Turkish Islamic Banks Gave Mostly Construction Loans
1/20/2012 3:54:47 PM
Istanbul: Turkey’s Islamic banks gave most loans to construction companies and will continue lending to Turkish firms this year, Sabah reported.
The industry awarded 14.8 billion liras ($8 billion) of loans to constructors as of November, 6.5 billion liras to trade and retail companies and 3.8 billion liras to textile firms, the Istanbul-based newspaper said citing Fahrettin Yahsi, chief executive of Albaraka Turk Katilim Bankasi AS (ALBRK) and head of an association representing the banks.
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