EXECUTIVE SUMMARY

With the development of economies and globalization, exposure to corporate world and its culture is becoming a necessary and valuable experience for college graduates entering the job market. Experience after BBA brings a significant edge to individuals like me when seeking career employment. Successful completion of internship further develops character; gain an increased awareness of skills, attributes, personal qualities ad values. The banking industry is also reaping the fruits of this economic boom by growing rapidly over the past few years. There are a number of mergers happening in the economy with foreign investments coming into the banking sector. It has been fifteen years since the establishment of Bank Al-Falah, and since its establishment it has aimed to become the leading bank of Pakistan by that provides outstanding services to its customers. The bank has seen phenomenal growth in the past few years by opening more branches in the country, increasing the deposit base, while also increasing the assets and profits of the bank. The services that Bank Al-Falah provides have a great market penetration not only because of their features but also the profit and markup rates that they charge. Also the products that Bank Al-Falah provides cater to sector of the economy. The six week experience, as an internee in this organization was very useful. It gave me an opportunity to apply my theoretical knowledge to practical field. It was absolutely an interesting and edifying experience. My foremost objective of this internship project was to apply classroom theory to real work situations, and to gain a richer understanding about them that made me learn more about my chosen field. During my first 2 weeks stay in Bank Al-Falah, I experienced the environmental and cultural gloom of corporate world of Pakistan. I was quite able to understand the operations. I experienced that the communication is the key weapon of any manager that could lead him to resolve/explore any conflict / situation with great ease. After 2 weeks I joined operations department, where I got familiar with the process of clearing and its types i.e. inward clearing, outward clearing and intercity, IBC and OBC. I learned about different types of crossing on cheques and about demand drafts, pay orders and telegraphic transfers. As part of my internship, I was responsible to collect cheques from the customers that they deposited, put the official stamps on the different kinds of cheques, register the return cheques in a register and make OBC schedules. Car finance department keeps an all in all fascination for me. It is totally a different category from other departments of those I got experience. In this department I got the opportunity to make practice of some most important topics of finance that I have

learned in my university and to exercise those concepts in real corporate world like amortization table, determination of interest rate etc.

In my last week of internship I was in accounts department where I learned the process of checking, maintaining, and record keeping of accounts i.e. all operation of the branch, income from operations and expenses and reporting to the area office about all the operations. The working in this department is quite boring like checking accounts on daily basis is a very hectic job. While doing my internship, I realized that this field has more opportunity for career growth. There are loads of advantages connected with this field. One of the foremost advantages is opening up your mind. Starting the day with reading newspaper is like religion for all managers. Every moment, information plays an important role. Indeed, information is a religion for financial organizations. The top management of the bank is always developing strategies that cope with unexpected challenges to deliver products and services more efficiently. An internship is an excellent way to determine if the industry and the profession is the best career option to pursue. I believe an internship program is not only valuable for a fresh graduate, but also for the employers and IBIT itself. For employers, it not only helps to establish a pool of potential employees who have demonstrated their abilities, but also benefits from introduction of fresh and new ideas. On the other side, for IBIT, student feedback can bring a valuable and effective curriculum improvement according to the needs of the ever changing environment. It also reinforces positive relationships with the business community, increases rapport with community interest, and encourages community support for university programs. In last I would like to share some of my good experiences and learning that I got familiar with during my stay in Bank Al-Falah. I could say that I found the key to success in corporate world after having my stay in that meadow for six weeks. Firstly, I think, honesty is one of the primary qualities a man should have to be successful. Because in corporate world, if you are honest, people trust you, they trust you with their money. Second would be hard work, there is no substitute for it. You just have to toil in there and the results come. I have always been a firm believer in hard work. If hard work doesnt pay off in six months, it does in nine, if it doesnt pay off in nine, then it pays off in a year, but you just have to keep toiling away. Third is self motivation. I think many other people rely on others to get motivated; you need to just go out there on your own and do your best.

The most valuable activity which I feel and I do believe that I was somewhat succeeded in that was the analysis of the gap between the theory and the practice.