Qatar Islamic Bank, the biggest Islamic lender in Qatar, has stopped negotiations to a acquire a strategic stake in Bank Asya, the largest participation (Islamic) bank in Turkey, the lender said in a press release.

“Turkey remains a target market for QIB and its international expansion strategy,” the bank stated.

Meanwhile, the Turkish lender said on Friday in a statement to the Istanbul stock exchange that the “exclusivity deal with QIB, under which Bank Asya could not pursue an offer from another potential buyer, was terminated as of August 8 so it could receive formal bids from Turkish investors.”