Al Omar : KFH Turk obtains license to operate in Germany

This license will allow KFH -Turkey to introduce Shariah compliant banking services to the German banking system, known. The new branch in Mannheim aims to cover the financial requirements of a wide customer base in the German market, especially since there is a growing demand for Islamic services and products.

He added in a press statement that this license is a significant step in its geographical expansion strategy of KFH-Turkey, where it can enter new promising markets. In addition to that, KFH-Turkey's operations in Germany will cement its strategic plans to strengthen the economic relationship between Turkey and the European Union countries on the one hand, and between these countries and the GCC on the other.

Such a step will strengthen the bank's approach towards Central Asian countries and the Russian republics. He stated that KFH-Turkey is planning to open more branches in other German cities, and will apply for licenses to open banks in new European countries.

The CEO of KFH-Turkey, Ufuk Uyan, expressed his delight, stating that the bank had been working towards this goal for a long time and had achieved remarkable success in overseas operations. He pointed out that they have opened their latest Representative Office in Kazakhstan and have conducted activities to raise awareness about interest-free banking in Kazakhstan in its attempt to establish connections and fields of cooperation in numerous projects, such as development, infrastructure, power, and transportation. He added that KFH-Turkey managed to build a network of branches in various Turkish areas, and plans to increase it branches from 113 to 125 that offer banking, commercial, and investment services.

KFH-Turkey focuses on its strategic role in developing and reinforcing the economic and commercial relationships between Kuwait and the GCC on the one hand, and Turkey, Europe and Central Asian countries on the other.