The forum discussed the promising potential of Turkish-Arab financial ties and ways to capitalise on new avenues of investments in start-ups and fintech companies.
More than 30 fintech companies from Turkiye have participated in the Turkish-Arab Financial Forum in Dubai, where discussions focused on increasing cooperation between the two countries.
The forum, which was held for the first 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 other Turkish associations and companies.
Speaking at the forum, Dağlıoğlu emphasised the importance of Turkish-Arab cooperation for the two countries and stated that this rapidly advancing commercial cooperation should be taken to a higher level.
Emphasising that Turkiye has a deep and competent talent pool, Dağlıoğlu said, “this is a critical message for investors in this field. With its location, Turkiye 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 Turkiye said that Turkiye has a strong potential in the fintech sector with its strong finances and the digital predisposition of the population.
“There are 520 fintech companies in Turkiye. Although innovation, technological infrastructure, and qualified human resources are the strengths of the fintech industry in Turkiye, 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 said.
“It is aimed that the trade volume will reach $25 billion in 5 years. Cooperation between Turkiye 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, economic cooperation
PayFix Chairman of the Board Erkan Kork said Turkiye is a competitive leader and open to innovation in the global market, saying that it is one of the most important countries that are candidates to become a global “fintech base”.
Stressing that Turkiye’s relationship with the Arab world, especially Dubai as the capital of the Gulf world, is based on past roots. Kork underlined that political and economic cooperation should continue to be strengthened and that foreign investors can reach the world through the Turkish Fintech network.
Dr Thani Bin Ahmed Al Zeyoudi, Dubai Minister of State for Foreign Trade, also said in his speech, “The investment between Dubai and Turkiye 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 economic cooperation in recent years.
Erkan Kork conveyed the greetings of President Recep Tayyip Erdogan to Al Zeyoudi and presented a handcrafted gift with the inscription “Bismillahirrahmanirrahim” in gold letters.
The second forum will be held in Riyadh, the capital of Saudi Arabia.