Norton Rose Fulbright has advised Albaraka Turk Katilim Bankasi A.S. in connection with a consent solicitation made to the holders of the outstanding US$200,000,000 Tier 2 Trust Certificates due 2023 (the "Certificates").

The purpose of the consent solicitation was to seek the approval of certificate holders to modify the terms and conditions of the Certificates following the introduction of certain amendments to the Turkish Equity Regulation which resulted in the Certificates losing their eligibility for inclusion within ABT's Tier 2 capital calculation. At the meeting of the holders of the Certificates held on 01 February 2017, the proposed amendments to the Certificates were approved.

Gregory Man, partner, Norton Rose Fulbright, commented:

"We were pleased to be able to assist Albaraka Turk in ensuring that their outstanding certificates can once again be included in the bank's regulatory capital calculations in order to strengthen the capital position of the bank, for whom the outcome of the consent solicitation represents a great result".

The Norton Rose Fulbright team was led by partner Gregory Man (Dubai) with assistance from associate Tom Burke (Dubai).