DOHA: Qatar Islamic Bank (QIB), Qatar’s leading Islamic bank, yesterday confirmed that the exclusivity agreement relating to discussions to acquire a strategic stake in Bank Asya, the largest participation (Islamic) bank in Turkey, announced on 25 March 2014 has been terminated.
Turkey remains a target market for QIB and its international expansion strategy, the bank stated yesterday. Meanwhile, The turkish lender said on Friday in a statement to the Istanbul stock exchange that the exclusivity deal with QIB, under which Bank Asya could not pursue an offer from another potential buyer, was terminated as of August 8 so it could receive formal bids from Turkish investors. Bank Asya is one of four Islamic lenders in Turkey.
The Peninsula
