Turkey’s Presidential Finance Office Sets Up Participation Finance Department: Official Gazette

Turkey has established a Participation Finance Department within the Presidential Finance Office to capitalise on the opportunities provided by the developing participation finance sector. This was announced in an Official Gazette issued on the 9th of February 2021.

According to the statement, the new department will concentrate on raising awareness towards participation finance and will also focus on strategy development in the field. In addition, the new office will be used to boost cooperation amongst institutions in the public and private sectors, universities, as well as non-governmental organisations, with the objective of improving performance in Islamic finance.

Turkey is keen on strengthening its performance in international financial markets. In 2020, the c...