The General Council for Islamic Banks and Financial Institutions (CIBAFI), in partnership with the Participation Banks Association of Türkiye (TKBB), successfully convened a high-level webinar titled “Green Transformation and Sustainable Development in Islamic Finance,” bringing together global regulators, multilateral institutions, rating agencies, and industry leaders to advance the sustainability agenda within Islamic finance.

At the Sustainability and Finance Forum held in Istanbul by the UK Department for Business and Trade with the support of UK Export Finance (UKEF), Participation Banks Association of Türkiye (TKBB) Deputy Secretary General Fatma Çınar participated as the moderator of the session titled “Ethical (Islamic) Finance: Support the Green Transition.”

Mrs. Fatma Çınar, Deputy Secretary General of TKBB participated as a speaker in the seminar titled “The EU Carbon Border Adjustment Mechanism: Obligations, Risks and Opportunities” organized by the Istanbul Chamber of Commerce (ITO).

Export financing has become one of the most critical policy instruments shaping national competitiveness at a time when global trade is characterized by rising uncertainty and risk. In economies where production is driven by SMEs, access to affordable financing, improved receivables management and strengthened collateral frameworks directly influence export capacity. Across the Organization of Islamic Cooperation (OIC) countries, this need underscores the importance of developing institutionally defined export financing mechanisms aligned with participation finance principles. Türkiye stands out as a significant example in this context, having successfully integrated its participation banking infrastructure into the broader export financing ecosystem. Türk Eximbank, in particular, has assumed a pioneering role by designing a comprehensive suite of participation finance — compliant products over recent years. This study analyzes Türk Eximbank’s approach to export financing through participation banks and positions Türkiye within the wider OIC landscape through a comparative and holistic lens.

A Memorandum of Understanding (MoU) was signed between the Participation Banks Association of Türkiye (TKBB) and Medeniyet University by TKBB Secretary General, Mr. İsmail Vural, and the Rector of Medeniyet University, Prof. Dr. Gülfettin Çelik.

Participation finance is structured not only to generate financial returns but also to generate social benefits by directly contributing to the real economy. Guided by the principles of directing capital to productive areas, sharing risk, and ensuring the fair functioning of the economic cycle, the system serves both financial stability and social balance. The institutionalization of participation finance in Türkiye continues to advance, driven by a robust regulatory framework, strong public support, the sector’s growing institutional maturity, and the rapid pace of digitalization. Reflecting these structural improvements, the sector demonstrated solid performance in 2025. As of September 2025, the total assets of participation banks had increased by 45% compared to the end of the previous year, reaching TRY3.86 trillion (US$91.51 billion), with their share in the overall banking sector rising to 8.9%

The Participation Banks Association of Türkiye (TKBB) hosted a delegation consisting of representatives from the Algerian Ministry of Finance, the Ministry of Foreign Affairs, and the National Investment Fund (FNI), under the coordination of the United Nations Development Programme (UNDP) Istanbul International Center for Private Sector in Development (ICPSD).

A delegation from the Central Bank of Egypt visited the Participation Banks Association of Türkiye (TKBB) as part of a field study program jointly organized by the Egyptian Banking Institute (EBI) and the Banks Association of Türkiye (TBB), focusing on Türkiye’s financial landscape.

Pursuant to the instructions of the President of the Republic of Türkiye, H.E. Recep Tayyip Erdoğan, a meaningful and strategic cooperation has been established between the Participation Banks Association of Türkiye (TKBB) and the Ministry of National Education (MEB) within the framework of the “From Roots to the Future (Maziden Atiye)” program, which was initiated for the first time in 2023 at the Presidential Complex in Ahlat, Bitlis. During the initial phase of this cooperation, a series of comprehensive activities aimed at enhancing students’ awareness of history and culture were successfully implemented, thereby strengthening the connection of youth with national and moral values.

The Participation Finance Seminar Series, launched through the collaboration of the Participation Banks Association of Türkiye (TKBB) and Bloomberg, continues to bring together industry professionals. The first session of the series was held on September 9, 2025, and drew attention with its comprehensive evaluations of participation finance markets.

During the official visit of H.E. President Recep Tayyip Erdoğan to Pakistan in 2025, a Memorandum of Understanding (MoU) was signed between TKBB and Meezan Bank. As the first collaboration implemented under this MoU, we had the privilege of hosting Meezan Bank, Pakistan’s first and largest Islamic bank, at webinar titled “Pakistan’s Financial Transformation and the Role of Meezan Bank.”

Organized in collaboration with TKBB and Moody’s Ratings and hosted by Ziraat Katılım, the program brought together global financial ecosystem at the Istanbul Financial Center. The outlook for participation finance, sustainable growth, ESG trends and the vision for digital transformation were discussed.

The global financial system entered a period of intensified search for ethical, sustainable, and real-economy-based models after the 2008 crisis. In this process, the participation finance model—built upon the principles of interest-free transactions, risk sharing, and asset-based structures—emerged as a prominent alternative. Today, this system is considered not only in countries with large Muslim populations but also by international investors who embrace ethical investment principles. In terms of total assets, Saudi Arabia, Malaysia, and the United Arab Emirates stand out as leading countries, while Türkiye has recently attracted attention as a rising actor with its growing capacity.

Since the 1980s, participation finance in Türkiye has been built upon the principles of Islamic finance, gradually becoming a significant and dynamic component of the financial sector. Based on a profit-and-loss sharing model, the system synthesizes universal principles of Islamic finance and ethical banking, enhancing financial inclusion and directly contributing to the real economy.

Aiming to strengthen cooperation between Türkiye and the United Kingdom in the field of participation finance and to accelerate the sector’s global integration, the UK–Türkiye Islamic Finance Forum was successfully held in London on July 8, 2025, through the collaboration of the Participation Banks Association of Türkiye (TKBB), the British Consulate General in Istanbul, and UK Export Finance.

Participation Banks Association of Türkiye (TKBB) participated in the 5th Annual Meeting of the Council of Banks Associations of the Turkic States (CBATS) hosted by the Union of Banks of Kyrgztan

The Participation Banks Association of Türkiye (TKBB), together with the delegation from the Islamic Credit Guarantee Fund (KFK), took part in the 2025 Islamic Development Bank (IsDB) Annual Meetings held in Algiers from 19 to 22 May 2025.

Islamic finance, a financial system based on interest-free banking principles and characterized by risk sharing, ethical investment approach and fairness, has achieved significant growth on a global scale in recent years. One of the key elements of this growth is to enable the training of competent human capacity. Human capital plays a vital role in the sustainable, dynamic and qualified growth of ecosystems. Both in the world and in Türkiye, Islamic finance education continues to develop through universities, research centres and various certificate programs.

The second Islamic Banking and Finance Training Program was organized within the scope of the activities of the Council of Banks Associations of the Turkic States (CBATS).

The foreign trade performance of the Organisation of Islamic Cooperation (OIC) member states constitutes a substantial segment of global trade. According to the Working Group of the Standing Committee on Economic and Commercial Cooperation of the OIC, as of 2023, trade involving OIC member states accounts for 11% of global trade, while intra-OIC trade represents 19% of the total.

Islamabad, Pakistan IThe Institute of Business Administration (IBA) Karachi's Center for Excellence in Islamic Finance (CEIF) has inked an MoU with Türkiye Katılım Bankaları Birliği - TKBB (Participation Banks Association of Türkiye) to collaborate on a range of leadership development, research, and capacity buildings initiatives of TKBB.

Islamabad, Pakistan I In a significant step towards fostering international collaboration in Islamic finance, Meezan Bank Limited, Pakistan’s leading Islamic bank, and the Participation Banks Association of Türkiye (TKBB) have signed a Memorandum of Understanding (MoU) to drive innovation, knowledge sharing, and capacity building in the sector.

Istanbul, Türkiye| The General Council of Islamic Banks and Financial Institutions (CIBAFI), the Participation Banks Association of Türkiye (TKBB) and Istanbul Commerce University have signed a comprehensive Memorandum of Understanding (MoU) to foster innovation, research and development in the field of participation finance both in Türkiye and globally.

The Finance Office of Presidency of the Republic of Türkiye, Participation Banks Association of Türkiye (TKBB) and the Malaysian Financial Planning Council (MFPC) jointly organized a program titled "Malaysia's Financial Literacy and Financial Planning Experience" on November 19, 2024, hosted by Türk Eximbank for sector representatives in order to contribute to the participation finance ecosystem in Türkiye by sharing Malaysia's best practices in financial literacy and planning, and benefit from its experiences.

In cooperation with the Finance Office of Presidency of the Republic of Türkiye (CBFO), Participation Banks Association of Türkiye (TKBB) and the Islamic Financial Services Board (IFSB), international standard-setting body of regulatory and supervisory agencies with approximately 188 members from the central authorities of the Islamic finance industry, a forum titled "Strengthening Ties Between the IFSB and The Participation Financial System in Türkiye" was held on November 18, 2024, hosted by Istanbul Finance Center Halkbank headquarters to strengthen the strategic ties between Türkiye and the IFSB in the participation financial sector and to ensure the sustainable development of the sector. The opening speeches of the forum were delivered by CBFO Vice President Necip Fazıl Kaymak, Deputy Secretary General of TKBB Fatma Çınar and IFSB Secretary General Dr. Ghiath Shabsigh.

Finance Office of Presidency of the Republic of Türkiye (CBFO), Participation Banks Association of Türkiye (TKBB) and Islamic Financial Services Board (IFSB), international standard-setting body of regulatory and supervisory agencies  jointly organized a workshop hosted by TKBB on November 18, 2024 on strengthening the strategic ties between Türkiye and the IFSB in the Islamic finance sector.

Islamic Finance Briefing, which brings together senior representatives of local and international financial institutions, held its first meeting in Türkiye. They shared vital insights about the country’s place and importance in the global Islamic finance industry.

In cooperation with the Participation Banks Association of Türkiye (TKBB) and the Banks Associationof Türkiye (TBB), a program was held in Istanbul on April 16, 2024 with the delegation of the DubaiInternational Financial Centre Authority (DIFC).

The workshop started with the opening speeches of Mahmut Asmalı, President of MÜSİAD, İsmail Vural, Secretary General of Participation Banks Association of Türkiye, and Mehmet Koca, Chairman of the Founding Board of Trustees of Karz-ı Hasen Foundation. Muhammet Ali Özeken, President of MÜSİAD Karz-ı Hasen Fund delivered a welcome speech, and discussed the current status of Karz-ı Hasen, the theoretical and technical problems encountered and the future goals and practices in Türkiye and around the world.

The 5th Centralised Shariah Advisory Authorities (CSAA) Meeting, hosted by Türkiye in collaboration with the Participation Banks Association of Türkiye and Bank Negara Malaysia (Central Bank of Malaysia), took place on 6th of September 2023 in Istanbul this year in a hybrid format. The event featured the participation of Central Shariah Advisory Authorities from nearly 15 countries, international standard-setting bodies and multilateral organizations, along with experienced experts and academics in the field.

The first day of the 2nd Capacity Building Programme for Users of the OIC Business Intelligence Center (OBIC) which is scheduled to organize on between 26-28 September 2023 under the leadership of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and sponsored by the Participation Banks Association of Türkiye (TKBB), took place. Held in cooperation with ICIEC, COMCEC Coordination Office, Statistical, Economic and Social Research and Training Center for Islamic Countries (SESRIC), Islamic Center for Development of Trade (ICDT), Islamic Chambers of Commerce, Industry and Agriculture Association (ICCIA), IsDB Regional Hub Istanbul, TKBB, and Türk Eximbank, the programme's first day started with the opening speeches from the representatives of partners and sponsors.

The 9th CIBAFI Sustainability Working Group (SWG) Meeting and the Roundtable Meeting titled "Advancing Climate Resilience: GHG Emissions Measurement in Islamic Banking and Finance," hosted by the Participation Banks Association of Türkiye (TKBB), took place on October 11, 2023, in a hybrid format, featuring experts in the field. Approximately 12 countries participated in this event. The program began with opening speeches by Dr. Abdelilah Belatik, the Secretary-General of CIBAFI, and Fatma Çınar, the Director of the Participation Banks Association of Türkiye (TKBB)

Second Session of Green Finance Ecosystem and Taxonomy Focus Group Meeting on Equity & Green Bonds of "Origination of Project Pipelines and Blending Operations for the European Fund for Sustainable Development (EFSD+) and Capacity Building" Project hosted by the Participation Banks Association of Türkiye (TKBB) with the participation of the Central Bank of Türkiye (CBRT), Banking Supervision and Regulation Agency (BRSA), Capital Markets Board (CMB) and Delegation of the European Association to Türkiye was held on 27 October 2023 in a hybrid format at Sheraton Grand Istanbul Ataşehir.

The International Islamic Liquidity Management Corporation (IILM) is pleased to announce that it successfully organized a collaborative capacity-building program with the Participation Banks Association of Türkiye (TKBB), titled ‘The IILM-TKBB Capacity Building Programme’, in Istanbul, Türkiye on 14th of December 2023.