Islamic banking offers financial services without interest by acting as an intermediary between savers and borrowers. It deals in savings and deposit products as well as loan products based on profit and loss sharing rather than fixed interest. In Uganda, the Financial Institutions Amendment Act of 2016 provided for Islamic banking, which will be regulated by the Bank of Uganda and follow standards set by international Islamic financial bodies. Islamic banks offer various banking products structured as partnerships and leases rather than loans with interest, and they do not engage in industries like alcohol or gambling.