Depositors can be two kinds, Current Account and Saving Account holders.
In the Current Account, the depositors want the bank to protect their
savings for a short-time. The bank can accept such deposit (money) on
Qarz basis. The bank will be bound to repay these funds when demanded
by the depositors. In the saving Account, the people want to invest their
saving through banks. The bank can accept such deposits on the basis of
Mushaarakah or Mudaarabah. For this purpose, the bank draws up contracts
specifying the conditions regarding the mode of investment, distribution
of profit/loss of investment, etc.
Such contracts become enforceable when both parties agree to it.
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