GRATA International assisted European Bank for Reconstruction and Development in preparation of the EBRD Transition Report on the legal and regulatory framework of state-owned companies across the EBRD regions.
Islamic Finance challenges in Turkey
Having almost 40 years of history, the Islamic banking sector in Turkey currently only has a 5–6% share of the fi nance market in the country. Out of 40 active banks, six are operating (excluding investment and development banks) under the Participation Banks Association of Turkey (TKBB) as Islamic banks and they have not yet reached the average level of their conventional competitors in terms of profi ts, total assets, deposits and loans.
Considering active economic cooperation between Turkey and CIS countries, GRATA International pays special attention to making its positions in Turkey even stronger. In line with this strategy, we are reinforcing our international team with the addition of Baspinar & Partners law firm as our associate office.