Compare customer deposits between Islamic and conventional bank: in case of Malaysia

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Keywords:

Customer Deposits, Islamic Banks, Conventional Banks

Abstract

Back from the era of prophets till now, there is a huge emphasis on savings. Saving keeps one safe from rainy days so it’s economically as well as religiously emphasized. Initially there were various ways used by people for saving their money but now along with them distinct methods, one is to depositing your money in banks which is a safest way possible. Generally, we know that banks who works on Islamic principles avoid and restrict interests than those who purely works on interests i.e. conventional banks. Islamic banks work on sharing, sharing of profit, loss and risks too. Hence it is obvious that both Islamic and conventional banks have their own way of working and thus dealing with customer deposits.

Author Biography

Faiqa Qamar, Sukkur IBA University

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Published

2022-05-28

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Section

Articles