General information about banks in Turkey

Investment in Turkey depends on banks that offer many financial facilities and services, as Turkey has a strong and secure financial system.

One of the advantages of the financial system in Turkey is that it is based on strong foundations and relies on the latest technologies to attract customers and secure all the various banking facilities and services, and this is done through the applications of banks located in Google Play on the mobile device

Customers can perform many banking services in Turkey through the official applications of banks, such as transferring and receiving money, issuing credit cards, currency exchange, and other operations related to buying and selling, opening accounts, and deposits of various kinds, such as opening accounts for precious metals.

There are also banking services in Turkey related to mortgages, loans, international transfers, and the payment of many bills.

Documents required to open a bank account in Turkey:

Opening a bank account in Turkey is very easy and requires some identification papers and personal information such as identity and residence.

Conditions for opening a bank account in Turkey

There are no additional conditions for opening an account in Turkish banks, but one of the basic conditions is to agree to the formal conditions stipulated by the laws in Turkey.

Islamic banks in Turkey

Among the most important Turkish banks:

Kuveyt Turk

Kuveyt Turk Bank was established in 1989 and was approved as a financial institution specializing in banking, based on the principles and instructions stipulated in Resolution No. 831/7506 issued by the Council of Ministers on December 16, 1983.

As for the method of distributing Kuveyt Turk Bank’s capital, it is distributed as follows: 62% of the capital goes to the Kuwait Finance Corporation, which is the largest shareholder in Kuveyt Turk Bank with a capital share of 62%, and 18% goes to the General Directorate of Institutions and 9% to the Islamic Development Bank, 9% to the Kuwaiti State Social Security Corporation, and finally 2% to other partners.

It is worth noting here that the Kuwait Finance Corporation is a huge financial institution in Kuwait and is one of the best interest-free financial institutions in the world, as it acquires billions of dollars of funds and advanced banking services.

Is Bank Turkish Labor Bank

Türkiye İş Bankası, abbreviated as A.Ş or Turkish Labor Bank, is one of the largest private banks that provide banking and commercial services in Turkey, providing all well-known banking services.

It was established in the year 1924 during the era of Mustafa Kemal Ataturk. It is the first bank in the era of the Turkish Republic and is ranked 181 as the largest bank in the world in terms of capital according to the ranking announced by The Banker magazine.

The volume of assets in the Turkish Labor Bank reached 926.6 billion Turkish liras in 2021.

The main branch of the bank is located in the towers area in the Levent district on the European side of Istanbul and provides all the well-known banking services at the local and international levels, as it is characterized by a partnership with several other banks in Georgia, Russia, and Germany