Five Islamic banks, each with equity capital of less than $500 million, will invest in Turkey in the next two years, Star said, citing Fahrettin Yahsi, head of Islamic banks’ association in Turkey. (source)
More banks may invest over time, Yahsi said, according to the Istanbul-based newspaper. Yahsi, also chief executive officer of the Istanbul-based Islamic lender Albaraka Turk Katilim Bankasi AS (ALBRK), said he had the information on Gulf banks planning to invest from Turkey’s banking regulator, the newspaper said.
To contact the reporter on this story: Ercan Ersoy in Istanbul eersoy@bloomberg.net.
To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net.
