World Bulletin / News Desk
Islamic lender Kuwait Finance House (KFH) said its Turkish unit has obtained a licence to operate in Germany and will be opening a financial services branch in Mannheim.
"The new branch in Mannheim aims to cover the financial requirements of a wide customer base in the German market, especially since there is a growing demand for Islamic services and products," the bank said.
KFH-Turkey plans to open more branches in Germany and expand into other European countries, it said.
The license will allow KFH-Turkey to introduce Sharia-compliant banking services.
KFH-Turkey, which currently has a 113 branch network offering banking, commercial, and investment services in various Turkish town and cities, intends to expand its network to 125 branches.