IslamicFinance.de

Standard and Poor’s (S&P) stated that Turkey’s participation (Islamic banks) “could continue their recent strong growth if they can cultivate stronger ties with their international owners and create a sustainable brand image,”. This puts ground to an Islamic finance market which is as old as the one in Malaysia and others in the Gulf Cooperation Council (GCC) countries.
Turkiye Finans, Kuveyt Turk Participation Bank (KTPB) and Albaraka Turk Participation Bank (ATPB) have got majority GCC ownership interests. Asya Participation Bank (APB) has arranged a joint venture with the Islamic Corporation for the Development of the Private Sector (ICD), the private sector funding arm of the Islamic Development Bank Group (IDB), called Tamweel Africa which invests in financial institutions, leasing entities and extends lines of credit to finance trade in sub-Saharan Africa.