internship report on js bank by labeeda farid

INTERNSHIP REPORTON

JAHANGIR SIDDIQUI BANK LIMITED

Specialization: Human Resource Management

Submitted to: ChairmanDepartment of Business Administration

Submitted By: Labeeda FaridRoll #: MBHF14M023

UNIVERSITY OF SARGODHA

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DEDICATION

I would like to dedicate this accomplishment to my beloved and caring parents and to my teachers with the support of whom I am standing at this step of my life.

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ACKNOWLEDGEMENT

In the name of ALLAH, the most kind and most merciful.

First of all I’m grateful to ALLAH ALMIGHTY, who bestowed me with health, abilities and guidance to complete the project in a successful manner, and without HIS help I was unable to perform this task.

I would also like to thank Branch Manager and Area manager Malik Lut Ful Manan Khan, Mr. Azmat Bashir Tarar (Branch Operations Manager) and Ms. Asma Farrukh (Customer Service Officer) for providing me with the opportunity to have an excellent learning experience during my internship.

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TABLE OF CONTENTS

Serial # Title Page #1 Title page 22 Dedication 33 Acknowledgement 44 Table of contents 55 Executive Summary 66 Vision and Mission 77 About JS Bank 88 Banking 119 Awards 1710 Products and Services 1811 Investment Opportunities in Government Securities 4112 Loans and Running Finance 4413 Wealth Management 4614 Takaful Solutions 6215 Cheque and its Types 6516 Crossing of Cheque 6717 E-Banking 6818 Job Description of Employees 6919 Employee Benefits 8520 Branch Standard Checklist 8721 Work done by Internee 9422 SWOT Analysis 9923 Conclusion 10324 References 104

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EXECUTIVE SUMMARY

JS Bank Limited is a majority-owned subsidiary of Jahangir Siddiqui & Co. Ltd. and

incorporated in 2007. JS Bank operates in commercial banking sector. The activities of

JS Bank are categorized into five business units. They are Retail Banking, Wealth

Management, Corporate Banking, Investment Banking and Treasury.

This report is an upshot of my ten weeks internship in JS Bank of Pakistan. The main

purpose of internship is to learn, by working in practical environment and to apply the

knowledge acquired, during the studies, in a real world scenario in order to tackle the

problems. In this report the detailed analysis of the organization has been done and all

the technical, managerial and strategic aspects have been evaluated to analyze the

current position of the organization. Along with it SWOT analysis of bank has been done

and the recommendations & suggestions for the improvement have been made

wherever required. During my ten weeks internship program, I mainly worked with the

following departments:

CUSTOMER DEALING, OPERATIONS.

I successfully completed the tasks that were assigned to me.

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VISION AND MISSION

VISION STATEMENT:To provide quality and innovative range of banking services and products to our

customers through a highly motivated team of professionals, while maintaining high

ethical and regulatory standards, thereby generating sustainable returns to our

shareholders.

MISSION STATEMENT:

To be a preferred partner of our customers by providing complete financial solutions

exceeding service expectations, and to do so through a single relationship via

convenient distribution channels, both conventional and non-conventional.

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ABOUT JS BANK LIMITED

JS Bank Limited was formed in 2006 by the merger of Jahangir Sidiqqui Investment Bank Ltd. and the commercial banking operations of American Express Bank (Pakistan) Ltd. JS Bank Limited also possesses a Primary Dealer License for Government Securities from the State Bank of Pakistan. JS Bank is one of the fastest growing banks in Pakistan in terms of deposit growth. JS bank Ltd. key activities can be divided into four business units namely: retail and consumer banking, treasury, corporate and commercial banking and investment banking. From 100 branches in 2009, JS Bank has grown rapidly to 238 branches in 122 cities in Pakistan.

JS Bank Limited in four years has more than doubled its top line revenues and bottom line profits. That is despite the tough economic conditions that prevailed for most of the four year period. The remarkable profit growth makes it one of the fastest growing commercial banks in the country, which is a clear achievement. JS Bank has done what the big players have i.e. to cash on Government securities . The bank's investment to deposit ratio stands at 62% as at September end, having touched the highest of 73% by March 2014. The ADR has remained in the mid 40s. It would be unfair to say that all focus has been on Government securities, as the ADR has jumped from 33% a year ago to a healthy 45% now. But most of the deposit growth has been parked in Government papers, because that is where the returns have been of late, and risk free one at that. The focus has been lately on Pakistan Investment Bonds as the returns have skyrocketed. There has been some signs of JS Bank's openness about private sector lending. Banking sector spreads have been sluggish for quite some times. The deposit growth has been nothing sort of exemplary, having crossed Rs. 100 Billion mark recently. JS Bank's Current Account and Saving Account (CASA) has been hovering at 60% and has decrease of late. Most bigger banks have shifted their focus towards zero growth in deposits while improving CASA. The cost to income ratio could still be improved , but one has to bear in mind that JS Bank is growing its network, which can result in comparatively higher cost to income ratio, than more settled banks.

JS Bank has the honor of being the first bank in Pakistan to implement one of the most sophisticated and advanced core banking systems Temenos T24. This is a shift from the previous SBS system and it will allow the bank to launch new products and provide improved services to its customers.

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JS Bank has earned a 9 month profit before tax of Rs. 610.55 million till September 30th , 2014. The bank is positioned as a robust mid-sized bank with strong liquidity and sound capital base of Rs. 10.92 billion. During past nine months JS Bank deposits have increased by 26%, with almost Rs. 21 billion in growth since December 2013. This is a direct result of customer's trust and confidence also strength of relationship between the Bank and its customers. Some of the key numbers are presented below:

JS BANK LIMITED(ALL AMOUNTS IN

RS MILLION)SEP 2014 DEC 2013 DEC 2006

DEPOSITS 101,936 80,916 7,198

ADVANCES 45,637 33,763 1,693

EQUITY 11,050 9,139 3,004

TOTAL ASSETS 130,264 112,770 12,545

PROFIT BEFORE TAX 611 501 0.406

ADR 45% 42% 24%

NO. OF BRANCHES 212 211 4

SOCIAL CORPORATE RESPONSIBILITY:

JS Group has always strived to benefit this country and its citizens through various green initiatives leading to an environmentally sustainable planet. It was one of the pioneers in converting its bank branches to solar, including in various philanthropic activities through its charitable arm to support tree plantations. Its JS Bank's principal understanding that they must contribute back to the country.

1. In September 25, 2013 JS Bank promote and finance Solar System solution in Pakistan as part of JS Bank's business strategy and corporate social responsibility. JS Bank conducts its social corporate responsibility through its own initiatives and also in collaboration with the Mahvash & Jahangir Siddiqui Foundation. JS Bank has initiated a Go Green drive converting the Dhoraji

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Branch karachi to solar power. That means all computers, servers, ATM and teller stations are now powered with solar energy.

2. In July 09, 2013 JS Bank has launched a tree plantation campaign at Jinnah International Airport Karachi in collaboration with World Wide Fund (WWF) to bring additional shade and relief for its passengers and visitors. It is JS Bank's belief that trees are our national asset and must be protected at all costs as they play a vital role in maintaining ecological balance, keeping the environment clean and induce rainfall.

3. In April 17, 2013 Bachelors program for deaf. JS Academy for deaf is a project of Mahvash & Jahangir Siddiqui Foundation and Noor-e-Ali trust. It is one of the best charity institutions imparting education to Deaf children in the country with a unique concept of having an open door policy, allowing all the deaf children to avail higher education without any age restriction.

4. In April 27, 2013 donation of Ambulance to Al-Azeem public school system in tehsil Kahuta.

5. Wheelchair distribution by JS Bank to the flood affected. 300 customized wheelchairs were distributed.

6. Mahvash & Jahangir Siddiqui Foundation and JS Bank responded to the severe flooding by providing assistance to thousands of people whose livelihoods, homes and belongings have been destroyed or severely damaged by the floodwaters. In the second phase of flood relief operation, the primary area of focus was to provide medical services to all those suffering from infectious diseases. Medically treated 22,134 patients.

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BANKING

Retail Banking:

Retail banking is the provision of services by a bank to individual consumers, rather

than to companies, corporations or other banks. Also known as consumer banking or

personal banking, retail banking is the visible face of banking to the general public, with

bank branches located in abundance in most major cities. Services offered

include savings and transactional accounts, mortgages, personal loans, debit cards,

and credit cards. The term is generally used to distinguish these banking services

from investment banking, commercial banking or wholesale banking. It may also be

used to refer to a division or department of a bank dealing with retail customers.

Customer deposits garnered by retail banking represent an extremely important source

of funding for most banks. Retail banking is perhaps one area of banking that has been

most impacted by technology, thanks to the proliferation of ATMs and the popularity of

online and telephone banking.

Typical products offered by a retail bank include:

Current Accounts

Saving Accounts

Debit Card – banks charge some fee annually.

Credit Card – the high interest rates charged on most credit cards makes this a

lucrative source of interest income and fees for banks.

Traveler's cheques

Mortgages on residential and investment properties – because of their size,

mortgages account for both a substantial part of retail banking profits, as well as

the biggest chunk of a bank’s exposure to its retail client base.

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Home Equity loans

Personal loans

Certificate of Deposit/Term Deposit - these are the most popular investment

products with conservative investors, and an important funding source for banks

since the funds in these products are available to them for defined periods of

time.

Foreign currency and remittance services – the increase in cross-border banking

transactions by retail clients, and the higher spreads on currencies paid by them,

makes these services a profitable offering for retail banking.

Automobile financing – banks offer loans for new and used vehicles, as well as

refinancing for existing car loans.

Retail banking clients may also be offered the following services, generally through

another division or affiliate of the bank:

Stock brokerage (discount and full-service)

Insurance

Private banking

Wealth Management

The level of personalized retail banking services offered to a client depends on his or

her income level and the extent of the individual’s dealings with the bank. While a client

of modest means would generally be served by a teller or customer service

representative, a high net worth individual who has an extensive relationship with the

bank would typically have his or her banking requirements handled by an Account

manager or Manager.

With 238 branches in 112 cities, Retail Banking at JS Bank constantly endeavors to

provide with best banking services at all times. The innovative range of banking

services is designed to exceed customer's service expectations. Retail Banking offers a

complete range of deposit & loan products, wealth management, trade finance and

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transactional services to a growing base of individual and institutional customers across

Pakistan.

Corporate Banking:

Corporate banking, also known as business banking, refers to the aspect of banking

that deals with corporate customers. Financial services specifically offered

to corporations, such as cash management, financing, underwriting,

and issuing of stocks, bonds, or other instruments. Financial institutions often maintain

specific divisions for handling the needs of corporate clients, separate

from consumer or retail banking activities for individual accounts.

Products and services by Corporate banking are:

Loans and other credit products – this is typically the biggest area of business

within corporate banking, and as noted earlier, one of the biggest sources of

profit and risk for a bank.

Treasury and cash management services – used by companies for managing

their working capital and currency conversion requirements.

Equipment lending – commercial banks structure customized loans and leases

for a range of equipment used by companies in diverse sectors such as

manufacturing, transportation and information technology.

Trade finance – involves letters of credit, bill collection.

Employer services – services such as payroll and group retirement plans are

typically offered by specialized affiliates of a bank.

Through their investment banking arms, commercial banks also offer related

services to their corporate clients, such as asset management and securities

underwriters.

Corporate Banking division at JS Bank offers financial solutions to meet the needs of

every type of business.

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INVESTMENT BANKING:

An investment bank is a financial institution that assists individuals, corporations, and

governments in raising financial capital by underwriting or acting as the client's agent in

the issuance of securities (or both). An investment bank may also assist companies

involved in mergers and acquisitions (M&A) and provide ancillary services such

as market making, trading of derivatives and equity securities, and FICC services (fixed

income instruments, currencies, and commodities). Unlike commercial banks and retail

banks, investment banks do not take deposits.

JS Bank’s Investment Banking Group (IBG) has been the pioneer of numerous

landmark transactions brought to the domestic capital markets. JS Bank offers tailor-

made solutions for capital raising strategies. The products, advice / solutions offered to

clients are specifically designed to adapt to their financing / capital-raising or investment

requirements.

JS Bank’s IBG provides a comprehensive range of Corporate Finance Advisory

services in the Debt & Equity Capital Markets, including Mergers & Acquisitions,

Project Finance Advisory, Corporate Debt Originations & Syndications, Term

Finance Certificates (TFCs), Sukuks & Initial Public Offerings.

JS Bank provides assessments of capital markets and offers sound, substantial

recommendations, financial valuation and due diligence advice, either as an

independent body or as an integral part of a comprehensive Advisory and

Arrangement transaction. Given an impeccable track record of successfully

executing a wide array of large capital transactions, often under challenging

economic and time considerations, IBG has established itself as a top player in a

very elite group.

Managed by a dedicated team of professionals, IBG offers trustee / agency

services to various corporate debt offerings and plays an active role in structuring

and maintaining special purpose accounts.

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With substantial underwriting capability, JS Bank’s IBG offers the ability to handle

large capital market offers, helping you through the Private Placement and Initial

Public Offers, i.e. pre-IPO and IPO stages. JS Bank takes pride in of bringing a

substantial number of valuable offerings to Pakistan.

JS Bank’s IBG acts as ‘Bankers to the Issue’ for Initial Public Offerings catering

to Equity as well as Debt Capital markets, Rights issues, Share Buybacks and all

other transactions where the appointment of Bankers are required by our

esteemed clientele.

Banks are middlemen between a company that wants to issue new securities

and the buying public.

In merger and acquisition, banks advise buyers and sellers on business

valuation, negotiation, pricing and structuring of transactions, as well as

procedure and implementation.

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INSTITUTIONAL BANKING:

Institutional Banking is a specialized division in a bank that offers a comprehensive suite

of products and services for large institutions both locally and abroad. In particular they

can provide complex advisory and financing functions for corporate and Government

clients who may require tailored capital products. In addition, they may also advise on

surrounding debt equity and capital markets, risk management and transactional

banking.

Institutional banking incorporate services such as evaluating merger and acquisitions,

investment, managing treasuries etc. Also help client to create corporate strategies and

develop opportunities for growth on a national and global level. Institutional banks

provide clients with expertise, research analysis and research-based methodologies

that enable them to make sound financial decisions, suited to their business

environment.

Js bank caters to diverse needs and requirements of retail, commercial and corporate

clients’ global import and export needs in a timely, efficient, risk averse manner.

While having a continuously growing distribution network covering over 250 global

destinations via SWIFT at present.

Fund based relationships:

Discounting of Letters of Credit

Risk Participation

Trade Relationships:

Letters of Credit – Advising

Letters of Credit – Confirmation

Guarantees

JS Bank guarantees are acceptable with Government of Pakistan, its agencies and

major financial institutions.

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AWARDS

JS Bank recognized for its Corporate Social Responsibility efforts by National Forum for Environment And Health (NFEH) at the CSR Business Excellence Awards 2013. JS Bank received its award in the category of Social Impact.

In July 13, 2009 JS Bank received an award for the "Best Communication Campaign by a Conventional Bank" as part of the Pakistan Banking Awards. The award was given by Khaleej Times which is one of the most prominent daily newspaper in UAE.

Brand of the Year Award 2013For the year 2013, JS Bank was awarded "Brand of the Year" in the category "Online Internet Banking" by the Brands Foundation.

Primary Dealer 2011-12The State Bank of Pakistan recently, 2nd year in a row has declared JS Bank as the Number 1 Primary Dealer of Government Securities for the year 2011-12. JS Bank is one of only 11 State Bank of Pakistan appointed Primary Dealers authorized to participate in the auctions of Government of Pakistan securities consisting of Treasury Bills (T-Bills) and Pakistan Investment Bonds (PIBs).

Primary Dealer 2010-11JS Bank Limited won the first award for the primary dealer for Financial Year 2010-11.

Entity Rating PACRAPACRA Upgrades Ratings of JS Bank Limited. The Pakistan Credit Rating Agency (PACRA) has upgraded the long-term entity rating of JS Bank Limited (JSBL) to ‘A+’ (Single A Plus). These ratings denote a low expectation of credit risk, while the capacity of timely payment of financial commitments is considered strong. It also reflects bank's strong financial profit emanating from improving profitability, strong liquidity and supporting capital adequacy.

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PRODUCTS AND SERVICES

DEPOSIT PRODUCTS:

JS PLATINUM BUSINESS ACCOUNT:

It is current account for businessmen. Monthly average balance requirement of Rs.

150,000. It is non-remunerable account i.e. no profit earned on the account.

JS Platinum Business Account maybe opened by Individuals / Sole Proprietorship /

Partnership and Limited Company, primarily for business transactions.

Account holders can:

Conduct several transactions every month.

Use SMS Alerts to keep track of transactions.

Use Debit card for cash.

Use business financing for growing business.

Target Market

Well-educated Businessmen

Stakeholders of public and private companies

Small to medium sized business setups

Small merchants, traders and retailers

Transactional Benefits

Chequebooks:

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Customers can write unlimited cheques for their business transactions. Even if average

balance falls below the requirement, one Chequebook of 50 leaves will be provided on

monthly basis free of charge.

Pay Orders:

Customers can issue as many pay orders as their business requires free of charge.

Charges will be applicable as per schedule of charges (SOC), Rs. 250/- against account

and Rs.2,500/- against cash, if average balance is not maintained.

Intercity Online Transaction:

Customers can conduct free intercity online transactions for business purposes,

regardless of average balance requirement. Normally intercity clearing charges are Rs.

300/- per cheque, but this service is provided free for this account holders.

Convenience Benefits

Platinum VISA Debit Card:

Issuance of platinum VISA Debit Card is free. Annual fee of Rs. 1800/- will be charged

if average balance is not met during the month.

SMS Alerts:

Customers can enjoy free SMS Alerts to keep them up-to-date with business

transactions. SMS Alerts charges of Rs. 1000/- per annum will be charged if average

balance is not met.

ATM Cash Withdrawal:

Customers can withdraw cash from any ATM ( 1-Link or M-Net) across Pakistan,

without any charge.

Security Benefits

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Worry-free Cash Withdrawal:

JS Platinum Business Account provides security for cash withdrawals made anywhere

in Pakistan, through a JS Bank branch or any ATM in Pakistan. This coverage has been

designed to reimburse losses from a snatching or holdup upon cash withdrawal.

Customers are covered for cash withdrawals up to a total of Rs.50,000 per year, for up

to two instances per annum. Cash Withdrawal Insurance is valid as long as customer

inform the Bank within 30 minutes of the snatching, and is limited to 500 meters radius

of the branch or ATM where the withdrawal was made.

The branch staff will record the incidence particulars at the insurance portal and

dispatch copies of all requisite documents:

Claim Form - available at branch.

Police Report (Roznamcha) - Customer to provide.

CNIC copy - Customer to provide.

Bank Statement - To be extracted for customer account.

ATM Receipt - Customer to provide.

In case the insurance claim is approved, Insurer will make payment through cheque

favoring the beneficiary (with customer name and account number), which will be sent

to branch, for onward delivery to customer.

In case claim is declined, Insurer will inform via return email regarding reason for

declining the claim, for onward communication to the customer by the Branch.

Relationship Manager will inform the customer by calling him personally with the status

of claim.

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JS Premium Current Account:It is current account. Monthly average balance requirement of Rs. 100,000. It is non-

remunerable account i.e. no profit earned on the account. It may be opened by

Individuals / Sole Proprietorship / Joint Accounts.

Customers can:

Frequently conduct ATM Transactions.

Have limited over-the-counter transactions.

Use deposit accounts for payment of bills and services.

Transactional Benefits

Chequebooks:

Customers can have first cheque book of 50 leaves free of charge.

Pay Orders:

Customers can issue four pay orders free of charge every month. Charges will be

applicable as per schedule of charges (SOC), Rs. 250/- against account and Rs.2,500/-

against cash, if average balance is not maintained.

Intercity Online Transaction:

Customers can conduct free intercity online transactions for business purposes,

regardless of average balance requirement. Normally intercity clearing charges are Rs.

300/- per cheque, but this service is provided free for this account holders.

Convenience Benefits

Gold VISA Debit Card:

Issuance of Gold VISA Debit Card is free. Annual fee of Rs. 1200/- will be charged if

average balance is not met during the month.

Small Locker:

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Customers are offered with a small locker free of charge (subject to availability). The

related fees of Rs. 3000/- will be applicable as per Schedule of Charges, if the average

balance is not maintained for a full year.

ATM Cash Withdrawal:

Charges on cash withdrawals from any ATM ( 1-Link or M-Net) across Pakistan, will be

reversed into the customer's account on daily basis regardless of average balance

requirement.

Security Benefits

Worry-free Cash Withdrawal:

Customers are provided with security for cash withdrawals made anywhere in Pakistan,

through a JS bank branch counter or any ATM in Pakistan. Two snatching instances per

annum will be covered , and the aggregate coverage amount will be Rs. 50,000/- per

annum for ATM and over the counter withdrawals across Pakistan.

Mobile Snatching Insurance:

JS bank provide customers with free insurance coverage for mobile snatching.

Coverage of up to Rs. 20,000/- per annum and only one such instance per year will be

covered.

Wallet Snatching Insurance:

Coverage of Rs. 5000/- per annum and only one such instance per year will be covered.

Claim Filing:

Incidence of snatching must be reported within 30 minutes of incident through:

Phone Banking at 0800-01122

Any Js bank branch

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The branch staff will record the incidence particulars at the insurance portal and

dispatch copies of all requisite documents:

Claim Form - available at branch.

Police Report (Roznamcha) - Customer to provide.

CNIC copy - Customer to provide.

Bank Statement - To be extracted for customer account.

ATM Receipt - Customer to provide.

In case the insurance claim is approved, Insurer will make payment through cheque

favoring the beneficiary (with customer name and account number), which will be

sent to branch, for onward delivery to customer.

In case claim is declined, Insurer will inform via return email regarding reason for

declining the claim, for onward communication to the customer by the Branch.

Relationship Manager will inform the customer by calling him personally with the

status of claim.

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JS KAMIYAB BUSINESS ACCOUNT:The Kamiyab Business Account offers great value for businessmen, to make business

transactions smoother and faster. The following services are offered absolutely free of

charge:

Online inter-city fund transfer

Return Cheque (outward)

Demand Draft and Pay Order Issuance

Additionally, by maintaining an average monthly balance of only PKR 100,000 in the

Kamiyab Business Account, the following services can also be availed absolutely free of

charge:

Counter Cheques - Bank's book on which no account number is mentioned. When customer

needs urgent cheque and he neither has cheque book nor ATM card then bank issues that

cheque , the customer had to fill in the value of the cheque, Account number, the date, and

their signature. One counter cheque costs Rs. 100/- but it is free in this case.

Collection Cheque (Local) - is an item presented to a bank for deposit that the bank will not,

under its procedures, provisionally credit to the depositor's account or which the bank cannot

(due to provisions or law or regulation) provisionally credit to a depositor's account. Payment

must be received from the payor bank before the item may be credited to the depositor's

account.

Stop Payment - If customer looses a filled out cheque, then on customer's request bank

stops the payment of the cheque. Charges are Rs 300/- per cheque and Rs. 500/- per series,

but this is free in this case.

Chequebook Issuance (25 leaves)

Small Locker*

ATM Card Issuance**

ATM Card Annual Fee

Telex / Postage - Postage charges on cheques or bills are Rs. 100/- which in this case is

free.

Statement Issuance - It contain all the account details, deposit and withdrawals of the time.

Balance Certificate - It contain only the name of customer, his account number and closing

balance. Its charges are Rs. 200/- but it is free in this case.

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*Subject to availability of vacant lockers at the branch.

**Applicable for individuals, sole proprietorships and partnership accounts.

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JS RUPEE PLUS ACCOUNT:A high performing product, JS Bank’s Rupee-Plus savings account calculates profits on

a daily basis, giving maximum returns with the greatest flexibility. Profit is given on

monthly basis. Profit rate is 4.5%. Average balance of Rs

. 50,000/- should be maintained in this account otherwise (Rs. 50/- + Tax) account

maintenance charges will be cut from the account monthly.

By maintaining an average monthly balance of PKR 250,000 in the Rupee-Plus

Account, you can avail the following additional services absolutely free of charge:

Counter Cheques

Collection Cheque (Local)

Stop Payment


Small Locker*

ATM Card Issuance**

ATM Card Annual Fee

Telex / Postage

Statement Issuance

Balance Certificate


**Applicable for individuals, sole proprietorships and partnership accounts

Calculations of monthly profit:Balance in Account × 4.5% / 365 × 30

(Subtract 10% Government charge from answer amount and then monthly profit is

calculated.)

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JS RUPEE CURRENT ACCOUNT:The Rupee Current Account primarily targets individuals and companies that have a

high turnover of cheques. Ideal for volume based businesses, Rupee Current Account

has no initial balance requirement.

Non-profit based account and no minimum balance is required. There are no online

charges.

In addition, if an average monthly balance of PKR 100,000 is maintained in the Rupee

Current Account, the following services would be absolutely free of charge:

Online Inter-city Funds Transfer



Counter Cheques


Stop Payment


Small Locker*

ATM Card Issuance**

ATM Card Annual Fee Waiver

Telex / Postage

Statement Issuance

Balance Certificate



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JS PLS RUPEE SAVING ACCOUNT:

The JS Bank PLS Saving Account is a Profit and Loss sharing account that offers

competitive returns on your savings with security and convenience. No account

maintenance charges of Rs. 50/- Profit is calculated monthly but given after every six

months. A PLS Rupee Saving Account holder gets the following services absolutely free

of charge:

Online Inter-city Funds Transfer



In addition to this, by maintaining an average monthly balance of PKR 250,000 in the

PLS Saving Account, the following additional services can also be availed absolutely

free of charge:

Counter Cheques


Retained Mail

Stop Payment

Cheque-book Issuance (25 leaves)

Small Locker*

ATM Card Issuance**

ATM Card Annual Fee Waiver

Telex / Postage

Statement Issuance

Balance Certificate



Calculations of six months profit:Balance in Account × 4.5% / 365 × 30 ×6

(Subtract 10% Government charge from answer amount and then six months profit is

calculated.)

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JS RUPEE BASIC BANKING ACCOUNT:

This is a Rupee account that can be operated keeping a balance as low as Rs 1,000/-.

Ideal for salaried individuals and persons with low transaction turnover, Rupee Basic

Banking Account has the following salient features:

No transactional charges up to 2 deposit transactions and 2 checking withdrawals per

month.

Not for profit account.

No minimum balance requirements.

No charges to maintain the account.

Country wide banking facility.

In case, balance of a BBA account remains nil continuously for six months then bank

closes that account.

Account statement is issued only once per year.

JS FOREIGN CURRENCY ACCOUNT:Current and Savings accounts in US$, Pound Sterling and Euros.

Money has to be deposited in the same currency as the account. On withdrawal of

money convert the money in Pakistani rupees at the rate of that day on which money is

to be withdrawn i.e. same day exchange rates apply. Withdrawal of money in foreign

currency depends upon availability of foreign currency in the bank branch.

JS FOREIGN CURRENCY PLUS SAVING ACCOUNT:

This is a new product offered from August 2015. It is a saving account with great profits

on higher deposits. The account offers option to save in US Dollars, Pound Sterling and

Euros.

Profit on this account is payable on quarterly basis, and is calculated on daily basis.

That means you get the highest returns on the savings with frequent profit payments.

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This account allows great flexibility for all the withdrawals and deposits. Financing in

Pak Rupees up to 90% of JS Foreign currency Plus Savings Account deposit. First

chequebook is free of charge upon opening this account.

Minimum average balance requirement is:

Pounds 300

Euro 400

Dollars 500

If the minimum average balance is not maintained, an amount in prevailing currency

equivalent to Rs. 50 is applicable on monthly basis as charges.

PROFIT RATES:

JS Foreign Currency Plus Savings Account Pound Euro USD

For balance less than 4,999.99 0.10% 0.10% 0.10%

For balance between 5,000 up to 24,999.99 0.25% 0.25% 0.25%

For balances between 25,000 up to 49,999.99 0.50% 0.50% 0.50%

For balances between 50,000 up to 99,999.99 0.75% 0.75% 0.75%

For balances of 100,000 and above 1.00% 1.00% 1.00%

Profit rates of JS Foreign Currency Plus Savings Account are subject to change on

monthly basis.

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MUHIB-E-WATAN ACCOUNT:

It’s never easy when loved ones are living abroad. Now with the JS Bank Muhib-e-

Watan Account, you have peace of mind in knowing that you can get the best return on

your funds even when your loved ones are miles away. Designed specifically for the

needs of foreign remittance beneficiaries, the JS Bank Muhib-e-Watan Account gives

you great benefits and a high rate of return so that you can enjoy the very best of life.

Great profits, paid every month

Account tailored specially for remittance customers

Fast processing for Muhib-e-Watan account holders

Easy and secure account opening.

Convenience of withdrawing funds from more than 100 JS Bank branches all over the

country

24-hour convenience of withdrawing funds with your ATM card

Account opening with just PKR 5. No limit on amount kept in account. Therefore, the

higher the amount, the bigger the profit

In accordance with the State Bank of Pakistan’s PRI program, funds from anywhere in

the world may be received in Muhib-e-Watan account*

The facility of transferring funds from any bank to your account. Submission of deposit

receipt is mandatory. The receipt should not be older than 3 working days.

In addition, avail the following and numerous other benefits, free of charge:

On-line Banking

Issuance of Cheque Book (25 leaves)

Issuance of ATM Card

Annual Fee Waiver on ATM Card

Pay Order and Demand Draft

Telebanking

31

JS GLOBAL ONLINE TRADING ACCOUNT:JS Global online trading account provides an investor direct access to Karachi Stock

Exchange through a software application. Minimum account opening is Rs. 25000.

JS Global provides two types of accounts:

A Basic Account where the investor likes to trade on his own without any

financial advisor.

A Premium Account where a dedicated trader (Financial Advisor) is assigned in

addition to the access to software application.

Through the software solution, investors can access the Ready Market against 100%

cash.

Process flow for customers inquiring about the product:1. The Branch Manager are requested to directly connect the customer to JS Global

at 021-111-574-111 or e-mail at [email protected] for any information /

queries. This process will help the customer connect directly with JS Global for

future references.

2. Any customer requiring any Relationship Manager about JS Global Online

Trading should be referred to contact the Branch Manager directly.

3. In case the customer does not have any account at JS bank, the customer

should be presented with an option of opening an account or the customer is

requires to get their signatures verified from their respective bank.

4. When finalizing the account opening form, the Branch manager should inform the

customer of attending two verification calls (one from JS bank and second from

JS Global). The account opening process will take 72 hours post these calls.

5. Branches with no Standees/Brochures of JS Global Online Trading should

coordinate with Nomita Talha (JS Global). Branches are required to display the

standees and brochures.

Account Opening Form (AOF) instructions:

32

1. Account opening form duly filled and signed (17 signatures in total) along with the

bank verification.

2. CNIC/Passport copy of account holder and Nominee. Make sure the photocopy

shows the signatures clearly.

3. Cheque in favor of JS Global Capital limited-Online Trading or Bank transfer to

JS Global Online Account # 130612. Minimum Rs. 25,000/- for basic account,

Rs. 100,000/- for premium account and Rs. 10,000/- for Student account.

4. Student ID card in case of student account.

5. Zakat Declaration Form - if applicable (True copy or attested).

6. Dispatch the documents to Muhammad Rehan Wealth Management Operations,

JS bank, 1st floor, Shaheen Commercial Complex for future processing.

Commission Structure For JS Bank Relationship Manager: The relationship manager will earn 25% of commission earned in the first year referred

through any JS Bank branch. The application form should be forwarded mentioning the

Relationship Manager code clearly on top of the form to the Wealth Management.

JS SHANDAR MUNAFA TERM DEPOSIT ACCOUNT:

This is a new product that started in August 2015. JS Shandar Munafa provides

maximum profit on a monthly basis with a seamless banking experience. It is a three

year term deposit account with monthly payout. JS Shandar Munafa Term Deposit

Account of Rs.1,00,000 up to maximum of Rs. 10 Million.

JS Shandar Munafa can be used to avail financing up to 90% of Term Deposit amount.

First cheque book is free. Also VISA Debit Classic Card is also free.

33

JS RUPEE TRAVELLERS CHEQUE:It is an easy to use cheque instrument designed to facilitate transactions in a secure

and smart way, allowing customers great flexibility in conducting transactions on the

move. For customers who travel alot within cities of Pakistan.

JS Rupee travellers cheque is very useful for individuals, particularly for customers who

need cash while travelling within Pakistan to conduct transactions, make payments and

keep their payments safe with them.

Targeted towards:

Individual travellers

Businessmen

General public

JS Rupee Travellers Cheque is available in denominations of Rs. 5000/- and Rs.

10,000/- strengthened by as many as 9 unique security features. Security features have

been added in order to make it impossible to replicate, making Travelling Cheque the

most secure in Pakistan. These security features include:

PSPC (Pakistan Security Printing Corporation) watermark on all cheques.

Unique Red Fluorescent numbering on all cheques.

Linographic Tint on background of the cheque.

Unique black MICR (Magnetic Ink Character Recognition) coding at the bottom of

the cheque.

2-color invisible Hilits at the bottom of the cheque.

State-of-the-art DP Border around cheque.

Guilloche in the center of the cheque.

JS Rupee Travellers Cheque can be en-cashed at any of JS bank branch or any bank

all over Pakistan. RTC issuance charge Rs 25 per instrument (Upto 1000 per

purchased) + 16% FED and can be waived by Regional Head and Business Head

recommendation RTC refund charges Rs 750 per instrument + 16% FED RTC

replacement charges Rs 500 per instrument + 16% FED.

34

Eligibility: JS Rupee Travellers Cheque can be issued to a literate individual and it is

mandatory to be a JS bank account holder.

RTCs can be issued individual who has firm signature.

Ineligibility:

RTCs cannot be issued against thumb impression.

RTCs cannot be issued to minor or insane person.

RTCs cannot be issued in name of any firm/company, shops or joint names.

Salient Benefits:

Readily available with minimum formality.

Sense of security with peace of mind.

Hassel free en-cashable process.

Easily refundable.

Most secured.

validity until en-cashed.

Minimum penalty in case of lost or stolen.

RTCs are available at 80 designated branch of JS bank.

Requirement for Issuance or Rupee Travellers Cheque :For JS account holders: Valid CNIC / Passport, Sale form RTC-10 completed and signed by customer along with

RTC request form. Issuance charges are Rs 25 per instrument, up to maximum Rs.

1000/- per purchase (to be waived if Rs. 100,000/- maintained in current account).

For walk in customers:Attested copy of CNIC, in case of a walk in customer/ non-account holder if the amount

of sale is up to PKR 10,000.

Lost RTCs:The customer can contact any JS bank branch and provide FIR (First Investigation

Report)/CNIC (attested photocopy)/ copy of purchase form/ indemnity form/ refund form.

35

Cancellation/ Reissuance of lost RTC charge is Rs. 500/- per instrument. Refund in lieu

of lost RTC charge is Rs. 750/- per instrument.

CARD PRODUCTS: VISA DEBIT CARD:

JS Bank Visa Debit Card gives you the convenience and freedom of using your card for

shopping directly wherever you see Visa sign in addition to cash withdrawal facility from

ATM at any time. No more worrying about carrying excess cash, your money is safe

and always reachable. Exclusive benefits of Visa Debit Card are:

Withdraw cash from over 4,800 ATMs in Pakistan on 1-Link or MNET network.

Withdraw cash from over 1 million Visa Network ATMs globally.

Accepted at over 55,000 and 27 Million retailers in Pakistan and Internationally for

shopping respectively

Easy activation through JS Phone Banking 24 hours a days.

Manage your funds, spend only as much as you have in your account.

Safer than carrying cash and in case your card is stolen or lost card you are protected

against fraudulent transactions made on your card after you report the incident.

Fees and Charges will be levied according to prevailing JS Bank Schedule of Charges.

1. ATM Cash withdrawal charges is free on JS Bank ATMs and Rs. 15 on other

bank ATMs.

2. Inter-bank fund transfer, through ATM is Rs. 60 per transaction, through mobile

and internet banking Rs. 50 per transaction.

3. Chip maintenance charges Rs. 500 per annum.

4. VISA Debit card annual fee

Classic Rs. 7000/-

Classic Supplementary Rs. 3500/

Gold Rs. 1200/-

Gold Supplementary Rs. 6000/

36

Platinum Rs. 1800/-

Platinum Supplementary Rs. 900/-

5. International ATM Cash Withdrawal Rs. 600 per transaction or 3.5% whichever is

higher.

6. Balance Inquiry is free from JS Bank and 1-Link ATMs, Rs. 5 from M-Net Bank

ATMs and Rs. 120 from International ATMs.

7. Mini Statement is free.

8. Internet Activation charges are Rs. 200 per annum.

9. VISA Debit Card Reissuance/upgrade:

Classic Reissuance Rs. 450/-

Gold Reissuance Rs. 700/-

Platinum Reissuance Rs. 900/-

Classic to Gold Upgrade Rs. 600/-

Gold to Platinum Upgrade Rs. 700/-

Classic to Platinum Upgrade Rs. 1200/-

With Classic card customer can withdraw Rs. 40,000/- per day.

Gold card allows customer to withdraw Rs. 60,000/- per day.

And Platinum card allows customer to withdraw Rs. 100,000/- per day.

JS BANK CREDIT CARD:JS Bank offers you a Credit Card which empowers you to shop at millions of locations

worldwide facilitated with amazing discounts offered globally at different outlets. JS

Bank VISA Credit Card offers all services and many more advantages which would fulfill

your credit, spending and lifestyle needs. Your card is accepted at any VISA-accepting

outlets in Pakistan and throughout the world.

JS Bank Credit Protector gives you and your family peace of mind and protection you

need. It gives you 100% coverage against your outstanding and an additional 100% to

your family, in case of death or accident. This insurance is underwritten by EFU Life

Assurance Limited, and is charged at only 0.48% of your monthly outstanding balance.

JS Bank Credit Cards will be at your service 24 hours a day 7 days a week. The VISA

sign on your Credit Card is your gateway to spending at thousands of outlets nationwide

37

and millions of locations worldwide. Your JS Bank Credit Card now lets you avail

boundless opportunities at home and abroad.

REPAYMENT PROCESS:Simply fill out the deposit slip at any JS Bank branch and deposit the cheque/cash at

the teller counter or drop it in the JS Bank Credit Card payment drop box in the branch.

Please ensure you mention your JS Bank Credit Card number on the slip. Please allow

up to three working days for same city clearance and seven working days for out of city

clearance.

SUPPLEMENTARY CARDS:Now you can have up to 6 supplementary Credit Cards issued for your family & friends,

and you can specify the credit limit for each card.

REMITTANCE SERVICES:Home Remittance facility available to JS and non-JS Bank customers. In order to

facilitate the flow of home remittance from non-resident Pakistani living abroad to their

families and loved ones in Pakistan, Home Remittance has established partners across

the globe, where the non-resident Pakistanis can remit funds to their loved ones through

the partner correspondents/Exchange Companies. This service is targeted towards

everyone, students, individuals, salaried people, sole proprietorship, partnerships or

private limited companies. Receive Remittance as high as PKR 500,000.

HOW TO RECEIVE CASH IN PAKISTAN:To receive cash payment over the counter from any nearest JS Bank branch, customer

needs to furnish the following information:

Unique Reference number i.e. MTCN/PIN

Valid photo ID (CNIC/Passport/Driving License)

CASH OVER COUNTER (COC):Customers can receive cash from 238 branches across 122 cities in Pakistan. In

addition, they may walk into any MCB or Allied Bank Limited to withdraw their cash

through a special arrangement with MCB and Allied Bank Limited respectively.

Valid Information of the Beneficiary

38

Valid photo ID (CNIC/Passport/Driving License)

TRANSFER OF FUNDS TO BENEFICIARY'S ACCOUNT WITH JS BANK:Customers can remit funds to the beneficiary's acccount maintained with any JS Bank

Branch through our partner exchange companies, having their presence nearby you by

providing the following details:

Account number

Title of account of the beneficiary

TRANSFER OF FUND TO BENEFICIARY'S ACCOUNT WITH ANY OTHER BANK IN PAKISTAN:Customers can transfer funds to beneficiary's account with any other bank in Pakistan.

Funds transfer to beneficiary account at any other bank takes place in following two

ways:

Inter Bank Funds Transfer IBFT

Real Time Gross Settlement RTGS

Inter Bank Funds Transfer:It can be done only through ATM. Funds can be transferred from any JS branch to other

bank or from any other bank to any JS Bank branch.

Real Time Gross Settlement:If fund has to be transferred from JS branch to Alfalah branch, for example, then JS

branch scans that document and sends to their head office. JS head Office sends that

to Alfalah Head Office which sends to Alfalah Branch in which the customer has

account. That branch transfers the fund to that customer's account. No withholding tax

is applied because this is bank's transaction for customers. Tax is only for customers

and not for bank.

Remittance services offered by JS bank are as follows:

WESTERN UNION SERVICE:It is dependent on 10 digits Money Transfer Control Number MTCN. CNIC Original is

needed/Passport/Driving License.

RIA INTERNATIONAL SERVICE:

39

It has 11 digits MTCN. It starts from 1211. Requirement is same as above.

EXPRESS MONEY:It has 16 digits. This service belongs to Dubai. Requirement is same as above.

AFTAB CURRENCY EXCHANGE (ACE):It has 13 digits number. requirement is same as above. For foreigners only passport is

required, no need for Computerized National Identity Card.

DEX INTERNATIONAL:It has 9 digits Money Transfer Control Number MTCN. CNIC Original is


SPEED REMIT:It has 12 digits Money Transfer Control Number MTCN. CNIC Original is


INSTANT CASH:It has 9 digits Money Transfer Control Number MTCN. CNIC Original is


ALI CO:It has 8 digits Money Transfer Control Number MTCN. CNIC Original is


40

INVESTMENT OPPORTUNITIES IN GOVERNMENT SECURITIES

The State Bank of Pakistan has allowed Banks to offer Investor Portfolio Securities (IPS) Account to all their customers for broadening the investor base of Government Securities. The product types which fall under the IPS category are Treasury Bills, Pakistan Investors Bonds and Ijarah Sukuks and any other securities that may be issued by the State bank of Pakistan on behalf of the Government of Pakistan.Previously, these products were only made available by the bank to its corporate customers and the sale was directly handled by the Bank's Treasury Department. Now branches will also be able to participate in offering this product to their retail customers.JS Bank as a primary dealer for Government Securities is permitted to act as custodian on behalf of its customers for holding their Treasury Bills, Pakistan Investment Bonds and Ijarah Sukuk Bonds in scrip-less/electronic form in these accounts. The ultimate custodian of such securities is with the Public Debt Office of the State Bank.JS bank offers financing up to 90% against T-bills, PIBs and Ijarah Sukuks.

TREAUREY BILLS (T-BILS): Zero coupon instruments issued by the Government of Pakistan. 3 months, 6 months and 1 year tenor Instruments are sold at a discount and mature at face value Sold through Primary Dealer Banks by the State Bank of Pakistan via bi-monthly

auctions Highly marketable and reserve eligible securities for Financial Institutions. Minimum denomination is Rs. 100,000.

PAKISTAN INVESTMENT BONDS (PIBs): Long term instruments issued by the Government of Pakistan. 3 years, 5 years, 10 years and 20 years tenors. Sold through Primary Dealer Banks by State Bank via monthly auctions. Fixed semi-annual coupons and repayment of principal at maturity. Highly marketable and reverse eligible securities for Financial Institutions. The minimum denominations is 100,000.

IJARAH SUKUK: Long term Islamic instruments issued by Government of Pakistan. 3 years tenor. Sold through Islamic Bank by State Bank via periodic auctions.

41

Highly marketable and reverse eligible securities for Islamic Financial Institutions. Floating and semi-annual coupon payment and repayment of principal at

maturity. Highly marketable and reverse eligible securities for Financial Institutions. Minimum denomination is Rs. 100,000.

HOW TO INVEST IN GOVERNMENT SECURITIES

Open a PKR account with any JS Bank branch

Open an IPS account linked to your PKR account.

Contact Branch for various transactions.

Finalize the transaction and receive confirmation.

Provide cheque or debit instructions for Purchase/ Sale amount.

Profit/maturity/sale amount will be credited to PKR account.

PROCESS FOR IPS ACCOUNT OPENING: Customers wanting to purchase Government Securities must sign an IPS

Account Opening Form which is available on JS Bank website. Customers other than individuals account must provide a resolution for opening

the IPS account passed by the board of directors/governing body. Upon receipt of IPS account opening form and supporting documents (if

required), Treasury office staff will scrutinize the same for completeness and issue an IPS Account number to the customer.

The IPS account statement shall be sent to customers on a quarterly basis.WITHHOLDING TAX:10% Withholding Tax is applicable from the profit/mark-up amount. Customers exempted from Withholding Tax must produce an exemption certificate issued by

42

Federal Board of Revenue (FBR) while opening the IPS Account with JS Bank. Copy of this certificate will be provided to State Bank of Pakistan by Treasury Bank office.

BENEFITS:Guaranteed Repayment:The repayment of face value at maturity and periodic coupon payments are guaranteed by the Government of Pakistan.Higher Returns:These securities provide higher returns to the investor, as compared to most bank deposits.Investment for medium term to long term:These securities offer investors with maturity periods from 3 years to 20 years.Liquidity:Highly liquid and tradable in the secondary market.Easy Process of Investment:Local and foreign investors can easily invest in the PIBs by opening an IPS Account in any Bank offering these services.

43

LOANS AND RUNNING FINANCE

JS GOLD FINANCE:JS Bank offers its customers to convert their gold ornaments into working capital for their business or investment needs, through JS Gold Finance, a unique financing facility that offers term or revolving loan against gold ornaments. It is available to JS Bank Deposit customers including individuals, sole proprietors, partnerships or private limited companies. Simply pledge the gold ornaments and avail financing through a term loan (3 years) or revolving facility , up to 70% of assessed gold value.GOLD VALUATION:JS Gold Finance offers financing against gold ornaments to the extent of net gold contents of the required fineness, as determined by Bank's designated valuator (Goldsmith). JS Bank accepts gold of at least 21 karat purity. Valuation of ornaments will only include net gold contents and will not take into account any wax, strings, fastenings, precious and semi-precious stones.FINANCING FACILITY AND TENURE:JS Bank offers financing against gold, as a running finance facility, as well as, term finance.Running Finance is offered for a tenure of one year and can be renewed after expiry of the initial term.Term Finance is offered in tenures of one, two and three years. Repayments are made in quarterly installments.WITHDRAWAL PROCESS:Gold will remain safe and insured with JS Bank for the duration of the facility, and will be returned if the customer no longer require the financing facility. Once the customer has paid off the facility, he may request the return of the Gold Ornaments from the Branch.Markup as low as at a rate of 3M KIBOR + 6% floating rate. One of the lowest rates available in the market. Prompt Payment bonus of 2% will not apply in case customer do not make payment by due date, and their markup will be 3M KIBOR + 8%.FINANCING UP TO RS 2.5 MILLION:JS Gold finance offers financing between RS. 100,000 and RS. 2.5 Million depending upon the amount of gold pledge and the amount of financing facility.

JS CAR AAMAD (AUTO FINANCING):JS Car Aamad is an installment-based loan for purchase of new, used and improved vehicles up to 9 years old from the date of manufacture.

44

BENEFITS AND FEATURES: Quickest and hassle-free processing. Lowest down payment as low as 10%. Flexible tenure 1-7 years. First year insurance financing. Insurance through reputable insurance partner-EFU at lowest rates. Financing based on fixed rate of 1 Year KIBOR + 7%. Co-borrower facility. No hidden charges. Financing from Rs. 300,000 to Rs. 5,000,000. No down payment or processing fee payments before approval.

WEALTH MANAGEMENT45

BANCASSURANCE:

ROSHAN KAL:1. THE PLAN:Roshan Kal is a regular premium Unit Linked Whole of Life Endowment Plan where the

benefits are largely linked to the value of a Growth Fund in which a portion of the

premium is invested.

2. ELIGIBILITY AGE:Anyone between the ages of 18 years and 60 years.

3. WHOLE OF LIFE (NO FIXED TERM):The plan is whole of life and does not have a fixed term. This open ended nature of the

plan gives complete flexibility to the client to mould the plan according to their needs.

4. BASIC CONTRIBUTION:The minimum annual basic plan premium is Rs. 24,000.

5. GROWTH OPPORTUNITY:The contribution to the plan are linked to the EFU's Growth Funds which is designed to

maximize the capital growth.

6. FUND SELECTION OPTION:The policy holders have an option to select from the following unit funds:

EFU Managed Growth Fund

EFU Guaranteed Growth Fund

EFU Aitemad Growth Fund

7. INVESTMENT PORTION (UNIT ALLOCATION):The allocation of the annual basic plan premium to buy units in any of EFU's Growth

Funds is as follows:

YEAR ALLOCATION1 25% - 35%

2 80%

3 90%

46

4-10 100%

11 onwards 100% plus Loyalty Bonus Allocation

8. LOYALTY BONUS ALLOCATION:The plan offers generous loyalty bonuses in the form of extra units in the fund if it is

continued without any breaks beyond a period of 10 years. The bonus is allocated to the

plan every five years. The longer the plan is continued, the higher the rewards will be.

YEAR ALLOCATION11 30%

16 45%

21 60%

26 75%

31 90%

9. BASIC SUM ASSURED:The basic sum assured is calculated as follows:

Annual premium multiplied by the "Protection multiple" selected by the client (based on

allowed range for age at entry)

Comm. Age Protection Multiple 18-35 Min: 2 / Max: 75

36-40 Min: 2 / Max: 50

41-49 Min: 2 / Max: 35

50-60 Min: 2 / Max: 70 age

10. FUND ACCELERATION PREMIUM (LUMP SUM ADHOC PREMIUM):Fund Acceleration Premium (FAP) provide the flexibility to top up savings by depositing

surplus funds into the plans. FAP can be paid at the commencement date or anytime in

the policy term. The minimum FAP allowed is equals to Rs. 24000 while the maximum

is limited to 5 times the year basic plans premium.

11. ACCIDENTAL DEATH AND DISABILITY PLUS (ADDITIONAL PREMIUM):If death results due to an accident, an extra sum equals to 50% to 200% of the basic

sum assured would be payable. Alternately if a disability results due to an accident the

benefit would be 50% to 100% of the calculated amount. Maximum payout up to 10

Million.

47

12. WAIVER OF PREMIUM (ADDITIONAL BENEFIT):In case of partial or permanent total disability of the insured to continue any occupation

the premium is waived. However the benefit of the plan continues.

13. FAMILY INCOME BENEFIT (ADDITIONAL BENEFIT):A monthly income is paid to the family in case of the unfortunate death of the assured.

This amount is equal to 1% of the sum assured. The income can be used to pay for

continuing the educational expenses of the child. This income may also be used to

support the family.

14. LIFE CARE BENEFIT PLUS (ADDITIONAL BENEFIT):Specific sum amount is payable in the event of a range of 16 illnesses. Maximum up to

1.5 Million.

15. ADDITIONAL TERM ASSURANCE:This benefit enables the client to raise their cover / protection by 50% to 200% of the

basic sum assured against a nominal premium.

16. CHARGES: Following expenses would be charged every year:

Fund management charges 0.125% of the fund value per month.

Bid Offer spread equal to 5% of the net basic premium.

Administration charges Rs. 180/-

PEHLA QADAM:1. THE PLAN:Pehla Qadam is a unit linked term endowment policy. The basic objective of the plan is

to generate lump sum for the higher education of the designated children, even if the life

assured dies prior to the maturity of plan. This is for parents who aim to provide higher

education to their children.


3. FIXED TERM:The cover is provided for any period any period between a minimum of 10 years and a

maximum of 25 years, subject to a maximum age of 70 years at maturity.

48

4. BASIC CONTRIBUTION:The minimum annual basic plan premium is Rs. 15,000.Annual, semi-annual, Quarterly

and monthly modes can be availed.








2 80%

3 onward 100%

11 onwards 105%

7. CONTINUATION BENEFIT (BUILT- IN):This is a built-in benefit. It ensures that all the future contributions will be paid by EFU

LIFE following the death of the Life Assured until the maturity date of the plan.



the policy term. The minimum FAP allowed is equals to Rs. 15,000 while the maximum




10. INCOME BENEFIT (ADDITIONAL BENEFIT):A quarterly income is paid to the family in case of the unfortunate death of the assured.

This amount is equal to 25% of the basic plan premium. The income can be used to pay

49

for the continuing education expenses of the child. This income may also be used to

support the family.

11. ACCIDENTAL DEATH AND DISABILITY BENEFIT (ADDITIONAL BENEFIT):If death results due to an accident, an extra sum equals to 10 multiples of basic annual

premium is paid. Alternately in case of disability 50% to 100% of the calculated amount

will be paid. Maximum payout is limited to PKR 10 Million.

12. INDEXATION:The plan allows indexation of basic plan premium at the rate of 5% per annum of the

previous year's premium. It is directed towards the investment portion of the plan, to

increase their cash value.

13. CASH WITHDRAWAL:The policy can be partially or completely encashed after two years full premium have

been paid. A partial surrender is allowed so long as Rs. 20,000 remains in the fund.

14. NON-MEDICAL LIMITS:Age Sum Assured LimitUp to 34 Rs 6,000,000

35-39 Rs 5,000,000

40-44 Rs 4,000,000

45-49 Rs 3,000,000

50-54 Rs 2,000,000

55-59 Rs 1,500,000

60 Rs 1,000,000

15. FREE LOOK PERIOD:The free look period is of 14 days during which policy holder can return the policy.





HAMSAFAR:

50

1. THE PLAN:Hamsafar is a unit linked term endowment policy. The basic objective of the plan is to

generate lump sum for the higher marriage of the designated child, even if the life

assured dies prior to the maturity of plan. This is for parents who are planning a

handsome saving amount for the marriage of their children in upcoming future.


3. FIXED TERM:The cover is provided for any period any period between a minimum of 10 years and a

maximum of 25 years, subject to a maximum age of 70 years at maturity.

4. BASIC CONTRIBUTION:The minimum annual basic plan premium is Rs. 24,000.Annual, semi-annual, Quarterly









2 80%

3 onward 100%

7. MARRIAGE SUPPORT BONUS:The plan offers generous loyalty bonuses in the form of extra units in the fund if it is


plan every 5 years. The longer the plan is continued, the higher the rewards shall be.

11th year 100% + 20%

51

16th year 100% + 30%

21st year 100% + 50%

8. CONTINUATION BENEFIT (BUILT- IN):This is a built-in benefit. It ensures that all the future contributions will be paid by EFU

LIFE following the death of the Life Assured until the maturity date of the plan.



the policy term. The minimum FAP allowed is equals to Rs. 24000 while the maximum




11. INCOME BENEFIT (ADDITIONAL BENEFIT):A quarterly income is paid to the family in case of the unfortunate death of the assured.

This amount is equal to 25% of the basic plan premium. The income can be used to pay

for the continuing education expenses of the child. This income may also be used to

support the family.




13. ENGAGEMENT BONUS:At the end of 15 years EFU LIFE will add an engagement bonus to the plan equal to

15% of the average basic plan premium paid.

14. MATURITY OPTION:At maturity if the funds are left with EFU LIFE for one year, EFU will pay the

accumulated fund value and a "Maturity Investment Bonus" of 20% of annual average

premium.

15. CASH WITHDRAWAL:

52

The policy can be partially or completely encashed after two years full premium have



35-39 Rs 5,000,000

40-44 Rs 4,000,000

45-49 Rs 3,000,000

50-54 Rs 2,000,000

55-59 Rs 1,500,000

60 Rs 1,000,000






WOMEN'S SAVING PLAN:1. THE PLAN:This is a regular unit linked protection and saving plan suitable for working females as

well as housewives. The plan helps accumulate a substantial fund which can be used to

finance future financial needs.


3. TERM:The minimum term of plan is 10 years and a maximum of 25 years, subject to a

maximum age of 70 years at maturity.

4. BASIC CONTRIBUTION:

53

The minimum annual basic plan premium is Rs. 24,000.Annual, semi-annual, Quarterly


5. GROWTH OPPORTUNITY:The contribution to the plans are linked to the EFU Funds which is designed to









2 80%

3 90%

4 to 5 100%

6 to 10 103%

11 onwards 105%

8. BASIC SUM ASSURED FOR WORKING WOMEN:The basic sum assured is calculated as follows:




36-40 Min: 2 / Max: 50

41-49 Min: 2 / Max: 35

50-60 Min: 2 / Max: 70 age

9. BASIC SUM ASSURED FOR HOUSEWIVES:

54

For housewives the basic sum assured is 15 times Basic Annual Premium, subject to a

maximum amount of PKR 500,000.




is limited to 5 times the years basic plans premium.

11. FAMILY INCOME BENEFIT (BUILT-IN):A monthly income is paid to the family in case of the unfortunate death of the assured.



support the family.

For Housewives, in case of the death of the life assured, a fixed monthly income of PKR

5,000 is payable for the remaining term.

12. ACCIDENTAL DEATH AND DISABILITY BENEFIT (ONLY FOR WORKING WOMEN):If death results due to an accident, an extra sum equals to 10 multiples of basic plan



13. WAIVER OF PREMIUM (ONLY FOR WORKING WOMEN):In case of partial or permanent total disability of the insured to continue any occupation


14. MEDICAL RECOVERY BENEFIT:This covers 379 diseases/illnesses. This is only for working women.

15. ADDITIONAL TERM ASSURANCE:This benefit enables the client to raise their cover/protection by 50% to 300% of the

basic sum assured against a nominal premium. This is only for working women.




55

17. LIFE CARE BENEFIT:Specific sum amount is payable in the event of 16 critical illnesses. Maximum up to 1.5

Million.




35-39 Rs 5,000,000

40-44 Rs 4,000,000

45-49 Rs 3,000,000

50-54 Rs 2,000,000

55 Rs 1,500,000






RETIREMENT PLAN:1. THE PLAN:This is a regular premium Unit Linked Term Endowment Plan. The contribution in this

plan are invested in accumulation investment funds to build up substantial capital. At

retirement or anytime after age of 50 years, the accumulated fund can be converted into

a regular stream of pension.


56

3. TERM:The minimum term of plan is 10 years and a maximum of 45 years, subject to a

maximum age of 70 years at maturity.

4. BASIC CONTRIBUTION:The minimum annual basic plan premium is Rs. 24,000. Annual, semi-annual, Quarterly


5. GROWTH OPPORTUNITY:The contribution to the plans are linked to the EFU Funds which is designed to









2 80%

3 90%

4 to 10 100%

11 onwards 100% + loyalty bonus

8. LOYALTY BONUS ALLOCATION:The plan offers generous loyalty bonuses in the form of extra units in the fund if it is


plan every five years. The longer the plan is continued, the higher the rewards will be.


16 45%

21 60%

57

26 75%

31 90%

and so on up to end of plan.

9. BASIC SUM ASSURED FOR WORKING WOMEN:The basic sum assured is calculated as follows:




50-60 Min: 2 / Max: 70 age





11. ACCIDENTAL DEATH AND DISABILITY PLUS (BUILT-IN):If death results due to an accident, an extra sum equals to 10 times of basic annual



12. WAIVER OF PREMIUM:In case of partial or permanent total disability of the insured to continue any occupation


13. FAMILY INCOME BENEFIT:A monthly income is paid to the family in case of the unfortunate death of the assured.



support the family.

14. ADDITIONAL TERM ASSURANCE:This benefit enables the client to raise their cover/protection by 50% to 300% of the

basic sum assured against a nominal premium.

15. INDEXATION:

58

The plan allows indexation of basic plan premium at the rate of 5% per annum of the



16. PENSION OPTIONS:Fund value at retirement / maturity can be used to buy pension options which provide a

regular income to the customer to support in his retirement days.




35-39 Rs 5,000,000

40-44 Rs 4,000,000

45-49 Rs 3,000,000

50-54 Rs 2,000,000

55-59 Rs 1,500,000

60 Rs 1,000,000






JS SINGLE PREMIUM PLAN:1. THE PLAN:JS single premium plan is a whole of Life Unit linked plan. Which provides facility of one

time investment- accumulated contribution can provide large sum at maturity. In addition

59

it provides Life assurance coverage during entire saving period. This is for people doing

well in their careers, who want to build up capital for the future.

2. ELIGIBILITY AGE:Anyone between the ages of 18 years to NO maximum age limit.

3. BASIC CONTRIBUTION:The minimum annual basic plan premium is Rs. 50,000.




5. UNIT ALLOCATION:100% of the premium is allocated to investment.

6. LOYALTY BONUS:A loyalty bonus allocation applies every 5 years, starting from end of 5th year. It is only

allocated of no withdrawals are made during preceding 5 years.

5th year 2%

10th year 3%

15th year 4%

and every 5 years thereafter.

7. SUM ASSURED:FOR AGES 18-60 AT ENTRY:

A multiple can be selected from the following: 1.25 / 1.5 / 1.75 / 2 times of the original

single premium.

FOR AGES 61 YEARS AND ABOVE AT ENTRY:

101% of the single premium.

8. ACCIDENTAL DEATH BENEFIT (BUILT-IN):In case of accidental death of the life assured before age 60, an additional lump sum

benefit will be paid. The amount of payout is equal to the Original Single Premium

(adjusted for partial withdrawals).

9. FUND ACCELERATION PREMIUM (LUMP SUM ADHOC PREMIUM):

60

Fund Acceleration Premium (FAP) provide the flexibility to top up savings by depositing





35-39 Rs 5,000,000

40-44 Rs 4,000,000

45-49 Rs 3,000,000

50-54 Rs 2,000,000

55-59 Rs 1,500,000

60 Rs 1,000,000

61-65 Rs 500,000





TAKAFUL SOLUTIONS

61

TAKAFUL:Takaful is an Islamic way of safeguarding yourself and your family against future financial losses. Takaful is a community pooling system based on the principles of brotherhood and mutual help, wherein participants contribute in a fund to help those who need it most in times of financial difficulties. In practice, Takaful serves as a Halal risk-mitigation tool.

JS TALEEM TAKAFUL:MAIN PLAN:The JS Taleem Takaful is an education protection plan which ensures the continuity of the child's higher education even when the parents are not around.INVESTMENT PERCENTAGE:YEAR UNIT ALLOCATION FEE1 73% TO 87%11 & ONWARDS 5% LOYALTY BONUSCONTRIBUTION:Minimum Contribution:Annual Rs. 36,000Semi-annual Rs. 18,000Quarterly Rs. 9,000No limit for maximum contribution.FACE VALUE:Benefit paid in case of death is Family Income Benefit Continuation of PlanLump Sum Payment at maturity (Cash Value)For additional benefits aditional Takaful Contribution will be deducted.AGE AND TERM:Everyone between the age of 18 years to 65 years can have this plan. Minimum term of this plan is 10 years and maximum could be up to age 85 years of the participant member.IF SPONSOR PARENT PASSES AWAY:

Beneficiary is entitled to regular monthly benefit from Family Income Benefit. Payment of all outstanding contributions from the Waqf Fund into the Participant

Investment Fund, in order to sponsor the child's higher education needs, the way it was planned.

At the end of the term, a lump sum amount would be made available to cover the cost of higher education.

IF SPONSOR CHILD PASSES AWAY:

62

The plan can be continued for the benefit of another child or customer can simply withdraw the funds permanently.

WITHDRAWAL:PERMANENT WITHDRAWAL:Permanent total cash value plus surplus is payable. This can be done at anytime during the policy term. There are no surrender charges.PARTIAL WITHDRAWAL:Partial withdrawals are allowed after 1 year from commencement date , subject to Rs. 25,000 or 20% of the value remains in the account. This maybe done monthly, quarterly, yearly or semi-annually. Minimum amount for partial withdrawal is 15,000.

JS KHUSHAL TAKAFUL:MAIN PLAN:The JS Taleem Takaful is a general, comprehensive unit linked plan, and has been designed to cater to all possible investments and coverage needs.INVESTMENT PERCENTAGE:YEAR UNIT ALLOCATION FEE1 73% TO 87%11 & ONWARDS 5% LOYALTY BONUSCONTRIBUTION:Minimum Contribution:Annual Rs. 36,000Semi-annual Rs. 18,000Quarterly Rs. 9,000No limit for maximum contribution.FACE VALUE:Benefit paid in case of death is Sum Covered (From WAQF POOL) +Surplus if any (From WAQF POOL)+Cash ValueAGE AND TERM:Everyone between the age of 18 years to 65 years can have this plan. Minimum term of this plan is 10 years and maximum could be up to age 85 years of the participant member.WITHDRAWAL:PERMANENT WITHDRAWAL:

63

Permanent total cash value plus surplus is payable. This can be done at anytime during the policy term. There are no surrender charges.PARTIAL WITHDRAWAL:Partial withdrawals are allowed after 1 year from commencement date , subject to Rs. 25,000 or 20% of the value whichever is higher remains in the account. This maybe done monthly, quarterly, yearly or semi-annually. Minimum amount for partial withdrawal is 15,000.

JS SARMAYA TAKAFUL:MAIN PLAN:The JS Taleem Takaful is a specifically designed single and regular contribution investment plan where the investments are largely linked with Participants Investment Fund (PIF). ensuring safety of capital and stable (Halal) returns with the additional benefit of Takaful Protection.INVESTMENT PERCENTAGE:94.68%CONTRIBUTION:Minimum And Maximum:Rs. 300,000 to Rs. 100,000,000.FACE VALUE:The initial Face Value of the plan will be equal to 105% of the Lump Sum Contribution.The initial Face Value of the Accidental Death Benefit will be Rs. 1,000,000 (in-addition to the Face value).AGE AND TERM:Everyone between the age of 18 years to 65 years can have this plan. Minimum term of this plan is 5 years and maximum is 10 years.WITHDRAWAL:Both full and partial withdrawals are available. However, Rs. 500 will be charged per withdrawal. No partial withdrawal in first year. Minimum withdrawal amount is Rs. 15,000. Minimum remaining balance must be Rs. 25,000 or 20% of your investment value whichever is higher. No withdrawal charges in case of full encashment.

CHEQUE AND ITS TYPES

CHEQUE:

64

Cheque is an important negotiable instrument which can be transferred by mere hand delivery. Cheque is used to make safe and convenient payment. Cheque is an instrument in writing containing an unconditional order, addressed to a banker, signed by the person who has deposited money with the banker, requiring him to pay on demand a certain sum of money only to or to the order of certain person or to the bearer of the instrument.A cheque is a document that orders a bank to pay a specific amount of money from a person's account to the person in whose name the cheque has been issued. The person writing the cheque, the drawer, has a transaction banking account where their money is held. The drawer writes the various details including the monetary amount, date, and a payee on the cheque, and signs it, ordering their bank, known as the drawee, to pay that person or company the amount of money stated.The four main items on a cheque are

Drawer, the person or entity who makes the cheque

Payee, the recipient of the money

Drawee, the bank or other financial institution where the cheque can be presented for

payment

Amount, the currency amount

OPEN CHEQUE OR BEARER CHEQUE:When the words "or Bearer" on the face of the cheque are not cancelled, the cheque is called a Bearer Cheque. The Bearer cheque is payable to the person specified therein or to anyother person who presents it to the bank for payment. Such cheques are risky because if the cheques are lost, the finder of the cheque can collect payment from the bank.

CROSSED CHEQUE OR ACCOUNT PAYEE CHEQUE:

When the word "Bearer" appearing on the face of the cheque is cancelled and when in its place the words "or Order" are written on the face of the cheque, the cheque is called an Order Cheque. Such a cheque is payable to the person specified therein as the payee or to anyone to whom it is endorsed (transferred).

UNCROSSED OR OPEN CHEQUE:When a cheque is not crossed it is known as open cheque or uncrossed cheque. The payment of such cheque can be obtained at the counter of the bank. An open cheque maybe Bearer Cheque or Order Cheque.

CROSSED CHEQUE:

65

Closing of cheque means drawing two parallel lines on the face of the cheque with or without additional words like "& Co.", "Account Payee", "Not Negotiable". A crossed cheque cannot be encashed at the counter of the bank, it can only be credited to the payee's account.

ANTI-DATED CHEQUE:If a cheque bears date earlier than the date on which it is presented to the bank, it is called an anti-dated cheque. Such a cheque is valid upto three months from the date of the cheque.

POST-DATED CHEQUE:If a cheque bears a date which is yet to come (future date), then it is known as post-dated cheque. A post dated cheque cannot be honored earlier than the date on the cheque.

STALE CHEQUE:If a cheque is presented for payment after three months from the date mentioned on it is called a stale cheque. It is not honored by the bank.

SELF CHEQUE:A self cheque is written by the account holder as pay self to receive the money in the physical form from the branch where he holds his account.

PAY YOURSELF CHEQUE:The account holder issues this type of crossed cheque to the bank asking the bank to deduct money from his account into bank's own account for the purpose of buying banking products like drafts, pay orders or for depositing money into other accounts.

TRANSFER CHEQUE:It is used to transfer money from one bank branch to the same bank branch in another city. This cheque cannot be encashed. Two parallel lines are made on the cheque or the word "Bearer" is cut from the face of the cheque.

CROSSING OF CHEQUE

Cheque is a negotiable instrument. During the process of circulation, a cheque maybe lost, stolen or the signature of payee maybe done by some other person for endorsing

66

it. Under these circumstances the cheque may go into wrong hands. Crossing is a popular method for protecting the drawer and payee of the cheque. Both bearer and order cheque can be crossed. Crossing prevents fraud and wrong payments. Crossing means drawing two parallel line on the face of the cheque.

GENERAL CROSSING:Generally cheques are crossed when

1. There are two parallel lines marked across its face.2. The cheque bears an abbreviation "& Co." between the two parallel lines.3. The cheque bears the words "Not Negotiable" between the two parallel lines.4. The cheque bears the words "A/c Payee" between the two parallel lines.

A crossed cheque can be marked bearer cheque by cancelling the crossing and writing that the crossing is cancelled and affixing the full signature of the drawer.

SPECIAL OR RESTRICTIVE CROSSING:When a particular bank's name is written in between two parallel lines the cheque is said to be specially crossed. In addition to the word bank, the words "A/c Payee only", "Not Negotiable" may also be written. The payment of such cheque is not made unless the bank named in crossing is presenting the cheque. The effect of special crossing is that the bank make payment only to banker whose name is written in the crossing. Specially crossed cheques are more safe than generally crossed cheque.

E-BANKING

INTERNET BANKING:

67

JS Bank launches Internet Banking in 26 December, 2011. Whether customers are at office working or at home relaxing, they can bank with ease. JS Bank internet banking provides with an efficient, secure and convenient way of managing accounts anytime.

Online Account Statement Pay Order, Cheque Book and Paper Statement Request Subscription to e-Statements and SMS Alerts Real-time Fund Transfer (Inter-Bank and Internal) Utility Bill Payment Service (UBPS)

UTILITY BILL PAYMENT SYSTEM:Public can conveniently deposit Electricity, Sui gas & PTCL bills at any of our bank's branches.

Hassle free Comfortable environment No need to maintain bank account

SMS ALERTS:In 14 January, 2011 JS Bank launches JS BANK SMS ALERT SERVICE for its customers. This service is available to all account holders on all GSM mobile networks across Pakistan. Customers can keep track of their transactions in their account such as branch deposits and withdrawals. ATM cash withdrawals, cheque clearing, account balance, fund transfer etc.

JOB DESCRIPTION OF EMPLOYEES OF JS BANK BRANCH

68

BRANCH OPERATIONS MANAGERPOSITION SUMMARY:A manager operations is responsible for smooth running of the branch, provides support

to Relations Manager of Retail Banking. Ensure that procedures are being followed as

laid down in operations manual. Banking services are offered in accordance with State

Bank of Pakistan regulations and guidelines and Jahangir Siddiqui Bank's internal

policies. Maintain service quality and ISMs (Internal Service Measures) requirements.

Operate as acting Branch manager in case Branch Manager is on leave.

PRINCIPLE ACCOUNTABILITIES: Approve and sign all negotiable instruments and vouchers generated in the

branch as first signatory along with any other authorized signatory as per

delegated signatures authorities.

Check and approve account opening forms for opening of accounts.

Ensure strict compliance of laid down procedures e.g. SOPs, Operations manual,

AML (Anti-money laundering) and KYC policy.

Ensure minimum audit observations and acceptable audit rating for the branch.

Ensure proper handling and payment Home Remittance transactions including

Western Union.

Automate manual procedures to enhance processing capability in terms of

transaction volumes. Seek necessary support from IT department in automation

process.

Implement service delivery standards in the branch.

Ensures that operating department are optimally organized.

Help marketing units meet their business targets by providing proactive

operational support.

Promptly attend to customer's complaints and take remedial actions.

Ensure adequate security to system back-up computer hardware.

Recommend assignment of appropriate access levels to system users within the

branch.

69

Evaluate performance and recommend high performers for rewards and counsel

marginal performers.

Provide job description to all operations staff.

Ensure timely preparation and submission of all operational reports and other

statements.

Monitor income/expense variances.

Security of Branch fixes assets and maintenance of premises and other fixtures.

Preparation and monitoring of administrative budget of the branch.

Identify training needs and recommend the training course for the operational

staff for enhancing their professional efficiency.

Prepare goals and appraisals of Branch operations staff.

Ensure adequate controls are in place to allow for continuation of business in the

most efficient manner.

Exercise strict control to minimize the transactions carrying exceptions. Arrange

for reporting of exceptional transactions to Head Office till resolved.

Ensure strict adherence to State Bank of Pakistan prudential regulations relating

to operational activities.

Maintain close interaction with Head Office.

Exercise expense control. Identify potential area for cost saving.

Any other work project assigned from time to time.

UNIQUE KNOWLEDGE AND SKILLS: Graduate with 5-6 years experience in branch banking.

Thorough knowledge and understanding of branch operations, procedures and

practices in Pakistan as per SBP and be fully familiar with Anti-money laundering

and KYC (know your customer) policies.

Possess capabilities to lead a team of professionals and uses best judgment in

handling process flows in order to meet service delivery standards.

Exercise controls and uses best judgment in order to find solution to customer /

staff concerns.

Staff motivation using resource management skills.

CONTACTS:

70

INTERNAL CONTACTS: Relations Manager, Fund transfer, Compliance, Internal Audit,

IT, HR

EXTERNAL CONTACTS: Clients, SBP Officials, Other Banks

PROBLEM SOLVING AND DECISION MAKING:The types of decision made by this position on a regular basis:

Any minor exceptions decisions for smooth branch operations function and

efficient customer services.

Authorize signatory class "A".

Authorize to approve expenses jointly with Branch Manager.

Recommend salary increase of staff.

Recommend loans of staff.

Causes beyond authority are referred to the next level.

ORGANIZATION CHART:

71

HEAD BRANCH

BANKING

Immediate Superior's Title

This Position

RELATIONSHIP MANAGER:POSITION SUMMARY:Manages the high network individual customer portfolio for the branch. Responsible for

mobilization of deposits and assisting first time customers on opening their bank

accounts. Liaises with current and prospective clients to provide financial advice,

72

REGIONAL

OPERATIONAL

HEAD

BRANCH

MANAGER

BRANCH OPERATIONS MANAGER

CASHIER /

TELLEROPERATIONS

STAFF

educate them on the bank's services and products in line with the customer's personal

requirements.

PRINCIPLE ACCOUNTABILITIES: Manages the high net worth individual customers for the branch.

Meets and exceeds sales revenue and volume targets within specified time

frame.

Enhances and establishes relationships with existing and prospective customers

in the segment by visiting/talking to clients on a weekly basis.

Prepares and maintains monthly performance reports and complete client

records.

Deals with customer's enquiries and ensure solution.

Provide updates to supervisor and management weekly on performance and

market realities.

Ensure completion of account opening documents before being submitted for

approval to the Branch Manager and the Branch Operations Manager.

After approval of the account opening documents, logging the form in the

account opening register.

Input of CIF information in the system. After input of the CIF information, uploading the same on the FTP folder of the

CPU.

Follow up with the CPU of the opening of account and ensure that account is

opened in a timely manner by the CPU. Ensure that accounts are opened before

close of business.

Timely resolution of discrepancies in the account.

UNIQUE KNOWLEDGE AND SKILLS: Post Graduate/ MBA

Minimum of 1 year in Sales/Banking function.

Proficiency in computer skills especially MS OFFICE, knowledge of banking

systems/products and services.

CONTACTS:

73

INTERNAL CONTACTS: Branch Manager, Operations manager, Centralized

Operations, Customer Relations Officer, Customer Relations Manager.

EXTERNAL CONTACTS: Customers, Private And Public companies, Government/

Semi-Govt. Agencies.

ORGANIZATION CHART:

Next Higher Superior's position


This Position

CUSTOMER RELATIONS OFFICER:POSITION SUMMARY:Responsible for addressing customer needs queries, complaints and providing them

adequate information about the Bank's services / products. The incumbent of this role is

the frontline face of the bank responsible for handling all customer related issues in a

74

AREA MANAGER

BRANCH

MANAGER

RELATIONSHIP MANAGER

branch and provide service to customers from sale and service perspective ensuring

continuous improvement in operational efficiency and desired quality of service through

liaison with support and operation function.

PRINCIPAL ACCOUNTABILITIES: Greet and manage walk-in-customers, manages queues at cash counter in rush

hours, answer queries on phone and face to face.

Maintain branch standards of hygiene, cleanliness and comfort with daily

checklist through coordination of staff and relevant authorities.

Inform account balances after proper authentication (Name, Address, Few

transactions in account, etc.)

Provide statement of account to customers after obtaining a written request for

the same and verifying signatures on the request.

If the request is brought by third party, other than account holder the request

shall not be processed by CRO and to be forwarded to the Branch Manager.

Ensure that the highest level of customer service is to be provided at all times,

understanding customer needs, recognizing business potential and referring

business to relevant sales staff i.e. marketing.

Be well attired with badge and identification card, desk organized at least 10

minutes before opening time and during the day.

Ensure customer's banking needs are fully met in a professional and competent

manner.

Monitor service standards through daily reports, managing queue times and

other monitoring measures on daily or weekly basis.

keep up-to-date with products, process manuals and procedures to provide

effective and relevant service. Highlight salient features of Bank's products and

services to attract them. Assist customers in answering product questions, giving

brochures, forms etc. guiding but not signing any documents for them, of

whatsoever nature and making decisions for them.

Attend to and follow up customer service issues, complaints, resolving them or

having them resolved by the relevant desk/functionalities keeping in mind the

relevant processes and guidelines.

75

Take in request for main functions like account closure, change of address,

cheque book issuance, ATM card and pin request and forward it to relevant

departments for follow up and completion. No document whatsoever delivered to

customers shall be kept overnight at CRO's desk.

Handling, delivery and maintenance of ATM Cards, cheque books.

Joint custodian of printed ATM card stock.

Complaint officer of the branch, key holder of the complaint/suggestion box.

UNIQUE KNOWLEDGE AND SKILLS: Graduate with experience.

0-2 years experience in Customer interaction.

Customer service skills, communication and organizing skills, good attitude,

relationship management, interpersonal skills, proficiency in computer skills

especially MS OFICE, understands bank's products and processes.

CONTACTS:INTERNAL CONTACTS: Branch Manager, Operations manager, Relationship Manager,

Cash counter, Back office, Locker Ops.

EXTERNAL CONTACTS: Customers

ORGANIZATION CHART:


76

CLUSTER

MANAGER


This Position

CASHIER:POSITION SUMMARY:The position is responsible for supervising cash department. The incumbent is

responsible to deal clients on front counter for cash receiving and payments, utility bills,

With Holding Tax on cash, clearing/collection cheque receiving. Inward/Outward

Clearing, cash sorting, Account transfer, ensure staff training and development needs

are identified and met. This position is responsible for providing value added services,

77

BRANCH

MANAGER

CUSTOMER RELATIONSHIP

OFFICER

accurately, efficiently and within the established time. Ensure that all transactions are

effected with appropriate approval. Develop core competencies in staff. He is required

to demonstrate proactive approach in order to exceed expectations of the customer

and minimize customer complaints at the same time comply with the operations manual,

and AML and KYC policies.

PRINCIPAL ACCOUNTABILITIES: Direct supervision of the Teller services Department including cash payment and

receipts, Cash sorting, Inward and Outward clearing, Inward and Outward

Remittances (Pay Order, Demand Draft issuance and encashment) both local

and foreign currency.

Prepare Western Union transactions for customers.

Prepare Home Remittance transactions for customers.

Handling and processing and balancing of utility bills payments.

Responsible for cash limit maintenance.

Handling of foreign currency conversion and account to account transfer.

Responsible for cash in Hand and cash at Vault balancing.

Checking of daily vouchers and departmental books.

Manage and process work to ensure time and quality standards are met in

accordance with Operations manual.

Ensure that instructions contained in Exchange control manual are adhered to at

all times.

Ensure strict compliance to State Bank of Pakistan regulations.

Be fully conversant with the Anti Money Laundering and Know Your Customer

policy of the bank in order to track and report suspicious transactions to "Money

Laundering Reporting Officer" of the branch.

Coordinate with operations manager to achieve standard quality and productivity

standards.

Maintain records for department to furnish accurate reports to Head Office.

Ensure cash is handled in accordance with state Bank of Pakistan and Bank's

own guidelines and that cash is sorted and placed in the vault in accordance with

State Bank of Pakistan instructions.

78

Maintain strict vigil in order to track suspicious inward and outward remittance.

Ensure that unclaimed pay orders and Demand Drafts are transferred to

unclaimed accounts in accordance with the instructions of operations manual and

to State Bank of Pakistan after ten years.

To inculcate positive attitude and customer comes first approach in all endeavors

related to internal and external customers.

Ensure that all SBP, Head office reports are sent to the respective departments

on or before due dates.

Handle customer/correspondent banks queries and ensure complaints are

addressed promptly and within service standards to achieve customer

satisfaction.

Interact with operations and business groups to resolve customers issues and

require approvals as necessary.

Ensure that accruals and income are correctly booked in accordance with

guidelines of operations manual.

Monitor income and expense variation of the department.

Exercise strict controls to minimize the transactions carrying exceptions. Arrange

for reporting of exceptional transactions to Head Office till resolved. Liaise with

business units for early resolution of the exceptions.

Impart training to sub-ordinate to develop core competencies enabling to create a

back up.

Automate manual procedures to enhance productivity and improve turnaround

time.

Identify training needs of staff of the department to improve operational

efficiency.

Exercise rotation policy within the department to be ready for all emergencies.

Any other work assigned from time to time.

CRITICAL CHALLANGES: Accurate and timely processing of transactions related to the department.

Ensure Quality service to customers.

UNIQUE KNOWLEDGE AND SKILLS:

79

Graduate with 2-3 years experience in cash department as Teller.

Proper understanding of KYC (know your customer) and compliance policies of

the bank.

Good knowledge of Cash Management, guidelines from State Bank of Pakistan,

endorsements of cheques, clearing process.

Good interpersonal skills.

ATM Management (Replenishment, Balancing and reporting of cash).

ORGANIZATION CHART:



80

HEAD OF

OPERATIONS

SOUTH

BRANCH

OPERATIONS

MANAGER

This Position

UNIVERSAL TELLER:POSITION SUMMARY:The position is responsible for providing support to cash department. The incumbent is

responsible to deal clients on front counter for cash receiving and payments, utility bills,

With Holding Tax on cash, clearing/collection cheque receiving. Inward/Outward

Clearing, cash sorting, Account transfer, ATM claims. This position is responsible for

providing value added services, accurately, efficiently and within the established time.

he is also responsible to ensure all work related to Cash, Clearing and Collection is

carried out in accordance with Head Office and regulatory requirements. Since the

position is a front line job, he is required to demonstrate proactive approach in order to

exceed expectations of the customer and minimize customer complaints at the same

81

CASHIER

TELLER

time comply with the operations manual, and AML and KYC policies. Take over

additional responsibilities of cashier as and when required.

PRINCIPAL ACCOUNTABILITIES: Handling of Teller Services counters which includes processing Cash, Clearing,

Collection and Remittances (Pay Order and Demand Drafts) both Local and

Foreign currency, utility bills, inward/outward collections.

Payments to Western Union customers after approvals are in place.

Payment of Home Remittance transactions.

Processing of With Holding Tax, Account to Account Transfers, Foreign Currency

Conversions.

Handling, replenishment of ATM and ATM claims.

Daily Vouchers checking.

Ensure that all services are provided within the established turnaround time.

To process work to ensure time and quality standards are met in accordance with

Operations Manual/ Local regulations.

Ensure that instructions contained in Exchange Controls manual are adhered to

at all times.

Ensure strict compliance to State Bank of Pakistan prudential regulations.

Be fully conversant with the Anti Money Laundering and Know Your Customer

policy of the bank in order to track and report suspicious transactions to "Money

Laundering Reporting Officer" of the branch.

Coordinate with Cashier or Branch Operations manager to achieve Quality and

productivity standards.

Maintain records for the department to furnish accurate reports to Head Office.

Maintain strict vigil in order to track suspicious transactions through Cash,

Clearing Remittance and Collection instruments.

Ensure that notes are sorted and documented in accordance with State Bank of

Pakistan directives.

To inculcate positive attitude and customer comes first approach in all endeavors

related to both Internal and External customers.

82

Ensure that all State Bank of Pakistan, Head Office and other regulatory reports

are prepared for sending to the respective departments on or before due dates.

Ensure strict compliance of operations manual.

Ensure that income is correctly accounted for in accordance with guidelines of

Operations Manual.

Ensure that unclaimed pay orders and Demand Drafts are transferred to

unclaimed accounts in accordance with the instructions of operations manual and

to State Bank of Pakistan after ten years.

Inform cashier for income and expense variation of the department.

Exercise strict controls to minimize the transactions carrying exceptions. Arrange

for reporting of exceptional transactions to Head Office till resolved.

try and automate manual procedures to enhance productivity and improve

turnaround time.

Any other work assigned from time to time.

UNIQUE KNOWLEDGE AND SKILLS: Graduate with 1-2 years experience in Cash handling.

Proper understanding of KYC and compliance policies of the bank.

Should be able to independently handle the Teller Services Area.

Thorough knowledge of handling of Remittances Department function in relation

to Bank Operations manual Desk Instruction.

CONTACTS:INTERNAL CONTACTS: Branch staff including Branch Manager, Branch Operations

Manager, Cashier, Customer Relationship Officer and Relationship Managers.

EXTERNAL CONTACTS: Clients, State Bank of Pakistan Officials.

ORGANIZATION CHART:


83

BRANCH

OPERATIONS

MANAGER


This Position

EMPLOYEE BENEFITS

When an employee is to be made permanent then a probationary period of 3 months is applied. After this period the employee is sent a letter to make that employee permanent. That employee is then eligible to participate in JS Bank Limited staff Provident Fund scheme.

ANNUAL LEAVE:30 days per annum. Company regulations prohibit carry over of vacations from one year to another. 15 continuous days to be availed in every calendar year.

CASUAL LEAVE:Casual leave entitlement for management staff is 10 days per annum subject to manager's discretion.

SICK LEAVE:

84

CASHIER/ HEAD

TELLER

TELLER

The granting of sick leave will be at manager's discretion subject to a maximum of 8 days in a calendar year.

PROVIDENT FUND:Equal contributions (Employer and Employee) at 7.1% of basic salary in accordance with the Trust Rules.

GRATUITY:In accordance with HR policy:

a) Employee will be entitled to the payment of gratuity on completion of 5 years continuous service.

b) Accumulated balance of gratuity is payable to the concerned employee upon separation and retirement, or to beneficiaries nominated by the employee in case of his/her death.

c) In case of in-service death of the employee (after completion of six months but before completion of one year) she/he shall be paid gratuity for the entire one year that is equivalent to one full basic salary.

GROUP MEDICAL INSURANCE PLAN:Under an arrangement with an outside insurance company the bank provides the benefit of reimbursement of hospitalization expenses for the staff and family members. The details of the insurance plan are available with the Human Resource Department.

GROUP LIFE INSURANCE PLAN:Under an arrangement with an outside insurance company the bank provides the benefit for payment of an amount equivalent to 24 basic salaries in case of natural death of employee and an amount equivalent to 48 basic salaries in case of accidental death of the employee.

RETIREMENT:At the age of 60 years.

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BRANCH STANDARD CHECKLIST

BRANCH OUTLOOK (EXTERIOR):

ATTRIBUTES STATUS RATINGS REMARKS

SIGN BOARD OUTSTANDING 10

BRANCH TIMING BOARD AVAILABLE AT THE ENTRANCE

OUTSTANDING 10

PLANTS BELOW AVERAGE 2PLANTS ARE NOT

AVAILABLE AT BRANCH

GUARDS AVAILABLE AND

PLACEMENTOUTSTANDING 10

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GOOD 80%

BRANCH ENVIRONMENT (INTERIOR):


CUSTOMER SEATING AREA GOOD 6

TELLER AREA OUTSTANDING 10

BACK OFFICE AREA OUTSTANDING 10

BRANCH FLOOR, WALLS, CEILING,

TRASH BINSGOOD 6

BRANCH WORKSTATIONS,

COUNTERS, TABLES

OUTSTANDING 10

BRANCH TOILETS AND KITCHEN VERY GOOD 8

LOCKER AREA (IF APPLICABLE) BELOW AVERAGE 2 NOT APPLICABLE

PAINT WORKS GOOD 6

IT ROOM VERY GOOD 8

LIGHTING AVERAGE 4

PAINTING, WALL HANGINGS GOOD 6

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BRANCH TEMPERATURE VERY GOOD 8

BRANCH STAFF APPEARANCE /

STAFF I.D CARDS WORN

VERY GOOD 8

DEPOSIT SLIPS AVAILABLE OUTSTANDIND 10

PRODUCT BROCHURES AVAILABLE AT

RM'S DESK

VERY GOOD 8

A/C OPENING/ SS CARDS / ATM FORM/ PO/DD/

PRODUCT BROCHURE

STOCK

OUTSTANDING 10

TELLERS AVAILABLE READY

FOR TRANSACTION

VERY GOOD 8

AVERAGE 75%

ATM VESTIBULE:


ATM SIGN BOARDS SHOULD BE VISIBLE AND CLEAN. OUTSTANDING 10

ATM VESTIBULE CLEANLINESS (TRASH BINS NEEDS TO BE

CLEANED AND EMPTY)VERY GOOD 8

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PRODUCT BROCHURES AND COMMENT CARDS NEEDS TO BE AVAILABLE IN ATM VESTIBULE.

VERY GOOD 8

ATM MACHINE SHOULD BE FUNCTIONAL. VERY GOOD 8

LOCK ON ATM DOOR OUTSTANDING 10

CONNECTIVITY OF THE ATM HELPLINE TO CALL CENTER. VERY GOOD 8

COMPLAINT BOX AND SUGGESTION: NO COMPLAINT WAS LYING UNATTENDED IN

COMPLAINT BOX.

OUTSTANDING 10

VERY GOOD 88.57%

NOTICE BOARD (NEED TO BE ORGANIZED AT ALL TIMES):


THE CURENCY POSTER SHOULD BE DISPLAYED (ENGLISH/URDU)

IN BRANCH.OUTSTANDING 10

CURRENCY POSTER IN COLOURS. OUTSTANDING 10

GENERATOR APPROVAL FROM CITY GOVERNMENT /

BELOW AVERAGE 2 NOT AVAILABLE

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AUTHORITIES SHOULD BE DISPLAYED AT NOTICE BOARD.

FORM "C" SHOP ESTABLISHMENT CERTIFICATE TO BE PASTED. OUTSTANDING 10

LATEST LIST OF NATIONAL PRIZE BONDS. OUTSTANDING 10

ALL BRANCHES SHOULD HAVE WRITTEN APPROVAL FROM

GROUP HEAD OPERATIONS TO OPERATE ASFOREIGN

EXCHANGE BRANCH AND SHOULD BE DISPLAYED AT

NOTICE BOARD.

OUTSTANDING 10

DEPOSIT RATES OUTSTANDING 10LIST OF UNCLAIMED AND

OUTSTANDING DEPOSITS / DDs / PO

OUTSTANDING 10

COMPLAINT AND SUGGESTION NOTICE (ENGLISH/URDU) OUTSTANDING 10

SBP CHIEF MANAGER'S TELEPHONE NUMBER. OUTSTANDING 10

SBP LEETER FOR JS AMALGAMATION OUTSTANDING 10

BRANCH LICENSE OUTSTANDING 10BBA (BASIC BANKING ACOUNT)

ARE OPENED HERE. OUTSTANDING 10

SOILED AND DEFECTED NOTES ARE ACCEPTED. OUTSTANDING 10

PUBLIC HOLIDAYS. OUTSTANDING 10DAILY CONVERSION RATES

SHEET. OUTSTANDING 10

BRANCH EMPLOYEE LIST. OUTSTANDING 10

CHANGE IN % OF WITH HOLDING TAX. OUTSTANDING 10

PRIZE BOND ACCEPTED HERE. OUTSTANDING 10BALANCE SHEET OF JS BANK

LIMITED. OUTSTANDING 10

BANKING MUHTASIB FAQs. OUTSTANDING 10

SERVICE STANDARDS. OUTSTANDING 10

COMPLAINT REFERRAL FORM OUTSTANDING 10

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MEMO.CM'S FLOOD RELIEF FUND NWFP

2008. OUTSTANDING 10

FLOOD RELIEF FUNDS FOR KHYBER PAKHTUNKHUA 2010. OUTSTANDING 10

PRIME MINISTER'S FLOOD RELIEF FUND 2010. OUTSTANDING 10

SCHEDULE OF BANK CHARGES. OUTSTANDING 10CUSTODIAN OF COMPLAINT/

SUGGESTION BOX IN BRANCHES MEMO.

OUTSTANDING 10

COMPLAINT SUGGESTION BOX PROCESS. OUTSTANDING 10

SMALL DENOMINATION NOTES OF RS. 5, 10, 20, 50 AVAILABLE. OUTSTANDING 10

BANKING MUHTASIB COMPLAINT FORM (ENGLISH / URDU) SHOULD BE AVAILABLE AT THE COUNTER.

OUTSTANDING 10

COMPLAINT REFERRAL FORMS SHOULD BE PLACED WITH

DEPOSIT SLIPS AND PRODUCT BROCHURES.

OUTSTANDING 10

TELLER SIGNAGE SHOULD BE DISPLAYED AT CASH COUNTER. OUTSTANDING 10

COUNT YOUR CASH BEFORE LEAVING CASH COUNTER SHOULD BE DISPLAYED.

OUTSTANDING 10

BANKING MUHTASIB NOTICE SHOULD BE DISPLAYED AT MAIN

HALL.OUTSTANDING 10

OUTSTANDING 97.84%

MISCELLANEOUS:

ATTRIBUTES STATUS RATINGS REMARKSCCTV CAMERA

OUTSTANDING 10

SMOKE DETECTOR'S PLACEMENT AND WORKING. OUTSTANDING 10

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SECURITY ALARM SYSTEM FUNCTIONAL. OUTSTANDING 10

FIRE EXTINGUISHER.OUTSTANDING 10

CHILLER AND WATER DISPENSER. OUTSTANDING 10

DIGITAL KEY PAD.OUTSTANDING 10

UPS/FAX/GENERATOROUTSTANDING 10

AIR CONDITIONERSOUTSTANDING 10

FUNCTIONALITY OF SCANNERS/ PRINTERS / PHOTOCOPY MACHINE.

OUTSTANDING 10

OUTSTANDING 100%

OVERALL COMMENT:88.2% VERY GOOD

CRITERIA:Below Average 2Average 4Good 6Very Good 8Outstanding 10

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WORK DONE BY INTERNEE

I worked as an internee in JS Bank for ten weeks as per required by the University.

During my internship there was tremendous and friendly atmosphere in JS Bank. I

learned so many things from their management like how to work in a standard place.

At my first day in JS Bank, the branch manager and Area Manager Mr. Lut Ful Manan

Khan introduced me to all the employees in the bank that was orientation. After that I

was handed-off to Mr. Azmat Bashir Tarar, he is the operations manager, he was

responsible for my learning in the bank.

I worked under him for two weeks. I learned many things specially how to work as a

professional and learned about his duties and job description in the bank at that post.

After that I moved besides Customer Service Officer Ms. Asma Farrukh. She was very

helpful and extremely friendly. She provided me with all the information that I asked for

and co-operated with me very much. She provided me with notes in the bank's archive

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and brochures that were necessary for me to gain much knowledge about bank. Her

way of teaching and dealing with me was very good. Bank Manager and Area manager

Mr. Lut Ful Manan Khan was also very supportive and much helpful. He also shared his

professional knowledge about products and services. I learned a great deal from him

also.

The most important benefit of internship is that I got practical exposure of the

workplace. I got practical experience of working practices related with my field.

I learned process of account opening of individuals, checked vouchers, issued cheque

books and recorded them, issued ATM cards and kept record of them, learned about

different types of ATM cards, filled online and deposit slips, filled issuance of Visa

Debit Card form, filled cheques of customers who did not knew how to fill a cheque. I

filled the "Funds Transfer Application Form" it is for Pay Order, Demand Draft, Account

to Account Transfer. It contains Transaction Details like Amount in figures and in words,

Purpose of sending money, Currrency, Mode of payment like Cash or Debit Acount or

through cheque. After that there is Beneficiary's detail like Name of beneficiary (The

person or organization to whom the money is sent) and at the end there is Applicant's

detail Name, Address, CNIC number, Contact number and relationship between

beneficiary and applicant e.g. student, if a person wants to send IELTS fees. I also

learned about Authorized signatures. I also learned how to do marketing of a product in

1 minute. I learned how to use photostate machine and scanner.

I got to learn about "Account Services Form". This form is for multiple purposes.

1. If customer wants to know about his account details then there is portion for this,

Account title, Account number, Telephone number, Cell number, and CNIC

number is required.

2. In case the account of a customer is dormant account. Account becomes

dormant if the account holder has not used his account for one year or if the

bank's management cannot get in touch with the customer or if the account

statement sent to the customer that has been dispatched by the bank returns

from the address to where it was sent. So in this case Account Re-activation

portion is filled where customer has to be present himself in the bank and

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request this along with Deposit slip as certain sum of money is required and

copy of his CNIC.

3. If customer wants any kind of Bank certificate then "Bank Certificate" portion is to

be filled. These certificates include Withholding Tax certificate, Zakat Certificate,

Balance Certificate, A/c maintenance certificate. In this portion address of

customer is written and the duration or dates of the period that certificate is

required.

4. Account statement portion is next in this Account number is written and dates.

5. If customer has changed contact details then "Contact Detail" portion is filled.

Old address and new address is written. In case of change of phone number

then old and new one is written.

6. This form also has portion about counter cheque and stop payment. Counter

cheque is Bank's book on which no account number is mentioned. When

customer needs urgent cash and he has neither his cheque book nor ATM card

with him then he requests Bank to issue him a counter cheque so that customer

can withdraw money from his account. One counter cheque costs Rs. 100. On

this cheque customer's name, account number and amount is written. And stop

payment is for stopping any payment agains any cheque or Demand Draft or

Pay Order. This is for safety if the customer looses cheque then he requests

bank to stop that payment so in case the lost cheque got into the wrong hands.

Charges are Rs. 300 per cheque and Rs. 500 per series of cheques.

7. In case the customer wants to close his/her account then "Account Closure"

portion is filled. For this purpose reason for account closure is mentioned.

Cheque book has to be submitted to the bank or cheques that are not used are

to be handed to the bank so that bank can destroy them or in case the cheques

are not provided then customer has to assure the bank that the unused cheques

are destroyed by the customer. Also mention all the services that are to be

closed like Internet Banking, SMS Alert, Mobile Banking.

I learned about the "eBANKING SERVICES APPLICATION FORM". This form is for

obtaining VISA DEBIT CARD or for SMS Alerts service or eSTATEMENT or for using

Internet banking service for account. For obtaining any of the above mentioned service

95

first of all personal information of account holder is needed like Title of account, Mailing

address, Account number, Account type (joint or individual), CNIC number, Mother's

maiden name, Mobile number, E-mail Address.

During my internship, I dealt with many customers and that was a great experience to

learn:

How to deal with customers.

How to work under pressure i.e. in rush hours.

How to manage an office.

My communication skills were improved.

My confidence level boosted up.

On my first day at JS Bank I was given the orientation. Branch Manager and Area

manager Mr. Malik Lut Ful Manan Khan introduced me to the staff and told me that if

the Branch Manager is not present in the branch then Branch Operations Manager is

incharge and in case he too is absent then Customer Service Manager is incharge. The

employees at JS Bank Rabwah Branch are as follows:

Branch Manger and Area Manager

Malik Lut Ful Manan Khan

BOM (Branch Operations Manger)

Azmat Bashir Tarar

CSM (Customer Service Manger)

Atta-ul-Kaleem

UT ( Universal Tellers)

Rashid Medmood Ahmad

Rizwan Aslam

RM ( Relations Mangers)

Jameel Ahmed

Badar Ahmad Shoaib

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Nouman Abdulla

CRO (Customer Relation Officer)

Asma Farrukh

Branch Manager + Relations Manager + Customer Relation Officer are called CRBG

(Corporate and Retail Banking Group).

Operations include Operations Manager +Customer Service Manager + Universal

Tellers.

I read the forms that were sent by Head Office for internee. I read the Internship

Learning Contract and also Internee responsibilities.

Responsibilities of Intern are as follows:

1. Adhere to JS Bank policies, procedures, and rules governing professional staff

behavior.

2. Adhere to JS Bank policies governing observation of confidentiality and the

handling of confidential information.

3. Assume personal and professional responsibilities for his/her actions and

activities.

4. Maintain professional relationship with the JS Bank employees, customers and

so forth.

5. Utilize a courteous, enthusiastic, open-minded, critical approach to policies and

procedures within the profession.

6. Relate and apply knowledge acquired in the academic setting to the JS Bank

setting.

7. Develop self-awareness in regard to attitudes, values, behavior patterns, and so

forth that influence work.

8. Prepare for and utilize interactions, meetings and other opportunities of learning

afforded in the JS Bank.

9. Be consistent and punctual in the submission of all work assignments to the

supervisor.

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SWOT ANALYSIS

STRENGTH:

Well behaved staff.

Friendly staff due to which more and more customers attract to this branch.

People have developed trust in this bank in a short time.

Majority of people have opened accounts in this bank as compared to their

competitors.

This bank has become popular in a short time.

Employees are willing to share some of the burden of other employees.

Employees support each other emotionally which is important.

Bank has a family-like environment.

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Employees greet their customers cheerfully and always ready for help also make

customers feel important which builds strong relationships with customers which

in turn is beneficial for the bank.

Employee salaries are good as compared to competitors.

Female protective culture prevails in JS Bank. Females are not held in office

during hours of darkness. If someone harasses females then females can

complain to Head office and punishments are given to the guilty person.

Responsibility of Western Union payments is given to the Customer Service

Officer who is female because majority clients for this service are female and so

that they are more comfortable with female officer. Also in case of recognition of

face females observing purdah can easily show their face to a female officer.

JS Bank is one of the pioneers in converting its bank branches to solar, including

in various philanthropic activities through its charitable arm.

JS Bank has been nominated by Ministry of Religious Affairs, Government of

Pakistan to accept Hajj Pilgrimage for the year. This is due to service excellence

and fast-track growth.

Extended timings for Home Remittance Transactions. JS Branches remained

opened from 8:30 am to 5:00 pm (Monday 13 August 2012 to Saturday 18

August 2012).

WEAKNESSES: It's competitors have first mover advantage. Competitors have been in the

industry way too long.

No name plates are displayed at any table of any officer or employee at JS bank

branch.

Employees should pay attention to clean desk policy.

Absenteeism of employees.

The branch size is small so during rush hours the branch looks over crowded.

ATM service is sometimes down.

The Branch has no locker facility available.

99

JS Bank has small branch network in the country.

Advertisement about JS bank is less as compared to its competitors.

ATM card charges are high for JS Bank as compared to competitors like MCB

etc.

Majority of people are not well aware of the products of JS Bank. Therefore it

should advertise extensively.

Mismanagement of time is another weakness, the official closing time is 5:30 pm

but due to mismanagement of time and work the staff are usually on their seats

till 7 or 8pm.

There is no overseas branch network of JS Bank. On the other hand its

competitors like MCB has 8 overseas branches while HBL has 20 and NBP has

15 overseas branches.

There is no Human Resource person at Regional level so all the duties of Human

Resource like selection of candidates for jobs, Interviewing the candidates and

giving jobs to candidates is done by Branch Manager alone. This can cause

biasness. There may occur many errors in selection.

OPPORTUNITIES: JS Branch should increase branch size so that more employees should be hired.

By increasing branch size gives the capacity to have more customers at any time

and avoid being over crowded.

Hire more employees and more departments should be added so that more

products and services should be provided.

JS Bank should increase its branch network in all across Pakistan.

No other bank branches are located at the far ends of the city so JS Bank should

open branches at the brink of the city so that customers should be at ease and

more people will definitely avail services of the bank that is in closest reach to

them.

Add more services like Money gram.

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Increase advertisement about JS bank so that more people should know about

this bank.

THREATS: There are many competitors of JS Bank. The competition has become severe by

the entry of so many banks, so to exist one will have to prove itself in its services

through excellent management and will have to satisfy its shareholders.

Otherwise that bank will be out of the market.

All the competitors are at the same place.

Inconsistency in Government policies.

Image of other banks in customer's mind is strong because other Banks are in

the banking industry for far too long.

Government policies regarding tax change all the time and Government charge

more tax every time.

Current economic conditions of the country.

The decrease purchasing power of consumer in the current economic situation of

the country is affecting the speed of business activity and the result is low

investment from investors in new projects can cause problem for bank because it

is working a lot in trade.

Entrance of international banks in Pakistan.

There is a risk of a terrorist opening an account with bank. So Bank has to be

extra careful in dealing with customers and do not open such accounts if there is

even a hint that such person is or might be involved in terrorist activities even if

that person has high deposit.

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CONCLUSION

The overall economy of the country is gradually improving and provided banks of all

sizes to take advantage. JS Bank has a fast growing deposit structure and it looks ready

to lend, should there be demand from private sector. JS Bank has a relatively clean

book, with non-performing loans well in check. An improvement in Current account and

saving account (CASA) ratio and further drop in cost of deposit should be the next step

forward. JS Bank has outperformed all the Primary Dealers during what has been an

extremely challenging year for Pakistani banking. JS Bank is counted amongst the most

performance driven banks on Pakistani landscape. All in all, things look sound enough

for JS Bank to continue to prosper in the near future.

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References

www.jsbl.com

http://www.investopedia.com/articles/general/071213/retail-banking-vs-commercial-

banking.asp

http://www.investorwords.com/16284/corporate_banking.html

https://en.wikipedia.org/wiki/Investment_banking

http://www.wallstreetprep.com/knowledge/about-investment-banking/

http://www.deposits.org/dictionary/term/institutional-banking/

http://readanddigest.com/what-are-the-different-types-of-cheques/

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http://www.slideshare.net/Praveenkumar7620/cheque-31529798

https://en.wikipedia.org/wiki/Cheque

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internship report on js bank by labeeda farid

Education