what About Bank ?
The bank is a financial institution that provides a variety of financial services, especially lending, savings, and payments. It also offers a wide range of financial services necessary for any business entity.
The primary function of traditional banks lies in financing individuals for consumer purposes or financing companies for investment needs, in exchange for interest determined by competition among banks to attract customers. These funds originate from deposits made by individuals and companies in exchange for a specified interest rate, a rate also influenced by the competition among banks to attract a larger number of depositors and meet the liquidity needs required by the bank. Here, there is a separation between the bank's funds, depositors, lenders, and everyone bears their own risks.
As for Islamic banks, they engage in Islamic banking, referring to the system or banking activity that is in compliance with Islamic Sharia law.
