General Banking Activities of Al-Arafah Islami Bank Limited

Abstract

The word ‘Bank’ was probably derived from the word ‘bench’ as during ancient time Jews used to do money lending business sitting on long benches. Even though banks do many things, their prime role is to take in funds—called deposits—from those with money, pool them, and lend them to those who need funds. Banks are intermediaries between depositors (who lend money to the bank) and borrowers (to whom the bank lends money). To know about banking deeply it is necessary to know the roots of it which is general banking. One should know about general banking before knowing about the other aspects of banking as it will make his or her core knowledge strong which will be helpful for him or her to understand the other aspects more clearly. In this report the general banking activities of Al-Arafah Islami Bank Limited is described precisely.