Istanbul Financial Center to support Turkey's ambition to become a top 10 global economy
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Thursday, October 7, 2021
ISTANBUL, Oct. 7, 2021 /PRNewswire/ -- Research commissioned by Türkiye Wealth Fund forecasts that the annual value of Turkey's financial services exports is to increase from US$2 billion to US$16 billion by 2036, with Turkey's financial services exports expected to rise to 1.3% of GDP, up from 0.3% in 2019. The iFC, a new financial center in Istanbul, will be pivotal in helping to drive this growth with its complete financial services ecosystem, delivering growth to both the Turkish economy and international investors by promoting increased regional and global capital flows.
Key Points:
- TheiFC, a new financial center in Istanbul,willbepivotal in helping to drive this growthwith its completefinancial services ecosystem, deliveringgrowth to both the Turkish economy and international investors by promoting increased regional and global capital flows.
- The iFC will benefit from Turkey's unique geographic location at the nexus of global markets, access to a large domestic economy, modern infrastructure, state of the art facilities and forward looking, supportive legislation and incentives.
- Arda Ermut, CEO of the Trkiye Wealth Fund, said: "The opening of the Istanbul Financial Center is an important milestone both for Turkey's growing and dynamic economy, and wider regions.
- Located in Istanbul, already a global hub, the iFC will further facilitate and support capital flows at a global level.