“TKBB Takes New Steps for the Sustainable Growth of the Participation Finance Ecosystem”

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.

This important meeting was held to assess the current state of the banking and finance sectors in the Turkic States region, share mutual experiences, and discuss future cooperation opportunities. The meeting provided a comprehensive overview of the economies, banking, and finance sectors of CBATS member countries.

Fatma Çınar, Deputy Secretary General of the Participation Banks Association of Türkiye (TKBB), gave a detailed presentation on the current status, development, and innovative practices shaping the participation banking sector in Türkiye. The growth momentum achieved by participation banking in Turkey in recent years, the financial ecosystem aligned with sustainability goals, and the customer-centric service approach in the sector were met with great interest by the participants.

One of the important items on the agenda of the Annual meeting was the Memorandum of Understanding signed with the Union of Banks of Kyrgztan (UBK) to promote the growth of the participation finance ecosystem.

This significnt agreement was signed at a ceremony attended by UBK President Anvar Abdrayev and TKBB Deputy Secretary General Fatma Çınar. The Memorandum of Understanding aims to take important steps in four key areas to deepen cross-border cooperation in participation finance:

Development of Participation Finance Products and Systems:

The aim is to diversify the product and service portfolios of member banks with innovative and value-oriented financial solutions, thereby offering broader and higher-quality financial alternatives to the participation finance ecosystem.

Education and Capacity Development:

The aim is to improve the quality of human resources in the participation finance sector and support sustainable growth by organizing joint training programs, seminars, and certification processes to enhance the knowledge and skills of those working in the participation finance sector.

Innovation and Digital Transformation:

By encouraging cooperation and knowledge sharing among member banks in the areas of financial technologies (FinTech), cyber security, and digital customer experience, the digitalization process of participation banking will be accelerated, thereby increasing customer satisfaction and operational efficiency.

Green and Inclusive Finance:

Inclusive and green financing models will be developed to support SMEs, women entrepreneurs, and segments with limited access to financial services, and projects and partnerships in line with sustainable development goals will be implemented.

Participation Banks Association of Türkiye, the representativ organization for participation banking in Turkey, will continue to contribute to the development of participation finance at both the regional and international levels through this cooperation. The Memorandum of Understanding signed provides an important platform for sharing sectoral knowledge and innovative approaches while increasing the resilience of the participation finance ecosystem.

Such collaborations strengthen Türkiye's leadership in the field of participation banking while also contributing to the enhancement of economic integration among Turkic States. TKBB will continue its efforts with determination to implement similar projects and further deepen regional collaborations in the future.