Familiarity with the types of bank accounts and their uses

The banking system plays an important role in managing financial resources and facilitating economic transactions (Madura, ۲۰۲۱). Types of bank accounts, including current accounts, savings accounts, term deposits, Qard-ol-Hasanah accounts, and foreign exchange accounts, are designed to meet the different needs of individuals and businesses (Rose & Hudgins, ۲۰۱۳; Central Bank of Iran, ۲۰۱۹). Current accounts are suitable for everyday affairs and common transactions, but they do not provide interest (Mishkin & Eakins, ۲۰۱۸). Savings accounts and term deposits are used for short-term and long-term financial goals, respectively, and have different profitability (Madura, ۲۰۲۱; Hassas-Yeganeh, ۲۰۱۶). Qard-ol-Hasanah accounts have a supportive and social role and reduce the financial pressure of households by providing lowinterest or interest-free loans (Rose & Hudgins, ۲۰۱۳; Moussavian, ۲۰۱۳). Foreign exchange accounts are used to manage the risk of currency fluctuations and International activities are important (Mishkin & Eakins, ۲۰۱۸). The results show that no single account meets all needs and that combining accounts is the best method of financial management and future planning (Madura, ۲۰۲۱; OECD, ۲۰۱۶; Central Bank of Iran, ۲۰۱۹).

کلیدواژه ها:

Banking system ، account combination ، financial resources management