IslamicFinance.de

Turkey’s Finance Minister Mehmet Simsek said the government wants more foreign lenders to apply for operating licenses as the country’s pool of potential bank acquisition targets shrinks. The focus on licenses comes after Industrial & Commercial Bank of China Ltd. announced last month that it was buying Tekstilbank AS and Qatar Islamic Bank said on March 26 that was nearing the end of exclusive talks to buy a stake in Asya Katilim Bankasi AS. (ASYAB). While the acquisition field narrows, Turkey’s regulator said it will look favorably on applications for banking licenses as the government encourages foreign investment.