banking

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banking

the business of receiving deposits from the public or via the financial markets, with the object of on-lending at a higher rate of interest. Sums deposited by customers with bankers become the property of the bank, over which the customer has no further control. In return, the customer obtains a personal right to repayment of the sum deposited on demand. The banker owes a number of duties to his customer, including the duty to encash cheques drawn on the account while in credit or within agreed overdraft limits and the duty to maintain confidentiality. To carry on the business of banking in the UK, authorization is required from the BANK OF ENGLAND. There is a banking code governing the relationship of banker and customer and a Banking Ombudsman to deal with disputes.
References in periodicals archive ?
Seyed Reza Seyed at el examined about the acceptance of the Islamic banking and financial services.
Patrick Iman at el examined the relationship between Islamic banking system and economic growth and found that there is a strong relationship between these two variables exists.
Ching Wing Lo at el examined that Islamic banking is not yet grown with that much pace in Malaysia as compare to conventional banking system.
The results showed that the Muslim account holders of conventional banks are more likely to adapt Islamic banking system.
Sameer Ahmed Mastoor at el examined that there is no concept of loans in Islam but Islamic banking is growing with a good pace and Maiwand Bank has done a research on awareness about Islamic Banking system in Afghanistan via questionnaire survey of sample size 25 and found that Maiwand bank should replace some employees.
Sirajuddin Chougle examined that there is a need of Islamic banking system in India as well.
Mohammad Nouman Hussain Chowdhury at el examined that Islamic banking is based on giving loans investment without any interest which leads to the welfare of the society.
The results showed that the respondents generally know about Islamic banking which is based on Profit and Loss sharing.
Kareem Muritala Kewuyemi at el examined the support of various targeted groups towards Islamic banking in Nigeria.
Mark Loo at el examined that Islamic banking is not that much popular in the Western side.
200 people including Muslims and non-Muslims were interviewed about their perception towards the Islamic banking system.
So it is very much right to say that attempts are been made to change their attitudes towards Islamic banking system.