Published: December 1, 2009
KFH-Turkey has launched its operations in the Dubai International Financial Centre (DIFC) as Kuwait Turkish Participation Bank (Dubai).
KFH-Turkey is the first bank to receive a license under ‘category five’, designed for Islamic banking activities. Kuwait Turkish Participation Bank (Dubai) operates as a fully-fledged Islamic financial institution, providing Islamic financial services. KFH-Turkey was also the first bank to receive a license to operate in Germany.
Ufuk Uyan, CEO of KFH-Turkey, says: “This initiative opens the door in banking services to many companies, especially Turkish companies now operating in Dubai, Qatar, Oman, Saudi Arabia, and throughout the Gulf region. The bank also serves as a financial consultancy and provides intermediary services for companies in the region with a focus of investment in Turkey.”
KFH-Turkey has had 20 years of partnership between Kuwait and Turkey. It operates 130 branches in Turkey.