What is a Bank?

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How Should a Bank Operate?

A just bank should serve two legitimate functions: securing deposits and enabling customers to invest in profitable ventures through transparent, voluntary arrangements. These roles must remain distinct to ensure the integrity of the financial system and protect depositors from exploitation.

The Role of a Bank: Security of Deposits
A bank’s primary function is the safekeeping of deposits. Customers entrust their money or assets (e.g., gold, silver, or other tangible property) to the bank, which acts as a secure custodian. For this service, the bank charges a fee, much like a storage facility charges for space. The deposits are not to be used for speculative purposes, investments, or loans. They remain wholly under the ownership and control of the depositor.

Banks may also provide services like payment facilitation, currency exchange, and other forms of financial convenience, but these services are operationally distinct from investments or lending.

Furthermore, individuals or institutions may purchase shares in a bank itself, allowing the bank to raise capital for its operational expenses or growth. However, the bank cannot use depositor funds to buy these shares or to speculate in other investments. This ensures the bank’s primary responsibility remains securing deposits.


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