Activities of Islamic financial institutions differ from those of standard commercial depository corporations in that predetermined interest on financial transactions is prohibited. The nonpayment of interest on liabilities does not in itself preclude instruments from being classified as external debt. It is possible to determine whether Islamic banking instruments should be classified as external debt based on the general guidelines below. Islamic instruments - Deposits include conventional and transferable deposits, trust deposits and good loans, as well as various investment participation certificates that are not included in the permanent capital investment of the financial institution and do not have the characteristics of negotiable securities. Islamic instruments - Debt securities consist of various investment participation certificates that have the characteristics of negotiable securities and are not included in the permanent capital of the institutional unit concerned. In this category, most negotiable investment certificates are listed as liabilities to the financial company concerned. Islamic instruments - loans cover the arrangements by which the financial institution makes advance payments to customers, project financing or trade or providing working capital to customers. Such arrangements may include short-term or other forms of participation in which the financial institution does not make investments of a permanent nature, such as equity investments.