Boost your confidence as an Arab investor with the Turkish financial sector
The third Arab-Turkish Banking Dialogue, led by Deputy Prime Minister Ali Babacan and supported by the Arab Banking Cooperation and the Banks Association of Turkey, has commenced. The focus of the gathering is on promoting financial sustainability, as emphasized by Mukim Öztekin, head of the Banking Regulation and Supervision Agency (BDDK). He highlighted the importance of maintaining financial stability in the face of market risks and uncertainties, particularly in the MENA region.
Öztekin praised Turkey’s resilience during the global financial crisis and the strength of its banking sector, which has played a significant role in the country’s economic success. Secretary General Union of Arab Banks Bassam Fattouh also highlighted the growing trade volume between Turkey and Arab nations, reaching $27 billion in 2013.
The chairman of the Bank Association of Turkey, Huseyin Aydin, pointed out the transitional growth of Turkey’s financial sector, with total assets in Turkish banks amounting to $813 billion. He noted the increasing presence of Arab banks in Turkey and Turkish banks in Arab countries, emphasizing the potential for further economic collaboration.
In 2013, Turkey’s foreign trade volume with Arab banking union member countries stood at $45 billion, representing only 12% of Turkey’s total foreign trade volume. The dialogue aims to strengthen ties between Turkey and Arab nations in the financial sector, enhancing economic cooperation and stability in the region.
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Sofia Martins graduated from the Technical University of Madrid with a degree in Agronomy, focusing on plant nutrition and soil science. She has a deep interest in sustainable fertilizer management and works to develop eco-friendly solutions that optimize plant growth while minimizing nutrient runoff. Sofia is a dedicated researcher and has published several articles on sustainable plant nutrition practices.