Commercial Banks Role in Qatars Economic Development - Essay Example

Appendix 4: Internship Final Report Template ID: Internship company Semester Summer 20xx Field Supervisor Field Supervisor’ contact Work Address: Email: Academic Supervisor Dr. Final Report (Max grade 30 points. You must NOT exceed 12 pages in total) Introduction to Organization: one page Brief background of the company Commercial Bank plays a vital role in Qatar’s economic development through offering a range of personal, business, government, international and investment services.  Their services support individuals, the public sector and companies of all sizes in Qatar and internationally. Commercial Bank operates in Retail and Wholesale banking and makes strategic investments through its associates and subsidiaries. History In 1974 Commercial Bank is incorporated as Qatar’s first private sector bank. In 1975, The Bank begins operations under a management-services contract with Chase Manhattan Bank. In 1981, The contract with Chase Manhattan Bank officially ends as a result of Commercial Bank’s consistent success and growth. Commercial Bank, fully independent, is now able to build on shareholder funds, reserves and fully invest in the Bank’s expansion. In 1987, a new Commercial Bank head office opens on Grand Hamad Street. In 1990, ATMs are introduced in Qatar by Commercial Bank. In 1992, Point-of-sale machines are introduced in Qatar by Commercial Bank. In 1997, Dedicated Customer Call Centre is established. In 2006, Commercial Bank signs an agreement to become the title sponsor for the Qatar Masters golf tournament. In 2008, First Qatari bank to list GDRs on the London Stock Exchange. Also, it is the first Qatari bank to list bond issue on the SIX Swiss Exchange in 2010. In 2011, incorporates Commercial Bank Investment Services. In 2012, A strategic partnership with Katara Cultural Village Foundation is announced. Current status of company Commercial Bank won several internationally recognized awards, including the Citi Performance Excellence Award and the JP Morgan Quality Recognition Award. In 2013, Commercial Bank acquires 74.24% shareholding in Alternatifbank in Turkey. Company statistics such as number of employees, stocks, etc. Commercial Bank is the leading private sector and second largest commercial bank in Qatar by total assets and shareholders equity. The total number of employees in the bank is 1150 in 33 branches. Organization Objectives and Missions: one page Write Company mission statement The Commercial bank mission statement is "everything is possible". Qatar’s National Vision rests on four pillars – Human Development, Social Development, Economic Development and Environmental Development. The Commercial bank goal is to support this National Vision and help provide a high standard of living for all Qatar’s people. Company objectives and Services it offers Commercial bank has divided into two segments which are the retail banking segment and the wholesale banking segment. Each of them provides different services. The retail banking segment consisting of current consumer and vehicle loans; 1. credit card and debit card services; 2. personal current; 3. residential mortgage services; 4. time and investment account services; 5. saving and custodial services. It provides it services to individual and retail customers. The wholesale banking segment including 1. currency exchange facilities, 2. loan syndication and structured financing services, 3. demand and time deposit services, 4. and interest rate swaps and other derivative trading services. It offers its services to commercial, corporate, and multinational customers. 1. Internship Position Description: one page Max grade = 2.5 pt. Max 1 page Mention the job title/position and description The position I was entitled during my internship is a relationship officer. This job title involves learning and gaining brief understanding about general transactions and other related process of Commercial Bank Qatar. Also it requires filling and accomplishing some applications for clients during a specific period of time such as opening new account, depositing cash and cheques and modifying the visa or master cards. Company expectations from this job title during your internship The companys expectations from this employment offered to me as to an intern are to perform job tasks in a safe and effective manner and develop strong technical skills needed to deal with transactions and enter the commands in the system and other programs. Besides, they expect a proactive involvement to gain practical experience in banks operations and sometimes to deal with customers if needed. There were other expectations such as understanding mathematic skills, achieving personal growth in work environment, and gaining firm and functional knowledge. Training Completed: 3 pages Week 1 In the first week I have met the head of the branch to get an introduction about my training department. He let me meet with the employee in the relationship office to train me. In that week I did many tasks: 1. Finishing out the application order (open new account, credit card, loans, and mortgage loans….etc.) for a customer by checking the main information such as (e-mail address, signature and salary….etc.) and related requirement such as (copy of ID, passport, salary certificate,….etc.). 2. Sending the application order to the relationship manager to approve it. 3. Once the application order is approved, the relationship manager sends it back to scan it by using specific program in the computer. We had to choose the right option for every application order. While scanning, we must write the branch number and the customer account number. 4. Filling the application save keeping the cheque by getting the information from cheque itself. 5. Writing it down into the book record. Moreover, I filled the application for deposit cheque. Week 2 In the second week I became interested to learn more and my supervisor gave me a chance to do that and I succeed. So I did many tasks: 1. Checked and approved that the received ATM & Credit Cards have the same information as the system. 2. Filled the account application for minor. 3. Scanned the transfer application form to relation manager department (RM). 4. Registered transfer application form in the book registration so that if any problems appeared from customer or transfer department we could check in this book 5. Checked for customers if they pay tax or not for all of customer when they order any services in the bank and this check have a form to fill out. Week 3 In that week I became familiar with bank transaction. I learned more things such as:- 1. Registering order application reference number, that number is the number of finishing the order and services of customer requested so any thing happened after completed the customer request the bank refer to reference number. 2. Filling credit card application form. 3. Filling loan application forms. 4. Stamping the checkbook, 5. Checking on applications with specific stamp because every application forms have specific stamps. Week 4 That week was a final week so I got good training, because I learned much:- 1. Complete details in card cancellation form. 2. Use the CRDB program. 3. Fill the joint account application form. 4. Process points reward for customer. 5. Reissue new pin order application. 2. Intern’s Contribution to Organization: one page During the internship I contributed to the organization in many ways: 1. Performed some tasks in the case of pressure days without using system because we could not access employee system. 2. My completion of my internship has added to the reputation of the organization as a skill-developing organization. 3. Learned many bank tasks and made departments manger depend on me. 4. I helped the department when I worked instead of an absent employee. 5. My supervisor assigned me to train another trainer, because she trusted me. 6. A lot of mistakes were avoided, because of my continuous announcing the other employees. 7. Reviewed and provided incitements on integrating account opening and card application form into one simplified form. 8. Ensured that clients’ data was well preserved by, sometimes, reminding employees about essential missing data supposed to be recorded. 9. Suggested new queuing procedures to reduce confusion in the bank. 10. Helped reduce the work load for the bank that would otherwise be done by the staff. 11. Due to my speed and accuracy, I have managed to handle some of the tasks that we assigned to the other employees. 12. I become able to bring in more new customers to join the bank. 13. In case a problem arises, I used to calm down others and helped the employees to find a solution. I always take the initiative for helping my mates in doing some tasks. 14. I gave some ideas to the officers to perform the tasks easily and smoothly. 15. The organization has benefitted from my excellent interpersonal skills and dedication to my work as well as willingness to learn. 3. Academic Training and Organization’s Expectation Comparison: one page In my studying in Qatar university specially in my major management I learned many things, which match my work place in commercial bank while I am training:- The leadership work style in my work place has a charisma and every employee follow it and respect it. The other thing that I learned in university is the work hrs. They worked 40 hrs peer week and part time employees worked 20 hrs per week. Also, I noticed that in the reality it is not easy to obtain what we have study because we study the general idea, but in real life we meet many different people and different culture that we have to know how to treat them even if we understand their culture but we cannot easily treat the personality. While I am training in commercial bank I met a leady how take a sale person position. She told me how it is hard to convince the customer. However, the practical application in the company helped me understand the concepts that I studied in the University. I worked in the bank, performed a lot of works and deal with customers, employees and manager. As a result, I learned the process of planning, organizing, staffing, directing and controlling activities. 4. Usefulness and Merit of the Internship Training: 1/2 page The internship program is really nice and new experience to me. It helped me develop my personal and practical skills as I dealt with professional employees who supported and trained me providing me with useful suggestions for self-improvement. In addition, since I communicated with the staff and with the manager, I gained knowledge about habits, skills, and attitude that are required to work in the organizations. As a result, I enhanced my ability to get a career in the future. Moreover, the Commercial Bank assists me to develop myself and provided me the opportunity to be more professional by working with the expert employees. The main advantage in Commercial Bank is that they trust the internship students. They provided us with important documents and applications. Also they gave us the access to the system and engaged us in the sensitive works of the organization. Assessment of the Organization’s Work Environment: 1/2 page. The working environment in the bank I worked in was nice and healthy. I was really happy with the attitude I met. I communicated with employees and can make a conclusion that they are very professional. It was very pleasant to work with them because they never refused to help me and share their experience. They gave good advices and helped me adapt the main rules and principles. I was pleasantly surprised with the way employees communicated with each other. However, I did not feel that employees had much experience working with interns as they did not get nice instructions. Nevertheless, the environment in the bank was quite positive. 5. Suggestion for Program Improvement 1/2 page Qatar University has to assign each student to a company that suited his or her major, because not all companies are providing the internship summer program as it should be. Some of them are just hire interns students to increase their percentage in education field. They dont give the students any work or give them tasks not related to their major. Also, many students cannot write the weekly report because the company gives them the same tasks every week. Other suggestion is to let the students register in the internship program after taking all major courses instead of completing 75 hours. It is important to understand the majors topic before working in the company. Furthermore, they should increase depending on excel and other computer program in the courses instead of solving issues manually to prepare them for working in companies. Commercial Bank has to explain the work to the interns before engaging them in the work because it is a new experience for them. Also, as they arrange many meeting for employees that don’t benefit interns, they should engage them in other meeting that related to the work assigned to them. In addition, they should hire more students because they offer a strong internship summer program. 6. Conclusions 1/2 page My work as a relationship officer in Commercial Bank was very helpful for my future career. I learned much about the transactions and activity of the bank. I really enjoyed working with clients and the employees helped me with difficulties. I learned much about the work in the organization and in the staff. I gained the valuable experience communicating with the employees. Now I know more about my future profession and I am able to develop my own plans, because I have learned how to work on my specialization and I now how to realize my plans. The practice I got was invaluable and I am sure that I will use the acquired knowledge in future. Read More