*Subject*: Kuveyt Turk to Open a Branch in Germany

Dear Sir/Madam,

Assalam O Alaikum

We have the pleasure to inform you that our Bank has been granted the
license by BaFin (The Federal Financial Supervisory Authority) to establish
a Financial Services Branch in Germany. This license will allow Kuveyt Turk
to introduce interest-free banking services to the German banking system,
and the new branch (to be established in Mannheim) will cover the financial
requirements of a wide customer base. Attached herewith, please kindly find
the related Press Release.

Reliable ownership structure, existing global network, promising growth and
financial performance and a 20 years of experience in purely Islamic Banking
sector in Turkiye may unquestionably be mentioned among the key parameters
that have played important role during the finalization of legal process by
the BaFin.

Under the license granted, not only a four million Turkish population in
Germany but also potential retail and/or corporate segments who have long
shown willingness to welcome interest-free services and products, shall
certainly take place among our targets. We also would like to state that in
line with our Bank’s strategy to expand global coverage, we will consider
expanding the network to other European countries, depending on market
demand and the performance of branches.

We shall, as we always do, continue to keep you informed of our activities
and in the same way and we would like to be informed by yourselves of mutual
business opportunities.

Taking this opportunity to pass my personal greetings and best wishes to you
, your family and all colleagues on the occasion of Ramadan and Eid Mubarak.

Best regards,

International Banking Department
Kuwait Turkish Participation Bank Inc.


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