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TURKEY-BANKS/
RTR4TFUV
March 15, 2015
Logo of the state-run bank Ziraat Bank is pictured at its headquarters in Istanbul March 15, 2015. Under...
Istanbul, Turkey
Logo of the state-run bank Ziraat Bank is pictured at its headquarters in Istanbul
Logo of the state-run bank Ziraat Bank is pictured at its headquarters in Istanbul March 15, 2015. Under President Tayyip Erdogan, an authoritarian leader with roots in Islamist politics and an aversion to usury, Turkey is hoping it can turn disdain for traditional banks among the pious into a boom in Islamic finance, where, instead of interest, banks charge service fees and depositors share in bank profits. Two state-run banks - Halkbank and Ziraat Bank - are pushing ahead with plans to launch Islamic units this year, joining four existing private Islamic lenders. Ziraat, Turkey's largest unlisted lender, is due to launch its Islamic business in May. To match TURKEY-BANKS/ REUTERS/Murad Sezer (TURKEY - Tags: BUSINESS LOGO)
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