13.03.2013 - Turkey: Sukuks set to diversify bank funding
A strong performance from Turkey’s banks last year produced a significant rise in total assets and an increase in equity capital, generating impressive growth across the industry. Turkish banks also continued to strengthen their position on the international stage by further diversifying their services, with a number of financial institutions extending their reach into the growing Islamic financial services segment. The Banking Regulation and Supervision Agency (Bankacılık Düzenleme ve Denetleme Kurumu, BDDK) announced on February 13 that the sector grew 12.6% in 2012. Total assets reached TL1.3bn ($0.72bn), driven largely by growth in the second half of the year, according to Mükim Öztekin, president of the BDDK...............................................Full Article: Source
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