"BDDK Grants License for 'Katılımevim Participation Bank Inc.'"

The Banking Regulation and Supervision Agency (BRSA) has authorized the establishment of a participation bank named "Katılımevim Katılım Bankası AŞ." The BRSA's decision on the matter has been published in the Official Gazette. Accordingly, it has been decided to allow the founding partners, Katılımevim Tasarruf (IS:KTLEV) Finansman AŞ, Serdar Turhan, Ömer Burkay, Ahmet Özcan, and Selay Turhan İnce, to establish a participation bank named "Katılımevim Katılım Bankası AŞ" with a founding capital of 10 billion TL in Turkey. In another decision, the BRSA has revoked the activity license of AGS Altın Gezegen Varlık Yönetim AŞ, in which Saad Al-Janabi is a founding partner, due to losing the conditions required for founders as stipulated in the first paragraph of Article 8 of Banking Law No. 5411.