BANKING - Bank Asya introduces interest-free private pension plans

www.todayszaman.com -Bank Asya will begin collecting interest-free funds through its newly established firm to provide private pension plans, also known as Bireysel Emeklilik Sistemi (BES), in Turkey.

Bank Asya, one of the participation banks in Turkey, will be introducing the option of private pension plans to its customers in the near future. General Manager Abdullah Çelik called the service a new development for participation banks and said, “By adding BES to our services, we have expanded our reach.” (source)

BANKING - 'Turkish individual retirement market to exceed TL 100 bln by 2023' - Kuveyt Turk

Mehmet Bostan

Mehmet Bostan, the head of Vakıf Emeklilik, a Turkish individual retirement and life insurance company, tells Let's Talk Business that the Turkish individual retirement market -- with its strong growth potential -- is likely to exceed a total fund size of TL 100 billion by 2023, the 20th year of its introduction to Turkey. (full story)