Maybe they are less likely to freeze an account because of their religious rules?
Yes. Look at their webpage 😉
If you think that an Islamic bank is crypto-friendly, have you overslept and for that you have to choose an Islamic bank of all places?
And in supported businesses, too - it seems (no personal experience)..
I have not chosen it for crypto related purposes, I am just asking to those who might have direct experience.
Interesting. Can you share what sort of data did they have for the decision? I mean, what you were asked in (as I presume) some application form ”“ just a personal data like residence, nationality etc. or someting more like purpose of opening an account, why you have choosen us, etc?
I just went through the online process. I couldn't do the identification because the service they use is closed down for holidays until Sunday. I gave them my basic personal data, all plain vanilla. Maybe they just don't accept clients who don't reside in Germany or who don't sound Muslim enough.
In fact they should better try to attract new clients bringing in valued foreign currency
Deposit insurance would trigger if the bank goes belly up. From a quick glance, KT Bank seems to be a bank licensed in Germany and not just a foreign branch. That means the bank has to comply with EU/German standards on financial stability, which should shield them (to some degree) from the parent failing.
Well, I read somewhere here on the orum that they accept EU, Turkey and ... (some Arabic country, I do not remember) residents and their webpage seemed to confirm it; but it could have changed.
🙂 It was the reason for my question whether they asked you about your motivation, business plan etc. But as they did not, it is probably not so. (There is a lot of Muslims with completely Western names, residency and nationality nowadays.)
I will worship any god required to please a bank, but that is not sufficient.
agree, can't have enough banking options.
