Kuveyt Turk was established in 1989 in the status of Private Financial Institution for the purpose of operating in accordance with the principles set by the Cabinet Decree No. 831/7506 of 16.12.1983. Operations of Private Financial Institutions were conducted by Cabinet Decrees on the one hand and communiqués of the Central Bank and the Undersecretariat of Treasury on the other hand until such operations were included within the scope of the Banking Law in 1999. In December 1999, Kuveyt Turk became subject to the Banking Law No. 4389, just like other Private Financial Institutions. The title was changed to be Kuveyt Turk Participation Bank Inc. in May 2006.
Regarding the capital of Kuveyt Turk, 62% is owned by Kuwait Finance House, 9% by the Public Institution for Social Security, 9% by the Islamic Development Bank, 18% by General Directorate for Foundations and 2% by other shareholders.
Being the largest shareholder of Kuveyt Turk with a share of 62%, Kuwait Finance House is not only a giant financial institution in Kuwait but also among the leading interest-free financial houses in the world thanks to its total fund of billions of dollars and the modern banking services it offers.
Since its foundation, Kuveyt Turk has adopted as its principles to be attentive in interest-free banking system, research in the field of investment, offer modern, stable, reliable, high-quality and quick service to savers and businessmen, and provide its staff with continuous training for the purpose of increasing their productivity. Kuveyt Turk is proud of being capable of bringing quick and high-quality service to savers and investors through its branches and correspondents at home and abroad by any modern technological means.
Kuveyt Turk, which both turns the savings of its profit-sharing clients into reliable and profitable investments and creates new areas of employment by funding reel sector and thus makes significant contributions to the national economy owing to its investments and participations in the sectors of textile, metal and real estate, was awarded gold, silver and bronze medals on different dates by public institutions and professional associations such as the Undersecretariat of Treasury and Foreign Trade, Istanbul Chamber of Commerce and Istanbul Ready-Made Clothing Exporters’ Association due to its achievements in the field of export.
In line with the vision of being an international participation bank, Kuveyt Turk has opened foreign branches and representative offices as well.
As an age of technology and computer, 21st century compels especially financial institutions to work harder. In this regard, Kuveyt Turk has set up the necessary information and technology infrastructure. It renders all banking services through e-banking and alternative distribution channels in the best possible way. In addition to Visa and Mastercard credit cards, services such as POS, ATM, Internet Banking, Call Center, Interactive Voice Response System and SMS Banking are rendered uninterruptedly. Kuveyt Turk feels right proud of being the first participation bank to have offered these innovations to its clients since 2000.
Kuveyt Turk Participation Bank Inc., which aims at incorporating into modern business management techniques and concept of management and service with its young and dynamic service staff almost all of whom are university graduates and experts in their fields, is the leader among the participation banks in Turkey thanks to its reliable capital structure and economic power.