This reinforces DIB’s presence in the country’s financial market and builds on the initial acquisition made in September 2023, when DIB acquired a 20% minority stake. The 2023 acquisition aimed to promote financial inclusion by facilitating access to digital financial services in Turkey.
The TOM Group comprises TOM Katılım Bankası, Türkiye’s licenced digital retail bank, TOM Pay Elektronik Para ve Ödeme Hizmetleri, a licenced e-money company, and TOM Finansman, a financing company focused on digital innovation.
DIB’s increased investment highlights its confidence in the country’s financial sector, driven by an expanding digital infrastructure. The decision also comes as a response to the market’s performance for the recently launched digital bank.
The increased shareholding solidifies DIB’s position as a key stakeholder and projects an improvement in the country’s strategic intent around tech-based economic development. Türkiye continues to be a pivotal market for DIB, given its sizeable population, rapidly expanding digital infrastructure and impressive economic growth trajectory.
The move aligns with DIB’s vision to drive financial inclusion and offer Sharia-compliant financial services to underbanked and non-banked regions. It reflects the objective of building a future-proof and tech-rich global Islamic financial model with built-in intelligence to evolve with customer needs.
Banks in the GCC region are strongly interested in expanding their presence in major regional markets, particularly Turkey, Egypt, and India, driven by improved economic conditions and growth opportunities in target markets.
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