Turkey’s Islamic Bank gets $75 million from IDB
Turkye Finans Participation Bank was given $75 million line of finance by Islamic Development Bank (IDB). An agreement was signed by IDB Group President Dr. Ahmad Mohamed Ali with one of Turkey’s largest Islamic Banks. This proccess took place at the 27th meeting of the Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation, (COMCEC), in Istanbul.
The agreement brings long term financing opportunities to small and medium enterprises in Turkey through Installment Sale, Ijara and Istisna’a modes of Islamic finance.
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