Vakıfbank

Türkiye Wealth Fund (TWF) has signed a $100 million Murabaha financing agreement with Sharjah Islamic Bank (SIB).

This three-year term agreement marks the first Islamic finance transaction for the TWF.

Doğan Investment Bank acted as the financial adviser and coordinator for the transaction, the fund said in a statement.

The Istanbul Financial Center (IFC) will open on April 17, Environment, Urbanization, and Climate Change Minister Murat Kurum has said.

A ceremony will be held to deliver houses in the Fikirtepe neighborhood to be attended by President Recep Tayyip Erdoğan, Kurum said during a visit in Istanbul.

Türkiye will be hosting the FIVB Volleyball Women's Club World Championship for the second successive time, the Turkish Volleyball Federation has announced.

"The competition will be held in [the southern province of] Antalya between Dec. 14 and 18," it said in a statement.

Türkiye will be represented in the tournament with two teams, Vakıfbank and Eczacıbaşı Dynavit.

The top executives of the three Turkish state lenders - Ziraat, Halkbank and Vakıfbank - have pledged to grant loans to Turkish businesses in a bid to support economic development and increase prosperity.

General managers of Turkey's three state banks met with businesspeople in the northwestern province of Bursa on Feb. 3.

Kalyon Enerji, the developer of the largest solar facility in Turkey, on Nov. 30 signed a $812 million loan agreement with six Turkish banks, U.S. lender JPMorgan Chase & Co and U.K. Export Finance (UKEF).

Turkish state-owned lenders Ziraat, Vakıfbank and Halkbank have lowered loan interest rates between 50 and100 basis points on Nov. 19.

After the Central Bank cut its benchmark rate from 16 percent to 15 percent on Nov. 18, the three banks decided to follow suit.

Home sales are expected to receive a boost following state-lenders' decision to slash interest rates, according to representatives from the sector.

After the Central Bank's decision last week to reduce the key policy rate by 200 basis points, three state-owned lenders, namely Ziraat Bank, Halkbank and Vakıfbank, this week cut interest rates on loans, including housing loans.

Turkey's seven largest banks have sufficient short-term foreign currency (FC) liquidity to service FC debt during the event of a brief market closure, Fitch Ratings said on Sept. 23 in a report. 

Banks operating in Turkey have been obliged to submit a new long-term credit strategy plan and establish a separate unit to oversee it, according to a revised banking regulation published in the Official Gazette yesterday.

Turkish volleyball club VakıfBank won silver at the 2021 Women's CEV Champions League Volley on May 1, losing 3-2 to Italy's Carraro Imoco in the final.

"2021 Champions League Second Place! We are proud of you girls!," the Turkish team said in a statement.

Carraro Imoco won the five-set final 22 - 25, 25 - 22, 23 - 25, 25 - 23, 15 - 12 at Verona's AGSM Forum.