BANK ALFALAH LIMITED

INTERNSHIP REPORT ON BANK ALFALAH limited

SUBMITTED BY: Muhammad Shakir

SESSION: 2023_27

DEPARTMENT: Accounting And Finance

Islamia university of Bahawalpur

 BANK ALFALAH LIMITED

DEDICATION
Wholeheartedly dedicate this report to my beloved parents, whose
unconditional love, endless prayers and unwavering support have always been
the guiding light in my life. Are the true source of my strength and courage,
inspiring me to overcome every challenge with determination their continuous
devotion and sincere prayers have paved the way for my better future and
success. without their encouragement and sacrifices, this achievement would
not have been possible.
 BANK ALFALAH LIMITED

PREFACE
The transition between the student life and the professional life is an extremely
important Phase in one’s personality development. It is this very transition, in
which, most of the people get disoriented and forget the prime purpose of
entering in a professional setting. Internship plays a vital role in filling out that
transitional gap. It draws out our inner abilities and brings the confidence in you
to face the initial challenges of professional life.

The purpose of this internship is to acquaint the students with practical

applications of theoretical concepts, the internship in Bank Alfalah Limited is
personally arranged by my own resources and the department gave me a letter
for getting this internship. Really, it was a nice opportunity to have a close
comparison of theoretical concepts in the practical field, involving the use of
primary and secondary data this report may depict deficiencies on my part but
still it is an output of my efforts, for which I beg pardon. The output of my
analysis is summarized in a shape of Internship the contents of the report Shows
the detail of the sequence of these the report concludes with problems and
suggestions.
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ACKNOWLEDGEMENT
All praise to Almighty Allah, the most merciful and compassionate, who gives me
skills and abilities to complete this report successfully. I am grateful to my
parents who have 3 always been a source of encouragement for me throughout
my life and from start to the end of this report I feel deeply indebted to all my
teachers for provision of in estimable, priceless and valuable cooperation and
support it is great pleasure for me to acknowledge our deepest Sense of
gratitude and humble thanks to my worthy Area Manager “Shehryar Orakzai”
Area Operation manager M.Khalid israr, branch manager “Jawad Khan’’ And
Operational manager “Muhammad irfan ” (OM) for being kind enough to extend
his baseline guidance.
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EXECUTIVE SUMMARY
Bank Alfalah Limited is one of Pakistan’s leading private commercial banks,
owned by the Abu Dhabi group. Since starting operations in 1997, the bank has
grown into a strong and trusted financial institution with a wide branch network
across Pakistan and an international presence in several countries. It offers a full
range of services including retail and corporate banking, SME and agricultural
finance, Islamic banking, investment solutions, remittances, and innovative
digital banking platforms such as the Alfa App. With a focus on customer service,
digital innovation, and corporate social responsibility, Bank Alfalah continues to
play a key role in driving financial growth and inclusion in Pakistan. The main
purpose of an internship is to learn, by working in a 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 financial, technical, managerial and
strategic aspects have been evaluated to analyze the current position of the
organization.
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Sr. No Table of content Page No

1 Introduction of ALFALAH BANK Limited 7
2 objectives 9
3 Main office 10
4 Overview of organization 11
4.1 History of Bank Alfalah Limited 11
4.2 Development phase 11
4.3 Nationalization phase 12
4.4 Privatization Phase 12
4.5 Present position oh Bank Alfalah Limited 13
5 Awards and Achievements 14
6 NATURE OF THE ORGANIZATION 15
6.1 Corporate finance 15
6.2 Trading and sales 16
6.3 Retail and consumer banking 16
6.4 Commercial banking 16
7 NUMBERS OF EMPLOYEES & TYPES OF ACCOUNT 17 - 26
8 ALFALAH ASSET MANAGMENT 27
9 ALFALAH ONLINE SERVICES 28 & 29
10 Vision Statement 30
11 Mission Statement 30
12 Core Values 31
13 ALFALAH Bank Hierarchical Chart] 32
14 Competitors of Bank Alfalah Limited 33
15 Code of conduct 34,35,36
16 Product and Services or types of account 17
17 Departments 37-41
18 Plan of internship program 42-44
19 Duration of my internship program 44-46
20 SWOT Analysis 46-48
21 Recommendation and Suggestions 49
22 Conclusion 50
23 References 51 57
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1.Introduction of Bank ALFALAH limited

Bank Alfalah Limited is one of the largest private commercial banks in Pakistan,
operating under the ownership of the Abu Dhabi Group. Established in 1997, the
bank has grown into a strong and reputable financial institution with a wide
network of over 1,000 branches across more than 200 cities in Pakistan, along
with international presence in countries like Afghanistan, Bangladesh, Bahrain,
and the UAE. It offers a comprehensive range of financial products and services,
including retail and corporate banking, SME and agricultural finance, Islamic
banking, investment solutions, remittance services, and cutting-edge digital
banking through platforms like the Alfa App. Known for its focus on customer
satisfaction, innovation, and corporate social responsibility, Bank Alfalfa plays a
significant role in promoting financial inclusion and supporting economic growth
in Pakistan. The bank operates an extensive network of over 1,000 branches in
more than 200 cities across Pakistan, along with an international presence in
Afghanistan, Bangladesh, Bahrain, and the United Arab Emirates. This
widespread reach allows the bank to serve millions of customers, including
individuals, small and medium enterprises (SMEs), large corporations, and
institutional clients.
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Bank Alfalah offers a diverse portfolio of products and services, such as savings
and current accounts, consumer and business loans, trade financing,
remittances, credit and debit cards, and Islamic banking solutions. In addition,
the bank has embraced technological innovation through its Alfa App and other
digital platforms, enabling customers to perform secure and convenient
transactions anytime, anywhere. The bank is committed to upholding the highest
standards of customer service, ethical banking practices, and corporate social
responsibility. Its contributions in areas like education, healthcare,
environmental sustainability, and community development reflect its mission to
go “Beyond Philanthropy.” With its customer-centric approach, technological
advancement, and focus on financial inclusion, Bank Alfalfa continues to play a
vital role in supporting Pakistan’s economic growth and development.
 BANK ALFALAH LIMITED

2. Objectives
This internship offers me an incredible opportunity to gain real-world experience
in the High-stakes finance industry. The primary objective of the project is to
forecast or determine the actual financial status and performance of an
organization following are important objectives of studying the organization.

• To learn about Capital Adequacy, Asset and Liability Management, Interest

Rate Risk, Liquidity, Asset Quality & Profitability of a bank.

• To monitor the adequacy and effectiveness of the internal control system and
financial reporting framework.

• Assessment of the company’s financial condition through the financial

statements.

• Analyzing savings and investment trends in the banking sector.

• To describe the impact of financial decisions on the health and functioning of

the overall organization.

• To examine the Innovations in customer service in banking.

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3. Main Office
Head office:

6th floor, State Life Building No1, Chundriger Road, Karachi, Pakistan

The Principal office, share registry, and corporate finance are all these

offices are in the Head office.

Bank also has a representative office in ABU DHABI.

Phone: +92-21-111-225-111
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4. Overview of the organization

4.1 BRIEF HISTORY OF THE ORGANIZATION

The history of Alfalah can be divided into four main Phases:

• Development Phase

• Nationalization Phase

• Privatization Phase

• Present position

4.2 DEVELOPMENT PHASE:

In 1997, the Abu Dhabi Group acquired three branches of Habib Credit &
Exchange Bank, rebranded the entity as Bank Alfalah, and began operations in
November 1997. From 1997 to around 2000, the bank focused on consolidating
its base, studying the market, and building its initial presence . Around 2003–04,
Alfalah introduced innovative retail offerings like five-year auto financing with
fixed rates, home mortgages with initial fixed interest, and credit cards branded
“Free Forever” .

4.3 NATIONALIZATION PHASE

During General Zulfikar Ali Bhutto’s administration, the government nationalized
major banks on 1 January 1974, including Habib Bank, United Bank, Allied Bank,
MCB, among others. Bank Alfalah did not exist at that time—it was only
established decades later.
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In July 1997, the Abu Dhabi Group acquired a 70% stake in HCEB through a
privatization auction, renaming it Bank Alfalah. This purchase was not
nationalization but a clear case of privatization. Subsequently, the remaining
30% stake held by the Pakistani government was sold off to the Abu Dhabi Group
in July 2019, making the bank fully privately owned.

4.4 PRIVATIZATION PHASE

Before Bank Alfalah existed, there was Bank of Credit and Commerce
International (BCCI). In 1991, BCCI collapsed worldwide due to financial scandals.
In Pakistan, three branches of BCCI were taken over by the State Bank of
Pakistan (SBP). SBP restructured and renamed them Habib Credit and Exchange
Bank (HCEB). By the mid-1990s, Pakistan’s government was privatizing several
state-owned banks. In July 1997, the government decided to privatize HCEB. The
Abu Dhabi Group (a UAE-based investment group) participated in the
privatization auction and acquired a 70% stake in HCEB. This acquisition officially
marked the birth of Bank Alfalah Limited.
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4.5 Present position of Bank Alfalah Limited

According to 2023 figures, Bank Alfalah ranks among the top private banks in
Pakistan with:

Total assets: PKR 3,346 billion

Revenue: PKR 154 billion

Profit after tax: PKR 36.5 billion

The bank has shifted its deposit strategy toward growing current account (zero-
cost) and evenly distributed (sticky) deposits, helping manage interest cost
pressures. In response to market dynamics, it's prioritizing low-risk corporate
lending while gradually expanding into consumer finance, and continuing to
support SMEs and agricultural segments for financial inclusion. While
profitability has dipped in H1 2025 due to rising operating expenses and
diminished fee-based income, the bank remains financially resilient—its capital
cushions and strategic alignments are favorable.
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5. AWARDS & ACHIEVEMENT

2025 International Finance Awards: Fastest Growing Corporate Bank – Pakistan

2024 Islamic Retail Banking Awards, Dubai: Best Emerging Islamic Retail Bank –
Pakistan

2023 Asian Banking & Finance Awards: Domestic Technology & Operations Bank
of the Year – Pakistan

2022 Asiamoney: Best Bank for SMEs – Pakistan

2021 Asian Banking & Finance Awards: Domestic Technology & Operations Bank
of the Year – Pakistan

2020 Euromoney Awards: Excellence in Corporate Banking – Pakistan

2019 Asiamoney: Best Bank for SMEs – Pakistan

2018 The Asset Triple a Country Awards: Best Islamic Retail Bank – Pakistan

2017 PBA Best Practice Awards: Best CSR Program in Banking Sector

2016 Asian Banking & Finance Awards: Domestic Technology & Operations Bank
of the Year – Pakistan

2015 Euromoney: Best Bank in Pakistan

2014 Asiamoney: Best Domestic Bank – Pakistan

2013 Euromoney: Best Bank in Pakistan

2012 The Asset Triple a Country Awards: Best Bank – Pakistan

2011 PBA CSR Awards: Best Social Responsibility Initiative

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2010 MMT Awards: Outstanding Mobile Banking Innovation

2009 The Asset: Best Domestic Bank in Pakistan

2008 Euromoney: Best Bank in Pakistan

2007 The Banker: Bank of the Year – Pakistan

2006 Asiamoney: Best Domestic Bank – Pakistan.

6. NATURE OF THE ORGANIZATION

BANK Alfalah Limited is a banking company incorporated in Pakistan and is
engaged in commercial banking and related services. The Bank’s ordinary shares
are listed on all the stock exchanges in Pakistan whereas it’s Global Depository
Receipts (GDRs) representing two ordinary shares are traded on the
International Order Book (IOB) system of the London Stock Exchange. Bank
Alfalah Limited is a Pakistan-based company. The Bank operates in four business
segments:

• Corporate finance

• Trading and sales

• Retail and consumer banking

• Commercial banking

6.1 CORPORATE FINANCE

Corporate finance includes underwriting, securitization, investment banking,
syndications; initial public offerings (IPO) related activities (excluding
investments) and secondary private placements.
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6.2 TRADING & SALES

The trading & sales segment includes fixed income, equity, foreign exchange
commodities, lending to financial institutions and brokerage debt.

6.3 RETAIL & CONSUMER BANKING

Retail & consumer banking includes retail lending and deposits, banking services,
private lending and deposits, banking services and retail offered to its retail
customers and small and medium enterprises.

6.4 COMMERCIAL BANKING

Commercial banking segment includes project finance, export finance, trade
finance, Leasing, lending, guarantees and bills of exchange relating to its
corporate customers. Bank Alfalah’ Commercial Banking division provides
financial products and services designed for small businesses, medium-sized
enterprises, and large corporate clients. It helps businesses manage their day-to-
day financial needs, such as accessing working capital, financing business
expansion, and supporting import or export activities through trade finance
facilities like letters of credit and guarantees. The bank also offers tailored loan
solutions, cash management services, and digital banking tools to ensure smooth
business operations. Additionally, it provides specialized options such as Islamic
banking products, agricultural financing, and project-based funding, enabling
businesses across different sectors to grow and operate efficiently.
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7.TYPES OF ACCOUNT
Current Account:

Alfalah Kamyab Karobar Account

Is a business current account offered by Bank Alfalah and is tailored specifically

to meet the complex financial needs of business customers.

Alfalah PKR Current Account

Is a non-interest-bearing checking account designed to address the day-to-day
transactional needs of salaried individuals and small business.

Alfalah basic banking Account

Is a non-interest-bearing transactional current account offered by Bank Alfalah,
tailored for low-income or small depositors who need a simple, cost-effective
way to bank.

Alfalah Asaan Remittance Current Account

This account is a non-interest transactional current account designed to let you
receive remittances from abroad quickly and conveniently, with minimal
documentation and no minimum balance requirement.
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Alfalah FYC Current Account

The Alfalah FCY current account is a non-profit, foreign-currency transactional

account that supports both domestic and international transactions in multiple
currencies with excellent convenience.

Alfalah Asaan Current Account

The asaan current account is a non-interest, freely accessible current account

offered by Bank Alfalah, designed to provide easy, cost-effective banking with
minimal requirements. It’s tailored for those who value simplicity and flexibility.

Alfalah Kashtkaar Current Account

The Kashtkaar current account is a non-interest-bearing transactional account

designed for farmers and agribusinesses. It aims to support their financial needs
through streamlined access, digital banking, and agri-specific financing benefits.

Alfalah Saving Account

Alfalah care Account

The Alfalah care account is a savings account tailored specifically for senior
citizens, offering attractive monthly returns alongside convenient, fee-friendly
banking features.

Alfalah Royal Profit Account

The royal profit account combines the flexibility of a current account with the
profit-earning potential of a savings account, particularly suited for individuals or
institutions handling large transaction volumes aiming for elevated returns.
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Alfalah Kefayat Account

The Kefayat account is a monthly profit-paying savings account combining

accessibility, attractive returns, and convenient banking tools. It’s ideal for
individuals seeking regular earnings with seamless transactional access.

Alfalah PLS Savings Account

The Alfalah PLS savings account is a profit-bearing savings account based on the
Profit and Loss Sharing (PLS) principle, where profit is calculated on the monthly
average balance and paid semi-annually.

Alfalah FCY Saving Account

A Bank Alfalah savings account in foreign currencies (such as USD, GBP, EUR,
AED, etc.) that allows you to save money and earn profit in the same currency.

Alfalah Asaan Saving Account

Alfalah asaan saving account is a basic savings account designed for individuals
with minimal documentation requirements, offering convenient banking and
profit on deposits.

Alfalah FCY Monthly Saving Account

The Alfalah FCY (Foreign Currency) Monthly Savings Account is a savings account
offered by Bank Alfalah that allows individuals (and companies) to hold and save
money in foreign currencies—specifically US Dollar (USD), Pound Sterling (GBP),
Euro (EUR), and UAE Dirham (AED).
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Alfalah Asaan Pehchaan Digital Saving Account

Alfalah asaan Pehchaan Digital account is an easy-to-open online account that

allows individuals to perform banking transactions digitally with minimal
documentation, designed for convenience and accessibility.

Alfalah Institutional Royal Saving Account

Alfalah Institutional royal saving account is a premium savings account tailored

for institutions, offering competitive profit rates and exclusive banking services
to manage large-scale deposits efficiently.

Alfalah Institutional Royal Profit Account

Alfalah Institutional royal profit account is a premium profit-bearing account for

institutions, offering high returns on large deposits along with exclusive banking
services and benefits.

Alfalah Pehchaan Saving Account PKR

Alfalah Pehchaan saving account PKR is a savings account in Pakistani Rupees

designed for individuals, offering profit on deposits along with convenient
banking services and minimal documentation requirements.

FIXED DEPOSIT ACCOUNT

Alfalah Mahana Amdan Term Account

Alfalah Mahana Amdan term account is a fixed-term deposit account that

provides customers with a guaranteed monthly income in the form of profit
payouts on their investment.
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Alfalah Floating Term Deposit

Alfalah Floating term deposit is an investment account where the profit rate is
linked to the prevailing market rates, allowing returns to fluctuate during the
deposit period.

Alfalah FCY Term Deposit

Alfalah FCY term deposit is a fixed-term investment account in foreign currency,

offering a guaranteed return over a set period at predetermined profit rates.

Alfalah Care Senior Citizen Amdan Account

Alfalah Care Citizen Amdan account is a savings account designed for senior
citizens, offering regular income through profit payouts along with exclusive
banking benefits.
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7. NUMBERS OF EMPLOYEES
BOARD OF DIRECTORS

Name Designation

H.H Sheikh Nahayan Mabarak AL Nahayan Chairman

Mr. Atif Aslam Bajwa President and CEO

Name Designation

Mr. Abdullah Nasser Hawaileel AL Mansoori Director

Mr. Abdullah Khail AL Mutawa Director

Mr. Khalid Mana Saeed AL Otaiba Director

Dr. Ayesha Khan Director

Dr. Gyorgy Tamas Ladics Director

Mr. Khalid Qurashi Director

Mr. Efstratios Georgios Arapoglou Director

KEY MANAGEMENT

Board Audit Committee

Mr. Khalid Qurashi Chairman

Mr. Abdullah Khail AL Mutawa Member

 BANK ALFALAH LIMITED

Mr. Khalid Mana Saeed AL Otaiba Member

Dr. Ayesha Khan Member

Mr. Efstratios Georgios Arapoglou Member

Mr. Tahir Khurshid Secretary

Board Human Resource Committee

Mr. Efstratios Georgios Arapoglou Chairman

Mr. Abdullah Khail AL Mutawa Member

Mr. Khalid Mana Saeed AL Otaiba Member

Dr. Ayesha Khan Member

Dr. Gyorgy Tamas Ladics Member

Mr. Khalid Qurashi Member

Mian Ejaz Ahmad Secretary

Board Risk Management Committee

Mr. Khalid Mana Saeed AL Otaiba Chairman

Mr. Abdullah Khail AL Mutawa Member

Mr. Khalid Qurashi Member

Dr. Ayesha Khan Member

 BANK ALFALAH LIMITED

Mr. Efstratios Georgios Arapoglou Member

Mr. Atif Aslam Bajwa Member

Mr. Farhan Ali Secretary

Board Strategy and Finance Committee

Mr. Abdullah Khail AL Mutawa Chairman

Mr. Khalid Mana Saeed AL Otaiba Member

Dr. Gyorgy Tamas Ladics Member

Dr. Ayesha Khan Member

Mr. Khalid Qurashi Member

Mr. Efstratios Georgios Arapoglou Member

Mr. Atif Aslam Bajwa Member

Mr. Aasim Wajid Jawad Secretary

Board Crisis Management Committee

Mr. Abdullah Khail AL Mutawa Chairman

Mr. Khalid Mana Saeed AL Otaiba Member

Mr. Khalid Qurashi Member

 BANK ALFALAH LIMITED

Dr. Ayesha Khan Member

Dr. Gyorgy Tamas Ladics Member

Mr. Atif Aslam Bajwa Member

Mian Ejaz Ahmad Secretary

Board Real Estate Committee

Mr. Abdullah Khail AL Mutawa Chairman

Mr. Khalid Mana Saeed AL Otaiba Member

Mr. Khalid Qurashi Member

Mr. Atif Aslam Bajwa Member

Mian Ejaz Ahmad Secretary

Board information Technology

Dr. Gyorgy Tamas Ladics Chairman

Mr. Abdullah Khail AL Mutawa Member

Mr. Khalid Mana Saeed AL Otaiba Member

Mr. Khalid Qurashi Member

 BANK ALFALAH LIMITED

Mr. Efstratios Georgios Arapoglou Member

Mr. Atif Aslam Bajwa Member

Mr. Aasim Wajid Jawad Secretary

Chief Financial Officer

Anjum Hai

Legal Advisors

Mandviwalla & Zafar Advocates and Legal Consultant

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8.Alfalah Asset Management

Alfalah Asset Management Limited (AAML), formerly known as IGI Funds

Limited, is one of Pakistan’s leading asset management and investment advisory
firms. It is a wholly owned subsidiary of Bank Alfalah Limited, which is part of the
Abu Dhabi Group – one of the most prominent business groups in the Middle
East and South Asia. AAML is licensed and regulated by the Securities and
Exchange Commission of Pakistan (SECP) and offers a wide range of investment
solutions tailored to meet the needs of individual and institutional investors.The
company manages various mutual funds, pension funds, and investment plans
that cater to different risk appetites and financial goals. These include money
market funds, income funds, equity funds, balanced funds, Islamic Shariah-
compliant funds, and voluntary pension schemes. Alfalah Asset Management
emphasizes transparency, compliance, and professional fund management to
ensure optimal returns for its investors.With a robust research and investment
process, AAML combines fundamental analysis, risk management, and market
insights to build strong portfolios. It places a strong emphasis on investor
education and financial awareness through workshops, seminars, and digital
platforms. Its user-friendly mobile app and online portal also allow for
convenient and efficient investment tracking and management.AAML’s
commitment to innovation, integrity, and customer-centric services has earned it
a reputation as a trusted name in Pakistan’s financial sector. Whether it’s wealth
accumulation, retirement planning, or capital preservation, Alfalah Asset
Management provides a diverse range of products to help investors achieve their
long-term financial objectives.
 BANK ALFALAH LIMITED

9.Alfalah Online Services

ATM Services

Bank Alfalah ATMs are available 24/7 across Pakistan. You can withdraw cash,
check your balance, transfer funds, or pay utility bills anytime, without needing
to visit a branch. It's quick, easy, and perfect for everyday banking needs.

Visa Debit Card

The Alfalah Visa Debit Card lets you shop in stores and online, both in Pakistan
and internationally. It’s linked directly to your bank account, so the amount is
deducted instantly. It’s a secure and convenient way to pay without using cash.

Credit Card Services

With Bank Alfalah Credit Cards, you get flexible payment options, installment
plans, discounts, and reward points. You can use the card locally or globally. It’s
ideal for managing big purchases or traveling, while enjoying exclusive deals.

Online Banking

Bank Alfalah’s Internet Banking allows you to manage your account from your
computer. You can transfer money, pay bills, check your statement, and even
apply for financial products. It’s safe, simple, and saves you time.
 BANK ALFALAH LIMITED

Mobile Banking – ALFA App

The Alfa App brings your bank into your pocket. Through your smartphone, you
can send money, pay bills, buy mobile top-ups, book tickets, and even invest. It’s
user-friendly and available 24/7—perfect for people on the move.

Bill Payment Services

Paying bills has never been easier. With Bank Alfalah’s ATM, online banking, or
Alfa App, you can pay electricity, gas, water, internet, and phone bills in just a
few taps—no need to stand in long queues.

Fund Transfers

You can transfer money to any Bank Alfalah account or even other banks using
IBFT (Inter-Bank Funds Transfer) through online banking or the Alfa App. It’s
instant, secure, and can be done anytime, day or night.

E-Statements and Alerts

Bank Alfalah provides free e-statements and SMS/email alerts for your
transactions. This helps you track your spending and stay updated on all account
activities in real-time, enhancing security and financial control.
 BANK ALFALAH LIMITED

11.Vision Mission Statement

Vision Statement

To inspire and empower people to do things differently and shape their own
path in life and business.

Mission Statement

We look at the market with fresh eyes to find new opportunites, and seek new
ways of enabling our customers to succeed and advance the world of finance.
 BANK ALFALAH LIMITED

12.Core Values

Integrity

We are the trustees of public funds and serve our community with integrity. We
believe inbeing the best at always doing the right thing. We deliver on our
responsibilities and commitments to our customers as well as our colleagues.

Innovation

We encourage and reward people who challenge the status quo and think
beyond the boundaries of the conventional. Our teams work together for the
smooth and efficient implementation of ideas and initiatives.

Excellence

We take personal responsibility for our role as leaders in the pursuit of

excellence. We are a performance driven, result oriented organization where
merit is the only criterion for reward.

Customer Centricity

Our customers are at the heart of everything we do. We thrive on the challenge
of understanding their needs and aspirations, both realized and unrealized. We
make every effort to exceed customer expectations through superior services
and solutions. RespectWe respect our customers’ values, beliefs, culture and
history. We value the equality of gender and diversity of experience and
education that our employees bring with them. We create an environment
where each individual is enabled to succeed.
 BANK ALFALAH LIMITED

13.Alfalah Hierarchical Chart

 BANK ALFALAH LIMITED

14.Competitors of Bank Alfalah limited

Bank HBL :(https://www.hbl.com/)

MCB Bank:(https://www.mcb.com/)

JS Bank :(https://jsbl.com/)

Soneri Bank :(https://www.soneribank.com/)

Silkbank :(https://digital.silkbank.com/)

BankIslami :(https://bankislami.com.pk/)

Meezan bank :(https://www.meezanbank.com/)

Faysal bank:(https://www.faysalbank.com/en/islamic/)

Bank of punjab (BOP):(https://www.bop.com.pk/BoP)

 BANK ALFALAH LIMITED

15.Code of Conduct

All the bank employees should follow this code of conduct:

1. Abidance of Laws and Policies: All employees are required to strictly follow
the bank’s internal rules and policies, as well as the laws and regulations set by
the State Bank of Pakistan and relevant authorities. Obedience to lawful
instructions is mandatory.

2. Integrity: Employees must uphold the highest standards of honesty and ethics
in all professional dealings. Any knowledge of fraud, misconduct, or violation of
regulations must be reported immediately to senior management.

3. Professionalism: Each employee is expected to serve the bank faithfully and

promote its goodwill. Interactions with customers, regulators, and external
institutions must reflect professionalism and respect.

4. Conflict of Interest: Employees must avoid any personal interests that may
conflict with the bank’s objectives. In case of a potential conflict, it must be
declared and handled transparently under management guidance.

5. Relatives and Close Friends: Decisions involving relatives or close personal

relationships must be avoided to prevent bias. Employees should disclose such
situations to their line manager and step aside from involvement.

6. Political Participation: Employees are prohibited from participating in political

activities, joining political parties, or influencing any election process using their
position at the bank.

7. Gifts and Favors: Accepting gifts or personal benefits that exceed normal
business etiquette is strictly discouraged. Any substantial gift received must be
reported to the immediate supervisor within three working days.
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8. Confidentiality: All employees are obligated to maintain strict confidentiality

regarding customer data, bank information, and internal operations, both during
and after employment. Disclosure is only permitted under legal or authorized
requirements.

9. Insider Trading: Employees are not allowed to use non-public information for
personal or third-party financial gain. Trading on inside information or sharing it
with others is strictly prohibited.

10. Bribery and Corruption: Employees must not engage in any corrupt
practices, including offering or accepting bribes, misusing authority, or seeking
unfair advantages through unethical means.

11. Workplace Ethics: Bank Alfalah limited maintains a zero-tolerance policy

against discrimination, favoritism, or harassment. A respectful and inclusive work
environment is to be upheld at all times.

12. Gender Sensitivity and Harassment Policy: All employees must respect the
privacy and dignity of colleagues, particularly female staff. Any form of
harassment or inappropriate behavior is unacceptable and punishable.

13. Media and Public Communication: No employee is allowed to represent the

bank in media or public forums without official permission. All communications
must be truthful and authorized.

14. Use of Bank Resources: Official tools like internet, phones, and emails must
be used strictly for professional purposes. Misuse of communication channels for
offensive, illegal, or personal reasons is prohibited.
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15. Reporting and Accountability: All records and transactions must be accurate,
complete, and timely. False documentation, fraudulent claims, or tampering with
records is a serious offense.

16. Attendance and Dress Code: Punctuality and adherence to Bank Alfalah
limited professional dress code are required. Unapproved absences or improper
attire can lead to disciplinary action.

17. Personal Responsibility and Asset Protection: Employees are responsible for
protecting the bank’s tangible and intangible assets under their control. Personal
use of bank resources without approval is not allowed.
 BANK ALFALAH LIMITED

17.Departments of Bank Alfalah Branch Tank

Clearing

Cash Department

Remittance Department

Account Department

Cash department

They collect cash from the depositors and make payments to the persons who
want to withdraw from their account or who receive money of foreign
remittance. This is the mostimportant and critical department in a Bank. There
are two basic functions performed by the cash department. These are

• Receipts

• Payments

Receipts

An individual who has an account in the Bank can deposit money in his account.
For the depositor of the money the individual has to fill the deposit slip in which
the account holder writes his name, Account number, amount of the money
both in figures and in words. After filling the deposit slip the Cash amount along
with the deposit slip is submitted with the cashier. The cashier collects the cash
and counts it and after verification the cashier stamps the deposit slip. One part
of the deposit slip is given back to the customer and the other part of the deposit
slip remains with the bank for the record purposes. The cashier also record the
deposits made by the customers in credit sheets daily.
 BANK ALFALAH LIMITED

The deposits of all customer of the bank are controlled by the Ledger account.
Every customer has its own ledger account andhas separate ledger cards in
which his / her total record is kept. Bill collection is also one of the main
functions of a bank. The cashier has to prepare a list of bills‟ serial number, a
copy of which is to be sent to the corresponding organization.

Payments

The procedure of clearance of a cheque or payments is as follows. First of all the

Customer presents his cheque to the cashier. The cashier records the account
number and the amount, which is to be drawn. Then the cashier check the
cheque number in the computer for the verification whether the account holder
has such amount in his account which he is demanding or not. If the computer
passes the cheque, the Passing officer signs the cheque and sent it to the cash
counter then cashier pays the written amount to the customer and then in the
end the cashier records the amount paid on the computer.

Branch Cash Balance Register

The Tellers make entry in their respective Cash Proof Sheet against receipt and
payment of cash which then jotted down to the Reserve Cash Proof Sheet Teller
wise. The closing cash balance of the day is calculated by adding the opening
cash balance with total amount of cash received minus total amount of cash
paid. The particular of bank's cash balance at the close of business of the day is
entered in to the Cash Balance Register. This Register is signed by the Head
Teller/Cash In-Charge, Joint Custodian and Manager/Deputy Manager jointly.
The physical cash will be checked by the joint custodians/Manager before signing
of the Register. The closing cash balance must agree with the Clean Cash Report
and Statement of Affairs of the day.
 BANK ALFALAH LIMITED

Maintenance of Vault Book

A Vault Book is maintained in the branch which must always remain in the Strong
Room. All notes and coins are entered in the vault book immediately after
proper sorting. Ever deposit and withdrawal of cash from the vault/Iron safe
should be entered in to the vault book denomination wise. The vault book is to
be initialed by all the custodians of cash jointly against each entry. Deposit and
withdrawal of cash from the vault/Iron safe is to be regulated as per the
insurance limit of the cash (Cash in safe, Cash on counter, Cash in transit).

Safe Custody of Cash

After completion of the above mentioned functions, if cash is found physically in

order at close of business of the day, the entire cash is kept in the bank's safe
vault (Iron safe). The Iron safe is double locked by all the custodians including
Head Teller/Cash-In-Charge and Manager/Deputy Manager. When the vault is
opened, all the custodians must be present. The Cash Balance Register, Vault
Book should be kept in the safe vault. Other important documents/sheets should
be kept in the strong room.

Clearing Department

Clearing means collection of cheque receive from our customers but drawn on
other banks. Receiving the instruments deposited by customers Posting the
amount of instruments in credit of customer’s account If cheque returns from
the concerned bank, the customer account is debited. Crossing stamp is put on
the instrument and slip given to customer on receipt of the instrument. Clearing
stamp and “payee account credited” are put on the instrument and the voucher.
Clearing House has provided this facility. Clearing house facilitates different
 BANK ALFALAH LIMITED

banks, In one city, to get their cheque drawn upon other banks to be cleared.
Cheque lodged in clearing constitute in clearing constitute two types of clearing:

• Outward Clearing

• Inward Clearing

REMITTANCE DEPARTMENT

Bank Alfalah’s Remittance Department offers fast, reliable, and fee-free

remittance services to beneficiaries across Pakistan through an extensive
network of over 850 branches . Overseas senders use partner money transfer
operators like Western Union, MoneyGram, Small World, and others. Recipients
have multiple convenient options:

ACCOUNTS DEPARTMENT

Opening of account is the most important department of the Branch as this is a

contract between the customer and bank. All future transaction/operation are
carried out as per this contract and any deviation may jeopardize the bank’s
interest. The opening of a new account is the establishment of customer banker
relationship. By 34 opening an account at a bank, a person becomes a customer
of the bank. The customers can open following accounts:

• Current Account (CD A/C)

• Profit and loss sharing Account (PLS A/C)

• Basic Bank Account (BBA A/C) Fixed Deposit (FDR/TDR)

 BANK ALFALAH LIMITED

Account Opening

When a client comes to the bank, and makes a request for opening of an A/C.
The officer says that first fill up a prescribed application form. If he/she wants to
open a PLS A/C, then he/she has to fill a form according to the account.

Requirements

• ID Card of applicant

• ID Card of father, mother, brother, sister, husband or wife

• Student card (if applicant is student)

• Two photos for illiterate person or those who use Urdu signatures

Documents Attach with A/C Opening From

• A/c opening form

• Specimen signature card

• Zakat form (for non-muslims)

• Deposit slip

• Requisition form
 BANK ALFALAH LIMITED

18.Plan of internship program

Introduction of Bank Alfalah limited

Bank Alfalah Limited is one of the largest private banks in Pakistan, recognized
for its strong financial services, innovative digital solutions, and wide domestic
and international presence. Established in 1997, the bank emerged after the Abu
Dhabi Group acquired Habib Credit and Exchange Bank. Since then, it has
expanded rapidly, becoming a leading financial institution in Pakistan’s banking
industry.Headquartered in Karachi, Bank Alfalah operates a vast network of
more than 890 branches across 200+ cities in Pakistan, along with international
branches in countries like Bangladesh, Afghanistan, Bahrain, and the United Arab
Emirates. This wide outreach allows the bank to serve millions of customers,
ranging from individuals and small businesses to large corporations.

Bank Alfalah offers a comprehensive portfolio of services including retail

banking, corporate and investment banking, Islamic banking, SME financing,
consumer finance, and wealth management. It also plays a key role in facilitating
international remittances, partnering with global money transfer operators to
provide fast and reliable services to overseas Pakistanis and their families.One of
the bank’s major strengths lies in its digital innovation. Through its mobile
banking application “Alfa,” internet banking, and digital wallets, Bank Alfalah
provides convenient, secure, and user-friendly financial solutions. These
initiatives reflect its vision of becoming a forward-looking and customer-centric
institution.The bank has also gained recognition for its efforts in promoting
Islamic banking, offering Shariah-compliant products and services under its
dedicated Islamic banking division. Additionally, Bank Alfalah actively contributes
 BANK ALFALAH LIMITED

to Pakistan’s economic development by supporting infrastructure projects,

agriculture, and entrepreneurship through its financing schemes.Customer care,
financial inclusion, and corporate social responsibility are integral parts of Bank
Alfalah’s identity. The bank invests in community welfare, education, and
sustainability initiatives, aiming to create a positive impact beyond financial
services.

In recent years, Bank Alfalah has received multiple awards for its performance,
digital transformation, and service excellence, reinforcing its position as a
trusted banking partner in Pakistan.In summary, Bank Alfalah Limited is not only
a financial institution but also a symbol of growth, innovation, and trust. With its
strong foundations, diversified services, and commitment to technology and
customer satisfaction, the bank continues to play a pivotal role in shaping the
future of banking in Pakistan and beyond.

Hierarchy of Tank Branch in which I have done my internship

The branch in which I did my internship, Branch Manager, Mr.Jawad is on the

top, he controls the branch. His duty is to market the products of the bank. His
basic purpose is to build relationships with customers. After that there is an
operations manager, Mr.Irfan who controls all the employees working which is
done under her control. In short, he is performing and managing all the functions
of branch affairs. His duties are to deal with the customers; ractify the customers
complaints, to make audit reports and attend meetings etc. the other officers
include the account opening officers, clearing officers, remittance officers, and
the cashiers. All the other officers and cashiers work under the supervision of the
branch manager and operational manager.
 BANK ALFALAH LIMITED

Staff of the Tank Branch Consists 12 members

Designation No of employees

Branch Manager 1

Operation Manager 1

Cashier 2

R.E 1

Peons 2

Security Guards 5

19. Duration of my internship program

1st and 2nd Week

I started my first day of internship with the introduction of bank employees and
with the introduction of bank departments. This week I just know how work is
done in the various departments in the bank. I knew about the purpose of the
bank and the functions of the bank and judged the practical performance of the
departments.
 BANK ALFALAH LIMITED

3rd and 4th Week

First of all I started my work in the ACCOUNT OPENING DEPARTMENT of the

bank in which I learnt how an account can be opened in a bank, which
documents are necessary to attach it with the account opening form and how
many kinds of account are used in bank like

• Single

• Joint

• Personal

• Sole Proprietorship

5th and 6th Week

Then I moved towards the operation department. Functions performed under

this department are following.

Remittance

First of all I learned about clearing, clearing means to clear the cheques with the
help of a facility provided by NIFT. Clearing is a system by which banks exchange
cheques and other instruments drawn on each other within a specified area and
thereby secure payments for their clients through the clearing house at specified
time in an efficient way. In clearing operations the amounts of cheques of other
banks and the amounts of our own bank can be cleared by simply debiting or
crediting the specified branch accounts. In the facility there will be no use of
cash physically. In clearing department I learnt about,

Inward clearing
 BANK ALFALAH LIMITED

Outward clearing

Intercity clearing

Same day clearing

Special clearing

• I learnt how the transactions are made.

• I learnt how to write the inward clearing cheques in the transaction record
book.

• I learnt to deduct the return cheques from the added amount of all cheques.

20.SWOT Analysis

Strengths

Strong Ownership: Backed by the Abu Dhabi Group, which provides financial
stability and international credibility.

Wide Network: Over 890 branches in 200+ cities, with international presence in
UAE, Bahrain, Bangladesh, and Afghanistan.

Digital Leadership: Innovative mobile app “Alfa,” internet banking, and digital
wallets make it a leader in digital banking.

Diversified Products: Offers retail banking, corporate and investment banking,

Islamic banking, SME financing, wealth management, and remittances.

Reputation & Awards: Consistently recognized for performance, customer

service, and digital innovation.
 BANK ALFALAH LIMITED

Weaknesses

Customer Service Gaps: Delays and inconsistencies in branch services compared

to competitors.

Technology Dependence: Mobile app and online banking sometimes face

complaints of downtime or errors.

Limited Rural Reach: Despite a large network, some rural and remote areas are
still underserved.

High Competition: Faces tough competition from other strong private banks like
HBL, UBL, MCB, and Meezan Bank.

Opportunities

Growing Digital Banking Demand: Increasing smartphone and internet

penetration in Pakistan gives Alfalah room to expand digital services.

Islamic Banking Growth: Rising demand for Shariah-compliant products can

further strengthen its Islamic banking division.

Remittance Market Expansion: Partnerships with global operators (e.g.,

Western Union, Ria, MoneyGram) allow growth in home remittances.
 BANK ALFALAH LIMITED

Threats

1. Intense Competition – Bank Alfalah faces tough competition from other large
private and Islamic banks such as HBL, UBL, MCB, and Meezan Bank. These banks
are also expanding digitally and competing for the same customer base.

2. Economic Instability – Pakistan’s economy is facing inflation, currency

devaluation, and low investor confidence. Such conditions directly affect banking
operations, profitability, and customer spending power.

3. Cybersecurity Risks – With increasing dependence on digital banking and

mobile applications, the risk of cyberattacks, fraud, and data breaches is rising,
which could damage customer trust.

4. Regulatory Challenges – Frequent changes in government policies and

regulations by the State Bank of Pakistan (SBP) can create uncertainty, affecting
interest rates, profit margins, and lending policies.
 BANK ALFALAH LIMITED

21.Recommendations and suggestions

Staff relationship

Good relationships among staff members lead to the peak performances in any
organization. I observed that the staff relationship was normal otherwise but
some time I noticed that there existed a little conformity among the staff
members

Improper Distribution of Work

Proper distribution work leads to success in every organization. Proper

distribution of work prevents the employee from over and under work
situations. During my internship I observed that there was no proper distribution
of work in the bank

Skilled and Highly educated staff

Alfalah requires skilled and highly educated staff. Nowadays, there is a large
number of M.B.As who are unemployed. These young people have the
knowledge and skill to compete in this competitive and dynamic environment of
banking. Alfalah should recruit new young professionals.
 BANK ALFALAH LIMITED

22.Conclusion

Working with Bank Alfalah limited was really a wonderful experience for me.
During my internship, although I got some limitations, I have learned a lot about
the corporate world.Though, it was my first practical training but it was really a
great time to work with such an institute. All the staff were very kind. I am
looking for a very prosperous and bright future for Alfalah as it is continuously
updated with its customer‟s needs and new technologies and innovations
around. I am really thanks to my great mentor operational manager of Alfalah
Tank Branch Mr. irfan who is always encouraging and motivating me to every
step of my training process and I am also thankful to her who give me
opportunity to do my internship in Bank Alfalah Tank Branch. One thing which is
very valuable in practical life and I also learned it in this environment is how to
interact and communicate with the upper and lower level staff. And in this
process I came to know that the practical life is too different and difficult and it is
difficult to survive in such an environment where competition level remains at
peak .Practical life is very difficult and its experience has a good impact on my
career. I tried again and again to eliminate my mistakes and this experience will
influence my future performance. In the end I would like to thank Alfalah and its
cooperative staff.
 BANK ALFALAH LIMITED

23.References

ANNUAL REPORT OF BANK ALFALAH LIMITED

ALFALAH STAFF

https://www.bankalfalah.com