The current model of interest-free banking in Iran, despite its many advantages over the banking model before the Islamic Revolution, suffers from shortcomings and drawbacks. Many models have been proposed by researchers to improve the current model, none of which have been successful in implementing and resolving the problems in practice. The aim of this study is to present a model for reorganizing the banking system in Iran from a practical and operational perspective. In the present study, after evaluating the performance and identifying the basic problems of interest-free banking in Iran, these problems were weighted in terms of importance using the AHP method and paired comparisons, and finally, by examining the theoretical and practical models presented for Islamic banking, an alternative proposed model was introduced. In the proposed model, in order to maintain the nature of financial intermediation of banks, taking into account the dual legal personality and the existence of two monetary and capital sectors in conventional banking operations, banks will only perform the task of financial intermediation and will delegate the task of investment and agency to appropriate institutions. The main feature of this model is attention to the real needs of customers, operationality, and a focus on solving the problems existing in current banking in Iran