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 - Kuwait Finance House’s Turkish Unit Increases Profit 18%

www.businessweek.com - Kuwait Finance House KSC (KFIN) said first- quarter profit at its Turkish unit, Kuveyt Turk Katalim Bankasi AS, rose 18 percent from a year earlier to 87 million lira ($47 million). The Istanbul-based bank opened 25 new branches during the period, bringing the total to 183, the lender said today in an e-mailed statement. (source)

BANKING - Albaraka Turk Gains After Dunya Report of Gulf, Balkan Expansion

www.businessweek.com - Albaraka Turk Katilim Bankasi AS (ALBRK), a Turkish Islamic bank, climbed after Dunya reported it would expand into the Middle East and Balkans, citing Chief Executive Officer Fahrettin Yahsi.

The shares added 1.6 percent to 1.96 liras at 11:25 a.m. in Istanbul, heading for their highest on a closing basis in three weeks. Shares on the overall banking index fell 0.3 percent to 116,770.2.  (source)

BANKING - SHARJAH Islamic bank planning to open shop in Turkey

businessweek.com - Sharjah Islamic Bank (NBS UH), a United Arab Emirates-based lender, may buy or establish an Islamic bank in Turkey, deputy chief executive Ahmed Saad said. (source)

CAPITAL MARKETS - Albaraka Group, Turkey Unit to Sell $500 Million Sukuk in 2011

Businessweek.com - Sept. 24 (Bloomberg) -- Albaraka Banking Group BSC and its unit in Turkey may raise a total of $500 million in Islamic bonds this year, Chief Executive Officer Adnan Ahmed Yousif said.

Albaraka Turk Katilim Bankasi AS, the Shariah-compliant Turkish unit of the bank, may sell about $200 million in sukuk by November, while the Bahrain-based parent may raise about $300 million from a similar sale by the end of the year, Yousif said in an interview in Washington today.  (source)

BANKING - Turkish Banks Gain After JPMorgan Says Shares Appealing (Bank Asya)

June 24 (Bloomberg) -- Turkish banks rose, sending the benchmark gauge for lenders to the highest level in almost two weeks, after JPMorgan Chase & Co. said the industry’s ratings may improve after the third quarter and valuations are “looking appealing” following recent losses. (source)