A key bridge between Turkish businesses and Gulf investors
dubai — Kuwait Turkish Participation Bank (Dubai) Limited (KT Dubai) is an Islamic financial institution licensed and regulated by the DFSA to operate in the Dubai International Financial Centre (DIFC). KT Dubai only provides financial services to professional clients which includes banks and financial Institutions.
KT Dubai is 100 per cent subsidiary of Kuwait Turkish Participation Bank (Kuveyt Turk Turkey), which is the leading and well known interest-free bank in Turkey with a very strong capital structure, well established track record and financial performance. It delivers innovative products and offers high service quality.
Kuveyt Turk Turkey is owned 62 per cent by Kuwait Finance House Kuwait, 18 per cent by Turkish General Directorate of Founda- tions, nine per cent by Public Institution for Social Security Kuwait, nine per cent by Islamic Development Bank Saudi Arabia and the remaining two per cent by other investors. Kuveyt Turk Turkey is rated BBB by Fitch.
Shareholders equity is $1.21 billion and asset size has reached to $14 billion while capital adequacy ratio is 17.06 per cent by Q2 2016. It has more than 380 branches across Turkey in strategic locations and one wholesale branch in Bahrain.
In addition to operations in Turkey and the GCC, in 2015 Kuveyt Turk Turkey has received an Islamic banking license in Germany (KT Bank Germany), which is targeting and serving both Muslim and non-Muslim populations looking for high quality Islamic banking services.
KT Bank Germany offers full fledge Islamic banking services to retail, SME and corporate clients. In near future, it will also initiate euro clearing services for banks.