Turkey’s Central Bank to Establish Participation Banking Division to Boost Efficiency, Development and Financial Stability

The Central Bank of the Republic of Turkey (CBRT) has decided to establish a Participation Banking Division under the Banking and Financial Institutions Department at its Head Office, according to a statement released on the 3rd of February 2021.

The statement revealed that the Participation Banking Division will be established to increase the efficiency of CBRT’s relations and work with participation banks. The Division will help contribute to the participation banking sector’s development and financial stability, and will also assist with relations with international institutions that work in the participation banking field more effectively.

Turkey is well-positioned to become a hub for participation in the global Islamic banking and Islamic finance sec...