Finance: Islamic banking is booming in Turkey, says CB

Turkish and international bankers convened at the IFN Turkey Forum 2014 in Istanbul on Thursday to discuss Turkey's growing Islamic banking sector. Professionals from Turkey, Malaysia, Qatar and the United Arab Emirates discussed a number of key issues pertaining to various markets, trends and strategies. The Islamic banking sector is booming in Turkey, according to Central Bank of Turkey Deputy Governor Murat Cetinkaya, who said that Islamic banks have doubled their market share in the past 10 years. According to Cetinkaya, Turkey's regulatory framework, in conjunction with the recent macroeconomic stability, has paved the way for the growth of the sector.