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Islamic Finance Briefing - Categorized | Banking, Performance more

Islamic participation banks earn $450 mln in profit in 2011

Posted on 28 March 2012

Participation banks, which refrain from being involved in financial activities deemed forbidden in Islamic teaching, increased their profit by 6 percent, to TL 850 million ($450 million), in 2011 compared to 2010.
According to a statement released by the Participation Banks Association (TKBB) on Monday, the financial institutions’ assets and equity capital have also grown by 29 percent and 13 percent, respectively, year-on-year to TL 56 billion and TL 6.1 billion. Their assets were only TL 3.9 billion in 2003………………………………………..Full Article: Source

 
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