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An Internship Report on Banking Sector, Focus on NIB Bank Limited

PURPOSE OF STUDY

It is necessary for the students of Master that they should be acquainted with the

practical applications of their studies and should gain experiences. In this

connection every student is required to undergo a practical work known as

Research Monograph study in any specific topic of a field in any organization.

he !ain purpose of this study is to fulfill the practical require!ent of the

Masters of "usiness #d!inistration degree.

his study offers practical knowledge and experiences of courses studied.

o write whole experience in a syste!ic and in an organized way under

the supervision of learned teachers and professors.

o i!prove the writing and analytical skills a!ong the students.

Research Monograph Muhammad Faraz Ali Khan1

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INTRODUCTION

This Research Monographexamines the general impact of Information Technology (IT

on the !an"ing industry# The !an"ing industry has introduced $arious ne% customerser$ices and products using IT# The !an"ing industry has gone through many changes as

a result of the introduction of IT# In fact& the structure of the industry is continuously

changing !ecause of rapid de$elopment of IT# The continued success of IT applications

means that the limitations of current IT computer systems in !an"s ha$e to !e re!oust# 1

In the research& the !an"ing industry has demonstrated a fair amount of competence in

the application of IT# 'ome !an"s %ere at the cutting edge of IT and ha$e a clear $ision

of ho% IT could !e furthered applied successfully# an"s ha$e spent millions of rupees

on IT e$ery year in a !id to fully automate its operations and ser$ices to customers# The

industry recognizes that IT %as a ma)or "ey to its de$elopment#

The research !rought to light the fact that IT has increased competition %ithin the

industry# The realizations that the mar"et size is not really increasing has made !an"s

more competiti$e# Also& the expectation of their customers is $ery high and in response

!an"s using IT to satisfy the demand for *uality ser$ices and products# +o%e$er& there is

an increasing outside threat to the !an"ing industry from the non,!an"ing sector#

-eregulation of the !an"ing industry has introduced more competition !ut the lo% cost of

computer technology has made it easier to enter the industry# .on,!an"s can no% pic" up

off the shelf IT solutions for the ser$ices they %ant to pro$ide#

The research re$eals that traditional !an"s find it difficult to integrate ne% computer

technology %ith their old systems# As a result& their IT costs are higher than expected and

IT integration ta"es to much time#

1

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1.1 INTRODUCTION TO BANKING

"anking as a syste! arose si!ultaneously with the use of notes. $otes have

co!e into use in the seventeenth century in %ngland when !any people held

heir wealth in gold. &uring the civil war' people were frightened of being robbed

so they had to look for so!eone who had a safe vault for his own business and

then to ask hi! to keep their gold in his safe. he obvious choice was the local

golds!ith who had a safe vault available in which he kept his gold coins and

bullion ("ullion is the na!e of given to uncoined refined gold and silver' generally

in the shape of bars of bricks). *o it ca!e about that golds!ith took these

deposit for safe keeping on charge of a fee and issued a receipt which

acknowledge the deposit of !oney and incorporated a pro!ise to return it on

de!and. More and !ore people ca!e to hold these receipts. hus' the original

purpose of the receipt beca!e obscure as its function as pro!issory note + a

note which pro!ises to pay + beca!e all i!portant. In ti!e people stopped

calling the! receipts and began to describe the! as notes. hus' the

golds!iths e!erged the first banks.


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1.2 ETYMOLOGY

It has not so far been decided as to how the word ,"ank- originated. *o!e

authors opine that this word is derived fro! the words ,"ancus- or ,"anque- which

!ean a bench.

ther authorities hold the opinion that the word ,"ank- which !eans ,/oint stock

fund-. 0ater on' when the 1er!ans occupied !a/or part of Italy' the word ,"ack-

was Italianized into ,"ank-.

It is' therefore' not possible to decide as to which of the opinions is correct' for no

record is available to ascertain the validity of any of the opinions. (2ractice and

0aw of "anking in 2akistan)

"anking is indicated as pri!itive as hu!an society for ever since !en ca!e to

realize the i!portance of !oney as !ediu! of exchange.

oday the word ,"ank- is used as co!prehensive ter! for a nu!ber of

institutions carrying on certain kinds of financial business. In practice the word

,"ank- !eans' this borrows !oney fro! one class of people and lends to another

class of people for interest 3 2rofit.

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1.3 TYPES OF BANKS

2ri!arily all banks gather te!porarily idle !oney for the purpose of lending to

others and invest!ents which bring gain in the for! of return' profit and

dividends etc. 4owever' due to the variety of resources of !oney and the

diversity in lending and invest!ent operations' banks have been placed in

various categories' such as co!!ercial banks. *aving "anks' Merchants "anks'

Mortgage "anks' 5onsu!er "anks' Invest!ent "ank' &evelop!ent "anks'

5ooperative "anks and 5entral "anks.

1.4 COMMERCIAL BANKS

he co!!ercial banks receive deposits fro! the general public which are

repayable on de!and upon written orders of the depositors. #s their !ost

distinctive feature the co!!ercial banks !aintain checking accounts for the

constituents.

he co!!ercial banks are also distinguished for providing short ter! finance to

trade' co!!erce and industry to enable these sectors to expand their productive

activities.


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1.5 MERCHANT BANKS

Merchant banks are those which have been !ainly financing the do!estic and

international trade in 6nited 7ingdo!. &uring the late eighteenth and early

nineteenth centuries the trade between countries was financed by bills of

exchange by well reputed !erchant houses for which they would charge a

co!!ission for their service. hus the business of accepting bills of exchange to

finance the trade developed and gradually these business houses entered into

other banking activities and beco!e known as !erchant banks.

*ince all the co!!ercial banks' in addition to other banking functions' also deal

in trade financing' the ter!- !erchant banks- has gradually faded away.

1.6 SAVING BANKS

he basic purpose of these banks is to inculcate the habit of saving in the

people. he saving bank deposits are not repayable upon only the written orders

of the depositor but the depositor or his agent has to appear personally at the

saving bank to !ake withdrawal' and for this purpose he !ust present a pass

book' a certificate of deposit or so!e si!ilar docu!ents to prove his right to

receive pay!ent. 2ost ffice *aving "anks and *aving #ccount at $ational

*aving rganization are well known operational *aving "anks in 2akistan.

1.7 MORTGAGE BANKS


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hese banks !ainly deal in loans for the acquisition or construction or real estate

against the security of !ortgages. 8uite a few such banks are operating in

developed part of the world. *aving and loans associations and far!9loan

associations are so!e of the well known for!s of the !ortgage banks.

1.8 CONSUMER BANKS

hese banks provide finance for purchasing consu!ption goods for the use of

the borrowers. 5onsu!er finance co!panies' sales finance co!panies and

credit unions are so!e of the popular for!s of consu!er banks.

1. INVESTMENT BANKS

he invest!ent banks assist business houses and the govern!ental bodies to

raise !oney through the sale of stock and bonds for usually long ter! purposes.

hese banks perfor! the usual functions of raising deposits of idle !oney fro!

the public and finance the business houses and other bodies.

1.1! DEVELOPMENT BANKS

hese banks have been established to provide long ter! develop!ent finance to

the trade' co!!erce and industry. In 2akistan they are generally govern!ent

owned banks' established under a specially pro!ulgated law. :arai araqiati

"ank 0td. and Industrial &evelop!ent "ank of 2akistan is every well9known

develop!ents bank.

1.11 COOPERATIVE BANKS

hese are the banks established and registered as a cooperative venture to

provide banking facilities to the !e!bers of the cooperative. In 2akistan' the

;ederal "ank of 5ooperatives is well known such bank.


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1.12 CENTRAL BANKS

5entral banks occupy unique position in the banking structure of a country

because they have been entrusted with the responsibility of controlling the

!oney supply' interest rates and financial !arket of the country for the purpose

of econo!ic develop!ent.

*tate "ank of 2akistan' "ank of %ngland and ;ederal Reserve "ank of 6.*.#.

are well known central banks. (2ractice and 0aw of "anking in 2akistan).

1.13 ORIGIN OF BANKING SYSTEM IN PAKISTAN

#t the ti!e of Independence' the areas which now constitute 2akistan were

producing only food grains and agricultural raw !aterial for Indo92akistan

subcontinent. here were practically no industries' and whatever raw !aterial

was produced was being exported fro! these areas. 4owever' co!!ercial

banking facilities were provided fairly well here.

he history of banking syste! in 2akistan dates back to independence of

2akistan in #ugust ?' when various banks transferred their 4ead quarters

and funds to areas likely to fall in India. his trend e!erged due to do!inate rule

of 4indus in pre partitioned Indian "anking syste!. here were @>=A branches of

Indian scheduled banks in the undivided sub9continent as on < stMarch ?' out

of which only >B? branches were located in areas presently constituting 2akistan.4owever' the nu!ber of branches of schedule banks drastically declined to B? i!!ediately after partition. #t the ti!e of partition' there were only two

banks having the honor to the first co!!ercial banks of 2akistan' na!ely 4abib


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"ank 0td' which was setup in < with its 4ead in India and #ustralia "ank 0td.'

which was established in > with its 4ead office in 2akistan. ;ollowing the

partition' an expert co!!ittee was setup and this co!!ittee reco!!ended that

the reserved bank of India being the 5entral bank of undivided India should

continue to function as 5entral "ank of 2akistan and the Indian 5urrency notes

would continue to be legal tender in 2akistan till @D th*epte!ber B.

*ubsequently it was decided to have separate central banks and the *tate "ank

of 2akistan (*"2) was setup and started functioning fro! < stEuly B. hus the

4istory of banking syste! in 2akistan started with the established of the (*"2)

was inaugurated by 8uidDe9#za! Muha!!ad #li Einnah on

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and other banks in private sector has also been encouraged. 5onsequently' a

large nu!ber of co!!ercial and other banks have co!e into operation since

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INTRODUCTION OF NIB BANK LTD

2.1 HISTORY OF NIB BANK LIMITED

$I" "ank is fastest growing financial power house in 2akistan. $I" "ank 0i!ited

was incorporated in March + GDD@ as a 2ublic 0i!ited 5o!pany. In ctober +

GDD@' all assets and liabilities and all rights and obligations of the for!er $ational

&evelop!ent 0easing 5orporation ($&05) + ne of the leading leasing co!pany

in 2akistan and 2akistan operation of I;I5 "ank of "angladesh were

a!alga!ated with and into $I" "ank 0td.

In #pril + GDD>' $I" "ank also acquired the 2akistan operations of 5redit

#gricole Indosuez.

he growth story of $I" "ank is a unique one. In a short span of four years' $I"

"ank is proudly serving nearly half a !illion custo!ers through wide distribution

footprint across !ore than AD s!all and large cities of 2akistan.

"eco!ing the ?th largest bank in 2akistan is /ust one di!ension of our growth

story. he co!!it!ent of $I" "ank-s share holder can also be gauged through

its enor!ous paid9up capital of our Rs.>D.DDD "illion' ;irst larges paid up capital

in 2akistan banking industry. 5learly these are the reasons for your confidence in

banks robustness. he !a/ority shareholder is with e!asek 4oldings of

*ingapore.

he $I" "ank 0td. acquire !a/ority share holding of 2I5I5 and full control of

25"0 in Eune GDD?. $I" "anks acquisition of 2I5I5 is one of the largest foreign

invest!ent in 2akistan banking industry and great !ilestone in local financial

sector. 2rincipal share holding of $I" "ank will continue to be with e!asek4olding Invest!ent ar! of 1overn!ent of *ingapore.

Research Monograph Muhammad Faraz Ali Khan1/

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*ince D "ranches' >CD'DDD 5usto!ers' Rs.

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#s one of the fastest growing banks in 2akistan' we would like to assure you that

there will be no interruption to the service you are currently en/oying and it will be

the sa!e friendly faces serving you. #s $I" "ank' we look forward to serving you

even better with new and enhanced products and services. Jou will have the

benefits of reaching us with ease through any of our G>D branches' in !ore than

AD cities across 2akistan. $I" "ank will provide you the benefit of transaction

ease through the ? thlargest distribution network of the country and a network of

!ore than

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co!pletion of the review' the rating assigned to $I" of long ter! # and short

ter! #< re!ain on Rating Fatch' with positive i!plications.

2.6 ORGANI#ATIONAL STRUCTURE$CORPORATEGOVERNANCE OF NIB BANK

$I" "ank 0td is !anaged by a "oard of &irectors with representation e!asek

4oldings shareholders. he "oard of &irectors' which is the highest policy

!aking body of $I"' consists of eight directors. . he "oard deals with all policy

!atters and applications involving financial assistance up to the !axi!u!

lending li!it' accordingly to $I" total net worth both in foreign and local

currencies. he "oardKs %xecutive 5o!!ittee' co!prising of eight &irectors'

deals with !atters other than those involving policy and applications for financial

assistance. he following gentle!en presently co!prise $I" "ank ltd "oard of

&irectorsN

Mr. ;rancis #ndrew Rozario

Mr. Mah!udul huq "huiyan

Mr. syed #a!ir :aidi

Mr. ho!as 2atrick *odano

Mr. an *oo $anMr. Fillie Fai 7ong 5han

Mr. 2hua 7ok 7i!

Mr. 7hawa/a Iqbal 4assan


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2.7 MANAGERIAL CHART

$I" is equipped with very strong and experienced hu!an resource structure

consisting of financial3 invest!ent analysts' !arketing experts3econo!ists'

engineers' chartered accountants' cost accountants' financial accountants and

legal experts.

$I" has traditionally been hiring individuals fro! renowned educational

institutions and professionals with rich work experience so as to have a superiorblend of experts and strategists to !anage the affairs of the 5orporation.

$ib-s staff turnover is co!paratively low which shows the co!patibility of its

co!pensation policies for holding co!petent work force according to their

professional caliber.

$I" continues to pay special e!phasis on the training of its professional staff and

avails to the !axi!u! possible extent the training opportunities offered by the

Forld "ank' #&"' #&;I#2' #&;IMI' etc. along with training progra!s available

within 2akistan.


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2.8 ORGANIZATIONAL CHART

7rganizational chart is a diagram that represents the positions 8 relationship %ithin an

organization that re$eals the company9s organizational structure###


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2. GOAL OF NIB BANK

$I"' after turning the corner' is now destined to revive its glory through

dyna!ic business activity which includesN


:resident ; roup ?eader

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%nhancing Recovery of 0oans.

Resource Mobilization for n90ending.

Revival of *ick 6nits.

ut f 5ourts *ettle!ent %ven In he 5ases 6nder 0itigation

;und Manage!ent #nd

%xpanded Merchant "anking perations.

1rowth in 0ease ;inancing.

Fith all such activities' $I" has started to earn sizable profit' and

has started to pay dividend to its shareholders $I" has ree!erged

as a viable financial super!arket. he scope of $I" financing which

was previously confined !ostly to providing long ter! foreign and

local currency assistance for setting up industrial ventures has

been further expanded to enco!pass provisions of other credit

facilities and services. 5o!!ensurate with the growing co!petitivebusiness environ!ent' through the acquisition of a co!!ercial

bank.

$I" has realized that in order to !eet the challenges of future

especially the hird Millenniu!' $I" needs to diversify fro! its

traditional role of provider of subsidized credits to sub9borrowers.


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Realizing this $I" is diversifying itself with the changing financial

and operational scenarioO it has to read/ust itself into a financial

institution which covers a wide variety of business operations. Fith

the privatization process in vogue and develop!ent of a free

!arket econo!y' the rules of business are substantially changing.

he era of subsidized credits has been substituted with real !arket

forces requiring effective and efficient ability to conduct into the new

business order. $I" is presently exploring the possibilities of new

business areas as part of its diversification plan.

2.1! PARTNER IN GLOBAL AGENDA


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#s a !e!ber of Forld co!!unity of develop!ent partners' $I" is also deeply

concerned with international agenda like %nviron!ental 2rotection. $I" is keen

in pursuing to aug!ent efforts in this direction. ;or the purpose of environ!ent

protection specially in the area of industrialization process where environ!ental

threats are !ore co!!on in the shape of air and soil pollution and threat to

hu!an health. $I" is also concerned with the increasing global realization of

quality standards. $ib-s lending policy is being further i!proved to support

industrial production process in confor!ity with the I* standards. $I" it self is

keenly interested in following a path which leads to its I* certification as a

financial institution in near future.


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NIB BANK CORE BANKIG APPLICATION MODULES

3.1 MARKETS % PAYMENT SYSTEM

Research Monograph Muhammad Faraz Ali Khan2/

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I$*I6% ;R &%P%02M%$ #$&

R%*%#R54 I $ "#$7I$1 %54$01J

P. 2. 160#I*epte!ber

-=A? MAKI.>

-=A? -=

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:roducts and ser$ices

=mergence of ne% deli$ery channels

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3.3 NIB BANK S&'()& L*+,- B&/&&+ E0*-*+A+ N&/ T&'+ P)9-

$I" "ankQ2akistan ?th9largest co!!ercial bank99values the ability to !aintainsecurity while !aking !ainfra!e data accessible across an open client3servernetwork. $I" "ank today has G>D branches in 2akistan. It takes a progressiveapproach to infor!ation technology' and has created a truly distributedclient3server environ!ent with the pen *oftware ;oundationKs &istributed5o!puting %nviron!ent (&5%) providing the secure connections.

$I" "ank was already using teleco!!unications in the

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3.4 B+,*+ +&/),


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NIB :+,banking application can be access around its G>D branches throughout 2akistan though dedicated network link (through 250 &*0 service ' Fi!axtechnology by Fateen eleco! ' 5yber network I*2 .as whole network iscentralized.

S&'()* S&);*'&-provide $I" "ank with security tighter than is possible withconventional passwords. &5% entrusts security not to the client or the server' butto a Lthird partyL99a dedicated and physically secure &5% security server. hisserver controls three security processesN

Authentication' to identify both the client and the server. his involves aco!plex process of encrypted tickets' and thus avoids the exposure ofsending passwords over the network.


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Authorization' which deter!ines whether that client has the right to accessthe resources it is requesting (the server holds access control lists).

Encryption' based on the &%* encryption algorith! that enables anorganization to choose various levels of security up to full encryption withall data encoded.

hese processes are hidden fro! users. #ll they see is a si!ple !eans ofusing one password and one userna!e to gain access to any data towhich they are entitled' anywhere on the network' without having to askfor access to individual networks and servers.

3.5 H/ NIB B+, P+- T B&+&*

5entrally9held infor!ation and data will be !ore easily available toauthorized users anywhere in the network

"ranch staff can be !ore effective through being able to accessco!!ercial infor!ation and better9quality services and facilities

ight security through a dedicated security server and unique user I&s

Infor!ation is consistent at every site because &5%Ks global file syste!holds only one logical copy of a file for the whole network

&5%Ks true open syste!s environ!ent offers the flexibility to incorporatethe bankKs existing !ulti9vendor syste!s' and add to the network asrequired in the future

#d!inistration and !anage!ent can be reduced because changes needonly be !ade once at a single point for distribution across the wholenetwork.


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Research Monograph Muhammad Faraz Ali Khan/6

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&ro'ec'!on Aga!ns' Sec%r!'( Threa's

4.1 Protecting Online Banking from Security Threats.

5 Essential Components of Online Banking Security

oday' all !a/or banks offer online baking services to their custo!ers. hey also

have taken !any steps by adding security features to the service infrastructure'

such as !easures to prevent identity theft and fraud so that online banking is a

safe and secure experience. 4owever' as !ore custo!ers depend on a reliable

online access' there are steps to take against new types of online threats. 1reat

&isasters happen' not because people run risks' but because they don-t

understand the risks.


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Ho come the Cy!er attack in "#B #T infrastructure stoppe$ !y fireallsan$ the #nternet Ser%ice Pro%i$ers

Denial of service (DoS) attacks and Distributed Denial of Service

(DDoS) attacks are very difficult to stop using firewalls because the

content is legitimate and the intent is malicious.

Most ISPs for online banks do not have adeuate tools and techniues

reuired to stop the onslaught. !hey can simply take down thenetwork " which furthers the purpose of the attackers.

Comprehensi%e Online Banking "etork Protection

&eature DDoS

M!'!ga'!on

F!re)a** Content

Base$

Security

'#PS(

)e!

*pplication

Security

'*pplication

&ireall(

F*oo+s

,S-N TC& UD& ICM& Frag/en' &or' e'c.0

Bes .o .o .o

#o'ne' A''ac$s Bes .o .o .o

So%rce Trac$!ng So%rce L!/!'!ng Bes .o .o .o

Con'!n%o%s #eha1!or Learn!ng an+ A+ap'!1e Con'ro* Bes .o .o .o

Hea+er an+ S'a'e Ano/a*!es Bes .o .o .o

&or' Scans Ne')or$ Scans Dar$ A++ress Scans Bes .o .o .o

ACLs Bes Bes .o .o

NAT .o Bes .o .o

S'a'e"%* Inspec'!on .o Bes Bes .o

S'a'e"%* S!gna'%res .o .o Bes .o

Tra""!c S!gna'%res .o .o Bes .o

Cross S!'e Scr!p'!ng &ara/e'er Man!p%*a'!on

Co//an+ Inec'!on

.o .o .o Bes

In"or/a'!on Lea$age .o .o .o Bes


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# comprehensive security plan for security includes both network security and application securityplan.

4.+ *rchitecture of "#B B*", Secure Online Banking "etork

Research Monograph Muhammad Faraz Ali Khan//

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S

RESEARCH METHODOLOGY

he goal of the research process is to produce new knowledge' which takes

three !ain for!s

%xploratory research' which structures and identifies new proble!s 5onstructive research' which develops solutions to a proble! %!pirical research' which tests the feasibility of a solution using e!pirical

evidence

Research can also fall into two distinct typesN

2ri!ary research *econdary research

In social sciences and later in other disciplines' the following two research!ethods can be applied' depending on the properties of the sub/ect !atter and

on the ob/ective of the researchN

8ualitative research 8uantitative research

Research is often conducted using the hourglass !odel *tructure of Research.he hourglass !odel starts with a broad spectru! for research' focusing in onthe required infor!ation through the !ethodology of the pro/ect (like the neck ofthe hourglass)' then expands the research in the for! of discussion and results.

E0

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%xploratory research is a type of researchconducted because a proble! has not

been clearly defined. %xploratory research helps deter!ine the best research

design' data collection !ethod and selection of sub/ects.

&uring this research pro/ect report on $I"' I have used E0

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LIMITATIONS

&uring this research the following difficulties have been experienced by the

internee.

T*9& L*9**+- he !ain proble! faced by the internee during this

study was ti!e li!itation. &ue to shortage of ti!e on the part of the study

and officials of the bank' very few !eetings and visits have been

!anaged.

S&')&' & D

#nother !a/or proble! faced was the secrecy of data. "ecause of that'

he I security breach and $I" I security policy. 4ence the availability of data is

very !uch li!ited.

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CONCLUSIONS 3 SUSSESTIONS

C+'(-*+-

Today !an"s ha$e to loo" much !eyond )ust pro$iding a multi,channel ser$ice platformfor its customers# There are other pressing issues that !an"s need to address in order to

chal",out a roadmap for the future# +ere are some of the concerns in the mind of e$ery

!an"Es i$en the $arious options& it isno% possi!le to open a ne% account %ithin minutes# 7r for that matter shift

accounts %ithin a couple of hours# This ma"es it imperati$e that !an"s pro$ide

!est le$els of ser$ice to ensure customer satisfaction#

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payment systems are exploited fraudulently# Millions of Rupees is lost to plastic

card fraud e$ery year# This is simply !ecause the cards are not secure enough#

$ank I! and Security staff need to fully understand the

organi%ation&s risks and vulnerabilities. 'nowing the drivers for

change both the eternal * internal influences. !hey mustdevelop a corporate risk profile. Implement a strong +overnance

and ,ontrols infrastructure. Monitor and maintain the security

and risk profile to meet new challenges.

-eputation risk associated with Denial of Service attacks can

impact public opinion that results in a critical loss of funding or

customers.

SUGGESTIONS

In recommendation the !an"ing industry need to !etter apply IT to impro$e its

operations& customer ser$ices and products# an"s should de$ote more resources tode$elopment of secure IT systems& ser$ices and products# Also& the future impact

outsourcing IT re*uirements should !e thoroughly e$aluated& the long term effect may !e

$ery expensi$e#

A.#doption of %ffective technology

It is suggested that responsible steps should be taken to insure I security

frauds.

B. Eob raining 2rogra!s

$ib needs to provide its e!ployees with classroo! training. It needs to

have its own training institution in 2akistan' as it is a leading bank. *uch

institution can provide training opportunity to other local banks e!ployees

too.

C. 2erquisites and #llowances


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he nu!ber of allowances and perquisites for the e!ployees should be

increased to ensure that they put their body and soul in the /obs assigned

to the!.

D. 2er!anent 4iring

he fresh hiring should be !ade per!anent so that they are secured of

their future. ;urther the allowances and perquisites attached with the

per!anent /obs will also increase the !otivation level of the e!ployees.

REFERENCES

1. ///.H/-(/),-.'9

2. ///.-:

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55. ")**+ U+*;&)-* (*& ) -(&+-4( & Cre/e MR Lea 6 277

http://oro.open.ac.uk/727/http://oro.open.ac.uk/727/

it nib

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