BANKING - Germany could get first Islamic bank

www.thenational.ae - BERLIN // Bank Kuveyt Türk, based in Instanbul, plans to set up the first Islamic bank in Germany next year to tap into a potential market of more than four million Muslims.

An official at the German branch of Kuveyt Türk, majority-owned by Kuwait Finance House, said on Monday the bank was preparing its application for official approval. (source)

BANKING - REGULATIONS - Gold under the mattress

www.bne.eu - News that Turkey's banking regulator BDDK has drafted regulations that will allow banks to sell all kinds of gold has been greeted with anger by Turkey's jewellers, who have until now held a near monopoly on the trade, and with surprise by those unfamiliar with the "unorthodox" monetary policy being implemented by the Turkish central bank.

While the draft regulation allowing banks to sell gold is new, it is a natural extension of existing regulations brought in last year that allow banks to buy gold. This sudden move to allow Turkish banks to trade in what many would regard as a luxury item having no relation to the business of banking reflects the twin realities of Turkey's still developing financial services sector and the central bank's ongoing "unorthodox" monetary policy.   (source)

RATNGS - Standard and Poors reaffirms Albaraka Turk participation bank's credit rating

www.ameinfo.com - The rating signifies a positive view of Al Baraka Turk Participation Bank and its strong financial fundamentals and position in the Turkish market. The rating reaffirmation is also a confirmation of Al Baraka Turk Participation Bank's good performance that has been consistent over the years.

The Chairman of Al Baraka Turk Participation Bank Mr. Adnan Ahmed Yousif said "The reaffirmation of Al Baraka Turk Participation Bank's ratings by S&P is a considerable accomplishment and points to its strength as an institution that has shown significant flexibility in these times of financial and political uncertainty across the world.

"Al Baraka Turk Participation Bank's Board Member & General Manager Fahrettin Yahşi stated "The rating reaffirmation indicates the success of Al Baraka Turk in pursuing growth and development in all of its business lines despite the challenging market conditions both domestic and international."  (source)

BANKING - Bank Asya campaign to support 1,000 students

www.todayszaman.com - Turkey's leading Islamic participation bank, Bank Asya, has announced that it will provide a monthly stipend to 1,000 students as part of its corporate social responsibility.

The project, called “I'm schooling a child,” was promoted at a press conference at the bank's headquarters in İstanbul on Tuesday. Students from primary to university level will be paid a monthly stipend of between TL 100 and TL 250 in the first year of the campaign, and the bank hopes that the project will continue into the future.(source)

BANKING - 2.5 tons of gold move from ‘under the pillow' to Bank Asya accounts

www.todayszaman.com -Turkey's leading participation bank Bank Asya's General Manager Abdullah Çelik has said that they have taken in 2.5 tons of gold since March as a result of a campaign to transfer what is called the "under-the-pillow" precious metals as functioning assets to the national economy.

Offering customers a chance to open a time deposit gold account in Bank Asya, the "golden account" program was first introduced on March 19.  (source)

BANKING - '23 years of successful leadership of Kuwaiti private sector in Turkey' (Kuveyt Turk)

www.menafn.com -(MENAFN - Arab Times) On March 31, 1989, KFH-Turkey began officially working in Istanbul as the first Islamic bank in Turkey.
The bank was a result of the collaboration between relentless employees from Kuwait and Turkey, who believed in establishing an Islamic bank that depends of Kuwait's experience in this field and Turkey's promising economy. This led to a bank that is a source of pride for Kuwait and the GCC.

On that date, while KFH-Turkey was celebrating this historic day with its shareholders and administration, the late Ahmed Al-Yasseen, the godfather of Islamic banking who was the bank's first chairman, said that the Islamic world has abundant wealth that is unused, such as natural resources, industrial potential, and skillful laborers, but imports from other countries what it can produce itself. (source)

BANKING - Bank Asya establishes a brokerage firm

www.finansglobal.com - Who agreed to take the license Menkul'ün GFC Bank of Asia, has decided to establish a brokerage firm owned 10 million pounds.

Bank of Asia

Asian capital markets, brokerage firm, to carry out the establishment of a new company with a capital of 10 million pounds decided.  (source)

AWARDS - Albaraka Türk receives Hawkamah award

www.todayszaman.com - Turkish participation bank Albaraka Türk received a corporate governance award at the Middle East’s Industry Awards held in Dubai. Organized by the Corporate Governance Institute, this year Albaraka Türk was among the winners of the prestigious regional Hawkamah Bank Corporate Governance Award, along with the Abu Dhabi Commercial Bank (ADCB) and Bank Muscat.  (source)

BANKING - Turkiye Finans Will Grow 25 Percent in 2012, Aksam Reports

www.bloomberg.com - Turkiye Finans Katilim Bankası AS, a Turkish bank that operates according to Islamic rules barring interest, will grow 25 percent this year, Aksam reported, citing Chief Executive Officer Derya Gurerk.
The shareholders are committed to increasing the bank’s capital to achieve a capital adequacy ratio that will support this rate of growth, Gurerk said, according to the newspaper.
National Commercial Bank of Saudi Arabia owns 64.7 percent of Turkiye Finans, Turkish Boydak Group 21.6 percent and Yildiz Group 13.7 percent.  (source)

BANKING - Turkey finance, corporate identity, logo and emblem of renewal has changed.

www.finansglobal.com - Finance General Manager of Turkey, which has information about the renewed corporate identity Derya Gürer, "In recent years a steady growth of the financial strength fold range of applications, the many innovations we have signed. Corporate identity transformation, the results of a professional way of doing business, a reflection of our customers and our stakeholders. After that, all our efforts 'Turkey Turkey Finance, Finance' slogan by the center will continue to give direction, "he reported. Gürer, "participation in this process is perceived as banking firm to complete the long-term infrastructure and financing model will initiate an advertising campaign,'' he said.
Participation in the banking sector and banking expertise to the accumulation of Turkey with the logo and emblem of Finance, the flower symbols of the old emblem was modernized.Live dignified gray-blue gradient technology and the digital world of finance a transition to the new corporate brand identity is a dynamic structure exhibiting a red flower.  (source)

BANKING - Turkey Hires Ex-Islamic Banker Oztekin as Chief Regulator

www.businessweek.com -Turkey appointed Mukim Oztekin, formerly of Islamic banks Albaraka Turk Katilim Bankasi AS (ALBRK) and Asya Katilim Bankasi AS (ASYAB), chief of the country’s banking regulator.

The decision to hire Oztekin for five years was published in the Ankara-based Official Gazette today. He last worked as a board member of the Savings and Deposits Insurance Fund, which manages the assets of failed banks, according to state-run Anatolia news agency. He also worked at Turkiye Garanti Bankasi AS (GARAN), the country’s biggest bank by market value. (source)

BANKING - Kuveyt Turk : Turkey: Driving Demand With Innovation

www.goldinvestingnews.com -Gold is a favored investment in Turkey and innovation may cause its popularity to grow. In 2011, the country’s total gold demand rose about 32 percent to reach 143 tonnes, according to the World Gold Council (WGC). That marked the first time that investment demand accounted for the lion’s share of total consumer demand. With investment products ranging from the basics – such as coins and a gold ETF – to more innovative services like gold deposit accounts and gold ATMs, this demand source has significant potential.  (source)

BANKING - MIDEAST MONEY-Gulf banks eye European rivals' Middle East assets - Eyes on Turkish banks

www.reuters.com - DUBAI, June 20 (Reuters) - As struggling European banks scale back their worldwide operations, cash-rich Gulf lenders see a chance to expand by snapping up the Middle East assets of European rivals at attractive prices.
After years of building operations in the fast-growing Middle East and North Africa region, European lenders are shrinking back due to a crippling debt crisis at home and the need to raise capital to meet regulatory requirements.
Gulf banks are keen to seize an opportunity as profitable businesses from Turkey to Egypt have been put on the block by European banks at a time when valuations are near multi-year lows due to the volatility in financial markets. (source)

BANKING - AIBIM Malaysia and TKBB Turkey sign MoU

2012 May 30 Aibim Tkbb Mou

BANKING - Bank Asya gives gifts for data updates

www.todayszaman.com - One of Turkey’s largest participation banks, Bank Asya, is offering some of the latest electronic gadgets as gifts for those who update their customer data between May 9 and July 9. Customers will be able to update their data via Bank Asya ATMs, call centers as well as online. (source)

BANKING - Participation bank assets grow 29 percent last year

www.hurriyetdailynews.com -Participation banks’ presence is growing rapidly in Turkey, the Participation Association data show as the government prepares to supports the sector with sukuks
 
Participation banks’ assets grew 29 percent to 56.1 billion Turkish Liras last year, Fahrettin Yahşi outgoing chairman of the Participation Banks Association of Turkey (TKBB) said May25 at the association’s 11th general assembly. (source)

BANKING - Turkish banks eye their customers' $270b pot of gold

www.gulfnews.com - Istanbul: Turkish banks are seeking to boost the lowest savings rate among major emerging markets and allay a concern of credit rating companies by persuading customers to deposit gold.

Turks have about 5,000 tonnes of gold "stashed under their pillows", Ozcan Halac, the head of the Istanbul Gold Exchange, said in a Bloomberg interview on March 7. That's equivalent to $270 billion (Dh991.7 billion), or more than a third of Turkey's $772 billion economy.

 Akbank TAS, the lender part-owned by Citigroup Inc, said on April 5 it was offering a new gold deposit account to spur savings. (source)

BANKING - KFH-Turkey profit for Q1 TL87m with 18% increase

www.ameinfo.com - KFH-Turkey Chairman and Kuwait Finance House (KFH) CEO Mohammed Al-Omar announced that KFH-Turkey's net profit in Quarter 1 reached TL87m with 18% increase compared to last year. Assets increased by 43 % to reach TL15bn, while shareholders' equity increased to reach TL1.5bn (17%). Branches increased by 25 branches to reach 183 branches. It is worth noting that 10% of deposits of Q1 come from GCC countries. (source)

BANKING - Golden Corner: Kuwait Turk kiosk that gold

www.finansglobal.com - Kuwait, Turkey 'reputation, "24 K of a product described as" new service "Golden Corner", was introduced at a press conference held in Sea? Wedding hall.
Turkish gold KoseKuveyt Kuwait Turkish Participation Bank, Turkey, which is the first product of the "Golden Corner" of the launch with Deputy Director General held a press conference attended by Irfan Yilmaz.
Wedding hall meeting organized and Sea, and the operation of the kiosk were told that gold. In addition, the meeting, Kuwait, Turkey 'reputation Gold Banking products and services for 2012 targets announced in the coming period.
Assistant General Manager of Kuwait Turkish Irfan Yilmaz, "450 Billion want to give the size of the economy at least partly a source of inert".  (source)

BANKING - Noor Islamic Bank: can open up an office in Turkey

www.finansglobal.com - Noor Islamic Bank operating in the field of Islamic finance in Turkey is evaluating opening an office announced.

Hussain Al Qemzi, CEO of Dubai-based Noor Islamic Bank, one of Turkey's Islamic finance pointed out that the most important markets in terms of focus, düşünebileceklerini to open an office in Turkey, said that in the future.

According to the news in Sabah, Turkey, Islamic banks and major collaborations in terms of funding went to Al Qemzi noted, "Turkey in terms of Islamic finance, we focused on the Gulf countries and South East Asia. One of the best markets in Turkey. Turkey as in other European countries worst affected by the global crisis. The Turkish economy is well diversified. I have a strong domestic market only and is not connected to Europe. One of the best markets in terms of Islamic finance, "he said. (source)