daily news Hürriyet

[daniel c]

ISTANBUL –

First Turkish participation bank enters Iraq

Albaraka Türk has become the first Turkish participation bank to open a branch in the city of Arbil in northern Iraq. The bank also plans to branch out to Qatar, Bahrain and Dubai in the near term and Europe, specifically Germany, Albania, Bosnia and Kosovo, in the medium term.

“We are in Iraq to increase the presence of Turkish firms in the region, to support the development of the region and to modernize the Middle East,” Albaraka Türk’s general manager, Fahrettin Yahşi, told daily Hürriyet. Yahşi said Arbil was the most developed region in Iraq and on the brink of a re-birth, adding that Albaraka Türk was there to help the city reach its target of becoming a future Dubai.

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