RUSSIA - TURKEY - BANKING - Turkish bankers find Russian financial market reliable (Bank Asya)

Turkish bankers consider the Russian financial market to be stable and reliable, Cenk Karacaoglu, the Vice President of the leading Turkish financial institution Bank Asya said in Moscow. He added financial services as specific as Islamic financing is quite promising in Russia.

Mr. Karacaoglu announced this in Moscow where he took part in an international conference called "Islamic Finance. Prospects of Development in Russia".

At present, there is no intensive cooperation between Russian and Turkish banks, but this is beginning to change. Turkish banks are establishing their representative offices in Russia and entering the European market. All this shows that cooperation in a wide range of banking services has good prospects: insurance, renting etc. We want Turkish and Russian banks to intensify cooperation and jointly enter partner markets, including the Middle East region.

Source : http://www.eubankers.net/page.Article.cmc?&A=12&B=1293073563&C=2010&SID=1 - Dec 23, 2010