Turkey is building a new financial center in İstanbul. In the beginning of 2022, İstanbul Financial Center is going to be home to three state-owned banks of Turkey.
İstanbul being a financial center is not a new feature of the historic capital, the famous ‘Banks Street’ was the midpoint of financial need of the global and regional trade in the late 19th century. Turkey is building a new financial center in İstanbul. In the beginning of 2022, İstanbul Financial Center is going to be home to three state-owned banks of Turkey. With the new legislation and incentive mechanisms, it is targeted that is going to be an international operation hub for local and international banking. The unique location, time-zone and connectivity of İstanbul provide exceptional access to many international markets. Also, Turkey contains within itself an extensive opportunity for international banks and financial institutions. The center is going to be an international financial hub where east and west meets in which local and international professionals expands their business and network for commercial and wholesale banking, trade and export finance, project and infrastructure funding, treasury services and correspondent banking. Banking, Capital Markets, Insurance and Payment systems are main players of the ecosystem. The one-stop shop within the financial center aims to ease the application processes of the openings of these institutions within the financial center.