15.04.2013 - Turkey's Ziraat to set up Islamic bank
Ziraat Bank, Turkey's largest state-run lender, is planning an Islamic bank, known locally as a "participation bank", and would consider going into partnership with a foreign lender, General Manager Huseyin Aydin. After proceeding slowly with the development of Islamic finance for years, partly because of the sensitivities of its secular political system, Turkey has recently begun to tap the sector, issuing its first sovereign sukuk last September. The development of Turkey's sukuk, or Islamic bond, market is of interest to countries around the world, since Turkey's fast-growing economy could become a major issuer of Islamic debt and influence trends throughout the industry. "Ziraat Bank is working towards establishing a participation bank, we have set some people to work on this subject...............................................Full Article: Source
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