November 21, 2018 / 9:33 AM / a year ago

Turkey's Emlak Bank to apply for operation licence, main branch expected to open in 2019 - minister

ANKARA, Nov 21 (Reuters) - Turkey’s Emlak Bank has applied for an operation licence and is expected to open its main branch and receive permission from the banking watchdog in 2019, Environment and Urbanisation Minister Murat Kurum said on Wednesday.

Speaking in parliament, Kurum also said Emlak Bank would significantly contribute to a target of increasing the share of Islamic banking to 15 percent of the overall industry. He said the bank had started efforts to improve work in the construction and housing sectors. (Reporting by Gulsen Solaker and Nevzat Devranoglu; Writing by Tuvan Gumrukcu; Editing by David Dolan)

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