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Internship on the bank audi lebanon

Bank, Internships, Research

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Dear Dr . Este Hokayem

In the following record, I will be discussing my internship knowledge which came about in the Lender Audi Elyssar, Lebanon via 14 August till 7 September 2017. The internships took place in two key places, the top office in downtown Beirut and the branch in Elyssar. Once per week there were to go to the head office in down-town and spend the day generally there attending delivering presentations from managers at the bank who talked about the different departments in the lender and the solutions Bank Audi gives. In the report, My spouse and i focused regarding the departments of Financial institution Audi and my knowledge that I obtained through this internship. I also described the added benefit, course evaluation, and suggestions about the general internship. The size of the internships at Lender Audi constrained my report mainly to information about the departments, how the financial system works, and the solutions Bank Audi give. I would really prefer to thanks to the time to read my report.

All the best

Charbel Gemayel

Outline

Introduction

Founded in 1830, Traditional bank Audi can be described as regional Financial institution. It functions principally in Lebanon, the MENA area and, Chicken, offering a complete range of products and services that principally cover commercial and corporate banking, full and personal financial and private financial, as well as additional activities including Capital Marketplace activities and factoring. As at end-March 2018, the lender ranked initial among Lebanese banks in terms of total possessions (LL sixty-five, 550 billion), shareholders’ collateral (LL six, 444 billion), customers’ deposit (LL twenty four, 542 billion), loans and advances (LL 23, 476 billion) and net profits in the 1st quarter of 2018 (LL 172 billion). In addition to its historic presence in Lebanon, Switzerland and Italy, the Group currently are operating in Jordan, Egypt, Saudi Arabia, Qatar, Abu Dhabi (through an agent office), Frate, Turkey and Iraq. Financial institution Audi features 6, 430 employees, which includes 3, 353 persons used in Lebanon, 1, 149 individuals employed by Odea Bank in Chicken and 1, 414 individuals employed for Bank Audi Egypt.

Bank system

The financial system is a really complex system that requires clever strategies, planning and preserving quality. Traditional bank Audi features ticked all of the above, becoming ranked number 1 in Lebanon in the bank sector as of march 2018. Bank Audi has several main types of sections

  • Corporate Industrial Banking:
  • Business Banking: Largely deals with small , mid-sized, and enormous corporate consumers, and offer these people a wide variety of services. Some of these solutions include:

    • Equipment loans: Bank Audi offers its customers personalized loans to satisfy there requirements, by offering all of them loans in order to meet there operational demands (such as machines, equipment, supplies¦)
    • Commercial real estate services: Financial institution Audi offers business loans to get a certain property or facility, because not every firms have liquidity to perform such opportunities so Bank Audi tailors special loans to meet the request of their customers
    • Business loans: Represents the biggest area in corporate financial, and Traditional bank Audi gives tailored financial loans for their consumers and work alongside the client in profile evaluation, development analysis, and cash supervision
    • Financial products: just like trade financial, performance you possess, letters of credit.

    As a result of the wide variety of services Lender Audi offers in corporate and business banking, they have the largest business loan collection among Lebanese Banks (USD 11. 27 billion)

    Commercial Banking: Is actually a division in the bank by which customers open up checking accounts, savings accounts, money market accounts and Cd albums, provide banking institutions with the capital to make financial loans. Customers who have deposit funds into these types of accounts efficiently lend cash to the bank and are paid interest. The bank then lends this capital to clients who are in need of loans by a higher rate of interest. This is the fundamental concept of the banking program and how functions, the bank will take money in the deposits (surplus) and deepens the money to people who require cash (deficit).

  • Retail Banking: is a typical mass-market banking by which individual clients use community branches of larger commercial banks. Solutions offered consist of savings and checking accounts, mortgages, loans, debit/credit credit cards. All banking institutions aim to generate their full banking department a one quit all in all store to offer a large number of financial services to consumers. These branches nevertheless have expense, so financial institutions are looking at fresh technological expansion to improve solutions at a much lower cost through online banking, ATMs, ITMs and many more. Traditional bank Audi’s digital transformation journey began several years ago, by presenting NOVO, touchscreens, video financial services and many more self-service programs. As for March thirty-one, 2017, your bank offered a lot more than 150 price tag products and services to more than one particular million price tag clients over the countries of presence of Bank Audi. The product varies include checking out and cost savings accounts, fixed-term deposits, lender insurance goods, loans and residential mortgages, SME lending, credit cards, as well as a host of innovative full products created in association with leading partners over the region. Since march 2018 Bank Audi’s retail collection is at $3. 23 billion.
  • Private Banking: Lender Audi Non-public Bank is a management in charge of Bank Audi’s private traditional bank. It operates through three main spots Lebanon, Switzerland, and Saudi Arabia. In 1976, Bank Audi’s private financial institution was established and has managed an ever growing strong consumer bottom. Private banking is not just a typical traditional bank, it is pertaining to high net worth all those who have00 to pay in a minimum of $250, 000 to open a merchant account. Bank Audi’s private financial institution offers a large number of high end services such as with complete access to significant markets around the world and global investment products, including discretionary portfolio supervision, investment advisory, trade setup in all advantage classes, Lombard credit, and also other private bank services such because estate planning, fiduciary debris, safe guardianship and charge cards. As of drive 2018 Traditional bank Audi’s possessions under supervision (AUM), custody of the children accounts, and fiduciary deposit were $10. 99 billion dollars.
  • Investment banking, and capital markets: since. mil novecentos e noventa e seis, the. Lender has. designed a substantial capital markets franchise. In Lebanon, the Bank is known as a market developer on the Beirut Stock Exchange with an 18% market share. of trading quantities by worth, as for December 29, 2017. The financial institution also has a. significant talk about of the Govt. Eurobond and Treasury Bills markets, with an annual trading volume exceeding beyond U. H. $9 billion dollars in 2017. Within MENA, the bank is usually active in the. equities. market, using a particular give attention to Saudi Arabia and Egypt, and has a existence in the regions’ fixed income markets. The Institutional Insurance desk, proven in 2012, continue to be. develop new. and existing relationships with global nonbank financial institutions to be able to cater to. worldwide appetite intended for higher. containing instruments. This kind of activity. is definitely reinforced by the Bank’s extensive regional macro, sector and markets study. coverage business.
  • In. line. with. the. Bank’s. expansion. strategy. capital. markets. has. extended. client. and product protection to. give corporate consumers more. sophisticated FX hedge. products to mitigate their very own currency and interest rate exposures.

    Human Resources Department

    The Human resources office is one of the essential factors to any firm’s success, and Traditional bank Audi takes a HR office very critically. When a person applies to work they give him two interviews, then schooling, then a test to be recognized. This is because Financial institution Audi guaruntees every fresh joiner can be fully competent to am employed at the bank. This program contains some period in training which usually contains of basics training about the banking program and how to make use of the POS system on the bank, after the training is performed the consumer will apply for an test and if test is handed, he/she will probably be accepted like a new worker at Financial institution Audi.

    The HR department is liable for payment of salaries, salary, compensations and other payments certainly not related to incomes, following employees’ affairs when it comes to attendance, end of services benefits and social rewards.

    Supply of as well as hospital providers to financial institution employees and retirees.

    The Human Assets Directorate includes several departments. Human Resources Development Department, Ideal Planning Department, Payroll and Wages Division, Personnel Affairs, Medical Providers, and Examine Department.

    The HUMAN RESOURCES department likewise looks at position path and succession plan of each employee and work.

    Your Resources Division is in immediate contact with all the directorates and branches from the bank, because it is concerned with the affairs with the employees in every these products.

    It is additionally related to the National Social Security Finance and the Ministry of Financing.

    Foreign Exchange Division

    The other exchange section is a department at Bank Audi in which experts transact international market segments using the money that is on the bank. Usually high end consumers invest in this department, and generally these buyers are from your private banking division of your bank. A group of authorities and analysts handle the other exchange office, they transact stocks, provides, currencies, treasury bills.

    Foreign exchange is definitely buying of one currency and selling one more simultaneously.

    The Forex market happens all over the world and has the maximum daily amount of any other market in the world. Banking institutions, managed money, and specific traders can all transact in the Currency markets.

    Currencies are cited at two prices bet and ask, inquire is the cost at which the investor purchases and ask is at which the trader sells. The investor will buy at a higher price and provides at a lower price.

    In most FOREX quotes, the USD may be the base foreign currency, however there are exceptions for this Rule. EUR, GBP, AUD, NZD are base values when associated with the CHF. For example in EUR/USD, if the trader really wants to buy CHF, he or she will need to ask the broker to trade EUR as EUR may be the base money.

    Stocks and options have the same idea of bid and have, however stocks and options are much more risky than currencies due to high unpredictability.

    You will find two ways techniques for examining stocks or perhaps currencies. There may be fundamental research, which focuses on the fundamental causes of selling price movements, and the technical analyst, which studies the price motion themselves.

    Business Social Responsibility program (CSR)

    Corporate and business Social responsibility was created by Bank Audi with a idea that every organization is supposed to make money margin, nevertheless this earnings margin should be done by respecting the community and the planet. The CSR software integrates cultural, environmental, ethical human privileges and human being concerns into business functions.

    Lender Audi developed this program to convert the lender into a great environmentally friendly financial institution. By taking care of carbon impact and volunteering with NGOs.

    My spouse and i volunteered with “Kibarouna” through Bank Audi’s CSR software, we went to a school in Ajaltoun exactly where we achieved the elderly and spent the morning with all of them, playing chess, taking photographs and had lunch together. It absolutely was a wonderful experience and just displays how much Financial institution Audi usually takes the CSR program significantly.

    The CSR software also has anything for the brand new generation (kids). The CSR team usually spends a day using a group of youngsters teaching them the value of money and the benefit of conserving your money instead of spending it.

    Branch system

    Most of the time of my personal internship system I put in was at the branch in Elyssar, exactly where I learned how the functional side in the banking system worked.

    At the basic of the department there are tellers, who basically handle the customer’s deal needs.

    There are many guidelines applied when being a teller, every cent that enter from beyond the bank must be checked in order to maintain artificial money risk.

    Behind the tellers there are two supervisors that have to sign on every deal note that the tellers make, and manage any concern that arises from late checks, checks with no balance in the account and many other duties.

    On the second floor, you will find counters for loans and loan plans, here a customer will come and enquire for a loan, then a employee will put on the machine the info of the client (income, where he lives¦) and the system will determine how much to grant this kind of customer for what charge and for how much time.

    Atlanta divorce attorneys branch there may be an office young man, who is in charge of the demands of the department from drinking water to daily news, to tidiness of the branch

    Finally, there is the branch administrator, who is responsible for the whole department and handles it.

    SME

    Is a program created by Lender Audi pertaining to small , medium-sized enterprises (SME). It is a software that grants and tailors loans can be with in require of cash about $100, 500. With no assets on the mortgage.

    This is to build sound, long-term organization relationships with customers

    Bank Audi offers many types of SME loans:

  • Business cash advance: a loan to finance restoration, new tools, buying a franchise, patent, to get a comfortable period
  • Empower greeting card: a flexible bank loan in the form of a plastic card to get assets, products, machinery, capital expenditures.
  • POS money advance: cash advance to finance daily business expenditures such as getting good, spending salaries and paying hire.
  • Electricity card: Fund daily jogging expenses through flexible life loan, in the form of a car.
  • Premises mortgage: Contains two borrowing applications with versatile plans
  • Work packages: that provides free banking transactions in addition to a reward program
  • Kafalat bank loan: Kafalat is known as a Lebanese financial company that helps SMEs by providing loan assures that are being provided by Lebanese banks to SMEs based upon business plans and feasibility studies that show the viability of the suggested business activity. Kafalat is definitely 75% held by the Nationwide Institute pertaining to the Assure of Build up and 25% by 60 Lebanese banking companies. The loan guarantee is given to productive financial loans creating added value, or perhaps for all business related bills that include fixed assets and working capital. The price tag on the loan is definitely 2 . 5% on the certain amount yearly over the bank loan period. 3° on the Certain Amount during the First Season. In addition to interest calculations and BDL subsidy.
  • Exceptional Investigation Commission

    Like a bank, by law no kind of money laundering is allowed. So Financial institution Audi offers special methods and rules when it come to this subject.

    Funds Laundering can be described as world-wide concern and Lender Audi provides implemented guidelines to control funds laundering. For instance , no consumer can put in cash or maybe a check whose value is greater than $10,50, 000 with no clear evidence that the funds came legally and not illegally.

    For instance , one day I was at the part and ladies came to first deposit a check with a value of $70, 1000. She stated that the funds was by a land she marketed, so the financial institution required legal documents that she used to own the terrain and the daily news for someone buy of the property.

    The lady didn’t have the sales record so the verify was declined and the girl was asked to bring the remaining documents.

    This is a system Bank Audi contributes to fighting money laundering, by applying stringent rules.

    Conclusion

    In general, the internships program for Bank Audi was a great experience. My spouse and i am learning Banking and finance, once i started the internship system I thought That i knew most of the points in the bank system, nonetheless it turned out Excellent lot to learn. All the course instructors new their particular material and explained that in a very successful way, generally there attitude and there personalities was of the charts.

    My fellow workers in the internships program had been very nice and helpful, I managed to get to meet a lot of people.

    It absolutely was an amazing encounter which educated me a great deal about Traditional bank Audi, how a bank runs, the meaning of the lender and how they will plan ahead to stay number 1.

    Added Value

    Personally, I always wanted to know more about Bank Audi and how it operates. The combination of sessions which occurred at the headquarters in Beirut and the department in Elyssar was just what I needed. We gained an experience that is found nowhere more, and more particularly important knowledge about the departments at Traditional bank Audi.

    Having went to all of the sessions in the Elyssar branch, it was really fun to meet every one of the employees on the branch who had been very helpful to become my friends. It was really fun meeting the individuals at the hq who were more than nice in my opinion and my own internship colleagues. One of the best times was the day I spent with the older at “Kibarouna”, getting to hang out with the elderly and getting to learn my fellow workers even more.

    The overall knowledge was extremely positive in its aspects. In addition to the information I actually gained from the sessions, My spouse and i also liked the brief talks in the breaks which usually allowed myself to know more regarding every friend. I really enjoyed that what I learned in university I saw in all my internship encounter, the banking system, just how loans are made to be lucrative. The bank is recognized to give financial loans, he pays a certain rate of interest on debris (about 6%), and earns an interest upon loans (about 13%), so the 7% difference is the bank’s profit. The lender has a specific limit to how much they can give loans, there is a ratio which is obtained from the bank’s deposits that the bank can use to give loans. I as well saw the basic principles of accounting (debit credit) in the program the teller’s use, in the event that they want to have cash via a customer they will credit the customer’s accounts, if they would like to give the consumer money they debit his/her account.

    Study course Evaluation

    All of the Instructors, each in his or her field, were well prepared pertaining to the periods, in general everyone made sure that we got the appropriate information.

    The periods were distributed in a very specialist way to keep the students determined.

    The sessions were well organized as a result of Ms. Lilian Abou Hamdan from the HOURS department.

    Ideas

    There ought to be more case studies to get given regarding the financial system, other than that everything was perfect. An instance study actually helps the intern in discovering the way the bank handles complex issues such as what the bank truly does when the rates of interest rise, giving cases including when an individual is under investigation for money laundering, exactly what the types of procedures taken, it helps the innere understand more the density of issues the bank goes thru and enabling the innere make the decision then show him what actually happened during that time of trouble. This is an essential exercise Traditional bank Audi should make the inwendig take. In the internship they will tested all of us when we attended the Hq in Beirut, but it might have been more beneficial if that they gave us cases and graded us, and made all of us do presentations so that we all learn from other colleagues how they solved the truth and engage in assessing various other team’s operate.

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