Author(s): Linda Hamed Malkawi
This study deals with the legal effects of closing the current account. It is one of the topics that are important in banking transactions, whether for banks or customers, where the legal effects of closing the current account to liquidate the current account to extract the balance and closing the current account for interest calculation. The closure of the current account will result in the interruption of any new transactions with the account, which will exclude the entry of any new payment in the current account. The closing of the account will result in the discontinuation of the compound interest because the balance becomes a normal debt after the account is closed.