FINANCIAL SECTOR IN TURKEY ENCOURAGED BY THE GOVERNMENT
Turkish government has taken steps in order to ensure that the financial system complies with international standards.
Thus, EU and OECD norms form the basis of the Turkish financial system as regards accounting and supervision standards. Regulations ensuring the implementation of risk management measures in all financial institutions will be drafted. In addition to the transition to the Basel II Framework, harmonization with the relevant EU regulations will be achieved and a credit and corporate governance rating system will be set up to ensure monetary and financial stability.
Turkish government announced measures for attracting foreign investment to the financial sector.
Indeed, within the scope of developing new markets and products and deepening the financial system, the development of gold banking will be supported, the rights of minority shareholders in companies will be improved and financial instruments will be issued to benefit from the capital accumulation in the Gulf countries.
