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Turkey can profit from Islamic banking

Posted on 08 May 2013

As part of an initiative backed by the Islamist government, Ziraat Bank, the country’s largest state-run lender, is working to set up a Shari’ah-compliant entity. It comes less than a year after Ankara’s debut sovereign Sukuk. In a country divided by the role of religion in public life, such an active promotion of Islamic finance would have been tough to imagine when Prime Minister Recep Tayyip Erdogan first came to power a decade ago.
But times have changed. Turkey already has four Islamic banks, known locally as participation banks, of which three are foreign-owned. The first was established almost three decades ago………………………………………..Full Article: Source

 
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Laxman - who has written 19160 posts on Opalesque Islamic Finance Briefing.


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