Vakif Katilim

What Vakif Katilim does

Vakif Katilim Bankası A.Ş. is a Turkish participation (Islamic) bank founded in 2015 and headquartered in Ümraniye, Istanbul. It operates under a profit-and-loss sharing model rather than conventional interest-based banking, offering Sharia-compliant equivalents of deposit accounts (katılma hesapları), consumer financing, housing finance, vehicle finance, commercial finance, foreign trade services, cards, POS products, insurance and pension distribution, and capital market products. The bank is owned by four Ottoman-era endowment foundations (Bayezid II, Mahmut I, Mahmut II, and Murat Pasha Foundations) and is supervised by the Banking Regulation and Supervision Agency (BDDK). It reports 888.9 billion TL in total assets and 591.4 billion TL in cumulative economic support provided to the economy, serving individual, commercial, SME, and sectoral (agricultural, renewable energy, OIZ) customer segments across Turkey with a presence in Istanbul, Ankara, and Izmir.

The bank's technology stack is built around a digital-first distribution layer anchored by the Vakif Katilim Mobil Şube mobile application (iOS, Android, Huawei), an internet banking platform, a 24/7 customer communication center, and a remote customer acquisition system that uses NFC-enabled identity verification with biometric facial recognition over video call. This enables fully branchless account opening, which is paired with a preferential 98/2 TL profit-sharing ratio for digital customers. Supporting products include the FAST instant free payment service, the KTS installment system, the p@ket e-transformation platform (e-invoice, e-archive, e-despatch), the VKart personal and business card lines, and the VClub loyalty program integrating merchant discounts.

Revenue is generated primarily through profit-sharing income on financing extended via murabaha, ijara, and other Islamic finance contracts, complemented by transaction-based fees and commissions (e.g., a 0.5% financing allocation fee), card interchange, foreign trade service fees, and subscription-style digital banking services such as investment account management and securities trading. Go-to-market is hybrid: digital self-serve acquisition through the mobile app and video call onboarding, combined with traditional branch-based relationship banking for complex commercial products, supported by an ecosystem of merchant partnerships and loyalty campaigns. Certifications include ISO 9001 for quality management and ISO/IEC 27001:2022 for information security management.

Name

Vakif Katilim

Legal name

Vakıf Katılım Bankası A.Ş.

Website

https://vakifkatilim.com.tr

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Vakif Katilim is a Turkish participation (Islamic) bank founded in 2015 offering Sharia-compliant deposit, financing, card, trade, and digital banking services to retail, commercial, and SME customers across Turkey, owned by four Ottoman-era endowment foundations.

Ownership category

akta.pro rank

Product category

Participation Banking

NAICS

Depository Credit Intermediation (5221)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Islamic Retail Banking (FSABAGAA)

akta.pro secondary industries

Islamic Corporate Banking (FSABAGAC), Islamic SME & Commercial Banking (FSABAGAB), Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam) (FSABAGAH), Islamic Deposit & Account Products (Current/Savings/Investment Accounts) (FSABAGAI), Islamic Investment Banking & Capital Markets Services (FSABAGAG)

Keywords

• Participation banking
• Islamic finance
• Consumer financing
• Commercial banking
• Digital banking

Headquarters

HQ city

Istanbul

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Financing/Profit-Sharing Income: As a participation bank, Vakıf Katılım generates revenue through profit-sharing arrangements (murabaha, ijara, and other Islamic finance contracts) rather than interest. The bank extends financing to customers and shares in the profits according to predetermined ratios.
2. Fee and Commission Income: Revenue from various banking fees including account maintenance, transaction fees, financing allocation fees (0.5% of financing amount), card transaction commissions, and foreign trade service fees.
3. Digital Banking Services: Revenue from digital banking services including investment account management, securities trading, and other online banking services.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels4 records

Core offering

Vakıf Katılım is a Turkish participation (Islamic) bank that provides Sharia-compliant, interest-free banking services to individuals and businesses. Its product suite includes profit-sharing participation accounts, consumer/housing/vehicle financing, credit and debit cards, POS and merchant services, foreign trade financing, capital market and investment products, insurance and pension offerings, and a digital banking platform spanning a mobile app, internet banking, video-call onboarding, and a 24/7 call center.

Product overview

Vakıf Katılım is an Islamic participation bank offering a comprehensive suite of digital and traditional banking services. The product portfolio centers on the Vakıf Katılım Mobil Şube (mobile banking app) and İnternet Şube (internet banking) as primary digital channels, complemented by the Müşteri İletişim Merkezi (24/7 call center). Core banking products include Katılma Hesapları (participation/profit-sharing accounts) in multiple currencies, various financing solutions (consumer, housing, vehicle, workplace, land), VKart credit/debit cards, and investment products. The bank serves both retail and commercial segments through specialized offerings such as POS products, foreign trade services, supply chain financing (Tedarikçi Finansman Sistemi), and sectoral packages for SMEs and agriculture. Value-added services include VClub loyalty program, FAST instant payments, p@ket e-transformation solutions, and partnership offerings like tabii Premium streaming membership.

Differentiator

Problem solved

Functional benefit

Brands

• VClub: Loyalty program offering discounts and benefits across restaurants, shopping, travel, and entertainment
• VKart
• Vakıf Katılım Mobil Şube
• FAST
• p@ket

Products and services

• Vakıf Katılım Mobil Şube (Mobile Branch) Mobile banking app for Android, iOS, and Huawei devices enabling customers to perform banking transactions, open accounts via video call, and manage services remotely.
• İnternet Şube (Internet Branch) Online banking platform accessed via web browser that provides personal and corporate customers account management, money transfers, and financial services.
• Müşteri İletişim Merkezi (Customer Communication Center) 24/7 telephone banking service available at 444 44 77 for customer inquiries and transaction support.
• Uzaktan Müşteri Edinimi (Remote Customer Acquisition) Video call-based onboarding system that enables remote account opening using NFC-enabled devices for identity verification and biometric facial recognition.
• Katılma Hesapları (Participation Accounts) Profit-sharing deposit accounts available in TL, USD, EUR, and Gold with daily, monthly, 3-month, 6-month, and annual maturity options.
• Günlük Hesap (Daily Account) Demand participation account that allows withdrawals without breaking the deposit term while continuing to accrue profit-sharing earnings.
• İhtiyaç Finansmanı (Consumer Financing) Personal financing solutions of up to 100% of invoice value within legal limits, with terms up to 36 months.
• Konut Finansmanı (Housing Finance) Home financing for new and existing properties, with financing amounts varying by energy class and terms up to 120 months.
• Taşıt Finansmanı (Vehicle Financing) Vehicle financing for new (0 km) and used cars, with new vehicles up to 70% of invoice value for cars priced 400,000 TL or below, and terms up to 48 months.
• VKart (Credit/Debit Cards) Credit and debit card products including VKart for personal use and VKart Business for commercial expense management.
• Vakıf Katılım Taksit Sistemi (KTS) Installment payment system that enables flexible payment plans for purchases.
• VClub Customer loyalty program offering discounts across restaurants, travel, shopping, fashion, grocery, and entertainment, accessible through the mobile app.
• FAST (Instant Fund Transfer) Instant and continuous fund transfer service provided free of charge for money transfers between banks in Turkey.
• POS Ürünleri (POS Products) Point-of-sale terminal products including cash register POS, fixed ADSL POS, mobile GPRS POS, virtual POS, installment virtual POS, mail order, and MobildePOS.
• Tedarikçi Finansman Sistemi (Supplier Finance System) Supply chain financing system enabling suppliers to collect invoice receivables as cash before maturity.
• p@ket (e-Transformation Package) Digital transformation platform providing e-invoice, e-archive, and e-despatch solutions for business compliance and efficiency.
• Dış Ticaret (Foreign Trade) International trade services including foreign trade financing, foreign trade packages, and various payment methods for importers and exporters.
• Sermaye Piyasası Ürünleri (Capital Market Products) Investment products including capital market instruments and treasury products for wealth management.
• Sigorta ve Emeklilik (Insurance and Pension) Insurance and pension products offered in partnership with insurance companies for risk protection and retirement planning.
• Sektörel Paketler (Sectoral Packages)

Quantifiable outcome

• 591.4 billion TL economic support provided to the economy
• +2 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core and minor.

• tabiicoreGTM or Marketing Partner · 8 May 2026Strategic partnership offering 1-month tabii Premium membership to new customers acquired through Vakıf Katılım's digital channels using the 'TABİİ' invitation code. Campaign valid from May 8, 2026 to November 30, 2026. First 1,000 customers eligible for the premium streaming service featuring original series, sports broadcasts (UEFA Leagues, FA Cup), and TRT archive content.
• VialandminorGTM or Marketing Partner · 8 January 2026Vialand theme park discount partnership offering 25% discount on daily entry tickets to Vakıf Katılım customers. Campaign valid January 8, 2026 to June 30, 2026. Customers access discount codes through Mobile Branch 'Campaigns' section.
• Vakıf Katılım VClub Partners (Espressolab, Lizay, Taze Çiçek, Muhiku)coreGTM or Marketing PartnerVClub is Vakıf Katılım's loyalty program offering exclusive discounts across restaurants, fashion, grocery, dry cleaning, travel, transportation, concerts and events. Partner merchants include Espressolab (2 free coffees for new customers), Lizay (%50 discount on diamond jewelry), Taze Çiçek (%15 discount), and Muhiku (%20 discount on purchases over 1,000 TL).

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Ziraat Katılım Bankası: State-owned participation bank subsidiary of Ziraat, with the strongest funding base in the segment. Competes directly on retail deposits, public-sector financing, and SME packages.
• Türkiye Finans Katılım Bankası: A large established Turkish participation bank (jointly owned by Saudi National Bank and Boydak) with a comparable retail, SME, and corporate participation product set. Directly competes for the same profit-sharing deposit and Islamic financing customers.
• Emlak Katılım Bankası: State-owned participation bank launched in 2019 with a focus on real estate and construction finance. Competes for the same housing finance (Konut Finansmanı) and commercial financing mandates.
• Kuveyt Türk Katılım Bankası: Turkey's largest and longest-established participation bank, offering the same Sharia-compliant deposit, financing, and card products. It is the most direct head-to-head competitor for retail, SME, and corporate participation banking wallet share.
• Albaraka Türk Katılım Bankası: One of Turkey's pioneer participation banks, with an established Gulf-backed ownership base. Overlaps with Vakıf Katılım across retail participation accounts, card products, and SME financing.

Regional players

• Kuwait Finance House: One of the oldest and largest Islamic banks globally, and the parent of Türkiye Finans. Comparable in operating a multi-country Sharia-compliant franchise with similar financing and deposit products.
• Bank Islam Malaysia Berhad: Malaysia's flagship Islamic bank, offering Sharia-compliant retail financing, deposits, and investment products. Comparable as a large-scale participation banking franchise outside Turkey.
• Dubai Islamic Bank: Largest Islamic bank in the UAE, with a similar full-spectrum retail, corporate, and treasury participation banking model. Useful global benchmark for product breadth and profit-sharing economics, though geographically separate.
• Abu Dhabi Islamic Bank: Major UAE participation bank with retail, SME, and corporate offerings analogous to Vakıf Katılım's stack. Provides a useful peer for digital participation banking benchmarks in the Gulf.

Broad incumbents

• Al Rajhi Bank: The world's largest Islamic bank by assets, with a dominant retail and SME participation franchise. Useful as a 'broader incumbent' benchmark for scale, digital participation banking, and Shariah product breadth.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/vakifkatilim

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Vakif Katilim