Can Istanbul be a financial center? – DW – 30.04.2022
The Istanbul Financial Center Project, which the AKP launched for the first time in 2007, is the first preparatory preparations for June. The work of all the founders of the financial institution in Ankara will begin to move to Istanbul Ataşehir Finance Center. With the center expected to start operating, approximately 100 thousand people will be transferred to Istanbul.
While the government is after Istanbul Finance’s Turkey Headquarters in 10 years, 250 billion dollars in revenue. However, it is not possible to have a global financial system. City planners, on the other hand, state that those who will just start with the Istanbul Finance Center will aggravate the problems in Istanbul.
Migration from Ankara started
Istanbul Finance Center (IFC), which has been under construction for about 10 years in Istanbul Ataşehir, is expected to open its doors in June 2022. This great capital is moving from Ankara to Istanbul, which cultivates and operates the financial market in Ankara.
The offices of the Central Bank of the Republic of Turkey (TCMB), the Banking Regulation and Supervision Agency (BDDK), the Capital Markets Board (SPK), Borsa Istanbul, Ziraat Bank, Halkbank, Vakıfbank, Turkey Insurance and İŞ REIT will attend the IFC. The center will also be a living space with 1.4 million square meters of office space, a 100 thousand square meters shopping center, a 30 thousand square meter 5-star hotel, a conference center for 2100 people and a parking lot with a capacity of 26 thousand vehicles. The center will host 75 thousand employees and viewers daily.
So, will Istanbul be able to achieve its goal of becoming a global financial center with this realization?
“The biggest problem is the legal system”
Working in DW Turkish, Istanbul Technical University (ITU) Business Management Department Lecturer Prof. Dr. The biggest obstacle in front of the financial center.
Prof. Günçavdı, who has a reputation in New York and states that the basic system such as the foundation in London provides universal legal services, says, “Prof. Günçavdı, as in universal human rights, as in general human rights. But after 10 years, we are now learning.”
When looking at the general perception of the world such as democracy, human rights and freedoms in Turkey at the moment, Günçavdı pointed out, “You look like this comprehensively, this kind of financial center is, from this point of view, such a financial center, center in such a regime. this is how it looks,” he says, “it will become a center where unregistered money comes and launders, to say the least.”
“Unpredictable in Turkey”
It takes place in the importance of Istanbul in schools in many schools providing global service.
Chief Strategist Dr Atahan Çelebi, who presents STR in global stock markets, commodities and prices, evaluated to DW Turkish, “Legal infrastructure as financial regulations, in the same plan as a general purpose. Turkey’s latest constitution comparison is generally the scorecard. not very good, not internationally acceptable.
If Çelebi, who draws the basic design of the feature of global finance education to international law, this comparison is to set a ‘predictable’ example. Çelebi states the following bag:
“There is a need for a prescribed law. There may be changes that can be implemented in a redesigned way.
“Housing prices may increase even more”
Working for Istanbul Finance Center will move from Ankara to Istanbul. With their families on account, about 100 thousand people are expected to be told. Some outlooks for the Central and Ziraat Bank do not appear in the end of March view. According to Öner Günçavdı, this influx of immigration due to the Istanbul Financial Center may further increase the housing and rent prices in the megacity.
Today, Günçav, who manages the purchasing and leasing processes for the basic items in the construction market in Istanbul, will be and will be such a project. Buying a house becomes impossible for locals,” he said.
“Traffic problem will get worse”
Another concern for the Financial Center project is that expanding the project could create a new threat to the city due to traffic and earthquake accidents. Continuing DW English, Chamber of City Planners Istanbul Branch President Assoc. Dr. Pelin Pınar Giritlioğlu expresses your day about the fact that Istanbul carries a population far above its education capacity, with these additional vehicles. Under these circumstances, Giritlioğlu emphasized that IFC should further aggravate Istanbul’s restriction, and speaks:
“The dose of the current load for Istanbul is already insufficient. It can’t handle the load anymore. It can’t handle any more. 99 percent of it in the Istanbul exam, whatever you say, is traffic. Now, a district with a population of 100 thousand inside Ataşehir, which is finished, cannot handle it any longer. take it back with this new district. Now Istanbul can handle this pillage more, these educational pressures are not in a position to show these mega-trainings.”
First announced in 2007
The AKP government announced in 2007 that the public banks and finance sector in Ankara would be moved to Istanbul. The opening date, first announced as 2016, was delayed to 2018, then to 2020, and then to 2022. Turkey Wealth Fund was acquired in September, which is in the project worth 1.6 billion TL in 2021. In October, it has been noted that it is aimed to be one of the 10 projects to be carried out by IFC in 10 years and to earn 250 billion dollars.
“We will establish Islamic Arbitration”
President of the Presidential Finance Office Prof. Dr. Göksel Aşan, too, at the end of 2021 Anadolu AgencyHe stated a project for the IFC, an important place in the IFC, which will pass 2022. Expressing that an “Arbitration Center” will be established within the IFC, Aşan said, “We are establishing the IFC Arbitration Center. We will then form the “Islamic Arbitration” for the first time.