Turkiye Finans Bank, a Turkey-based Islamic Bank, has said that it will establish presence in Bahrain as part of its expansion strategy.

Transport Minister and Economic Development Board (EDB) Acting Chief Executive Officer Kamal bin Ahmed received Türkiye Finans Bank Chief Executive Officer and Director Derya Gurerk and Deputy CEO for Strategic Responsible for Commercial Banking Dursun Arslan who announced the move.

Türkiye Finans Bank is considered as the leading shareholding bank in Turkey as it established an acknowledged reputation for premium customer and corporate services. It has also won the World Finance Award for Best Islamic Bank in Turkey in 2014.

The minister briefed the Turkish officials on the strength and vitality of the sector financial services in Bahrain, underscoring the importance of further consolidating Islamic banking.

Bahrain boasts the biggest concentration of financial institutions in the world, including thirty-two Islamic banks, insurance and reinsurances companies (Takaful).