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Supported by: Musiad UK "The Islamic banks are very much in vogue recently... It's a very high-growing segment which is addressing some philosophical concerns, so they have a niche. And we think that this niche will keep on growing" Tezmen, Tera Stock Broker Islamic Finance In Turkey 2009 Turkey is internationally recognized as being one of the top emerging markets, due to its good infrastructure, abundant natural and human resources, and complemented with the professional business-promoting events. These attributes all serve to render Turkey a perfect hub bridging both east and west. Turkey has been utilizing Islamic finance techniques since the late 1980s through financial institutions known as "Special Finance Houses" (Ozel Finans Kurumu), which became the "Participation Banks" (Katılım Bankası) with the enactment of the Banking Act No. 5411 ("Banking Act") on 1 November 2005. Levels of Middle East investment in Turkey have been significantly increasing in recent years. The Islamic banking sector in particular has been on the receiving end of large sums but other sectors are starting to attract heavy Middle East interest including insurance, energy and real estate. |
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| Summit Secretariat - Islamic Finance In Turkey 2009 | ICG, First Floor Albion House, 470 Church Lane, Kingsbury, London NW9 8UA, UK |
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