Dubai, UAE: Ziraat Bank, Türkiye’s leading financial institution, has commenced operations at its new office in the Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa, and South Asia (MEASA) region. This move reflects the bank’s continued commitment to provide financial services to its customers in the UAE and beyond.

The bank’s office in DIFC will focus on enhancing relationships with regional financial institutions and facilitating international operations of its clients, including Turkish businesses. Moreover, it will play a pivotal role in supporting entrepreneurs from the UAE in establishing and expanding their businesses through Ziraat Finance Group’s extensive network in Türkiye and other countries.

Commenting on this significant milestone, Dr. Ertan ALTIKULAÇ, Head of International Banking Group of Ziraat Bank Türkiye, said: “Ziraat Bank holds the distinction of having the most extensive international service network among Turkish banks, with a presence in 19 countries and 123 service points globally. The opening of our representative office in Dubai underscores our commitment to expanding our global footprint with promising business environment and strategic advantages offered by the DIFC.”

Recognised as the deepest financial centre between London and Singapore, DIFC has earned the trust of 250 banks, including 27 of the top 29 globally systemically important banks (G-SIBs) with its 20-year-strong reputation for transparency, effective regulation, and knowledge-building.

Salmaan Jaffery, Chief Business Development Officer of the DIFC Authority, said: “We are pleased that Turkish state-owned lender Ziraat Bank has chosen DIFC as its home in the UAE to support its global expansion plans. The Centre continues to attract some of the strongest financial institutions in the world, which is a testament to its world-class business ecosystem, legal and regulatory framework, and infrastructure. This announcement is a further testament to DIFC being the leading hub for regional champions from the Middle East, Africa and Türkiye, making it the region’s premier global financial hub.”

Last year, the UAE signed the Comprehensive Economic Partnership Agreement with Türkiye, which is expected to boost bilateral non-oil trade to more than $40 billion in the next five years, from about USD 19bn as of 2023. Furthermore, strong banking ties exist between the two nations, which have been further solidified through various strategic investments and collaborations. These efforts underscore the commitment of both countries to fostering a robust financial partnership, which is poised to drive economic growth and innovation in the banking sector.

Ziraat Bank has a strong presence in the Gulf region, with branches in Bahrain, Jeddah, Baghdad, and Erbil, in addition to its representative office in Cairo. The inauguration of the office in DIFC is a testament to the bank’s strategic vision to provide extensive, reliable service across the region.

About Ziraat Bank

Founded in 1863, Ziraat Bank is the largest and oldest bank of Turkiye and 100% state owned through Turkiye Wealth Fund. As being proud to be the market leader with its 16% market share, Ziraat Bank has always been contributed to economic development at different stages of Turkiye’s history.

The Bank has the largest domestic branch network exceeding 1,750 branches and the widespread ATM network with over 7,500 ATM’s in Turkiye along with an extensive international presence across 19 countries and 123 service points. Ziraat Finance Group includes 9 international banks and 6 domestic subsidiaries which operates in fields of conventional and participation banking, investment services, portfolio management, venture capital, real estate investment trusts and financial technologies.

Ziraat Bank, the only deposit bank authorized for extension of government subsidized agro-loans, has played a key role in the development and modernization of agricultural production in Turkiye with the support and know-how it has provided throughout its over 160 years history.

As being the sole bank in more than 350 districts, the Bank has a strong rural presence in Turkiye. The Bank provides high quality services to 42 million customers from retail, SME and corporate segments with more than 25,000 employees.

With a 20% market share in trade finance and extensive correspondent network exceeding 1,650 financial institutions over 140 countries, Ziraat Bank offers trade finance solutions including but not limited to Letter of Guarantees and Letter of Credits to enable its customers to handle their import, export and domestic trade transactions at selected service points.

Deposits, being the main funding source of the Bank due to its wide customer base, is complemented by access to external funding through syndicated loans, Eurobond and MTN issuances under GMTN programme, securitised funding under DPR programme, FX repo transactions with international banks, bilateral loans, and post-financing transactions.

For further information, please check our web address http://www.ziraat.com.tr/en/  

About Dubai International Financial Centre

Dubai International Financial Centre (DIFC) is one of the world’s most advanced financial centres, and the leading financial hub for the Middle East, Africa, and South Asia (MEASA), which comprises 77 countries with an approximate population of 3.7bn and an estimated GDP of USD 10.5trn.

With a 20-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe, and the Americas through Dubai. 

DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework, as well as the region’s largest financial ecosystem of 43,800 professionals working across over 6,150 active registered companies – making up the largest and most diverse pool of industry talent in the region. 

The Centre’s vision is to drive the future of finance through cutting-edge technology, innovation, and partnerships. Today, it is the global future of finance and innovation hub offering one of the region’s most comprehensive FinTech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulation, innovative accelerator programmes, and funding for growth-stage start-ups.  

Comprising a variety of world-renowned retail and dining venues, a dynamic art and culture scene, residential apartments, hotels, and public spaces, DIFC continues to be one of Dubai’s most sought-after business and lifestyle destinations. 

For further information, please visit our website: difc.ae, or follow us on LinkedIn and X @DIFC.

For media enquiries, please contact: 
Nivine William | Nisha Celina
Burson | bursonglobal.com
nivine.william@bursonglobal.com | nisha.celina@bursonglobal.com

Rasha Mezher | Dubai International Financial Centre Authority
Manager, Marketing & Corporate Communications
+9714 3622451
Rasha.Mezher@difc.ae