MGT619 MIS internship report al falah bank

Haroon Ur Rasheed Internship Report Bank Alfalah Islamic Banking Introduction of Bank Alfalah Islamic Banking  The largest Islamic bank in Pakistan  BAL incorporated on June 21, 1997  in 2003: Bank Alfalah Islamic Banking Division started  80/270 Islamic Banking branches are based on Sharia laws  Operational workings prescribed by Islamic Sharia advisors  The objective: Riba free financing Product Lines • Musharakah: contractual relationship • Mudarabah: Partnership • Murabaha: non-participatory, client on cost-plus basis • Ijara: Client takes on rent & pays back episodic rent • Salam: Contract of advanced payment against delayed delivery goods • Istisna: Specific product against particular condition by a manufacturer Business Volume (PKR 000) 2005 2006 2007 2008 2009 Revenue 7425 7140 14515 24416 31822 Deposits 76698 129715 223345 239509 273174 Advances 49216 88931 118864 149999 171199 28904 35503 57416 56502 88492 Investme nt Competitors      Meezan Islamic Bank Dawood Islamic Banking Dubai Islamic Bank, Pakistan Ltd Emirates Global Islamic Banking Union Bank Introduction of Branch  This branch is situated in Kabirwala, District Khanewal  It is 12 Km away from Khanewal  This branch belongs to Multan Zone  The branch has a talented hardworking energetic staff  This branch deals with Islamic products only Organizational hierarchy Chart Organizational Management Analysis Training Program Structure & Function of MIS Department Responsibilities of MIS department • To keep all the computers, printers, and ATM machine of the branch operational by providing in time support to the trouble shooting of the IT equipments • To provide support regarding IT operations and also monitor and trouble shoot the LAN (Local Area Network) inside the branch Structure & Function of MIS Department Functions of MIS department • Provides support to operations department for keeping the LAN, computers and software work smoothly • Maintains automated slip generation system that generates slips on customer demand so that the cash counters are not over loaded and the customers come to counter at their specific token number marked on the slip Critical Analysis Bank Alfalah Islamic Banking Division sets its goals according to its mission and vision statement My observations are following: 1.Strong brand recognition 2.Strong allocation potential 3.Recognized market existence 4.Focused business strategy 5.Strong credit rating 6.Large (over million accounts) 7.A full service bank SWOT Analysis STRENGTHS: Bank Alfalah Islamic Banking division is financially very strong bank Following are some of the strengths of the Bank Alfalah bank is applying the TQM in each of its branch, which is the great achievement No other bank has this department Bank Alfalah Islamic is financially strong and has a huge deposit reserve WEAKNESSES: Lack of branch network as compared to other Islamic banks in Pakistan More job rotation It is a step behind in using new technology (MIS) as compared to other banks Most of the employees are overloaded with work slow in the introduction of new services as compare to other Islamic banks in Pakistan i.e free internet services SWOT Analysis OPPORTUNITIES: Bank can extend its network in other cities of Pakistan profitability can be increased by making use of new technology (MIS) Ability to introduce new products and services because of the huge capital reserve It can adopt E-banking and provide credit card facility to its customers Good financial position creating a good reputation for future advances and huge deposits THREATS: In certain era of Pakistan people emphasizes more on Islamic mode of banking Bank is facing intense competition from other Islamic Banks working in Pakistan Bank is performing very well in the presence of unstable political and economic situation but this uncertainty is a continuous threat for the bank SWOT analysis shows that Bank Alfalah’s strengths are more than its weakness and it has a chance of availing many opportunities Internal Factor Evaluation Matrix (IFE) External Factor Evaluation Matrix (EFE) TOWS Matrix Competitive Profile Matrix (CPM) BCG Growth Share Matrix Porter’s Five Forces Matrix  Degree of Rivalry  Threat of Entry  The Threat of Substitutes  Buyer Power  Supplier Power  Ansoff Matrix Market Penetration: Selling more of the same to same type of people Market Development: Selling the existing products to new consumers Product Development: Selling new products to existing customers Diversification: Selling new products to new consumers Conclusion Recommendations        Build their Own Website: E Banking Advertising / Marketing (Internet based): More focus on MIS required: Introduction of New Products: Women In Workforce: Distribution of Work: Thank You For Your Attention