Rafed English

Current Account

2871, A person is entitled to withdraw from a bank an amount equivalent to that which he deposited in the bank. However, at times it so happens that a person can withdraw an amount from the bank although he may have no money in the bank. Hence, if the bank relying on the person, advances him money, in spite of his having no account in the bank, and takes profit on it, it will be interest bearing loan, which is unlawful. However this transaction can also be given a lawful form in accordance with what has been explained above with regard to banks.

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