Albaraka Turk has issued a tier 2 Sukuk for the value of USD$250 million. The sukuk has been admitted for listing on the Irish Stock Exchange. The Reg S fixed rate resettable tier 2 sukuk is due 2025 and is backed by the credit of Albaraka Turk as obligor, was issued by Albaraka Sukuk Ltd. »
A report produced by Deloitte highlights Islamic capital market developments in Europe. Analysis and discussion are formed around building case study scenarios for four potential European countries. The report also includes perspectives of prominent industry thought leaders and practitioners who shared their insightful views on the discussed issues. »
Kuveyt Türk, the Turkish participation bank has issued a Turkish Lira denominated Sukuk for TL150m. The 90 days issuance with a maturity of 90 days received demand of around TL200 million from a book building exercise which stated on September 15 to qualified investors. »
Addressing the opening ceremony, the IDB Group President, Dr. Ahmad Mohamed Ali extended appreciation to the Turkish Presidency for having included on G20’s agenda the development of SMEs via Islamic finance. He further highlighted the significance being placed by policy makers across the globe on the pivotal role of SMEs through Islamic finance in enhancing economic growth and alleviating poverty... »
Whilst the proposed Indonesian or Turkish banks will be hugely overshadowed by Gulf Islamic Banks in terms of assets and capital, they will have access to much bigger markets. Both Indonesia and Turkey being Muslim majority countries with combined populations of around 325 million offer greater growth prospects in engaging unbanked populations of their societies, as well as eating into the market ... »
The inaugural Symposium of GIFDC is a 2-day event and will be held in Istanbul, Turkey. The theme of the symposium is Islamic Finance: A catalyst for Shared Prosperity. The concept of risk-sharing in financial and social contracts is one of the unique features of Islamic Finance while shared prosperity advocates for an economic and financial system that mobilize and allocate resources to the most ... »
Speaking at the opening of state-owned Ziraat Bank's, first branch of its Islamic Banking window operation in Istanbul, Turkish President Recep Tayyip Erdoğan said “This is a historic step. Other state-owned banks should follow Ziraat’s move”. »
Turkey, geographically and culturally bridging East and West, is looking to profit from increasing global interest in Islamic Finance. »
Turkish Deputy Prime Minister Ali Babacan speaking at an IMF discussion emphasised the universality of finance based on Islamic value for all of man-kind irrespective if the customer is Muslim or not. »
The Turkish website alleged Mr. Gürerk had assigned his friend Hüseyin Cankurtaran's company (Standart Değerleme) as a mediator in the purchase of a 200 million Turkish Lira ($73.6 million) worth plot for the building of the bank's new headquarters in Istanbul's finance center. »
