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President of the Presidential Finance Office Asan: We will open the entire Istanbul Finance Center in 5 months

President of the Presidency Finance Office, Goksel Asan, said that after a few minor touch-ups, the entire Istanbul Finance Center will be opened within 5 months. Asan said, “We are also establishing a Finance and Technology Base within the Center. This base will operate as a technology development zone or technopark.”

President of the Presidency Finance Office, Goksel Asan, evaluated the latest developments in the Istanbul Finance Center (IFC), the first phase of which was opened recently.

Stating that the second stage of the IFC, whose first stage has been opened, is almost ready, Asan said, “There are a few minor touch-ups that need to be done. Very little work remains, especially regarding the environmental road and the Central Bank building. We anticipate that the second stage will be opened in a few months. What we call the second stage, we will actually open the whole. There may be some deficiencies in their internal arrangements. The Central Bank building, the areas we have reserved for leasing, and a special project area will be opened.

Giving the information that the main elements such as shopping malls and dining places will be opened in 3-5 months, Asan said, “Most of these places will be empty. The incoming company is making the interior arrangements. It may take some time, but it will take 3-5 months for us to say ‘Come’.”

Emphasizing that IFC will fulfill its classical function, Asan said that financial technologies (fintech) and participation finance are two areas where they intend to use the advantage of the Center more.

All infrastructure in the field of financial technologies will be created

Pointing out that they see participation finance and financial technologies as an opportunity for Istanbul, Asan made the following assessment:

“We have already done a lot of work in participation finance. Its law has not reached this period, but it will reach the next period, we have prepared the strategy document. The process is progressing quite well there. We also have a National Fintech Strategy Document from the Fintech side, we will announce it soon, our President will announce it. After that, we are establishing a Finance and Technology Base within IFC. We have completed the regulations and guides for it. We will have created the entire infrastructure of the ecosystem in the Fintech field within IFC, and then we will leave it to the private sector. They’re going to do whatever they’re doing in the infrastructure.”

Noting that this technology base will operate as a technology development zone or technopark, Asan said, “We exist, there is ASELSAN, there are universities in Ibn Haldun, Marmara, Istanbul, there is Informatics Valley. We have established such a structure, like a technopark structure. Our concern is to highlight the accelerator part there. We want to let ‘start-ups’ in and grow them. I have a dream that we will take ‘start-ups’, enlarge the successful ones and then place them in IFC. We are trying to establish a mechanism that creates its own environment from within. For example, I think that after 10 years, maybe 30% of IFC will be occupied by fintechs. The world is going there too. Let’s pave the way for him, let’s raise him there, let those who we raised there stay there. We want to create such an ecosystem.”

Coordinating committee for Fintech

Asan also gave information about the National Fintech Strategy Document. Stating that there are many goals in the document, Asan said that he attaches great importance to the goal of establishing a coordination committee, especially related to fintech. Ashan said:

“After this is announced, I hope we will progress rapidly on that side as well. There are many actors there, there is the Central Bank, there is the BRSA, we are there. I want a structure in which both the legal infrastructure and other infrastructures are built together in the coming period. I think we will progress much faster from there.”

Mentioning the support to be provided to the companies that will take part in the IFC, Asan said, “We have already included some incentives regarding the issuance of financial services, transit trade and foreign capital in the law on this issue. Whether there will be more or not, it will become clear a little along the way. We have roughly everything in Dubai Financial Center.”

Asan also noted the following regarding the demand for IFC from the private sector:

“The place will fill up faster than we expected. I see the demands, IFM Inc. under our Wealth Fund is making leases. They have the real data, but we are constantly talking to them. It will fill up faster than we expected. Let me tell you that there is foreign interest, it will increase even more.”

Source: Trthaber / Prepared by Irem Yildiz

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