Innovative consumer banking-银行essay

本文主要为您介绍MCB银行-巴基斯坦市场占有率最大的商业银行之一，MCB背后成功的主要因素是其工作人员的专业奉献。他们的工作动机是给自己的最佳状态。因此，看到在应用在MCB成功的政策和程序我选择了这个组织。

INTRODUCTION:

Banking industry is the one of the fasting growing industry of the last decade. We have seen many up and down in the banking industry. MCB is one of the leading banks of Pakistan with a market share of 12.5%. It is also the pioneer in innovative consumer banking in Pakistan. It is the largest private sector bank in Pakistan. It is the most preferred provider of quality financial services and is usually considered the best place to work. It has developed a large stable deposit base. The bank today boasts of largest on-line branch and ATM network in the country.

The main factor behind MCB’s success is the dedication of its staff to its profession. They are motivated to give their optimum. Thus, seeing the successful polices and procedures applied at MCB I choose this organization.

MCB MISSION:

“To become the preferred provider of quality financial services in the country with profitability and responsibility and to be the Best Place to work”

Muslim Commercial Bank Ltd. (MCB), the largest private sectors bank in Pakistan. Incorporated in 1948 by the Adamjee group, MCB soon earned a reputation of a solid and conservative financial institution. During the 1960s the Bank grew rapidly with a concentration on trade finance products. In 1974, MCB was nationalized along with all other private sector banks.

MCB was the first bank to be privatized in 1991 during the Nawaz Sharif Government’s financial sector deregulation policies. During the first five years, the Private Management concentrated on growth through utilizing its extensive network of Branches and developed a large and stable deposit base. Since privatization, the Bank has made tremendous headway in improving the operational efficiency through human resource development and employment of technology. The Bank today boasts of the largest on-line branch and ATM network in the country.

MCB’s main focus remains on consumer banking and its growing reputation as a full service provider gives the Bank an edge in front of increased competition in the Banking sector in Pakistan.

With a network of over 1,200 branches and a team of dedicated professionals, MCB with an international outlook and a regional focus ensures prompt customer service and innovative solutions to business and personal needs.

The Consumer Banking provides customers with innovative saving schemes, products and services. The ATM network is the largest in Pakistan and the Pak Rupee Travelers Cheques are market leaders. MCB was the first to introduce the photo card with the introduction of the MCB Master Card.

Corporate Banking ensures assistance from a dedicated team of professional financial advisors for underwriting, project finance or corporate advisory services.

MAIN DEPARTMENTS AND THEIR JOB

There are three main departments in SFC branch of MCB

• General banking
• Foreign exchange
• Advances/credit

GENERAL BANKING:

General banking deals with following services:

REMITTANCE:

It is transfer of funds. Funds can be transferred in shape of pay orders, demand draft, mail telegram and telegraph his transfer. Payments of fees of different organizations, fulfillment of tenders, collection of funds are the main functions of remittance. Maximum part of general banking depends on this department.

Issuance of different kinds of remittance:

1. PAYORDER:

Pay-order is the property of person/company (beneficiary) that has to take the benefit of the amount being pay-ordered by the concerned person. Pay-orders are made for the payment of fees, tender or issued for the payments of dealings. These are required for the proof of payments made between the bank and the customer in the favor of beneficiary. These are noted in printed block letters and yearly serial numbers are issued from computerized system.

2. DEMAND DRAFT:

Demand drafts are draft made for the beneficiary for payments, funds etc. these are made for outstation branches of the concerned banks. An advice is also made for the confirmation of the draft send. These are also approved and safe way of sending amount to the beneficiary. These are also noted by computerized system and a serial number is issued from the computer system.

3. MAIL TRANSFER:

Mail transfer is made with in the city for transfer of amount. An advice is also made for the confirmation of the draft send. These are also approved and safe way of sending amount to the beneficiary. These are also noted by computerized system and a serial number is issued from the computer system.

4.TELE GRAPHIC TRANSFER:

Telegraph is transfer is telegram message for transferring the amount from one branch to other branch. A message advice and a confirmation advice both are made with TT numbers that are issued for TEST. TEST depends on two steps:

First TEST is on DAY, DATE and FIX CODE NUMBER of branch.

Second TEST is on Currency: whether Pak rupees or Foreign currency; amount and TT number issued from manual registers and confirmed from computerized system.

These messages could be faxed and telegraphed.

PAYMENT OF PAY-ORDER AND DEMAND DRAFT:

Pay-order and demand draft both could be paid in shape of physical payment of cash and in case of transfer of amounts, the amount could be transferred in the beneficiary account. In case of physical payment authorized signature of beneficiary are taken for the proof of amount being paid to him and in case of transferring of amount authorized signature of the beneficiary are checked and verified for reducing risks.

CANCELLATION OF PAY-ORDER AND DEMAND DRAFT:

Any type of pay-order/demand draft is cancelled by the permission and instructions made by the beneficiary. The customer could only cancel the pay-order/Demand draft as the verified signature of beneficiary are present on the advice.