Kuwait Turkish Participation Bank (Dubai) has received licence from Dubai Financial Services Authority (DFSA) to provide Islamic finance banking services from Dubai International Financial Centre (DIFC).
Ahmed Humaid Al Tayer, governor of DIFC, said: “From a very early stage, Islamic Finance has been one of DIFC’s focus sectors and we will continue to expand this sector within DIFC by bringing leading companies like Kuwait Turkish Participation Bank. Over the next few years, by working closely with companies in DIFC, we seek to foster the development of this sector here by actively encouraging product development and innovation.”
Abdulla Mohammed Al Awar, CEO of DIFC Authority, said: “Kuwait Turkish Participation Bank’s presence will contribute to enriching and deepening this pool of expertise. We look forward to supporting Kuwait Turkish Participation Bank in its efforts to grow its business in the UAE and the GCC region.”
Ufuk Uyan, CEO of Kuwait Turkish Participation Bank, said : “This will give us the opportunity to realise our aim to serving as a bridge for developing business ties between Turkey and UAE, given our capabilities both in Turkey and in the Gulf region.”
