Kuwait - Mubasher: The market share of Kuwait Finance House- Turkey (KFH-Turkey) accounts for 37% of the participation banking in Turkey,” CEO of KFH Group Mazin Saad Al-Nahedh said according to the company’s statement on Sunday.
“The total assets of participation banks as percentage of the total assets of banks in Turkey account for 5 to 6% and is expected to surge” he added.
KFH Group has no intention for new acquisitions in Turkey in the current time, however, nothing will prevent KFH from that if the opportunity is good and the prices are suitable, Al-Nahedh said in his interview with Sky News Arabia TV.
“Kuwaiti banks have strong capital base. The capital adequacy ratio (CAR) of KFH-Group surpassed 17% by the end of Q1,” according to Al-Nahedh.
“The failed coup in Turkey will diversely impact the investment in Turkey on the short term only, while the medium and long terms will witness robust growth and stability as the government won votes of confidence from its people, which lead to more political and economic stability, thus further lures investors,” he said according to the statement.
There have been KWD 700 million ($2.31 billion) sovereign debt issuances to Islamic banks since April, the CEO said, adding that the share of KFH accounts for 50% representing its market share of Islamic banks in Kuwait.
