Turkey a Rare Bright Spot in Islamic Finance's Forgettable Year
Daria Solovieva
dariasolo
November 16, 2015 — 2:55 AM EST
In a year to forget for the Islamic finance industry, this month’s Turkish election may prove the high point.
Two Turkish banks, Kuveyt Turk and Albaraka Turk, are marketing international sukuk issues this week in what may herald a revival of the Shariah-compliant industry in the country after the AK Party regained its parliamentary majority this month. The government’s Islamic drive had foundered following a previously inconclusive election in June as sukuk sales dwindled and the largest-listed state lender halted plans to set up a Shariah-compliant unit.
More:Turkey a Rare Bright Spot in Islamic Finance's Forgettable Year - Bloomberg Business