Emlak Katılım secures approvals for planned company share transfers

Emlak Katılım has secured approvals for planned share transfers involving Katılımevim, Birevim and İktisat Katılım Bankası in Turkey.

The approvals came from the Treasury and Finance Ministry, the competition authority, the capital markets regulator and the banking regulator.

The required regulatory processes are complete, but Emlak Katılım has not said the shares have actually changed hands.

The bank says it joined the process to support financial stability and protect customers, while the three firms continue their existing activities.

Customer deliveries continued without interruption after the process was announced in September, according to Emlak Katılım.

The bank said Katılımevim and Birevim made 23,381 home, vehicle and workplace deliveries between September 17 and November 8, worth a combined 33.05 billion lira; completion of the share transfers has not yet been confirmed.