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.