Brief
Introduction of all the departments

 

1.      Remittances
department

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2.      Customer
service center

3.      Cash
department

4.      Clearing
department

5.      Account
department

6.      I.T
department

7.      Credit
department

8.      Auto
Finance Department

9.      Agriculture
Department

10.  Human
Resource Department

 

Remittances
department:

 

The
function of remittance departments is to handle with the following instruments:

 

ü  Pay
Order.

ü  Demand
Draft.

ü  Pay
slip.

ü  Telegraphic
Transfer.

ü  Payment
of Remittances.

ü  Cancellation
of pay order & demand draft.

The remittance
department deals with the transfer of money from one place to another. This
department deals with the local currency transfer only. Askari Bank Limited
provides these services to both customers & non-customers.

 

Customer
service center:

 

Customer
service Department perform the following duties:

 

ü  Give
brief information about different account to customer.

ü  Account
opening.

ü  Provide
service to customer such as filling the forma.

ü  Issuing
the cheque book.

ü  Issue
Debit card and credit card.

ü  Locker
record keeping.

ü  Computerize
record keeping of utility bills and other collection.

 

 

Cash department:

 

All physical movement of cash in
the bank is made through the cash department. Normally cash department performs
following functions:

 

ü 
Receipt.

ü 
Act according to any standing instruction.

ü 
Payments.

ü 
Transfer of funds from one account to another.

ü 
Handling of ATM.

ü 
Verification of signatures.

ü 
Posting.

ü 
Handling of prize bond.

 

Clearing department:

 

The word clearing has been derived from the word
“Clear” and is defined as ” a system by which banks exchange cheques and other
negotiable instruments drawn on each other within a specific area and thereby
secure payment for their clients through the Clearing House At specified time”
in an efficient way”.

Clearing house:

It is a place where representatives of all banks sit
together and interchange their claims against each other with the help of
controlling staff of State Bank of Pakistan and where there is no branch of
State Bank of Pakistan the designated branch of National Bank of Pakistan act
as controlling member instead of State Bank of Pakistan.

 

 

Account department:

 

Account
department is responsible for budgeting and account opening. All the
transaction that are take place in the bank are match to the computers
generated report and save it in a physical form that these transactions are
take place in the bank.

Secondly
account is responsible for budgeting and also record daily expense incurred by
the bank. Account department work as a backbone of the organization. This
department directly report the operational manager and vice president. Preparing
the bank’s annual accounts and coordinating external audit is also a direct
function of the finance division.

 

I.T department

 

The computer has change the way of
working. Now all the departments of Askari bank limited perform their duties in
computerize environment. The duty of the I.T department is to perform:

 

ü  Verification
of N.I.C online for the purpose of account opening.

ü 
Computerize record keeping of Accounts.

ü 
Generate report of daily transaction in the
bank.

ü 
Maintain the LAN and make the software and
hardware configuration

 

Auto finance Department:

 

Auto
finance Department offers us the most convenient and affordable vehicle
financing scheme to help us own our favorite brand new car.

 

 

Credit department:

 

Credit
Department deals with arrangement by which a buyer can take ownership of
something now and pay for it later or over time credit department perform following
duties:

ü  Computer
Loans.

ü  Personal
Finance.

ü  Mortgage
Finance.

ü  Business
Finance.

 

Agriculture Department:

 

It
provide the different kind of loan to the Kissan or former it include:

ü  Kissan
Ever Green Finance.

ü  Kissan
Tractor Finance.

ü  Kissan
Aabpashi Finance.

ü  Kissan
Livestock Development Finance.

ü  Kissan
Farm Mechanization Finance.

ü  Kissan
Transport Finance.

 

Consumer Finance Department:

 

The
consumer finance department provide the business loan 500,000 – 50,000,000. The
rate of interest charge by the bank is twenty one percent which is lower as
compare to the other competitors.

 

 

Human Resource Department:

 

Human
resource department performs the following functions:

ü  Employees
Recruitment and selection.

ü  Training
and development.

ü  Performance
Management.

ü  Compensation
Policy.

ü  Allowances
of employees.