Islamic banks offer customers profit-sharing proceeds instead of interest, and charge borrowers participation-sharing, instead of loan interest.
They operate two types of accounts to collect funds from depositors. One is a "current account" that does not provide any type of return, but offers conventional services such as cheque books, money transfers and documentary collection.
The second is a profit-loss sharing participation account, that can be opened in U.S. dollars, euros or liras for a minimum of 30 days. The holders of accounts share the profits and the losses as a result of an investment in funds.