Arab banks look out for Turkish investment opportunities – Turkiye Newspaper
The Secretary General of the Arab Banking Union, Wissam H. Fattouh, highlighted the significant interest of Arab banks in investing in Türkiye, stating that they have received numerous requests for investment.
“Türkiye boasts a robust banking system. We see many Arab bankers endeavoring to establish contacts with key figures in Türkiye’s banking sector,” Fattouh noted.
Fattouh underscored Türkiye’s status as a major economy and a G-20 member, emphasizing its consistent economic growth and development at the International Arab Banking Summit.
“We are receiving numerous requests to invest in Türkiye. Looking at the figures, one can observe the substantial bilateral trade cooperation between Türkiye and the Arab world, amounting to $72 billion, with significant levels of imports and exports. It is this dynamic that is driving the interest of Arab banks toward Türkiye,” Fattouh said, noting that the Arab Banking Union comprises 20 member states.
Bahrain’s largest bank to invest in Türkiye
Fattouh mentioned holding discussions with one of Bahrain’s largest banks, stating: “This bank also has investments in Libya. I spoke with the bank’s CEO, who expressed interest in investing in Türkiye.”
Fattouh emphasized the significant employment opportunities and transformative impact of the Development Path Project.
“Participants from the Arab world at the International Arab Banking Summit are enthusiastic about fostering bilateral cooperation. Essentially, there is a growing interest from member countries of the Union. We already have other banks operating in Türkiye,” he said.
Ongoing discussion between FAB, Yapi Kredi
Fattouh referred to preliminary discussions between the First Abu Dhabi Bank PJSC (FAB) and Koc Holding regarding the acquisition of a controlling stake in Yapi ve Kredi Bankasi AS, saying: “FAB is the second largest bank in the Middle East and North Africa region. They are conducting extensive feasibility studies and see abundant investment opportunities in Türkiye. Hence, they are strategizing. I cannot specify their exact plans and procedures yet as the process is ongoing, but they are planning to acquire one of the banks in Türkiye.”
“I believe this is a positive step for them. The bank holds significant deposits and assets. Therefore, I think they are well aware of what they are doing when deciding to invest in Türkiye and acquire one of its banks. They aim to facilitate economic and banking relations between Türkiye and the Arab world,” he added.
‘Türkiye boasts robust banking system’
Fattouh highlighted the high expertise in digital banking and fintech technology within Türkiye’s banking sector.
“These are areas of interest for us to learn from. Therefore, we, along with the Turkish Banking Association, are organizing delegations between the Arab world and Türkiye, and vice versa,” he said.
Fattouh emphasized the cultural proximity between Türkiye and the Arab world as an advantage for investment, stating: “The close relationship between the Arab world and Türkiye is a factor that increases the appetite of elite investors to come and invest in Türkiye.”
Türkiye’s geographical position between Middle East, Europe
Pointing out the rapid growth of participation banks in the Middle East and North Africa region, Fattouh noted significant advancements in participation banking and witnessed the development of participation banking in Türkiye.
Fattouh highlighted Türkiye’s geographical position between the Middle East and Europe, stating: “We are eager to bridge the relationship between the Arab world and Türkiye economically and in the market. Türkiye boasts a robust banking system. We see many Arab bankers endeavoring to establish contacts with key figures in Türkiye’s banking sector.”
Source: Newsroom
