Daily Sabah logo

Politics
Diplomacy Legislation War On Terror EU Affairs Elections News Analysis
TÜRKİYE
Istanbul Education Investigations Minorities Expat Corner Diaspora
World
Mid-East Europe Americas Asia Pacific Africa Syrian Crisis Islamophobia
Business
Automotive Economy Energy Finance Tourism Tech Defense Transportation News Analysis
Lifestyle
Health Environment Travel Food Fashion Science Religion History Feature Expat Corner
Arts
Cinema Music Events Portrait Reviews Performing Arts
Sports
Football Basketball Motorsports Tennis
Opinion
Columns Op-Ed Reader's Corner Editorial
PHOTO GALLERY
JOBS ABOUT US RSS PRIVACY CONTACT US
© Turkuvaz Haberleşme ve Yayıncılık 2025

Daily Sabah - Latest & Breaking News from Turkey | Istanbul

  • Politics
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • Elections
    • News Analysis
  • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Expat Corner
    • Diaspora
  • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • Islamophobia
  • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
  • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
  • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Reviews
    • Performing Arts
  • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
  • Gallery
  • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
  • TV

Finance office holds extensive talks with investors in Malaysia, Singapore

by Daily Sabah

ISTANBUL Nov 26, 2019 - 1:15 am GMT+3
Investors and financial institutions in both Malaysia and Singapore were briefed on the Istanbul Finance Center, currently being developed in Istanbul's Ata?ehir district and expected to be completed by 2022.
Investors and financial institutions in both Malaysia and Singapore were briefed on the Istanbul Finance Center, currently being developed in Istanbul's Ata?ehir district and expected to be completed by 2022.
by Daily Sabah Nov 26, 2019 1:15 am

Turkey’s Presidential Finance Office has initiated contact with global players in Malaysia, regarded as the center of Islamic finance, and digital financial center Singapore to attract international funds to Turkey.

Representatives from the finance office met with leading economic and financial institutions in Singapore and Malaysia last week to raise international interest in Turkey as part of the new strategy and create contacts for the Istanbul Financial Center (IFC) project, reports in Turkish media said yesterday.

Göksel Aşan, head of the finance office, held talks with the Securities Commission in Malaysia, one of the most important actors in Islamic finance; Malaysia’s central bank, Bank Negara Malaysia; Permodalan Nasional Berhad Bank (PNB); Maybank Islamic Public Limited Company; Malaysia’s stock exchange Bursa Malaysia; CIMB Islamic Bank; Khazanah Nasional; International Islamic Liquidity Management Corporation; Saturna Capital Corporation; and Investment Account Platform.

During the talks, opportunities for financial cooperation between Turkey and Malaysia, representatives to be opened mutually, investment potential, drawing savings and capital in Islamic finance to Turkey, the participation of Malaysian investors in the IFC project and joint initiatives in third countries were discussed. It was also emphasized that Malaysia could be an important partner for the IFC, while the investment incentives in Turkey were explained in detail.

The IFC project, which started in 2009, is currently being developed in Istanbul's Ataşehir district and has been designed to be one of the world's major financial centers. This landmark government project aims to build a larger financial center than existing ones in New York, London and Dubai and make Istanbul a center of international finance.

The IFC project is expected to be completed at the end of 2021 or at the beginning of 2022.

When completed, the project will employ around 30,000 people. Constructed on an area of some 2.5 million square meters, the IFC will have 560,000 square meters of office space, 90,000 square meters of shopping space, 70,000 square meters of hotel, 60,000 square meters of residential space and a culture and congress center with a capacity to seat 2,000.

On the sidelines of the Singapore visit, finance office officials met with Singapore's central bank, the Monetary Authority of Singapore, Singapore's sovereign wealth fund GIC Private Limited, the Economic Development Board (EDB), Singapore Exchange Ltd. (SGX), and the Institute of Banking and Finance (IBF).

During the meetings, Singaporean investors were informed about the cooperation opportunities in the IFC and the investment potential in Turkey.

Singapore investors with a billion-dollar capital were briefed on topics such as the IFC's potential as a regional hub, Turkey’s dynamic business environment, the banking system/participation banking, and economic opportunities.

Meanwhile, the office recently initiated economic diplomacy in the Far East and Gulf countries, particularly in Beijing, Shanghai and Hong Kong, to discuss and explain opportunities Turkey, and particularly Istanbul, offer to foreign investors.
Istanbul climbed six places and ranked 53th in the Global Financial Centers Index (GFCI), published by London-based Z/Yen Partners in collaboration with the China Development Institute in September.
The index provides evaluations of future competitiveness and rankings for 104 major financial centers around the world.

  • shortlink copied
  • Last Update: Dec 20, 2019 1:55 am
    KEYWORDS
    business
    The Daily Sabah Newsletter
    Keep up to date with what’s happening in Turkey, it’s region and the world.
    You can unsubscribe at any time. By signing up you are agreeing to our Terms of Use and Privacy Policy. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
    No Image
    Firey spring festival back in full swing after pandemic: Nevruz
    PHOTOGALLERY
    • POLITICS
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • News Analysis
    • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Diaspora
    • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • İslamophobia
    • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
    • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
    • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Performing Arts
    • Reviews
    • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
    • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
    • Photo gallery
    • DS TV
    • Jobs
    • privacy
    • about us
    • contact us
    • RSS
    © Turkuvaz Haberleşme ve Yayıncılık 2021