A prime official of the worldwide banking physique just lately expressed optimism concerning the outlook of the Turkish financial system, saying they’re intently monitoring the developments within the financial system, finance and banking sectors within the nation.
“There is a change happening in the Turkish economy. We expect a very good outlook for the Turkish economy soon. As bankers, we want to be a part of this,” Hedwige Nuyens, managing director of the International Banking Federation (IBfed), stated throughout an interview with Anadolu Agency (AA).
Pointing out that the banking sector is likely one of the key stakeholders in each financial system, Nuyens stated: “All Turkish banks are working very closely with the central bank and political authorities to ensure that Turkish society can face the inflation rates and rising prices. We are seeing some successes. It is moving toward greater confidence that there will be stability in the economy.”
She famous that Türkiye is a formidable nation that has managed to draw each very sturdy worldwide banks and overseas firms, mentioning that there are very profitable joint ventures between overseas banks and Turkish banks.
Nuyens, who was in Istanbul as a part of the International Arab Banking Summit, stated, “Therefore, I think Türkiye is very successful and actually increasing its collaborations internationally and especially in the Arab world.”
Indicating that the Istanbul Financial Center (IFC) will probably be efficient in rising the significance of the town within the monetary sector, Nuyens famous, “Türkiye has a very special characteristic, which is being a country that can unite the East and the West.”
Highlighting that Türkiye has nice potential, Nuyens stated: “Because Türkiye has a young population, unemployment rates are low and Türkiye’s outlook is still positive. I think we should all continue to invest in Türkiye and consider more cooperation.”
Furthermore, she expressed the nation is intently adopted by the Arab world and continued: “When you do good business in Türkiye, you also increase your chances of cooperating with Arab countries. Of course, there is still a lot of uncertainty, but the economy is gaining confidence and therefore I think we should be confident in ourselves over the next few years.”
Nuyens identified that the banking sector worldwide is on the verge of a serious shift from specializing in development, which is a powerful assist for economies, to specializing in sustainability.
Explaining that it is a full change, she said it means wanting not solely at development but in addition at methods to transition to web zero, methods to tackle local weather change and the demographic decline that will probably be seen within the coming years.
Additionally, Nuyens emphasised the significance of discovering frequent pursuits in cooperation within the banking and finance sector between Türkiye and the United Kingdom, saying: “The issue is to see how cooperation can be mutually beneficial for both countries.”
“Türkiye is actually an open economy and has always been a reliable partner for both the United Kingdom and the European Union as a whole. We just need to focus on cooperation and what we can do together. I think we, as bankers, have a big role to play in this regard.”
Source: www.dailysabah.com
