IFN Turkey Forum – 10th September 2018

The IFN Forum Turkey, held in Istanbul on 10th September, focused on key issues relevant to the country’s 2023 Vision, the economic development of the Republic of Turkey and the growth of participation banking. Panellists discussed the Turkish financial markets, focusing on geopolitical and financial risks as well as regulation, growth and evolution of the participation banking sector, competition and consolidation within the industry and the role of foreign investors.

Innovation in the Turkish capital markets and the role of Shariah compliant products were additional topics covered.  Speakers discussed the recent regulatory developments for Sukuk and the latest situation regarding corporate Sukuk and Tier 1 financial institution issuance, particularly in the context of the current challenges facing the Turkish Lira (there was a general expectation of a significant increase in benchmark rates, an increase which was announced by the central bank later that week, on 13th September).

Leilya Shamel, Associate Director of DDCAP, spoke in the final session, which focused on fintech development in Islamic Finance. Main discussions  centred around the role of fintech, digital platforms and tokenization in today’s financial industry in Turkey, as well as the development of smart contracts and blockchains.

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