Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter12: Money, Banking And The Financial System
Section: Chapter Questions
Problem 16QP
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Question
what is the different between islamic banking practices compared to conventional banking practices
Expert Solution
Step 1
Bank:
The bank is a financial institution that accepts deposits from the people and payable on demand. It also serves other banking services like currency exchange, safe deposit box, wealth management, etc.
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