ISTANBUL, July 6 — Boustead Holdings Bhd and Turkey’s Great East Capital have teamed up to establish the republic’s first Islamic digital banking to tap the huge potential of 85 million population.
He said GEC is currently in the process of applying for the digital bank’s license from the relevant Turkish authorities. “Our partnership with GEC will be our stepping stone into the huge Europe market,” he told reporters after the exchange of the Document of Understanding between both companies to take up the venture here Tuesday.
GEC’s Umut Tekin said the companies are embarking on a new journey to establish the first Islamic digital banking in Turkey and hoped to realise it by the first quarter of 2023.
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