|Part of a series on financial services|
Participation banking is the name given to Islamic banks mainly in Turkeyas well as MENA region and in other pan-Islamic countries. Beginning of the era 2000, while participation banks reach only 2%of the net assets, in 2010 the rate increased up to 4,3%. As a result of the momentum of high growth in the last 5 years, the rate increased up to 6, 1% with 90,7 billion TL asset in the third quarter of 2013. Although, regarding the profit margins of the participation banks, Malaysia, Indonesia and Gulf countries have more than 50% of the market share, it is stated that Turkey has more potential in growth. Also, Turkey, Pakistan, Bangladesh and Indonesia stand as the leading countries among the participation banks. Saudi Arabia, the UAE and Malaysia are the three largest participation banking markets, in terms of assets. Iran has 36% of the worldwide assets of the participation banks, Malaysia has 17%, Saudi Arabia has 14% and Turkey has 3,1% of the market share. According to EY’s ‘Banking in emerging markets’ report, the assets of global participation banking reached US$930b in 2015, with growth rates declining across all regions compared to previous years.