Turkish Commercial Bank

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Turkish Trade Bank was the first bank established by a Muslim private enterprise not only within the borders of the Ottoman Empire, but also in the Islamic world at that time.

It was founded in Sakarya in March 1913 by 13 businessmen and tradesmen, most of whom immigrated from Rumelia to the Ottoman Empire.

The bank's largest shareholder and first Chairman of the Board of Directors is Faik Tunay's great grandfather, Hacı Adem İbrahim Beyzade. It was Turkey's fifth largest bank for a while.

The bank was established with a capital of 13,629.63 Oman Lira by issuing 1000 shares worth 1472 kuruş by the founding partners who paid five kuruş per week and twenty-seven kuruş every three months.
 
The registered name of the bank is Hacı Adem Beyzade İbrahim, Sipahizade Hamit and Şürekası Adapazarı Islamic Trade Bank.
 
The establishment of the bank was a revolutionary initiative at a time when of the financial institutions were under the control of non-Muslims. The bank provided interest-free banking in six years, and was the first bank established by Muslims within the Ottoman Empire to provide interest-free banking. The bank, which took the name Adapazarı İslam Ticaret Bankası Türk Anonim Şirketi on May 15, 1924, was renamed Adapazarı Türk Ticaret Bankası A.Ş on March 29, 1928. In 1934, upon Atatürk's request, it moved its headquarters to Ankara and took the name Türk Ticaret Bankası. It was the bank that made many firsts in Turkey until its banking activities were terminated in 2001.
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