Kuwait Turk Bank

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Kuwait Turk Bank (Kuveyt Turk Katılım Bankası) is a famous bank in Turkey for its high-quality banking services that meet the standards of Islamic law.

Kuwait Turk Bank is also known for its gold banking in Turkey and precious metal transactions, as the bank offers physical metal deliveries.

Who owns Kuveyt Turk Bank?

Kuveyt Turk Bank is owned by the following shareholders: Kuwait Finance House , General Directorate Foundations , lsamic Development Bank and Kuwait Public Institution for Social Security .

The largest shareholder of the bank is Kuwait Finance House, which owns 62.42% of the shares.

Islamic banking at Kuwait Turk Bank

In addition to gold banking, the bank mainly offers interest-free Islamic banking, which is based on the payment of profit shares.

Participating banks do not lend directly, but earn revenue from funds raised through the purchase or lease of certain currency items.

All services offered by the bank are checked and verified by the Islamic authorities.

Kuwait Turk Bank

Kuwait Turk Bank Services

Kuveyt Turk Bank offers many unique services from a range of banking services, in particular:

Issuance of credit cards

Pay bills online

Money transfer via MoneyGram

physical gold withdrawal through ATMs

Carrying out Swift Code transfers outside Turkey

transfer of funds within Turkey to other banks.

Issuance of prepaid cards and debit cards.

Invest in the stock market

Invest in mutual funds

Payment of taxes and fees

Kuwait Turk Bank

Swift Code for Kuveyt Turk Bank

To make international transfers from outside Turkey to an account at Kuwait Turk Bank, you can use the Swift Code: KTEFTRIS

Opening an account with Kuveyt Turk Bank for foreigners in Turkey

You can easily open an account with Kuveyt Turk as a foreigner by visiting the nearest branch with the following documents:

  • Passport
  • Proof of residence
  • Residence permit or work permit

After submitting the required papers, you will receive a contract and after signing, you will receive a debt card.

The bank also offers credit cards to foreigners.

With the mobile application or internet branch, you can easily open an account for foreign currency, precious metals or TL.

Kuveyt Turk Bank branches outside Turkey

Kuveyt Turk Bank has mainly two main subsidiaries outside Turkey:

  • KT Bank AG in Germany, where Turkish citizens can open an account online.
  • Kuveyt Turk Participation Bank Inc. Bahrain Overseas Branch

KT Bank Ltd

KT Bank AG is the first bank in Germany and the Eurozone to launch integrated financial products and services focused on legal, sustainable and open Islamic banking values.

KT Bank AG is a wholly owned subsidiary of Turkey's Kuveyt Turk Participation Bank, headquartered in Istanbul. The bank operates under German law for all transactions in Germany

XTM branches of Kuveyt Turk Bank

XTM Branch, Kuwait Turkish Bank's new banking platform where you can quickly manage your banking transactions. XTM is based entirely on local internal sources as functional as an ATM, and has an integrated special multimedia interface that is highly protected and rich as a branch. You can connect to computers in English, Arabic and Sign Language and conveniently perform your financial transactions in your own language.

The bank offers the ability to communicate remotely with customer service representatives and is considered one of the newest banking technologies in the world

Kuwait Turk Bank

Gold Banking in Kuveyt Turk

  • You can buy only 0.01 grams of gold in 995/1000 carat at Kuveyt Turk Bank.
  • You can receive gold checks and make gold transfers.
  • You can withdraw all gold deposits at any time at Kuveyt Turk branches (you must first call customer service so that the bank can provide the required amount if it is large).
  • You can withdraw 1, 1.5, 2.5, 5, 10, 20, 50 and 100 grams from the branch.
  • There is also the possibility of withdrawing 1 kg of gold bars from the branch produced by Produced by Argor Heraeus SA3
  • You can withdraw 1 gram of gold and a quarter of a gold lira from Kuveyt Turk's gold ATMs.
  • On some days, the bank branch has "golden days" when a committee accepts physical gold deposits after verification.
  • There are fees for converting electronic gold into physical gold.
Kuwait Turk Bank

Silver account in Kuveyt Turk

You can easily open a silver account at Kuwait Turk Bank.

The bank offers silver with a purity of 1000 (one thousand).

You can buy as little as 0.01 grams of silver.

Starting in 2020, the bank will offer a physical silver withdrawal for a minimum of 50 kg. Bank charges safe van fees as well as physical silver withdrawal fees.

Kuwait Turk Bank

Platinum account in Kuveyt Turk

You can open a Platinum account with the bank and perform all transactions to invest in Platinum.