Question 1

What is T.O.M. Katılım Bankası A.Ş.?

Accepted Answer

T.O.M. Katılım Bankası A.Ş. is one of Turkey's digital participation banks, established to provide Islamic banking services exclusively through digital channels. The bank was founded to increase the market share of participation banking in Turkey and improve financial inclusion through innovative digital distribution channels.

As a participation bank, T.O.M. Katılım operates according to Islamic finance principles, offering interest-free banking products and services that comply with Sharia law. The bank is positioned as a digital-first institution, conducting all operations through digital platforms without traditional physical branches.

Question 2

When was T.O.M. Katılım Bankası A.Ş. founded?

Accepted Answer

T.O.M. Katılım Bankası was established as a digital participation bank under regulations governing digital banks and service model banking in Turkey. The bank was founded in accordance with the Banking Law, the Regulation on Activity Principles of Digital Banks, and Service Model Banking.

The bank commenced operations in 2023, joining Hayat Finans Participation Bank as one of Turkey's first two digital participation banks to enter the sector that year. This marked a significant development in Turkey's participation banking sector, which had been expanding since the mid-2010s with the inclusion of public participation banks.

Question 3

Where is T.O.M. Katılım Bankası A.Ş. headquartered?

Accepted Answer

T.O.M. Katılım Bankası is headquartered in Turkey. As a digital bank operating exclusively through digital channels, the institution does not maintain traditional branch networks and serves customers entirely through online and mobile banking platforms.

The bank's digital-native model eliminates the need for extensive physical infrastructure, allowing it to focus resources on technology and customer service.

Question 4

Where does T.O.M. Katılım Bankası A.Ş. operate?

Accepted Answer

T.O.M. Katılım Bankası operates throughout Turkey exclusively via digital channels. The bank serves customers nationwide through its mobile applications and online banking platforms, providing 24/7 access to participation banking services without geographic limitations.

This digital approach enables the bank to reach customers across all regions of Turkey without the constraints of physical branch locations, improving financial inclusion and accessibility.

Question 5

What services does T.O.M. Katılım Bankası A.Ş. offer?

Accepted Answer

T.O.M. Katılım Bankası offers participation banking services including profit-sharing accounts (katılım hesapları), Islamic financing products, foreign currency and Turkish Lira accounts, payment services, money transfers, and digital banking solutions.

The bank provides participation finance products structured according to Islamic principles such as murabaha (cost-plus financing), mudaraba (profit-sharing), musharaka (partnership financing), and ijara (leasing). Corporate and commercial banking services include trade finance, non-cash credits such as letters of guarantee, and working capital financing.

All banking services are delivered exclusively through digital channels including mobile applications and internet banking platforms. The bank leverages financial technology to provide convenient, accessible, and Sharia-compliant banking experiences to individual and corporate customers across Turkey.

Question 6

What makes T.O.M. Katılım Bankası A.Ş. unique?

Accepted Answer

T.O.M. Katılım Bankası distinguishes itself as one of Turkey's first digital participation banks, combining Islamic finance principles with cutting-edge financial technology. The bank's digital-only model represents a significant innovation in Turkey's participation banking sector.

The establishment of digital participation banks like T.O.M. Katılım aims to increase the participation banking sector's market share, which stood at 8.7% of Turkey's total banking sector in 2023. The digital approach improves financial inclusion by reaching customers who may prefer digital banking channels or have limited access to physical bank branches.

The bank operates under comprehensive regulatory oversight from the Banking Regulation and Supervision Agency (BRSA), ensuring compliance with both digital banking regulations and participation banking principles. Its digital-first approach enables operational efficiency and the ability to innovate rapidly in product development and customer experience.

Question 7

What type of financial institution is T.O.M. Katılım Bankası A.Ş.?

Accepted Answer

T.O.M. Katılım Bankası A.Ş. is classified as a participation bank (katılım bankası) under Turkish Banking Law No. 5411, specifically operating as a digital bank. Participation banks in Turkey are Islamic banks that operate according to interest-free banking principles compliant with Sharia law.

The bank's dual classification as both a participation bank and digital bank means it conducts all participation banking activities exclusively through digital channels, distinguishing it from traditional participation banks that maintain physical branch networks. This classification allows the bank to accept profit-sharing deposits and provide Islamic finance products to both individual and corporate customers entirely through digital platforms.

T.O.M. Katılım Bankası A.Ş.

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