8TH WIEF
ROUNDTABLE
ISTANBUL, TURKEY
20 MAY 2014
INTERCONTINENTAL HOTEL
ISTANBUL, TURKEY
8TH WIEF
ROUNDTABLE
ISTANBUL, TURKEY
Welcome Address by
Mr Nail Olpak
President of MUSIAD
8TH WIEF
ROUNDTABLE
ISTANBUL, TURKEY
Special Address by
the Hon Tun Musa Hitam
Chairman of WIEF Foundation
8TH WIEF
ROUNDTABLE
ISTANBUL, TURKEY
Transforming Islamic Finance in Turkey: Promise of
Growth
Role Players:
Mr Murat Centinkaya, Deputy Governor, Central Bank of
Turkey
Professor Humayon Dar, CEO, Edbiz Consulting
Limited
Mr Muzaffar Hisham, CEO, Maybank Islamic Berhad
Dr Nihat GÜMÜŞ, Asst. Director, Research Development,
Borsa Istanbul
Moderator:
Mr Osman Çelik, Exec. Vice President, Turkiye Finans
Participation Bank
ISLAMIC FINANCE IN THE WORLD
Sector Breakdown in the World (2012)
Interest-Free
Investment
Funds , 4%
Sukuk, 14%
Tekaful
(Islamic
Insurance),
1%
Countries’ Islamic Banking Market Share (2012)
England
1%
Switzerland
2%
Indonesia
Pakistan
6%
Turkey
6%
Malaysia
UAE
Interest-Free
Banking, 81%
5.50%
Qatar
Saudi Arabia
20%
25%
30%
40%
65%
Kuwait
Iran
100%
Sudan
Source: Participation Banks Association of Turkey
As of the end of 2013, total volume of Islamic
Finance industry in the world has exceeded USD
1.7 trillion.
100%
Source: IFSB, Islamic Financial Services Board
Pakistan, Turkey and Indonesia, among the most important
devoloping countries with a total Muslim population of 500
million, come out as the countries that are expected to take
significant share from Islamic Finance market in the near future.
PARTICIPATION BANKING IN TURKEY
Main Indicators
(TRY Million)
2012
2013
Growth
%
Total Assets
70.279
96.068
37%
Allocated Funds
47.961
62.042
29%
Collected Funds
47.921
61.313
28%
Shareholders’ Equity
7.377
8.851
20%
916
1.071
17%
Profit (Net)
1.703%
37%
29%
2.186%
70.3
2002
188
2.1
2012
2013
Total Assets (TRY Billion)
2002
2012
2013
Allocated Funds (TRY Billion)
1.750%
1.397%
47.9
28%
7.4
2002
2003
2012
20%
9%
336%
8.9
15,356
2013
Collected Funds (TRY Billion)
Source:Participation Banks Association of Turkey
2002
16,800
3,520
0.4
2012
2013
Branches
61.3
3.2
965
829
62
48
3.9
16%
341%
96.1
2012
2013
Shareholders' Equity (TRY Billion)
2003
2012
Staff
2013
PARTICIPATION BANKING IN TURKEY
Market Share of PBs in Main Indicators
7.0%
6.5%
6.0%
6.0%
6.0%
5.8%
6.2%
5.2%
5.1%
4.6%
4.6%
5.1%
Market Share
4.2%
4.0%
3.8%
4.0%
4.3%
4.0%
3.5%
3.0%
3.0%
3.4%
2.5%
2.8%
2.2%
2.4%
1.8%
1.3%
4.6%
4.1%
3.5%
3.2%
1.0%
5.5%
5.1%
4.6%
6.0%
5.6%
5.4%
5.0%
2.0%
5.8%
2.3%
1.8%
2.0%
1.1%
0.0%
2001
Source: BRSA
2002
2003 2004
Assets
2005 2006 2007
Collected Funds
2008 2009 2010
Allocated Funds
2011
2012
2013
Participation Banks are increasing their share in the sector almost every year in each item. Collected Funds
Share of Participation Banks in the market exceeds the share in loans (allocated funds) in the last 2 years.
This shows that Participation Banks have the potential of sustainable growth and development.
WHY TURKEY ? BOOMING TURKISH ECONOMY…
Main Indicators
2013
GDP
USD 820 billion (Current
Prices)
GDP Per Capita
USD 10,782
Exports Value
USD 152 billion
Imports Value
USD 251 billion
Foreign Direct Investment
USD 12.9 billion
No. of Companies with Foreign Capital
36,450
Inflation Rate
7.49% (CPI)
4%
240%
786
Average Annual Real GDP Growth (%) 2003-2012
820
231
Hungary
Mexico
Czech Republic
2002
2012
2013
GDP (Billion USD)
10,505
3,492
3%
10,782
Bulgaria
3.4
2013
GDP Per Capita (USD)
Source: Turkish Statistical Institute
3.5
South Korea
3.6
Brazil
3.6
Poland
Slovakia
2012
3
3.4
Russia
2002
2.5
Romania
South Africa
201%
1.1
Chile
Turkey
4.2
4.6
4.7
4.8
5.1
8TH WIEF
ROUNDTABLE
ISTANBUL, TURKEY
Mr Murat Centinkaya,
Deputy Governor , Central Bank of
Turkey
8TH WIEF
ROUNDTABLE
ISTANBUL, TURKEY
Transforming Islamic Finance in Turkey: Promise of
Growth
Role Players:
Mr Murat Centinkaya, Deputy Governor, Central Bank of
Turkey
Professor Humayon Dar, CEO, Edbiz Consulting
Limited
Mr Muzaffar Hisham, CEO, Maybank Islamic Berhad
Dr Nihat GÜMÜŞ, Asst. Director, Research Development,
Borsa Istanbul
Moderator:
Mr Osman Çelik, Exec. Vice President, Turkiye Finans
Participation Bank
8TH WIEF
ROUNDTABLE
ISTANBUL, TURKEY
Professor Humayon Dar,
CEO, Edbiz Consulting Limited
8TH WIEF
ROUNDTABLE
ISTANBUL, TURKEY
Transforming Islamic Finance in Turkey: Promise of
Growth
Role Players:
Mr Murat Centinkaya, Deputy Governor, Central Bank of
Turkey
Professor Humayon Dar, CEO, Edbiz Consulting
Limited
Mr Muzaffar Hisham, CEO, Maybank Islamic Berhad
Dr Nihat GÜMÜŞ, Asst. Director, Research Development,
Borsa Istanbul
Moderator:
Mr Osman Çelik, Exec. Vice President, Turkiye Finans
Participation Bank
8TH WIEF
ROUNDTABLE
ISTANBUL, TURKEY
Mr Muzaffar Hisham,
CEO, Maybank Islamic Berhad
8TH WIEF
ROUNDTABLE
ISTANBUL, TURKEY
Dr Nihat GÜMÜŞ,
Asst. Director, Research Developmen
Borsa Istanbul
71
72
73
74
75
76
77
78
79
80
8TH WIEF
ROUNDTABLE
ISTANBUL, TURKEY
Transforming Islamic Finance in Turkey: Promise of
Growth
Role Players:
Mr Murat Centinkaya, Deputy Governor, Central Bank of
Turkey
Professor Humayon Dar, CEO, Edbiz Consulting
Limited
Mr Muzaffar Hisham, CEO, Maybank Islamic Berhad
Dr Nihat GÜMÜŞ, Asst. Director, Research Development,
Borsa Istanbul
Moderator:
Mr Osman Çelik, Exec. Vice President, Turkiye Finans
Participation Bank
8TH WIEF
ROUNDTABLE
ISTANBUL, TURKEY
Mr Osman Çelik,
Exec. Vice President,
Turkiye Finans Participation Bank
8TH WIEF
ROUNDTABLE
ISTANBUL, TURKEY
Question And Answer Session
10th World Islamic Economic Forum
28th -30th October 2014
Madinat Jumeirah Conference Centre, Dubai
Thank You,
See you in Dubai!
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8th wief roundtable - World Islamic Economic Forum Foundation