Banks & Annual Closing

What is closing? It is an internal procedure that every business, institution, organization and company undergoes. However, the closing of banks is the most notorious one because they are the center of all the currency and finances roaming about in various businesses. Even a small business has to do a daily, weekly, monthly and then annual closing to learn about the details of what they spent and what they earned. For banks, it’s about various other details since the banking procedures are governed by various applicable laws. Why did I bring up closing and why are we talking about the annual closing of banks? It is an internal procedure and should have nothing to do with those not directly involved but sadly, it does.

As the year went through the annual closing, banks were all in chaos. People were requested and even begged to leave their savings in their accounts. While large account holders were similarly requested and begged to submit as much amounts as they could. Why? Because the banks were doing their annual closing and they needed the numbers. The numbers that they would use to advertise how great they were doing. It is a sad sad predicament. Yet again, another institution of our country only takes into account its own preferences and doesn’t concern itself with the need, desire and preferences of its clientele.

My person interaction with this situation was that when a needy person needed a certain donated amount to purchase dowry for their daughter; the banks didn’t facilitate them. This needy person was a labor who worked on daily wages and a certain NGO had procured donations to fund the dowry of this person. Even though, donations aren’t easy to arrange they still managed it. The only thing that remained was to cash that donation and purchase the dowry. The banks just didn’t let the NGO to cash out the amount because they were going through the annual closing. How sad and unjust is that? The NGO then managed by using various contacts and by asking favors from local business owners. However, this should not have happened.

The closing procedure is of an internal nature. The banks are service providers so for them, the preference of their clientele should come first. Regardless of whether or not they’re going through their daily closing, weekly closing, monthly closing or annual closing.

This article is written with the intent to point out that this is not appropriate and that banks should revise the way they work. Aren’t bank managers and officials supposed to be educated individuals? If so, then ideally educated individuals in the service provision field should be more caring and humane towards their clientele. Why is it that everything is going in the opposite direction? We really, should go through a process of self evaluation. And in the spirit of the beginning of a new year, we should rethink how we do things. 

The Irony of Educationists & the Educated

When it comes to educationists and the educated in Pakistan, there’s a lot that can be said and criticized. So, I’m not going to indulge in a similar manner and follow the typical stereotype. Instead, I’m going to look at the same topic with the help of something I recently noticed. In order to do so, first I’d like you to see this image:

If due to some reason you can’t read or having difficulty reading the contents of the letter/notice, this is the body of the letter:

“1. It is stated that kindly instruct your bank to deposit Army Public School (Zamzama) Junior fee bill within due date. After due date any fee bill of this institute may not be accepted.

2. Fwd for necessary action please. “

This letter is written to the Manager of Askari bank and written by the Principal of Army Public School (Zamzama). I will not indulge the identities of the individuals representing these designations. What my intention and the intent of this article is to express my disappointment. And instead of criticizing the organizations and representatives, my point of view and this article is meant to attempt to correct the mind set, the thought process and the mistakes.

Other than the obvious grammatical mistakes of this letter, which I will not point out as they are as clear as day; the letter itself and its display is incorrect. The Principal asked the manager to instruct the ‘bank’ itself. However, the bank is an entity, an institute or organization and thus cannot be instructed. Instead, the Principal should have asked to instruct bank officials, employees and/or staff. Why does an educationist not know something so basic? It is indeed a distressful thing to learn.

From the manager’s end, despite him being a qualified individual and a professional providing his services in the field; he does not know how to treat an internal letter. This letter is obviously meant to be an internal letter written from one organization to another. Despite the lack of a reference number, displaying it in the open is not the appropriate procedure. What the Manager should have done, as Askari Bank is most likely an ISO approved organization/entity, is that they should have assigned a reference number to this letter. Then, they should have maintained a record of it and dispatched an immediate memo notifying the staff and officials of the policy update. Meanwhile, a notice should have been written and displayed for the public to see. What they actually did was just display the letter for everyone to see? The laziness itself is appalling but how an educated and experienced professional is responsible for it is even more than just disappointing.

This is the disappointing procedural situation but the major and actual dilemma which we all know is also evident. A school, an institute meant to nurture the brains of our little ones develops such a policy? Is that even acceptable? Is the main purpose of schools now to ensure that fees are paid in time? While most of our private business owners have made it a habit and norm to pay the salaries of their employees late; our schools are making policies that no late fees would be accepted. So, we’re slowly leaning towards an environment where only the privileged will have access to education.

Dear Educationists, please redesign the way you think and this time, please remember to include some humanity. Dear Educated, please don’t forget what you have learned and what is expected of you. Please do not just collect millions of rupees in salaries, try and earn it for once.