Introduction:

The guidelines of Islam are not only limited to acts of worship (Ibadaat) but they also cover
other aspects of life which include beliefs (Aqai’d), financial dealings (Muamlaat), social
relationships (Muaashrat) and moral character (Ikhlaqiyat). Accordingly, Islam requires
Muslims to adopt its teachings in a holistic manner encompassing both their individual and
communal spheres of life. In this booklet, we will discuss guidelines pertaining to banking and
financial dealings as Islam stresses upon the correctness and sanctity of financial dealings.
Therefore, as Muslims, it is imperative for us to have a basic understanding about this aspect of
our faith.

As Muslims, it is our responsibility that, in addition to practicing other aspects of our faith, we
follow the guidelines of Islam in our financial dealings as well. Negligence in financial dealings
also negatively impacts the acceptance of other acts of worship (Ibadaat). As per a Hadith,
any charity (sadqa) given from impermissible (haram) earnings is not accepted (Sunun Nasai,
Hadith no. 2526). According to another Hadith, supplication (dua) of that person is not accepted
who consumes from impermissible (haram) earnings (Sahih Muslim, Hadith no. 2346). It is evident
from these narrations that earning in a permissible (halal) manner plays a crucial role in the
acceptance of supplications.

The real success of a Muslim is success in the hereafter (Akhirat). In fact, it is the fear of
accountability in the hereafter that distinguishes a Muslim from other human beings. According to
a Hadith, a person would not be allowed to move from his/her position on the Day of Judgment
until he/she has been asked five questions – two of which pertain to earnings and expenditures
i.e. what was the source of earnings and where was it spent? (Sunan Darami, Hadith no. 556).
Therefore, only a cautious approach in earnings and expenditures can save a Muslim from
punishment in the hereafter.
Need for Islamic Banking

A fundamental question now arises about the reason of existence of Islamic banking i.e. when a
banking system already exists then why suggest a new mechanism? We have addressed this earlier
that, while it is a reality that banking has become a fundamental need for the society, its business
structure is based on the concept of borrowing and lending. Conventional banks fulfill the
financial needs of customers by earning and paying additional amounts on loans (qard) which is
tantamount to interest. On the other hand, when we study Islamic teachings we realize that earning
any additional amount on loan (qard) has been clearly prohibited by Allah Subhana wa Ta’ala in
the Holy Quran. This implies that it is not permissible from the Shariah perspective to fulfill the
banking needs by borrowing and lending on interest (riba). This leads to the need for Islamic
banking so that the banking services can be offered on the basis of Shariah principles.
History of Islamic Banking in Pakistan:

Pakistan got independence in 1947 and the Quaid-e-Azam Muhammad Ali Jinnah, in his speech on
the occasion of inauguration of State Bank of Pakistan on 1st July 1948, aspired to build the
economic and financial system of country in line with injunctions of Islam. He said,

“I shall watch with keenness the work of your Research Organization in evolving banking practices
compatible with Islamic ideas of social and economic life…. The adoption of Western economic
theory and practice will not help us in achieving our goal of creating a happy and contented people.
We must work our destiny in our own way and present to the world an economic system based on
true Islamic concept of equality of manhood and social justice. We will thereby be fulfilling our
mission as Muslims and giving to humanity the message of peace which alone can save and secure
the welfare, happiness and prosperity of mankind. ”

Initially, the research on Islamic finance was undertaken by the eminent Shariah scholars both from
abroad and Pakistan. An Islamic Economic Division was created in the Research Department of SBP
in 1950s and was entrusted to undertake research on Islamic economic system and it also as a
secretariat to Council of Islamic Ideology (CII). Efforts for economy wide elimination of Riba
started in late 1970s and several noteworthy and practical steps were taken in 1980s. Numerous laws
were amended and new laws were enacted to facilitate Islamization of economy during this period in
which State Bank played a major role. In a technical sense it was the most advanced model
compared to any other model being practiced anywhere in the world at that time.

However, the financing procedure based on ‘mark-up’ practiced by banks was declared un-Islamic
by the Federal Shariat Court (FSC) in November 1991 but on appeal to the Shariat Appellate Bench
of Supreme Court the 1991 FSC ruling was suspended till orders of the court. The Supreme Court’s
Shariat Appellate Bench delivered its judgment in December 1999 with the directions that laws
involving interest would cease to have effect by June 30, 2001 and later the date was extended to
June 30, 2002. However, on a review petition filed by a bank, Shariat Bench of the Supreme Court
set aside the previous verdicts on Riba in June 2002 and remanded back the case to Federal Shariat
Court for hearing afresh.

In the mean time, the government decided to promote Islamic banking in a gradual manner as a
parallel and compatible system. The initiative to re-introduce Islamic Banking in Pakistan was
launched in early 2000 to shift to interest free economy through a market driven and flexible
approach, in a phased manner without causing any disruptions. Furthermore it aims at building a
broad based financial system in the country to enable all segments of the population to access
financial services. In this context SBP adopted a three pronged strategy for promotion of Islamic
Banking i.e.

• Permission to establish new full fledged Islamic banks in the private sector,

• Permission to the conventional banks to set up Islamic banking subsidiaries, and

• Permission to the existing conventional banks to open Stand-alone Islamic banking branches.

A comprehensive regulatory framework including Shariah Governance framework has been

introduced for the development of Islamic banking industry on sound footings. SBP has also been
collaborating with local and international financial regulators and infrastructure development
institutions to promote standardization and harmonization in regulatory framework in line with
international best practices, to facilitate the development of Islamic financial services industry
locally and globally.

This new initiative has witnessed a very encouraging response. As currently there are 5 full fledged
licensed Islamic banks (IBs) and 17 conventional banks have licenses to operate dedicated Islamic
banking branches (IBBs)/Islamic Banking Windows (IBWs). All of the five big banks in Pakistan
are providing Islamic banking services. The total assets of the Islamic banking industry are over Rs.
1250 billion as of 31 st December, 2014 which accounts for a market share of 10.4% of total banking
industry assets. The market share of deposits stands at 11.6%. Total branch network of the industry
comprises of more than 1500 branches with presence in over 80 cities & towns covering all the four
provinces of the country and AJK.

The industry over the years has managed to offer a wide array of products encompassing almost the
entire range of Islamic modes of financing that are able to cater to the needs of majority of the
sectors of the economy. The growth of Islamic banking industry has been remarkable.
MCB Islamic

MCB Islamic Bank Limited (MCB Islamic) is a wholly-owned subsidiary of MCB Bank
Limited. It offers Shariah-compliant financial services, aiming to be a leading provider in
this sector. The bank's operations, including its branches and ATMs, are supervised by a
Shariah Board. MCB Islamic provides a range of products and services, including
banking accounts, financing, and investment solutions, catering to corporate, commercial,
and consumer needs.

Key Features of MCB Islamic:

 Wholly Owned Subsidiary:

MCB Islamic is a fully owned entity of MCB Bank.

 Shariah Compliance:

The bank operates under the principles of Islamic Shariah, meaning its products and services
are free from interest (riba).

 Strong Network:

MCB Islamic has a branch network across Pakistan, with over 300 branches and 290 ATMs.

 Diverse Services:

The bank provides a range of financial solutions for corporate, commercial, SME, consumer,
agriculture, and micro sectors.

 Shariah Board Supervision:

Operations are overseen by a Shariah Board, ensuring compliance with Islamic principles.

 Demerger from MCB Bank:

The Islamic banking business of MCB Bank was demerged and transferred to MCB Islamic,
making it the first demerger transaction in Pakistan's banking sector.
What is Islamic Banking at MCB?

Islamic banking is defined as a banking system, which is in consonance with the spirit, ethos and
value system of Islam and governed by the principles laid down by the Shari’ah. Interest free
banking is a narrow concept denoting a number of banking instruments or operations which avoid
interest.

Islamic banking, the more general term, is based not only to avoid interest-based transactions
prohibited in Shari’ah but also to avoid unethical and un-social practices. In practical sense, Islamic
Banking is the transformation of conventional money lending into transactions based on tangible
assets and real services.

The model of Islamic banking system leads towards the achievement of a system which helps
achieve economic prosperity.

What is Meant by Riba?

The word “Riba” means excess, increase or addition, which correctly interpreted according to
Shari’ah terminology, implies any excess compensation without due consideration (consideration
does not include time value of money). This definition of Riba is derived from the Quran and is
unanimously accepted by all Islamic scholars.

The Status of Riba has been clarified in the following verses of Quran (Surah Al Baqarah 2:278-9)

“O those who believe; fear Allah and give up what still remains of the Riba if you are believers. But
if you do not do so, then be warned of war from Allah and His Messenger. If you repent even now,
you have the right of the return of your principal; neither will you do wrong nor will you be
wronged.”

What is the philosophy of Islamic banking?

The philosophy of Islamic banking takes the lead from Islamic Shari’ah. According to Islamic
Shari’ah, Islamic banking cannot deal in transactions involving interest/riba (an increase stipulated
or sought over the principal of a loan or debt). Further, they cannot deal in the transactions having
the element of Gharar1 or Maiser2. Moreover, they cannot deal in any transaction, the subject matter
of which is invalid (haram in the eyes of Islam). Islamic banks focus on generating returns through
investment tools which are Shari’ah compliant as well. Islamic Shari’ah links the gain on capital
with its performance.
Operating within the ambit of Shari’ah, the operations of Islamic banking are based on sharing the
risk which may arise through trading and investment activities using contracts of various Islamic
modes of finance. The prohibition of a risk free return and permission of trading, as enshrined in the
Verse 2:275 of the Holy Quran, makes the financial activities asset-backed in an Islamic set-up with
ability to cause ‘value
Difference between Islamic and Conventional Banking:

Following are some of the main differences in Islamic and conventional banking:
Islamic bank Conventional bank

Basis All Islamic banking activities comply Major activities of conventional bank are
with Shariah principles. Shariah non-compliant.

Deposits Islamic banks accept saving deposits on Conventional banks accept saving
Structure the basis of Mudarabah (profit and loss deposits on loan (qard) basis which
sharing basis). results in interest (riba).

Customer Islamic banks do not deal with Conventional banks can deal with such
customers whose core business activity is customers whose core business activity
completely Shariah non-compliant. is completely Shariah non-compliant.
Modes of Islamic banks provide financing Conventional banks extend financing
Financing facilities on the basis of Shariah facilities through interest (riba) based
compliant contracts such as Shirkat loans which is prohibited in Shariah.
(Partnership), Sale/Purchase, Ijarah
(Rent), etc.
Shariah All financial dealings of an Islamic In the absence of a Shariah Governance
Governance bank are governed through a System, there is no mechanism of a
System comprehensive ‘Shariah Governance Shariah based supervision of the financial
System’. dealings of a conventional bank.
COMPARISON OF ISLAMIC BANKING PRODUCTS WITH CONVENTIONAL BANKING
PRODUCTS

Liability Products

 MCB Islamic Current Accounts

Conventional Bank Current Accounts MCB Islamic Current Accounts (Qard)
(Loan)
In Conventional banking, customer’s deposited No profit is paid on these accounts. The account
funds under current account are based on loan in is based on the concept of “Qard” where the
which the customer is the lender and the Bank is Customer is “lender” and the Bank is
the borrower. Although in normal the Bank does “borrower”. The amount deposited by Customer
not provide any interest / markup to depositors in this account shall remain payable by the Bank
for their funds, the Bank uses these funds in to the customer on demand. Bank may at its
interest based money lending to generate its discretion uses such funds as it deems fit in
non-Shari’ah compliant earnings. approved Shari’ah Compliant products / avenues
to earn Shari’ah compliant non-interest
based earnings / profits.

 MCB Islamic Saving and Term Deposits Accounts

Conventional Bank Saving & Fixed Deposit MCB Islamic Saving & Term Deposit Accounts
Accounts (Interest Bearing) (Mudarabah)
In Conventional banking, customer’s deposited Savings and Fixed / Term deposit accounts are
funds under Savings and Fixed / Term deposit profit bearing accounts based on the principles
accounts are also based on loan in which the of Mudarabah, where Customer is “Rabb-ul-
customer is the lender and the Bank is the Maal” (Capital Provider) and Bank is
borrower. The Bank pays interest / markup to “Mudarib” (Fund Manager). The Bank may, at
depositors for their funds, which the Bank uses its discretion, use or employ such funds as it
for further interest based money lending to deems fit in avenues approved by Shari’ah
generate its non-Shari’ah compliant earnings. Board of the Bank. The Bank shall share the
profit on the basis of predetermined profit
sharing ratio agreed with the customers. Return
on deposits will be based on predetermined
weightages for each month (or any agreed
interval) that are announced as per SBP’s
instructions. The principal amount of depositors
under these accounts is not protected /
guaranteed. In the event of any loss, all such
depositors / investors shall bear such loss
proportionate to their respective investments,
while the Bank (being
the Mudarib) suffers the loss of its efforts.
Micro-Finance Product

 Sharai Karobar
Conventional Bank MCB Islamic (Murabaha)
Underlying contract is of Loan whereby bank Underlying Contract is of Sale whereby Bank
lends money to the customer who in turn pays sells goods/assets to the customer on Murabaha
interest / markup to the Bank basis (i.e. cost and profit disclosed to the
customer)
Bank’s income is based on interest on the loan Income is based on profit earned on the sale of
goods/assets, i.e. trade activity
Penalty is charged in case of late payment which Customer undertakes to pay Charity in case of
becomes part of Bank’s income late payment. Charity does not become part of
the Bank’s income and it is totally used in
Charitable purpose through Charitable/welfare
organizations
Consumer Financing Products

 Rihayesh Finance
Conventional Bank MCB Islamic (Diminishing Musharakah)
Nature of the contract is of loan and transaction Nature of the contract is co-ownership of the
is based on interest / markup lending by the Bank and the Customer of the underlying
Bank to the customer property i.e. (Shirkat-ul-Milk/Joint Ownership).
Transaction is based on gradual transfer of
ownership to the customer.
Installments are payable after disbursement of Rentals only start once usufruct of the asset is
loan irrespective of whether the usufruct of the available to the customer.
financed asset is available to the customer.
Conventional Bank does not distinguish All ownership related risks & rewards and
between ownership and usage related risks and liabilities are borne by the joint owners (i.e.
rewards and places all liabilities on the user of Customer and the Bank) as per the prevailing
the financed asset ratio of their ownership in the underlying asset
Penalty is charged in case of late payment which Customer undertakes to pay Charity in case of
becomes part of the income of the Bank. late payment. Charity does not become part of
the income of the Bank and it is totally used in
Charitable purpose through Charitable/welfare
organizations.
Asset is usually covered under non-Shari’ah Asset is covered under Shari’ah compliant
compliant conventional insurance. alternative to insurance, i.e. Takaful.
MICAR
Conventional Bank MCB Islamic (Diminishing Musharakah / Ijarah)
Nature of the contract is of loan and Bank owns the underlying asset / its share in the
transaction is based on interest / markup underlying asset on the basis of Ijarah or
lending by the Bank to the customer. Diminishing Musharakah respectively whereby
Bank rents the
underlying asset / its share in the underlying asset to
the customer.
Installments are payable after disbursement Rentals only start once usufruct of the asset is
of loan irrespective of whether the usufruct available to the customer
of the asset is available to the customer
Conventional Bank does not distinguish All ownership related risk & rewards and liabilities
between ownership and usage related risks are borne totally by the owner in Ijarah and joint
and rewards and places all liabilities on the owners (i.e. Customer and the Bank) in case of
user of the financed asset. Diminishing Musharkah) as per the prevailing ratio
of their ownership in the underlying asset. .
In case of total loss/ theft, Bank continues to Installments are not deducted in case of total
charge lease installments until insurance loss/theft.
claim is received from the insurance
company.
Penalty is charged in case of late payment Customer undertakes to pay Charity in case of late
which becomes part of the income of the payment. Charity doesn’t become part of the income
Bank. of the Bank and it is totally used in Charitable
purpose through Charitable/welfare organizations.
Asset is usually covered under non-Shari’ah Asset is covered under Shari’ah compliant
compliant conventional insurance. alternative to insurance, i.e. Takaful.
CORPORATE / COMMERCIAL / SME Products

 Working Capital Finance

Murabaha Financnig
Distinguishing Factor Murabaha Conventional loan
A sale contract whereby bank A loan contract, whereby Bank
Contract
sells asset (goods / lends money to customer.
commodities) to customer.
The relationship between bank The relationship between bank
Relationship
and customer is that of seller and customer is that of lender
and buyer. and borrower.
Income on Murabaha is the Income is based on Mark-up on
Income
outcome of sale i.e. Profit. loan.
In case of delayed payment, the Mark-up continues to accrue as
customer undertakes to pay a part of the bank’s income till
Charity which doesn’t become the loan is repaid
part of the income of the Bank
Delayed Payment
and it is totally used in
Charitable purpose through
Charitable/welfare
organizations
Musawamah Financing
Distinguishing Factor Musawamah Conventional Loan
A sale contract whereby bank A loan contract, whereby bank
Contract
buys goods from customer lends money to customer
The relationship between bank The relationship between bank
and customer is that of buyer and customer is that of lender and
Relationship
and seller. Subsequently borrower
principal and agent
Income on Musawamah is the Income is based on Mark-up on
Income
outcome of sale i.e. Profit loan
In case of delayed payment, the Mark-up continues to accrue as
customer undertakes to pay a part of the bank’s income till
Charity which doesn’t become the loan is repaid.
part of the income of the Bank
Delayed Payment
and it is totally used in
Charitable purpose through
Charitable/welfare
organizations
Istisna Financing
Distinguishing Factor Istisna Conventional Loan
A sale contract whereby bank A loan contract, whereby bank
Contract
purchase the asset needs to be lends money to customer.
manufactured by the customer.
The relationship between bank The relationship between bank
Relationship
and customer is that of buyer and customer is that of lender
and seller. and borrower.
Financing is created by paying Financing is created by granting
Financing
the Istisna Price to customer. loan.
Income on Istisna is the Income is based on Mark-up on
Income
outcome of sale i.e. profit. loan.
Customer is liable to deliver the Customer is liable to repay the
Customer’s Liability
asset at agreed future date. loan at future date.

Commodity Salam Financing

Distinguishing Factor Salam Conventional Commodity finance
A sale contract whereby bank A loan contract, whereby bank
purchase the asset needs to be lends money to customer.
Contract
produce/ cultivated by the
customer for e.g. Agricultural crops.
The relationship between bank and The relationship between bank and
Relationship
customer is that of buyer and seller. customer is that of lender and
borrower.
Financing is created by paying the Financing is created by granting
Financing
Salam Contract Price to customer. loan.
Income on Salam is the outcome of Income is based on Mark-up on
Income
sale i.e. Profit. loan.
Customer is liable to deliver the Customer is liable to repay the loan
Customer’s Liability
asset at agreed future date. at future date.
Musharakah Running Finance
Distinguishing Factor Musharakah Running Finance Running Finance
It is a partnership contract. Running Finance is a
Running Musharakah is based revolving finance .Once
on the Islamic principle of the finance limit is approved,
Shirkat-ul-Aqd, Bank will invest then the borrower is free to
in the core business/primary withdraw amounts to the extent
Contract
operating activities of the of that limit. The borrower can
customer. withdraw and repay the amount
as many times as he wishes but
he has to pay mark-up on the
amount which he has actually
used on monthly basis.
Income is earned when Income is generated by charging
Bank participates in the mark-up on loan.
operating activities of the
customer and shares profit and
loss whereas profit is shared as
per agreed Profit sharing ratio
Income
and Loss is shared as per
Musharakah Investment. Final
settlement of profit will be
related to the actual performance
of the business of
the respective MRF period.
In case of loss in Musharakah, There is no loss distribution in
the loss will be shared between conventional running finance
Loss
the Bank and the Customer as product.
per their ratios of investment.
Bank and the Customer will No Profit Tiers in
have two Profit Sharing Ratios Running Finance.
Profit Tiers
(PSR): Tier 1 Profit Sharing
Ratio (PSR) and Tier 2 Profit
Sharing Ratio
 (PSR).

 Long Term Finance

Diminishing Musharakah
Distinguishing Factor Diminishing Musharakah Conventional Loan
It is a Shirkat-ul-Milk/Joint It is a loan contract.
Contract
Ownership contract.
Rental commenced after the Installment/Interest starts
Commencement
delivery of asset. before the delivery of asset.
 Asset is jointly owned and the Asset is owned by the customer
Ownership & Risk
risk is shared in proportion of and all risks are borne by him.
ownership.
Customer pays charity in case of In case of delayed payment a
delayed payment of rental which penalty is charged and taken to
doesn’t become part of the income.
income of the Bank and it is
Delayed Payment
totally used in Charitable
purpose through
Charitable/welfare
organizations
Income is generated by renting Income is generated by charging
Income
out the bank’s ownership. mark-up on loan.
Customer pays the rental, and Customer pays the installment
Repayment
purchases the units. comprising of mark-up and
principal repayment.
In case of loss in Musharakah, Total Loss will be borne by
the loss will be shared between customer.
Loss
the Bank and the Customer as
per their ratios of investment.
Ijarah
Distinguishing Factor Ijarah Conventional leasing
The leased asset is owned by the The leased asset is not owned by
Ownership of Leased asset
leasing bank. the leasing bank.
No rent (ujrah) can be charged
Rent is charged and billed prior
Rent payment
and billed prior to delivery of the
to delivery of the leased asset.
leased asset.
Ijarah is a binding contract and
The agreement gives the leasing
hence neither party can
bank a unilateral right to
Termination
terminate it without mutual
terminate it at its own discretion.
consent unless the contract is
breached by either party.
Charity on late rental payment is
considered permissible as per
Shari’ah principles. This Charity
doesn’t become part of the
Penalty on late payment is
Charity on Late rental payment
income of the Bank and it is
charged.
totally used in Charitable
purpose through
Charitable/welfare
organizations.
 CONCLUSION AND SUGGESTION

CONCLUSION:

I spent six weeks of my internship in MBL main sadder Hyderabad Branch. During these six
weeks, I felt myself to be a part of bank. Even, this was my first experience of working in a bank,
but I learned a lot from this experience. Based on my experience & observation regarding the
operations and policies of Meezan Bank, I have tried to show some problems and
recommendations for further improvement.

1. The employee turnover is very high which they have to cut down as they are losing a
number of good trained employees due to its poor policy.
2. The year 2010 is expected to offer increased competition in the secured assets business as
more Islamic banks are in the market.
3. Lack of awareness of Islamic banking in general public.
4. The employees usually face work over loaded problems.
5. Lack of job training program for employees.
6. Branches increases but business of Meezan bank may not increase with same speed.
7. Financial information of Meezan bank are not clearly disclose on any media.
8. Work activities among employees were not distributed equally. Some of the employees
are overburdened while some sections are overstaffed.
9. Lack of job rotation that is one of the ways to increase employee job skills.
10. Meezan bank does not provide job security to the employees. Mostly are hired on
contractual basis
11. Congested waiting room for customers.
12. Lack of market (competitors) research.
13. Lack of team work.
14. Lack of new and attractive schemes.
 15. Non effective marketing strategy.

SUGGESTIONS:

1. First of all, I would I like to suggest that the bank must pursue a very aggressive
marketing and advertising strategy so that it can create awareness in the general public
about its Islamic products and services
2. Secondly, there is a need for creating satisfaction among employees. They do not feel any
attachment to the organization. There is a requirement for building up their loyalties so
that the bank can curtail the dissatisfaction and turnover among employees.
3. The personnel in the bank should not be overstressed with workload. The workload is of
a destructive level. At that level of load the employees loose all the comfort in their work
and remain tense and frustrated.
4. Job training is a very important aspect that MBL is lacking in. New employees are
recruited directly without any prior training or orientation. The result is that they do not
understand the organizational structure and culture and become frustrated in their start.
This reduces their productivity and efficiency. If such a training programmed is started,
then the new employees would feel more comfortable and adapt easily to the
environment.
5. Meezan Bank Limited should continue to expand its business, by increasing its deposit
portfolio through aggressive market penetration strategies.
6. Meezan Bank Limited needs to improve its website. More information relating to
financial performance of the bank should be available on the website.
7. Management should distribute work equally among different employees.
8. Related jobs should be assigned to the employees so that they can work more efficiently.
9. It is suggested that the employees signed jobs for specific period and than they should
shifted to other department so that they gain knowledge of other jobs.
10. Increase the Size of waiting room.

11. RIBA FREE COMMERCIAL BANKING to be set up in all countries of the world/
Muslims & non-Muslims. This will greatly facilitate international export import trade
without the fear of being involved in any riba dealing.
12. More people must be employed on permanent basis/ providing job security and
satisfaction.
13. MBL should become very specific about its competitors, so that it can understand
whose its competitor is in the first degree and who is in the second degree A research
cell should continuously try to gather information about the present action so its
competitors and expected future actions. So in this way more effective strategies can be
formulated.
14. The worker should be given sense of teamwork and the managers should be trained to
manage the team as a good leader
15. New schemes should be introduced and maximum privileges should be given to
customer, so that to win money market.
16. New marketing strategies should be developed to attract new customers.