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)

CLIPS - Turkiye Finans clips

Some Turkiye Finans 'youtube' clips

Turkiye Finans - Tup Bekek Finansmani
Turkiye Finans Reklami
Turkiye Finans Katilim Bankasi - Kambio
Turkiye Finans  Katilim Bankasi - Acil Leasing
Turkiye Finans Kobi Bankacaligi Sektorel Paketler
Turkiye Finans  Internet Bankaciligi
Turkiye Finans Kobi Bankacaligi Lansman
Turkiye Finans Reklam Filmi 2011
Turkiye Finans Su Damlasi
Turkiye Finans  Kurumsal Tanitim Filmi
Turkiye Finans Cemal Beykal
Turkiye Finans - Genel Ihtiyac Finansmani
Turkiye Finans - Mortgage Finansmani
Turkiye Finans - Egetim Finansmani
Turkiye Finans - Hac Finansmani
Turkiye Finans Sendikayon Kredisi
Turkiye Finans  Konut Kredisi
Turkiye Finans 

Aykut Icoz, Turkiye Finans Katilim Bankasi, Istanbul DatacenterDynamics Conference Interview 

CAPITAL MARKETS - Turkiye Finans H1 up 61 percent, sukuk eyed in 6-9 mths

www.reuters.com - (Reuters) - Turkish Islamic bank Turkiye Finans' net profit rose 61 percent year-on-year to 145 million lira ($80.3 million) in the first half and it plans a $300 million sukuk, or Islamic bond, issue in the next 6-9 months, said general manager Derya Gurerk.
Gurerk told Reuters its net profit target for the whole year was 278 million lira, up 20 percent from 2011. The bank said previously it planned a sukuk issue by the end of the year. (source)

CAPITAL MARKETS - Turkey to mandate banks for sovereign sukuk sale - sources - Turkiye Finans plans corporate sukuk

www.reuters.com - ISTANBUL, July 5 (Reuters) - Turkey is set to mandate HSBC, Citi and Deutsche Bank to manage the sale of its first sukuk, or Islamic bond, banking sources told Reuters on Thursday.
The move by the Treasury, overcoming sensitivities about Islamic finance in the secular republic, should give Turkey access to a wider pool of investors via a global sukuk market estimated at more than $100 billion.
One banker said a size of $1 billion was being targeted, but that the sale amount was still unclear.
"The Treasury is about to finalise meetings about its first sukuk issue, and their choice (for the mandate) will be HSBC, Citi and Deutsche," said one senior banking source in London.
A sovereign sukuk from an economy regarded as one of the Muslim world's most progressive and successful would signal intent on Turkey's part to play a bigger role in Islamic finance.  (source)

CLIPS - Turkiye Finans 'Hac Finansmani'

source

BANKING - Turkiye Finans Will Grow 25 Percent in 2012, Aksam Reports

www.bloomberg.com - Turkiye Finans Katilim Bankası AS, a Turkish bank that operates according to Islamic rules barring interest, will grow 25 percent this year, Aksam reported, citing Chief Executive Officer Derya Gurerk.
The shareholders are committed to increasing the bank’s capital to achieve a capital adequacy ratio that will support this rate of growth, Gurerk said, according to the newspaper.
National Commercial Bank of Saudi Arabia owns 64.7 percent of Turkiye Finans, Turkish Boydak Group 21.6 percent and Yildiz Group 13.7 percent.  (source)

BANKING - Turkey finance, corporate identity, logo and emblem of renewal has changed.

www.finansglobal.com - Finance General Manager of Turkey, which has information about the renewed corporate identity Derya Gürer, "In recent years a steady growth of the financial strength fold range of applications, the many innovations we have signed. Corporate identity transformation, the results of a professional way of doing business, a reflection of our customers and our stakeholders. After that, all our efforts 'Turkey Turkey Finance, Finance' slogan by the center will continue to give direction, "he reported. Gürer, "participation in this process is perceived as banking firm to complete the long-term infrastructure and financing model will initiate an advertising campaign,'' he said.
Participation in the banking sector and banking expertise to the accumulation of Turkey with the logo and emblem of Finance, the flower symbols of the old emblem was modernized.Live dignified gray-blue gradient technology and the digital world of finance a transition to the new corporate brand identity is a dynamic structure exhibiting a red flower.  (source)

BANKING - Noor Islamic Bank does $2.2bn syndicated business in Turkey

www.ameinfo.com - Noor Islamic Bank has completed Islamic market mandates valued at over $2.2bn (Dhs8bn) in the past two years in Turkey, cementing its position as the leading UAE bank executing Shari'a compliant syndicated facilities in Turkey.

In its latest foray into the Turkish market, the bank, as an initial mandated lead arranger and joint bookrunner, successfully closed a $350m equivalent dual-currency Murabaha facility for Türkiye Finans Katilim Bankasi. Launched at $150m, the syndicated loan was oversubscribed by more than 2.5 times.

Over the past nine months Noor Islamic Bank has also been the initial mandated lead arranger and joint bookrunner for a $325m facility for Bank AYSA; a $75m facility for HALK Leasing and a $350m facility for Al Baraka Turk Bank.  (source)

BANKING - Turkiye Finans enters into USD 350 mio Murabaha Syndication

www.finansglobal.com - Turkey Finance, the total participation of 15 countries, 29 international markets, the bank provided 350 million U.S. dollars Murabaha syndication.

provided by financial markets syndicate finansUluslararası turkey Murabaha Finance General Manager of Turkey Derya Gürer Speaking at the signing ceremony, the consortium led ABC Islamic Bank, HSBC, said Noor Islamic Bank and Standard Chartered Bank undertook.  (source)

BANKING - Turkiye Finans obtains a USD 350 mio Murabaha Syndication

www.dunya.com - Finance General Manager of Turkey Derya Gürer: This syndication and corporate finance to SMEs primarily to companies in need of support, reasonable cost and kullandıracağız conditions.
ISTANBUL - Turkey Finance, the total participation of 15 countries, 29 international markets, the bank provided 350 million U.S. dollars Murabaha syndication.
Bank of Asia syndicate of international financial markets has provided Murabaha Finance General Manager of Turkey Derya Gürer Speaking at the signing ceremony, the consortium led ABC Islamic Bank, HSBC, said Noor Islamic Bank and Standard Chartered Bank undertook. (source)

BANKING - Turkiye Finans secures Murabaha Facility and Sukuk in in the pipeline

www.reuters.com - Turkish Islamic bank Turkiye Finans secured a $350 million murabaha loan, and plans to issue $300 million sukuk at the end of the year, general manager Derya Gurerk said late on Monday. (source)

BANKING - Germany for the full path of the Turkish banking sector in Kuwait

www.yenisafak.com.tr - Director General of Kuwait Turkish Horizon Wake up, demand for interest-free banking in the field believe to be an important stage in Germany said, a full application for a banking license. In Frankfurt, Germany, organized by the German banking regulatory and supervisory agency BaFin 2 Involved to make the opening speech of the Conference of Islamic Finance, wake up and practice the basic principles of interest-free banking model mentions the provision of interest-free banking model tested in crisis and who support the real economy and the remarkable success of a system that stands out from being too closely related to speculation, he said.  (source)

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)

FINANCE - Turkey is finance Murabaha syndication

www.finansglobal.com - Turkey Finance, with the participation of 15 countries, 29 of the bank provides a new Murabaha syndication.

Turkey according to a statement from Finance, ABC Islamic Bank, HSBC Bank Middle East, Noor Islamic Bank, Standard Chartered Bank Signing Ceremony on May 14 at the Conrad Hotel Syndicated assumed leadership of the consortium to be done.

The statement did not appear in the amount of syndication.  (source)

BANKING - Islamic participation banks earn $450 mln in profit in 2011

www.todayszaman.com - Participation banks, which refrain from being involved in financial activities deemed forbidden in Islamic teaching, increased their profit by 6 percent, to TL 850 million ($450 million), in 2011 compared to 2010.

According to a statement released by the Participation Banks Association (TKBB) on Monday, the financial institutions' assets and equity capital have also grown by 29 percent and 13 percent, respectively, year-on-year to TL 56 billion and TL 6.1 billion. Their assets were only TL 3.9 billion in 2003. (source)

BANKING - Turkey Finance 2011 profit of 231.6 million pounds - bond in the pipeline

www.finansglobal.com - Increased by 30 percent by 2010 compared to the size of the fund utilization raises billion liras 10:35 Turkey Finance, continues to support the economy and bank customers, an increase of 26.5 percent 13:53 billion pulled in asset size.
Important steps to reach the target point within the next five years that would carry Turkey Derya Gürer General Manager of Financial Participation Bank on the subject: "In 2012 we will be again in a rapid and effective growth strategy. The basis of this growth, largely completed in 2011, the quality of human resource development, expansion of product range, increase the quality of service, branch network expansion and has several projects such as the increase of technological investments. "He said. (source)

BANKING - Turkiye Finans Net profit has increased the bond will be issued

www.dunya.com - ISTANBUL - Turkey Finance 231.6 million pounds in 2011 while net profit increased by 13 percent, the bank plans to issue bonds without interest under the 2012 targets. Director General of Turkey Derya Gürer Financial Participation Bank, the financial results of the assessment year 2011 statement, the interest-free bonoihracı Finance and the bank's growth in Turkey as a base for supplying the necessary preparations took a long-term funds, interest-free bond issuance by the end of 2012 said they would perform.

Gürer also a fast and effective growth strategy in 2012 would be in the SME segment will continue to be one of the priority areas, he added. Turkey Finance, an increase of 13 percent in 2011 over the previous year, achieved a net profit of 231.6 million pounds. Increased by 30 percent by 2011 compared to the size of the fund utilization raises billion liras 10:35 Turkey Finance, an increase of 26.5 percent 13.5 billion pounds in asset size released. (source)

CAPITAL MARKETS - Turkey to overcome secular qualms with Islamic bond

www.reuters.com -
* Sovereign sukuk in 2012 could raise several billion dollars
* Would pave way for corporate issues, set benchmark
* Could be used to fund large projects
* Turkish non-financial firms keen to tap market

By Seda Sezer and Nevzat Devranoglu

ISTANBUL, Feb 22 (Reuters) - Turkey's government plans its first-ever issue of Islamic bonds this year, overcoming sensitivities about Islamic finance in the secular republic as it seeks to tap a rich pool of investors flush with oil money.

A sovereign sukuk issue from an economy regarded as one of the most progressive and successful in the Muslim world would signal intent on Turkey's part to play a bigger role in Islamic finance. The size of the global sukuk market is estimated at more than $100 billion.

"It will be like ringing a bell and attracting all the attention," said Murat Cetinkaya, deputy chief executive for treasury at Kuveyt Turk, an Islamic bank that has been a trend-setter for corporate sukuk issues in Turkey. (source)

PUBLICATIONS - Islamic Finance News GUIDE 2012

Turkey: A bumper year for Islamic finance 

 Aytug Buyukatak and Burak Gencoglu

The Turkish financial market maintained its constant development in 2011 and recent reports from reputable international financial institutions project that this development will continue in 2012. In 2011, Sukuk was introduced to the Turkish market by a participation bank, Kuveyt Turk Katılım Bankası, based on the new communiqué on lease certificates which entered into force for the first time on the 4th April 2010. Another significant development for the Turkish legal and financial system is the new Turkish Commercial Code (TCC) and Code of Obligations, which will both enter into force on the 1st July 2012.

Full Guide
Turkey article

FINANCE - ECONOMY - OIC - Shift in Trade Axis Starts Bearing Fruits

turkishweekly.net - Turkish government’s economic and political approach to the Muslim world in recent years, once triggered heated arguments discussing the axis of the country’s trade and politics shifting from West to East, today leads to become “one of the most promising new economic axes in the world,” according to a recent report by National Commercial Bank (NCB).

Overall Turkish-Gulf Cooperation Council (GCC) trade rose more than tenfold from $1.5 billion in 1999 to $16.1 billion in 2008, according to the report by Saudi Arabia’s largest lender which also owns controlling shares in Türkiye Finans in Turkey. (source)