Innovative consumer banking

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INTRODUCTION:

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

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

MCB MISSION:

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

COMPANY HISTORY:

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

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

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

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

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

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

MAIN DEPARTMENTS AND THEIR JOB

There are three main departments in SFC branch of MCB

  • General banking
  • Foreign exchange
  • Advances/credit

GENERAL BANKING:

General banking deals with following services:

REMITTANCE:

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

Issuance of different kinds of remittance:

1. PAYORDER:

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

2. DEMAND DRAFT:

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

3. MAIL TRANSFER:

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

4.TELE GRAPHIC TRANSFER:

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

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

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

These messages could be faxed and telegraphed.

PAYMENT OF PAY-ORDER AND DEMAND DRAFT:

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

CANCELLATION OF PAY-ORDER AND DEMAND DRAFT:

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

VOUCHERS AND ACCOUNTS:

Vouchers are made for records and they should be completed in all respects: the amount, Date, its Head, Particulars, Amount in words, authorized signatures and contra advice or voucher should be present. Vouchers are advice either debit or credit slips. They are contra of each other. If any voucher of debit is passed its contra credit voucher should also be passed for the balancing of accounts, their respective sheets.

CLEARING:

1. INWARD CLEARING:

It depends on those checks that are cleared inter branch and with in the city. As the concerned branch receive any type of clearing check first of all physical checking is taken place. For clearing procedure there should be two days margin. These checks have their vouchers and the amount of the check and voucher should be identical. Than these checks are stamped and noted on receiving sheet as well as feed in to the computerized system.

2. OUTWARD CLEARING:

It depends on those checks that are cleared out side the city. For outward clearing checks are send because the home branch has there accounts but checks are of other banks. Contra of these checks are vouchers that are recorded in the home branch.

TOKEN:

Token is the process of different steps of checking of the cheaques:

1. PHYSICALLY CHECKING:

First of all the cheaques is physically checked:

2. DATE:

It should not be advanced of the latest date. Date should be limited to only past six months.

3. AMOUNT:

Amount in words and figures should be written in clear writing. Any kind of over writing and cutting should be prevented. Other wise it could not be passed and returned to the customer.

3.PAYEES / BEARER CHEAQUES:

If the cheaques are payees' accounts head or they have marked bearer then these cheaques are not labeled token.

4. VERIFICATION OF SIGNATURES:

Signatures are checked as well as verified. In case of other representative of the account holder brings the cheaque then two signatures of that person are taken.

5. STAMPS:

After physical checking of the cheaques they are stamped.

6. TOKEN NUMBER:

As the cheaques are stamped token numbers are issued for the payment of either cash or transfer of amount in the account.

7. NOTING:

As the cheaques are stamped and token numbers are issued they are also recorded as well as noted in the token number register. A serial number from the token register is generated that should be same of the token being issued. If any cheaque that is recorded wrong then that number is cancelled and the token is placed at other place or returned in the cash department.

ISSUANCE OF CHEAQUE BOOKS:

Any account holder that has opened the account he/she could credit his/her account and for this purpose there should be a cheaque book, so he/she could be able to credit the needed amount whenever he/she wishes. For the issuance of the cheaque book a person is advised to fill a requisite slip with his/her full name and the account number with two verified signatures. These signatures are checked and then another requisite slip prepared by the bank staff send to the NIFT, and it issues the printed cheaque books after completion of the procedure in two or three days.

Account holder can take it by signing on the issuance register or if the absence of the account holder another person could also take the cheaque book only if he/she has authorized signature of the account holder.

When the cheaque boobs are issued they are feed in the computer system from the requisite slip so when the cheaques are given for the credit/transfer of amount they could checked. In this way neither the cheaques could be repeated nor the invalid cheaques could be claimed.

ISSUANCE OF ATM CARDS:

Head Office issues ATM (Auto-Teller Machine) cards with their PIN (Personal Identification Number) Codes and when the customer claims for their ATM card they are checked from the list that is also issued from the Head Office. And the claim is checked from the list and if the name is found than the cards are issued by taking a signature and their PIN codes are also given to them by taking signatures on their ATM card forms. The ATM card has been activated by the number provided at or with the specific card.

CANCELLATION OF ATM CARDS:

The cancellation of ATM cards become necessary in the following conditions:

  1. If folded or damaged
  2. Stolen
  3. PIN code missed or forgotten
  4. Card captured by the machine and expired
  5. If requested by the customer

The cancellation or inactivity of the card is being processed by the request or instructions provided from the customer.

RUPEE TRAVELERS CHEQUES :

1. PURCHASE OR ENCASHMENT OF RTC:

  1. The first step before encashing the traveler cheaque is to make sure that the RTC is valid means that it is neither stolen nor lost.
  2. In the second step the bank take the ID card copy and proof of the purchase of the RTC's from the person.
  3. In this step we make sure that the signature and name of the concerned person and also of the IBS signatures are present.
  4. If the amount required to be transferred in the persons account then the transfer stamp as well as payees account stamp has been put other-wise cash has been handed over to the person by putting cash stamp on the RTC.

2. SALE OF RTC:

The selling of the RTC has been described in step-wise as follows:

  1. In this step the bank initially seeks the information whether the person is going to purchase the RTCs on cash or on account basis. If the transaction is held on cash then simply after taking the cash the RTCs been issued, but if the transaction is based on account then initially the cheaque has been cleared than if the amount is sufficient than RTC has been issued after deducting the amount from the account.
  2. If the amount of RTC is more than Rs. 25000 then tax has levied by 0.3% in case of absence of the tax deduction form.
  3. After this the bank handed over a form for RTC sale duly filled by the concerned person. And after this RTC number has been noted on the form as well as their amount and quantity.
  4. After this we note down the sold RTC in the concerned register.

SHORT NOTICE TERM DEPOSIT (SND):

These are for short times either for seven days or for thirty days and the profit is calculated by the given percentage from the head office at the payment time. If the customer fails to complete the duration of 7 days or 30 days then no profit is given.

If any amount is outstanding, only in case of automatic continuity, then the profit is calculated for the whole period by the rate given from the head office multiplying from the numbers of days divided by the 365 for the one-day profit.

AMOUNT * RATE *NUMBER OF DAYS / 365 DAYS

Profit is calculated for the six months only for outstanding SND. Zakat is also deducted but if Zakat deduction form is submitted to the bank, no Zakat will be deducted then. 10% with holding tax is also deducted from the profit to calculate net profit.

TERM DEPOSIT (TDR):

These vary from different period of time as follows:

1. ONE MONTH TDR:

In this amount is deposited for one month and profit is calculated for the month. After six months out standing amount is calculated by the above formula. And profit is paid or transferred to the person at the time of encashment. If the customer fails to complete the duration of one month then no profit is given. Profit is calculated for the six months only for outstanding TDR. Zakat is also deducted but if Zakat deduction form is submitted to the bank, no Zakat will be deducted then. 10% with holding tax is also deducted from the profit to calculate net profit.

2. TWO MONTHS TDR:

In this amount is deposited for two months and profit is calculated for the period. After six months out standing amount is calculated by the above formula. And profit is paid or transferred to the person at the time of encashment. If the customer fails to complete the duration of two months then no profit is given. Profit is calculated for the six months only for outstanding TDR. Zakat is also deducted but if Zakat deduction form is submitted to the bank, no Zakat will be deducted then. 10% with holding tax is also deducted from the profit to calculate net profit.

3. THREE MONTHS TDR:

In this amount is deposited for three months and profit is calculated for the period. After six months out standing amount is calculated by the above formula. And profit is paid or transferred to the person at the time of encashment. If the customer fails to complete the duration of three months then no profit is given. Profit is calculated for the six months only for outstanding TDR. Zakat is also deducted but if Zakat deduction form is submitted to the bank, no Zakat will be deducted then. 10% with holding tax is also deducted from the profit to calculate net profit.

4. SIX MONTHS TDR:

In this amount is deposited for six months and profit is calculated for the period. After six months out standing amount is calculated by the above formula. And profit is paid or transferred to the person at the time of encashment. If the customer fails to complete the duration of six months and if he has completed the duration of three months then the profit of those months is given. Profit is calculated for the next six months only for outstanding TDR. Zakat is also deducted but if Zakat deduction form is submitted to the bank, no Zakat will be deducted then. 10% with holding tax is also deducted from the profit to calculate net profit.

5. ONE YEAR TDR:

In this amount is deposited for one whole year and profit is calculated for the period. After one year out standing amount is calculated by the above formula. And profit is paid or transferred to the person at the time of encashment. If the customer fails to complete the duration of one year then profit for three or six or nine months is given. Profit is calculated for the six months only for outstanding TDR. Zakat is also deducted but if Zakat deduction form is submitted to the bank, no Zakat will be deducted then. 10% with holding tax is also deducted from the profit to calculate net profit.

CALL DEPOSIT:

It is highly liquid instrument. It can be cashed at any time when needed. This instrument bears no profit on it. It is mostly used for the purpose of tenders.

LOCKERS:

In the complex and unsafe environment of today it has become a necessity for every person to obtain lockers. These are the safe keepers provided by the banks. Mostly the public to safe keep there valuables uses these lockers and bank has the obligation to maintain them.

As per the requirement of people banks are now a days maintaining many sizes of lockers. MCB is also a part of this concern and is maintaining 4 sizes in lockers.

Size Fee Charged Key Deposit

(In Pak Rupees). (In Pak Rupees)

Small 1000 3000

Medium 1050 3000

Large 3000 3000

Extra Large 4000 3000

Key Deposit is the only amount in this instrument, which is refundable at the time lockers, is returned. The rent for the month is taken in advance and is taken annually.

FOREIGN EXCHANGE

IMPORTS:

1. LCS ESTABLISHMENT:

Any company can provide its documents containing e-form, bill of landing, short shipment notice in case of short shipment, packaging list etc. The information provided from the documents is recorded in the LC establishment portion or section in the computer.

2. PAYMENT OR RETIREMENT:

When the transaction has been completed then approved documents from the concerned bank are sent to the home bank for the payment or retirement of the LC. These transactions have been recorded in the payment or retirement section of the computer.

EXPORTS:

1. LODGMENT:

Any company can provide its documents containing e-form, bill of landing, short shipment notice in case of short shipment, packaging list etc. The information provided from the documents is recorded in the LC lodgment portion or section in the computer.

2. PAYMENT:

When the transaction has been completed then approved documents from the concerned bank are sent to the home bank for the payment or retirement of the lodgment. These transactions have been recorded in the payment or retirement section of the computer.

FOREIGN CURRENCY DEPOSIT:

The foreign currency deposit relates with the foreign currency accounts, cash deposit or credit and foreign remittances.

FOREIGN REMITTANCES:

In this we received the messages through SWIFT for foreign remittances. Which we record in their respective accounts. If these are relates with Pak rupees than it was transferred in Pak rupees with the latest rate and if this relates to the foreign currency than it is dealt with accordingly. The amount has been credited to the respective account and the head office has been debited against it. After crediting the amount to the respective account. All the subsequent entries have been made in the registers and also in the computer record as the system now have been upgraded on computers. As we are reporting daily to the head office, so an annexture has been maintained and faxed tot he head office.

CREDITS OR ADVANCES

This department deals with the approval of different kinds of loans to different business entities. The loans, which are being approved by the department, are kept with some securities such as bonds, properties and any other type of asset, which is equally valuable or more than this as a guarantee. Every branch has its own limit, if the amount of loan is with in the limit of the branch then it is being approved by the branch but if the amount of loan is exceeding the limit then it has to made it approved by the head office. In this case the branch sorted all the required papers and sent them to the head office for necessary action. If the head office approved the loan then mostly the period contains a year. And if the party requires more loan than after a year the loan has been re-approved required that they should have the limit.

In case if the head office do not approve the loans then the return letter came back with the reasons of not approval of loan and if the reasons have been made approved by the concerned party then it could be sent again for approval. This whole process is recorded in the back on their computerized system for future reference. All the securities kept in the bank remain with the bank until the party has not refunded all the amount of loan and bank has the authority to liquidate those assets for preventing it from loss.

COMPANY POLICY AND ADMINISTRATION

MCB in order to motivate and satisfy the needs and demands of their subordinates they have made their policies and administrative principles keeping in mind to keep their subordinates satisfies and contented to work and give their optimum results. The company follows policies like promoting their staff, giving instant feed back, job security, future prospectus, giving leaves, breaks accessories like car, house, Mobile phone etc. The policies have been set and high level and hard working staff is pampered so that their interests in the company remains and are motivated to giving better results again and again.

The important polices and procedure follows by MCB are as follow.

1. TECHNICAL SUPERVISION:

Technical supervision is very important in motivating the subordinates. Technical supervision is given to all the subordinates to set their pace and give required help, support and assistance when it is needed. Managers at MCB spend some time with their staff and set their goals that are clearly defined. Managers then spend some time occasionally catching people doing some thing good, praising them, which is a way of providing positive reinforcement. When things go wrong quick feed back is given which helps the subordinates and keeps them on the right track. A supervisor ensues that his subordinates have the chance to learn from colleagues or superiors who have the strengths they lack. IF appropriate he also encourages them to seek formal training or qualification.

Additional supervision is given to subordinates who have problems with their work. Technical supervision from the senior executive prove very helpful and thus by the occasional praises from the seniors motivates the sub ordinates to do well each time.

2. INTERPERSONAL RELATIONS WITH PEERS, SUBORDINATES & SUPERVISOR:

At MCB we noticed that the interpersonal relations between the peers, subordinates & supervisor are good. Open door policy is being used every where. If any subordinates have any problems they are given freedom to discuss and relate problems to their supervisor. Feedback from supervisor to his sub-ordinate is instant. The relation between supervisor and sub-ordinate is friendly and both treat each other with mutual respect. A supervisor gets to know his staff individually and keeps up to date on what is happening to them. He also tries to find out what interest and motivates his staff in and out of work. These factors constantly change there fore the supervisor has to check on how they develop.

The relationship between peers is exemplary and this sense of co-operation amongst its employees is what makes M.C.B what it is today.

3. SALARY:

The pay scale of employee's of M.C.B is not that good; rather it's satisfactory. It varies from high level to lower level staff. The high level staff are generally pampered and their salary is quite good with a whole lot of fringe benefits thrown in for good measure.

The salary of lower level staff is not that good. In fact it is rather poor especially for the menial labors. There are seldom any fringe benefits for them. Thus it is found that higher level staff are quite satisfied with their pays unlike the lower level staff.

4. JOB SECURITY:

Job of a person at MCB is usually secure because being a private owned bank the selection of staff is done on a very selective scale. Thus the staff working under MCB is highly qualified so one of its motivational factor involves job security in which there is no threat of losing a person's job unless a crucial error or mistake takes place.

When the employees of MCB specially the higher level ones retire or leave their jobs they are compensated in a good manner. When a person makes a golden hand shake more than enough incentives are given which satisfies his needs.

5. WORK CONDITIONS:

Much stress is given on making the work conditions of the office exemplary. Taking any branch of MCB it is clearly visible that its office environment is one of the best comparing from other banks. Office accessories like furniture, computers, stationery etc are seen that they are the latest and the best available in the market.

6. STATUS:

Higher level staff or executives are given much importance and treated according to their status. As they are promoted there comes a visible change in which they are treated. Benefits are increased. One of the policies of MCB is to give cars to higher executives. Each year a large number of cars are bought. It motivates them to give their optimum thus in turn motivating the lower level staff also who strive to work hard so that they can be like their seniors.

7. ACHIEVEMENT:

Most employees want the satisfaction of making a meaningful contribution. They are rarely content to plod along mechanically. Therefore managers at MCB provide opportunities for their sub-ordinate to attain their individual level of achievement. Goals are specified and they are employees are made and motivated to perform and give their 100%.

8. RECOGNITION:

Supervisor at MCB tries to give immediate recognition for good job performance by subordinates. They also praise his effort at formal or annual assessments. This is done because praise and feed back stirs people to achieve even more. Recognition is also done on the basis of one-minute managers. The recognized effort of a person lets him know what role or importance he has in the organization.

9. RESPONSIBILITY:

At MCB the supervisor makes his subordinates responsible for a particular task. Upon seeing its output he gives him more responsibility so that he may be inclined towards work and won't have to be forced. Responsibility increases with the position a person holds in the organization. More and more responsibility is given to capable and hard working employee who has a possible future growth. Thus responsibility holds an important part in motivating people.

10. PROJECTS & ASSIGNMENT:

The middle and high level staff are given special projects and assignment so that they get more exposure. Upon successful completion of that project, the person it was assigned would be highly motivated and would feel that he is an integral part of the group. The person would also have gained experience and gathered knowledge about a particular thing.

11. PROMOTIONS:

The opportunity of getting promotion at MCB is quite good for the middle and high level staff but for the lower level staff there is very little chance of moving up. An A.V.P is usually promoted if he meets his objective consecutively for two years. It holds true for other middle and high level staff. Along with promotion come other perks such as company maintained car, new office, Mobile phones etc.

SERVICES & PACKAGES

SPECIALIZED PRODUCTS:

MCB provides Convenient 24-hour banking services through the largest ATM network in Pakistan.

1. RUPEE TRAVELER'S CHEQUES:

Buy MCB Pak Rupee Travelers Cheques the safest way to carry cash for high value cash transactions. MCB Rupee Travellers, the market leader in the Rupee Travellers Cheque market in Pakistan is celebrating nine years of leadership in July 2002. Launched in July 1993, MCB RTCs has been the preferred choice of the Rupee Travelers Cheques target market. With over 1.5 million satisfied customers in five years, MCB has been striving hard to package their product better and better each year. We now have RTCs with maximum-security features, we've incorporated Tele verification with the product where customers can call and check whether the RTC is valid. At the same time, our RTC team anywhere in Pakistan ensures superior quality customer service.

2 .MCB MASTER CARD:

The MCB Master Card - It's the Future of Money. With over 12 million merchants welcoming the card globally, you've never seen convenience like this before.

With round - the- clock service and great customer convenience now MasterCard has even more to offer. Use MCB MasterCard and win - win prizes. They call it win - win because all participants will win an exclusive MCB Travel Bag.

3. DINNER CLUB CARD:

The ideal card for the business world, the Diners Club Card provides you access to over 70 airport lounges worldwide.

Double Benefit Offer

Along with enjoying exclusive Diners Club advantages you can now get more out of the Card that is the right answer in any language. Diners Club brings an offer where every entry wins Double Benefits. Yes, every participant gets an exclusive Diners Travel Bag. In addition to that, all entrants are entitled to participate in a Lucky Draw where you win a free return ticket to the shopper's paradise - Dubai. Or you could end up sitting in your TV lounge in front of a brand new AIWA TV /VCR treating yourself to pure entertainment.

4.REMIT EXPRESS

Remit Express is the fastest way of getting your money across to Pakistan.

SPECIALIZED ACCOUNTANTS

At MCB, you can open an account that fits your requirements.

1. MCB RUPEE MAXIMIZER ACCOUNT:

MCB Rupee Maximizer Account provides you an opportunity to convert your

With the recent changes in the economic scenario MCB launched the Rupee Maximizer Account exclusively for its Foreign Currency Account Holders. MCB Foreign Currency Account holders now have an opportunity to convert their Foreign Currency Account balances into Pak Rupees and earn a profit at the rate of 12.6% per annum. Other features include profits calculated on a daily product basis, no restrictions on the number of withdrawals, no minimum deposit required. Special benefits include one free ATM card and locker facility free of cost. MCB Rupee Maximizer Account is being advertised in leading daily newspapers as well as local papers. Foreign Currency Account into Pak Rupees and earn profit at the rate of 12.6% per annum.

2. PAK RUPEE OR FOREIGN CURRENCY ACCOUNTS :

They provide you with a selection of accounts to suit your needs.

3. KHUSHALI BACHAT ACCOUNT:

Open a Khushali Bachat or Dollar Khushali Account, both require low minimum income deposits plus you receive profit on daily product basis. Get a saving account with current account facilities through Saving 365.Or double your investment through Capital Growth and receive monthly profits through Monthly Khushali.

PROBLEMS

Problems are basically those factors of an organization or a firm who create errors in work, stops the production or leads to draw back of a company. However an organization is good and produces the best products in the world but some where along the line it has to face some problems and drawbacks. These problems when neglected may cause serious damage to the organization in the long run. Upon interrogating the problems occurring in MCB the higher level staff at MCB almost instantly refused and denied that there are no problems in MCB.

But this is quite hard to believe because an organization the size of MCB has to have some problems and some hidden skeletons in their closets. Upon digging and finding out through research I unearthed a few problems that the organization is facing. All these problems concern the lower level staff who is not being motivated properly.

1. LOW PAY SCALE IN LOWER LEVEL:

The low-level staff of MCB is dissatisfied with their basic salary. They are dissatisfied to the extent that in order to get a raise the employee of MCB were even planning to go on a strike. In the present economical condition of Pakistan it is very difficult to survive in a low pay scale there fore in order to meet their ends the staff are trying to get a raise.

2. LACK OF DECISION MAKING ABILITY AT LOWER LEVEL:

The higher level of executive at MCB vest no decision-making ability in their subordinates. They are given some what low level ability in decision making but all the major decision are made at higher level. Some times subordinates are given freedom where else some time no decision making or freedom is given

CONCLUSION:

I find main factor behind MCB's success is the dedication of its staff to its profession. Managers at MCB spend some time with their staff and set their goals that are clearly defined. If any subordinates have any problems they are given freedom to discuss and relate problems to their supervisor. Supervisor at MCB tries to give immediate recognition for good job performance by subordinates.

Also at MCB the supervisor makes his subordinates responsible for a particular task. The opportunity of getting promotion at MCB is quite good for the middle and high level staff but for the lower level staff there is very little chance of moving up.

MCB has its problems also. They mainly are concerned with the lower level staff. The two basic problems that the low-level staff is being encountered with are:

  • Low pay scale
  • Low decision making ability in the lower level staff

The executive at MCB should involve their staff in as many decisions as they can.

RECOMMENDATIONS:

In order to get the most out of their employees and subordinates it is very necessary to solve the problems occurring in MCB because the future may not be bright if these problems are neglected. MCB should makes some amends in their policy to an extent that their sub-ordinates are satisfied.

The first and foremost change that MCB should make is that they should increase the basic salary of their staff and workers because if they are not satisfied they will not perform their best and thus results obtained may not be optimum. The salary should be as such that it should satisfy both the sides. Some decision making power should be vested in their lower level staff so that they make take the decision upon their own will without being dissatisfied and objecting upon any decision made. This is very vital because by this the workers are somewhat motivated and they can feel the importance of their decisions.

The executive at MCB should involve their staff in as many decisions as they can. They should not over estimate how much secrecy they are keeping from them. An executive should consult his subordinates and seek their views on the advisability / practicality of any potential change. It is usually observed that in doing so the subordinates will reward him with greater commitment and endeavor.

BIBLIOGRAPHY

  • 1.NEWSLETTERS
  • 2.MAGAZINES OF MCB
  • 3.WEBSITE: {HPERLINK http://WWW.mcb.com}
  • 4.ANNUAL REPORT

REFRENCE BOOKS

  • 1.Organizational Behavior (Fred Luthans)
  • 2.The New Management (Robert M. Fulmer)
  • MANAGEMENT by Henry Kontz

APPENDIX

MUSLIM COMMERCIAL BANK LTD.

BOARD OF DIRECTORS

  • Mian Mohammad Mansha - Chairman & Chief Executive
  • Mr. Tariq Rafi - Vice Chairman
  • Mr. S.M. Muneer
  • Shaikh Mukhtar Ahmed
  • Mr. Mohammad Arshad
  • Mr. Shahzad saleem
  • Mr. Raza Mansha
  • Mr. Sarmad amin
  • Mr. Umer Mansha
  • Dr. Aleem Mahmood
  • Mr.S. Tanveer Ali Agha
  • Sayed Muzafar Ali Shah

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