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)

CAPITAL MARKETS - Commerzbank : Case Study: Kuveyt Turk Bank - a USD 350 million 5 year sukuk in Turkey attracts an international market

Overview

Commerzbank acts as Joint Lead Manager for Turkey’s second largest sukuk transaction to date. By targeting high-quality investors across the Middle East, Asia and Europe, orders exceeded the target USD350mn issue size by 60%, allowing the client to secure competitive pricing and an unusually diverse investor base.

The Challenge

Kuveyt Turk is one of the two-largest participation banks in Turkey by assets. Majority-owned by Kuwait Finance House, it operates along strict Islamic Finance principles (Shariah law). (source)

CAPITAL MARKETS - DJ Kuveyt Turk Prices US$350 Million 5-Year 5.875% Sukuk Bond At Par

zawya.com - LONDON -(Dow Jones)- Kuveyt Turk Participation Bank priced its US$ 350 million, five-year sukuk bond, one of the banks running the deal said Thursday.  (source)