Finance
Financial services sector employ more than 85 k people in Istanbul. This workforce is highly educated and loyal, with a relatively low turnover due to Istanbul’s quality of life.
A robust, diversified economy and a favorable tax environment make Istanbul’s financial services sector highly competitive. Moreover, activities in banking, insurance, pension funds, international financial transactions and venture capital investment are exceptionally competitive.
| 47 Local & International Banks Operate in Istanbul Banks Association of Turkey June 2018 |
2,816 Bank Branches Banks Association of Turkey June 2018 |
85k Employees in Banking Sector Banks Association of Turkey June 2018 |
The value of public companies on global stock markets grew by USD12.4 trillion in 2017, according to S&P Dow Jones Indices, which included dividends in its calculation. A number of markets, including Turkey's Borsa Istanbul, outperformed the U.S. Borsa Istanbul rallied by 48% in 2017 as the government implemented temporary tax cuts and a loan guarantee program that encouraged banks to lend to small and medium-sized businesses. GDP growth soared, reaching 7.2%, and becoming one of the world's top-performing economies.
Borsa Istanbul, aka Istanbul Stock Exchange, offers the opportunity to invest in various products in an organized, transparent and reliable trading environment to local and international investors with its modern technological capabilities. In all markets of Borsa Istanbul, transactions are conducted electronically, and market information is disseminated on a real-time basis.
NASDAQ and Borsa Istanbul have signed a partnership agreement recently, which aims to expand Borsa Istanbul’s global presence, while substantially strengthening Istanbul’s position as a regional hub for capital markets. Borsa Istanbul will, therefore, integrate and operate NASDAQ OMX’s suite of world-class market technologies for trading, clearing, market surveillance and risk management, covering all asset classes including energy contracts. Further, the two companies will actively collaborate in the region. This strategic partnership points to a long-term commitment which would benefit member firms and customers of both exchanges.
Progressing towards EU membership, by its regional location, Turkey is also a country of significant economic size for the Middle East, Central Asia, North Africa and Eastern Europe. The International Finance Corporation, the World Bank’s finance arm, now has its largest Office (outside Washington) in Istanbul, from where it manages
| Borsa Istanbul rallied by 48% Borsa Istanbul 2017 |
World's 2nd Best Performing Stock 2017 |
5.8 million Active Internet Banking Customers Banks Association of Turkey December 2016 |
