Asya Finans Participation Banks

Fund manager sees tough year for Turkish banking

Turkey with a population nearing 70 million is an untapped market for participation investment funds especially equities, exchange-traded funds (ETFs), exchange traded commodities (ETCs) and index-linked equity funds. These funds of course are not only aimed at Muslim investors but also at those interested in alternative ethical and socially-responsible investment products.
Following the introduction of the Banking Act 2007, the country’s four participation (Islamic) banks — Albaraka Turk, Kuveyt Turk, Turkiye Finans and Asya Finans Participation Banks — were brought under the same provisions of the above act, which meant that the regulatory regime was exactly the same as for the conventional banks.
According to Sungurlu, the Kuveyt Turk GoldPlus ETF is a major step by participation banks in the Islamic investment space.

Syndicate content