Two Track Development: The Future of Islamic Finance in Turkey

Islamic Banking and Finance, No. 22, pp. 12-13, September 2007

2 Pages Posted: 7 Jan 2011

Date Written: 2007

Abstract

The potential for Islamic finance in Turkey is immense. With the right strategies, not only will more people move towards Islamic finance, which has positively occurred in other parts of the Muslim world, but also more investors will utilise the services provided by such banks. In order to fulfill this potential, these banks need to open up and create links with the international financial markets in general and the global Islamic finance sector in particular, provided that a positive working environment is provided for them. For instance, participation banks can provide a largely untapped financial market to the excess capital accumulated in the Gulf in recent years. The recent interest from Gulf Islamic finance institutions looking to penetrate the Turkish market is a clear indication of this opportunity, which will contribute to the development and growth of Islamic finance in Turkey.

Suggested Citation

Asutay, Mehmet, Two Track Development: The Future of Islamic Finance in Turkey (2007). Islamic Banking and Finance, No. 22, pp. 12-13, September 2007. Available at SSRN: https://ssrn.com/abstract=1735673 or http://dx.doi.org/10.2139/ssrn.1735673

Mehmet Asutay (Contact Author)

Durham Business School ( email )

Mill Hill Lane
Durham, Durham DH1 3LB
United Kingdom

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