Profits or losses will be split between the shareholders according to a pre-determined formula, depending on the investment ratio. Mudaraba and Musharaka constitute the pillars of Islamic banking. Retail Banking Products Islamic banks provide current, savings, and investment accounts. It is similar to a safe-keeping account in a conventional bank. No return is paid to depositors.
Banks allow instant withdrawals on demand and are permitted to use the depositors' money.
Cheque books are provided along with bill payment facilities, bank drafts, bills of exchange and travellers cheques. Credit cards are unlikely to be provided but debit cards are issued. Most banks do not charge for such accounts. Murabaha Most Islamic financial transactions do not involve a share of profit but generate a locked-in return. The Mudaraba and Musharaka transactions present the retail liability side of Islamic banks.