403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Türkiye, UK Strengthen Ties in Islamic Finance
(MENAFN) The Participation Banks Association of Türkiye (TKBB) and UK Export Finance (UKEF) signed a new Memorandum of Understanding (MoU) on Tuesday, marking a significant step toward boosting joint efforts in the field of Islamic finance.
This agreement was officially announced at the UK-Türkiye Islamic Finance Forum.
The forum, organized by the UK Department for Business and Trade in partnership with TKBB, aims to deepen bilateral collaboration in sectors like trade, export financing, education, and the harmonization of practices with international benchmarks.
According to the MoU, both parties will work together to provide technical assistance, maintain continuous dialogue among relevant parties, and take part in cooperative initiatives within the Islamic finance industry.
In an interview with a news agency, Mehmet Ali Akben, the Chairman of TKBB and General Manager of Vakif Katilim Bank, underlined the mutual advantages that the agreement could bring.
"The share of participation finance in Türkiye’s banking sector is currently around 8%. Our initial goal is to increase this to 15%," he stated.
Akben also emphasized that London continues to be a leading financial hub globally, while noting that Türkiye has successfully established its own financial district in Istanbul.
"We attach great importance to mutual cooperation in this context. We believe that this MoU will enable deeper collaboration between the two countries in trade and export finance, education, and alignment with international standards. We also believe that Islamic finance will become more accessible to a broader audience in Türkiye as a result," he remarked.
This agreement was officially announced at the UK-Türkiye Islamic Finance Forum.
The forum, organized by the UK Department for Business and Trade in partnership with TKBB, aims to deepen bilateral collaboration in sectors like trade, export financing, education, and the harmonization of practices with international benchmarks.
According to the MoU, both parties will work together to provide technical assistance, maintain continuous dialogue among relevant parties, and take part in cooperative initiatives within the Islamic finance industry.
In an interview with a news agency, Mehmet Ali Akben, the Chairman of TKBB and General Manager of Vakif Katilim Bank, underlined the mutual advantages that the agreement could bring.
"The share of participation finance in Türkiye’s banking sector is currently around 8%. Our initial goal is to increase this to 15%," he stated.
Akben also emphasized that London continues to be a leading financial hub globally, while noting that Türkiye has successfully established its own financial district in Istanbul.
"We attach great importance to mutual cooperation in this context. We believe that this MoU will enable deeper collaboration between the two countries in trade and export finance, education, and alignment with international standards. We also believe that Islamic finance will become more accessible to a broader audience in Türkiye as a result," he remarked.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment