رموہجۺاکنبر ۺی ۺںیم ۺ وسدۺاورۺاسۺےکۺدتارکۺیک ج د ۺی دوصرں Interest/ Usury in the Present Banking System and modern Forms of Its Remedy Section Articles

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Hafiz Naeem Hafeez

Abstract

The significance of banks cannot be denied in the contemporary
world. They have, in fact, become the pivot of the national and
international economic system. Almost all the financial transactions
are being made through banks. In this way, banks have gotten
worldwide public faith and credibility.This research article aims at
defining the term Bank and its importance in a simple way. It also
gives a brief history of the evolution of banks. Besides, it gives a
little bit detailed account of various types of banks and
differentiates their nature as well. A peculiar characteristic of the
research article is that it not only elaborates different duties and
activities of banks but also successfully narrates the financial
procedure of various banks. At the end of the article, different
sort of bank accounts have been discussed in a comprehensive way.

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