Bloomberg News

Turkey Hires Ex-Islamic Banker Oztekin as Chief Regulator

June 22, 2012

Turkey appointed Mukim Oztekin, formerly of Islamic banks Albaraka Turk Katilim Bankasi AS (ALBRK) and Asya Katilim Bankasi AS (ASYAB), chief of the country’s banking regulator.

The decision to hire Oztekin for five years was published in the Ankara-based Official Gazette today. He last worked as a board member of the Savings and Deposits Insurance Fund, which manages the assets of failed banks, according to state-run Anatolia news agency. He also worked at Turkiye Garanti Bankasi AS (GARAN), the country’s biggest bank by market value.

Prime Minister Recep Tayyip Erdogan’s government, rooted in an Islamic movement banned from politics in 1997, and other institutions have broken with Turkey’s staunchly secular traditions by seeking to appoint Islamic bankers to key positions in the state. The central bank hired Sabri Orman, an expert on Islamic economic thought, to its board in November. Former President Ahmet Necdet Sezer rejected Erdogan’s appointment of an Islamic banker as central bank chief in 2006.

Sakir Ercan Gul was appointed chairman of the Savings Deposit Insurance Fund for a second five-year term, according to today’s announcement. Gul previously worked at state-run Turkiye Halk Bankasi AS and the Finance Ministry.

To contact the reporter on this story: Mark Bentley in Istanbul at mbentley3@bloomberg.net

To contact the editor responsible for this story: Riad Hamade at rhamade@bloomberg.net


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