There are various Islamic banking institutions offering deposit services. As a customer, what are the 3...
There are various Islamic banking institutions offering deposit services. As a customer, what are the 3 factors influencing your choices of a suitable banking institution for saving deposits?
Homework Answers
Answer:
The three factors influencing decision regarding selection of banking institution for saving deposits are:
i)Quality of service:It refers to treatment of customers and resolution of their problem with their accounts maintained with the bank.The banking instituition with great quality service is preferred over other banking institution.
ii)Transparency of banks:It refers to disclosure regarding each and every charges against maintenance and transaction of account.It is important factor t decide banking institution as you can two banks on the basis of benefit and cost only.
iii)Family's recommendation:Any person before selecction of baking institution take recommendation of family.If he is satisfied with the recommendation then he/she will go with the same.However family's recommendation is also based on above two factors and their experience.
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