Albaraka Türk Katilim Bankasi : No More Cash Carrying in Real Estate Purchase and Sale Transactions!
December 31, 2021 at 09:27 am EST
Share
PRESS RELEASE
DECEMBER 28, 2021
Albaraka Türk provides great convenience in real estate purchase and sale
transactions with its "Deed Trusted Account" application.
No More Cash Carrying in Real Estate
Purchase and Sale Transactions!
Albaraka Türk launched the "Deed Trusted Account" application to its customers in cooperation with the General Directorate of Land Registry and Cadastre.
With this application, there is no need to carry cash in real estate purchases and sales and possible fraud attempts are prevented.
Continuing its activities with the vision of being the best participation bank in the world, Albaraka Türk facilitates the lives of its customers by ensuring that real estate purchases and sales transactions are carried out quickly and safely with the "Deed Trusted Account" application.
This system prevents the risk of fraud and eliminates the trust issue between the purchaser and the vendor by enabling the deed and the cash, which is the sale price, to be exchanged simultaneously.
How does the system work?
The information entered by the purchaser and the vendor is matched by querying through the Land Registry system, and the real estate value is transferred to the trusted account. The title deed and the sale price change hands simultaneously with the completion of the transfer process at the land registry office; while the title deed is transferred to the purchaser, the cash, which is the cost, is transferred to the vendor's account. The entire process can be monitored through Albaraka Türk Internet Branch.
"We make life easier for our customers by eliminating the risk of carrying cash."
Yasemin Aydın, Albaraka Türk's Digital Channels Director, stated that they are working hard to provide innovative solutions to their customers in the digital field, and stated that the "Deed Trusted Account" application can be used for title deeds all over Turkey. She said, "This system eliminates the risk of carrying cash and the trust issues between the ones enabling real estate purchases and sales to be realized quickly, easily and safely." Stating that those who are not Albaraka Türk customers can also become customers and perform their transactions in minutes with video calls without the need to go to the branch, Aydın emphasized that this system is also an important step in the digitalization of payments, and that they will continue to offer different solutions in line with customer needs and expectations.
Albaraka Türk Katilim Bankasi AS published this content on 30 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 December 2021 14:26:02 UTC.
Albaraka Turk Katilim Bankasi AS (Albaraka Turk) is a Turkey-based financial institution engaged in interest-free financial services. The Company provides a range of banking and financial services include Retail banking, which offers personal financing, credit cards, bank cards and other banking services, and Commercial/Corporate banking, which includes credits, cash management, foreign trade, business card and insurance services, as well as current and participation accounts. The Bank operates through a network of 122 domestic branches. In addition, the Bank operates as an insurance agency on behalf of Isik Sigorta, Anadolu Sigorta, Gunes Sigorta, Allianz, Aviva Sigorta, Neova Sigorta, Zurich Sigorta, Ankara Sigorta, Avivasa Emeklilik ve Hayat and Generali Sigorta. Albaraka Turk is a part of Albaraka Banking Group of Saudi Arabia.
ALBARAKA TÜRK KATILIM BANKASI 
