Participation Accounts
Participation Accounts
Participation Accounts
Participation Accounts

Participation accounts are established on the basis of one month, three month, six month, one year or over one year maturity periods. Participation account deposits maybe in Turkish Lira, U.S. Dollars, or Euros. Each currency is grouped and accounted separately in what we call a “pool system.”

The profit/loss amount of each group is calculated on the maturity date of each deposit, and 20% or 25% of the profit/loss representing is taken by alBaraka, while the remaining 75% or 80% belongs to the deposit holder. The percentage of alBaraka’s share is determined by the maturity period and size of the deposit. This share is declared before the opening date of the deposit.

Income received through participation accounts is subject to 15% income tax withholding.

Participation accounts are insured up to TL 100,000 each by the government, as with commercial banks.

Participation Accounts
Participation Accounts
Open a participation account ?
Participation Accounts
Participation Accounts


  • Participation accounts are deposit accounts opened in Turkish Lira or foreign currency (USD or EURO) on the basis of profit and loss sharing.

  • Participation account owners do not receive interest on their funds.

  • In participation accounts funds can only be withdrawn at the end of the account maturity period. Prior to this date, the bank must give special permission to withdraw funds.

  • The funds that are collected in participation accounts are used to finance trade and industry with interest-free methods and a portion of the profit from these investments is allotted to account owners.

  • Participation accounts can have maturity periods of 1 month, 3 months, 6 months, 1 year and more than 1 year.

  • The minimum deposit for opening a participation account is 500 TL/USD/EURO.

  • As a matter of law, income tax is automatically taken from the account’s profit share.

You can find income tax rates in the statement below.

What do I have to do to open a participation account ?

You can open a participation account by visiting your nearest alBarak branch and speaking with a customer service representative.

Required information and documents:

Real persons;
- Name, Surname
- Date of birth
- Place of birth
- Name of mother and father
- Nationality
- Identification

For non-Turkish citizens;
- Identifification/Passport/Residence Permit,
- Residence Address (A certified copy of invoice saved on the last three months),
- Specimen Signature (Shows examples of the signature of a document concerning),
- Account (document itself indicates the account used for sample),

Legal persons:
- Appellation,
- Commercial registration number,
- Line of activity,
- Partnerships and address,

In Includes the information about the country of corresponding to approved by the consulate of the Republic of Turkey.

The outline of "The abolition of compulsory about Hague agreement of foreign formal certificate of documents" this agreement declare with notarized Turkish translate by deducted to certificate of authority of the country,

Specified below of foreign correspondent bank account of our bank through by put out money of and sending a remittance to opening account to profit and loss.

  • Collected funds in private current accounts and participation accounts on Turkish currency or Exchange currency on behalf of real persons in Participation Banks depend on insurance. The part up to 100,000 TL of accounts and profit share sums of a person is within the scope of the insurance.
  • Accounts that are opened in abroad agencies including off-shore banking of Participation Banks is out of the scope of Savings Deposit Insurance Fund.
  • In case of removal of activity permit; unit account value that will be calculated on liquidiation balance sheet is based on. Payments within the scope of Savings Deposit Insurance Fund are performed on Turkish Lira. For conversion of Foreign currency account into Turkish Lira, Central Bank Exchange purchase currency is applied.
  • If shares who have accounts in private common account and/or participation account are certain; payment is performed according to these shares; including the insurance amount; if it is not certain payment is performed equally on condition that not exceeding the insurance amount for each person.