Turkish participation bank executive warns on Central Bank move
The Turkish banking sector will shrink this year if the Central Bank increases the required reserve ratio for banks in a bid to control the already-high credit expansion. This statement was given by Fahrettin Yah?i, general manager of the Albaraka Türk Participation Bank.
Albaraka plans a sukuk, or Islamic bond, sale in September or October, Yah?i said Wednesday on CNBC-e television. The bank may offer at least $100 million of sukuk this year.
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