Turkiye Finans CEO quits

CEO of largest Islamic bank in Turkey resigns

Turkiye Finans CEO quits

World Bulletin / News Desk 

The CEO of Turkiye Finans -- the largest Islamic finance institution in Turkey -- has resigned, the bank said in a regulatory filing to Borsa Istanbul on Monday.

Derya Gurerk, who had managed the bank since 2011, officially resigned on Friday. The statement gave no reason for his leaving the position.

Executive Vice President Osman Celik will take over the role temporarily, the bank said.

Turkiye Finans is 67.03 percent owned by the National Commercial Bank of Saudi Arabia. Turkey's Boydak Holding owns 22.34 percent, and Gozde Girisim Sermayesi Yatirim Ortakligi, a Turkish private equity firm, owns 10.57 percent.

Gurerk also serves as the board president of the Participation Banks Association of Turkey, an association of Islamic finance houses. Gurerk has not announced his resignation from this post.

The resignation comes at a time when the Islamic finance sector is seeing considerable expansion in Turkey.

Güncelleme Tarihi: 15 Haziran 2015, 17:58