CAPITAL MARKETS - KFH unit’s second sukuk stirs delight in Turkish markets

As Kuveyt Turk Participation Bank (KTPB), which is majority owned by Kuwait Finance House (KFH), one of the largest Islamic banks in the world, ponders the successful closure last week of its $350 million 5-year Sukuk Al-Ijara, its second issuance to date, there is already talk of future forays into the global financial market to raise even longer term funding subject to the usual caveats of timing and market conditions. (source)

EVENTS - Malaysia and Turkey exploring opportunities in ‘New Silk Route’

In the corridors of power in Ankara, a new thinking is emerging especially among the “Young Turks” of the Turkish establishment.

A combination of the aftermath of the global financial crisis; the seemingly intractable euro zone debt crisis with neighboring rival, Greece, bearing the brunt of the criticism; and endless obfuscation and simmering opposition by some diehard opponents to Turkish membership of the European Union; and the uncertainty in the Middle East and North Africa (MENA) region because of the so-called “Arab Spring,” is forcing Ankara to look beyond its traditional trading partners and markets in the EU and the Middle East and to consider alternative ways of raising funds and investments into the country. (source)