As Turkey has become the investment hub in the Middle East, it has been so important to open some Islamic banks that serve Islam investors who keen to work in accordance with the principles of true Islam. It is not only about investors and merchants but there are also many students trying to deal with Islamic Banks.
Kuwait Turk Bank:
The Kuwaiti Turkish Bank was established in Turkey in 1989 and is the third old Islamic bank Turkey.
The bank focuses its services mainly on financing and serving the retail institutions sector and small and medium enterprises through its 341 branches, and in May 2006 the bank began providing its services under the name of the Kuwaiti Turkish Bank.
The shareholding structure of the bank consists of 62.2% quota for Kuwait Finance House, 18.7% for the Turkish Endowment Authority, 9% for the Islamic Development Bank, 9% for the Kuwait Social Security Organization, and 1.04% for other shareholders.
The most important values of the bank are accurate banking services, fairness, equality, professionalism, team work, modernity and safety.
The Kuwaiti Turk bank provides its electronic banking services on the Internet , smart phones and call centers, and it should be noted that the Kuwaiti Turk Bank has adopted five-year growth conditions for the years 2013-2018 with the aim of growing within in Turkey in addition to external expansion, as the bank previously established a branch in Bahrain and another branch in the United Arab Emirates in the city of Dubai, and recently obtained an initial license to conduct its business in Qatar, and the bank is looking forward to establishing another subsidiary bank in Germany.
Services provided by the bank to foreigner residents in Turkey:
The possibility of opening a checking account, savings account, or deposit account.
-The deposit account is that is being used for depositing gold or money with monthly benefits according to the principles of Islamic.
The possibility of obtaining a purchasing credit card.
Easy money transfer service through Western Union service or directly if there are bank branches in the country to which the money is to be transferred.
The housing provision and sale service with installments, the value of which is determined according to the agreement of the two parties.
Providing individual and commercial Islamic loan with the same conditions as Al Baraka Turk loan conditions. As for individual loan, the bank requests a copy of the employment contract or work establishment, and health insurance, while the commercial registration document and the establishment of work or investment and a short summary report on the company's capital are required to provide the commercial loan.
What are the requested documents for a single account:
A business, education or tourism residence that includes a tax number.
A copy of the passport, and it is required to show the original copy of the passport in the transaction.
Address.
When documents are applied and registration is accepted, the account is opened and the account card is issued at the moment of registration or one or two days after the registration. After you obtain the card , its password can be set by calling the number 4440123 , choosing the language and continuing to give the requested information to the employee and then he will give you an opportunity Set a password.
Regarding the commercial account, the following documents are requested:
The passport of the company’s owner.
His residence in Turkey.
The company's commercial registration document.
A summary report of the company's capital.
It is worth mentioning that the commercial account's benefits are wider than the individual account and are determined according to the bank’s instructions and may change from day to day. As for the password procedures for the card, they are the same as for the individual card.
