Abstract

Participation banking system in the world In today's world, they are engaged in many banking activities performed by traditional banks within the financial system, as well as commercial activities such as leasing, insurance, exchange. Participation banks perform all transactions and activities performed by traditional banks using different methods, provided that they do not contradict their basic standards. The main purpose of such banking services is to include the mutual liquidity and savings of individuals and institutions that are sensitive to interest in the national economic system within the framework of interest-free financial principles. Due to the fact that the current banks take profit-loss partnership as a basis instead of interest when performing these services, this type of banking model has entered the literature as an interest-free banking system. Interest has nothing to do with all these kind of organizations which perform different banking services banks to a certain extent with the procedures and principles to the existing alternatives, to a lesser extent, the interest in the aging existing banking activities in the system for not doing that by completing them adds depth and diversity to the financial sector organizations. Key Words: Global Financial System, Participation Banking, Interest-Free Banking

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