Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
First of all I would like to thank to whom has empowered and enable me to accomplish this
task successful.
After that I want to show my gratitude to my loving parents who pray my success and always
been a source of encouragement for me. And humble teachers who make me able to be at this
position.
I also express my appreciation to all staff member of Aftab Currency Exchange G.T Road
Kharian Branch who are very cooperative and guided me a lot.
Content
1.1 INTRODUCTION
1.1.1 BACKGROUND OF STUDY
1.1.2
Purpose
1.1.3
Scope
1.1.4
Objective
1.1.5
Methodology
1.2
1.2.1
Brief History
1.2.2
1.2.3
Pest Analysis
1.2.4
1.3
Organizational Structure
1.3.1
No of Employees
1.3.2
Head Offices
1.3.3
1.3.4
1.4
Internee work
1.4.1
1.4.2
Details of supervisors
1.4.5
1.4.6
Summary of learning
2.1
2.2
2.3
SOWT Analysis
RECOMMDATIONS
REFFERENCES
1.1 Introduction
Chapter one is about introduction of report. As a part of requirement of
MBA Degree six weeks internship is necessary for student. This chapter include background
of study, purpose, scope, objective, methodology of the study. It also include of organization.
1.1.2 Purpose
Internship is the capstone experience that provides me real world
experience in a work setting. Ideally internship will enable interns to integrate and use
my knowledge and skill from the classroom discover. Where further competences
needed take the steps to gain that competence under education supervision and
become better acquaint with the type of work settings in which such competence can
be applied.
1.1.3 Scope
This study will facilitate the student regarding the working of the banking and
money exchange sector of Pakistan. Because most of the lecturers during their
lectures use the examples of bank like MCB, HBL, National Bank and many others,
student should study this chapter so that they must get the functioning.
1.1.4 Objective
I worked as an internee in ACE G.T road Kharian.
To get some experience in working with well reputed organization.
To gain knowledge about the professional environment of the company.
To deal and manage with the situation of stress.
To know about the technology utilized by the bank.
1.1.5 Methodology
There are mainly two ways that are used to collect the data.
Primary Data
On the spot observation the function of Branch operations.
On the spot observation of different processes of branch.
Secondary Data
Internet is very helpful to study more about banking and money exchange
sector of Pakistan.
& receive their payments through 30,000 locations that help us to build our credibility
and retain customers trust on Aftab Currency Exchange.
The company success stems from the expertise and market knowledge of its senior
management and this will ensure that the company is well positioned to make a positive
impact to the market and will be able to sets itself apart from other remittance providers.
Vision Statement
Aftab Currency Exchange Limited has a vision to become a regional
market leader in money transfer business and the first choice of its intent customers and
for those who wish to support less fortunate people around the world where money
transfer is the only option to reach them.
Mission Statement
Provide opportunities for growth and enrichment to our business
partners and the communities in which we operate by providing extensive global
network to recognize as one of the most innovative money transfer company in all
around the world. We are determined to achieve these goals by associating with market
leading financial institutions and involving extensive and innovation research that can
lead new services into market.
1.2.2 Nature of the organization.
One of the most sensitive businesses all over the world is
banking. Banks and Exchange Company play very important role in the economy of a
country and Pakistan is no exemption. The banking and Exchange sector plays an important
role in a contemporary world of money and economy. Banking sector influences and
facilitates many different but integrated economic activities like poverty elimination,
production and distribution, resources mobilization of public finance.
Aftab currency exchange limited registered in United Kingdom provided its registered users
in UK and Europe with the facility to send fund to designated beneficiaries in all around the
world, complying with anti-money lending rules and regulation.
Ace has gain the credibility and trust Asian and gulf community which resulted in increase of
payments to beneficiaries in Pakistan, Bangladesh, India UAE, Romania, and Gambia over
last couple of year. With efforts of over employees and trust show by community, ACE has
showed increasing trend in number of payments and amounts of payments. To facilitate the
community ACE has taken steps for further expansion of Branches and agents in other
European countries. The overseas community is serving to support their families by showing
the world their talent and utilizing their abilities in different fileds.ACE vision is based on the
community for their suggestion to further improve the service level up to their satisfaction
and the management is very pleased to make sure the high standard service.
1.2.3 PEST Analysis
Political Environment
Political and legal environment are strongly affect the
Money Exchange Company Regulatory agencies and government law composed that
environment which influences various organizations and individuals.
Business legislation is used to protect banking sector from unfair competition and
customers from unfair business practices adopted by banks.
Economic Environment
Any trend in economy also affects the Money Exchange
sector. Due to the weak economy in the country Money Exchange sector also effect.
Socio Cultural Environment:In society different beliefs, norms and values exist. People interact consciously and
unconsciously with themselves, others, organization and society. In this way Social
environment also plays very important role in the Money Exchange field.
Technological Environment:-
Technological advances also play very important role in Money Exchange industry. Growth
of economy is highly effected by change of technology. New technology creating deep roots
affects which could observe in future. On line Money Exchange involves improves
techniques. In brief PEST analysis affects the overall Money Exchange companies and
provides the information about external condition.
community for their suggestion to further improve the service level up to their satisfaction
and the management is very pleased to make sure the high standard.
Total employees
36
42
60
75
Overseas offices
ACE also has a finance department that makes financial decision for the growth of the
company. It also make regulation how to makes agents and whom to their agents .Finance
department is also responsible for showing good financial statement at the end of the year.
1.3.5
Work specialization
Departmentalization
This mean the basis by which job in an organization are grouped
together. If I talk about this concept relative to ACE. I conclude that there is great
departmentalization view in operation of ACE.
Chain of command
The chain of command is a line of authority, which mean to whom do
individual and groups report, by analysing the organizational structure of ACE it can be
found that each and every person known to whom he should report.
Formalization
The degrees to which the job within an organization is standardized are called
formalization. This also includes that how much role and regulation within organization to
direct employees and managers. As we already knows that ACE enjoys year experience so in
its long time operation it developed well formal rules and regulation to operate his business
efficient way.
Internees Work
1.4
Internee work
I have completed internship in ACE G.T road kharian. This office facilities
their customer and agents by providing the quality services. The provided different services
to their to their customers and agents. To fully satisfied their customers and agents and doing
efficient working. They assign different services to different department. Few of these given
below
ACE Remit
ACE Blink
ACE Wire
ACE Speed Deposit
ACE Online
ACE Customer Care Centre
ACE Remit
Without any bank account receive money over the counter forms banks was not
easy for customer before. But now its possible through ACE Remit that enables their
customer to enjoy this service around the globe to receive their money next day from any of
their partner Bank without any bank account. They provide fast, secure and smooth services
through a world range of our partner banks. Receivers just need a payment number, and
identity. It is just that simple.
ACE Blink
Instant Transfer
In this fast paced and timed poor world. Mandatory needs have to be
fulfilled immediately. Now send your money within 10 minutes through our Instant payment
services.
ACE instant payment is such a facility that allows you to send home money so fast and
smooth with their reliable and wide range of network in Bangladesh, India, Pakistan,
Romania, Gambia , Kenya, Nigeria. Cameroon and UAE. These services are furnished
through: southeast Bank Ltd & partners, Muthoot&mannapuram , MCB , JS , NIB , KASB,
smith& Romanian Commercial banks, Zenith & GT Bank Airtel , Al- Ansari Exchange.
ACE Wire
Telegraphic transfer
Telegraphic transfer is a hassle-free way to send money directly into
receiver accounts. Enjoy our services through a wide range network of our partner banks.
Now send money to any account anywhere within 3-5 working days.They reliable, secure and
state of the art technology enables you to make this happen.
ACE Online
New Offer! No need to carry cash anymore. Simply bring in your debit card and
send money wherever you desire.
It is easier than ever to transfer money through our new service. Just bring in your debit card
with you and proceed with your transaction. Your banking would be done through your debit
card giving you piece of mind and a smooth transaction.
Region
Kharian
Name of Manager
Ali raza
Number of employees
60
Phone Number
0537535599
Status
Online
Email Address
info@aftabcurrency.com
05/07/2013
17/08/2013
Name
Qualification
Designation
Naveel Iqbal
MBA ( HR )
HR Manager
Habib Ullah
MBA
Operational Manager
Ahtisham Zaheer
M.com (Finance )
Compliance Manager
Muhammad Adeel
MBA (Marketing)
Beenish Qamar
MCS
Zeshan Imtiaz
B.com
Product Manager
Shahbaz Ahmed
MBA
Treasury Manager
Shahzad J. Chattha
CA
1.4.2
Finance Manager
Details of Supervisors
Name of department
Supervisor
Designation
General
banking Habib ullah
department
Remittance department
Zubair Ahmed
Operation Manager
Bank deposit
Assistant
Ali
Manager
Department Finance
Office
Date
G.T
Day
08-07-2013
09-07-2013
Tuesday
10-07-2013
Wednesday
11-07-2013
Thursday
12-07-2013
Friday
13-07-2013
Saturday
Monday
Activities
Week 2
Nida Irshad
Laision
Kharian
S.#
Department Finance
Office
Date
G.T
Day
15-07-2013
16-07-2013
Tuesday
17-07-2013
Wednesday
18-07-2013
Thursday
19-07-2013
Friday
20-07-2013
Saturday
Monday
Activities
.
Week # 3
Nida Irshad
Laision
Kharian
S.#
Department Finance
Office
Date
G.T
Day
22-07-2013
23-07-2013
Tuesday
24-07-2013
Wednesday
25-07-2013
Thursday
26-07-2013
Friday
27-07-2013
Saturday
Week # 4
Monday
Activities
Nida Irshad
Department Finance
S.#
Date
Day
Activities
29-07-2013
Monday
30-07-2013
Tuesday
31-07-2013
Wednesday
01-08-2013
Thursday
02-08-2013
Friday
Week # 5
03-08-2013
Saturday
Nida Irshad
Laision
Kharian
S.#
Department Finance
Office
Date
G.T
Day
05-08-2013
06-08-2013
Tuesday
07-08-2013
Wednesday
Holiday
08-08-2013
Thursday
Holiday
09-08-2013
Friday
Holiday
10-08-2013
Week # 06
Monday
Activities
Saturday
Nida Irshad
Laision
Kharian
S.#
Department Finance
Office
Date
G.T
Day
12-08-2013
13-08-2013
Tuesday
14-08-2013
Wednesday
15-08-2013
Thursday
16-08-2013
17-08-2013
Monday
Activities
Friday
Saturday
ACE has a number of departments that perform various services to serve its
large number of customers. During my internship I try to learn basic functions of
departments. These departments are discussed one by one in which I have worked during my
internship.
There are six main departments in any branch of ACE
ACE Remit
ACE Blink
ACE Wire
ACE Speed Deposit
ACE Online
ACE Customer Care Centre
ACE Remit
Without any bank account receive money over the counter forms banks was not
easy for customer before. But now its possible through ACE Remit that enables their
customer to enjoy this service around the globe to receive their money next day from any of
their partner Bank without any bank account. They provide fast, secure and smooth services
through a world range of our partner banks. Receivers just need a payment number, and
identity. It is just that simple
ACE Blink
In this fast paced and timed poor world. Mandatory needs have to be fulfilled
immediately. Now send your money within 10 minutes through our Instant payment services.
ACE instant payment is such a facility that allows you to send home money so fast and
smooth with their reliable and wide range of network in Bangladesh, India, Pakistan,
Romania, Gambia, Kenya, and Nigeria. Cameroon and UAE. These services are furnished
through: southeast Bank Ltd & partners, Muthoot&mannapuram, MCB, JS, NIB, KASB,
smith& Romanian Commercial banks, Zenith & GT Bank Airtel, Al- Ansari Exchange.
ACE Wire
Telegraphic transfer
Telegraphic transfer is a hassle-free way to send money directly into
receiver accounts. Enjoy our services through a wide range network of our partner banks.
Now send money to any account anywhere within 3-5 working days. They reliable, secure
and state of the art technology enables you to make this happen.
ACE Online
New Offer! No need to carry cash anymore. Simply bring in your debit card
and send money wherever you desire.
It is easier than ever to transfer money through our new service. Just bring in your debit card
with you and proceed with your transaction. Your banking would be done through your debit
card giving you piece of mind and a smooth transaction.
ACE Remit
ACE Blink
ACE Wire
ACE Speed Deposit
ACE Online
ACE Customer Care Centre
After joining the ACE for internship initially it was so difficult for me to get the attention of
the employees, everybody was engaged in their own activities, and nobody was having time
to accommodate me. This is very important for me to get the attention of ACE management
and get their valuable information that is so much necessary for the up gradation of my
knowledge and for the completion of the task which was assigned to me by the institution.
But very soon I succeeded in making relationship with everyone and with the help of these
people I started gaining basic skills and qualifications during my internship.
This was my first task and with the passage of time they also realized that they can utilize my
efforts in a productive way to minimize their burden of working.
They provided me their time and information which helped me to enhance my knowledge and
they also shared their experiences with me which I believe that it would be helpful in my
practical life.
First two weeks I worked in ACE Remittance department where I get a skill to how interact
well with customers, how I represent my organization and its basic values in achieving
desired goals.
I worked with Manager where I learned lot of things including how to deal with customers,
how to manage employees and how well a manager create links outside the branch.
During the internship session I got the chance to represent myself as spokesperson on behalf
of my branch to get useful information from clients and convey their required information on
their door step.
In performing my duties I learned how to behave with seniors, how to judge customer need
and help them, how to cooperate with my officers and how to be supportive with my co
internees.
Strength
Services which are provided by ACE is the main strength. But there are
different strengths which are ACE reputation, technical management skills, customers
satisfaction, effectiveness in promotion, team oriented, continuous improvement, best quality,
respect of employees, dignity, good corporate citizenship. These are the strengths of the ACE
which make it one of the best Currency Exchange of the countries. Currency Exchange
cannot compromise its strength and fully utilize their strengths. ACE give some incentive to
its employees on base of performance and also remove the conflict between lower and higher
officers. All employees have access to officer so that if any problem with him he can
communicate it. Friendly environment created so that no one feel shyness and properly
communicate. Their employees are their strength, they also declared employee of the month
every month. For the enragement of their employee they also give them shield and cash prize.
Weakness
Ace has few weaknesses in which competition pressure which are very
difficult for Currency Exchange to handle. Currency Exchange company has very well
reputed and established competitors. That deal with the same community and also providing
good services. Like Money gram, western union.
Opportunities
Aftab currency exchange has big opportunity to grow in the market.
By extra advertising support ACE improve their services. ACE has opportunity to
attract new customers and agents give them better services. ACE customer care
services also make opportunity for bank growth.
Threats
ACE face few threats in which weak economic condition of country.
Unregistered business concerns also threat for Currency Exchange. In threats most of
the competitors provides good services ACE should follow the continuous
improvement process for satisfaction of their customers.
3
3.1
RECOMMENDATION
Shortage of staff
3.2
3.3
Online banking
3.4
Improvement suggestions
Following are my suggestion and observation to
3.4.1
Staff Training
3.4.2
Short Courses
REFERENCES
1. http://aftabcurrency.net/
2. http://aftabcurrency.net/services.php?
pages=804009953&token=13&redic=821135118&red_y
3. http://aftabcurrency.net/services.php?
pages=962131983&token=7&redic=187023258&red_y
4. http://aftabcurrency.net/services.php?
pages=549759361&token=8&redic=224225783&red_y
5. http://aftabcurrency.net/services.php?
pages=248263220&token=9&redic=926018254&red_y
6. http://aftabcurrency.net/services.php?
pages=284531980&token=10&redic=903831017&red_y
7. http://aftabcurrency.net/company.php?
pages=851915322&token=47&redic=443861864&red_y
8. http://aftabcurrency.net/company.php?
pages=978450965&token=54&redic=578866083&red_y
9. http://aftabcurrency.net/company.php?
pages=608279844&token=52&redic=349276022&red_y
10. http://aftabcurrency.net/company-profile.php
11. http://aftabcurrency.net/company.php?
pages=136544540&token=53&redic=991231124&red_y
12. http://aftabcurrency.net/team.php
13. http://aftabcurrency.net/global-partners.php?
pages=547623399&token=15&redic=560700856&red_y