What are the most important banks in Turkey? Are Turkish Islamic banks available?

  • 6 years ago
  • 1

With its strong technical and legislative infrastructure, the banking sector in Turkey has become an additional factor to attract more foreign investments to the country. In the following lines, we deal with the most important governmental and commercial banks in Turkey, and we specialize Islamic banks in Turkey with some paragraphs due to the large number of inquiries about them.

You read in this article:
1- Why choose banks in Turkey?
2- The documents you need when opening a bank account in Turkey
3- What are the most important local and international banks operating in Turkey?
– The Turkish Agricultural Bank
– Turkish Endowment Bank
– Granty Bank
– Ak bank
– Bank of Anatolia
4- The most important Islamic banks in Turkey
– Kuwaiti Turkish Bank
Participation Bank of Turkey Finance
– Al-Baraka Bank

Why choose banks in Turkey?
Recently, Turkey has witnessed a great turnout on all sectors of the Turkish investment market, especially real estate investment in Istanbul .. So it was necessary to have a reliable banking pillar, and here the role of Turkish banks emerged, as a safe incubator for various financial assets.

Turkish banks also rely on a strong and flexible banking system at the same time, as they rely on the latest advanced technology techniques in all their services, and in preserving and monitoring their data.

In addition to its competitive offers to attract customers, by offering innovative banking products that meet the needs of depositors and investors alike .. including:

Ease of opening accounts of various kinds; Such as checking accounts, deposit accounts, and investment accounts.
Ease of opening subsidiary or secondary bank accounts for the main account of the client or company.
The diversity of the currencies of the single account, by granting the customer an international transfer number – IBAN, for each currency such as the US dollar, the euro and the Turkish lira.
Provides special accounts for pure gold, in its traditional solid form, and in liquid form that is easy to trade in cash.
Issuing basic and supplementary ATM cards, as well as credit cards of various forms such as Visa, MasterCard and modern Turkish credit cards.
Providing solid safety deposit boxes, to store jewelry and important documents safely, inside the headquarters of banks in Turkey, in exchange for rental fees that are considered low worldwide.
Offering many new banking products for savings, trading, investment, financing, personal and commercial loans, at attractive and competitive preferential rates among the various Turkish banks.
The documents you need when opening a bank account in Turkey
The process of opening a bank account in Turkey is very easy, and you will only need basic supporting documents that are easy to present as follows:

Turkish residency, if any.
A valid passport.
A tax number that can be obtained from one of the tax department offices within minutes.
A document proving the customer’s address, such as a bill for electricity, water or Internet services, or the address registration issued by the Turkish Civil Affairs Department, and it is accepted to submit an electronic copy that can be issued through the e-devlet.
What are the most important local and international banks operating in Turkey?
Türkiye Ziraat Bankası, Agricultural Bank
The first bank in the history of the Ottoman Empire was opened in 1888, bearing the name Agricultural Bank (Ziraat), which is the oldest bank in Turkey.

Ziraat Bank owns more than 4,163 ATMs, and more than 1,545 branches. Its branches are distributed in all Turkish cities, with more than 24,374 employees working in them.

The oldest bank in Turkey includes a number of financial companies, which provide their distinctive services to various commercial sectors, and social groups of citizens and residents, such as:

Agriculture Foundation for retirement.
Agricultural Rental Company.
Agriculture Company for Insurance.
Cultivations for technology.
Agricultural Finance Portfolio.
Agriculture for local partnerships.
Ziraat Bank also has international branches outside Turkey, such as the New York branch, London, Bulgaria, Georgia, Baghdad, Erbil and other branches around the world.

It is worth noting that the bank recently launched branches for Islamic transactions under the name of Ziarat Katilim Bank.

VAKIF BANK Endowment
The Turkish Endowment Bank was established in 1957. This bank provides banking and investment services to commercial companies, as well as services to individuals as well.

This ancient bank is actively participating in strengthening the country’s economy, and today the Turkish Endowment Bank has become one of the symbols of the Turkish banking sector.

It recorded a net profit of 386.3 million Turkish liras, equivalent to 139.2 million dollars, in the second quarter of 2020.

Waqf Bank is the fifth largest bank in Turkey, and it has more than 610 branches in various Turkish cities, in addition to foreign branches, such as New York, Austria, Germany and Erbil branches in northern Iraq. It also has participatory branches in accordance with Islamic law.

GARANTI BANKASI
GrantiBank was established in 1946 in the Turkish capital, Ankara, and is a private commercial bank that provides services to individuals and investors, in addition to its services in the insurance sector.

It has more than 1000 local branches, in addition to its branches outside Turkey, such as Luxembourg, London and Shanghai.

Turkish banks
Turkish banks

Akbank, the Turkish bank
Ak Bank opened in 1948 in Adana, with the aim of financing cotton merchants at the time. Most of its ownership belongs to the Sabanji family, and it currently has nearly 1,000 branches distributed all over Turkey.

This Turkish commercial bank was able to occupy an important position on the list of the top 500 banks in the world for 4 consecutive times.

Anadolu Bank
Bank Anadolu was established in 1997, and it has about 120 branches distributed in all Turkish cities, and one branch in the Netherlands.

This bank supports small and medium enterprises in Turkey, and aims to encourage young people to launch their own projects, which will positively affect the development of entrepreneurship and its prosperity in the Turkish economy.

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