Arab bank granted new Turkish banking license

Posted on 02 March 2012

Istanbul, 1 March 2012 – It has been announced Lebanese bank, Bank Audi, has become the first bank in eleven years to get a Turkish license, and according to Wissam H. Fattouh Secretary General of the Union of Arab Banks the first of many, “I assume there will be more banks looking for chances in the Turkish market”, said Fattouh speaking at the Arab Turkish Banking and Financial Forum held in Istanbul. Turkish economic performance is causing the interests in Turkey as “Turkey ranks as one of the best places to operate, especially after the crisis in the United States and Europe” Fattouh said. Chairman of The Banks Association of Turkey, Hüseyin Aydın, said there are seven Arab banks were operating in Turkey today with a total asset of 24 billion USD. Source: Invest in Turkey

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