Deposit Contract Research Articles

Demand Deposit Contracts and Probability of Bank Runs in Nigeria

The problem of bank runs is a global phenomenon and often damaging to the banking systems both in developed and developing countries. Monetary authorities always find it very difficult to resolve such a crisis; hence, it became imperative to examine this scenario in the case of Nigeria. Therefore, we examined the effect of demand deposit contracts on the probability of bank runs in Nigeria. This is considered a major contribution to the literature on finance from the perspective of an emerging market economy (EME). In this study, a multilevel Tobit regression approach was employed. This study identified statistically significant and positive effects of liquid assets (total assets) and total loans (total deposits) on bank runs in Nigeria. Based on the results, the study concluded that bank-specific factors have an effect on bank runs, and from these variables, liquid assets/total assets and total loans/total deposits have significant effects on bank runs. As a sequel to the findings and conclusion of this study, it was recommended that to avoid such a banking crisis, there is a need for deposit money banks in Nigeria to maintain adequate liquid assets and ameliorate the high level of deterioration in the quality of risk assets as well as the cost of funds.

Financial intermediation and efficient risk sharing in two-period lived OLG models

This article investigates a two-period lived overlapping-generations (OLG) model that incorporates financial intermediation. A risk-neutral bank offers loan and deposit contracts that insure risk-averse agents against idiosyncratic income shocks. Agents prefer financial intermediation to capital markets if it provides efficient risk sharing. The analysis demonstrates that in any two-period lived OLG model in which productive capital is increasing in investment levels, financial intermediation, when implemented for the purpose of efficient risk sharing, cannot instigate business cycles or complex dynamics. The resulting dynamics is monotonic and qualitatively indistinguishable from the dynamics of the classical OLG model by Diamond (Am Econ Rev 55(5):1126–1150, 1965). Business cycles may only occur if banks offer inefficient contracts. Efficient contracts will, in general, not induce dynamically efficient growth paths.

Bank bailouts: Moral hazard and commitment

This paper investigates moral hazard from bank bailouts and its welfare implications. The traditional channel of moral hazard in existing literature arises from banks offering excessively attractive deposit contracts that lead to inefficiently large bailouts when there is a run. This paper introduces a new, second channel of moral hazard: bailouts discourage banks from offering deposit contracts that deter panic-based runs. It also identifies when the second channel is active, and decomposes the welfare losses contributed by the two channels. Whenever the second channel is active, commitment on the bailout policy alone is unable to fully eliminate the welfare loss from moral hazard. Alternative regulations such as controlling short-term interest rates offered by banks are necessary to achieve efficiency. Additionally, the second channel can cause welfare to be increasing with the probability of bank runs. The increased run probability helps encourage banks to offer run-proof contracts, easing the necessary effort from the fiscal authority to intervene.

Use of Hajj Funds for Infrastructure Development: A Review of Deposit Contract and Use of Hajj Funds

Objective: This study aims to determine the use of the pilgrimage fund deposit contract that has been done and to know the use of the pilgrimage fund for infrastructure development that should (study of the deposit contract and the use of pilgrimage funds). With the focus of research on the pilgrimage fund and the use of hajj funds in view of Islamic economic law that will be used to finance infrastructure development. Methods: This research is a qualitative research. This type of research is normative legal research. The approach in this research is analytical descriptive, revealing the statutory regulations regarding the hajj pilgrimage contract and the use of hajj funds in terms of sharia law, the 1945 Constitution of the Republic of Indonesia and the laws of the Republic of Indonesia. Legal materials are collected using a documentation system. Data collection used in the form of library research and study documents. Results: The results of the study show: First, the contractual time that exists between prospective pilgrims and BPKH as the Hajj financial manager must meet the requirements of the contract, that is, there must be consent or offer (ijab) and an acceptance (kabul). The Hanafi scholars require the consent and Kabul in each contract while the scholars from Maliki, Syafi'i and Hanbali in addition to requiring consent/offer and acceptence in each contract also requires that the parties in contract (muwakkil) the party giving the power of attorney and (wakiil) representatives of the recipient must at least less mumayyiz and ingenious, and the object or the goods of the contract must be something that is lawful according to syara. Secondly, with a wakalah agreement in accordance with syara ', the existing hajj funds can be used by BPKH as the hajj pilgrims representatives to manage the funds that have been deposited and entrusted. Suggestions: BPKH (Hajj Financial Management Agency) needs to make improvements to the wakalah contract between prospective pilgrims for Hajj fund deposits with BPKH who meet the requirements for consent and qabul by creating a new standard form that accommodates clear and clear consent and qabul from the candidate. pilgrims and BPKH.

Less stick more carrot? Increasing the uptake of deposit contract financial incentives for physical activity: A randomized controlled trial

BackgroundFinancial incentives are a promising tool to help people increase their physical activity, but they are expensive to provide. Deposit contracts are a type of financial incentive in which participants pledge their own money. However, low uptake is a crucial obstacle to the large-scale implementation of deposit contracts. Therefore, we investigated whether (1) matching the deposit 1:1 (doubling what is deposited) and (2) allowing for customizable deposit amounts increased the uptake and short term effectiveness of a deposit contract for physical activity. MethodsIn this randomized controlled trial, 137 healthy students (age M = 21.6 years) downloaded a smartphone app that provided them with a tailored step goal and then randomized them to one of four experimental conditions. The deposit contract required either a €10 fixed deposit or a customizable deposit with any amount between €1 and €20 upfront. Furthermore, the deposit was either not matched or 1:1 matched (doubled) with a reward provided by the experiment. During 20 intervention days, daily feedback on goal progress and incentive earnings was provided by the app. We investigated effects on the uptake (measured as agreeing to participate and paying the deposit) and effectiveness of behavioral adoption (measured as participant days goal achieved). FindingsOverall, the uptake of deposit contracts was 83.2%, and participants (n = 113) achieved 14.9 out of 20 daily step goals. A binary logistic regression showed that uptake odds were 4.08 times higher when a deposit was matched (p = .010) compared to when it was not matched. Furthermore, uptake odds were 3.53 times higher when a deposit was customizable (p = .022) compared to when it was fixed. Two-way ANCOVA showed that matching (p = .752) and customization (p = .143) did not impact intervention effectiveness. However, we did find a marginally significant interaction effect of deposit matching X deposit customization (p = .063, ηp2 = 0.032). Customization decreased effectiveness when deposits were not matched (p = .033, ηp2 = 0.089), but had no effect when deposits were matched (p = .776, ηp2 = 0.001). ConclusionsWe provide the first experimental evidence that both matching and customization increase the uptake of a deposit contract for physical activity. We recommend considering both matching and customization to overcome lack of uptake, with a preference for customization since matching a deposit imposes significant additional costs. However, since we found indications that customizable deposits might reduce effectiveness (when the deposits are not matched), we urge for more research on the effectiveness of customizable deposit contracts. Finally, future research should investigate which participant characteristics are predictive of deposit contract uptake and effectiveness. Pre-registrationOSF Registries, https://osf.io/cgq48.

Cardiovascular disease patients’ views on using financial incentives for health behavior change: Are deposit contracts acceptable?

BackgroundThere is an urgent need to find new approaches that improve long-term adherence to a healthy lifestyle for people with cardiovascular disease (CVD). Deposit contracts (a financial incentive in which the participant deposits own money) are inexpensive and effective, but acceptability among CVD patients is unclear. This study investigated the acceptability of a deposit contract intervention for physical activity among CVD patients. MethodsWe approached CVD patients through the Harteraad patient panel of the Dutch CVD patient organization and asked them to fill in an online survey. In total (N = 659) CVD patients with a mean age of 66.2 years completed the survey. The survey assessed acceptability of deposit contracts, responses to a concrete example of a deposit contract for physical activity behavior change, and suitable moments for implementation. ResultsOverall, half of the participants (45.6%) confirmed needing extra commitment to maintain lifestyle change. Yet, a small part of the sample was convinced by the idea that losing money could be motivating (18.8%) and indicated that they would be willing to deposit money themselves (13.2%). Responding to a concrete example of a deposit contract for physical activity, a quarter of the sample (26.2%) reported there was a chance they would participate. Furthermore, 27.1% of the participants found the deposit contract effective and 27.4% found it acceptable. Exploratory analyses showed that a subgroup of younger and lower educated participants responded more favorably. Opinions on when to start with a deposit contract were mixed. ConclusionsBecause acceptability was generally found to be low, future research should also investigate strategies to leverage commitment principles for CVD patients without a cash deposit requirement. When deposit contracts are offered to CVD patients in practice, we recommend offering them as an optional, additional element to existing interventions that patients can opt-in to.

Put your money where your feet are: The real-world effects of StepBet gamified deposit contracts for physical activity

BackgroundGamification and deposit contracts (a financial incentive in which participants pledge their own money) can enhance effectiveness of mobile behavior change interventions. However, to assess their potential for improving population health, research should investigate implementation of gamified deposit contracts outside the research setting. Therefore, we analyzed data from StepBet, a smartphone application originally developed by WayBetter, Inc. ObjectiveTo perform a naturalistic evaluation of StepBet gamified deposit contracts, for whom they work best, and under which conditions they are most effective to help increase physical activity. MethodsWayBetter provided data of StepBet participants that participated in a stepcount challenge between 2015 and 2020 (N = 72,974). StepBet challenges were offered on the StepBet smartphone application. The modal challenge consisted of a $40 deposit made prior to a 6-week challenge period during which participants needed to reach daily and weekly step goals in order to regain their deposit. Participants who met their goals also received additional earnings which were paid out from the money lost by those who failed their challenge. Challenge step goals were tailored on a 90-day historic step count retrieval that was also used as the baseline comparison for this study. Primary outcomes were increase in step count (continuous) and challenge success (dichotomous). ResultsOverall, average daily step counts increased by 31.2 % (2423 steps, SD = 3462) from 7774 steps (SD = 3112) at baseline to 10,197 steps (SD = 4162) during the challenge. The average challenge success rate was 73 %. Those who succeeded in their challenge (n = 53,281) increased their step count by 44.0 % (3465 steps, SD = 3013), while those who failed their challenge (n = 19,693) decreased their step count by −5.3 % (−398 steps, SD = 3013). Challenges started as a New Year's resolution were slightly more successful (77.7 %) than those started during the rest of the year (72.6 %). DiscussionIn a real-world setting, and among a large and diverse sample, participating in a gamified deposit contract challenge was associated with a large increase in step counts. A majority of challenges were successful and succeeding in a challenge was associated with a large and clinically relevant increase in step counts. Based on these findings, we recommend implementing gamified deposit contracts for physical activity where possible. An interesting avenue for future research is to explore possible setback effects among people who fail a challenge, and how setbacks can be mitigated. Pre-registrationOpen Science Framework (doi:10.17605/OSF.IO/D237C).

Diamond and Dybvig Meet Money: Are Deposit Contracts Efficient after All?

Diamond and Dybvig Meet Money: Are Deposit Contracts Efficient after All?

Historical Features of the Development of The Bank Deposit Contract

Historical Features of the Development of The Bank Deposit Contract

Escalating schedules of incentives increase physical activity with no differences between deposit and no-deposit groups: A systematic replication.

Physical inactivity has increasingly affected public health in the United States during the COVID-19 pandemic as it is associated with chronic diseases such as arthritis, cancer, and heart disease. Contingency management has been shown to increase physical activity. Therefore, the present study sought to evaluate the effects of an escalating schedule of monetary reinforcement with a reset contingency on physical activity, as compared between 2 counterbalanced groups in which a monetary deposit of $25 was either required (deposit group) or not (no-deposit group). Twenty-five adults wore Fitbit accelerometers to monitor step counts. An ABA reversal design was used; in the 2 baseline phases, no programmed contingencies were in place for step counts. During intervention, step goals were set using a modified 70th percentile schedule with a 7-day window: Reaching the first goal would result in $0.25, and incentives increased by $0.25 for each subsequent day in which the goal was met. Failure to reach a goal resulted in a reset of the monetary incentive value to $0.25. Ten out of 12 participants from the deposit group were determined to be responders to intervention, whereas 8 out of 13 participants from the no-deposit group were determined to be responders to intervention. Overall, there were no significant differences between the groups' step counts. However, the deposit group's intervention was cheaper to implement, which suggests that deposit contracts are a viable modification for physical activity interventions.

Evaluation of the Effectiveness of Behavioral Economic Incentive Programs for Goal Achievement on Healthy Diet, Weight Control and Physical Activity: A Systematic Review and Network Meta-analysis.

Healthy diet, weight control and physical activity to reduce obesity can be motivated by financial incentives (FI). Behavioral-economic approaches may improve the incentivization effectiveness. This study compares and ranks the effectiveness of standard and behavioral incentivization for healthy diet, weight control, and physical activity promotion. To investigate whether behavioral-economic insights improve incentivization effectiveness. A systematic search of Medline and Scopus was performed from database inception to December 2020. Study characteristics, program designs, and risk ratio (RR) were extracted. A two-stage network meta-analysis pooled and ranked intervention effects. There were 35 eligible RCTs. For diet-weight control, standard FI, deposit contract (deposit), lottery-based incentive (lottery), and standard-FI + lottery increased goal achievement compared to no-FI but only deposit was statistically significant with pooled RRs and 95% confidence intervals (CI) of 1.21 (0.94, 1.56), 1.79 (1.04, 3.05), 1.45 (0.99, 2.13), and 1.73 (0.83, 3.63). For physical activity, standard-FI, deposit, and lottery significantly increased goal achievement compared to no-FI, with pooled RRs of 1.38 (1.13, 1.68), 1.63 (1.24, 2.14) and 1.43 (1.14, 1.80), respectively. In a follow-up period for physical activity, only deposit significantly increased goal achievement compared to no-FI, with pooled RRs of 1.39 (1.11, 1.73). Deposit, followed by lottery, were best for motivating healthy diet, weight control and physical activity at program end. Post-intervention, deposit then standard-FI were best for motivating physical activity. Behavioral insights can improve incentivization effectiveness, although lottery-based approaches may offer only short-term benefit regarding physical activity. However, the imprecise intervention effects were major concerns.

Investigating Rewards and Deposit Contract Financial Incentives for Physical Activity Behavior Change Using a Smartphone App: Randomized Controlled Trial.

Financial incentive interventions for improving physical activity have proven to be effective but costly. Deposit contracts (in which participants pledge their own money) could be an affordable alternative. In addition, deposit contracts may have superior effects by exploiting the power of loss aversion. Previous research has often operationalized deposit contracts through loss framing a financial reward (without requiring a deposit) to mimic the feelings of loss involved in a deposit contract. This study aimed to disentangle the effects of incurring actual losses (through self-funding a deposit contract) and loss framing. We investigated whether incentive conditions are more effective than a no-incentive control condition, whether deposit contracts have a lower uptake than financial rewards, whether deposit contracts are more effective than financial rewards, and whether loss frames are more effective than gain frames. Healthy participants (N=126) with an average age of 22.7 (SD 2.84) years participated in a 20-day physical activity intervention. They downloaded a smartphone app that provided them with a personalized physical activity goal and either required a €10 (at the time of writing: €1=US $0.98) deposit up front (which could be lost) or provided €10 as a reward, contingent on performance. Daily feedback on incentive earnings was provided and framed as either a loss or gain. We used a 2 (incentive type: deposit or reward) × 2 (feedback frame: gain or loss) between-subjects factorial design with a no-incentive control condition. Our primary outcome was the number of days participants achieved their goals. The uptake of the intervention was a secondary outcome. Overall, financial incentive conditions (mean 13.10, SD 6.33 days goal achieved) had higher effectiveness than the control condition (mean 8.00, SD 5.65 days goal achieved; P=.002; ηp2=0.147). Deposit contracts had lower uptake (29/47, 62%) than rewards (50/50, 100%; P<.001; Cramer V=0.492). Furthermore, 2-way analysis of covariance showed that deposit contracts (mean 14.88, SD 6.40 days goal achieved) were not significantly more effective than rewards (mean 12.13, SD 6.17 days goal achieved; P=.17). Unexpectedly, loss frames (mean 10.50, SD 6.22 days goal achieved) were significantly less effective than gain frames (mean 14.67, SD 5.95 days goal achieved; P=.007; ηp2=0.155). Financial incentives help increase physical activity, but deposit contracts were not more effective than rewards. Although self-funded deposit contracts can be offered at low cost, low uptake is an important obstacle to large-scale implementation. Unexpectedly, loss framing was less effective than gain framing. Therefore, we urge further research on their boundary conditions before using loss-framed incentives in practice. Because of limited statistical power regarding some research questions, the results of this study should be interpreted with caution, and future work should be done to confirm these findings. Open Science Framework Registries osf.io/34ygt; https://osf.io/34ygt.

Promoting healthy behavior through repeated deposit contracts: An intervention study

The current paper clarifies the conditions under which deposit contracts are sufficient to motivate people to perform daily breathing exercises using a smartphone app. Our analysis compares the impact of repeated deposit contracts with the impact of small bonus incentives. Accepting the daily contract provided the same monetary gain from exercising as the bonus, but led to a larger loss when the participants failed to exercise. Theoretical analysis shows that deposit contracts are expected to be more effective than bonus incentives when the probability of failing to practice due to an unexpected busy schedule is sufficiently low. These predictions are supported by a field experiment with more than 180 participants. While the bonus incentives failed to increase the exercise rate, repeated deposit contracts boosted it from 58% to 83%. Moreover, the use of the contracts eliminated much of the cost that the intervention designer has to bear.

Pilot trial of QuitBet: A digital social game that pays you to stop smoking.

Contingency management is an effective treatment for cigarette smoking cessation but feasibility and acceptability concerns have been barriers to implementation. We conducted a pilot test of QuitBet, a commercial, digital (smartphone) social game for smoking cessation during which participants earned financial incentives for abstinence. QuitBet included a social feed for posting messages and entirely participant-funded incentives in the form of a deposit contract (the "bet"). QuitBet had a bet of $30 and lasted for 28 days. After a week to prepare for quitting, the quit day was Day 8. Between Day 9-28 (a 20-day period), participants earned back $1 of their $30 bet for each day of carbon monoxide (CO)-verified abstinence (≤ 6 ppm). Remaining bet money was pooled into a "grand prize" pot. Participants who were abstinent on at least 19 of the 20 days (1 "lapse" day allowed) were declared "winners" and split the grand prize pot equally. A game host posted a daily message containing evidence-based education about smoking cessation or a discussion topic. Recruitment goals were met. Among the players (N = 50 U.S. adults, 78% female), 17 (34%) were winners. Thirty-seven participants (74%) responded to a post-QuitBet survey, of whom 95% said they would be interested in playing another QuitBet and would recommend QuitBet to others. Overall, feedback was positive with some suggestions for improvement. In conclusion, a digital social game for smoking cessation with a deposit contract was feasible and acceptable. Next steps include conducting a randomized trial to establish efficacy and a sustainable business model. (PsycInfo Database Record (c) 2022 APA, all rights reserved).

According to the publicity of the bank deposit agreement under the civil legislation of Ukrainе

The statute extends the power of civil legislation to a bank deposit agreement, for the participation of physical assets, as a public agreement. The indications are considered by the author as one of the applications of the exchange on the principle of «freedom of contract» in the civil circulation of Ukraine, which is directed at the defense of the weak side of the civil contract, which is a physical person who places the contract of a bank deposit with the bank. On the basis of the scientific research carried out by the author, the author states for such banks the right to entitle the depositor - an individual in the bank deposit agreement laid down in the bank deposit agreement, as well as the specificity of the parties to the bank deposit agreement, in which the depositor is an individual, vimg part 2. 633 Central Committee of Ukraine. The author has established that banks have laid down agreements on bank deposits with physical persons, like “great investors”, for the model of the agreement, with additions, they could have part 2 of article 633 of the Central Committee of Ukraine, є complicate It is pointed out that it is practically impossible to standardize the mind of a bank deposit agreement for such companies, looking at those who are able to agree on a bank deposit, from the side of potential depositors can be different. In general, there are also hybrid agreements on bank deposits for the participation of physical assets, for example, received by the bank on the minds of a subordinate board. The aim of the article. Based on a comprehensive analysis of civil law of Ukraine, to investigate the legal regulation of the bank deposit agreement, under which the depositor is an individual, as a public contract, to investigate the requirements of the law to such agreements, and provide suggestions for improving existing civil law. Results. Taking into account the above, we can conclude that under the conditions of expediency of maintaining the publicity of the bank deposit agreement, with the participation of individuals, at the level of Part 2 of Art. 158 of the Civil Code of Ukraine, it is advisable to give the right to the National Bank of Ukraine to determine the bank deposit agreements in which the depositor is an individual, such as the rules of Part 2 of Art. 633 of the Civil Code of Ukraine do not apply. Key words: deposit, agreement, bank deposit agreement, public agreement, admission agreement, pennies, goiter, subordination borg.

Improving financial literacy of village community by using a saving program: A social enterprise strategy

A social enterprise is an organization that has a social mission and uses innovative revenue-generating techniques to fulfill their mission. Social mission in social enterprises is to improve the well-being of the community through good business practices. Nagari's Owned Enterprise (BUMNag) is an organization run with a social enterprise business model. Therefore, the establishment of BUMNag aims to gain profits through empowerment to the community. The purpose of this study is to explore how BUMNag role in improving financial literacy of village community. This research uses a qualitative approach. Data collected through observation, interviews, documentation, then analyzed data is using a modified Theory of Planned Behavior (TPB) to investigate BUMNag innovative idea of a "bajapuik saving system" in improving financial literacy. Informants numbered 10 people, 5 BUMNag managers and 5 people who opened bajapuik deposit contracts. The results of this study show that the strategy with the bajapuik deposit program implemented by BUMNag Pakandangan Emas can provide people with an understanding of the urgency of making deposits from now on to anticipate risks that will occur in the future.

A Preliminary Evaluation of the Effects of a Contingency Management + Deposit Contract Intervention on Problematic Smartphone Use With College Students.

Problematic smartphone use (PSU) is smartphone usage that is, in some way, damaging to the user. PSU represents a growing public health concern that could be addressed via behavioral intervention. We recruited six college students who reported negative side effects of smartphone use and sought to decrease their PSU. The effects of a contingency management (CM) + deposit contract intervention on PSU was evaluated. During the CM + deposit contract condition, participants deposited $40 and had the opportunity to earn back their entire deposit by meeting daily smartphone usage goals. To promote adherence to study protocols, participants also had the opportunity to earn a $20 cooperation bonus. For all participants, lower levels of PSU were observed during intervention relative to baseline. The CM + deposit contract intervention produced consistent decreases in PSU for four participants (mean reduction percentages above 40% were obtained) and had inconsistent effects on PSU for two participants (mean reduction percentages below 20%). Maintenance of intervention effects was limited for all participants. Although preliminary, results suggest that CM + deposit contract interventions could be a viable, low-cost approach to addressing PSU. Potential explanations for our findings and avenues for future research are discussed.

Legal characteristics of the bank deposit (deposit) agreement

Holding on the deposit of funds are their transfer in cash or non-cash in foreign, or national currency, banknote or bank currency and at the expense of the owner for compliance under certain conditions in accordance with the contract.&#x0D; The agreement of the bank deposit is concluded in writing. If the bank's deposit agreement or certificates and other documents that meet the requirements of the bank's legislation, regulations or other provisions which corresponds to the written form of the bank deposit agreement (bank rules) and the customs of business.&#x0D; The agreed condition that the bank has the right to change the rate of interest on the deposit in a one-way order is invalid. Interest on bank deposits is accrued from the date of receipt of the deposit by the bank and ends on the day before the depositor accepts the deposit or debiting the funds from the account of the account.&#x0D; In judicial practice, there is no unanimity on the question of whether the heir has the right to receive interest on the relevant contract of the bank deposit (deposit) and the right of way of life after the death of the depositor of funds until the actual return of the deposit.&#x0D; We consider it expedient to make changes to paragraph 3 of Chapter 71 of the Civil Code of Ukraine on further improvement of legislative provisions on deposit obligations, in particular by limiting and regulating the range of entities with the right to provide this type of financial services complying with their compliance with the established legislation with the requirements for professional students of this market focusing on the economic base of the main types of their activities, clarification of the legal regime of those involved in the depository fund of financial institutions and active assets defining the permissible limits between the establishment of legal succession and harmonization of approaches to the mechanism of accrual of interest in the investigated obligations

The effects of a group‐deposit prize draw on the step counts of sedentary and low active adults

AbstractApproximately 78% of American adults do not engage in enough physical activity, which is problematic because physical activity is positively correlated with beneficial health outcomes. Contingency management (CM) interventions have been shown to produce clinically significant behavior change across a range of target behaviors and populations, including physical activity. Both prize‐based and deposit‐contract CM interventions work well and decrease the costs associated with intervention, but they can decrease the magnitude of potential payouts. The current study used a prize‐based CM intervention combined with a deposit contract in which each participant deposited money that was pooled in the prize system for all participants. This increased the potential magnitude of reinforcement while keeping costs low for each participant. Four obese and two healthy weight adults participated in the CM intervention, which was introduced according to a single‐case reversal design. Overall, participants took more steps during intervention than during baseline, with four participants regularly taking 10,000 or more steps during intervention.

A SCRUTINY OF THE DEMAND DEPOSIT (CURRENT ACCOUNT) THROUGH THE LENSES OF LAW AND ISLAMIC JURISPRUDENCE

Demand deposits (current accounts) are crucial to banks activity, particularly with regards to granting loans. For commercial banks, the primary source of funds is bank deposits. This article attempts to analyze and discuss the legal nature of the demand deposit contract, with a particular focus on the widely agreed upon characterization of this contract as a loan contract in all today’s legal systems (Common law, Civil law, Islamic law and hybrid legal systems). After discussing the arguments and building blocks of the loan theory and examining the essence of both contracts through the lenses of economics, law and Islamic jurisprudence, this paper concludes that the demand deposit contract cannot be considered a loan contract, with supporting arguments from economic, legal and Islamic jurisprudential perspectives.