internship report on MCB bank ltd 2011

INTERNSHIP REPORT ON MCB BANK LTD.

University of Sargodha
Department of Commerce P a g e | 1


The Internship Report on
MCB Bank Ltd.
INTERNSHIP REPORT ON MCB BANK LTD.

University of Sargodha
Department of Commerce P a g e | 2

PREFACE

Internship is an integral part of B.Com (HONS) program. For the sake of internship the
most initial thing is to have a practical experience. This effort may get as a student to get a
practical experience if right organization is selected. During this internship, a student
comes to particle knowledge. He learns what the has so far studied. As a B.Com (HONS)
student I have also done my internship in MCB Bank Ltd. Sargodha. Here I come to know
a different and very interesting experience of learning and working with people. First of all
I will tell you about Bank then I will tell operations of different departments.
This internship report is specially meant for the students of B.Com (HONS). It is concerned
to a brief study of operation, functions, tasks and services of the MCB Bank Ltd. Banking
play very important role in the commerce and economic development of any country. Now-
a-days banks are using different modern technologies which influence the managerial
activities that are why I decided to do my internship training in the bank.
In preparation of this report I have tried my best to provide all possible information about
the operation, functions, task and the corporate information of the MCB Bank Ltd. in brief
and comprehensive way. This internship ends with some recommendations after
identification of problems that I observed during the course of my internship training.

Ali Raza Sahni
INTERNSHIP REPORT ON MCB BANK LTD.

University of Sargodha
Department of Commerce P a g e | 3










Dedication


My report is dedicated to my parents, teachers and my cute friends who are
always with me in Every Hardships of life and has waited for me to be here
at Final stage.

May! Allah Give them Long Life (AMEEN)

INTERNSHIP REPORT ON MCB BANK LTD.

University of Sargodha
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Acknowledgement


Most grateful to Almighty Allah who enabled me to utilized my knowledge and skills for
the preparation and completion of this internship report. I want to express my most humble
gratitude to my supervisor and all other teachers and class fellows who furnished me with
the opportunity to complete report I m also thankful to the manager Mr. Rashid Iqbal of
MCB, Girls College Road Branch, Sargodha. I am also grateful to my colleagues and
friends who provided with the moral support during the completion of this report.


Ali Raza Sahni
INTERNSHIP REPORT ON MCB BANK LTD.

University of Sargodha
Department of Commerce P a g e | 5


EXECUTIVE SUMMARY
The banking structure in Pakistan comprises of the following types, State Bank of Pakistan,
Commercial Bank of Pakistan; Exchange Banks, Saving banks, Cooperative banks,
specialized credit institutions. The state bank of Pakistan is the Central bank of the country
and was established on July 01, 1948. The network of bank branches now covers a very
large segment of national economy. The State Bank of Pakistan issues the shares of these
periodically. Bank employees and other common people can also purchase these shares

and earn profit. In 1956, MCB transferred its registered office to Karachi, where the Head
Office is presently located. In April 1991, MCB became Pakistan‟s first privatized bank.
The corporate branch at Shahrah-e-Faisal Karachi (SFK) branch is the corporate branch of
MCB in Karachi. The bank is using SWIFT for transfer of information about imports and
exports.
MCB SFK branch has Currently Following three Departments General Banking
Department, Advances Department & Foreign Exchange Department. To open an account
the customer has to meet the general banking manager with an introducer. The procedure
begins with the punching of account opening form to the customer file i.e. customer‟s
master file. Before closing any account, bank send letter to the account hold for informing
him that his account is going to be closed. There is need an approval form higher authority
to close any account. Current deposits are those which are payable to bank whenever
demanded by the customer.
Bank does not pay any profit on current deposits. The following are the financial
products/services of MCB Malay Mail Scheme, PLS Account, Saving 365 Account,
Capital growth certificate scheme, Fund Management Scheme, Khushali Bachat Account,
Term/ Fixed Deposits and others like night banking, credit cards, traveler cheques. In
remittance department like any other bank MCB also have instruments for transferring of
money, Telegraphic Transfer, Mail Transfer.
In cash department both deposits and withdrawals go side by side. This department works
under the accounts department and deals with cash deposits and payments. This department
maintains the following sheets, books, and ledger of account cash received voucher sheet.
Cash paid voucher sheet, Paying-in-slip, Cheque Book, Cash balance book. The clearing in
INTERNSHIP REPORT ON MCB BANK LTD.

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Karachi at MCB or other banks is being done through NIFT (National Institute of
Facilitation Technology). Bank provides this facility to the people who need advance
money to meet their requirement.

Party dealing with other banks financial condition of borrower business and as a first step
credit proposal is being made. MCB provides advances, which are of two types. Secured
Advances, Unsecured Advances. MCB usually classified advances in to following types
Agricultural Advances, Commercial Advances Industrial Advances. Commercial Advances
are of following types Demand Finance, Cash Finance, Foreign bills purchased, Finance
against imported goods, Finance against foreign bills, Export Refinance Part I (Pre
Shipment) & others. Banks Agriculture division deals with the agriculture advances. Bank
provides the Agriculture Advances in order to enhance and support the agriculture sector of
the country. Farm Credit & Non Farm Credit. In foreign exchange, MCB is dealing Foreign
Currency Accounts, Foreign Remittances, and Foreign Bills for Collection, Imports &
Exports Foreign currency accounts & the foreign currency department deals with the
following types of accounts, Dollar Khushali account, Current account, Saving bank
account, Term deposit, Prime Currency Scheme. Foreign accounts are convertible on
floating rate available to the bank. Letter Of Credit facility is being provided by MCB in
foreign exchange.
HISTORY OF THE MCB BANK LIMITED

Before separation of Indo Pak, the need for more Muslim banks was felt. And Muslims
having strong financial capacity were thinking to invest in this sector as well. This was the
idea which paved the way for setting up MCB Bank Ltd known as MCB. This was the third
Muslim bank in the subcontinent.
This bank was incorporated under companies‟ act 1913 on 9
th
July, 1947 (just before
partition) at Calcutta. But due to changing scenario of the region, the certificate of
incorporation was issued on 17
th
August, 1948 with a delay of almost 1 year; the certificate
was issued at Chittagong. The first Head office of the company was established at Dacca

and Mr. G.M. Adamjee was appointed its first chairman. It was incorporated with an
authorized capital of Rs. 15 million.

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After some time the registered office of the company was shifted to Karachi on August
23rd, 1956 through a special resolution, now recently the Head office of MCB has been
transferred to Islamabad in July, 1999 and now Head office is termed as Principle Office.
This institute was nationalized with other on January 1st, 1974. At that time it had 506
branches and deposits amounting to Rs. 1,640 million. Although. MCB has a reputation of
a conservative bank but nationalization also left its effects on this institute as well and by
end of year 1991 in which it was privatized the total number of branches were 1.287 and
deposits amounting to as high as Rs. 35,029 million
Privatization
When privatization policy was announced in 1990, MCB was the first to be privatized upon
recommendations of World Bank and IMF. The reason for this choice was the better
profitability condition of the organization and less risky credit portfolio which made'' it a
good choice for investors. On April 8th, 1991, the management control was handed over to
National Group (the highest bidders). Initially only 26% of shares were sold to private
sector at Rs. 56 per share.
After Privatization
Ten years after privatization, MCB is now in a consolidation stage designed to lock in the
gains made in recent years and prepare the groundwork for future growth. The bank has
restructured its asset portfolio and rationalized the cost structure in order to remain a low
cost producer.
After privatization, the growth in every department of the bank has been observed.

Following are some key developments:
 Launching of different deposit schemes to increase saving level.
 Increased participation on foreign trade.
 Betterment of branches and staff service level.
 Introduction of Rupee Traveler Cheques & Photo Credit Card for the first time in
Pakistan.

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MCB Bank – Today
MCB today, represents a bank that has grown with time, experience and Pakistan. A major
financial institution, in scope and size, it symbolizes a fully growing tree evergreen, strong,
and firmly rooted.

Foreign Trade
The bank conducted import business during the year amounting to RS. 54.0 billion as
compare to RS. 56.4 Billion In 2005. The export business slightly improves to RS. 36.9
Billion From RS. 35.1 Billion. In 2006. Home remittances decline to RS. 16.7 Billion From
30.7 Billion the decline in home remittances business was due to freezing of Foreign
Currency Accounts, which has affected the confidence of Pakistanis working overseas.

COMPALINCE YEAR 2006
MCB‟s strength lies in providing a technological base at the gross root level of the society
with a challenge to educate and assimilate such systems across vast cultural and economic
backgrounds. With over 768 automated branches, 263 online branches, over 151 MCB
ATMs in 27 cities nationwide and a network of over 16 banks on the MNET ATM switch,

MCB continuously innovates new products and services that harness technology for the
customer‟s benefits.

SOCIAL SECTOR

The bank activity participating in the Prime Minister self-employment Scheme. The
application received from various applicants is being processed on merit and disposed off
as quickly as possible.
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THE BUSINESS

MCB is in it‟s over 50 years of operation. It has a network of over 1,000 branches all over
the country with business establishments in Sri Lanka and Bahrain. The branch break-up
province wise is Punjab (57%), Sindh (21%), NWFP (19%) and Blochistan (3%)
respectively.

MCB has an edge over other local banks, as it was the first privatized bank. The State Bank
of Pakistan has restricted the number of branches that can be opened by foreign banks, an
advantage that MCB capitalizes because of its extensive branch network.

Fourteen years after privatization, MCB is now in a consolidation stage designed to lock in
the gains made in recent years and prepare the groundwork for future growth. The bank has
restructured its asset portfolio and rationalized the cost structure in order to remain a low
cost producer.

MCB now focuses on three core businesses namely Corporate, Commercial and Consumer

Banking. Corporate clientele includes public sector companies as well as large local and
multi national concerns. MCB is also catering to the growing middle class by

Providing new asset and liability products. The Bank provides 24 hour banking
convenience with the largest ATM network in Pakistan covering 27 cities with over 151
ATM locations. The Bank‟s Rupee Traveller Cheques have been market leaders for the
past six years and have recently launched their Gift Cheque Scheme.

MCB looks with confidence at year 2007 and beyond, making strides towards fulfillment
of its 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".
A major achievement of MCB is that the state bank of Pakistan has issued a license to
MCB to start Islamic banking. Now MCB is setting up a 1
st
Islamic banking branch at 1
st

floor shaheen complex, Karachi. This complex starts working from September 1, 2003.

INTERNSHIP REPORT ON MCB BANK LTD.

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Vision Statement

CHALLENGING AND CHANGING THE WAY YOU BANK

Mission Statement

To become the preferred provider of quality financial services in our country
with the profitability and responsibility and to be best place to work

Our Core Values

 CUSTOMER FOCUS
We treat each of our customer equality & as the most important person while we interact
with him/her. We must ensure that we do everything to meet and exceed the customers
expectations with perfect to times, accuracy & quality services.

 EMPLOYEE RESPECT & DIGNITY
We treat each of our employees with fairness, which includes giving constructive feedback
for their development. We celebrate diversity and seek suggestions from all employees for
improvement. We ensure that responsibility & fairness in all our decision-making.

 TEAM BASED APPROACH




We work towards achievement of our vision & mission as a combines group. We
encourage inter & intra-departmental communications. We treat our colleagues as our
internal customers & ensure that the requirements of internal customer focus are always
met.
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 QUEST FOR QUALITY

We ensure that each moment of our time is spent on value adding activity. We always seek
ways for exceeding expectations of customers & colleagues. We also ensure that we do
things right, first time every time.
 GOOD CORPORATE CITIZENSHIP
We ensure that we contribute our due share to the Govt. we realize that we have a
responsibility to the society in which we operate & we seek ways of playing a positive role
for the betterment of the community at large.

Board of Directors


Mian Mohammad Mansha Chairman




S.M. Muneer Vice Chairman




Mohammad Aftab Manzoor President & Chief Executive



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Tariq Rafi Director




Sheikh Mukhtar Ahmed Director




Mohammad Arshad Director



Shahzad Saleem Director



Mian Umer Mansha Director



Sarmad Amin Director
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Audit Committee

Mian Mohammad Mansha Chairman
Shaikh Mukhtar Ahmed Member
Shahzad Saleem Member

Chief Financial Officer
Ali Amin

Company Secretary
Tameez-ul-haque

Auditor
A.F.Ferguson & co
Chartered accountants
M. Yousuf Adil Saleem & co
Chartered accountants

Legal Advisor

Chartered accountants Mandviwalla & Zafar
Advocates & legal consultants

Shariah Advisor
Dr. Muhammad Zubair Usmani

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ORGANIZATIONAL HIERARCHY OF MCB






















PRESIDENT
EXECUTIVE VICE
PRESIDENT
SENIOR EXECUTIVE
VICE PRESIDENT
SENIOR VICE
PRESIDENT

OFFICERS GRADE
I II III
VICE PRESIDENT
ASSISTANT VICE
PRESIDENT
CASHIER
ASSISTANTS
PEONS
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MANAGEMENT LEVEL

The organization chart within a department and in different offices is as follows:
Divisional Heads ……… …………………… Head Office
Regional Head (EVP) ……… …………………… Regional Office
Zonal Head (VP) ……… …………………… Zonal Office
Branch Manager ……… …………………… Branch
(VP, AVP, GRADE 1, 2, 3)
ORGANIZATIONAL SETUP OF MCB

PUNJAB
NWFP & AZAD
KASHMIR
SINDH
BALOCHISTAN
KARACHI
LAHORE
PESHAWAR
PROVINCIAL HEAD
QUARTERS
QUETTA
HEAD QUARTER
CIRCLE OFFICES
BRANCH OFFICES
KARACHI
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ORGANIZATIONAL STRUCTURE OF MCB
As MCB is a banking company listed in stock exchange therefore it follows all the
legalities which are imposed by concerned statutes Mr. Muhammad Mansha is chairman
& chief executive of the company with a team of 10 directors and 1 vice chairman to help
in the business control and strategy making for the company.
Operational Management of the bank is being handled by a team of 10 professionals. This
team is also headed by Mr. Muhammad Mansha. The different operational departments are
Consumer Banking & IT div; Financial & Inter branch div; Banking operations div; HR &

Legal div; financial control & Audit div; Credit management div; Commercial Banking
div; Corporate Banking div; Treasury management & FX Group and lastly Special Assets
Management (SAM) Group.
For effective handling of branches, it has been categorized into three segments with
different people handling each category. These categories are:
 Corporate Banking
 Commercial Banking
 Consumer Banking

Corporate Banking
These are branches which have an exposure of over Rs. 100 million. Usually includes
multinational & public sector companies.

Commercial Banking
The branches which has a credit exposure of less than Rs. 100 million but having a credit
portfolio of more than Rs. 20 million (excluding staff loans). Usually branches in large
markets and commercial areas come under this category.
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Consumer Banking
These are the branches which have exposure up to Rs. 20 million and these include all the
branches which are neither corporate nor commercial branches.
Recently the organizational structure was re-designed as follows:
Province wise branches

MARKETING MIX OF MCB BANK LIMITED
Marketing is the task of creating, promoting and delivering goods and services to

consumers and businesses. Organizations identify and profile distinct group of buyers who
might prefer or require varying products and marketing mixes. The customer seeks for
value and satisfaction. The organizations can increase the value of the customer offering in
several ways e.g. raising benefits, reducing costs etc. marketing mix is a set of marketing
tools that the firm uses to pursue its marketing objectives in the target market. These
marketing tools are known as 4 p‟s of marketing.

To identify the customer needs and fulfilling hem is the basic objective of an organization.
Marketing is not just satisfying your customers, you have to delight them and this can be
done by acting upon this phrase.
“Under Promise and Over Deliver”
MCB Bank provides a winning combination of products and services to its prime
customers. It is one of the country‟s leading commercial banks, whic h ensures complete
security, and reliability in all-financial transactions.
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PRODUCT MIX & PRICES OF MCB BANK
MCB Rupee Traveler Cheque

MCB Rupee Travelers Cheques are as good as cash, infact better.
Better because with Rupee Travelers Cheques you have the power
to purchase and a feeling of security that should you lose them, you
will get a refund.
MCB Rupee Travelers Cheques are accepted at major shops, travel agents, hotels, business
establishments and MCB branches all over Pakistan. You don't have to be an MCB account
holder to buy the Rupee Traveler Cheques. Anybody can purchase them. It's a safe and

convenient way to conduct everyday business. At a time when thefts and robberies are on
the increase, you are better off carrying Travelers Cheques rather than money.
Mahnama Khushali Scheme
A 5- year fixed Deposit Scheme, targeted to persons with small savings who would desire a
regular monthly return on their investment.
Salient Features
 Minimum amount of investment shall be Rs.0.010m and the maximum amount of
investment would be Rs. 1.000m.
 Khushali Certificates can be purchased by individuals (singly or jointly) or by the
Proprietorship/Partnership concerns or Companies, etc. in their name
 The Khushali Certificate will be of five years maturity.
 The interim rate of profit offered will be minimum 1% per month. If the profit
declared by the bank is higher, additional profit will be paid.
 Zakat will be deducted wherever applicable on yearly basis whether you will be
receiving your profit or encashing your certificates.6
 As per Government Directions, tax on the profit / return is to be deducted by MCB
branches at the time of payment.

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MCB Khushali Bachat Account
Salient Features
 8% rate of return per annum.
 Returns calculated on daily.
 Average balance and paid half yearly.
 Introduced first time in Pakistan.
 The facility of helping account holders pays utility bills (electricity, telephone and

gas) through their account. No queues. No delays.
Prime Currency Account Scheme
Launched to attract deposits in foreign
currencies. US Dollars, Pound Sterling,
Euro and Japanese Yen.
Salient Features

 Owing foreign currency account
under the Prime Currency Scheme allows you to earn attractive rates of interest in
foreign currency.
 You have a choice between opening this account in your personal name and
opening it under joint names.
 Whether you are a resident or a non-resident Pakistan, MCB Prime Currency
Scheme invites all to operate a foreign currency account.
 Foreign nationals and foreign companies can also open a foreign currency account
under the Prime Currency Scheme.
 Your foreign currency account can be opened in four global currencies: The United
States Dollar, the Pound Sterling, the Japanese Yen and the Euro.
 Travellers Cheques and Foreign Currency Notes can also be issued to holders of
persona! and Joint accounts.
 Rupee Loan facility will also available against this account.
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 You can draw any amount of foreign exchange from your foreign currency account
and transfer or remit the amount freely to any part of the world without any
restrictions.

 The restrictions imposed by the State of Pakistan for the opening of foreign
currency accounts in case of passport; Work-permit and resident Visa have been
withdrawn. Your account will be restriction free.
 The Prime Currency Scheme is exempt from al! forms of taxes including Income
Tax, Wealth Tax and Zakat deductions.
 MCB Prime Currency Scheme is a world in itself.

Hajj Mubarak Scheme
A saving scheme, of 2/3 years duration, for the convenience of persons, with a limited
income, who desire to perform Hajj, was introduced. Under the 2 years scheme, a monthly
deposit of Rs.1800 is required, whereas under the 3 years scheme, the required monthly
deposit is only Rs.1200
Capital Growth Certificate Scheme
For long term depositors under which the amount deposited almost doubles at the end of 5
years. For the scheme, the minimum amount of deposits is Rs. 10000 while there is no
maximum limit. In case of premature encashment of the certificate, the depositor will profit
at the same rates as that of PL Saving Account.
Fund Management Scheme
This scheme is offered to corporate and customers and is aimed at providing better rate of
return up to 15% per annum. One of the objectives of the scheme is to develop secondary
market for Government Securities.
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Consultancy Services
In the process of privatization of public sector units, prospective buyers need professional
assistance and MCB, with its expertise, offers to them specialized service for valuation of
the market value of the industrial unit,

preparing bid documents and arranging
finance for the purchase of the unit.
Self Supporting Scheme
For the benefits of genuine worker/borrowers
who are poor and needy and for small entrepreneur the bank as evolved a self supporting
scheme: maximum amount of loan Rs.25000 and minimum Rs.5000 per individual. Loan
will be totally free of mark-up. Fax Press
This product was first of its kind introduced by using modem technology of The Fax
Machine. It facilitates speedy transfer of funds within Pakistan. The service guarantees
transfer of from one city to another, within an hour.
Night Banking Service
For the convenience of the account holder, service has, especially, been introduced at busy
commercial centers. Traders and other clients can now make deposit, with case, at such
centers up to 8.00PM.
Utility Bill Collection
With the aim of extending this service to wider range of customers, the number of MCB
branches collecting Utility Bills more than 900.
MCB Mobile Banking
At the forefront of technological excellence, MCB proudly introduces MCB MOBILE
BANKING. The convenience of accessing account balance information and mini
statements whenever want or wherever may need them, with comfort and peace of mind.
MCB Mobile Banking service is available to all MCB ATM cardholders, 24 hours - 365
days.
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MOBILE BANKING AT A GLANCE
MCB Mobile Banking gives easy and quick access to account(s) at a time find convenient,

including all holidays.
 WITH MCB MOBILE BANKING
 Check balance
 View the last 4 transactions of your MCB account(s).
 A FREE SERVICE
MCB Mobile Banking is a free service for MCB account holders who have an ATM card
of an SMS message if charged by the service provider.
 BANKING AT FINGERTIPS
Dial in anytime to get information regarding balance and mini statements.
 MCB Islamic Banking Services
Islamic banking services through exclusive units/branches offering a range of liability and
asset based Sharia compliant products like Musharika, Murabaha, Ijara and Istasana.
 MCB Car Cash
Car financing and leasing at competitive rates with flexible options Car cash finances both
semi-commercial and non-commercial vehicles for personal and business use.
 MCB Locker
The best protection for your valuables. Lockers of different capacities are available
nationwide.
 MCB Master Card
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THE FUTURE OF MONEY
Since the beginning of time, people have tried to find more convenient ways to pay, from
gold to paper money and checks. Today, money is moving away from distinct hard
currencies and towards universal payment products that transcend national borders, time
zones, and, with the Internet, even physical space.
Plastic or "virtual" money, credit, debit, and electronic cash products, inevitably will

displace cash and checks as the money of the future.
MasterCard International has expanded globally in more locations in the world than any
other card. The card was introduced by MCB Bank Limited in 1995 and now offers card
members over 15 million outlets in 232 countries.
 Photo security- The first bank in Pakistan to introduce the enhanced feature of
photograph on the card limiting fraud in case of card loss.
 Welcomed at over 3, 000 outlets in Pakistan.
 Provides up-to 45 days Free Credit.
 Joining and Annual Fees to suit you.
 24 Hour Customer Services- Call 111-700-700 and you can get information from
our customer services representatives on new card application or have your queries
resolved anytime of the day.
 Cash Advance Facilities
Available in Pakistan and worldwide with a network of over 1,000 branches and a team of
dedicated professionals, MCB is Pakistan‟s largest private sector commercial bank.
Our Consumer Banking provides customers with innovative saving schemes, products and
services. Our ATM network is the largest in Pakistan and our Pak Rupee Travelers
Cheques are market leaders. We were the first to introduce the photo card with the
introduction of the MasterCard.

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Our Corporate Banking ensures assistance from a dedicated team of professional financial
advisors for underwriting, project finance or corporate advisory services.
When it comes to banking practices, you can depend on us. We‟ve been around for over
fifty years.
 MCB Smart Card

MCB now brings you MCB SmartCard -a secure
and convenient instrument of payment with
unmatched functionalities. It provides 24-hour direct
access to your bank account
The convenience and flexibility of MCB SmartCard will help live a smarter life. It not
only helps you manage your expenses, but also avoids undue interest on your day to day
credit card transactions.
Your balance is always within your reach and you spend accordingly.
MCB is the only bank to introduce a debit card that gives the option to choose from
domestic and international card for local and global usage respectively
 Remit Express
Fastest to Pakistan - Anywhere in Pakistan.
The fastest way of getting your money across to
Pakistan. Remit Express offers low cost remittance
from U.A.E. and Saudi Arabia. Your relatives,
friends or business associates receive drafts within
72 hours.MCB Remit Express has been specifically designed to meet the needs of the
expatriate Pakistani community residing in the Gulf countries.
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 Easy Personal Loan
Helping You Do More
MCB Easy Personal Loan provides you with the financial advantage to do things you've
always wanted to but never had the sufficient funds for. Take that much-needed holiday.
Buy a car. Refurnish your house. Purchase a new TV. Finance a better education for your
children.
Salient Features

 MCB will lend you any amount, from Rs 30,000 to Rs 490,000, depending upon
your net monthly income
 You can choose tenure of 1 to 3 years for the repayment of the loan
 Bank to Bank Balance transfer
 Credit Card balance transfer
 Loan Protector Shield- insurance coverage of balance loan amount in case of death
or permanent and total disability
 Availability of early repayment option
 Repayment Arrangements
 Repayment of principal and mark-up is monthly and can repaid using either one of
the following modes:
 Direct Salary Transfers
 Payroll Deduction
Eligibility Criteria
 Minimum net monthly income Rs 10,000
 25 to 55 years of age
 Pakistani national
 At least 2 years of employment with current employer