Islamic Development Bank plans to acquire Turkish Adabank

Islamic Development Bank plans to acquire Turkish Adabank

The Islamic Development Bank (IDB) intends to acquire the Turkish Adabank, the head of the Banking Supervision Authority of Turkey (BDDK), Ali Akben said. He also noted, if the deal is signed, Adabank will be issued a license to operate on an interest-free basis, which is the main principle of the work of Islamic banks.

According to the head of the BDDK, other investors are also showing interest in the purchase of Adabank, the Turkish media report.

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