Turkey’s Halkbank To Raise Paid-in Capital To 2.25 bn Lira To Set Up Islamic Lender

TURKEY- State-run lender Halkbank said on Friday it would increase its paid-in capital by 80 percent to 2.25 billion lira ($972.4 million) to set up an Islamic lender.

The bank made the announcement in a filing with the stock exchange. Turkey has four non-state Islamic banks, and state Ziraat Bank has received regulatory approval to establish an Islamic finance unit as well.

Originally published on www.reuters.com