Istanbul, 20 Dzulqa’dah 1435/15 September 2014 (MINA) – Turkey’s Deputy Minister responsible for the economy Ali Babacan, Turkish Finance Minister Mehmet Simsek, Governor of Turkish Central Bank Erdem Basci and Vice Chairman of the NASDAQ OMX Group, Sandy Meyer Frucher are gathering in Istanbul Monday for the fifth Istanbul Finance Summit (IFS), a two day meeting to discuss innovation.
It is sponsored by the Turkish Central Bank, Borsa Istanbul and the Secretariat of the Treasury and the global communications partner for the second year is Anadolu Agency.
The head of Borsa Istanbul, Ibrahim Turan said in his opening speech, “the issue of the next decade will be funding the investment in developing countries that is over $12.5 trillion. Seven of every ten companies will start up in developing countries until 2025 according to projections.”
“The issue of the next decade is how to find finance of this $12.5 trillion gap,” Turan said, Anadolu Agency quoted by Mi’raj Islamic News Agency (MINA) as reporting.
Turan emphasized that developing countries need to invest more in order to close the gap with the developed nations and to contribute to global progress.
“This summit will contribute to Istanbul becoming an international finance center,” Professor Murat Yulek, chairman of the summit advisory board, said.
The President of Turkish Exporters Assembly Mehmet Buyukeksi said that “innovative finance requires development of sustainable methods. We believe the importance of innovative financing in development same as innovation.”
The summit is hosting leading representatives of global financial markets and senior executives from financial institutions from North America, Europe, the Gulf Region and East Asia.
The main topics being debated include investment banking, venture capital funds, angel investment and innovation finance, innovative tools and infrastructure financing methods and financial centers.
The summit has a regional character, and guests include Deputy Minister Ali Babacan, Finance Minister Mehmet Simsek, Governor of Turkish Central Bank Erdem Basci and Vice Chairman of the NASDAQ OMX Group, Sandy Meyer Frucher.
Chairman of MRL Corporation and Independent Energy Expert, Cornelia Meyer, CEO of Bahrain-based International Investment Bank, Aabed Al-Zeera, Kazanah Basional Berhad’s chairman, Mohd Izani Ghani and Kazakhistan Central Bank’s vice-president Kuat Kozhakhmetov are among the attendees. (T/P001/R03)
Mi’raj islamic News Agency (MINA)