IslamicFinance.de

Turkey's Albaraka Türk is targeting Europe's Muslim community with the launch of an interest-free digital banking app. "Insha" is initially being rolled out in Germany ahead of a Europe-wide expansion. It features a document-free account opening process and comes complete with a debit card. In addition to financial products, the app offers a range of Islamic-friendly services including a Zakat Calculator and a "Nearest Mosque" locator. Meliksah Utku, general manager at Albaraka Türk, says that the insha project marks the first step in the bank’s strategic entry into the European market.