“Istanbul Financial Center is stuck in January”
President of the Presidential Finance Office Prof.
Aşan made a statement regarding the move to the Istanbul Finance Center (IFC), saying, “The buildings are finished.
Noting that especially public banks are in a position to be moved even now, Aşan said, “The buildings are finished.
Stating that it is a large project with a very large area, which is covered by environmental regulations, Aşan said, “You feel very proud when you enter. We think that when it opens, it will become active quickly and will catch a serious occupancy.” he said.
Emphasizing that Istanbul is a financial center and the apple of the eye, Aşan said that IFC will make this more effective and add a little more value.
Talking about the importance of keeping the regulatory houses together, Aşan noted that creating such an area and making a legal regulation with this area will enable the spread of financial products and uses that were not in Istanbul before.
“Our goal is to increase the payment of participation finance in the sector to 15 percent”
Göksel Aşan made evaluations about the forms of structuring about entrepreneurship finance and expressed these:
“The Participation Finance Strategy Document made a lot of noise. We also receive a lot of positive comments. Obviously, some people in the country expected this and I think it meets a need. Its laws are clearer and more understandable than the articles included, the content of banking is a sector that does not see behavior. One message per se. One of the most critical issues for us is to increase the credibility of the society in this sector. The first customers of this sector are conservative people with interest expenses. We need to somehow increase the trust of the need. We think that it is an institutional structure. There is a study in that direction, which is critical. On the other hand, we attach great importance to the coming together of the consultancy financial institution and creating their own associations. We think that participation finance companies can grow with a structure that they find together.”
Aşan, who also shared his opinion on the comments on “the future of participation banking of all banking next year”, said, “It is clear that we will go, we will increase our share in the sector to 15 percent. Achieving this by Allah by 2025. Let’s say our banking system, financial system and savers prefer it. and our share became 51 percent… What’s wrong with that? Where is there any harm in it? What a beautiful area to enlarge if we can do it… Why should we be criticized for not having a 15 percent share until the past?” said.
“Investor demand for public offerings is quite strong”
Borsa İstanbul AŞ General Manager Korkmaz Ergun said that they are trying to prepare an environment where they gain more resources and authority from the capital markets than their businesses.
Pointing out that only 100 of the big industrial enterprises are traded in the stock market, Ergun visited the important cities of these departments and stated that many groups wanted to talk about Borsa Istanbul as a serious alternative for them.
Pointing out that they made 33 public offerings in 2021 and 47 this year, Ergun said, “Our Halloween target is for this number to continue to increase next year. Investor demand for public offerings is quite strong.”
Emphasizing that he will be with the operations in the public offering operation, Ergun said:
“Providing services to large industrial companies means ‘we aspire to clear the road on the way to the stock market’, while SMEs are a venture capital market where our start-up companies can be traded, our small-scale companies that have public offering treasury in the future but are not ready yet. Working together with the CMB on the creation of a new communiqué. The draft of the Communiqué in this area has been opened to view. It continues to exist as two institutions. Our companies under the management of Start-up and SMEs are able to realize their investments and growth only through capital increase, with the resources entering the company, and only through placement and institutional settlement. They will be able to start trading on our stock market with the provision of funds. Thus, our companies will both grow while making their investments and become ready for public offering by institutionalizing. We hope to open this market as soon as possible with the support of the CMB.”
“Substantial technology investment in the future”
Korkmaz Ergun emphasized that the first purpose of foreign promotions is not to export their technology, but to take the traveling investors to the country and to have the big companies there operate on the stock market.
Explaining that they also developed their commercial relations and established a fund after exporting technology to the Abu Dhabi stock market, Ergun said that they paved the way for the points there to reach Borsa Istanbul directly.
Ergun, giving the information that Turkmenistan stock market is asking for help in technology, said that their goal here is to reveal the public offering of the large natural gas business in Turkmenistan, and it has become a good alternative compared to other stock markets.
Explaining that Sudan also came with a request to establish a gold exchange, Ergun said, “Maybe we can contribute to the reserves of these devices by keeping the gold of Sudan, the international storage center that we established as a corridor warehouse.” said.
Mentioning that they will make technology investments in the serious periods of the future, Ergun said, “We are seriously within the capacity of the managers of our stock exchange. While we received 3.7 billion orders in 2017, we encountered a capacity of nearly 12 billion orders this year.”
Investor testing is centralized
CMB Chairman İbrahim Ömer Gönül also said that capital markets are not only supply-side, but also demand-side very serious.
Gönül, whose investor approaches drew attention to nearly 3.5 million times this year, stated that they had avoided the seizure of the demands regarding the company’s capital markets and the processes of looking at the capital markets with fear.
Gönül stated that she will be in close contact with pregnant women from now on, “We are trying to explain the public offering and capital markets to them. We will explain the possibility of accessing easier and sustainable financing with information.” said.
Gönül, who mentioned that it would not be correct to give numbers for the public offerings of 2023, but the applications have a strong awareness, stated that the really impressive industrial and real outputs they have seen in the current applications are a very serious favor from them.
Gönül stated that social media regulations continued with the application of the domestic investor to the stock market, and noted that some accounts on social media were targeted.
The famous pointing out that trying to shape the prices in closed groups according to their own interests after the posts on social media, Gönül said that their job is to struggle.
Gönül stated that they are striving for the growth of financial literacy along with the necessary legal values, and drew attention to the use of social media as a large account and to prevent all of them.
Noting that improving the financial literacy of young people and housewives is a separate goal, Gönül said, “The most important thing we want to do in our next roadmap is to bring financial literacy under a single roof. under to organize.”
Mentioning the importance he attaches to the investor, Gönül said, “There are certain ways to do this as well. Since some accounts are manipulating this business in social environments,” he said.
CMB Chairman Gönül noted that they continued to exchange ideas with the dissemination for certification and the method of ensuring the validity of these certificates, and stated that they started to act in a very short time during this period.
Director Gönül pointed out that they were working with three ministries for certification and that they were working on the protocol, and said that they saw certification after non-formal training through a company.
Reminding that those who come to the stock market must pass a certain test, Gönül said, “We are centralizing this test in a short time. In this way, individuals can find share buyers after a more serious test.” said
20 percent market share target in non-banking finance
Financial Institutions Union (FKB) Chairman Ali Emre Ballı also stated that the transaction volume of the non-bank finance sector reached 82 percent in 2022 and said that they will come with all their strength to grow next year.
Ballı, who stated that the non-banking finance sector is currently 14 percent, noted that they are targeting their market share when they reach 20 percent next year.
Ballı stated that they foresee that they can support the real sector more by sharing the risks funded by banks with the non-bank finance sector and transferring the support from this to the real sector.