Three things should be maintained in the form. 11 name of payee place of payment Amount. D commission is charged. D as bank income. The applicant is asked to deposit the cash specified on the application form to the teller. After depositing cash the remittances incharge prepare.
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The rate of return varies with the duration for which the amount is kept with bank There are two types of term deposits. Stdrs special Term Deposit Receipt (local currency) Special Term Deposit Receipts are issued for different periods of maturity ranging from one month to 5 years, having attractive returns. There is no limit on denominations. Ntdrs notice term Deposit Receipt (local currency) These are term deposit with special features that these can be withdrawn any time but after giving a predetermined and pre agreed early notice. Remitances department current business trends demand fast movement from one geo-graphic end to another. Latest technology referral and telecom data transmission has made it possible to make such transactions with in minutes. Ubl an Remittances Department performs following functions. Demand draft (D.D). D is a negotiable instrument issued by branch of the bank drawn on other branch of the same bank. A) Procedure for. Purchaser is asked to fill in an application form duly singed by applicant.
The basic feature is the daddy profit and loss sharing as according to non-interest based banking system. These accounts can be opened in the name of; individuals, joint names, trust accounts, charitable organizations. Unlike current accounts, zakat is applicable on local currency saving accounts. Minors accounts can be opened on the condition that their guardians shall operate these accounts. 10 C) Term Deposits Term deposits are also called fixed deposits. These can be with drawn after a specified period of time. Interest is paid to the depositor on all fixed or term deposits.
The account can be opened with minimum amount of rupees 1000/. These accounts are usually maintained for business purpose. Due to enormous competition ubl has introduced daily profit current account for corporate clients called (unisever) minimum balance required. If minimum balance requirement is professional not met, bank is authorized to recover predetermined charges. B) pls saving Account These accounts were intended with the aim of encouraging thrift among people. These accounts can be opened either in pakistani rupees or in few major currencies of the world. Bank offers (4- 6) return on these accounts.
Documents Required in Account Opening. Account opening form (provided by bank) Two photograph (in case of illiterate person) Specimen Signature card (Provided by bank) Cheque requisition Form Introduction of Account. Types of Account. Individual Account In this account a single customer operates the account. The banker will run the account according to the rules, but if the customer gives special instructions the bank will have to follow. Joint account In this type of account two or more than two persons will open the account. The account will be operated by one account holder in case of (either of the survival). If the instructions are not given, all the account holders will have to sign the check. Nature of accounts in ubl current Account These are non-profitable demand accounts.
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Sheikh Nahyan Mabarak nahayan chairman, sir Mohammad Anwar Pervez deputy Chairman. Amar Zafar Khan President,. A manna deputy ceo risha moheyuddin Global Treasurer. Nauman Hussain Director Operations utilities. Khan head brooklyn Corporate banking Group Shaharyar Ahmed head Investment Banking group Shahid Waqar Mehmood head Aman aziz siddique commercial bank.
Khalid Munawar-ud-din head Credit Policy supervision. Muhammad Ejazuddin Audit Chief, mehboob an, rukhasana Asghar Global head Human Resources head International Operations (Dubai) organizational hierarchy of ubl ali sameer Chief sam (domestic). Ameer Karachiwala Chief financial Office/hca 7 Chairman Deputy Chairman board of Directors Executive committee managing Director sevp evp vp officer Grade-i non Clerical Staff Clerical Staff Officer Grade-ii officer Grade-iii chapter 3 cash, remittences, credit clearing departments 8 deposit departments as per the definition. Deposits are the backbone of any bank; other functions of the bank primarily depend upon the type and size of deposits. Function perfumed by cash and deposit department in ubl ubl accepts deposits under the following three accounts. Current account pls saving account Terms Deposits Opening of Account to open an account in ubl the customer will have to fill an account opening form in front of bank officer. He has to sign in all required places in front of the officer.
Utility bills collection Credit cards (unicard-1970) Travelers Cheques (Humarah-1971) diaries and calendars received prizes too promotion of sports. Computerization of ubl 4 5 4, ubl has taken leading start in the introduction of computers in (1966-1968)6 in important cities. Its three computers centers Rawalpindi, lahore and Karachi are equipped with the modern mainframe computers of various capacities. Every branch has been decorated with microcomputers. The use of computers has enabled the bank to save time and efforts raise efficiency and deliver the goods speedily to its customers.
This has also allowed the bank to maintain its leadership within the industry. ubl - on line system7: Themes of this service is Access any time, anywhere, any device which symbolizes comfort, convince and connectivity. Ub-online a web based service that can be accessed through multiple media link like, (i) pc via internet (00) Mobile phone with wap or free sms) (iii) Personal Digital (iv) assistants and (v) Plain telephone; following are some of the exciting features: o accounts statement. The system automatically prepares various report, central bank returns, and statement of accounts for customers. money gram facility: The bank has recently employed money gram service system, which can affect money transfers within minutes. Similarly the system used for local transfer of money transactions is called uni-remote. hajj service: 6 7 8 5, keeping to its tradition is august 1982 provided electronic facility at its Hajj booth and has installed now modern computers at designated branches (Hajis) and increasing efficiency. This facility has reduced the service time to less than six minutes per Haji compare to about half-an-hour to 45 minutes per Haji earlier. Chapter 2 6, management of ubl senior management of ubl.
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These branches are playing a significant role in channeling home remittances and foreign trade of pakistan. Subsidiaries, ubl has four subsidiaries, namely: United National Bank limited (unb uk 3 2, guaranteed united Bank ag (Zurich Switzerland United Executers and trustees Company limited United Bank financial Services (Private) Limited. Functions of ubl, ubl is a commercial bank, which transacts the business of banking in accordance with the provisions of bco, 1962. Section 7 of the Act authorizes banks to engage in the prescribed form of business. In the light of this section ubls functions can be categorized as under: Agency services general Utility services Underwriting of loans raised by the government or public bodies and trading by corporations etc. Providing specialized services to customers, and hajj-related services. Role of ubl banking sector, the impressive growth and development, which ubl achieve, present it undoubtedly the most dynamic and progressive. In a very shorter period of time it became one of the 3 leading banks overtaking several other older and its competitor banks4. The major contributions5 the bank ahs made are enlisted below: record setting performance and commitment to serve the customers personalized service and dynamic approach catalyst of changes Professional management modern banking policy human resource development Small loans (or) micro credits pacesetter in economic research established.
ceo of ubl was brought by President General Musharraf from Bank of America. Atif is younger brother of General Asif riaz bukhari a commando, who is a close friend of General Musharraf. Services, consumer Banking Commercial banking Corporate banking Investment Treasury ubl ameen Islamic Banking. Number of branchs, ubl has a large network of branches, which extends to the remotest areas of the country. In December 1983, there were 1623 branches whereas in 1974 it had only 1238 branches and in October 2003 these figures show total number of 1007 branches3. Ubl has been very active in increasing its overseas branches network. The first foreign branches were established in London in 1963. Now ubl has branches in Bahrain, qatar, saudi Arabia, united Arab Emirates, yemen Arab Republic, uk switzerland, Egypt, Oman and The United States.
Banking in pakistan, banking started in pakistan after the bold and emergent decision owl of formulation of sbp on July 30, 1948. Thereafter this sector has witnessed enormous growth. In 1974 banks were nationalized, in the hope that new era of growth could be achieved through. However the process is reverse since 1991, up till now mcb, abl, and ubl have been privatized and hbl is in the process of its privatization. Introduction to ubl, agha hasan Abedi founded the bank in 1959. In 1971 the government of pakistan nationalized. In 2002, the government of pakistan sold it in an open auction to a consortium of Abu Dhabi Group and Bestway group. Since its privatization the bank has been successfully turned around and remains a robust and strong performer in all major segments of its operations.
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Download, report, description, chapter 1 introduction to ubl banking history consensus on the origination of word Bank is biography not yet reached. Some authors opinion is that this word is derived. Transcript, chapter 1 introduction to ubl. Banking history, consensus on the origination of word Bank is not yet reached. Some authors opinion is that this word is derived from the words Bancus or Banque, which mean a bench and they further relate banking business inception to jews in Lombardy. Other authorities state that the word Bank is derived form the german word Back which means joint Stock fund and later on due to german occupation of Italy, this word was italianated into bank. Authors" babylonians (few"s Chinese) who developed banking system as early as 2000.