BANKING - Turkiye Finans : Derya Gürerk Takes Office As General Manager

Yunus Nacar, a member of Board of Directors and General Manager at Türkiye Finans Katılım Bankası, retired on June 1, 2011. Veysel Derya Gürerk, Assistant General Manager in charge of Transformation and Project Management, was appointed to the position of General Manager, which became vacant upon retirement of Mr. Nacar. (source)

CAPITAL MARKETS - Turkish Islamic banks plan to sell bonds

Türkiye Finans, led by Yunus Nacar, plans to sell at least $300 million in Islamic bonds this year. 
 

Turkey’s Islamic banks are planning sukuk sales to take advantage of both the lowest borrowing costs in more than five years and the rising demand for the country’s securities.

Türkiye Finans, Kuveyt Türk and Albaraka Türk, all at least part-owned by Persian Gulf lenders, said they plan to offer Islamic bonds this year. (full story)

Banking - Boydak: Turkey’s participation banking a success story

Participation banks have encountered serious difficulties a number of times in the past but have managed to post strong growth and achieve close to a 10 percent share in the overall loan volume of the Turkish banking system, Türkiye Finans Chairman Mustafa Boydak said on Friday. “It is a really great success story,” said Boydak, who is also the president of the Kayseri Chamber of Industry. “Participation banks went through tremendous hardships several times, including when some saw them as nearly bankrupt. But when we look at the current situation, we see that these institutions extend nearly 10 percent of total loans provided by the banking system in Turkey. This is very important. Türkiye Finans is proud to be part of this sector,” he said.