Turkish Participation Banks Sign MoU to Help Foster Development of Islamic Finance in Djibouti

The Participation Banks Association of Turkey (TKBB) has signed a memorandum of understanding (MoU) with Djibouti’s Economy and Finance Ministry on the 9th of March 2021, to help foster the development of the Islamic finance sector in the African country.

Why it matters?

The MoU will enable Djibouti to learn more about finance models from Turkish participation banks. The agreement will support the transfer of knowledge, technical know-how and skills to stakeholders and help with the development of the Islamic finance industry in Djibouti. According to Metin Ozdemir, Head of the TKBB, Turkey has provided support to Islamic finance over the past 20 years, and the TKBB is promoting the participation finance sector, not only in Turkey, but also in...