COLLEGE OF NORTH ATLANTIC QATAR
Internship in Masraf Al Rayan
Sara Abdullreda Ali, 60064200
Supervisor: Muhanad Yasin Edlbi
Work Time: From 8:00 a.m. to 2:00 p.m.
June 24, 2012
Table of Contents
Internship in Masraf Al Rayan ........................................................................................................ 3
Introduction ..................................................................................................................................... 3
First Week ....................................................................................................................................... 4
24 to 28 of June, 2012 ................................................................................................................. 4
Second Week .................................................................................................................................. 5
1 to 5 July, 2012 .......................................................................................................................... 5
Third Week ..................................................................................................................................... 6
8 to 12 July, 2012 ........................................................................................................................ 6
Fourth Week.................................................................................................................................... 7
15 to 19 July, 2012 ...................................................................................................................... 7
Fifth Week ...................................................................................................................................... 8
22 to 26 July, 2012 ...................................................................................................................... 8
Sixth Week ...................................................................................................................................... 9
29 July to 2 August, 2012 ........................................................................................................... 9
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Internship in Masraf Al Rayan
Introduction
Masraf Al Rayan was incorporated as Qatari Shareholding Company under the Qatar
Commercial Company law, on 4th January 2006, and licensed by Qatar Central Bank. The Bank
is engaged in banking, financing and investing activities in agreement with the Principles of
Islamic Sharia. Headquartered in Doha, with a paid up capital of QAR 7.5 Bn, the bank was
launched on October 2006.
The bank is structured into three main business divisions; Retail Banking which offers a variety
of products and services such as current and saving accounts, time deposit accounts, financing,
credit cards; Wholesale Banking offers products and services such as corporate finance &
advisory services, financing products, cash management, treasury, trade finance and products
and services designed to meet the need for the small and medium enterprises, and Private
Banking which offer tailored solutions in the areas of investment planning & asset management,
wealth management, credit planning and management.
Masraf Al Rayan has a total of 10 branches, stretched within Qatar and a total of 44 ATMs, in
harmony with business need and customer activities.
Masraf Al Rayan department called me on Thursday 21th of June to inform me that I have to
start working in Masraf Al Rayan real estate on 24th of June, 2012 in the main building that is
located in Grand Hamad Street.
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First Week
24 to 28 of June, 2012
I met Mr. Muhanad Yasin Edlbi for HR department and through our kindly conversation, he
informed me that I will work in the operations and will be supervised by Mrs. Maram
Alshmaisani and Mrs. Howaida Al Muhawnadi. After that, he took me to the operations section
on the first floor and showed me my station. According to the supervisor’s plan, I have to work
in all sections relating to operations, such as fund transfer, credit, cleaning cheque, data control
reconciliation and trade finance. This is aimed to give me a full grasp of the entire process of the
department. After that we went to my supervisor Mrs. Maram, we sat together and she gave me a
brief introduction about the transfer department. She told me that for the first two weeks I will be
working in transfer. I also met with Miss. Samera Aljabri and she explained the type of work and
methods required in this department. The transfer department’s difficulties were a little hard to
understand in the beginning of the first week. Transfer refers to the process of taking money
from one account to another and could even refer to the transfer of money across different
countries in the world. She demonstrated how to open the programs and add the information in
each action of transferring. After that, she explained each code and the reasons behind it - one of
the most important jobs in the transfer section is to make sure the transfer code is the right one.
There are four types of payment such as OQ1, OG1, OA1 and OF1. OQ1 means the transfer is in
Qatar, OG1means it’s in Gulf countries, OA1 mean it’s in Arab countries and OF1 refers to the
rest of the world. Each bank has a different system of transferring but all of them have the same
information and transfer methods. Miss. Samera explained the account number for the company,
if we had an account number for the company it should start with 10, 11, and 12. If it’s a person
in Masraf Al Rayan it will start with 75 or 79. If the transfer is from a current account it will end
with 001. If it is from a savings account it will end with 100. There is lot of coding we should
know for transferring. Also, in transfer we add a salary in the account every month. When we
add the salary it requires a different program in the computer system. This program is hard to
read because it’s so small so Miss. Samera had the idea to find each account number in a system
by using the find command. Miss. Samera helped me to understand each code. Even though it is
a lot of coding I am sure that using it everyday will make it easier.
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Second Week
1 to 5 July, 2012
I was still working with Miss. Samera Aljabri and she explained how to add a salary an account.
At the end of the month she had a list of employee names from a company. We have to add each
account number in a program and check each account if the salary if correct according to the
sheet given. When we add to the program it is difficult to check all the numbers, each person
working in the department added a part of the list. Transferring section had a lot of work at the
end of the month transferring and adding salaries to different accounts. When we transfer we
should know the currency, some needed to change the currency and some didn’t. We should be
careful about that because if we made a mistake we will cause problems. Aljabri told me to keep
an eye on the account number and the balance. If the amount net was incorrect we can’t change
it we should delete it and redo it again. If the currency was incorrect it is still possible to change.
After that she told me about the amount charges for each transfer, if the companies sent money in
Qatar the bank takes a QR 25 for each transfer, if the country is within the Gulf we take QR 40.
For Arab countries we take QR 50 charge and for the whole world we take QR 70. A transfer per
person we take QR 15 charge. Some companies with a special offer we charge QR 15. In
transfer we had a section for Inward and Outward. If its Inward it means it is in Qatar and it is in
Masraf Al Rayan it should be from QR 1 to QR 250 thousand we should select the QATIWD
inward. If it is in Qatar but not in the bank it should be from QR 1 to QR 250 thousand we
should select the QATIWD outward. If it is not in Qatar and more than QR 250 thousand we
should select the QCB. Furthermore, we had a section on transfer it transfers methods if we had
more that QR 250 thousand we should select the SW, if it is less than QR 250 thousand we
should select AC. Aljabri told me about the Swift address it means the code for the bank. Each
bank in the world has a code if the code is incorrect we can’t transfer the money. I have learned
so much about transferring money and its processes this week.
Goals for the next week:
I will move to another section in operations I hope it will be interesting.
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Third Week
8 to 12 July, 2012
I met Mr. Khadar Hannan in the data control reconciliation department, which he was very
helpful. Mr. Khadar satrted working in Masrf al Rayan only for three months, but he had a lot of
experience. In this section they check every section in the operation department and calculate
equations. Mr. Hannan told me should reports daily for all money transfers in Qatar or out of
Qatar, than send it to Qatar Central Bank. Qatar Central Bank (QCB) is the biggest bank in Qatar
they are required to know how money is being transferred in or out of the country each month.
This section is also required to check online transferring, for example if the customer wants to
pay a Qtel bell they have to set a Qtel account and transfer directly to it. After the bell is paid all
the information needed is transferred directly to the Masraf Al Rayan system, and also in an
excel sheet which makes the process very easy. We are required to check if the information in
the excel sheet matches the information in the system. You can also check any information
required about the customer in the system. I like working in the section because it reminds me of
all the work I did back in college, like checking numbers and working on excel. Qatar Electricity
and Water Company is similar to Qtel’s system, except that they have more numbers to check
the amount for both water and electricity. Later, Mr. Hannan told me about (BOP) Balance of
Payment, the balance of payment is to control all financial activity outside the country. We are
required to inform QCB the capital of Masraf Al Rayan, and the BOP for the bank, to prevent all
fake bodies and prevent money. If we were to send money in US dollars then it should be sent to
QCB. Then QCB would take care of the rest of the transferring process, just in case if the
country the money is being sent to is on a black list or not. Black listed countries do not work
with the United Stated of America. The USA controls all money transfers in US dollar, the US
dollar is the business currency for the whole world.
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Fourth Week
15 to 19 July, 2012
In this week I moved to the corporate finance department. I met Miss. Sara Mashhadi she
told me I will work with her this week. She gives me an introduction about corporate
finance. In this department I have a new experience and it’s totally different than the
operation. Corporate banking is a section in a Masraf Al Rayan which is for dealing with
the companies. The corporate banking is divided to three sections: government, nongovernment and petroleum & energy. In additional they have corporate customer service.
Corporate banking has two type of facility: funded and non-funded facility. Funded
facility like Murabaha, Mudaraba and Ijara. Non-funded facility for example Letter of
guarantee and Letter of credit.
Murabaha: An Islamic financing structure, where an intermediary buys a property with
free and clear title to it. The intermediary and prospective buyer then agree upon a sale
price (including an agreed upon profit for the intermediary) that can be made through a
series of installments, or as a lump sum payment.
Mudaraba: Islamic partnership between investor and entrepreneur in Islamic financing,
a type of partnership in which one partner provides the capital while the other provides
expertise and management. Each gets a prearranged percentage of the profits, but the
partner providing the capital bears any losses.
Ijara: The use of leasing is represented by the Ijara. Contract in Islamic law the contract
represents a transaction in which a known benefit (usufruct) connected with a specified
asset is sold for a payment. In the course of this sale of usufruct, ownership of the asset is
not transferred; the bank maintains ownership of the asset. The Ijara contract can be
designed to return the fixed assets to the lessor at the end of the lease period.
Goals for the next week:
To learn how give the client the facility.
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Fifth Week
22 to 26 July, 2012
I was still working with Miss. Sara Mashhadi, but this time we worked with the facility.
Miss. Mashhadi told me how to bring a client or a company to the bank. First we should
search about the company and look for various ways to reach it. For example, we can
email, or send messages to all Qtel customers via Qtel, or simply call the company. Then,
we could talk to the company telling them about Masraf Al Rayan and see if they would
be interested to open an account since, companies have special rates at Masraf Al Rayan.
If so, than the company would have to fill an application to open an account. For
companies to open an account they have to provide the bank with the Commercial
Register (CR). Companies at Masraf Al Rayan can add more than one signature for its
account. These signatures help the company to transfer, add, or take money easier. In
case the company needs to take a loan, we have to check the history of the company
before approving it. That would mean checking if the company was consistent in paying
in time, if not than the loan request would be declined. Working in corporate section I
found more needing of attention and precision in work. I have found it challenging to on
it because it is a new topic and a very professional one. So I have learned and gained new
skills by knowing how to deal with hedging cases and what currency would be better if I
am going to take a loan. I believe I need more techniques, practices and more experiences
to be able to deal with these cases.
Goals for the next week:
Learn about letter of credit and guarantee.
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Sixth Week
29 July to 2 August, 2012
This week was the last week and I was still working with Miss. Sara Mashhadi. I learned
in this week about the Letter of Guarantee and the Letter of Credit. The letter of
guarantee is a non-funded facility which the client request for different purpose. There
are five types of letter of guarantee: tender bond, bid bond, performance bond, advanced
payment and payment.
On the other hand, the letter of credit is a document between three parties: seller, buyer
and the third party which is the bank. The bank acts as a mediator between the buyer and
the seller to ensure that the seller will receive his money and the buyer will receive the
right product. Also, I learned about the corporate credit card. We have received two
requests, one of them is to issue corporate credit card and other is to increase the limit of
the credit card. To meet those two requests we needed to get an approval from the credit
risk department first. Finally, I worked with Miss. Sara on checking emails and replying
to various clients' requests and that was the last task that I did in the internship.
I have to admit that I am going to miss all the stuff that I worked with, the work
atmosphere and all of those days that taught me a lot and showed me the difference
between collage and reality.
There were some advantages and disadvantages. The advantages are that I learned a lot
of knowledge and skills that I will never forget such as team work and collaboration. I
learned also that there are no secrets between colleagues because they are working as a
one person and if someone made a mistake, all of them must be responsible to correct
that mistake. On the other hand, the disadvantage was about the system that they are
using which could be shut down suddenly without any reason and that causes a lot of
troubles to them. In addition, the system is not flexible, for example, once data are
entered nothing could be change then. Finally, Masraf Al Rayan is a nice place to work in
and I have really enjoyed working there. I got a lot of experience about the bank and the
processes of each department. I suggest for all students to work in Masraf Al Rayan
because it is a great place to work in and a great opportunity. Undoubtedly, I would like
to work in Masraf Al Rayan in the future.
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