Ziraat Bank, one of Turkey's largest state banks, has opened its first office in Istanbul. Other state banks Vakifbank and Halk Bank will monitor its progress, according to Turkish President Recep Tayyip Erdogan at the opening of the office, RIA Novosti reports.
In his words, Islamic banking in Turkey covered 5% of the total bank turnover. The coverage will rise to 20% by 2023.
