Starr, M. and Yilmaz, R. (2007) reported that there are three foreign financial companies that started their activities in the 1980s, while three others national companies entered. market and their main sources of funds are profit and loss sharing accounts. There are several types of products that the Islamic bank offers to the society, for example mudarabah (capital-labor partnership), murabahah (cost-plus sale), moucharakah (capital-capital partnership) and ijarah (rental ). Among these asset-side products, mudarabah and musharakah are classified as equity-based products, while murabahah is classified as debt-based (non-interest) products. Revenue streams and value proposition are the main differences between Islamic banks and conventional business models. Say no to plagiarism. Get a tailor-made essay on “Why violent video games should not be banned”?Get the original essayThe development of Islamic finance in Turkey can be highlighted in 1985, where in that year Prime Minister Turgut Ozal launched the first uninteresting program. institutionalized or known as Islamic banks. The term "bank" has not been used to distinguish these financial institutions from conventional banks. The Special Finance Houses were not tied to the bank's legal framework and operated under the guidelines of a Cabinet resolution. After that, in 1991, as interest-free institutions grew, Anadolu Finans was established, followed by Ihlas Finans which was established in 1995. After a year, Asya Finans was established. The epic moment of development of these interest-free institutions took place from 1999 to 2001. During this period, a financial crisis occurred and affected the functioning of more than 20 banks. According to Alpay (2007), 20 banks affected by the financial crisis were transferred to the Savings Deposit Insurance Fund due to the state guarantee of deposits in conventional banks. Furthermore, Ihlas Finans went bankrupt, leaving a huge void in the Islamic banking sector in Türkiye. In 2001, the Turkish company was acquired by Faisal Finans and changed its name to Family Finans. Orhan (2018) noted that at present, there are 5 Islamic banks and 47 conventional banks established in Türkiye. El-Gamad and Inanoglu (cited in Orhan, 2018) argued that there are two reasons why the operations of special financial companies are permitted in Türkiye. Firstly, the reason is to encourage people to save, especially Muslims who do not want to. take care of interest and conventional banking operations, while the second reason is to attract incoming funds from Gulf countries such as Bahrain, Iraq, Oman, Kuwait, Saudi Arabia and the Arab Emirates united. The operation of Special Finance House can be classified into two categories: business services and retail services (Alpay, 2007). Under business service, there are 3 types of services which are leasing, production financial support and profit and loss sharing funds. In addition, retail service is a service that offers individual customers different types of consumer financing. Through retail service, Special Finance House will purchase goods and add a certain profit margin, then sell them to its customer on installment payment, for example, real estate, automobiles, computers, home equipment and equipment office. Sales services at..