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[44] [46] Current account deposits are regarded as trusts or safe-keeping and offer the depositors safety of their money against the bank's guarantee to return their funds on demand. [57] [46] (A current account the customer earns no return, but sources do not agree over whether the bank is allowed to invest the account funds. [58]
Meezan Bank was founded as an Islamic investment bank in 1997 by Noor Financial, Pak Kuwait Investment Company, and Islamic Development Bank. [5] It was then known as Al-Meezan Investment Bank. [6] In 2000, Meezan Bank was listed on the Karachi Stock Exchange. [7] In 2002, Meezan Bank acquired Pakistan operations of Société Générale. [8]
The difference between the two prices is the income of the bank for its trouble administering the card. The customer's initial payment to the bank serves as the account balance for the credit card and ceiling limit of what can be spent. The bank's repayment to the customer constitutes whatever balance is left over after purchases.) [395]
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CASA ratio stands for current and savings account ratio. CASA ratio of a bank is the ratio of deposits in current, and saving accounts to total deposits. A higher CASA ratio indicates a lower cost of funds, because banks do not usually give any interests on current account deposits and the interest on saving accounts is usually very low 3–4%. [1]
Reverse sweep (sweep-out): In case of insufficient funds in a savings account to honour any debit instruction (e.g., when the customer wants to withdraw money through cheque or through an ATM), the balance in the FD to the extent needed to meet the shortfall is automatically withdrawn in multiples of ₹1000 (or any other amount set by the bank).
The new 12-team College Football Playoff is about to begin, and the journey to crown the national champion starts now.
U.S. President-elect Donald Trump on Saturday demanded that BRICS member countries commit to not creating a new currency or supporting another currency that would replace the United States dollar ...