05.04.2013 - Two Islamic banks join forces to found private pension firm in Turkey
The new, highly state-aided private pension system has made the mouths of Islamic banks water, as two of Turkey’s non-interest, Islam-compliant banks look to establish a joint company. The new regulations opening the way for Islamic banks to found non-interest pension funds and most recently enabling them to invest private pension funds in non-interest financial instruments encouraged Albaraka Türk and Kuveyt Türk to enter this business field. Another Islamic bank, Asya Participation bank already has its own private pension arm, while other Islamic banks were working with agency...............................................Full Article: Source
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