Al Baraka Türk works on USD200 mil sukuk

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Al Baraka Türk currently renders its services through its 121 branches throughout Turkey and 1 branch in Iraq, 51 of which are in Istanbul and 71 in the leading industrial and commercial cities.

There are three types of banks in the Turkish banking sector, namely commercial banks, development and investment banks, and participation banks (also known as non-interest banks). There are currently four participation banks in Turkey, which are Albaraka Türk, Kuveyt Türk, Türkiye Finans, and Bank Asya.

As such, participation banking assets accounted for 5.2% of all banking assets in Turkey as at end-March 2013, up from 5.1% at the end-2012.

Participation banks’ total assets are expected to reach 10.0% of the Turkish banking system’s total by 2018.


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