FINANCE - Participation Banks form a bridge for intestment

www.yenisafak.com.tr - Savings to finance domestic sources of financing development in Turkey, Emphasizing the importance of increasing the level of Deputy General Manager Retail Banking Finance Semih Alşar Turkey, "Participation banks, on behalf of a major bridge into savings instead of direct investment brings," he said
Participation Bridge to the investment banks
Assistant General Manager of Retail Banking Finance Semih Alşar Turkey, "Our country's economy development and financing of development can be financed with domestic resources to increase the level of savings on behalf of the utmost importance. Intertwined with the corporate sector to work at this point due to participation banks, savings on behalf of direct investment into fulfills an important bridge, "he said. (source)

CAPITAL MARKETS - BMD - Fund manager sees tough year for Turkish banking

Avsar Sungurlu

By MUSHTAK PARKER | ARAB NEWS

Published: Feb 6, 2011 23:08 Updated:Feb 6, 2011 23:11

This year will be a difficult year for Turkish banking — both conventional and participation (Islamic) banking — although the latter will continue to grow in terms of market share of the total banking sector, says Avsar Sungurlu, assistant managing director of BMD Securities, one of the top fund managers and investment advisers serving the participation banking sector in Turkey. (source)

CAPITAL MARKETS - Turkey’s first Islamic fund to open after new index

Traders look at their computer screens on the trading floor of the Istanbul Stock Exchange in this file photo. Turkey’s first investment fund to comply with Islamic rules will start this year following the creation of a Sharia-compliant share index on the country’s main stock exchange. Bloomberg photo

 

Turkey’s first investment fund to comply with Islamic rules will start this year following the creation of a Sharia-compliant share index on the country’s main stock exchange. (source)

FINANCIAL MARKETS - Istanbul bourse launches participation index

In an effort to tap the growing area of Islamic banking, the Istanbul Stock Exchange launches a participation index in a ceremony. The index, comprised of 30 companies, includes giants such as Türk Telekom, BİM, Enka İnşaat, Ford Otosan and Petkim. Hüseyin Erkan, chairman of the bourse, says the exchange may also establish separate indexes for groups such as holding companies.

Top executives of Islamic lenders and the Istanbul Stock Exchange sign the protocol on the creation of a participation index at the Istanbul Stock Exchange on Thursday.

The Istanbul Stock Exchange, or ISE, launched a participation index, made up of equities that adhere to the principles of Islamic lending, at a ceremony Thursday.

The main reason for the creation of the participation index is to offer a special Islamic and domestic index “suited to the customer profile of participation banks,” according to exchange officials who spoke at the ceremony.

Pointing to the rapid and steady growth of Islamic banking in Turkey since 2004, Fahrettin Yahşi, chairman of Turkey’s Participation Banks Association, or TKBB, said the participation index will be an important service to provide standardization in the sector. Yahşi is also the general manager of Albaraka Türk, majority-owned by the Albaraka Banking Group.