Have you ever thought about banks ?
They keep your money on in their record and they give you back whenever you need it. With ATM, you can take out your money anywhere in the world. And you pay for it, they charge you some service charges.
There are many schemes and one of the oldest is fixed deposit scheme. Here you deposit some amount and you do not take out those money for certain period and banks pay you interest.
Don’t you think whole banking system is interesting ? They accumulate money from every people, they do not have any money on their own! But they keep growing and as they keep gathering, accumulating money from all.
They are so smart, they give out our money to us, on higher interest. There are Islamic banks which do not charge interest for lending, I heard! Don’t we think Islamic banks are much better ?
So what happens if everyone takes out their money ? How banks will pay to all ?
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