Emlak Participation became the first participation bank to launch an important service that will contribute to the development of participation-based capital markets in Turkey. Emlak Katılım started to provide Turkey’s first participation-based portfolio custody service and signed a cooperation agreement with Arz Portföy.
Emlak Participation, which has introduced many first-of-its-kind products to the sector since its establishment, has reached an agreement with Arz Portföy to provide Portfolio Custody Services to certain participation-based funds following the portfolio custody operating license obtained from the Capital Markets Board (CMB). At the press conference held at Emlak Katılım Bank Head Office, the importance of the contribution of the cooperation between the two institutions to participation-based capital markets was emphasized. Emlak Katılım Bankası General Manager İlker Sırtkaya and Arz Portföy General Manager Murat Onuk attended the press conference.
“We will contribute to the healthy development of the sector”
Following the agreement, Emlak Participation General Manager İlker Sırtkaya expressed his satisfaction for contributing to participation-based capital markets: “While participation banks have important responsibilities for the growth and development of participation-based capital markets, it is very important for the sector to grow on the basis of trust that participation finance institutions cooperate and support each other in this field. While it is important that participation-based funds managed according to the principles of participation finance are audited by the portfolio custodian within the scope of the legislation, it is also important that these funds are audited according to the principles and principles of participation finance, which is an important issue that we should take into account for interest-sensitive customers. As Emlak Katılım, we will fulfill our portfolio custody activities by paying attention to these two issues. In this respect, we are very pleased to have reached an agreement to provide portfolio custody services to certain funds of Arz Portföy, one of the important players in the sector, following our operating license obtained from the CMB. Within the scope of this agreement, we will continue to contribute to the healthy development of the sector.”
“We will grow together”
Murat Onuk, Board Member and General Manager of Arz Portföy, one of Turkey’s pioneering and leading participation-based real estate and venture capital asset management companies, stated that an important service has been brought to the capital markets and continued his words as follows: “The volume of participation-based capital market products is gradually increasing in our country. However, especially in the recent period, real estate and venture capital investment funds, which we describe as alternative investments, have grown significantly. The fact that Emlak Katılım, one of the distinguished institutions of our country, has started to offer participation-based portfolio custody services has enabled us, as Arz Portföy, to offer end-to-end participation-based products to our investors. We continue our consultations with all actors and public institutions in the sector, particularly Emlak Katılım, on the development of the participation finance sector. As an important achievement of our consultations, Emlak Katılım has brought an important service to the field of asset management, which has also pleased us in terms of the development and deepening of our capital market. In this respect, I would like to extend my sincere thanks to Emlak Katılım for its valuable contributions to the participation finance sector. Hopefully, our participation finance sector will grow together with the cooperation of stakeholders and will continue to make unique contributions to our country’s goal of becoming a participation finance center on an international scale.”
