KT Bank AG has been licensed by the German Banking Authority (BaFin) and began operations in Germany. KT Bank AG is the first interest-free bank licensed in Eurozone. Moreover, Kuveyt Turk has issued three Ringgit sukuk issuances which totals 800 Mio MYR.
Kuveyt Turk became the first and only Turkish bank, and the World’s first participation bank, that was accepted to the London Bullion Market Association (LBMA) as an ‘Associate’. Besides, Kuveyt Turk completed its second Sukuk issuance backed by lease certificates, securing 350 Mio USD foreign resource for Turkish economy.
Kuveyt Turk launched Turkey’s first sukuk issuance which was 100 Mio USD.
Kuveyt Turk became the first participation bank to launch foreign currency forward trading with a fixed exchange rate.
The title of Kuveyt Turk Evkaf Finance House changed to Kuveyt Turk Participation Bank.
Bahrain branch was opened as Kuveyt Turk’s first overseas presence in the Gulf region.
Foundation of Kuveyt Turk Evkaf Finance House as a subsidiary of Kuwait Finance House (KFH)