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KT Bank AG has been licensed by the Federal Financial Supervisory Authority (BaFin) to offer banking services in Germany. Thus, the first bank based on an interest-free Islamic business model is licensed in Germany.

Kuveyt Türk has obtained its license from the Federal Financial Supervisory Authority (BaFin) to provide fully-fledged banking services in Germany according to the interest-free Islamic banking principles. Kuveyt Türk is the first Islamic bank that has been fully licensed to operate its deposit and loan business in Germany. With this license, Kuveyt Türk is the pioneer that introduces the Islamic banking model in Germany. 

KT Bank AG with headquarters in Frankfurt am Main and as a 100 percent subsidiary of Kuveyt Türk Participation Bank, will start to offer its reliable, high-quality, fast and user-friendly services from July 01, 2015 onwards. KT Bank AG will provide its private and commercial clients with products and services according to interest-free Islamic banking principles. 

“KT Bank AG is an ethical, innovative and socially responsible bank”


==References==

* [http://www.islamicfinance.de/?q=node/7392 IslamicFinance.de congratulates KuveytTürk Germany for obtaining full banking license]
* [http://www.kt-bank.de/ KT Bank AG (website)]