DDCAP was an Executive Partner and Sponsor at the IFN Forum Turkey, which was held at the Crowne Plaza Istanbul Oryapar on 14th September 2017.
Turkey’s participation banking, finance and investment sectors have faced their challenges over the years. However, with invigorated governmental and regulatory support, including the growth of participation banking as part of key national transformation goals, Vision 2023, and a renewed appetite for Sukuk among issuers and investors, the sector could be set for a period of significant growth and innovation. With notable developments in the investment and portfolio management industries, including a potentially significant issuer and investor in the shape of the Turkiye Wealth Fund, opportunities for participation banking and investment in the Republic look exciting.
The Forum was opened with an engaging and informative onstage exchange between Mohammed Elkuwaiz, Vice Chairman of the Capital Market Authority (CMA) of Saudi Arabia and Jawad Ali, Managing Partner, Middle East, King & Spalding, relating inter alia to the Qualified Foreign Financial Institutions Investment in Listed Shares (QFI) Rules and how the initiative has impacted Saudi Arabia’s Islamic asset management landscape.
DDCAP Associate Director, Business Development Leilya Shamel was a panellist at the session on “Preparing for the future: Financial Technology in Turkey”. Panelists included Barbaros Ozbugutu, Founder and CEO, Iyzico, Cigdem Ayozger, Founder SRP Legal and Didem Altop, Managing Director Endeavor Turkey. The session was aimed at discussing the impact of Fintech on the banking industry in Turkey. She commented that “the beauty of Fintech to the business operational environment is the provision of trade efficiency to the transactional process of which DDCAP has been at the fore front through its Ethos Asset Facilitation Platform to facilitate efficiency whist adhering to Sharia compliance.