International links to boost Turkey’s Islamic banks?
Standard & Poor’s Ratings Service (S&P) has the strong oppinion that Turkey's Islamic banks could persist recent strong growth if they can cultivate stronger ties with their international owners and create a sustainable brand image.
Besides the growth of the total sector assets accounting for about five % of total system assets, this sector has also encountered other developments like: A law conferring tax neutrality on Sukuk products;A $100 million debut Sukuk by Kuveyt Türk (not rated); the launch of several Shari’ah-compliant funds; and The creation of a domestic index of Shari’ah-compliant banks and companies by the Istanbul Stock Exchange.
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