Türk Ticaret Bankası (Turkish Commercial Bank) was the first private bank in the history of Islamic World. Majority of the founders of the bank had immigrated from the Balkan part of the Ottoman Empire. Thirteen businessmen,tradesmen founded the bank, March 1913 in Sakarya. Sakarya is a province which is in the Marmara Region of Turkey, situated between Ankara and Istanbul.
Faik Tunay’s great-grandfather – Hacı Adem İbrahim Beyzade who immigrated from Bosna Hercegovina to the Ottoman Empire, was the biggest shareholder and the first Chariman of the Board. During the seventies and eighties Türk Ticaret Bankası was the fifth biggest bank in Turkey.