Aktif Bank, the largest privately-owned investment bank in Turkey, has executed and signed a cooperation agreement with BMG Financial Group, one of the leading financial consultancy companies in Saudi Arabia

Aktif Bank, the largest privately-owned investment bank in Turkey, has executed and signed a strategical cooperation agreement with BMG Financial Group, one of the leading financial consultancy companies in Saudi Arabia, to act jointly in the new investments, mergers and procurement activities. Under the scope of the agreement prescribing particularly that the mergers-procurement and new investments in the health and finance field, the funds to be founded by Mukafat Portfoy Yonetimi, which was established under cooperation of Aktif Bank and Islamic Development Bank, will serve as a platform within the framework of this cooperation.

BMG Financial Group- Aktif Bank Strategical Cooperation Agreement has been signed at the meeting of DEIK (Foreign Economic Relations Board) Turkey-Saudi Business Council in the presence of Serdar Sumer-CEO of Aktif Bank, Basil Al Ghalayini, CEO of BMG Financial Group, Nihat Zeybekci, Minister of Economy and Majid Abdullah Alkabi, Minister of Commerce and Investment of Saudi Arabia.

Giving a speech at the ceremony, Serdar Sumer, CEO of Aktif Bank, stated that they are planning to engage in significant cooperations in new investments with a major and important strategical country for Turkey, such as Saudi Arabia. Underlining the importance of the larger cooperations with different countries for the growth of Turkish Economy, Sumer noted that there are great opportunities in Turkey for the Arabian investors in this respect and said: "Turkey shows its determination to increase its business volume with Saudi Arabia, one of its strategic partners, in each platform. As Aktif Bank which is the largest investment bank in Turkey and offers different products, we believe that we will considerably contribute to Saudi Arabian businessmen through the new Islamic investment modelings within the framework of these cooperations. We will carry out the new mergers, procurements and new investments to be developed under the scope of this agreement through our company “Mukafat Portfoy Yonetimi” which will bring different products and a new Islamic investment model to Turkey."

Mukafat Portfoy Yonetimi, which will be established completely within this month and which will serve with its new products as of January, has been founded through participation of Aktif Bank by 80% and ICD, the subsidiary of Islamic Development Bank, by 20%. Intending to give a new impulse to the local and international interest-free finance markets, Mukafat Portfoy Yonetimi aims to become one of the gateways of the foreign investors to Turkey.

Through the agreement assuring the mutual intents and opinions, Aktif Bank and BMG Financial Group will jointly act in the investments to be performed in Turkey by Saudi Arabia and other countries or vice versa, and cooperations, particularly mergers and procurements.