Turkey’s Finance Minister Naci Ağbal has relayed the details concerning the Istanbul Finance Center. Minister Ağbal, who stated that they had included new instruments, entitled the Asset Fund of Turkey, real estate certificates and Islamic finance into the system step by step in order to ensure the deepening of the financial markets in Turkey, said that these were important to encourage savings in the long term.
We will offer the same as other financial markets
Ağbal, stated that work on the Istanbul Finance Center was continuing, and said that the Ministry of finance was continuing to work on the relevant legislation. Minister Ağbal, who stated that the Istanbul Finance Center was being structured within a specific region, said that constructing buildings on its own was not enough to draw in investors, and that they would be undertaking work in this respect. Naci Ağbal added that, with ambitious forward thinking projects, the Istanbul Finance Center would be offering exactly the same opportunities as – if not more than – the other financial markets, which it will be in competition with, and that they would be working towards this.
Istanbul Finance Center targets
Ağbal said, “The principal aim of our draft legislation for the Istanbul Finance Center is to offer all of these advantages and opportunities to the actors here,” and stated that international financial institutions would come here and when they do, they would put forward certain conditions. Ağbal stated that work on the draft legislation concerning the Istanbul Finance Center was continuing, and that they would be presenting it to the Council of Ministers in the near future.