Istanbul Financial Center (IFC) regulation entered into force after being published in the Official Gazette. The regulation covers many details from the operation of the equipment in the center to the admission of new participants and management.
Istanbul Financial Center (IFC) regulation was signed by President Recep Tayyip Erdoğan and published in the Official Gazette and entered into force. IFM aims to make Istanbul the financial center of the world in the 100th anniversary of the Republic of Turkey.
The banks phase of the Istanbul Financial Center was put into service in April 2023 with the participation of President Erdoğan. In the financial center, where Halkbank, Ziraat Bank and Vakıfbank headquarters are located, international organizations from abroad are expected to take place in the coming years. The center also includes 21 office buildings equipped with the latest technology.
Türkiye Wealth Fund A.Ş. IFC, which will be managed by IFC for 20 years, aims to increase Turkey's financial competitiveness in the international arena, to contribute to the deepening and development of financial markets and products and services, as well as to strengthen integration with international finance and capital markets.
With the published regulation, it was stated that all elements such as the rental of all units in the Istanbul Finance Center (IFC), the admission of new participants, the operation of IFC equipment, security, maintenance, repair and dues will be managed by Istanbul Finans Merkezi A.Ş. for 20 years.
