8 hours (9 to 5) hrs 27th August -Monday

Today I am in agriculture department .this is called agriculture credit.

Agriculture credit includes:

1-agri business:
It include crops,poultry,tube wells,agri machinery, processing unit, food
process unit &milk processing unit etc
2-Revenue record:
It included the basic legal documents of the person as fard; gurdwari etc
in our area patwarri and tehsildar has the basic credit revenue record.

Act 1973 for agricultural purpose:

According to this act if any former have agriculture pass book
which is issued by revenue department. Made by patwri and dual signed by tehsildar is
eligible for the loan. But there is one condition for loan that the customer must have a
bank account of Alfalah. This is zarai account. In it yearly changed markup.

Loans:

Loans are of two types

1-Production loan:
Alfalah give on citrus, wheat; rice Mays, millet (bajra), sargom (chara Jat)
because these are included in the development of country.
2-Non production /development loan:
Used for development of production are called non production loan as dairy, tube
wells, machinery, poultry, fish and cold storage etc

Pass book has two copies red is maintained by the Govt. and green is given to customer.

COMSATS INSTITUTE OF INFORMATION

TECHNOLOGY
The records maintained with patwrri in a register called copy of register of record of
rights (register haqdarrane zameen).
The pass book should be. It include the records of former how much he has land and at
the end the average sales value of land is calculated and this all data is written in it. This
shows the security to bank that how much the person is able to give back the loan.
State Bank is given the challenge to all banks to give loan up to specific target. If bank
can not able to fulfill the target then he has to pay aplenty.

8 hours (9 to 5) hrs 28th August -Monday

Agriculture Loan documentation:

Agriculture loan documentation includes the following documents.

• Inter office memo

• Pass book
• Vetting certificate by lawyer (legal opinion of giving loan)
• Offer letter for rural finance
• Acknowledge and acceptance
• Undertaking by customer
• Facility approval sheet(terms and conditions)
• Confidential credit report
• Our recommendation
• Rural finance credit line proposal
• Farad
• Gardwari
• Zeer bar certificate
• Certificate of being actual pass book
• Visit report
• Home financial report

COMSATS INSTITUTE OF INFORMATION

TECHNOLOGY
 • Application of loan y customer
• Security details
• Borrower’s basic fact sheet for individual/customers
• Personal financial statement
• State bank of Pakistan consumer protection department
• AKS shajra
• Last pass book cancellation certificate
• 3 years average sales value of that land part under a single patwrri
• Agriculture production/development finance
There are a 4 page pages document include in which, IB7, promissory note, letter of
continuity.

8 hours (9 to 5) hrs 29th August -Wednesday

Today I see the main products of the Bank Alfalah Ltd that they are providing to the
customer.
The Bank Alfalah Ltd is providing some services as consumer banking this will helpful
for the consumer to complete their work on time. As money gram, alfalfa education, and
kisan ki falah etc

Money Gram: USA based company used to transfer the money through fastest way
between boarders. It is an USA company having 170 outlet al round the world. Bank
Alfalah Ltd only using the facility to receive the money from outside countries but we
can’t do the transaction of sending money across the boarder.
When money is transacted or remittance then three things have to check.
1-who is remitter?
2-what is the Pin Code?
3-who is receiver?

COMSATS INSTITUTE OF INFORMATION

TECHNOLOGY
When sender send the money eight digit code is generate. When receiver came to get
money he has to tell that code, two copies of NIC and name of sender. There is some
more information that Bank Alfalah Ltd is required as keep in record as date of birth,
name and NIC # of sender and the amount. The requirement of record provided with
Amount.

Alfalah Education:
Till now there is no education account in the Bank Alfalah Ltd. .But it is
developed and used in the other brunches of Bank Alfalah Ltd.
It is a term deposit account all the details are same as normal saving account. Least
requirement of account is from 100,000 to 1,000,000.

Kisan ki falah:
This is the agric finance which is given are own customer by opening
their account as loan account and they have one advantage of not maintaining the specific
amount in account.Because this is a loan account. This is helpful to kisan for more
production and development.
Then I spend my remaining time on CRO seat.

4 hours (9 to 12:30) hrs 30th August -Thursday

Today sir give me information about the Letter Of Credit. What is LC and how
it works.

Letter of credit: a letter which include the terms and condition of import or export.
Between the boarders it means from one port to another. From port to store L/C is not
concerned.
Types Of Lc
L/C used within boarders called local L/C or in land L/C.
There are two Types of L/C

COMSATS INSTITUTE OF INFORMATION

TECHNOLOGY
 1- Irrevocable L/C: A type of agreement which can never be back.
2-Revocable L/C: A type of agreement which can be change with time or conditions.

Irrevocable is used in Pakistan but revocable is not used now.

8 hours (9 to 5) hrs 31st July -Friday

Today I work in Remittance department because I have to know some of terms in that
department just as clearing

Clearing has also two types

1-Outward Clearing
2- Inward Clearing

1-Outward clearing: we receive cheques of other banks from our customers. Through
NBP (national bank of Pakistan) it has no charges .we check the cheques appurtenant
which include date, amount both in figures and words, signature of customer. We do
stamping as on front of cheques special crossing to make it our own entity, and clearing
(date will be of next day) as it takes 24 hours to be process, signature verification, Bank
smart, Bank special crossing stamp and on back the stamp of payees account will be
credited.
We do the transaction against it as we credit the account from NBP and debit the
Customer account. After realization the transaction goes back .if inward clearing return
we reverse the transaction too.
We send this for clearing to NBP they give it to related bank.
I see the whole process and documentation of this process then do some stamping too.

8 hours (9 to 5) hrs 1st August -Saturday

Today I am again in the remittance department and know about the inward clearing

COMSATS INSTITUTE OF INFORMATION

TECHNOLOGY
2-Inward Clearing:
In it we receive the cheques from other banks which are of us through NBP.
We check the appurtenant of cheques then also check the customer bank account
condition. It should be less than 6 months duration. We pass the transaction as we
directly debit the customer account and directly credit our bank account from NBP
account.

DD (demand draft): for IBC we make a DD if bank is any other then al-falah .if it is
from the Al-Falah bank then we make OBC. We debit the customer and from general
ledger we credited our account.
DD particulars include

Amount of draft
Commission on DD
Courier Charges
F.excise Duty recovered

This will send to other bank then they pay money in the account only. This is written on
the draft. Today I complete my fourth week of internship

COMSATS INSTITUTE OF INFORMATION

TECHNOLOGY