Islamic Mortgage Step from Turkey Asset Fund

Turkey Asset Fund Chairman Mehmet Bostan has told reporters at a meeting the following explanations:

* Turkey Asset Fund signed framework agreement on Islamic mortgage development with ICD, a subsidiary of Islamic Development Bank.

* Within the framework of the agreement, long-term interest-free loans are planned to be set up for those who want to set up a mortgage company to be a homeowner, with derivative instruments.

* Different collaborations with the Islamic Development Bank will come on the agenda. There is also a lot of interest on the EBRD side.

* One of the areas we are working in is financial technology. We have a joint payment platform and mobile banking. We can build a company or make a purchase.

* We seek to invest in leading industries such as technology, telecom and energy fields that will create value in the future.

* Canal Istanbul‘s financing is under the direction of the government. Of course we will do it if instructed, but there is no offer for us.

* We receive important invitations from country funds. We have further negotiations with the two countries’ fund after a memorandum of understanding signed with Russian RDIF.

* We did not have any market-related activity as the fund (related to the severe upsurge in the recently).

* The fund’s public offering is theoretically possible but there is still time.

* When we look at country funds in the world, we are looking more at Asian examples. Singapore example is very similar in terms of what we want to do.

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