Current Accounts represent deposits which are repayable on demand and without notice of intended withdrawal through issuance of checks. This account is otherwise known as demand or checking account.
The Bank accepts this type of deposit account from customers who place such deposits for safe-keeping but usually with transaction motives under the principle of Wadiah (SafeCustody). The Bank undertakes to return the deposit intact as when the customers demand. In return, it obtains the customer’s permission to make use of the funds at its own discretion without having to share the profit with them.