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yes it seems right the above statement
There is no doubt that this statement is true
Bank always interested in profit
And looking for a rich client to minimize risks
And to take advantage of his money
While not pay any attention to the poor to give him a loan unexpected loss
Yes it is true in corporate banking. Also here the more money u have the more respect that u get. The situation can only change if cooperative banking ,(Islamic banking - benifits should go to all communities in a country like india ) and institutions like Grameen Bank in Bangladesh become more popular to look after the interests of the common man.
Banks are no different than any other profit making company. they work on interest basis and that is where they run their bread and butter. The basics of any banking is to deposit money on lower rates of interest and lend it on higher rate of interest. this difference is their earning. Said that they also invest the deposited money in market with very wise foresightedness. If you see through the economy lenses, banking runs the country's economy, if you see through communist point of view then they only vandalizing the poor or lower segment peoples' interest, if you see through the glass of a higher segment of society then they act as a facilitators. so its the way you think or see the banking process. to some extent, yes they do work majorly for richer section of society as because these banks are run and controlled by them only. but they do have to make there presence worthy in the society so they work for poorer sections also, or at least keep the show on the run. What so ever, banking is something which every country and economy needs to develop in present time.
That's exactly whats happening.
in Islamic perspective, Interest is prohibited because that makes rich to be more richer and poor to be more poorer. but on the contrary i feel Islamic banking failed to implement the culture and who purpose of prohibition of interest
yes....you are absolutely right. Banks are institutions which give you umbrella when it is shining and get it back when there is rain.
Actually they are many poor are transformed into middle class and they have at least min. necessary things. But where banks fail and rich wins is the point when our currency devalues. if the currency devalues then only many countries progress. Hope coins in circulation wont be minted in clay due to its devaluation.
Banks are a blessing for those who want to expand. A bit of luck and supporting documents, is all it takes in most cases. It is up to the individual how the facility of Bank is utilized, considering it is a business organization operating within its procedures.
