The legal position of the banking client (A comparative study)

Abstract

  Summary:

            Banks play an important role in reviving the national economy, by collecting the public’s savings from their clients and directing them towards various investments. There is no doubt that banking services at the present time have become diversified and are no longer limited to traditional banking operations represented by deposits, transfers, or opening credits. Rather, it carries out more complex operations for the benefit of customers, and the more sophisticated and complex the banking operations are, the more this is reflected in determining the customer’s legal status in these businesses, especially since banking dealing is no longer limited to merchants, but rather has become an urgent necessity even for the average person who is not professional in commercial activity and carries out banking work. Occasional and temporary, and despite the lack of clarity about the banking customer’s idea at the jurisprudential and legislative levels, what is indisputable is that the legal basis of the relationship between the bank and the customer lies in a compensation contract whose subject is the banking transaction and imposes mutual obligations on both parties.