Benefiting from Revenues of Investing the Inactive Bank Accounts in the Development & Social Investment: A Jurisprudence Study
Keywords:
Inactive bank accounts – banks – investment – revenues – guarantee – missing individual.Abstract
This paper explores the idea of gains made by public authorities, such as the General Authority of Custody, on Funds of the Underage, and similar categories of people from the inactive bank accounts by investing them for part of the investment revenues. After examining this case in the field of banking novelty, these bank accounts have been defined as: accounts available in the banks which are not used by their owners, no money withdrawal or deposit within a legally specified duration. The paper concluded that it is permissible to take this action at banks with some restrictions that aim to preserve the assets of these accounts and provide sufficient guarantees to make this idea effective and to avoid any probable consequences.
