International Arab Banking Summit starts in Turkey

Babacan said 1.5 million Arab people were visiting Turkey, and over 2,000 Arab companies were investing in Turkey.

International Arab Banking Summit starts in Turkey

The Turkish economy minister said on Thursday that the International Arab Banking Summit held in Turkey would contribute to financial relations between Turkey and the Arab world.

Turkey's State Minister and Deputy Prime Minister Ali Babacan said Union of Arab Banks had 400 members and assets over 2 trillion USD.

"Turkey's trade volume with Arab countries was only 7 billion USD in 2002, however it climbed to 37 billion USD in 2008, with a rise of five-folds," Babacan said during the International Arab Banking Summit in Istanbul.

Babacan said 1.5 million Arab people were visiting Turkey, and over 2,000 Arab companies were investing in Turkey.

The Turkish minister said Turkey was planning to make Istanbul a global finance center, and had prepared and started to implement an action plan.

Babacan said Turkey was the only Organization for Economic Cooperation and Development (OECD) country that did not have to intervene in its banking industry during the global crisis.

"Turkey's internal and external debt interests are in the lowest level throughout its history," he said.

Babacan said risk premium was in a better condition when compared with some of developed European countries, and all those were related with continuity and predictability of economy policies.

The Union of Arab Banks is organizing the International Arab Banking Summit in Istanbul in cooperation with the Central Bank of Turkey, the Banks Association of Turkey, the Banking Regulation and Supervision Agency of Turkey, and the World Union of Arab Bankers on June 17-18.

The summit is entitled "From Crisis to Financial Stability". The topics to be debated in the summit are Turkish-Arab Cooperation for high competitive financial ventures: towards a global and sustainable solid economy; financial Recovery: structural and regulatory reforms to enhance resilience and restore confidence; capital markets in the MENA region: recent development schemes & approaches for attracting liquidity into the markets; regional prospects of growth: means and challenges of financing for the future – The Role of Banks; the role of international media in influencing cross-border economic relations; exit strategies and financial stability framework: measures, structure, methodology and challenges.

Established in March 1974, the Union of Arab Banks aims to consolidate relations and foster cooperation between its members, to coordinate their activities.

The Union's headquarters is located in Beirut, Republic of Lebanon and has three major regional offices in Egypt, Sudan and Jordan.

The Union of Arab Banks comprises today more than (300) Arab financial and banking institutions representing the major and biggest Arab banks. This makes the Union the largest banking and financial consortium in the region.


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Last Mod: 17 Haziran 2010, 13:53
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