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    Training Program:-: Clearing

    Uploaded by

    Bahawal Khan
    The document provides details about the author's internship at Meezan Bank Limited, including an overview of the departments and processes they learned about. It discusses their introduction and orientation by the Branch Manager, and then goes into detail about the Clearing and Remittance Department, NIFT clearing process, types of clearing, and remittance services. It also outlines the Account Opening Department procedures like account forms, signatures, computerized inputting, ATM/PIN issuance, stop payments, and account closures. Finally, it briefly describes the Cash Department books and functions.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Training Program:-: Clearing

    Uploaded by

    Bahawal Khan
    55 views7 pages
    The document provides details about the author's internship at Meezan Bank Limited, including an overview of the departments and processes they learned about. It discusses their introduction and orientation by the Branch Manager, and then goes into detail about the Clearing and Remittance Department, NIFT clearing process, types of clearing, and remittance services. It also outlines the Account Opening Department procedures like account forms, signatures, computerized inputting, ATM/PIN issuance, stop payments, and account closures. Finally, it briefly describes the Cash Department books and functions.

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    Training for All

    Original Title

    Training Program

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    The document provides details about the author's internship at Meezan Bank Limited, including an overview of the departments and processes they learned about. It discusses their introduction and orientation by the Branch Manager, and then goes into detail about the Clearing and Remittance Department, NIFT clearing process, types of clearing, and remittance services. It also outlines the Account Opening Department procedures like account forms, signatures, computerized inputting, ATM/PIN issuance, stop payments, and account closures. Finally, it briefly describes the Cash Department books and functions.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    55 views7 pages

    Training Program:-: Clearing

    Uploaded by

    Bahawal Khan
    The document provides details about the author's internship at Meezan Bank Limited, including an overview of the departments and processes they learned about. It discusses their introduction and orientation by the Branch Manager, and then goes into detail about the Clearing and Remittance Department, NIFT clearing process, types of clearing, and remittance services. It also outlines the Account Opening Department procedures like account forms, signatures, computerized inputting, ATM/PIN issuance, stop payments, and account closures. Finally, it briefly describes the Cash Department books and functions.

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    Training program:-

    With the name of Almighty Allah, I started my internship with


    Meezan Bank Limited on 2nd June, 2016 which continued till 18th
    July, 2016. On first day, the Branch Manager called me in his
    office and asked some questions about my studies and Banking.
    He told me some basic rules and regulations about banking
    operation, Islamic Shariah Polices and introduced me with other
    staff members of the Bank and I worked on Clearing & Remittance and
    Account Opening departments

    Clearing and Remittance Department:-

    Clearing:
    I worked in Clearing Department. I learnt their about Clearing
    of different cheques and remittance handling. I was told there the
    main objects of clearing.
    I received all the clearing cheques and made a schedule of
    these cheques after making entries in outward and inward
    clearing registers and sent the same to main branch where at all
    the cheques were sent to NIFT (National Institutional
    Facilitation Technology)

    NIFT:
    NIFT stand for National Institutional Facilitation Technologies.
    Clearing House of SBP has shifted a part of its work to private
    institution named NIFT. NIFT collets Cheques, Demand Draft, Pay
    Order, Travelers Cheques, etc. from all branches of different
    Banks within city through its carriers and send them to the
    branches on which these are drawn for clearing. NIFT prepares a
    sheet for each branch and send it to each branch as well as to
    State Bank of Pakistan where accounts of Banks are settled.
    Types of Clearing:-

    Outward Clearing:
    When cheques of other Banks are deposited in our bank,
    after clearing these cheques through NIFT by the other Banks on
    which these are drawn. Accounts of the customers are credited.

    Inward Clearing:
    When cheques of our bank are deposited in other Banks and
    these cheques are sent to us for verification, we debit the of our
    client after verification their account

    Remittance:
    Remittance department transfer the funds from one bank to
    another bank and one place to another place. In this department
    collection takes place. MBL makes payment of only open cheques
    at the counter and prohibits the payment of crossed cheques.
    MBL transfer money from one place to another place by way of
    payment order, demand draft, inward collection, outward
    collection.
    Account Opening Department:-

    Account Opening Procedure:

    Account Opening Form:

    This department relates to open new accounts Customers


    approach to Bank and an Account Opening is given to him for
    completing and signing the same. After completed account
    opening form in all respect and checked by the bank officer and
    properly signed by the customer which is also verified by the
    Operation Manager. Specimen Signature Card are gotten signed
    form the customer and after verifying the information written
    theyre in, Customers are given account number and all these
    informations are saved in the system.

    Completion of the Form:


    After completed account opening form in all respect and
    checked by the bank officer and properly signed by the customer
    which is also verified by the Operation Manager

    Specimen Signature Card (SSC):


    Specimen Signature Card are gotten signed form the
    customer and after verifying the information written theyre in,
    Customers are given account number and all these informations
    are saved in the system.

    Signature Difference Form:


    The signature of the client is taken on a signature difference
    form if his signature differs from the CNIC.

    Address Change Form


    If the address is differed from CNIC then client will fill this form.

    Computerized Inputting:
    There are three things under the computerized inputting.

    Customer Information (CIF)


    Here we will generate a customers Id

    Account Number
    After completion of all formalities, final approval for
    opening of account is taken from the Branch Manager and an
    account number is allotted to the customer and all the
    informations are recorded in the computer. Account number is
    written on the cheque book requisition. After completion of all
    procedures, the bank prepares a letter and sends it to the client
    at his postal address to pay gratitude to the customer.

    Customer Due diligence (CDD)


    Here we observe the customers strength to do daily
    transaction in a bank

    Cheque Book Issuance


    Cheque Book requisition for first cheque book is send to
    Head Office, Karachi for issuance the same. The cheque consists
    of 25 leaves and no charges are deducted from the account the
    account of client.

    Procedure for ATM/PIN Issuance


    Meezan Bank limited provides the ATM facility to its
    Customers and they can withdraw their amount at any time
    through ATM. For issuance of ATM, customer has to sign an ATM
    form and Bank office make an entry in the system and within 15
    days bank receives ATM card from Head Office which is given to
    the customer.
    For issuance of PIN and activation of ATM customer has to
    call the help line (111-331-331). After verification of customer, a
    PIN number is issue to him and his card is activated

    Procedure of Stop Payment


    For stopping the payment, we take sign of the customer on
    stop payment form where in account number with date and
    amount of cheque is written. Customers also mention the reason
    of stop payment then we mark that cheque as stop payment.

    Procedure for Closing of an account


    Whenever a customer wants to close the account, he fills up
    an account closing form and signs theyre in, account balance
    should be zero, approval is taken from the Branch Manager
    Specimen card is taken back and is attached with the form and
    account is closed.
    Cash Department

    T h e c a s h d e p a r t m e n t i s t h e m o s t i m p o r t a n t d e p a r t m e n t o f the
    bank. It receives cash from customers and then deposits i t i n t o t h e
    a c c o u n t s o f t h e c u s t o m e r s a n d m a i n t a i n e d t h e i r balances. In cash
    departments following books are maintained.

    o Scroll book

    o Paying book

    o Cash balance book

    SCROLL BOOK
    When cash is received at the customer it is recorded in the scroll book.

    PAYING CASH BOOK


    The cashier makes entry in the paying cashbook when cash is paid.

    CASH BALANCE BOOK


    The consolidated figure of receipt and payment of cash is
    entered in cash balance book.

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