Hi Kwiatec,
I am not an expert on this subject, but I know that many bichaqs of this type were produced in various places in/for the Ottoman Empire. In fact, many of this construction - short "ears", all silver and floral design bichaqs and yatagans are sold as Greek, though Balkan, Bosnian etc. are also added to the description, to be on the safe side.
Moreover, this style of bichaqs were made in Europe for the Ottoman market (Italy and France, see
http://www.vikingsword.com/vb/showthread.php?t=25013). I don't think yours is one, because the blade is an older wootz blade that has been re-mounted, but it makes sense that the koftgiri has been added during the mounting and that it has been written by someone who did not actually know Arabic. Some letters can definitely be identified as Arab letters, but others are not - so the whole does not make sense (not that I could read it if it did). So, my guess is that it is mounted in the 19th c. in Greece of other Balkan country for use by Ottoman soldiers or officials. I also posted a similar inscription from a what is described as Greek yatagan.