Turkish-Arab Financial Forum held for the first time in Dubai

More than 30 fintech corporations from Türkiye have participated within the Turkish-Arab Financial Forum in Dubai, the place discussions centered on growing cooperation between the 2 nations. 

The discussion board, which was held for the primary time in Dubai on Monday, was attended by the Head of the Presidential Investment and Finance Office Ahmet Burak Dağlıoğlu, General Manager of Borrowing of the Turkish Ministry of Treasury and Finance Yiğit Korkmaz Yaşar, and representatives of different Turkish associations and firms.

Speaking on the discussion board, Dağlıoğlu emphasised the significance of Turkish-Arab cooperation for the 2 nations and acknowledged that this quickly advancing business cooperation ought to be taken to the next stage. 

Emphasising that Türkiye has a deep and competent expertise pool, Dağlıoğlu stated, “this is a critical message for investors in this field. With its location, Türkiye can be the epicentre of many continents. Its solutions in the capital market had always been discussed, but the services provided by fintech became a useful view of the economy after the pandemic. Therefore, I recommend you to consider the opportunities provided by fintech, as they can be successful internationally, and are investor friendly.”

Ufuk Bilgetekin, Head of the Association of Payment and Electronic Money Institutions of Türkiye stated that Türkiye has a robust potential within the fintech sector with its sturdy funds and the digital predisposition of the inhabitants. 

“There are 520 fintech companies in Türkiye. Although innovation, technological infrastructure, and qualified human resources are the strengths of the fintech industry in Türkiye, capital and investments need to be directed towards this area. With the increase in acceleration programs for fintech and the interest of start-ups in fintech, innovative solutions offered by companies working in this field attract attention as opportunities for domestic and foreign investors.” he stated. 

“It is aimed that the trade volume will reach $25 billion in 5 years. Cooperation between Türkiye and Arab countries offers opportunities to accelerate the momentum in the fintech sector. This cooperation can create joint ventures in cross-border payment systems, digital banking and investment platforms.” he added.

Political, financial cooperation

PayFix Chairman of the Board Erkan Kork stated Türkiye is a aggressive chief and open to innovation within the international market, saying that it is among the most vital nations which might be candidates to turn into a worldwide “fintech base”.

Stressing that Türkiye’s relationship with the Arab world, particularly Dubai because the capital of the Gulf world, is predicated on previous roots. Kork underlined that political and financial cooperation ought to proceed to be strengthened and that overseas traders can attain the world by means of the Turkish Fintech community.

Dr Thani Bin Ahmed Al Zeyoudi, Dubai Minister of State for Foreign Trade, additionally stated in his speech, “The investment between Dubai and Türkiye has increased by 40 percent since 2022. I hope this increase will gain a greater momentum in the coming days,” and expressed his satisfaction with the financial cooperation lately.

Erkan Kork conveyed the greetings of President Recep Tayyip Erdogan to Al Zeyoudi and offered a handcrafted present with the inscription “Bismillahirrahmanirrahim” in gold letters.

The second discussion board can be held in Riyadh, the capital of Saudi Arabia.

READ MORE: Selcuk Bayraktar: Türkiye reworking to a ‘technology-developing nation’

Source: TRTWorld and companies