CAPITAL MARKETS - Turkey - Factors to Watch on March 12

www.reuters.com - KILER GYO

Kiler GYO, a Turkish real estate investment trust, may issue a sukuk over $100 million in the fourth quarter, Dunya newspaper reported citing parent Kiler Holding chief executive Yunus Nacar. (source)

CAPITAL MARKETS - Market Review

BLOOMBERG.COM - TURKIYE FINANS KATILIM BANKASI AS: The Turkish bank owned by the National Commercial Bank of Saudi Arabia plans to sell at least $300 million of Islamic bonds this year, chief executive Yunus Nacar said. Turkiye Finans will sell the securities in the second half, Nacar said.

KUVEYT TURK KATILIM BANKASI AS: The Turkish unit of Kuwait Finance House (KFIN) KSC plans to sell five-year sukuk, Ufuk Uyan, the bank’s CEO said, without elaborating on when the offering will take place. Uyan said in August 2010 the Istanbul-based lender would sell more than $100 million of sukuk in 2012. 

ALBARAKA TURK KATILIM BANKASI AS (ALBRK): The Istanbul-based lender hired banks to sell $180 million of sukuk outside Turkey, CEO Fahrettin Yahsi said in an interview. Islamic banks in Turkey may sell as much as $1 billion of sukuk this year, Yahsi told Bloomberg HT television May 30.  

... (source)

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)

Country Report: Turkey - Staying the course (Islamic finance grows)

Turkey has bounced back from a sharp economic contraction to become one of the region's best performers. Its prospects are brighter than ever.
 

Turkey's constitutional referendum last month gave a boost to prime minister Recep Tayyip Erdogan's ruling AK Party, as voters approved 26 amendments to the country's 1982 Constitution. The poll was an important test for the government ahead of next year's general election.
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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.