to charge a more significant expense for a decent if installments are conceded or gathered sometime in the not too distant future since it is viewed as an exchange for products instead of gathering premium. Sharia-objection banking items incorporate Mudharabah (benefit sharing), Wadiah (supervision), Musharakah (joint endeavor), Murabahah (cost in addition to) and Ijarah (renting). Another way that banks work inside Islamic laws while attempting to turn a benefit is by purchasing a thing that the client needs, and afterward offering the thing to the client at a more significant expense. Results Of Meezan Bank 1) Car Ijarah [pic] 2) Housing Finance (MUSHARKAH) [pic] 3) Meezan Lap-Top (MUSSAWAMA) [pic] 4) Meezan Labbaik Ummrah [pic] CAR IJARAH (YOUR OWN CAR. Speedy, AFFORDABLE HALAL! ) An Islamic Ijarah is a benefit based agreement, I. e. he Lessor ought to have responsibility for resource during the time of the agreement. Under Islamic Shariah, all propri etorship related rights and liabilities should lie with the proprietor while all use related rights and liabilities should lie with the client. A customary rent contract doesn't recognize the idea of these liabilities and places all liabilities on the client of the advantage, conflicting to Islamic Shariah. Under Car Ijarah in Meezan Bank, all possession related dangers lie with the Bank while all use related dangers lie with the client, along these lines making the Lessor the genuine proprietor of the advantage and making the salary created through the agreement admissible (Halal) for the Bank. Methods OF CAR IJARAH There are two separate elements in Car ijarah. 1) INDIVIDUAL Salaried people, With necasary reports and conditions can apply for Car Ijarah Facility. 2) CORPORATE SME’S Small Business Entities. SME’s are legitimate substances that chip away at little premise. Sole Propritership Partnership having under 50 Million current resources are called SME’s. Business To lie in Commercial Entities, A firm should have deals of 300 millions over 50 million current resources. Corporate are those Entities having over 700 millions deals. Generally the Companies enrolled under organizations Ordinance are corporate firm. Tenure:3 to 5 years Security Deposit:0 to half ( 0% S. D isn't for Individual Clients, in light of the fact that because of State Bank guidelines unwinding can be given to Corprates. ) Key Features of Car Ijarah Low month to month rental. Rental paid after conveyance, not in cutting edge. Quickest handling and conveyance. Tracker alternative accessible. Least security store. All new, utilized, neighborhood, imported and extravagance vehicles can be financed Additional Car Ijarah highlights are; Continuation Of Lease Rentals In Case Of Total Loss Or Theft Of Vehicle If the rented vehicle is taken or totally crushed, the ordinary renting organization keeps charging the rent lease till the settlement of the Insurance guarantee. Under the Islamic framework, lease is thought for utilization of the rented resource, and if the advantage has been taken or annihilated, the idea of rental gets void. Accordingly, in the previously mentioned outcomes, Meezan bank doesn't charge the rent rental. Takaful Instead of Insurance Legally (in understanding to Pakistan’s Law and Regulations), it is required for all renting substances to guarantee the rented resources. Thusly, Meezan Bank protects its rented resources. Meezan Bank safeguarded its benefits through Takaful just, which is Islamic item for protection.