Islamic Development Bank

Officials from the Islamic Development Bank and the Turkish Islamic Banks' Association (TKBB) signed a cooperation deal for financing infrastructure projects on May 25, Reuters has reported. 

The agreement was inked at a TKBB general assembly in Istanbul. No further details were immediately available.

Turkey's new sovereign wealth fund has signed a framework agreement with an Islamic Development Bank (IDB) unit to develop Islamic mortgages as well as different types of cooperation, the fund's head has stated, Reuters and Anadolu Agency reported on May 3. 

The Saudi-based Islamic Development Bank (IDB) is in talks with Turkey's main stock exchange Borsa Istanbul to buy a stake, the bourse's chairman told Reuters on April 19, adding that they wanted to complete the negotiations by the end of the year. 

The European Bank for Reconstruction and Development is in talks with Gulf sovereign wealth funds to invest jointly, and hopes to complete a round of fund-raising for such investments by the end of this year, the bank's president said on Feb. 13.

The Islamic Development Bank (IDB) will seek a strategic stake in Turkey's main stock exchange and collaborate on developing a gold trading platform for use by majority-Muslim countries, part of a broad agreement signed on Nov. 23.

The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank Group (IDB); Aktif Bank, the largest privately-owned Investment Bank in Turkey; and Ijara Management Company (IMC), a specialized company offering comprehensive solutions for new and existing Islamic leasing (Ijara) companies, have signed an agreement to collaborate as

Russia's first Islamic bank will open this month in Kazan, the capital of Tatarstan, a federal subject of Russia.

The bank will function according to Islamic principles as a subsidiary of Tatagroprombank, one of the bank's founders announced.        

The European Bank for Reconstruction and Development (EBRD) has announced it is co-financing the development of a 318 million-euro high-tech hospital in Konya, a city in Turkey's central Anatolian region in a written statement on Feb. 23. 

The Islamic Development Bank (IsDB) has said it agreed to loan $270 million to Turkish Eximbank in a statement on Dec. 30. 

The loan is to finance Turkish export companies and it will be guaranteed by the treasury.

Turkish Eximbank is the official export credit agency of the Turkish government.

Deputy Prime Minister Ali Babacan has said Turkey, Indonesia and the Islamic Development Bank have accelerated their efforts to establish a "megabank" with the aim of creating a platform to serve as a "central bank" for the world's Islamic lenders, as reported by Reuters.