BANKING - First Turkish participation bank enters Iraq

www.hurriyetdailynews.com - Albaraka Türk has become the first Turkish participation bank to open a branch in the city of Arbil in northern Iraq. The bank also plans to branch out to Qatar, Bahrain and Dubai in the near term and Europe, specifically Germany, Albania, Bosnia and Kosovo, in the medium term. “We are in Iraq to increase the presence of Turkish firms in the region, to support the development of the region and to modernize the Middle East,” Albaraka Türk’s general manager, Fahrettin Yahşi, told daily Hürriyet. Yahşi said Arbil was the most developed region in Iraq and on the brink of a re-birth, adding that Albaraka Türk was there to help the city reach its target of becoming a future Dubai. (source)

BANKING - Bank Asya press conference

www.bankasya.com.tr  - Bank Asya board member and general manager Mr. Abdullah CELİK held a press conference on 08.02.2012 and the main topics are listed below:

• Bank Asya continues ongoing negotiations with buyers regarding the sale of its Isik Sigorta (Insurance Subsidiary) shares. Depending on the offers, Bank Asya may sell entire of its shares.  (source)

OPINION - Balkans between two worlds: Turkey and Europe

sundayszaman.com - ... Turkey has long been in the banking industry of Bulgaria, Serbia, Bosnia, Albania and Macedonia. For instance, Ziraat Bankası and IK Bank (a sister company of Halk Bank) are well-established banking systems in Macedonia, while TEB (Türk Ekonomi Bankası) is already among the key players of Kosovo’s banking industry. BKT is the second leading bank in Albania in terms of banking facilities, investments, loans and financial capacity, and, according to its CEO, Albaraka Türk will open its first bank in Albania later this year.... (source)

FINANCE - Agricultural sector still lacks support (Albaraka Turk - AgriCap - Vision3)

While multilateral agencies such as the Islamic Development Bank Group (IDB) have been involved in financing the agricultural sector, the mainstream Islamic finance industry has not directly got involved in the sector in any meaningful way. (source)

BANKING - Albaraka Turkey sees growth despite problems

Albaraka, a domestic participation bank, will grow 20 percent this year and intends to open 17 more branches in Turkey by year’s end and neighboring countries despite a shrink in the sector, according to bank officials.

The bank’s growth plan depends on expanding in Turkey and abroad with methods particular to participation banks, said Fahrettin Yahşi, general manager of the lender. (source)

BANKING - Albaraka, expects 20 percent increase in net profit

General Manager of Albaraka Fahrettin Yahsi, do not expect decline in profitability in 2011, predicting net profits increase again by around 20 percent.
ISTANBUL - General Manager of Albaraka Fahrettin Yahsi, do not expect decline in profitability in 2011, a net increase of around 20 percent of the anticipated profitability, the profit and loss would be one of the factors that support partnership based on the reported profits of real estate projects.
Yahsi, in his speech at a press conference, at the beginning of the year to achieve their goals they will reach the end of the year, so for them that looks like will not be a problem in terms of both profitability and growth, he said. (source)

BANKING - Albaraka Turk Seeks Partnerships in Albania, Bosnia, Star Says

Albaraka Turk Katilim Bankasi AS, an Islamic bank based in Turkey, is in talks with two banks to set up strategic partnerships in Albania and Bosnia-Herzegovina, Star newspaper reported, citing Albaraka Turk Chairman Fahrettin Yahsi.(full story)

BANKING - Albaraka Türk eyes opening branch in northern Iraq

Emerging from the global financial crisis unscathed, several Turkish banks plan to expand into regional countries. Following Ziraat Bankası, İş Bankası and Kuveyt Türk, leading Turkish participation bank Albaraka Türk is also planning to open a branch in Arbil, northern Iraq, Fahrettin Yahşi, the general manager of the bank, said yesterday.