Turkey's giant projects to fuel Islamic finance boom
04 September, 12:34
(ANSAmed) - ISTANBUL, SEPTEMBER 4 - Turkey's large infrastructure investments may boost the country's Islamic finance sector which has already been witnessing a boom, daily Hurriyet reports quoting the country's top capital markets officials as saying. "Islamic finance tools may be benefited from in (financing of) in Turkey's mega projects like bridges, airports, and Kanal Istanbul. These projects are compatible with the Islamic financing structure," Ibrahim Turhan, chairman of Turkey's stock exchange Borsa Istanbul said yesterday, speaking at the Islamic Finance News Roadshow. Vahdettin Ertas, Capital Markets Board (SPK) chairman, also said that they "believed" the private sector's sukuk, an Islamic compliant bond, export needs would increase due to the large infrastructure investments on the agenda. Currently, the Treasury's sukuk exports have outpaced USD 5 billion, while the private sector has exported more than USD 1.5 billion.
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