Magazine: ISLAMIC FINANCE NEWS
7th October 2015 (Volume 12 Issue 40)
Turkey in transit: A falling star?
Islamic finance activity has soared in Turkey since its first Sukuk in 2009, and the authorities are seeking to quadruple Islamic banking assets to 20% by 2023: with new initiatives such as the World Bank Global Islamic Finance Development Center driving forward hopes for success. But with the latest elections coming up in November, in a country torn by internal strife and geo-political troubles and suffering from the emerging markets rout of recent months, what are the real prospects for the industry? LAUREN MCAUGHTRY takes a new look at a nation that was once one of the brightest new stars in the Islamic finance firmament — and asks whether its light is already on the wane? .........
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