The run-up to Turkey’s June 7 general elections has been marked by President Recep Tayyip Erdogan’s intensive use of Islamic symbols and rhetoric, including rally appearances with the Quran. On May 29, the Constitutional Court announced a controversial ruling removing restrictions on religious marriages, while Erdogan led an inauguration ceremony of both economic and religious significance.
The event in Istanbul, attended by Cabinet ministers and complete with prayers, marked the launch of the first branch of the Ziraat Participation Bank, the Islamic unit of state-owned lender Ziraat, in line with government decisions to expand Islamic banking in the Turkish financial sector. Islamic banks are called “participation banks” in Turkey, a moniker for interest-free banking that refers to participation in profits from certain financial instruments.
