Kuveyt Turk
History
Kuveyt Turk is an interest-free bank in Turkey (Those banks are called Participation Banks in Turkey due to issues of secularism) It was established in 1989 in Turkey. It began to operate in accordance with terms set forth by the Council of Ministers' Decree dated Dec. 16, 1983 and no. 831/7506. Starting from December 1999, Kuveyt Türk has become subject to the Banking Law no. 4389 just as other islamic banks.
Shareholders of Kuveyt Türk are Kuwait Finance House (62%), Kuveyt Social Security Institution (9%), Islamic Development Bank (9%), General Directorate of Associations Turkey (18%), and other shareholders (2%).
The Kuveyt Finance House, which is the largest shareholder of Kuveyt Türk with its 62 % share, is a giant finance institution of Kuveyt with its outstanding asset volume and contemporary and pioneering banking services.
Mission and Vision
Kuveyt Türks objective is to bring diligence to the interest-free banking system, research fields of investment and introduce contemporary, reliable, rapid and high quality services to its customers with very qualified staff members. It takes fast service of high quality through its branch offices, alternative delivery channels and correspondent banks within and outside the country employing all state-of-the art technological facilities to the depositors and investors.
Kuveyt Türk, which converts the savings of its customers who are profit and loss sharers into sound and profitable investments on the most profitable sectors and creates new employment facilities by providing resources to the real sector and thus, making significant contributions to the economy of the Turkey, has been awarded gold, silver and bronze medals on various dates by public institutions and trade associations such as the Undersecretariat of Treasury and Foreign Trade, Istanbul Chamber of Commerce and Istanbul Ready Made Garment Exporters' Association for the success it has shown in the field of exports.
Kuveyt Türk, in parallel to its vision of becoming an international finance house, is preparing to open branch and representative offices abroad as well.
The 2000s, which is an age of Information Technology, compel the finance houses to operate in a more technology intensive manner. Kuveyt Türk has established the information and technology infrastructure required at a high level. It offers all banking services through Electronic Banking and Alternative Delivery channels in the best way. Together with VISA credit card and the Palmiye Installment Shopping Card services, POS and member merchant services, Internet banking, call center, interactive voice response system and SMS banking services are presented continuously.
The permanent change project aiming at carrying the modern management techniques and management and service concept of the 2000s to the body of the company with the young and dynamic service staff, almost all of whom are university graduates and experts in their fields and expert consulting staff, its sound capital structure and economic power, make Kuveyt Türk the leader of the Participation Banks in Turkey.
