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News

As the Eurozone’s first Islamic bank, we are pioneers of a growing business sector. Our market entry raised the public awareness for Islamic banking. Keep yourself updated about our news and what the international media says about us.

KFH Group winning again at Global Finance Awards (October 2018)

This year again, the KFH Group group has been honored in several categories of the Global Finance Awards: Kuwait Finance House (KFH) as “Safest Islamic Bank in the GCC 2018“, Kuveyt Türk Participation Bank as “Best Islamic Bank in Turkey” and KT Bank AG as “Best Islamic Bank in Europe“. The leading international finance magazine „Global Finance“ awards every year banks and financial institutes around the globe for outstanding achievements. The event took place on October 13th 2018 in Bali during the Annual Meetings of the International Monetary Fund IMF and the World Bank Group. The awards were received by Mazin Saad Al-Nahedh, Kuwait Finance House-Group CEO and Ufuk Uyan, CEO of Kuveyt Türk. 

KT Bank AG launches first automated instalment card (September 2018)

In September 2018, KT Bank is featured across business media with the news of introducing an instalment card that is unique in Germany. Jetzz Card is an automated instalment solution with ethical standards based on the Debit Mastercard and a cost-effective alternative to a conventional instalment credit. See more:

KT Bank AG in JOIFA Journal (July/ August 2018)

KT Bank AG CEO Ahmet Kudsi Arslan has published a 4-pages guest contribution paper in the half-yearly, official b2b magazine JOIFA-Journal (Journal of Islamic Finance Accountancy) of the AAOIFI Accounting and Auditing Organization for Islamic Financial Institutions, the leading institute for the development and issuance of standards for the global Islamic finance industry. Mr. Arslan gives an “Industry Update” and reports about the pioneering Islamic banking achievement of KT Bank in Germany and in the Eurozone as a player in the ethical banking segment. Read more.

KT Bank AG launches mobile banking app (June 2018)

Banking anywhere, anytime – the new KT Mobile Banking App allows clients to do their banking conveniently and securely from their mobile device. Now available for IOS and Android. Further information

KT Bank AG at Convention of the Turkish-German Health Foundation and Konrad-Adenauer-Stiftung (June 2018)

“Intelligent and targeted investing into our future“ was the topic of the Convention of the Turkish-German Health Foundation and the Konrad-Adenauer-Stiftung about future perspectives for Hesse and the Rhine-Main region on June 7, 2018 in Frankfurt. Hessian finance minister Dr. Thomas Schäfer MdL presented fiscal guidelines and KT Bank Board Member Torsten Lüttich explained interest-free financing options.

KT Bank AG supports international conference “Faith & Finance“ (May 2018)

KT Bank was the cooperation and sponsoring partner of the top-class, international conference “Faith & Finance: The Role of Religion and Belief Systems in Modern Economies” which took place on May 4th, 2018 at the Institute for Islamic Studies and Intercultural Cooperation (IFIS&IZ) in Mannheim. The event was conducted in collaboration with the institute’s supporting association Culture House of European Muslims (KUDEM).The speakers, all luminaries in their respective fields, came from all over the world – economics professors and bankers, legal professionals, ethics experts, as well as entrepreneurs and representatives of regulatory authorities. They exclusively informed a distinguished audience about the latest developments in the faith-based and ethical banking sector and their impact on todays’ financial markets.As first and only bank in Germany with sharia-compliant finance products, KT Bank supported this pioneering event which provided Islamic banking in a European context with a scientific base for the first time.In the end, everybody agreed: Religious finance concepts like Islamic banking can be drivers for a change of culture in the global economy!

“The country needs different banks“ (March 2018)

The event series “Ethical-ecological money management” of the organization Umwelt-Akademie e.V. in cooperation with „Geld mit Sinn e.V.“ had Islamic banking as its theme – under the motto “The country needs different banks“ –and had invited KT Bank to hold the keynote speech about its Islam-compliant business model and economically applied Islamic-ethical values. The KT Islamic Compliance Department explained the social sustainability aspect of interest-free financing and presented Islamic banking as progressive alternative for the Euro area.

KT Bank AG at Round Table „Islamic Finance“ of Frankfurt Economic Development (February 2018)

On February 1, 2018, at the Round Table „Islamic Finance“ of Frankfurt Economic Development, KT Bank AG presented the principles and the business model of Islamic banking in front of 50 hand-picked guests, mainly representatives of banks, asset funds and family offices. The audience came together in the grand hotel Hessischer Hof to learn more about the potential of Islamic banking in Germany and in the Eurozone. For the pioneer in this segment, KT Bank AG, the event was a further positive step concerning the participation in the German business community.

Islamic banking on growth course: DPA interview with multiple publication (January 2018)

In January 2018, KT Bank AG is featured across leading German-speaking news and business media with an article based on an interview with German Press Agency DPA, which reports about KT Bank’s successful growth course and the potential of Islamic banking in the Euro area. Article example.

Review of 2017 and preview of 2018 for Islamic banking in Germany (Dezember 2017)

KT Bank Chairman Ahmet Kudsi Arslan contributed to the Islamic Finance news Annual Guide 2018. Read more.

Kuwait Finance House (KFH) and KT Bank AG sign Euro Vostro Account services deal (November 2017)

Kuwait Finance House (KFH) has signed a bilateral cooperation agreement with KT Bank AG, the first bank in Germany and in the Eurozone with Islamic business model, in terms of Euro Vostro Account Services.From now on, KT Bank provides Euro clearing and settlement services for KFH, one of the foremost Islamic financial institutions in the world, and main shareholder of KT’s mother bank Kuveyt Türk Katılım Bankası A.Ş. With the signature of the Vostro account agreement, Kuwait Finance House, Kuveyt Türk and KT Bank AG, jointly renowned to be the driving pioneers of Islamic banking in the Eurozone, are moving even closer together as a group.KT Bank AG as a direct member of Target 2 and SEPA payment schemes, provides Clearing and Settlement Services in Euro currency to financial institutions and automatically routes all incoming and outgoing Euro payments all over the world according to EU standards.Group Chief Treasury Officer at KFH, AbdulWahab Al Roshood said: “With the launch of KT Bank via our subsidiary Kuveyt Türk in the year 2015, KFH has become strongly invested in Germany. Now we are also able to use KT Bank as our Euro clearer which provides added value for the whole group.” KT Bank’s Chairman of the Management Board Ahmet Kudsi Arslan emphasizes: “With creating such correspondent banking synergies within our group, we strengthen our overall market position in the Euro area.”

Islamic banking enhances western economic ethics (October 2017)

Faith and finance: KT Bank AG‘s Chairman Ahmet Kudsi Arslan explains in a special supplement of Börsen-Zeitung on the issue, why Islamic banking with its universally ethical principles enhances conventional economic systems. Read more.

KT Bank AG is Global Finance Award 2017 winner (October 2017)

Last weekend in Washington D. C., KT Bank was awarded for its pioneer efforts in the Islamic banking sector with the prestigious Global Finance Award as „Global Best Up-And-Coming Islamic Financial Institution 2017“. The leading international finance magazine „Global Finance“ awards every year banks and financial institutes around the globe for outstanding achievements. The Award was received by Mazin Saad Al-Nahedh, Kuwait Finance House-Group CEO, to which KT Bank belongs, in the National Press Club USA. Kuwait Finance House was itself awarded “Best Islamic Project Finance Provider in the World 2017”. The Global Finance Award took place during the meetings of the International Monetary Fund IMF and the World Bank from 9-15 October.

Opening of new branch office in Cologne (October 2017)

The KT Bank’s Cologne branch is now officially open for customers. The opening of the branch, which is strategically placed in the DITIB (Turkish-Islamic Union for Religious Affairs) Central Mosque complex, marks another milestone in the bank’s stable business development. The festive opening ceremony was embedded in the annual “Day of Open Mosques” and concurred with the opening of the DITIB shopping arcade by the DITIB board and the Mayor of Cologne, Henriette Reker.
The arcade is an attractive meeting spot for both mosque visitors and the people of Cologne. From Islamic prayer supplies and halal restaurants to KT bank’s shariah-compliant banking products, it features all kinds of goods, products and cuisine in accordance with the ethics of Islam.
“The potential for Islamic banking in Northrhine-Westphalia (NRW) is large, considering our main target group of Turkish Muslims“, says KT Bank’s Chairman of the Management Board Ahmet Kudsi Arslan. „With 1.5 million, NRW has the largest Muslim population in Germany and the almost 950,000 people of Turkish descent make up the largest immigrant group in NRW. Furthermore, important Turkish and German-Turkish entrepreneurs associations, Muslim religious societies, charity organizations and the most mosque communities can be found here.”
The rush of visitors on the “Day of the Open Mosque” and the DITIB shopping arcade opening was enormous – more than 6,000 guests of all faiths and backgrounds flocked to the building complex of the DITIB Central Mosque, and many of them acquainted themselves about Islamic banking at the KT bank‘s information booth in front of the branch.
Arslan continues: “In the Cologne branch, we offer our complete portfolio of certified Islamic banking products and services for retail, corporate and institutional clients – without interest-bearing moneylending, but rather asset-backed and thus supporting the real economy, compliant with our ethical criteria. We offer free-of-charge current accounts without overdraft, profitable investment opportunities based on the principle of profit-sharing, real estate financing, instalment loans, investment loans for business resources and much more. At our opening, we were also visited by numerous non-Muslims – we can and wish to be an ethical local bank for all customers in NRW.” 

No interest: Investing money according to the sharia (September 2017)

FAZ.NET inquires, if Islamic banking is a model for German savers. In an interview, the KT Bank AG Chairman of the Management Board, Ahmet Kudsi Arslan, explains the universal SRI (Socially Responsible Investment) approach of Islamic banking and its advantages in the low interest rate euro environment.Read more.

Salaam Gateway: Two years after opening, Germany’s only Islamic bank posts strong growth (September 2017)

In an interview with Salaam Gateway, the leading global reference for Islamic economy intelligence and a joint effort between Dubai Islamic Economy Development Centre and Thomson Reuters, the KT Bank Chairman of the Management Board, Ahmet Kudsi Arslan, talks about the development of KT Bank and Islamic banking in Germany.Read more.

Islamic banking – new player of western economic ethics (July/ August 2017)

In the business magazine BankingNews, targeting an audience of the finance industry’s decision makers, the press speaker of KT Bank explains why the faith-based banking system from the Orient contributes to a stable and ethical western finance market.Read more.

KT Bank AG experts featured as guest authors in Global Investor (June 2017)

Our Chairman of the Management Board, Ahmet Kudsi Arslan, and our Regulatory Reporting expert in the Financial Management Department, Ferdi Ilkhan, give an insight into why Islamic banking is a progressive alternative for Western economies as guest authors in the investment funds-targeted business magazine Global Investor with a print circulation of 20,000.Read more.

KT Bank AG continues to grow (March 2017)

With the completion of its infrastructural establishment phase, KT Bank AG maintains its growth course in 2017 since its operative market entry in July 2015.

Key achievements

A diverse and innovative financial product and services portfolio for retail and corporate clients has been implemented successfully, adhering to cutting-edge technological standards.
All products are endorsed with Islamic Compliance Certificates.
KT Bank AG’s total asset size has doubled from end of 2015 until end of 2016.
KT Bank AG’s portfolio also includes Islamic banking products and services for institutional clients, like Euro account and clearing services.
The first step of direct banking has been established by implementing an online account opening system.
Ufuk Uyan, Chairman of KT Bank AG’s Supervisory Board, Chief Executive Officer and Member of the Board at the mother bank Kuveyt Türk Participation Bank in Istanbul, announces further growth: „In 2017, KT Bank AG expects another 80 per cent increase in assets. We have a strong background – the mother bank Kuveyt Türk is the largest Islamic bank in Turkey. We are backed by the Kuwait Finance House, one of the foremost Islamic financial institutions on the globe. Yet we could not have done this pioneer effort alone. The German regulatory authorities have been very cooperative during our challenging implementation of this new business model. Key political and business players in the Eurozone have embraced that Islamic banking can contribute to a stable and ethical financial market in Western economies.”

New CEO end of April 2017

KT Bank AG will also have a new CEO in the near future. Kemal Ozan, Islamic banker „of the first hour“, who led the KT Bank AG’s foundation project since August 2012 and, since its market entry in March 2015, heads the bank as CEO and Chairman of the Management Board, will „hand over the flag“ end of April 2017 to his fellow KT Bank AG board member Ahmet Kudsi Arslan who then will be appointed CEO.
Ufuk Uyan: „Kemal Ozan has played an important role in the development phase of KT Bank AG in the Eurozone with his expertise and experience. We thank him for his support and commitment.“
Kemal Ozan: „With the completion of the establishment phase of KT Bank AG, I have accomplished my mission. I am immensely proud to have been able to contribute substantially to such an important project and will now take on new challenges.“
Ahmet Kudsi Arslan, who has already been part of the mother bank Kuveyt Türk in several leading position since two decades, is looking forward to a successful 2017: „KT Bank AG is today in a very good place, with a total of 70 employees, four branches and a steady influx of client inquiries. We will continue to grow, with the support of the Turkish and Muslim communities, our German clients who are interested in „Socially responsible investing“ (SRI) and our strong mother company.“

Ahmet Kudsi Arslan appointed a Board Member with immediate effect (January 2017)

KT Bank AG expands its Management Board effective immediately. KT Bank AG’s Deputy CEO Ahmet Kudsi Arslan has been appointed a Board Member on January 01, 2017. Ahmed Kudsi Arslan is KT Bank AG’s experienced Islamic banker from Turkey. Since two decades, Arslan has been part of Kuveyt Türk in several leading positions, e. g. in the wealth management and private banking and in the corporate & commercial credit management divisions, as branch manager, marketing coordination supervisor and financial analysts. Under the leadership of the KT Bank AG Chairman of the Management Board, Kemal Ozan, and together with Board Member Torsten Lüttich, Arslan is looking forward to a successful 2017.By adding this new Board Member, the KT Bank AG maintains its growth course in 2017 since its operative market launch in July 2015. The diverse product portfolio of KT Bank AG includes comprehensive financial products and services according to the ethical, sustainable and transparent Islamic banking principles for retail and corporate clients and found a ready market of interested clients, media and general public.

Withdraw money free of charge in more than 4,100 Netto stores (October 2016)

Customers of KT Bank AG can get cash at no charge at more than 4,100 Netto Marken-Discount Stores in Germany. Click here for further information.

KT Bank AG offers free account change service (July/ August 2016)

The KT Current Account now comes with a free account change service. For customers who open a KT current account we cancel their old account with a different bank and transfer it to their new KT Current Account. Learn more

KT Current Account promotion (May/ June 2016)

The free KT Current Account comes with many advantages: no account maintenance charges, free Maestro EC Card and free online banking. Customers who open an account until July 31, 2016, get free remittances to Turkey!

KT account openings: new with VideoIdent (April 2016)

Opening a KT account is fast and easy with the new video identification for personal computer, tablet or smartphone. Learn more

Market gap: Retirement provisions for Muslims (March 2016)

The German media raises public awareness for a huge market gap: with more than 4 million Muslims living and growing old in Germany, specific retirement provision concepts are urgently required. The KT Bank AG contributes with its real estate financing concept according to Islamic banking principles.

KT Bank AG contributes to a multicultural German society (January/ February 2016)

In a regional TV broadcast around KT Bank AG’s branch in Mannheim, the bank and its business model of Islamic banking is featured as an important player for the German economy and the integration of Germany’s multicultural society.

‚Heaven’s bankers‘ unify profits and ethics (December 2015)

The German media reports about the market development of religious investments and announces the top perfomance of Islamic funds with a plus of 7.6 % during the last 10 years.

18. EURO FINANCE WEEK: Islamic Finance Conference powered by KT Bank AG (November 2015)

EURO FINANCE WEEK (EFW) is the largest industry meeting in Europe for banks, stock exchanges, insurance and financial services. On the first day of the EFW, the KT Bank AG and Maleki Group invite high-level international participants to the Islamic Finance Conference to discuss Islamic banking as progressive alternative for Western economies.

Islamic Finance: Large potential in Germany (September 2015)

The leading German business magazines „Börsen-Zeitung“ and „Das Investment“ declare that Islamic banking has substantial potential in Germany due to the millions of Muslims living in Germany and the G20 summit putting Islamic banking on the world map.

‚Islamic financing models gain worldwide importance‘, says German finance minister (September 2015)

„Islamic financing instruments are of growing significance in the global economy“, stated the German finance minister Wolfgang Schäuble according to sources at the G20 summit in Ankara.International financial institutions should increasingly occupy themselves to integrate such models into the worldwide financing structure, according to the minister.

‚Germany’s first Islamic bank: Sharia and no interest‘ (August 2015)

WebTV broadcast about KT Bank AG’s operation in Germany. Watch it

KT Bank is on international focus (July/ August 2015)

Interview with KT Bank’s CEO in MGCC Perspectives, the Business Magazine of the Malaysian-German Chamber of Commerce and Industry. More

Stiftung Warentest – Federal German consumer protection organisation for product testing introduces KT Bank AG (May/ June 2015)

Stiftung Warentest, the German consumer organisation and foundation involved in investigating and comparing goods and services in an unbiased way, introduces the KT Bank AG and the Islamic banking model in their finance magazine.

Top tier media exposure for KT Bank AG market entry (April 2015)

The market entry of the KT Bank AG makes international headlines: The launch of Germany’s first Islamic bank is big news in the Eurozone and in international top news and business media in March and April 2015: More than 1,000 publications cover the news and pave the way for an increased public awareness of Islamic banking.

KT Bank AG, Kuveyt Türk's German subsidiary, is granted the licence to launch operations (March 2015)

Kuveyt Türk Participation Bank has been licensed by the Federal Financial Supervisory Authority (BaFin) to offer banking services in Germany. Thus, the first bank based on an interest-free Islamic business model is licensed in Germany. Kuveyt Türk has obtained its license from the Federal Financial Supervisory Authority (BaFin) to provide fully-fledged banking services in Germany according to the interest-free Islamic banking principles. Kuveyt Türk is the first Islamic bank that has been fully licensed to operate its deposit and loan business in Germany. With this license, Kuveyt Türk is the pioneer that introduces the Islamic banking model in Germany.
KT Bank AG with headquarters in Frankfurt am Main and as a 100 percent subsidiary of Kuveyt Türk Participation Bank, will start to offer its reliable, high-quality, fast and user-friendly services from July 01, 2015 onwards. KT Bank AG will provide its retail and corporate customers with products and services according to interest-free Islamic banking principles.

Press Contact

Katja Zimmer PR Manager KT Bank AG Platz der Einheit 1 60327 Frankfurt am Main Germany E-Mail: presse@kt-bank.de