The Participation Banks Association of Turkey (TKBB) is a professional public institution established by the relevant provision of the Banking Law. The TKBB is the main representative of the participation banking sector in Turkey and works with the government, regulators and other stakeholders to increase public awareness and understanding of the contribution the sector makes to the Turkish economy. The TKBB has a range of working committees to support member banks’ priority issues and also conducts extensive training programmes.
All participation banks in Turkey are required to be a member of the TKBB within one month of obtaining a banking license. As of today, six participation banks are the members of the TKBB.
The main objectives of the TKBB include the following:
• To defend the rights and interests of participation banks within the framework of a free market economy and the principle of full competition in accordance with banking regulations, principles and rules.
• To work for the healthy growth of the banking system, development of the banking profession and improvement of competitive power.
• To ensure that necessary decisions are taken, implemented and demand to be implemented for the creation of a competitive environment.
The Participation Banks Association of Turkey (TKBB) has the vision to raise the market share of participation banking sector to 15% by 2025 and to deliver world-class financial products and services.
To ensure a healthy and sustainable development of participation banking in Turkey, the TKBB’s mission is
• To develop and improve product range and service quality;
• To improve corporate communication, perception and reputation management;
• To improve training related activities, human resources and certificate programs,
• To develop legislation, standards and regulations related to the principles of participation banking,
• To support all efforts aiming to make Istanbul a leading financial centre.
The Participation Banks Association of Turkey was established by the Banking Law dated 04.10.2001 and No. 2001/3138 regarding the enforcement of the Statute of the Association, which was at that time named as the Association of Special Finance Houses.
Following the Banking Law No. 5411 dated 01.11.2005 and the Statute of the Association No. 2006/10018 dated 28.02.2006, the Association received its current title of the Participation Banks Association of Turkey.
Statute of the Association No. 2006/10018
Duties of the Association