7th Istanbul Finance Summit Ends

7th Istanbul Finance Summit Ends The 7th Istanbul Finance Summit was held on 6 to 7 September, at Conrad Hotel Istanbul. Top executives, bureaucrats and academicians, who are directing and guiding the world economy, attended to twelve sessions organized around this year’s main theme, "Geopolitical Risks and Finance". Speakers shared their opinions on the world issues such as "financing urbanization and new cities", "cross-border capital flows under geopolitical risks" and "new approaches in financing technology and R&D".

Turkish Minister of Finance Naci Ağbal and Governor Vasip Şahin were among the speakers of the opening session, on the first day of the summit. Naci Ağbal talked about Turkey’s finance policies: "Turkey has goals for 2023. One of these goals is to make Istanbul a finance center. We are running programs to reach that. Solid public finance and banking system have become the shield of Turkey. Borsa Istanbul has been restructured with a novel approach. Legal regulations will be made particularly on the interest-free finance. Also, we are taking one step at a time in order for the participation banking to grow in Turkey."

Govenor Vasip Şahin, on the other hand, touched upon security issues in his talk: "The fact that global terror is now threatening the whole world, makes Istanbul as open to attacks as any metropolis in the world. We, as the people governing the city, are taking all the necessary precautions. It is possible to say that, compared to other metropolises, Istanbul is safer in terms of public order. Istanbul hosts 20 million people everyday including the visiting the population. This requires additional precautions on the matters of security and traffic, and we are taking them."

Governor Şahin also drew attention to the central position of Istanbul: "Istanbul is one of the finance centers of the region. It sits on the crossroads. We are inviting all the investors to Istanbul, which was one of the fastest recovering cities from the 2008 crisis, with its dynamic population and investors. The attraction of Istanbul will grow even more after the opening of the third airport. As the governorship, we will be supporting all sorts of investments."