05.11.2019
Kuveyt Türk was given the Strongest Islamic Bank in Türkiye and the Most Innovative Islamic Bank in Türkiye awards this year in the fifth IRBA organized by Cambridge IFA. KT Bank AG won three different category awards including The Best Developing Islamic Bank in Europe.
Kuveyt Türk, the leading financial institution in Türkiye, and its subsidiary KT Bank AG based in Germany won between them five different category awards of the Islamic Retail Banking Awards (IRBA). Now in its fifth year, IRBA was organized by Cambridge IFA on 4 November 2019 in Muscat, the capital of Oman. Kuvey Türk was selected Strongest Islamic Bank in Türkiye again as it was last year, winning in addition the Most Innovative Islamic Bank in Türkiye award. KT Bank AG won awards in three categories i.e. the Best Developing Islamic Bank in Europe, Most Innovative Islamic Bank in Europe and IRBA Perfection awards. These awards were presented to Ali Bağatır, Private Banking Group Manager Kuveyt Türk, on behalf of both Kuveyt Türk and KT Bank AG.
“We’ll continue to lead the way in this sector in general”
Commenting about the awards won in the IRBA, Ufuk Uyan, CEO of Kuveyt Türk, said “We believe it is a significant success for us to win one of the most prestigious awards of this sector for the second time. We continue to support the real economy and to contribute to financing of the growth through our strong capital structure and dynamic management principle. Especially in the last ten years we led the way in not only the participation financing field but also in the financial sector as a whole through the technology and innovation projects we realized . Being selected the most innovative financial institution in the international platform thanks to the activities I mentioned is a considerable source of motivation for our approximately six thousand employees.”
“We pioneer the growth of the participation financing model in Europe”
Pointing out that KT Bank AG, incorporated as a 100% subsidiary of Kuveyt Türk in Germany in 2015, achieved very important successes in the last four years, Ufuk Uyan said: “KT Bank AG is the first full-scope financial institution doing participation financing business in Europe and provides services in not only Germany but also the E.U., Türkiye and the GCC countries. It grows in financial terms on the one hand and keeps on proceeding on its road to digital transformation thanks to the products and services developed by the R&D centers of Kuveyt Türk. The fact that Kuvey Türk and KT Bank AG was elected the most innovative financial institution in Türkiye and Europe respectively is a significant indicator of this process. Furthermore, the fact that KT Bank AG was given both the best developing financial institution and perfection awards proves that the subsidiary in question, incorporated only yesterday in 2015, proceeds with an indeed right strategy.”