Albaraka Turk Opens Branch in Iraq in Gulf Expansion, Dunya Says

Albaraka Turk Katilim Bankasi AS (ALBRK), a Turkish Islamic bank, opened a branch in Erbil, northern Iraq and plans to expand into the Middle East and Balkans, Dunya reported.

The bank, which is majority owned by Bahrain’s Albaraka Banking Group (BARKA), is seeking to open more overseas branches in Qatar, Dubai and Bahrain as well as in Germany, Kosovo, Albania and Bosnia, Dunya said, citing chief executive Fahrettin Yahsi.

To contact the reporter on this story: Benjamin Harvey in Istanbul at bharvey11@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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