Bank of Bahrain licenses Turkish bank branch

GMT 15:18 2015 Wednesday ,04 March

Arab Today, arab today Bank of Bahrain licenses Turkish bank branch

Turkey Finans Katilim Bankasi
Manama - BNA

The Central Bank of Bahrain (CBB) has granted a license to Turkey Finans Katilim Bankasi A.S., to open a branch in Bahrain.
The license allows the bank to expand its activities as wholesale bank (Islamic Principles) from Kingdom of Bahrain.
The proposed branch is expected to contribute in strengthen its relationship with the Gulf Region. Hereby it is targeted to engage with existing and potential investors; special focus will be given to Financial Institutions (local and international), Government Agencies (local & international), Corporate Customers and High Networth Individuals will be dealt selectively.
The Bahrain office will be will the first branch outside Turkey. The bank is regulated by the Banking Regulation and Supervision Agency (BRSA) in Turkiye.
The bank was formally founded in 1991 by a group of entrepreneurs and then it merged with other groups under the name of " Finans Katilim Bankasi A.S: The majority of the bank 67% is owned by the National Commercial Bank (NCB) of Saudi Arabia (TDWL 1180).
Mr. Ahmed Al-Bassam, Director of Licensing & Policy, Central Bank of Bahrain "We welcome Turkey Finans Katilim Bankasi A.S. decision to choose Bahrain as a hub for reaching the Middle East Market. There are a historical trading and financial relationship between Arabian Gulf and Turkey due to the economical growth in those two regions. Furthermore, Turkey banks in Bahrain will support the bilateral trade and investments between the regions".

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