Turkey, Qatar talk cooperation in participation finance

By Tuba Sahin

ANKARA (AA) - Representatives from the Participation Banks Association of Turkey (TKBB) and Qatar Financial Centre (QFC) gathered to discuss opportunities for cooperation in the field of participation finance.

The videoconference held Thursday, coordinated by the Turkish Presidency's Finance Office, aimed to develop cooperation between the two parties, according to a statement on Friday.

"The existing potential of both countries in the field of participation finance was underlined and the opportunities that can be achieved in this field by acting jointly were addressed during the meeting," read the statement from the office.

Noting that Turkey and Qatar could carry out numerous joint projects, the meeting highlighted the importance of increasing correspondence, especially on diversifying financial tools, as well as other issues including training and technical consultancy in the field of participation finance -- a major pillar in a landmark project for a financial center in Istanbul.

Efforts on developing bilateral cooperation have continued progressively under an agreement signed between Turkey's Finance Office and the Qatar Finance Center in 2019, the statement added.