Albaraka Türk launches mobile-only banking service for Europe's Muslim community

Albaraka Türk launches mobile-only banking service for Europe's Muslim community

Turkey's Albaraka Türk is targeting the large Muslim community across Europe with the launch of an interest-free digital banking app.

Insha, which is built on the banking platform of solarisBank, is initially being rolled out in Germany ahead of a Europe-wide expansion.

Available in the App Store and on Google Play, insha features a document-free account opening process and comes complete with a debit card.

In addition to financial products, the app offers a range of Islamic-friendly services including a Zakat Calculator and a “Nearest Mosque” locator.

Melikşah Utku, general manager at Albaraka Türk, says that the insha project marks the first step in the bank’s strategic entry into the European market.

“We are very happy and proud to have taken the first step with the insha project in Europe, home to more than 20 million Muslims," he says. "An innovative app like insha answers the financial services needs of both Turkish citizens and Muslims living in Europe."

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