Turkey is on track to becoming the next hub for Islamic banking and finance. Given the Ottoman legacy, the last seat of the Islamic viceregency, the government of Turkey was only required to show its commitment to Islamic finance before other players in the industry were going to join her in building a vibrant Islamic banking and finance industry.
The recent successful dollar-denominated $1.5 billion sovereign Sukuk issue, followed by a lira-denominated $900 million sovereign Sukuk have put the country on the global platform of Islamic banking and finance. It is expected that many Middle Eastern Islamic banks and financial institutions will enter the Turkish market in the future………………………………………..Full Article: Source