| The Islamic Development Bank (IDB) has assigned $75 million line of finance to Turkey’s Islamic Bank, Turkye Finans Participation Bank. At the 27th meeting of the Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation, (COMCEC), in Istanbul, IDB Group President Dr. Ahmad Mohamed Ali signed an agreement with the one of Turkey’s largest Islamic Banks.
The agreement, counter-signed by CEO of the Turkish bank, Mr. Derya Gurerk, provides long term financing opportunities to small and medium enterprises in Turkey through Installment Sale, Ijara and Istisna’a modes of Islamic finance.............................................Full Article: Source
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