Documente Academic
Documente Profesional
Documente Cultură
Group Members:
Name: Hassaan Javaid
Roll #: DDP/SP11-BCS-023 FA10-097
Rahman Muzafar
DDP/SP11-BCS-023
Adil Majeed
SDP/-BCS-
Introduction
Online or virtual banking is one of the greatest conveniences of the 21st century. Rather than writing checks to pay bills, you just need to go to a website or your bank's bill payment program, and the money is transferred directly from your account to the person you owe. Virtual banking also allows you to have your checks deposited electronically by your employer, and allows you to see an up-to-date statement of your financial position in real time. The most prominent feature of our system is that we are going to include is Islamic banking that all the transactions and the activities performed will be in accordance with Islamic law and Other Islamic principles in making deals, transactions and providing services and products like Bai salma, Hiba, Istisna, Ijrah, Musharkah, Qarzul Hassan, sakuk and takaful, will also be taken into account.Other most important benefit of online or virtual Banking is it never closes down as a physical bank branch does and it will provide all the functionalities of a bank on a single platform. Furthermore, this project will establish an interactive and user friendly web application to support the account holder in transactional and non-transactional activities that a bank provides in an Islamic way
An account holder can perform non-transactional tasks through online banking such as
Funds transfers between the customer's linked accounts Paying third parties, including bill payments Investment purchase or sale Loan applications and transactions Transaction approval process