Islamic Asset Management Company, which will be found in partnership with Aktif Bank and. ICD (Islamic Corporation for the Development of Private Sector)

​Islamıc Asset Management Company Is Being Established In Partnership With Aktif Bank And Icd

Islamic Asset Management Company, which will be found in partnership with Aktif Bank and ICD (Islamic Corporation for the Development of Private Sector), will focus on establishment of different funds, management consisting of a team of professional and experienced people, and its presentation to the investor group.

Adding a new one to its successful activities in the field of Islamic finance, Turkey’s most innovative Bank, Aktif Bank, with Islamic Private Sector Development Organization – ICD, undertaking the mission of the development of the private sector in Islamic countries operating under Islamic Development Bank, decided to establish a joint venture to play a leading role in Islamic asset management in Turkey. As a result of the partnership between ICD and Aktif Bank, it is planned to found a new Islamic Asset Management Company (AMC).

Following the Shareholders Agreement signed on August 21 by

CEO of Islamic Private Sector Development Organization – ICD, Khaled Al-Aboudi, and Aktif Bank General Manager, Serdar Sumer, the parties will make an application to the Capital Markets Board.

Having commented on ICD and Aktif Bank partnership, CEO of ICD, Khaled Al-Aboodi said that AMC will bring a new breath in the sense that Capital Markets will develop in Turkey, which will lead to increased diversity. Saying that they will serve as a bridge in order to bring the resources to be gained through major investment fund resources in the real economy, Al-Aboodi stated that AMC’s main activities will be establishment of different funds, management consisting of a team of professional and experienced people, and its presentation to the investor group. In addition, Al-Aboodi said that they predict a venture capital investment fun among the funds to be found within the body of AMC in the first stage, and, products sets such as real estate investment fund, mutual funds based on sukuk fund, participation index mutual fund will be the ones among funds to be founded in the next periods, and he also stated that each of these separate funds will have different target sizes.

Having made a statement on the issue, the General Manager of Aktif Bank, Serdar Sumer said that they are aiming to start the activities of venture capital investment funds with a core capital of $ 20 million in the first phase. Having said that ICD’s participation in this investment provided a full assurance to the interest-sensitive segment with regard to Islamic finance principles, as well as it brought a considerable prestige to the funds, Sümer stated that they are aiming to bring funds from Malaysia as well as Gulf region with this fund in the transactions of venture capital incestment funds.