Mukafat Portfoy Yonetimi Gives a New Impulse to Interest-Free Finance Markets

Aktif Bank has incorporated "Mukafat Portfoy Yonetimi Sirketi", which will introduce a different model for interest-free investments in Turkey, in partnership with ICD, a subsidiary of Islamic Development Bank.

The authorization of CMB (Capital Markets Board) in relation to the business activities of Mukafat Portfoy Yonetimi Sirketi, which was incorporated by Aktif Bank, the largest privately-owned investment bank in Turkey, and ICD, a subsidiary of Islamic Development Bank, to engage in management of interest-free ​portfolio, has been issued on the Public Disclosure Platform (KAP).

Having been founded through the participation of Aktif Bank by 80% and ICD, a subsidiary of Islamic Development Bank, by 20%, Mukafat Portfoy Yonetimi will offer different products and efficient investment alternatives to the local and foreign corporate and individual investors intending to invest in interest-free financing models all over the world. Intending to give a new impulse to the interest-free finance markets, Mukafat Portfoy Yonetimi also aims to become one of the gateways of the foreign investors to Turkey.

Serdar Sumer, CEO of Aktif Bank, stated that there are many great opportunities in Turkey in respect of Islamic financing and accordingly, they intend to develop customized solutions to meet the needs of investors. Noting that the rate of Islamic finance products is now 5% in total capital market in Turkey and that it should rise to about 15%, Sumer said; "We, as Aktif Bank, have decided to carry out a special project in this field after we saw the desire of the investors both in Turkey and abroad in respect of Islamic financing. As Aktif Bank, we will serve the investors with unique and brand-new products in terms of the Islamic finance investment instruments in Turkey through our partnership with Islamic Development Bank which is the largest and the most trustworthy parent finance institution all over the world."

Kagan Candan, Mukafat Portfoy's General Manager, stated that they will carry out projects to expand the knowledge and awareness of the investors in relation to interest-free profitable investments, besides providing innovative products and services and added: "We, as Mukafat Portfoy, will serve the local and foreign individual and corporate investors with highly efficient interest-free investment alternatives by adopting a transparent and trustworthy understanding. We aim to add value to human life and our environment by supporting real economy through the funds to be founded."