Some Viewpoints of Islamic Banking Retail Deposit Products in Malaysia

Hanudin Amin ()
Additional contact information
Hanudin Amin: Labuan School of International Business and Finance, Universiti Malaysia Sabah – Labuan International Campus, Jalan Sungai Pagar, 87000 Labuan Federal Territory, Malaysia

Journal of Internet Banking and Commerce, 2013, vol. 18, issue 2, 01-13

Abstract: This paper attempts to provide an understanding with respect to Islamic deposit facilities in Malaysia. Our illuminations are centered on current accounts, savings accounts and investment accounts. A brief note on negotiable Islamic certificates of deposit (NICD) is also provided. These deposit products are explained in terms of their definitions, features and return calculations. On the same note, some discrepancies between deposit facilities offered by Islamic and conventional banks are exposed. The purpose of such expositions is to provide novice readers a basic but profound explanation concerning the differences between the two categories of deposit facilities. A note on Malaysia Deposit Insurance Corporation (MDIC) is also offered. Importantly, this paper at least provides useful information to create positive understanding amongst novice readers relating to the distinct concepts of Islamic and conventional deposit facilities. This paper is of importance to exemplify why the two deposit facilities are distinct. Limitations and future works in this area are provided.

Keywords: Wadiah; Mudarabah; Depositor; Islamic banking institutions; Malaysia; Qualitative; Islam; Comparative (search for similar items in EconPapers)
JEL-codes: A11 (search for similar items in EconPapers)
Date: 2013
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ris:joibac:0300

Access Statistics for this article

Journal of Internet Banking and Commerce is currently edited by Vijaya Lakshmi, Nahum Goldmann and Dale Pinto

More articles in Journal of Internet Banking and Commerce
Bibliographic data for series maintained by Dale Pinto ().