Essay About Banking Industry

This system was introduced to eliminate interest based banking under Sharia. Many existing definitions were revised such as Creditors, debtors, advance credits, Interests and so on in order to carry out interest free banking. The interest of Askari bank is to being the most viable institutions financially .

This new concept was very successful in Pakistan banking system and many new branches were opened and used the techniques laid down under Islamic Banking starting from 1981. the plan is to develop new innovating and different products to the demand of the customers.

(Uzma Zia, 2005 Organizational Structure of the Askari Bank is well managed and structured, under the supervision of top and lower level management flows the rules and policies made by the higher level management.

Askari bank is following Centralized system of management.

INDIAN BANKING SECTOR From 1806 qualitative & quantitative changes have been taken place.

With 1935 regulation RBI was proclaimed as central bank of India.It seemed to be tough task as Pakistan had the shortage of trained people to work for the Central Bank of Pakistan.Shortage of trained people resulted in great difficulties for the government to make a full fledged Central Bank. With Better Technological improvement business performances enhances. As the customer migration rate is high so it offers low rate of return.Exposure to worldwide competition and deregulation in Indian financial sector has led to the emergence of better quality products and services.Reforms have changed the face of Indian banking and finance.This is the fastest possible money transfer system through the banking channel.It is different from EFT and NEFT It is primarily for large volume transaction The time taken for effecting funds transfer from one account to another is normally 2 hours 3.This may had been to un-stablize Pakistan as many Indian banks intentionally did this.Only few banks were left in Pakistan and those too were trying to wind up their businesses.In 1990’s greater emphasis was placed on technology & innovation.New concepts like personal banking, retail banking, total branch automation etc were introduced.

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