Banks are financial institutions that provide various services to customers, such as deposit, withdrawal, transfer, financing, investment, insurance, etc. Banks play an important role in the economy, facilitating circulation, trade, production and consumption. Banks are subject to supervision and regulation by competent authorities, such as the Central Bank or the Financial Supervision Authority, to ensure the safety and stability of the banking system.
Types of banks
There are several types of banks, which differ according to the nature of their activities, size and customers. Among the most prominent types of banks:
Commercial banks:
are banks that provide general banking services to individuals and companies, such as opening accounts, issuing checks and cards, and conducting local and international transactions. Commercial banks also provide short and medium-term loans to finance various projects and activities. Some examples of commercial banks are: [HSBC], [Citi], [Standard Chartered], [Bank of America], [Chase], [Barclays], [Deutsche Bank], [BNP Paribas], [Santander], [ICBC]. ], [ABC], [CCB], [NBD], [SABB], [NBK], [QNB], [Al Rajhi Bank], [Kuwait Finance House], [Emirates NBD], [Mashreq
Islamic banks:
- are banks that operate in accordance with the provisions of Islamic Sharia in all their banking operations. Islamic banks are forbidden from using or accruing any type of interest (usury), speculation (gharar), risk-taking (maysir), or tawarruq (cheating). Instead, Islamic banks use alternative mechanisms to generate profit and share it with customers, such as musharakah (mudarabah and musharaka), tawarruq (banking, salam, ijarah, and istisna), or donation (zakat, alms, and qard al-hassan). Some examples of Islamic banks are: [Meezan Bank], [Dubai Islamic Bank], [Al Baraka Bank], [Kuwait Finance House], [Bank Islam Malaysia], [Maybank Islamic], [Bank Muamalat Indonesia], [Bank Syariah Mandiri], [Islamic Bank of Britain], [Boubyan Bank
investment banks:
- They are banks that provide specialized banking services to companies, large institutions, and governments, such as arranging and managing public and private offerings, mergers and acquisitions, restructuring, and trading in securities, derivatives, currencies, and commodities. Investment banks also provide financial and strategic advice to clients. Some examples of investment banks are: [Goldman Sachs], [Morgan Stanley], [J.P. Morgan], [Credit Suisse], [UBS], [Merrill Lynch], [Lehman Brothers], [Bear Stearns], [Lazard], [Rothschild].
Other types of banks: There are other types of banks that serve specific categories of customers or provide limited or specialized services. Of these types:
- Cooperative Banks: They are banks belonging to cooperative societies that include members who share the same field, profession or interest. These banks aim to provide services
