2/6/2009

Turkey to be among the leading economies by 2023

Sabah – The roadmap to be followed by the government with respect to Istanbul Finance Project has been shared with the business world as well as the representatives of trade organizations. Nazim Ekren, Deputy Prime Minister, stated they expected to release the final strategic document on the project in August. Ekren said, “Our target is to become a regional financial center within 10 years and a global financial center in 30 years”. On the other hand, Ersin Ozince, Chairman of The Banks Associations of Turkey, said the Turkish banking system has an equity capital of USD 58 billion and added, “The vision of the Republic of Turkey regarding 2013 and 2023 cannot be achieved with the current banking equity capital of USD 58 billion. If Turkey is to rank among the top 10 economies of the world in 2023, a bank capital worth a total of at least USD 300 to 500 billion will be required. In order to achieve such a bank capital, appropriate markets for this should be created”.