Currentaccount allows for deposited and withdrawal of funds and cheques being writtenagainst the balance at any time. In Islamic Banking, current account is based an Islamic principle (Wadiah) whichcomply with Shariah principle.

An attachment of the letter of “i” at the end ofthe product name such as “current account-i” reflects the productsShariah-compliancy, and that its services are in line with the decision ofIslamic scholars prohibited riba-taking activities.  CIMB Bank had introduced varioustypes of current account for personal and business banking. Both CIMB and CIMBIslamic had offered same products for current accounts which are CIMB PreferredAccount/CIMB Preferred Account-i, Basic Current Account/Basic Current Account-i,Senior Basic Current Account/ Senior Basic Current Account-I and ForeignCurrency Current Account/ Foreign Currency Current Account-i. While forbusiness banking, both of them offered same for Online Business Current Account/, Online Business Current Account-i, andForeign Currency Current Account/ Foreign Currency Current Account-i. (Current Accounts, 2018) CIMB bank personal banking’s current account providedothers services than CIMB Islamic such as Prime Account, Regular CurrentAccount and Conventional Current Account. Prime account can boost customer’s wealthwith interest rate given and benefits with monthly bonus points. It is only eligible for existing CIMBPrime customers or sign up to be new customers with minimum RM50,000 in anydeposits.

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Regular current account comes up with cheque book and debitcard facilities and overdraft facility is available. Conventional Current accountalso entitled to use overdraft and with a minimum initial deposit ofRM1,000 customer will receive a cheque book.In the other hands, CIMB IslamicBank differentiate its products by offered Current account-i(business banking) andWadiah Current Account-i(personal banking). Current account-i is only eligibleto all business enterprise and corporations .It provided free, unlimited OTC transactionsand principal deposit is guaranteed but it require customers to maintain a minimum balance of RM 10 inaccount at all times.

Next, CIMB Islamic introduced Wadiah CurrentAccount-i which eligible to individuals, firms, societies and clubs. Principaldeposit is guaranteed and with features cheque book facility, debit card andATM withdrawals up to RM5000. (Current Accounts-i, 2018)CIMBIslamic current account-i subsequent deposited on Shariah principle of Wadiah Yad Dhamanah (applicable for all other Current Account-i products),Tawarruq vis-à-vis Commodity Murabahah(“Commodity Murabahah”) applicable for CURRENT ACCOUNT-i PLUS product onlyand Qard (applicable for SeniorBasic Current Account-i only) .The Bank may at its absolutediscretion give reward (Hibah) to the account holder who maintained CurrentAccount-i under Wadiah Yad Dhamanah or Qard principle. (Terms and Conditions Current Account-i, 2017)