IslamicFinance.de

The Albaraka Türk Participation Bank and Anadolu Hayat Retirement have signed a cooperation agreement to attract investment from customers cool on interest-based banking and insurance services into individual retirement system.
Since traditional Islamic rules do not permit interest bearing bonds, the venture aims to offer individual retirement products benefiting from non-interest based investment tools rather than interest based profit in attempt to net a potentially lucrative pool of religious clients.
Albaraka Türk Participation Bank General Manager Fahrettin Yah?i said the individual retirement system would grow further once those abstaining from interest-based revenue are also included in the system.