Abstract
Indeed, one of the core features of wealth is its circulation as it ensures the financial system to right off almost all the liabilities of the parties along with flat and level flow of economic power and its failure leads to severe crises like Dot.com and 2008 financial crises. The Shariah’s teachings focuses on distribution of wealth and strongly discourage the accumulation in few hands contrary to conventional system as the tool normally used by them is Interest, the real curse to humanity. The interest free banks normally claim the use of different accounts for different type of investment totally based on such principles that are in full conformity with Islamic teachings like Musharakah and collection of charity as a penalty from different clients. The study emphasis on defining the different interest free deposits accounts to know the extent of execution of Shariah standards and the Islamic context of charity collection as a penalty practices in Islamic Banks.