America and the World

The American power has been well-recognized in all parts of the world. The series of war that are participated by America –namely: World War II and the Cold War – have given the image of a country which has power over other countries. After the fall of the Soviet Union, the United States has been the sole superpower in the world. Since then, America has been part of almost all international gatherings and endeavors to promote the concept of globalization – making the world a single place for all the citizens of the world.During these times, America has been able to prove that their superpower is not only premised on their political capabilities but also on supreme economic status. Being one of the First World Countries, America is really an economically well-off country. And it has proven its economic supremacy in the global economy. In effect, most countries, especially those that are developing and underdeveloped countries, are seeking support from the American government to pursue their own economic progress. In addition, the rise of the American culture has also become one of the most controversial international issues in the current global scenario.People from around the world are trying to be like their Hollywood idols. The McDonalds and the Coca-Cola â€Å"syndrome† are also affecting the people from all over the world. In fact, the two are always present in almost all nation-states in the world (Sloan). These are just few of the things that promote the American culture. The popularity that America has since then and up to the present is undeniably a sign of how great its power is. However, other countries perceive this thing as a tactic or strategy of America to dominate the world.There are countries that do not patronize America. Therefore not all countries or people have faith in American influence or power. They view the acts of America as ways to Americanize the world. They claim that America only wanted to expand and amp lify its power all over the world such that it has been very active in particular international issues (Sloan). Nevertheless, as Alkman Granitsas said in his column in YaleGlobal Online, America has been, in fact, tuning out the world. This implies that America has been trying to move away from the global village.Instead America has just wanted to focus its dwellings on its domestic affairs. The first reason that is raised by Granitsas is that America has become conceited by the fact that almost one-third of the world’s population wants to get in their country. Secondly, America has realized that if almost all people in the world want to be in America, and more countries look upon America for economic assistance and other political purposes, then what is there in the outside of America that the Americans should pursue? If all wants to be in America then why should they leave and go to other places in the world?As presented in the column of Granitsas, American schools, college s, and university have a high rate of decline in terms of students who take up foreign languages courses. The record shows that Americans have started to become disinterested in going outside America. The perceived attitude of the Americans are indeed logical in the sense that why should they aspire to make themselves proficient in foreign languages when in fact most of the people in the world want to be expert in speaking English? In addition, significant changes have been reported which demonstrate how America has started to decrease their interest in global issues.Their newspapers have minimized the inclusion of international or global news. Before, the front page of the American newspapers had 27 percent of international news. But as shown in the report, there is only 21 percent of international news that are being included in the front page of the American newspaper (Granitsas). It was only when the September 11 bombing that the American had faced once again the global village (Granitsas). Since then, the American government has been trying to fight against terrorism that tends to inflict disturbance in America and its people.It is now acting for the sake of its government and people and not for the whole world. It is doing its job for the sake of its government subsistence and for the safety of its people and not really to dominate the world. America, labeled as the New World, does not really want the world to kneel down before it. It does not really want to conquer the whole of the world. Its recent actions and policies are not really to gain more power and to rule the world but only to protect the interest of the state and its people.The dilemma in this topic is directed towards the perceived dominance of the America over the last centuries in the international scene and the more current attitude of America of closing its idea on global participation. Either the latter is true or the former is true is not confirmed yet. But it is true that both could m ake the global order complicated. Works Cited: Granitsas, Alkman. â€Å"Americans are Tuning Out the World. † 24 November 2005. YaleGlobal Online. 10 October 2007 . Sloan, Kim. A New World: England's First View of America. The University of North Carolina Press , 2007.

Mcb Internship Report

[pic] INTERNSHIP REPORT ON MUSLIM COMMERCIAL BANK Instructed by: Mr. Naveed Ahmed Lecturer Comsats Institute of Information Technology Presented by: Muhammad Hussain MBA-A Roll No. 65 Semester 3 DEDICATION I dedicate whole of my education along with my life to my beloved parents and respected teachers, who were always kind to me. May God Bless Them (Aamin). Muhammad Hussain TABLE OF CONTENTS 1. Preface 2. Introduction Of Bank 3. Types of Bank 4. Executive Summary of MCB 5. History of MCB 6. Vision & Mission Statement of MCB 7. Commercial Bank 8. Branches & ATMs 19 9. Product & Services21 10. Department in MCB25 11. Management Hierarchy28 12. Investment Banking 13. Know Your Customer 14. Remittance Department 15. Financial Statements 16. SWOT analysis 17. Work Performed By Me 18. Findings 19. Recommandations PREFACE Banking sector owes a pivotal importance in the economy of any country through its variant functions. This basic motivator that stressed me to join any bank for Internship Training. Moreover, the experience and practice learned during this tenure also prove very helpful and facilitating in the forthcoming professional life. This report is the result of two months Internship will, Muslim Commercial bank, Kot Fareed, Sahiwal. The motive behind selecting this bank is that it is one of the Top 10 Asia, Bank‘s. The fact remains that Muslim Commercial bank, posses an excel/cut and historical importance being the most senior and leading in terms fluids and services to Pakistan at all ages of life. I had with the strong belief that this report will guide and facilitate the readers to understand the functioning of banking system and more importantly have good knowledge about Muslim Commercial bank. My utmost efforts to elaborate this report wit, material read, listened and observed. Yet, I feel that this period was not long enough to learn and understand the complex and widespread functioning of banking sector. I am really thankful to the entire staff members of the aforesaid branch for the friendly and cooperative behavior during my internship. Muhammad Hussain MBA-A Roll No. 65 w ell-developed banking setup plays very significant role in the economic development of a country. Banking sector is precondition for the development of any country. The banking sector helps in proper utilization of resources of the country by financing the less developed sector. It also helps to keep cumulative demand in proper balance with the supply of those resources, which are responsive to monetary demand. DEFINITION OF BANK. â€Å"A bank is an institution, which deals in money. † I BROADLY SPEAKING â€Å"Banks draw surplus money from the people who are not using it at that time, and lend to those who are in a position to use it for productive purposes. † 2 IN OTHER WORDS â€Å"Bank also accepts the deposits from public repayable on demand or otherwise and withdrawal by cheques. Drafts order and include any post office saving bank. † BANK. The word bank is said to have been derived from the Italian words â€Å"Bancus† or â€Å"Banque†. The History of banking is transacted to be as early as 200 B. C. PEGETS DEFINITION: no one anybody. Corporate or otherwise can be a banker who does not: I Open current account 2 Pay cheques drawn on him 3 Collect cheques for his customers. HARTS DEFINITION. â€Å"A hanker is one who is in the ordinary course of his business, honors cheques drawn upon his by persons from and for whom he receives money on current account. † ACCORDING TO THE BANKING COMPANIES ORDINANC, 1962: SECTION 5(B): â€Å"Banker means a person transacting the business of accepting, for the purpose of lending or investment, of deposits from the public, and withdrawal by cheques, drafts, order of otherwise, and inclined any post office saving banks. † IMPORTANCE OF BANKING. Banks play very important role in the economic life of a nation. The growth of the economy is dependent upon the soundness of its banking system. Although banks so not create new wealth but borrow, exchange and consume. These make generation of wealth. In this way. They become most effective partners in the development of that country. To encourage the habit of saving and to mobilize these savings is its basic purpose. Banks deposit surplus from the public and then advances the surpluses in the form of loans to the industrialists, agriculturists, businessmen and unemployed people under different schemes so that they setup their own business. Thus banks help in capital formation if there are no banks, and then there would be concentration of wealth in few hands great portion of wealth of a country would be idle. In the fewer developing countries rate of saving is very low and due to this rate of investment and rate of growth is very low. We can take hank just like a heart in the economic structure and capital provided by it is like blood in it. As long as the blood is in circulation, the organs will remain sound and healthy. If the blood is not provided to any organ then the organ would become useless. So if the finance is not provided to agriculture sector or to industrial sector, it wills he destroyed. Loan facility provided by bank works as an incentive to the producer to increase production. Banks provide transfer of payment facility, which is cheaper, quicker and safe. Many difficulties in the international payment have been overcome and volume of transactions has been increased. These facilities are very much helpful for the development of trade and commerce. EVOLUTION OF BANKING IN INDO PAK SUB-CONTINENT: The Indian society was quite familiar with the banking, right for the beginning. There is also sufficient evidence to show that during 51h century people were accustomed to use 1-lounds as a credit investment. Loans were given to the people against personal and other Securities such as ornaments, goods and other immovable properties. TYPES OF BANK: Following is the list of various types of banks: Central Bank Commercial Bank Exchange Bank Industrial Bank Agriculture Bank I. COMMERCIAL BANK: The banks in any country speeded over with an objective to get the excessive money Form the public in the form of deposits and providing finance to the investors. These Banks are in the ground for profit earning motive and in competition with each other. These banks are providing the basic services to the customers in the form of deposits, Advances, remittances and others. Commercial Banking Scenario In Pakistan: At the time of Independence in 1947. ther were 38 scheduled banks with 195 offices in Pakistan. But by December 3l†, 1973 there were 14 scheduled Pakistani Commercial Banks with 3233 Branches in Pakistan and 74 Branches in the Foreign Countries Nationalization of banks was done on 1st January 1974 under the Nationalization Ac 1 947 due to certain objectives. But it had negative effects on the efficiency of the banking sector. Afterwards, a Privatization Commission was set upon January 22nd, 1991. The Commission transferred many banks to the private sector, i. e. Muslim commercial Bank and Allied Bank Limited. The Govt. approved and permitted the establishment of 1 0 new private banks in August 1991 Functions of commercial Banks: I borrowing of money from customers in shape of term deposits (PLS Saving Current Deposits and Notice Deposits). 2 Lending of money to borrowers in shape of finances, short-term finances, and long-term finances under various names such as Demand Finance , Small Finance, Cash Finance. 3 Agency services. 4 Remittance of money. 5 Foreign exchange business, foreign currency deposits. LCS, Imports and exports etc. ROLE OF COMMERCIAL BANKS IN THE ECONOMIC DEVELOPMENT OF A COUNTRY: Banks play an important role in the economic development of a country. If the banking system is unorganized and inefficient, it creates market adjustments and impediments in the process of development. In Pakistan, the banking system is organized in well manner. The State Bank of Pakistan since July 1st. 1984 stands at the apex and is responsible of the operation of the banking system. The other bands, which form the banking structure in Pakistan, are playing role in h he economic development of the country. The role of the commercial bank in the growth and development of the economy on sound and steady footings is discussed briefly as follows: Mobilization of Resources: The commercial banks are the most efficient organization of the economy in the mobilization the resources and making a profitable pool of these resources. Taking the Money from the savers and lending it to the investors is the most prominent job of the hank Financing Development Projects: The banks and other financial institutions advance loans for the development projects that enhance the pace of overall development of the country. These advances are made in both public and private sectors for the purpose of achieving a good and strong economic field to catty on the other activities of trade and business. Creating Climate For Capital Formation: Capital formation is done by the act of accepting people’s money and putting into Profitable ventures. This money so accumulated, make possible the availability of the needed capital by the investors. The investors on the other hand are able to get the needed funds that shortfall their requirements. Planned Development: With the help of well-organized banking sector the government is able to make good Implementation of its economic planning and can execute developmental activities for the welfare of the society. Promotion of Saving Habit: There are persons who have money but cannot put them in profitable use. The banks attract these persons by offering a variety of accounts. They provide them not only the safety of the funds but also higher returns on them. The banks, in this way, promote the habit of saving among the people. Effective Implementation of Monetary Policy: With the help of a good banking system in the country the government and the central Banks regulate the monetary supply and demand of the money. A good system helps in the implementation of the policies that are formulated by the government. l through these banks using different techniques of credit control makes credit expansion and contraction. Narrowing Regional Disparity: The banks help in bridging the country. The surplus fund of on Region is sent to the centers of deficit. The less developed areas acquire funds, put them into productive channel and increase production. The banks help in a balanced growth the economy. Executive Summary CORPORATE   PROFILE Mian Mohammad Mansha Chairman S. M. Muneer Vice Chairman Tariq Rafi Shahzad Saleem Sarmad Amin Aftab Ahmad Khan Atif Yaseen Dr. Muhammad Yaqub Mian Raza Mansha Atif Bajwa President / CEO Board Committees : Audit Committee Dr. Muhammad Yaqub Chairman Tariq Rafi Member Mian Raza Mansha Member Atif Yaseen Member HR Committee Mian Muhammad Mansha Chairman Dr. Muhammad Yaqub Member Mian Raza Mansha Member Atif Bajwa Member Risk Management Committee Mr. Tariq Rafi Chairman S. M. Muneer Member Mian Raza Mansha Member Aftab Ahmed Khan Member Committee on Physical Planning, IT System and Contingency Arrangements Sarmad Amin Chairman Atif Yaseen Member Aftab Ahmad Khan Member Atif Bajwa Member Business Strategy & Development Committee Mian Mohammad Mansha Chairman S. M. Muneer Member Tariq Rafi Member Mian Raza Mansha Member Atif Bajwa Member Credit Committee Shahzad Saleem Chairman Sarmad Amin Member Tariq Rafi Member Mian Raza Mansha Member Chief Financial Officer Tahir Hassan Qureshi Company Secretary Abdus S. Sami Auditors KPMG Taseer Hadi & Co Chartered Accountants Riaz Ahmed & Co. Chartered Accountants Legal Advisors Mandviwalla & Zafar Advocates & Legal Consultants History of Muslim Commercial Bank The Muslim Commercial Bank Limited was incorporated on 9th July 1947 in Calcutta in Bengal. After partition, the Registered Office of the bank was hifted to Dhaka where it commenced business from August 1948. The Bank transferred its registered/Head office from Dhaka to Karachi in 1956. In 1999, its registered / Head office was transferred to Islamabad and Karachi office was named as principal office. The government transferred a 26% management stake to a group of leading industrialists, collectively named National Group of which Mian Mohammad Mansha is the Major stakeholder. In 1992 a further 24% was sold to the National Group. The current shareholding structure is 50% Nationa l Group, 25% government and 25% floated on bourses. NATIONALIZATION OF MCB Muslim Commercial Bank Limited was nationalized by the Government of Pakistan in January 1974 under the Banks Nationalization Act, 1974. Subsequent to nationalization the operations of premium Bank Limited were merged with the Muslim Commercial Bank Limited in June 1974. PRIVATIZATION OF MCB The previous Government declared the privatization policy as one of its main objectives and in accordance with its policy, the Government offered Muslim Commercial Bank Limited for privatization. The Bank was the first Public sector bank, which was privatized on 2nd April 1991. The Government of Pakistan transferred management of the bank to Private Industrialists and Entrepreneurs, â€Å"National Group† by selling 26% shares of the Bank at Rs. 56 per share. Present Status Over the years Muslim Commercial bank fostered strong bonds with its customers. MCB understands them; their needs. They feel comfortable with MCB; its their bank; it responds to them; listens to them; partners with them; grows with them. That is why it is one of the leading commercial banks of the country, providing a wide range of modem banking services. At present, the banking network consists of over 1000 branches along with – controlling offices known as Area Head offices and Regional Head offices. These controlling offices are responsible for the smooth operation of the bank on National & international levels. The entire financial and operational objectives are achieved with the Human Resources strength over 12000 employees. The bank is known as the major credit provider, best place of working and paymaster in the financial (money market) of the country. Over the past few years, MCB's profits have been hit by the need to increase provisions coverage and restructuring costs associated with the downsizing of the workforce and branch network, whilst there is some need to boost provisions, these charges (necessary to bring the bank back into shape) are largely over. It has also slowly received permission from the SBP to shut down a number of unprofitable branches. In 1999 EURO MONEY recognized MCB as the best domestic bank in Pakistan. The banking sector has been worst hit by the external account crisis that Engulfed the country following the nuclear tests. Due to the nature of banks as a Medium for debt transactions the country's technical default and subsequent rating downgrade impacted them the most. Those core concerns are still not fully alleviated in the view of the investors. The closest that investors have come to positive expectations regarding external account sustainability and a possible re- rating was back in the fourth quarter of the year 1999, and this led to MCB climbing to Pakistani rupees 56 per share. Resumption of the IMF funding and a possible rescheduling of bilateral debt will positively impact the banking sector and especially MCB. State Bank of Pakistan continued the process of Banking Reforms, which included strengthen of Prudential Regulations and focus on recovery of defaulted loans. In 1999 return on Government Savings Scheme and Treasury Bills was reduced, which led to a lowering of lending rates, resulting in erosion of margins for banks but it is likely to give a boost to economic activity. MCB Rupee travelers Cheques continued to maintain their leadership position in the industry and sales registered a 45% growth over last year. MCB successfully introduced the Rs. 100, 000 denomination cheque countrywide and introduced RTC dialup tele-verification facility from Lahore city as well. Mainly there are three types of Banking in MCB. These are: CORPORATE AND INVESTMENT BANKING Corporate Banking Group of MCB is focusing on top tier local corporate groups and multinationals in a structured and focused manner building relationships leading to increased market share. Branches having Advances of Rs. 100, 000,000 per party relationship and monitoring such advances are called as Corporate Branches. These branches include corporate clients and their requirements are looked after. There are about 20 corporate branches of MCB in Pakistan. OUR VISION & MISSION Vision Statement To be the leading financial services provider, partnering with our customers for a more prosperous and secure future. Mission Statement We are a team of committed professionals, providing innovative and efficient financial solutions to create and nurture long-term relationships with our customers. In doing so, we ensure that our shareholders can invest in us with confidence. COMMERCIAL BANKING The Commercial Banking Group of MCB continues to service the trading Community and middle market, with sustained focus on developing new customer relationships and increasing the asset portfolio. CONSUMER BANKING The Consumer Banking Group focuses on the lower end of the market and micro credit. Individual customer needs are being serviced through the introduction of diverse lifestyle consumer loans and introduction of new products and partnerships with service providers. Customers will continue to use the extensive branch network, which in turn will generate deposits to feed the asset development and liquidity requirements of the Bank through its diversified and stable deposit base. ATM TECHNOLOGY At MCB, technology has a direct relationship with the needs of the customers, it is a mean of creating value and convenience for the customer. Over the last few years MCB has invested heavily into strengthening its technology backbone. Today it is leading the way in banking technology and setting new standards for the banking industry, penetrating into the local market, listening to the needs of the people. MCB’s strength lies in providing technological base at a grass root levels of the society with a challenge to educate and assimilate such systems across vast cultural and economic backgrounds. With over 768 automated branches, 243 online branches, over 151 MCB’s 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. Additionally in order to enhance the utility of the ATM services they successfully linked their ATM network to the MasterCard, Cirrus and Maestro, effectively becoming part of the largest ATM network in the world. MasterCard and Cirrus/Maestro users can now access their ATM's network. Together with the above MCB made a strategic decision to establish an ATM switch and open their ATM network to other banks. The ATM switch has been named MNET. It has following banks in MNET switch: Standard Chartered Citi Bank MCB ATM  SERVICES MCB ATM Card Welcome to a world of convenience with the MCB ATM 24- Hour Smart Card. â€Å"It Works. Anytime in Pakistan and abroad. † With an ever growing number of ATMs operating across the nation, the MCB ATM Network is the largest and most advanced of its kind in the country, and is part of MCB's continuing efforts to provide you with convenience that suits your requirements most. And now the MCB ATM has gone global. MCB's affiliation with Master Card International brings about added facilities for the MCB traveler abroad with the Cirrus and Maestro networks. So go ahead! Use your MCB ATM 24- Hour Cash Card day or night, at home or abroad. MCB ATM Regular Card The MCB ATM Regular Card allows withdrawal of up to Rs. 10,000 per day and a maximum of 3 withdrawals per day per card. BRANCHES & ATMs Mnet MNET enables all the member banks to share their electronic networks. Which means customers of member banks can use MNET as well as 1-Link ATMs Nationwide. MNET member banks ATM machines accept cards issued by MCB Bank Ltd, Citibank, Standard Chartered, HSBC, Saudi Pak Bank Limited, Habib Metropolitan Bank, JS Bank, Deutsche Bank, SME Bank, Arif Habib Rupali Bank and First Women Bank. MNET customers can use over 600,000 ATMs worldwide that carry the logo and shop at over 5 million outlets that carry the logo. M-Net switch has currently 612 ATMs in 50 cities. We plan to have the network grow in faster pace in future as MCB itself will be adding more ATMs by the end of the year. The ATM deployment has been planned in such a manner that a customer will be only a few minutes away from an ATM in major cities. This coupled with geographic coverage provides the largest convenient spread in the country, because of which we are very strongly concentrating on Diverse Coverage & Convenience. M-Net Switch ATMs are present in all the major cities of the country. They are available in the hilliest and northern areas of the country such as Murree, Abbottabad and Swat etc thus providing convenience of accessing 24 hours cash to the customers across the country. M-Net switch also has its Service Centers in the main cities of the country providing support to member banks customers. M-Net Switch ATMs are also present in all 3 main Airports of Pakistan i. e. , Jinnah Terminal (Karachi), Allama Iqbal International Airport (Lahore) & Islamabad International Airport. MEMBER BANKS & their ATM Locations In Pakistan, the ATM facilities can be availed at any of the following locations: MCB Bank Ltd. Standard Chartered CITIBANK Saudi Pak Bank limited HSBC Habib Metropolitin Bank Arif Habib Rupali Bank Deutsche Bank First Women Bank SME Bank CORPORATE IMAGE BUILDING In view of Goals established through mission and vision statement, the first step taken was to change the corporate image of the Bank, which inclined following aspects: In 1991 Bank changed its logo from to current logo which is: Which signifies the growth and prosperity? The change of logo was part of effort to change image of the Bank as a progressive bank in the minds of people of country. A comprehensive electronic media campaign was launched with a logo â€Å"Good Banking getting even better† stressing on the improvement. An on going process of Face Lifting and renovation of MCB branches was started which is still going on. The purpose of it was to ensure the overall outlook of the bank changes and employees get a better environment to work and customers of the bank feel more comfortable. NEW PRODUCTS AND SERVICES SINCE PRIVITIZATION In order to achieve long-term goals of expansion and penetration in the market. Bank introduced various new products for its customers, which cater to the needs of various segments of the society. In order to do so, a constant process of market research, evaluation and development of New products was started which resulted in introduction of various new products which were earlier not introduced by any other Bank in the country. Introduction of these products was indeed a major source of penetration for the bank and turned out to be a differential factor as compared to other banks: Prime Currency Accounts – For foreign currency deposits, (since 1991) Mahana Khushali Scheme – A monthly income plan through deposit of a fixed sum in the account, (since 1991) Hajj Mubarik Scheme – For intending Pilgrims, (since 1991) Capital Growth Certificates – It doubles the deposit of depositor in 5 years. It offers high rate of return and was introduced for fetching long-term deposit, (since 1991) PLS 365 Savings Accounts. – Introduced high earning product with feature of calculation of profit on daily product basis. No restriction on deposit withdrawals and Minimum deposit of Rs. 300,000/- (since 1992) Fund Management Scheme – To generate funds to develop secondary market for Government Securities (from 1991 to 1992) MCB Khushali Bachat Accounts – Savings accounts with added value to customers due to profit application of daily product basis. MCB Dollar Khushali Accounts – For foreign currency deposits, (launched in 1993) FAXPRESS – A fast inter-city Remittance Service, (since 1991) MCB Rupee Travelers Cheques – The most popular product of MCB, introduced Rupee Traveler cheque for the very first time in the country and it immediately fetched high share of the market and MCB share is still growing – (launched in 1993) Consultancy Services For intending buyers of State-owned enterprises being privatized, (since 1991) Self-Financing Scheme – Mark-up free finance from 5000 to 25000. (since 1991) Night Banking Services (since 1991) Utility Bills Collection Centers – Separate utility Bills collection centers were established for collection of utility bills (since 1994) MCB MasterCard – (since 1994) EXPORTMOR – Financing facility for exporter (since 1994) REMITEXPRESS – A fast remittance service between Pakistan and Middle East. (Since 1994) Personal Banking Services- In order to promote Consumer Banking system in the country a proper personal Banking service was started for High Net worth clients of Bank in selected branches (since 1995) MCB Custodian Services – Launched for local and international capital market clients. Online- The largest network of branches in the country and growing. Providing customers with 24Ãâ€"7 real time online facilities. MCB Call Center- Call now for answers to your queries-banking services, ATM services, mobile banking services, RTC services, telebanking services and MCB product information. The state of the art MCB call center is the right choice to keep you in step with your ever hectic schedule by providing you services relating to your account and Smart card at any point in time. Our well-abreast and friendly call center team is available 24 x 7, 365 days a year to ensure that your daily financial obligations are taken care of guaranteeing you a good night’s sleep. Cash Plus-Cash management services for corporate customers help customers substantially reduce their receivable collection time frame, improve cash flow and business management. 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 Mobile banking- Banking at your figure tips. Dial in anytime to get information regarding balance and mini statements. At the forefront of technological excellence, MCB proudly introduces MCB MOBILE BANKING. The convenience of accessing your account balance information and mini statements whenever you want or wherever you may need them, with comfort and peace of mind. MCB Mobile Banking service is available to all MCB ATM cardholders, 24 hours – 365 days. Just call our Help Line on 111-000-MCB(622) or any MCB online branch for assistance. Mobile Banking at a Glance MCB Mobile Banking gives you easy and quick access to your account(s) at a time you find convenient, including all holidays. Banking at your Fingertips With MCB Mobile Banking you can: Check your 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. All you pay for is the cost of an SMS message if charged by the service provider. MCB lockers- The best protection for your valuables. Lockers of different capacities are available nationwide. Pyara ghar- Flexible and competitive home financing facility with options of home purchase, construction and renovation. MCB car cash- Car financing and leasing at competitive rates with flexible options. Largest ATM Network- of 100 ATMs connected to worldwide ATM network of about 350,000 ATMs along with Cirrus and Maestro facility enabling MCB ATM card to be used All over the world & anywhere in the country. CUSTOMER SATISFACTION For any organization to succeed, it is extremely vital to ensure Customer Satisfaction. Banks being in service sector, it is highly important that high service standards be maintained and real value to their money is provided to its customers. In order to do so MCB took three revolutionary steps: Provision of comparatively batter service to its customers as compared to other banks through value added features of low cost, quick disposal of work and friendly environment. Modernization, Computerization of most of the branches enabled Bank stay abreast with the technology and provision of better service at the root level to its customers. Bank also started an ongoing process of Branch face lifting creating a better congenial environment for its customers. In order to be more customers' conscious, MCB started a very effective and timely action system on Customer Complaints Departments in MCB Brief functions and responsibilities of departments at MCB are as follows. Human Resources and legal group: ? Recruitment. ? Training. ? Transfer & posting. ? Promotions. ? Disputes. ? Staff loans. Banks operations group: ? Policy. ? Premises. ? Capital & operating expenses processing. ? Return & consolidation. ? Reconciliation. ? Product sales. Relationship co-ordination. ? Service standards. ? Customer complaints. Financial Institution & overseas group: ? Inter-bank exposure. ? Forex licensing. Financial control & Audit group: ? Audit & internal control. ? Budgeting & planning. ? Monitoring of expenses. ? Financial reports. Credit & risk management group: ? Credit proposal evaluation & analysis. ? Project financing. ? Monitoring of credit portfolio of bank. . Corporate banking group: ? Placement of all multi-national & public sector companies. Consumer banking group: ? Penetration in high net-worth customers. ? Earning increase. Customer retention. Commercial banking group: ? Conduction of normal retail operations. Treasury & FX group: ? Funds management. ? Investment management. Assets management group/ Fraud control group: ? Classified portfolio looks after. ? Special assets management. ? Restructuring / Rescheduling. ? Out of court settlements Information technology group: ? ATM / CIRRUS facilities. ? I. T. related franchise management. ? SWIFT system. ? On-line branches network look after. ? Hardware / software support. MCB’s Management Hierarchy Business of MCB MCB is in it’s over 50 years of operation. It has network of over 1,100 branches all over the country with business establishments in Bangladesh, Sri Lanka and Bahrain. The branch break-up province wise is Punjab (57%), Sindh (21%), NWFP (19%) and Baluchistan (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 The Consumer Banking of MCB provides customers with innovative saving schemes, products and services. The ATM network of MCB 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 launch of the MCB MasterCard. The Corporate Banking of MCB ensures assistance from a dedicated team of professional financial advisors for underwriting, project finance or corporate advisory services. When it comes to banking practices, the consumer can depend on MCB, because it'd been around for over fifty years. 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. Eight 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 9 cities with around 100 ATM locations. The Bank's Rupee Traveler Cheques have been market leaders for the past six years. MCB looks with confidence at year 2002 and beyond, making strides towards fulfillment of its mission, â€Å"to become the preferred provider of quality financial services in the country with profitability and responsibility and to be the best place to work†. Corporate Banking MCB's Corporate Banking Team consists of dedicated professionals with the requisite expertise to take care of the banking needs. The Corporate Bank with 20 branches has its presence in all major cities of Pakistan. The Area Offices are located in Karachi, Lahore and Islamabad. Corporate Platforms have been established in the three principal cities where teams of dedicated Relationship Managers have been posted. These Relationship Managers have been entrusted with the complete responsibility for managing the risk of their allocated portfolios, acting as allusion between the customer and the bank, and providing you with the entire range of products/services offered by the bank. The products/services of the Corporate Bank are broadly divided into the following categories: Working Capital Loans: The working capital loan includes Running Finance, Cash Finance, Export Refinance, Pre-shipment and Post-shipment etc. Term Loans: Offer Short to Medium Term Finance to meet capital expenditure of the customer business needs. Trade Finance Services: Trade finances services that include an entire range of import and export activities including issuing Letters of Credit (L/Cs), purchasing export documents, providing guarantees and other support services. Cash Management: The network of about 1100 branches in Pakistan enables the bankers to collect and disburse payments efficiently with the MCB cash management services. This also enables. the bankers to offer the customer’s choice of paper based or electronic fund transfer solutions including collection amounts, rose branch on- line transactions etc. Investment Banking The Investment Banking Team of MCB has emerged as a leading player in Pakistan's investment banking arena. The Team handles advisory, corporate finance and capital markets related transactions. Within these areas, the investment banking team of the MCB has developed expertise in the following areas of the investment: Private Placements Debt/Equity Underwriting Term Finance Certificates Loan Syndication Arrangement of Non- Fund Facilities Mergers and Acquisitions Financial Highlights The results for the year 2001 are reflective of sustaining all-around efforts over the few years, to maintain profitable growth along with prudent and proactive risk management and expansion of product range of customers. Pre-profit for the year 2001 was Rs. 2. 0 billion as against Rs. 1. 32 billion in 2000-a healthy increase of 59%. Growth in profitability is primarily due to fund-based activities through efficient assets and liability management. Fee based income was lower despite increase in volumes due to competitive pricing and discontinuation of charges on PLS accounts. Administrative expenses grew by 3% generally attributed to absorb effect of inflation and enhancement in Govt. levies. Pr agmatic efforts are, however, under way to manage costs in relation to revenues to further improve the revenue/expense ratio. Higher level of provisions was in the line with the Bank’s policy to upfront recognize problem lending. In 2001, the Bank managed to recover Rs. 2. 19 billion as against Rs. 1. 97 billion in 2000. The balance sheet footings have increased to Rs. 187 billion from Rs. 175 billion primarily based on deposit growth. Deposits have registered a substantial increase of 14% and stand at Rs. 154. 5 billion in 2001 as against Rs. 136 billion in 2000. Despite of low PLS deposit rates, branch network has shown a commendable performance by increasing and managing the deposit mix. This has been possible by improvement in customer services and targeted sales of products like ATM cards. Net advances as at December 31, 2001 stood at Rs. 76. 6 billion, a reduction of Rs. 9. 8 billion. Demand for credit from manufacturing and export clients fell considerably, post September 11,2001, which led to a reduction in advances as on the balance sheet date from a higher level during the year. Leadership in Rupee Travelers Cheques: Sales have grown by 26% in the year 2001 and continue to reflect meteoric growth. With the extension of the generic brand, increase in the range of denomination backed by a powerful verification system and over 900 branches involved in this business. Leadership in ATM’s: With around 100 ATMs and 170 online branches, MCB is again an undoubted Indus leader with connectivity extended to 16 cities of Pakistan. In the year 2002 further ATM will be deployed and connectivity increased to other cities. MCB ATMs not only serve 24-hour cash convenience but also improve on the counter services and turn around time at cash counters. The MCB ATM Master Card with Maestro and Cirrus networks has become a global ervice furthering the convenience to our customers. Traveling customers can access their account from a large number of internationally deployed ATMs and point of Sale (POS) units. The MCB ATM Switch – MNET is now operational. IT GROUP of MCB has been able to create the largest network for secure electronic financial transactions in Pakistan. Local branches of six international banks are connecting to this network. This will enable participating banks to use each others' ATMs resulting in an increased convenience to MCB customers and customers of other banks. The IT Group is currently expanding the network capability to provide the customers access to banking through multiple electronic channels. American Express Bank enters into an ATM sharing alliance with Muslim Commercial Bank: Muslim Commercial Bank Limited and American Express Bank Ltd. signed a Memorandum Of Understanding creating a mutually beneficial alliance, which will enable customers of American Express Bank to use ATM facilities offered by Muslim Commercial Bank. Mr. Taufiq A. Hussain, Country Manager, American Express Bank Ltd. , Pakistan in a simple ceremony in Karachi, signed the MOU. MCB has setup an ATM Switch called MNET and American Express Bank is the fourth foreign bank to sign the sharing MOU. Speaking at the ceremony – AEB Country Manager said, â€Å"Customer service quality is the cornerstone of AEB's philosophy and this initiative will significantly enhance our customer service capability for our consumer banking clients†. He added â€Å"After having considered various routes to acquire this capability AEB selected MCB as an ideal partner keeping in view the large network capability and long standing relationship with MCB†. MCB with a network of over 1000 branches in the largest private sector bank of the country. The Bank is a market leader in 24 hour banking convenience with the largest nationwide ATM network covering 11 major cities in all provinces of the country. CITI bank and Muslim Commercial Bank sign ATM sharing agreement: Muslim Commercial Bank and CITI Bank signed an ATM sharing agreement today. By the middle of this year, both Banks’ customers will be able to use the services of either Bank's ATMs. Seen at the signing  ceremony are Mr. Haroon Basheer Sheikh, Head of Consumer Banking and Information Technology – MCB and Mr. Nadeem Hussain, General Manager Global Manager Global Consumer Banking – CITI Bank Pakistan with their respective team members. Standard Chartered Grindlays and Muslim Commercial Bank to launch co-branded credit card: Rated as Pakistan's best banks (‘domestic' and foreign' respectively) by Euro money magazine Muslim Commercial Bank (MCB) and Standard Chartered Grindlays signed a Memorandum of Understanding to launch the first-ever joint servicing co-branded credit card in Pakistan. Under the arrangement the partnering banks will have shared as well as distributed responsibilities to service the customers in line with their respective strength's. The Partnership will derive its strength by combining the large diversified customer base of MCB and the track record of Standard Chartered Grindlays in managing a successful credit card business in Pakistan. MCB, the largest Private Bank in Pakistan, has over four million accounts domiciled in 1100 branches across the country. Standard Chartered Grindlays, the largest foreign bank in Pakistan, has over ninety thousand satisfied card members and is a leading international player in the cards business. With this new initiative the customers product of the two leading banks in Pakistan. This agreement further strengthens the relationship between these two banks; earlier this year Standard Chartered Grindlays signed an agreement to join MCB's switch/ATM network, the largest in the country. FAYSAL BANK LIMITED to sell Muslim Commercial Bank’s Rupee traveler’s cheques: Muslim Commercial Bank Limited and Faysal Bank Limited signed an agreement for the Sale and purchase of MCB Rupee Travelers Cheques at all 11 Faysal Bank branches in Pakistan. Main categories of Account opening form: Type of Account There is a category of â€Å"Type of Account â€Å", the customer can check any option to open a certain account. Following are certain kinds of accounts: Current PLS-Saving MCB Saving-365 Khushali Bachat PLS Term Deposit New Foreign Currency Account (Current/Saving) Currency There is a category of â€Å"Currency† in the form: In this section there are four kinds of currencies are given in which MCB opens account. They are: Pakistani Rupee US dollar Nature of Account There is a category of â€Å"nature of account† i. e. Individual Partnership Sole proprietor Joint stock company Introduction Before opening an account a banker should ascertain weather or not the person desirous of opening the account is a desirable customer. There is Reference section in the form in which the person who wants to open an account must provide a reference of a person who has already an account with MCB. For current account only reference of current account holder is accepted whereas for saving account reference of any whether current or saving is allowed. Preliminary investigation is necessary because of the following reasons: ? To avoid frauds ? Safe guard against unintended overdrafts ? To avoid negligence ? To replay inquiries against clients ? To comply with Prudential Regulations/Laws There is a specimen signature card with the bank on which the signature of account holder is to be taken while opening of his account. And then he is issued with a cheque book. It is advised that one must keep his cheque book under proper care but there are cases that people sometimes lost their cheque books. In that case there is an application form in the name of manager is available and the customer who wants to get a new cheque book fills that form and gives it to the manager then he is provided with a new cheque book. In other case a requisition slip is present in the cheque book and whenever the customer wants a new cheque book he simply fills that requisition slip and presents it to manager and gets a new cheque book. Know your Customer In view of recent heightened global efforts to prevent the possible use of the banking sector for money laundering, terrorist financing, transfer of illegal/ill-gotten monies and as a conduit for white collar crime etc, the importance of â€Å"Know your Customer† has increased. The objective of knowing a customer is to have a fair idea about the identity, financial resources and general information about the customer at the time when the relationship is established. A banker must have following information about the customer: Customer’s Name: Enter complete name as mentioned in original Identity Card/other business documents. Nature of Business/Profession: If the customer is of salaried class then banker will enter his employer’s name. If the customer is a businessman, trader, sole proprietor, then the banker will enter the business name. Also enter the customer’s title/position and address of the employer/business. Addresses with P. O. Box are not acceptable. Similarly remarks like â€Å"Private Service†, â€Å"Business† are not acceptable, rather specify what type of company/business the customer is associated with. In case of individual his attested Photocopy of national identity card or passport is required, in case of salaried person, attested photocopy of his sarvice card. In case of partnership attested photocopy of identity cards of all partners is required and attested photo copy of â€Å"Partner ship Deed† along with a copy of Registration certificate with registrar of firms. In case of Company, Memorandom and Article of association, certificate of incorporation, certificate of commencement of business and attested photocopy of identity cards of all the directors is required. Address: Enter the complete residential/business address. Within the brackets you may also provide prominent address identification marks for ease of physically locating the address. Contact Number: Enter home, official, mobile, fax numbers and e-mail address (if available). Special Instructions: Clear-cut operational instructions must be obtained from the customers. If the customer has not given any special instructions in specified column, the column must be cancelled by drawing a line, as this column must not be left blank under any circumstances. The bankers considered the following points while opening the accounts: Remittances Department The next department I worked in is Remittances department. The incharge of this department, Mr. Khalid told me that there are four kinds of remittances they deal in: ? Telegraphic Transfer ? Mail transfer ? Demand Draft ? Pay order Another task of this department was to issue the traveler cheque and to give the ATM card numbers. Here is a little detail of all of these works: Telegraphic Transfer: It is a facility provided by the bank through which a customer can send or transfer any amount immediately. The procedure for the customer is simple. And more importantly the person who wants to transfer the funds may not have the account in the bank even then he can avail this facility. The procedure is like this, a customer walks in and fills an application form named as â€Å"APPLICATION FOR REMITTANCE† in which he mentions the bank to which he wants to transfer the funds also the name of the payee, his account number, also he has to mention his own address etc. then there are charges for this special facility provided by the bank and the bank receives these from the person who is sending the funds. Further there are two kinds of telegraphic transfers: Ordinary TT TT The ordinary TT reaches to its destination after two days of its dispatchment whereas simple TT reaches to its payee immediately because the payee branch is informed immediately through telephone and fax. For ordinary TT only two vouchers are prepared: Commission Voucher Postage Voucher Whereas for TT three vouchers are prepared: Commission Postage Telephone charges In the application form of TT there are two options available for the person who is sending the funds i. e whether the payees account is credited for the same amount or payee is simply to receive the payment in hand. Documents Prepared: The documents that are prepared for the TT are: TT register Remittances Confirmation of cable sent And afterwards whole of these information are recorded in a big register named as: Branch outward remittance register And after this procedure the respective branch is informed through telephone. Recommendations This whole procedure is quite lengthy and hectic. So the only recommendation that could be given is, it must be computerized Another task of the accounts department is to give the customers the ATM card number. The procedure is like this that when a customer applies for the ATM card, he is given a certain time to collect the card. On due date the customers gets his card from manager and for safety purpose the ATM number remains with the account department and the customer gets his number from there. Traveler cheque In account deptt there are two people working. One’s job is to issue the traveler cheque and the other is suppose to make the payment of TC. This work is separated for the purpose of safety and to prevent the frauds. When RTC is issued it is written in Traveler cheque register and when it is paid it is posted in MBIS. Traveler cheque register is used to maintain the stock of RTC’s. When RTC is issued HO RTC deptt. Is credited and when RTC is purchased it is debited. One of the person has the complete register of staff’s salary he maintains a staff salary register. The remittance facilities of the MCB are according to the need of the customer. Your beneficiary will receive the amount even if he/she does not have an MCB account. The Remit Express facilities the MCB can be avail in the following Bank/Companies: Demand draft Demand Draft can be explained as the instrument which is payable on demand as its name implies the same, the value of which has already been received. This instrument is issued by one branch and payable at other branch of same bank or other bank’s branch e. g. DD issued by MCB payable by ACBL. Procedure of issuance: The customer wants to make the DD fills in the same form or application i. e of remittances in which he mentions the DD, the beneficiary’s name, the place, the mode of payment i. e, whther he wants the payee to receive the cash, cheque or debit his account, signature and his name and address Check the application form. Commission is charged as per bank policy. Also excise duty & withholding tax are recovered as per applicable rates. Entry is then made in DD issued register. In the DD issued register, separate folio is allotted for each drawee branch and a serial control number is applied. The entries made is DD payable account is credited and cash is debited and when the payee receives the cash against DD, DD payable account is debited and cash is credited. Procedure of Cancellation of D. D. On receiving the application for cancellation in writing along with original DD the signature of the applicant is verified This signature should tally with the signature on DD application form. Then cancellation is marked in DD issued register and the drawee branch is Informed about cancellation. Issuance of Duplicate DD In case of Lost/Stop Payment: Application is received and signature is verified, then the drawee branch is informed about the loss of DD and further they are advised to tell the branch the status of DD i. e whether it has been paid or not. Then a duplicate of DD is issued with â€Å"Duplicate in lieu of original DD No____ dated____ reported lost† written on its face. The duplicate DD will have the same control number. PAY ORDERS: Pay order is a kind of instrument issued and paid in the same branch. It is normally issued for payment in the same city. Procedure of Issuance of Pay order: The customer fills the remittances application form and mark check on pay order. On receiving application he is issued with a pay order after receiving charges. All pay orders are crossed i. e â€Å"Payees a/c only† Procedure of Cancellation of Pay order: On receiving application for cancellation of pay order along with the pay order, it is cancelled and cancellation charges are recovered. Duplicate Pay Order: If the payment of pay order has not yet been made a duplicate copy of it can be made on receiving application from the customer. The duplicate charges are recovered from customer. Clearing Department Clearing: Clearing implies a system by which banks exchange cheques and other negotiable instruments drawn on each other within a specified area and thereby secure payment for their clients through the clearing house at specified time in an efficient way. Clearing House: In past State bank was indulged in clearing function i. e for the settlement of mutual obligations of different commercial banks. As all banks have their accounts and keep a certain percentage of the cash deposits as a reserve with Central Bank, it become easy to set up their mutual obligations by off-setting their accounts. The claim of banks against each other is settled by simple transfers from and to their accounts. These methods of settling accounts though the central bank, apart from being convenient is economical as regards the use of cash since account are adjusted through accounts, there is usually no need for cash. At present this function of state bank is performed by NIFT. And now clearing house is a place where NIFT’s representatives of all scheduled 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 acts as controlling member instead of State Bank of Pakistan. Reasons of Cancellation of Membership: When a bank is no longer a scheduled bank. When any bank fails to meet its liabilities. When It is prohibited to receive fresh deposits by State Bank of Pakistan or Central Government. Advantages of Clearing: dAs clearing does not involve any cash etc and all the transaction takes place through book entries, the number of transactions can be unlimited. dNo cash is needed, as such the risks of robbery, embezzlements and pilferage are totally eliminated. dAs major payments are made through clearing, the banks came manage cash payments at the counters with a minimum amount of cash in vaults. dA lot of time, cost and labor are saved. Since it provides an extra service to the customers of banks without any service charges or costs, more and more people are inclined and attracted towards banking. Rules & Regulations of Clearing House: Timing: -Monday through Saturday 1st Clearing 10. 00 A. M. 2nd Clearing 2. 30 P. M. ? Cheques and other negotiable instruments are sent through NIFT’s representative for exchange. ? All the cheques and negotiable instruments must be properly stamped and suitably discharged ? Each and every Cheque must be accompanied by an objection memo when returned unpaid duly initialed. ? Each bank is required to maintain sufficient funds in the principal account with SBP to meet the payment obligations. The State Bank of Pakistan debits the account of each member of the clearinghouse with the proportionate working expenses incurred on the operation of clearing house. These expenses are very nominal. Functioning of Clearing House: All the scheduled banks which are the member of clearing house, must maintain accounts with SBP, by debit and credit to which the clearing settlements are made. If on a particular day, a bank delivers Cheque and other negotia ble instruments worth more than the total amount of Cheque received by it that banks account with State Bank of Pakistan will be credited with the differential amount. If on the other hand the total amount of Cheque and other negotiable instruments drawn on a certain bank by other banks is more than the total amount receivable by it from other banks, then this bank's account will be debited on that day. The Cheque delivered to the other banks through NIFT’s representatives for clearing are called outward clearing; whereas Cheque received from the representatives of other banks for payment are called inward clearing. How settlement is done in NIFT? Presume that MCB got the Cheque, which are drawn on UNION BANK, UBL and ACBL for amounts Rs. 50,000/-, Rs. 30,000/-, Rs. 5,000/- respectively, its total being Rs. 95,000/-. It means that this amount is to be credited to MCB A/c with S. B. P. On the other hand the Cheques drawn on MCB are from UNION BANK, UBL & ACBL of Rs. 15,000/- Rs. 75,000/- and Rs. 30,000/- respectively, its total being Rs. 1,20,000/-. It means that this amount is to be debited from MCB A/c. The difference between Rs. 95. 000/- credit and Rs. 120. 000/- debit is Rs. 25,000/- debit, which means the house, is against MCB for Rs. 25,000/-. If we separately show it then, MCB has to receive Rs. 50,000/- from UNION BANK and to pay Rs. 15,000/- to UNION BANK so difference is Rs. 5,000/- credit. MCB has to receive Rs. 30,000/- from UBL and to pay Rs. 75,000/- to UBL so difference is Rs. 45,000/- debit. MCB has to receive from ACBL Rs. 15,000/- and to pay Rs. 30,000/- to MCB so difference is Rs. 15,000/- debit. GRAND TOTAL: + 35,000, – 45,000, -15,000 = -25,000 i. e. Rs. 25,000/- debit. Hence MCB A/c with State Bank of Pakistan will be debited with Rs. 25,000/- and the contra will be other banks accounts respectively. This is called as â€Å"Debit and Credit Rule†. The amounts and number of instruments received are entered in the House Book from the main schedules of the respective banks. The State Bank of Pakistan maintains two major books for clearing house purpose :- HOUSE REGISTER. This book contains the information about the amounts and number of cheques received and delivered by each bank is noted down. Its columns are just like our clearing house-page. HOUSE BALANCE BOOK: This book contains the amount and number of cheques received and delivered by each bank as well as the amounts which are to be received and paid to respective banks through their accounts by State Bank of Pakistan is written down. This book has the following columns:- |Initials |To Pay Amount |No. f Cheques Received/Delivered |Name of Bank|Received Amount |To Received Amount|Initials | Both sides of this book are balanced. Vouchers are prepared from the slips received from the respective banks and the amounts are compared with this balance book. Summary of Clearing House Working: The working of clearing house may be summarized as under:- ? The instruments are delivered to the respective banks. ? The instruments drawn on our Bank are received from other banks. ? The amount and number of instruments received are entered in the House Book from the main schedules of respective banks. The amount of instruments delivered, received and the difference is written on a Figure slip provided in the clearinghouse and the slip is returned to the supervisor. ? The instruments are arranged branch-wise. ? Schedules are detached and kept safely. OUTWARD CLEARING AT THE BRANCH: The following points are to be taken into consideration white an instrument is accepted at the counter to be presented in Outward Clearing: ? The name of the branch appears on its face where it is drawn on. ? It should not be stale or post dated or without date. ? Amount in words and figures does not differ. Signature of the drawer appears on the face of instrument. ? Instrument is not mutilated. ? There should be no material alteration if so, it should be properly authenticated. ? If order instrument, suitably endo rsed and the last endorsee's account being credited. ? Endorsement is in accordance with the crossings if any. ? The amount of the instrument is same as mentioned on the paying-in-slip and counterfoil. ? The title of account on the paying-in-slip is that of payee or endorsee (with the exception of bearer cheque). If an instrument is in order then our bank's special crossing stamp is affixed across the face of the instrument. Clearing stamp is affixed on the face of the instruments, paying-in-slip and counterfoil (The stamp is affixed in such a manner that half appears on paying-in-slip and half on counterfoil). The instrument is suitably discharged, where a bearer cheque does not require any discharge and also an instrument in favor of a bank need not be discharged. The instrument along with paying-in-slip is retained while the counterfoil is given to the customer duly signed. Then the following steps are to be taken:- ? The particulars of the instruments and the pay-in-slips or credit vouchers are entered in the Outward Clearing Register. Serial number is given to each voucher. ? The register is balanced, the credit vouchers are separated from the instruments and are released to respective departments against acknowledgement in the register. ? The instruments are arranged bank-wise. ? The schedules are prepared in triplicate, two copies of which are attached with the relevant instruments and the third i s kept as office copy. ? The house page is prepared from schedules in triplicate. ? The Officer Incharge with branch stamp signs the schedules and house pages. ? The grand total of the house page is taken and agreed with that of the outward clearing register. The instruments along with duplicate schedules and house-page are sent to the Main Office. ? However the amount is kept in float till final status of various instruments is known from respective paying banks in second dealing. The entry of the instruments returned unpaid is made in Cheques Returned Register. If the instrument is not to be presented again in clearing then a covering memo is prepared. The covering memo along with returned instrument and objection memo is sent to the customer who deposited the same in his account. INWARD CLEARING OF THE BRANCH: The particulars of the instruments are compared with the list. The instruments are detached and sorted out department-wise. ? The entry is made in the Inward Clearing Regis ter (Serial Number, instrument number, Account number and amount of instrument is written). ? The instruments are sent to the respective departments against acknowledgement in the Inward Clearing Register. ? The instruments are scrutinized in each respect before honoring the same. OUTWARD CHEQUES RETURNED UNPAID: These are the cheques returned unpaid by us presented to us in Inward Clearing due to some objections. INWARD CHEQUES RETURNED UNPAID: These are the cheques returned unpaid to us, which were lodged by us in Outward Clearing. RETURN OF CHEQUES AFTER CLEARING HOUSE: Suppose all cheques received in the inward clearing are passed and later on it is found that a cheque should have been returned. In such cases, we contact the collecting branch and request them not to make payment against the proceeds of the cheque which was not returned unpaid by us in due time. The cheque with objection memo along with a covering letter is sent to the collecting branch, making request to issue a payment order in our favor. To balance the cash-cum-day book we may debit Suspense A/c Sundry Debtors with the approval of the manager. When the payment order is received, it is lodged in clearing and the Suspense A/c -Sundry Debtor is adjusted accordingly. SPECIAL CLEARING: In addition to the normal clearing function at Clearing House it is mutually agreed to hold an extra clearing at the Clearing House on a particular day and time, which is known, as â€Å"Special Clearing†. It is arranged due to rush of work arising out of say, m

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Introuduction to Civil Eng. class the assigment is about the Ethics - Essay Example The supervising Engineer also said that since the firm was involved in other business with this client as well, the former would only inform the clients about the location of the drums and nothing else; that is what the engineer did, including suggesting to the client that the drums be removed. The client thereafter contacted another firm to have the material removed. The Board decided that the engineer was wrong, as his prime concern should have been public safety. The problem that arises here is whether the engineer should disclose the facts to proper authorities for the public welfare, or stay true to the confidentiality clause ;though the Code dictates that the confidentiality of the client should be maintained at all times (Section III.4) and that information regarding the client should not be disclosed without the client’s consent (Section II.1.c), however, it also lays down quite emphatically that the safety, health and welfare of the public should be paramount (Section I.1, Section II.1) and that in case their professional judgment is overruled by such concerns, they should notify their employer (Section II.1.a). So, even though the engineer could say that he was protecting the confidentiality clause, he should have informed the proper authorities, or his employer, based on public safety concerns. The engineer was supposed to act with objectivity and integrity (Section II.3.a, Section III.1), and was not to do anything that discr edited his profession or deceived the public (Section III.3). The engineer owed the duty to his client as well as the public, which included the employees of his client, to report the matter to his client as well as to the proper authorities. He should have made sure that the hazardous waste was properly disposed off, as laid down by the law. However, on the same note, he was to keep the information of the

Analysis a movie Essay Example | Topics and Well Written Essays - 1250 words

Analysis a movie - Essay Example Alice is a star in the game but it is hard to say the same for the movie. The initial 3D scenes have been repetitive and are hardly impressive, a weak beginning was not well received by the audience and as a result of which the movie failed to live up to the expectations of the fans. The paper will expansively present the other important aspects of the movie. 2. â€Å"In a world ravaged by a virus infection, turning its victims into the Undead, Alice (Milla Jovovich), continues on her journey to find survivors and lead them to safety.† (After Life) The materials used in the movie are quite unique and one of its kind, the movie is a 3D movie and it involves animation and special effects. The effects however have not been presented as the fans expected it to be. 3. The artist is trying to present a world in which Zombies grow by leaps and bounds, a virus is affecting the human race and annihilation has been portrayed in the movie. B. Visual Arts 1. The movie bears no resemblance to reality; it is purely a fictitious flick. It is based on human beings turning into Zombies because of a virus and it has nothing to do with reality. 2. The artists is portraying the future in the movie, a virus which would affect our human race might end up making us all Zombies as shown in the movie. It represents the future. 3. The work of the artists is without a doubt good but the movie is purely a fictitious movie and bears no resemblance to reality so the work can never be believed. C. Artistic Concept 1. â€Å"The movie contains strong bloody violence and language.† (British Board of Film Classification) Being a 3D movie the visual artists have done a good job, Alice stood out for her performance; she is much more adored by the fans in the game than in the movie. Nevertheless her performance was a tour de force, she loses her supernatural powers when she is injected in the movie, she becomes human again but she single handedly carries the movie, the movie would hav e done very badly had it not been for her. Other characters were merely present in the movie but had no effect whatsoever. The performance of the characters is fine but being a fictitious movie it is hard to believe the scenes in the movie, it is fair to say that the movie is entirely fictitious. 2. Viewer interaction fails in this movie and as an inevitable result of which the movie also fails, the movie does not present enough opportunities to the viewers to interact and get involved in the movie. 3. The work does not appeal to the emotions because it is fictitious, it would have appealed to the emotions of the audience had it had any resemblance to the reality, on top of that it is not a job well done. D. Use of Lighting in Creative Designs 1. â€Å"The movie was written by Paul W.S. Anderson.† (Writer) The use of lighting has been good in the movie; the character of Alice has been presented very vividly in the movie. The presentation has been certainly special because the movie is a 3D movie, being a third dimensional movie it had nothing stunning in it, several other 3D movies are way better than this movie. The opening scene in which Alice and her entourage enter into Umbrella’s headquarters is good, it resembles the opening scene of the game and this made the fans happy and they also

My Driving Experience Essay Example | Topics and Well Written Essays - 750 words

My Driving Experience - Essay Example I was driving with my dad to the beach on a hot summer day when our car got stuck in traffic. It was a holiday and, thus, most of the people were out. Our car was at a signal. On green light, the driver in front of our car did not move. My dad has always been very short-tempered but, still, he kept his nerves. We got out of the car, and went to the driver. I saw that he was trying to grab his cell phone from the back seat that his kid has thrown there. â€Å"Excuse me! The signal is green from ages. Will you mind moving?† My dad asked him. â€Å"Yes, I will mind moving until I grab my phone,† he replied with much arrogance. â€Å"How rude that is!† Dad exclaimed, â€Å"Don’t you know you are bugging others in the line?† â€Å"No, I don’t!† He shouted at dad, â€Å"I’ll move, just go, I know I don’t have to stay here forever. Hey Jimmy, did you find the damned phone?† This time he shouted at his kid. The signal had already turned red again. My dad wanted to end the situation without any quarrel. But he looked annoyed, and this annoyed me. I wanted to punch that man right in his face. He really wanted some lesson. But I kept silent, and let my dad talk. â€Å"Hey man,† Dad said loudly this time, â€Å"I won’t allow you to be rude to me. Move your car right now. I’m getting late.† Everyone was giving horns and shouting at us to move. I could see all other drivers staring at us. The man had found his phone by then. He gave us a wave with his hand with a look as if trying to tell us to shut up. I heard him say, â€Å"Piss off, you old man!†... I could see all other drivers staring at us. The man had found his phone by then. He gave us a wave with his hand with a look as if trying to tell us to shut up. I heard him say, â€Å"Piss off, you old man!† That infuriated my dad, but I held his arm and told him not to indulge in quarrel. I could sense him getting furious. The man turned his ignition on, and moved away with a jerk staring at us which was even more exasperating. We, at once, got into our cars and moved away from the scene to unblock the traffic behind us. We, then, talked about road sense and driving tips. I could see that my dad was trying to make me learn how to be conscious on road. Although this experience was a bad one, but it left a big positive impact on me, since I found out how important driving sense could be. I decided to learn more about driving and road sense, and to be respectful to people I met on road. There was a lesson for me in this experience. I learned that, it is a very unmannerly thing to annoy other drivers on road, especially on signals. No driver should look hither and thither, looking for lost things, eating food, reading magazines, talking on cell phones, quarreling with other passengers, or doing things that distract him from concentrating upon driving. Hence, to ensure peaceful driving, drivers must stick to the indispensable dos and don’ts of driving, if they want to keep others and themselves safe and courteous. Safety of others is just as important as our own safety on road. This lesson was something that I learnt from the overall experience that day, and that has continued to make me a good driver since then. I would suggest the audience to drive positive lessons and impacts from any negative event that they encounter.

The Introduction to Business Law Essay Example | Topics and Well Written Essays - 1000 words

The Introduction to Business Law - Essay Example This law is called the judge made law. In case of statute law made by the parliament judges interpret in accordance and in connotation with the facts and issues. The quality decisions come from quality of judges and the success of any trade or business if not entirely at least partly depends up on the quality decisions of the judges. Therefore the first part of the statement 'The commercial success of the City of London is, in part, dependent on the quality of the judges in the Commercial Court' is rightly said. It is not in dispute that the judges working all the areas of work in England and Wales are of the highest calibre. They have created a strong and independent judiciary which command respect nationally and internationally. However, an independent Judicial Appointments Commission will take responsibility for the selection of judges in England and Wales cannot be seen as an attempt by Governement to meddle with the justice delivering system. As of now all the judicial appointments are entirely in the hands of the Government. To have a transparent, independant judicial system it is imperative that the system must be independent from governement. If the appointments of the judges are in the hands of governement, it is quite not possible to believe that the judiciary is independent of governement. The existing Commission has not received any criticism and it proved it is efficient and successful. But the commission is assigned with limited functions such as (a) conducting an ongoing audit of judcial appointments, with a right to access every document, access to interviews and shifts and opinion in relation to every appointment. (b) to recommond the Lord Chancellar to improve the process of appointment (c) to consider complaints relating to application appointment procedures in individual cases (d) to receive coments from organisation and individuals on appointment process. With these limited assignments it could achieve limited results. Under the existing system the responsibility of appointing the judiciary is solly resting on Lord Chancellor, and Governement Minister. Commission has not much involvement in appointment procedure except as an observator. This system could not win the confidence of the public. Apart from this, as judicial appointments are made from a pool of qualified and meritorious candidates, this small group of intellectuals is dominent by white, male and a specific narrow social background. Without distrubing the standards for appointment of a judge, it is necessary to open up the system to have people of calibre from myriad social as well as legal backgrounds so as to represent the society as a whole. The commission has to see that the appointment procedures attract more women, more minority members, and lawyers from a wider range of practice. Such a system affords opportunities to all qualified candidates with the appropriate professional skills and expertise. This will instill

Bicycles in Miami Essay Example | Topics and Well Written Essays - 500 words

Bicycles in Miami - Essay Example ate in the manufacture and sale of high quality bicycles in the city and the growth of the industry portrays the both the potential and the future of the place of bicycles in Miami, Florida. Miami is among the leading tourist destinations in the United States famed for its wide beaches. As such, the city experiences an influx of visitors especially during summer a feature that piles pressure on the city’s transport system. In order to overcome such challenges, the state government encouraged the use of bicycles thereby giving rise to the number of bicycles in the city. The history of the city therefore includes the high number of bicycles (Mathur, 2014). Progressively, bicycles remained a fundamental feature of transport in the city as the industry expanded owing to the concerted government effort to promote clean and safe environment. As a preferred tourist destination, the use of bicycles in Miami offered a cheaper means of transport especially for the locals who had to compete for public transport with the rising number of tourists visiting the city annually. This explains the historical position of bicycles in the city, the position has not changed since to d ate both locals and tourists alike prefer the use of bicycles as the preferred means of transport in Miami. The use of bicycles remains commonplace in Miami as the government continues to expand projects that foster the growth of the industry through systematic policies. The wealthy and the rich in Miami continue to show preference for bicycle as a means of transport owing to the government’s endeavors to improve the appreciation of the means of transport. The trend spread throughout the city owing to the health benefits associated with cycling to work. Besides sustaining the cleanliness of the environment, cycling to work promises a lean healthy body since it provides the body with intense physical activity thereby burning used calories in the body (Frantz, 2009). Different arms of the government

Analzye a topic Assignment Example | Topics and Well Written Essays - 250 words

Analzye a topic - Assignment Example The artifacts depict the river of life as its prevalent theme. Through this representation, the artist intended to show the world the significance of environmental conservation. Moreover, the artwork shows that no matter how minute our contribution to the planet might be we are capable of transforming the universe. The painting is also utilitarian since it shows the spirit of restoration. On the other hand, the Supercalifragilisticexpialidocious by Alexander McQueen illustrate utilitarian themes (Alexander web). The artwork creates or utilizes space, which was a major theme in the 20th century. Through the creation, the artist demonstrates our ability to use minimal space through thoughtful designs. Due to economic and social demands, women were expected to undertake roles or duties that were performed by men. The black coat initially designed for women, also shows social changes that accompanied the 19th century revolutions. It was a utilitarian belief that economic and social prosp erities could only be achieved if women changed their thinking. The coat makes its wearer to appear huge. Indeed, the coat inspires its wearer, making them have a sense of pride and a conquering

Organization Development survey (advantage and disadvantage) Essay

Organization Development survey (advantage and disadvantage) - Essay Example The questions begin with what, how, when, where and why (Jolley, 2012, p. 26). This is the relatively fast method to collect the data in survey; however, it may take long to prepare and analyze. It needs a lot of time and effort to prepare questionnaires, to analyze the questionnaires, to make the specific questions so that the object is achieved, but then, at the end, it requires minimum time to conduct it. In comparison with other methods, data collection in survey questionnaires is relatively fast. The return rates of questionnaires survey are high. Questionnaires are easy to answer. It takes a minimum of five minutes to fill the whole questionnaire. For this reason, people usually do not argue in filling questionnaires. Other methods such as interviews take a lot of time of the respondents, so people usually argue on it. Survey questionnaires can easily be distributed to a large number of audiences. It enables to gather many different point of views (Zikmund and Babin, 2009, p. 7). The questionnaires cover almost every part of research unlike interviews. Questionnaires are designed in a way so that every aspect is covered. It consists of accurate questions of which it requires accurate answers. It can have many questions to cover every aspect of the respective topic. Many of the positivists â€Å"believe that quantitative data can be used to create new theories and / or test existing hypotheses† (Koneru, 2008, pp. 218–220). The questionnaires enable to gather quantitative data. It allows the respondent to give direct answers, i.e. yes or no, which makes the data accurate. These accurate data lead to the formation of theories or existing hypothesis. One of the main benefits of survey questionnaire is that it does not require a high rate of investment. The cost involved in distributing the questionnaires is negligible as compared with the other methods of data

Christianity and Hinduism Essay Example for Free

Christianity and Hinduism Essay I wanted to compare Hinduism to Christianity. I did not know anyone around here so I contacted a family member that lives in the Philippines. His wife’s family fallows Hinduism. I interviewed them over the Internet through video chat. That was very interesting. I had to have my family member translate to me somethings. But it was fun. I also have them write what they were answering to me. I e-mailed them the questions in advance so it would not be a shocker when I asked. I felt as if I was rude at times asking some of the questions. I kept apologizing and all they kept laughing at me. The interview was with Byra and Hansa Bose. Translation was Sandra and Justin Usry. Hinduism is generally regarded as the worlds oldest organized religion and the worlds third largest religion. Christianity is the largest religion in the world. Hinduism consists of thousands of different religious groups that have evolved in India since 1500 BC. Most forms of Hinduism are henotheistic religions. They recognize a single deity and view other Gods and Goddesses as manifestations or aspects of the supreme God. Hinduism has about nine hundred and fifty million followers that is about fourteen percent of the worlds population. It is the dominant religion in India, Nepal, and among the Tamils in Sri Lanka. Christianity was founded in the early 1st century AD. Christianity has around two billion followers. That is around thirty three percent of the world’s population. Hinduism is a constantly changing religion. It was not founded by a person or prophet. Hinduism is characterized by its beliefs in reincarnation. Hindus believe in one Supreme Being but in many Lords. There are said to be three hundred and thirty-three million Lords. The lords are perceived as divine creations of that one being. Hinduism views compose of three worlds, the physical universe, subtle astral, and the spiritual universe. Christianity was founded by Jesus Christ. To be a Christian you have to believe only in Jesus and acknowledge him as your only savior. The Bible is the main source of the principles and values of Christianity. The Veda is the Hindu holy book. The Veda consist of four books; Rig, Yajur, Sama, and Atharva. The books include over 100,000 verses.  The knowledge imparted by the Vedas ranges from earthy devotion to high philosophy. Christianity is an organized missionary religion. The Christian Church is divided into three major groups, the Roman Catholic Church, the Protestant Churches and the Orthodox Churches. Hinduism does not have a centrally controlling organization it has some ancient scriptures to guide it. That is a joke. Christianity believes that God created the world out of nothing. Hindus say that is not true. Nothing can come out of nothing. That everything has to exist from something. So Hindus think God created the world out of himself using the elements and qualities of his energy. Christians believes that God and men are different. God created man in His own image. The world and men exist separately from God. Hindus believe the whole universe is enveloped and inhabited by God. Hindus believes that the universe was created billions of years ago through a gradual process of materialization brought out by Prakriti and that the earth is just one world in a series of thousands of worlds. Christiani ty believes that the world was created a few thousand years ago over a period of seven days. That the earth is the center of the universe. Hindus do not believe in conversion of people. A person becomes a Hindu either by birth or through conscious that is by choice. Christians accepts conversion as a way of saving them from certain damnations. It is the responsibility and sacred duty of every Christian to save everyone who are not Christians by bringing them to Jesus. Hindus do not believe that you go to heaven or hell like Christianity rather they believe in the concept of Karma. Hinduism men are judged by their own karma. If you do badly in one life you have many more to work the bad karma off. The only way to get out of the cycle of life and death is to achieve true enlightenment. When a person achieves enlightenment he or she doesn’t go to heaven or hell, he or she is beyond heaven or hell. He or she would have become part of the entire universe. When enlightenment is reached they become part of God. Hindus believe that the death of a human being only extinguishes the bodily form of existences as the soul reincarnates in  another life form. They believe that a human being has it within his ability to attain Moksha, the final extrication of the soul, by applying the principles suggested by the scriptures. Christianity believes a person commits sin against God by bracken the ten commandments. If someone leads a life of sin without acknowledging God and without believing in Jesus, he will become a victim of the Devil and fall into temptation. If he is a true believer, God will save him and grant him an eternal life in heaven. It is the conduct of a person on earth that determines the person’s fate. A sinner can seek forgiveness of God and Jesus through repentance and submission and he will be forgiven according to the strength of his belief. On the Judgment Day all souls are resurrected and judged by God according to their actions on earth. Both Hinduism and Christianity believe in the eventual destruction of the world. However Hinduism does not believe in the permanent destruction of the world but in the repetitive nature of creation. There will be repetitive cycles of creation followed by destruction. In Christianity after that happens they reside either in the heaven or in hell eternally. Hindus worship a lot. They commonly worship shrines in three different environments, in temples, in the home, and in outdoor public spaces. Hindus believe that if proper care is not taken of a temples images, the deity will abandon the temple. Hence priests reside at the temple and take care of the gods needs. Priests perform puja at sunrise, noon, sunset, and midnight. For a layperson, however, visiting a temple every day or even regularly is not mandatory, and many devout Hindus worship at home. The essential aspect of puja is not congregational worship but an individuals offering to a deity. Worship in the home usually takes place daily. Christians will worship anywhere. However when they come together to worship they will usually come together in a church. Prayers are usually done before a meal and before bed. It can be done at any time whenever a Christian fills the need to pray. Some holidays that Hindus celebrate are Shivarathri The Night of Shiva† a festival celebrated in honor of Lord Shiva, Holi, Raksha Bandhan which is celebrated on the full moon day of the Hindu month of Sravan (August-September). It is one of the important Hindu festivals. Hindus who  wear a new holy thread offer their respects to the ancient Rishis by offering them water on this day. Telugu New Years is celebrated on the first day of the month of Chaitra (March-April).This is a happy day and is celebrated with great enthusiasm. This is New Years Day for the people of Andhra Pradesh and also the Telugu people all over the world. Navarathri is celebrated twice in a year, once it is celebrated in the month of Chaitra and then again in Aswayuja. It lasts for nine days in honor of the nine forms of goddess Durga. During Navaratri devotees of her observe a fast. Brahmins are given food and prayers are offered as it is believed that this provides protection of health and property. Ganesh Chaturthi is most popular of all Hindu festivals. It is the birthday of Lord Ganesha. It is the most sacred day for Lord Ganesha. It falls on the 4th day of fortnight called Bhadrapada. It is observed throughout India as well as by devoted Hindus in all parts of the world. Krishna Janmashtami is the birthday of Lord Krishna, who is the eighth Divine Incarnation. It is believed that Lord Krishna was born at midnight. Many people go on a twenty-four hour fast on this day, which is broken at midnight. Ramnavmi is the last one. Christianity has a lot of holidays too but the really important ones are Christmas Eve which is the day before Jesus Christ was born. Christmas Day is the day Jesus Christ was born. There is Ash Wednesday which derives its name from the practice of placing ashes on the foreheads of adherents. Doing this is a sign of mourning and repentance to God. When God was walking to be crucified there was a village that laid palm tree leaves down for him to walk on. When he left they burned them and that is where the ashes come from. It also starts Lent. During Lent, many of the faithful commit to fasting or giving up certain types of luxuries as a form of penitence. Good Friday, the passion or and death on the cross of the Lord, Jesus Christ. Easter is the day Jesus resurrected. Now let’s talk about food. Christians have no limitations to what they eat, but the Hindus do. They cannot eat onions or garlic. Onions and garlic cloud the mind with passion. I think that is funny. Also onions and garlic gives the breath an odor which offends Lord Krishna. Mushrooms cannot be eaten because they grow in dung and an unclean ground. Anything from a cow is forbidden. Cows are sacred. They are known as â€Å"the mother†. So they cannot  eat cheese, milk, butter, or any of the cow’s or cow’s meat. They also cannot eat pigs. Pigs are forbidden also. Vegetarianism is very common in the Hindu religion. About thirty percent of Hindus are Vegetarians. In conclusion I had a lot of fun learning about both these religions. I learned that Hindus have a lot of gods and pray a lot. I don’t think I could pray that much. Christianity only has one god that is thought to be three other things. I had a little trouble understanding that one. They both are very complex. They have many other religions that branch from them.

Teaching Education Students Disabilities

Teaching Education Students Disabilities Education Students Disabilities 2.1 The role played by teacher’s attitudes towards education of students with disabilities in the development of inclusive education. It is a well known fact that attitude of teachers affect the atmosphere of learning and influence whether students with limited abilities receive equal educational chances. This can be shown by looking at situations in different parts of the world. In Ghana for instance, the idea of education that is inclusive is aligned with the policy of increasing access, participation and retention of all students of school going age in education. Challenges exist in areas of access, quality education and retention especially for students with disabilities. This is attributed to lack of professional activities of development for teachers, limited resources and ineffective monitoring system provided to schools. Negative attitude and prejudice is the most critical of all barriers to free universal education especially for disabled students. Interestingly, some teachers still name the curses from gods as the cause of disabilities. (Agbenyega 2005) Beliefs about ethnicity, disability, concerns, ethnicity and attitude of teachers influence practice of all inclusive education, educational materials’ quality and instructions received by students. Many regular education teachers feel unprepared and scared to work with disabled learners and display anger, frustration and negative attitude towards education. They also believe it lowers academic standards. (Education Act, 1996) Teachers’ beliefs about inclusion suggest that they do not like teaching disabled students especially those who have sensory impairments as in regular classes. They prefer them being educated in special schools. Their defense is that with usual students too much time is not wasted in support and guidance. They are yet come to terms with the belief that mute and deaf students can receive education in regular schools. Teachers also believe that including disabled results in incompletion of syllabuses as they limit the amount of work that can be done in a term. They further believe that including disabled in regular classes affects the performance of their fellow students without disabilities. On this they claim that there must be consideration on placement of students with disabilities into regular schools as their placement disturbs academic performance and emotions and of other students who are not disabled. (Smith and Luckasson 1995) Teachers overwhelmingly believe that inclusive education is impossible unless their needs for specialist resources are addressed. Overall belief is that without sufficient support and resources, inclusive education is not possible and is doomed. The beliefs, negative attitude and concerns expressed by teachers may be explained due to lack of professional preparedness, available resources, sufficient orientation and specialist assistance. Initial professional knowledge and further training, human and material resources enhance teachers’ attitudes positively and affect their willingness make inclusion work (UNESCO 1994) 2.2 Teachers’ attitudes towards education of students with disabilities. A historical review. Estimates of global populations indicate that more children with disabilities live in developing third world countries than in industrialized countries. It has been suggested that integration in developing countries can be facilitated much more easily and successfully than in North America and Western European countries because there disabled students are already in the mainstream unlike in countries with a dual system of regular and special education. Recognizing that schools in developing countries have untrained teachers, large class sizes, transportation problems, lack of resources and facilities, the policy makers should consider the regular classroom as the mainstream model in facilitating inclusive education in poor countries.(UNESCO 1997, 1999) Educational researchers have historically taken varied positions which are varied regarding integration or inclusion. Those who support the programmatic model point to the academic and social gains of the students with disability as well as acceptance of diversity among fellow students and community members as benefits of inclusion. Opponents note concerns about lack of training, personnel and administrative support and the uncertainty of academic and social gains through adopting such models (Gartner, 1995; Whitaker, 2004). Research that has been carried out in most regions of the world on teachers mirrors the political agenda of these countries in focusing attention on the exclusion of children from educational opportunities (UNESCO 1994). Some countries have enacted legislation pertaining to integration of disabled students while some are just beginning the process of implementing these programs and policies. In overall, research seems to support the notion of a general culture of teaching in that teachers’ attitudes towards students with disabilities are consistent and similar irrespective of the different national cultures in which teaching takes place. A cross cultural study conducted on teachers’ attitudes in Haiti and the USA revealed that teachers had similar attitudes towards inclusion. (Thematic Group 9, 1996). Special Education in the United States has a long history that reflects many changes in attitudes towards disabled people. Special education was a established in the United States in the 1800’s with students who had demonstrated disabilities such as deafness, blindness, crippling conditions as well as idiotic and feeble-mindedness being taught in institutions. Many diverse groups have attributed this change to including parents, psychologists, educators, physicians, clergy, researchers and the disabled. (Smith and Luckkason, 1995) 2.2.1. Shaping the development curve: mainstreaming-integration and inclusion The right of students with disabilities to receive a free and appropriate education in the least restrictive environment is solidly rooted in the provisions of the United States constitution. Particularly, the guarantee of equal protection under the law granted to all citizens P.L.94-142 clearly required states to ensure that children with disabilities be educated with children who were not disabled and that other educational placements be considered only when the nature of the disability was such that education in regular classes with the use of supplementary aids and services could not be achieved satisfactorily. (.http://www.ncd.gov/newsroom/publications/1994/inclusion.htm) Disabled students are being included at every level of the education system as a result of efforts by all of those concerned about them, parents, advocates, teachers and administrators. The effect of inclusive education is being increasingly being evaluated by including children with disabilities in assessments of school performance. (Barlett and McLeod 1998) Much has been learned about the strategies that make inclusion work from the experience of others. School staff that focus on changes in the school as a whole-curricular, instructional strategies, instructional strategies and use of resources have been successful when given time for training, collaborative planning and opportunities to celebrate their achievements. (.http://www.ncd.gov/newsroom/publications/1994/inclusion.htm) Disabled students require extra supports facilitated through personal assistance, class assistive technologies and related services in order to receive an appropriate education. Planning for studies should include the scheduling of supports at appropriate times in order for supports to be able to complement activities in classroom. Students who need assistance later in life benefit greatly from learning management support services early in life. (Marches 1998) The fact that students with disabilities are included in some schools is all the more remarkable given the vast numbers of barriers that exist from the federal government going down. In addition to the barriers faced by most students with disabilities minority students with disabilities face even greater barriers to inclusion. Of all the barriers to inclusion, the single greatest factor seems to be the system of financing special education. (.http://www.ncd.gov/newsroom/publications/1994/inclusion.htm) The basic concept of inclusion and integration states that principles of equity, discrimination, social justice and human rights make it compulsory that students with special needs and disabilities should enjoy the same privileges as all other students in a regular school environment and to a broad, balanced and relevant curriculum (Knight 1999). It is believed that integration in the mainstream enables students with disabilities to benefit from the stimulation of mixing with relatively more able students and having the opportunity to observe higher models of social and academic behavior (Elkins 1998). The move towards integration began tentatively in a few countries as long ago as the late 1960s and early 1970s, but the trend became much more vigorous on an international scale in the 1980s and throughout the 1990s. A major factor influencing the rapid worldwide movement towards inclusion was the promulgation of the Salamanca statement and Framework for Action on Special Needs Education. This statement recommends among others, that all students with special needs should have full access to regular schools and be taught in schools using predominantly adaptable and child centered pedagogy. (UNESCO, 1994) For integration and inclusion to be successful, one clear condition is that teaching methods and curricula will need to change in order to accommodate the diversity of students to be included in the average classroom. The reforms proposed by most education commissions certainly suggest that all students would benefit from more student centered approaches in teaching and much greater flexibility in curriculum planning. This will certainly make it more feasible for students with special needs to receive an education geared to their abilities. (Ainscow, 1997) 2.2.2. Attitudes of regular school teachers’ vis-Ã  -vis of special school teachers. Inclusion of students with disabilities in the regular classroom has been met with a lot of resistance from regular education teachers who would be responsible for educating special needs students. This is because they lack in-service training to increase their skills. In-service presentations are most effective in improving attitudes. Regular classroom teachers are usually stereotypic and negative. (Befring, 1997) Regular school teachers believe that students with disabilities require special needs which cannot be provided in inclusive based regular classroom. They also believe that their professional knowledge and skills are inadequate to effectively teach students with disabilities in regular schools. (Sharma, 1999) Special school teachers usually have a positive attitude towards students with disabilities. This is because they are usually trained before service on how to handle students with disabilities. Their positive attitude about including and teaching students with disabilities in general education classroom is related to the levels of special education training and experience in working with students with disabilities. (Forlin and Hattie, 1996) 2.3 Teachers’ attitudes towards inclusive education of students with disabilities at different school levels. 2.3.1. Pre school teachers’ attitudes and primary teachers’ attitude. Pre School teachers’ have negative attitudes towards children with disabilities. A lot of children who are emotionally disturbed possess deficient long-standing patterns of disruptive and deficient behavior. These children are particularly upsetting to teachers because they challenge the teachers’ role and threaten the order and composure of the classroom. Some of these children exhibit the feelings needed to get what they want that is manipulate others. These children are often able to identify weaknesses in the teacher and exploit them. (Carey, 1997) Majority of primary school teachers both female and male have negative attitudes towards the inclusion of students with abilities in regular classes. Children taught by teachers who show highly positive attitudes have significantly higher levels of classroom satisfaction and marginally lower levels of classroom friction than children taught by teachers with less positive attitudes. Primary school teachers are usually worried about the well being of students with special needs in the general education. It is usually hard for them to ensure that special children do not lose out in both academics and related skills as compared to other children in the class. (Carey, 1997) 2.3.2 Education administrators Demographic factors, training and experience does not have a statistically significant effect on administration attitudes towards inclusion. Administration programs that are good prepare administrators with stronger, more positive attitudes toward including students with disabilities. School counselors can take the lead in assessing school climate in relation to students with disabilities initiating interventions or advocating for change when appropriate. (Wilczenski, 1992) Some school administrators might possess slightly negative attitudes toward students with disabilities. The attitudes of school counselors are similar to if not more positive than those of other school personnel. Principals who have completed more training both (pre-service and in service) related to inclusion and special education have positive attitudes towards students with disabilities. It is claimed that the understanding of administrators on the Americans with Disabilities Act (ADA) is very limited and they have not taken any measure to ensure compliance to it. Negative attitudes have been indicated to be of the more significant barriers to successful integration of students with disabilities. (Wilczenski, 1992) 2.3.3. Secondary schools teachers’ attitudes These teachers have more positive attitudes compared to primary school teachers. Teachers’ expectations and beliefs are easier to change than their behaviors and emotions. High school teachers also have positive attitudes towards the use of the software because the software has the potential to improve student learning, increase student engagement, provide important study skills and improve student motivation through the novelty of using computers is social studies instruction. High school teachers cooperate more with each other when it comes to provision of assistance regarding disabled students. (Schumacher et al, 1997) Some people argue that in primary school inclusion develops well only for serious problems to emerge at the secondary level. These problems could be from the increase in subject specialization which makes it hard for inclusion to sail smoothly. This problem is made worse by the fact that the gap between special students and the rest increase with age. Secondary schools usually use the streaming model where students are grouped depending on their level of grasping knowledge. It is also difficult to make curriculum adaptations for heterogeneous students because secondary education is characterized by an excessively academic curriculum for a homogenous group of students. (Smith, D. Luckasson, R. 1995). 2.4 Influential factors of teachers attitudes 2.4.1 Student related factors One of the most important factors affecting teachers’ attitudes towards integration or inclusion is the type and severity of disabilities. Research revealed that irrespective of teaching experience, severity of disability shows an inverse relationship with positive attitudes such that as the perception of severity increase, teachers positive attitude decrease. (Forlin, et al 1996). A study done in fourteen nations discovered that teachers favor disabilities of certain types to be included in the regular school setting. Teachers are more disposed to accept students with mild disabilities than students with more severe disabilities particularly students with social maladjustments and emotional disturbance, due to a lack of training and support and large class sizes. (Leyser and Tapperndirf, 2001). 2.4.2 Teacher-related factors With regards to gender, reports showed that male teachers’ attitudes towards integration are more negative than female teachers. Other studies that examined teachers experience noted that teachers’ acceptance of integration is related to previous experience with children with disabilities. (Giangreco, 1997) Overall teaches’ contact and interactions with people with disabilities promote positive attitudes towards integration. Teachers’ with a higher education level are also more negative towards integration. The opposite is true in some cases. Teachers’ attitudes also appear to vary based on integration in-service training. The study reported positive teacher attitudes after in service training, while other studies found that staff development failed to improve teachers’ attitudes. (Stoler 1992) 2.4.3 Education environment-related factors a) Administrative and policy factors Factors related to administrative support have been linked to teachers’ commitment to integration. Teachers’ consider the presence of organizational support and resources as critical in forming positive attitudes towards integration. An additional component of positive attitude is related to class size. General educators report that reducing class size to 20 students would facilitate their integration effort (Pollard and Rojewski, 1993) b) Support factors Top-down educational initiatives can be rendered ineffective if the program is interrupted at the principle level or the teacher level. The attitude of special educators is determined by general educators. Furthermore most principals are critical of policy changes and their support of inclusion is viewed by teachers as being motivated by cost savings opportunities. (Whitaker 2004) If a country or state has policy friendly to students with disabilities then teachers are likely to have a positive attitude towards inclusive education. For example, the Zimbabwe education Act 1996, the Disabled Person Act 1996 and various Ministry of Education circulars (Education, Secretary’s Policy Circular No P36, 1990) require that all students, regardless of race, religion, gender, creed and disability, have access to basic or primary education. (Education Act, 1996). c) Other related factors Factors external to the school that affect the working conditions of teachers such as financial rewards, status in society and professional expectations have also been found to influence the teachers’ motivation and dedication. The grade level taught is such an external factor found that high school teachers displayed more positive attitudes towards integration than elementary school. Their results also showed there were more positive attitudes towards integration in high school teachers than in primary school. (Leyser et al 1994) Financial rewards; given that teachers spend up to fifty percent of their time providing instruction to individual students, it is imperative that they receive adequate and appropriate financial and professional development to ensure they are able to work effectively with students with special needs. Reference Agbenyega, J. S., Deppeler, J., Harvey, D. (2005).Attitudes Towards Inclusive Education in Africa Scale (ATIAS): An Instrument to measure teachers attitudes towards inclusive education for students with disabilities. Journal of Research and Development in Education, 5, pp. 1-15. http://www.coe.wayne.edu/wholeschooling/Journal_of_Whole_Schooling/articles/3-1%20Agbenyega.doc. 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