Istanbul, Abu Dhabi financial centers ink cooperation deal

By Serap Dogan

ISTANBUL (AA) - The Istanbul Financial Center (IFC) and the Abu Dhabi Global Market have signed a deal to cooperate on boosting Türkiye’s financial competitiveness by bringing together public and private sector banks, asset management firms, brokerage firms, and more.

The IFC said in a statement on Wednesday that the deal will help boost the development efforts of Türkiye’s financial markets, products, and services, in addition to strengthening their integration into international financial and capital markets.

Under the deal, the two financial centers will work together in the areas of research, development, training, transferring know-how, and technological developments.

They agreed to support each other when preparing various meetings, conferences, seminars, and other promotional and international development-related events.

The deal includes the participation of business representatives from both Türkiye and the United Arab Emirates in relevant events, which the financial centers will organize in the two countries, while working towards boosting the capacities of the two countries through cooperation on technical assistance and policy development that benefit both sides.

The two parties will support various areas through exchanging expertise, such as in green and sustainable finance, environmental, social, and governance (ESG), green bonds, corporate social responsibility, and sustainable and responsible investments

Ahmet Ihsan Erdem, CEO of the Istanbul Financial Center, said in a statement that the cooperation deal will bring the two financial centers closer and stronger and it will allow them to create an ecosystem in which institutions from the two countries can share and work together.

*Writing by Emir Yildirim