They Poured Fire on Us from the Sky Essay - 2394 Words

About the Book Benjamin, Alepho, and Benson were raised among the Dinka tribe of Sudan. Theirs was an insulated, close-knit world of grass-roofed cottages, cattle herders, and tribal councils. The lions and pythons that prowled beyond the village fences were the greatest threat they knew. All that changed the night the government-armed Murahiliin began attacking their villages. Amid the chaos, screams, conflagration, and gunfire, five-year-old Benson and seven-year-old Benjamin fled into the dark night. Two years later, Alepho, age seven, was forced to do the same. Between 1987 and 1989, thousands of other young Sudanese boys did likewise, joining this stream of child refugees that became known as the Lost Boys. Their journey would†¦show more content†¦What does he learn from the tribe elders? For much of his journey, Benson wears red shorts. Where did he get these? They are almost ruined one night. What happens to them? Why does he treasure these shorts so much? Along their journey, Benson, Benjamin, and Alepho meet many kind family and friends. Who is Monyde? Who is Yier? Why are they important in this story? Despite their clear desperation and young age, time and again the boys find villages turning them away, denying them food, and directing them back into enemy hands. Why do the villages do this? Yier recalls the government storming Wau Wau University. â€Å"We were led to the dorms and questioned: Do you know the leader of the rebels, ______?† What was the name of this leader? As the refugee camp takes shape at Panyido, the UN begins sending food relief. What do they send? How does this diet differ from the usual Dinka diet? What are some of its mis-intended consequences? (see p. 92) Benson writes â€Å"I have many bad memories that I will never erase from my brain† but of these, the flight from Panyido stands out. Why were the Sudanese forced to leave Panyido (Ethiopia)? The refugees had only one means back into Sudan. What was it? What were the perils of this flight? Who was Mr. Hyena? Why did the refugees call him that? Name two positive aspects of Kakuma life for the Lost Boys. Name two negative aspects of it. At Kakuma, refugees receive food in the form of grainShow MoreRelatedEssay about They Poured Fire on Us from the Sky by Alephonsion Den1523 Words   |  7 Pageswere, are driven away from their own home with violence. This caused a significant change in how they viewed the world.â€Å"I couldnt understand why people were killing us. Did Alchol deserve to die? What wrong had we done to these people? Oh, Ma, why the killing?† The three boys also act so different compared to how we do, when around their own home they are expected to never cry, even this is put to the limits during some everyday tasks. One thing that is way different from the way we live is thatRead MoreInnocence and Experience1681 Words   |  7 Pagesabout the world around us, we were all innocent to life and what it had to bring. 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Controversies with the Walt Dinsey Company - 1471 Words

When someone is asked what their favorite childhood movie is, their mind most likely automatically thinks of one word- Disney. Once they think of that there is an array of movies to choose from. The Walt Disney Company has been making its place in this world for almost one hundred years. Over the decades Disney has become a household name whether it be through their blockbuster movies, television channel, books, products, resorts, cruise line or their world famous theme parks. The Walt Disney Company has spread its ideas and products of imagination throughout the globe. However, some may consider this to be negative when considering its past and recent controversies. Disney has hurt its reputation because of cases of poor environmental management, human rights violations, and its ethnic and racial stereotyping. To understand how globally profound The Walt Disney Company is, you must see the history behind the multi-billion dollar business. Like most businesses it started out as a sm all company when brothers Walt Disney and Roy O. Disney created â€Å"The Disney Brothers Cartoon Studio† on October 6, 1923. The following January the first Mickey Mouse cartoon strip was formed which would later on be one of its most famous trademarks. In October of 1949, Disney Music was created and six years later on July 17th of 1955, the first Disney Park, Disneyland in Anaheim California, opened its doors. Following this, television show Mickey Mouse Club, and Mary Poppins premiered.

Mcb Internship Report Free Essays

[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. We will write a custom essay sample on Mcb Internship Report or any similar topic only for you Order Now 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% National Gr oup, 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 negotiab le 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 How to cite Mcb Internship Report, Papers

The Mill on The Floss Summary Essay Example For Students

The Mill on The Floss Summary Essay The Mill on the Floss: SummaryThe Mill on the Floss is a book written by George Eliot, whose real nameis Mary Anne (later Marian) Evans. There is a great deal of autobiography inthis book. The facts of Mary Annes life do not match Maggie Tulliver, butthere is an obvious reflection of her own life. Book One: Chapter1-13The novel opens up with a description of the countryside around the townof St. Oggs and the river Floss. In the second chapter Maggie, Mr. Tulliver,Mrs. Tulliver, and Mr. Riley are introduced. Mr. Tulliver states his intentionto send Tom to a different school. In the third chapter Mr. Riley gives hisadvice about a school for Tom. In the forth chapter Mr. Tulliver goes after Tom,while Mr. Tulliver is gone you learn about that Maggies mother is concernedmainly with what her family thinks. In the fifth chapter Tom is home and youlearn that he cares for his sister Maggie deeply, and that Toms opinion is veryimportant to Maggie. In the sixth chapter the Tullivers are getting ready forthe aunts and uncles to arrive. In the seventh chapter the family arrives andyou are introduced to Mrs. Glegg, Mrs. Pullet, Mrs. Deane and Maggies cousinLucy. Mr. Tulliver states his intention to send Tom to school and it is metwith opposition. In the eighth chapter he goes to his brother -in-laws house todemand the money that he owes him so that he can pay his wifes sister Mrs. Glegg. In chapter nine you read about the Tullivers going to visit the Pullets. In the tenth chapter Maggie pushed Lucy in the mud because she is receivingmost of Toms attention. When Tom goes to tell on her she runs off and cant befound. In the eleventh chapter Maggie decides to run away to the gypsies, butafter learning how poor they were and how little of food they had she decides togo back home. In the twelfth chapter you read that St. Ogg is named for itspatron saint who showed pity on a woman and child. St. Ogg is the town wherethe Gleggs live. In the thirteenth chapter Mr. Tulliver borrows money from aclient of his old enemy Wakem. Book One: Chapter 1-7In the first chapter of this book Tom is at school, and he is Stellingsonly student. Maggie goes to visit him in October. In the second chapter Tomgets to come home for Christmas. Mr. Tulliver has a lawsuit against Mr. Pivart ,his next door neighbor. It has also become known that Wakems son will be sentto school with Tom. In the third chapter Tom is back at school and meetsPhillip Wakem. Philip Wakem is a small, deformed youth with a hump on his back,but is an exceptional artist and story teller. In the forth chapter read thatTom feels that Philip is an enemy. Tom and Philip get in an argument that leftPhillip crying bitterly. Tom bribes Mr. Poulter to let him borrow his sword andkeep it under his bed. In the fifth chapter Tom tries to make up the quarrelwith Philip, but Wakem does not respond. Tom tries to impress Maggie and dropsthe sword on his foot.Also Maggie becomes very fond of Philip Wakem. In thesixth chapter Philip sends all his extra time with Tom and Maggie. Maggiekisses Philip in the library and promises to do so again next time she sees him. In the seventh chapter Tom goes on at Kings Lorton until his fifth half year,and Maggie is sent to boarding school with Lucy. Also Mr. Tulliver loses hislawsuit against Mr. Pivart. Book Three: Chapters 1-9In the first chapter Mr. Tullver falls off of his horse and is foundinsensible by the roadside. Tom ventures that Wakem is responsible and vows tomake him feel for it. In the second chapter Mr. Tulliver is found cryingover the things that she has to sell to pay the mortgage. Maggie reproaches hermother for caring more about her possessions than Mr. Tulliver. In the thirdchapter the aunts and uncles gather for consultation. They help by buying someof Mrs. Tullivers good things. In the forth chapter Mr. Tulliver wakes up for awhile and becomes excited, but soon falls back to bed. In the sixth chapter Tomgoes to see his uncle Deane about a job. Mr. Deane gives him a job for nobetter reason than he is his nephew.. In the sixth chapter the sale of Mrs. Atomic bomb impact in wwII EssayPhilip recognizes that Maggie and Stephen are in love but he will not allowhimself to believe it. In chapter eight Philip tells his father that he wantsto marry Maggie. At first Wakem disapproves but then says that he can if shewill have him. In the ninth chapter Maggie helps Lucy in a booth selling large,plain articles. Mr. Wakem comes and speaks to Maggie amiably. Maggie goes toaunt Mosss house and has told Lucy that she will speak to Tom about marryingPhilip, but she is still in love with Stephen. In chapter ten Stephen kissesMaggie and she sends him away. She tells Philip she is leaving and will speakto her brother. In the eleventh chapter Maggie has stayed with her aunt fourdays before Stephen comes to see her. Stephen asks her hand in marriage and sherefuses, they exchange one kiss before he goes. In the twelfth chapter Tomrefuses to give his blessing for Maggie and Philip to get married. In thethirteenth chapter Maggie tries to avoid Stephen b ut finds it impossible. Sheends up going rowing with him. Stephen asks Maggie once again to marry him andshe refuses. They rowed out way to far and ended up getting on a boat comingtoward them. In the fourteenth chapter Maggie departs from Stephen telling himthey can never get married. Book Seven: Chapters 1-5In the first chapter Maggie returns home to Tom, but Tom hearing of heron the river with Stephen, and not being married, turned her out. Bob Jakintook her and her mother in. In the second chapter it becomes known that Maggiehas returned unwed and she is cast out of society. Dr. Kenn tries finds her aposition at the church. In the third chapter aunt Pullet offers to take Maggiein but she declines. There is also word that Lucy is no longer ill. Maggiereceives a letter from Philip and it makes her sure that no happiness in lovecould make her forget the pain of others. In the forth chapter Dr. Kenn, unableto find her a position, employs her himself as a governess to his children. Lucy comes and visits Maggie and tells her that she is not angry with her andthat Maggie is better than she. In the fifth chapter Dr. Kenn has to let Maggiebecause of rumors that he intends to marry her. Maggie receives another letterfrom Stephen asking her to come to him, but she resolves not to go. She iswondering how long it is until death. At that moment she feels water about herknees, knowing at once it is the flood. Maggie is swept away in one of theboats while trying to help Bob ready the boats. She paddles to reach the mill. Tom climbs out into the boat. They set off to find Lucy. Huge fragments arefloating and people in a boat shout a warning , but Tom and Maggie are bornedown by the drifting masses. They disappear under the current in an embracenever to be parted. Words/ Pages : 1,982 / 24

Reflexology Essays - Manual Therapy, Pseudoscience, Reflexology

Reflexology The origins of Reflexology evidently reach back to ancient Egypt as evidenced by inscriptions found in the physician's tomb at Saqqara in Egypt. The translation of the hieroglyphics are as follows: Don't hurt me. The practitioner's reply:- I shall act so you praise me. We cannot determine the exact relationship between the ancient art as practiced by the early Egyptians and Reflexology as we know it today. Different forms of working the feet to effect health have been used all over the ancient world. Dr. Riley maintained that this form of healing spread from Egypt via the Roman Empire. The Zone Theory was the precursor to modern Reflexology which began with Dr. William H. Fitzgerald, M.D. whom Dr. Edwin Bowers, M.D., encouraged to publish the many articles he had written on the subject of Zone Analgesia. In the forward to their combined book, Relieving Pain At Home published in, 1917, he wrote, Humanity is awakening to the fact that sickness, in a large percentage of cases, is an error - of body and mind. How true this has proved to be. Dr. Fitzgerald, was an Ear, Nose and Throat specialist working at the Boston City Hospital, as well as at St Francis Hospital in Connecticut. He called his work Zone Analgesia where pressure was applied to the corresponding bony eminence or to the zones corresponding to the location of the injury. He also used pressure points on the tongue, palate and the back of the pharynx wall in order to achieve the desired result of pain relief or analgesia. He made use of the following tools: elastic bands, clothes pegs and aluminum combs, on the hands, surgical clamps for the tongue, nasal probes and a regular palpebral retractor for the pharynx, He was responsible for formulating the first chart on the longitudinal zones of the body. Dr. Fitzgerald discovered a very interesting fact, that the application of pressure on the zones not only relieved pain but in the majority of cases also relieved the underlying cause as well. The same result is experienced through Reflexology today, which is based partially on the Zone Theory. Dr. Shelby Riley, M.D. worked closely with Dr. Fitzgerald and developed the Zone Theory further. It seems that he added horizontal zones across the hands and feet, together with the longitudinal zones and thus determining individual reflexes according to the Zone Theory. He, like Fitzgerald, espoused continual pressure on the reflex or point of contact. Eunice D. Ingham, a Physical Therapist, worked closely with Dr. Riley and was fascinated by the concept of Zone Therapy and started developing her foot reflex theory in the early 1930's. She had the opportunity to treat hundreds of patients where each reflex point of contact had been carefully and thoughtfully checked and rechecked until with all confidence she was able to determine that the reflexes on the feet were an exact mirror image of the organs of the body. Dr. Riley encouraged her to write her first book entitled Stories The Feet Can Tell where she documented her cases and carefully mapped out the reflexes on the feet as we know them today. This book was published in 1938 and was later translated into seven foreign languages which spread the benefits of Reflexology way beyond the borders of the States. The confusion between Reflexology and Zone Therapy started at this point because the foreign publisher changed the name of Eunice's book, The Stories The Feet Can Tell to Zone Therapy and in some parts of the world it is still thought of as Zone Therapy. However, there is a distinct difference between the two therapies. Zone Therapy relies solely on the zones to determine the area to be worked, whereas Reflexology takes the zones as well as the anatomical model to determine the area or areas to be worked. After the publication of her book Eunice Ingham found herself on the program at many health seminars. She traveled around the country giving book reviews. Only sick and dilapidated people attended these book reviews/ seminars where she would teach people by working on them and discuss their particular health problems. As these sick people, whom everyone else had given up on, got better the word

Free Essays on Ancient Rome, Compared With Early Modern Europe

Ancient Rome, Compared With Early Modern Europe Throughout history, we have seen the rise and fall of incredible civilizations, societies and ideas. As the Romans prevailed over Europe for one thousand years (from roughly 500 BC to 500 AD), the early modern Europeans from about the 1400's to the 1800's put forward some ideas which were key in the development of our modern world. Had Europe progressed considerably one thousand years after the fall of the Roman Empire? This essay will examine this debated issue by establishing and comparing daily life in both societies. Due to the fact that marriage was an important political aspect in ancient Rome and that no religious beliefs prevented divorce, it was common for the marriage of aristocrats to be dissolved. Couples could separate for personal or political reasons. Augustus demanded that Tiberius divorce his wife and marry his widowed daughter Julia instead. "Among lower class people who had no political affiliation, the divorce rate was probably lower."1 Romans seemed to view marriage as more of an arrangement then a romantic fulfilment. Women were encouraged to stay married since strict laws would award the custody of the children to the husbands in case of divorce. Augustus was bothered by the marriage patterns of the aristocrats due to its effect on the birthrate and the image of Rome. Augustus therefore passed a series of laws which made divorce, adultery and bachelorhood extremely distasteful. These laws brought unhappiness to his own family when his daughter and granddaughter committed adul tery. Roman families were generally small. The aristocrats worried about the chance for their offspring to hold public office and the inheritance which they would receive. Even lower income families seemed to have few children. Low fertility, high infant mortality, 1. RichardGreaves et al. Civilizations of the West. (N.Y.:Addison-Wesley, 1997) p. 160. the exposure of unwan... Free Essays on Ancient Rome, Compared With Early Modern Europe Free Essays on Ancient Rome, Compared With Early Modern Europe Ancient Rome, Compared With Early Modern Europe Throughout history, we have seen the rise and fall of incredible civilizations, societies and ideas. As the Romans prevailed over Europe for one thousand years (from roughly 500 BC to 500 AD), the early modern Europeans from about the 1400's to the 1800's put forward some ideas which were key in the development of our modern world. Had Europe progressed considerably one thousand years after the fall of the Roman Empire? This essay will examine this debated issue by establishing and comparing daily life in both societies. Due to the fact that marriage was an important political aspect in ancient Rome and that no religious beliefs prevented divorce, it was common for the marriage of aristocrats to be dissolved. Couples could separate for personal or political reasons. Augustus demanded that Tiberius divorce his wife and marry his widowed daughter Julia instead. "Among lower class people who had no political affiliation, the divorce rate was probably lower."1 Romans seemed to view marriage as more of an arrangement then a romantic fulfilment. Women were encouraged to stay married since strict laws would award the custody of the children to the husbands in case of divorce. Augustus was bothered by the marriage patterns of the aristocrats due to its effect on the birthrate and the image of Rome. Augustus therefore passed a series of laws which made divorce, adultery and bachelorhood extremely distasteful. These laws brought unhappiness to his own family when his daughter and granddaughter committed adul tery. Roman families were generally small. The aristocrats worried about the chance for their offspring to hold public office and the inheritance which they would receive. Even lower income families seemed to have few children. Low fertility, high infant mortality, 1. RichardGreaves et al. Civilizations of the West. (N.Y.:Addison-Wesley, 1997) p. 160. the exposure of unwan...

Prescription Health Care Costs and its Effects on the Elderly Essay

Prescription Health Care Costs and its Effects on the Elderly - Essay Example ribed in case of the elderly and the price are these drugs are more compared to the older drugs thus adding additional burden on the elderly (Berndt et al, 1998). However, those who rely on a fixed income are vulnerable towards price inflation of prescription drugs due to which they either skip doses or at times even forgo the prescriptions which can have an adverse affect o their health (Berndt et al, 1998; Safran et al, 2005). According to a national survey report on prescription drug adherence by the elderly more than one-quarter of elderly did not adhere to the prescription due to the associated high costs. The non adherence was more prominent among those without drug coverage, low-income groups and those with complex chronic illnesses (Safran et al, 2005). The introduction of public health insurance programs such as Medicare and Medicaid and private-employer insurance programs has not seen a significant reduction in prescription drug adherence by the elderly. These programs cove r only partial medical services for the elderly and do not cover the costs of outpatient prescription drugs (Safran et al, 2005; U. S. Healthcare, 2010; The cost of Prescription Drugs, 2001; Shang & Goldman, 2007). This coupled with the rising inflation and global economic recession in the recent years has only laid excess strain on healthcare expenditure due to which the costs have outweighed the benefits (U. S. Healthcare, 2010). The increase in the costs of prescription drugs has been mainly associated with the emergence of expensive state-of-the-art technology in drug production and for the development of such high-end drugs the costs will have to be shared with the consumer. Factors such as larger prevalence of chronic and long-term illness coupled with longer life spans have increased the demand for such drugs. Additionally population ageing and administrative costs also add up to the health care costs (U. S. Healthcare, 2010). Public health insurance programs such as Medicare

Department of state Essay Example | Topics and Well Written Essays - 500 words

Department of state - Essay Example The first display that I would like to take the time to speak about concerned the efforts of the Peace Corp as a function of the work they have accomplished in different parts of Southeast Asia. The exhibit showed the harsh conditions coupled with the difficult work that the Peace Corps volunteers have performed as a means of providing fresh drinking water and means of sanitation to some of the more remote districts in places such as Burma and Bangladesh. The exhibit was eye opening because although it is common to hear about the Peace Corps working to better the lives of people in remote corners of the world, it is rare to actually see or hear information that directly relates to the methods by which they do this. Additionally, since news stories are almost always concentric upon the negative with relation to what is going on in the world, it was necessary to visit the museum in order to see first hand some of the things that are being done. Secondly, I spent some time at an exhibit of Joseph E. Davies personal correspondence. To those that are not familiar with him, Joseph E. Davies is the US Ambassador who was responsible for meeting with Joseph Stalin during World War II. As such, the personal correspondence helped to reveal a side of Soviet Russia and the interactions that he had with Joseph Stalin that would otherwise be unknown to history. Furthermore, even though Joseph E. Davies presented an optimistic view of the Soviet Union to the president (FDR), he held a bit of resentment towards the Soviet Union as a result of the show trials that were currently being carried out upon the instructions of Joseph Stalin. With relation to how each of these related to the overall class them, it should be noted that each display helps to show the spirit of integration and involvement with which US diplomacy and foreign

Development of a Mathematical Model Essay Example | Topics and Well Written Essays - 1000 words

Development of a Mathematical Model - Essay Example Major immediate concerns are the possibility of underground movement of the gasoline, pollution of ground water and sewage systems and contamination of housing by toxic and flammable fumes. The effects of this spillage is mainly on water pollution and air pollution, the sewage pollution is not likely to have any effect on the people, the pollution of underground water as a result of this spillage and air pollution due to the effects of flammable flames are likely to affect the people and therefore we will develop a mathematical model as follows that explains this effects. Petroleum products are hydrocarbons and have the chemical formula CnH2n+2; Trimethylpentane is used as gasoline and has the chemical formula C8H18, in this scenario therefore the contact of petroleum with oxygen takes the following reaction: This reaction with oxygen produces carbon dioxide, water and heat; however the incomplete combustion of gasoline is harmful in that it causes the formation of carbon monoxide, and nitric oxide as shown below in the chemical reaction: Therefore this will result to the formation of gases that once they are inhaled endanger health, carbon monoxide reacts with red blood cells which carry oxygen from the lungs to the other pats of the body to form an irreversible compound therefore a person who inhales this gas could die due to insufficient oxygen in the body. Petroleum is insoluble in water and therefore does not react with water, it is less dense than water and therefore will float in water, therefore to its causes to underground water will only affect the availability of clean underground water. We will not consider the effect on land because there are no major direct effects as a result of the spillage, we shall not also consider the effect of the spillage on sewage lines because the contents are not of use to human beings. Our major concern therefore is the production of carbon monoxide and nitric oxide, we can form the following mathematical model that analysis the effect of one litre of fuel: One mole of gas occupies 26.5 litres volume at standard temperature and pressure, therefore one mole of C8H18 will produce 2 moles of carbon monoxide and two moles of nitric oxide, therefore if 1,000 litres of petroleum was spilt then this will produce 37.74 litres of carbon monoxide and 37.74 moles of nitric oxide.3 The model can therefore be specified as follows E= 2 litres carbon monoxide + two litres nitric oxide, and this is per litre of petroleum spilt, Where E is the total effect. Scenario two (b) There has been a spillage of gasoline from a road tanker in a town (population, 5500). Most of the gasoline

The developmental stages of adolescence and adulthood

The developmental stages of adolescence and adulthood As a growth stage, adolescence is characterized by exponential and dramatic physical milestones which enable an individual develop from childhood to adulthood. It is during this stage that secondary sexual characteristics emerge due to a surge in production of testosterone in boys as well as estrogen in case of girls (Slee, 2002). These hormones continue being produced until total maturation is achieved. Onset of adolescence and puberty begins early in girls than in boys though individual differences exist due to hereditary and environmental factors like diet or exercise. Rapid increase in weight and height is achieved from as early as 9 years and peaks at around 14 years. Girls develop breast buds during early adolescence with full breast development being achieved at around 12 to 18 years. Hair growth in the pubic area and the armpits begins while the onset of menstrual periods (menarche) begins after two years of breast development. Girls assume a curvier body caused by development of more prominent hips. In males, hair development begins at the onset of adolescence with hair growth being exhibited on the face, pubic area, chest, armpits and on the legs (Slee, 2002). Rapid increase in height and weight is also witnessed in adolescent boys. Appearance of nocturnal emissions also known as wet dreams at the ages of 13 and 17 years primarily marks the adolescence period in boys. The boys notice a considerable enlargement of their sexual organs (i.e. testicles and scrotum). The lengthening of the penis closely follows this development. Deepening of the voice occurs almost along the same time as penile growth. A larger Adams apple then develops. Q2: Adolescences and cognitive development: Key Milestones Adolescence is marked with the development of formal logical operations which are more complex. This is unlike the concrete operations witnessed in childhood. During late childhood, the kind of concrete development achieved, enables the children to think in concrete ways since the actions and events performed during this stage can be evidenced or presented (Berger, 2004). A significant change is achieved during adolescence as the person is now able to undertake abstract thinking whereby he/she thinks about possibilities. The adolescence is also able to think about the occurrence of thinking (i.e. why does a person think?). The ability to derive reasoning from already known principles and ideas characterizes this stage. Considerable amount of time is used to make the transition from concrete thinking to logical operations in a teenager. During adolescence, an individual is able to think systematically and derive logical solutions to a problem. Every developing teenager progresses at a personal pace thereby developing personal view of the world. Here logical application of information especially when undertaking schoolwork is effected. Adolescents are largely emotional, thus when an emotional turmoil occurs, the teenager is unable to think in a complex manner. Before making decisions regarding a particular issue, the adolescent largely question authority as well as pre-existing societal standards. Adolescents form and verbalize their thoughts and forge their taste and preferences on such activities as the sports to play or the personal appearances to adopt. In middle adolescence, the persons cognitive development is geared towards philosophical and futuristic concerns (Berger, 2004). Instances of extensive thinking and questioning are exhibited with the individual establishing their own identity. Individuals begin to systematically think about their future goals and make plans to make the realization of the goals possible. During late adolescence, the individuals complex thinking is geared towards more global issues like pol itical views, history or justice. Thoughts of the role they will play as adults as well as career choices are exhibited during this period. Q3: Physical development: Key Milestones in Early, Middle and late adulthood Adulthood is not marked with physical and exceptional growth spurts. During early adulthood, the individual is transiting into adulthood from adolescence and continued physical growth is exhibited especially in shoulder width and chest width being exhibited. Early adulthood is a mark of adult life as body degradation has not started to occur (Kail Cavanaugh, 2008). The body experiences hormonal changes which may result to increased body build. Middle adulthood is characterized by slow physical changes. A considerable loss of sensory sharpness is exhibited. For instance, there are some level of hearing and sight impairment. Sensitivity to light as well as far sightedness begins to emerge a condition which can be corrected by wearing glasses. Gaining of weight in the abdominal region occurs in men while womens hips and thighs increase considerably. During late adulthood, noticeable impairment is seen. The bone mass dwindles while fertility levels decline. Graying of hair as well as sk in wrinkling is also evidenced. During late 40s and early 50s, women experience menopause whereby the ability to give birth again ends. Hormonal levels also drop considerable. Due to thinning of cartilage bones located at the spinal vertebrae, the posture may change (Kail Cavanaugh, 2008). It is estimated that womens height shrinks by about 5cm while that of men by 2cm. Illnesses like heart diseases result due to build up of cholesterol level on the blood capillaries, The brain shrinks due to the diminishing blood supply. Q4: Cognitive development: Key Milestones in Early, middle and late adulthood Cognitive development continues even during adulthood despite the continued brain aging. During early adulthood, alert old people continue to think and act rationally with a lot of alertness. While acting in situations requiring memory and learning prowess, their output is better than that of younger people. This is largely because of experience acquired while accumulating and organizing information (Howe Brainerd, 2009). During middle adulthood, cognitive abilities continue to improve. More adaptive and concrete thought line is exhibited within the adult, making possible several rational decisions procedures regarding personal relationships, emotions as well as social issues. Late adulthood which occurs at about 65 years is marked with considerable decline in intellectual abilities. The ability to execute unfamiliar tasks or finding a solution to a complex problem becomes troublesome to the aging adult. Slowed response to situations and information is exhibited during this period. This is because of considerable reduction in mental as well as physical activity. Emotional crises like depression and stress also play a major role in cognitive decline in late adulthood (Howe Brainerd, 2009). Brain weight reduces thus casing considerable loss in speed and memory losses. This ultimately increases the reasoning and understanding levels of older people causing them to exhibit wisdom. Q5: Adolescence and Socioemotional development: Key Milestones Brain segment which controls emotions is developed and matured during adolescence. Adolescents exhibit spontaneous emotional outbursts especially when dealing with peers as well as parents. This possesses a challenge especially to parents and teachers who may be overwhelmed on the manner in which to respond to such outbursts. A gradual process is undertaken in enabling the adolescents to learn how to replace the improper thoughts as well as actions with behaviors which are goal oriented (Pulkkinen, et al 2006). A major conflict which exists in adolescents development is the eminent desire to obtain more freedom than that allowed by parents and/ or guardians. According to Socioemotional development theory by Erikson, this phase is marked by the improvement on a sense of identity when in a relationship. Adolescents also desire to have independent thoughts regarding their desires especially when focusing of their abilities and goals. Peer relationships are emphasized by the adolescents since they are primarily looking for freedom from parental authoritativeness. Such behaviors as drug and substance abuse and risky sexual behaviors are developed during this period. Adolescent association with deviant peers is common hence the reason why parents need maintain open communication with their adolescent children so as to know when their children risk being involved with such peers (Pulkkinen, et al 2006). Bibliotherapy especially in social groups where literature is used to arm the adolescents with information regarding the changes occurring in their bodies, is vital in helping the adolescent cope with emotional turmoil. Q6: Socioemotional development: Key Milestones in Early, middle and late adulthood Massive Socioemotional changes milestones are exhibited during adulthood characterized by forging newer social relationships as well as positions. Depending on personal experiences, the Socioemotional sentiment differs from one person to the other. Such emotional activities as marrying, death, getting or losing a job, going to school or being abandoned by a spouse contribute to social development of individuals. During early adulthood, individuals decide on the career path to follow and they devote considerable a lot of their time in following their career path. Issues of love feature prominently during this period making many people want to establish their families. The thought of being parents is made evident during this period thus changes in personal and social orientation emerges (Berk, 2004). Middle adulthood is characterized by a midlife crises phase. This period is characterized by individuals trying to modify or even reappraising their lives as well as the relationships alre ady formed. The level of satisfaction and contentment upheld during this period is highly dependent on the type of accomplishments achieved. For instance the kind of job, finances, family and sex life upheld determine whether the individual will be happy or not. During the late adulthood phase, the emotional maturity is evident in many adults. Active participation in political and social scenes is common. Majority of the people who were in formal employment retire during this period. Life satisfaction and esteem is high during this period owing the achievements acquired. People adopt an inward looking and conforming lifestyle and enjoy interactions with other family members. Relationships become increasingly satisfying and fulfilling than any other period (Berk, 2004). According to Erikson, the Generativity vs. Stagnation stage is characterized by an increased interest in an individual to guide the development of the next generation. Through genuine care and productive social involvement individuals desires to produce something of real value which will positively impact on the society thereby achieving Generativity. On the contrary, individuals who are self-centered and do not engage in activities beneficial to society suffer from stagnation contributed by their lack of productivity.