CAPITAL MARKETS - Moody’s move whets appetite for sukuk certificates in liras

www.hurriyetdailynews.com -Turkish participation banks are eager to begin issuing lira based sukuk certificates, as Moody’s upgrades Turkey’s sukuk issue outlook to positive with a ‘Ba1’ ratin.

Moody’s upgraded yesterday its outlook for Turkey’s sukuk issue to positive and gave it a “Ba1” rating on the heels of news that the Turkish Treasury had mandated three international banks – Citigroup, HSBC and Liquidity House – to issue “sukuk certificates,” or Islamic banking vehicles.

The new issue is expected to be completed in two weeks as Turkish banks are eagerly waiting for the Turkish Treasury to finalize the process for a Turkish Lira-based sukuk issuing regulation. Deputy Prime Minister Ali Babacan had previously said on several occasions that the Treasury was working to shape the regulation before the end of 2012.  (source)

BANKING - Feyzullah Eğriboyun named new vice president at Bank Asya

Feyzullah Eğriboyun has been appointed the new executive vice president responsible for treasury, financial institutions and investor relations at Bank Asya, the bank announced on Tuesday.

An electrical-electronics engineering and mathematics graduate from İstanbul's Boğaziçi University, Eğriboyun acquired a master's degree in applied mathematics and a Ph.D. in mathematical finance from Carnegie Mellon University in the United States. (source)