Last Updated On: Apr 26 2021 02:10 Gmt+3
Turkey is seeking to ramp up the issuance of Islamic sukuk bonds to help compensate for a decline in foreign investment in the country.
But the economic effects of the COVID-19 pandemic, combined with concerns about economic policy in Turkey, have reduced demand for the sharia-compliant investment tool.
“Volatility is part and parcel of doing business in Turkey,” said Guillaume Petitgas, head of emerging markets, debt capital markets for the Middle East and Africa at HSBC, according to a January report published by the Bonds & Loans website.
Many foreign investors have been spooked by accelerating inflation in Turkey, economic and monetary policy, and the decline of the lira, which traded near a record low of 10.07 to the euro on Monday.
(MENAFN - AzerNews) By Ayya Lmahamad
Central Bank of Azerbaijan (CBA) and Turkey s Capital Markets Board have signed a memorandum of understanding on cooperation, CBA s press service has reported.
The memorandum aims to create a necessary framework for the development of regulatory cooperation in capital markets, exchange of experience, support for research and information sharing, taking into account the requirements of the national legislation of both countries.
According to the memorandum, the two institutions will exchange experience in the development of capital markets and provide consulting services. In addition, both institutions will conduct joint research and training programs under the MoU.
Gedik Investment implements Itiviti for futures market making and algorithmic trading
Gedik seeks to boost competitiveness in Turkey s growing capital markets space
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LONDON, April 20, 2021 /PRNewswire/ Itiviti, a leading technology and service provider to financial institutions worldwide, today announced that Gedik Investment, a leading investment banking advisory and brokerage firm in Turkey, has rolled out Itiviti Tbricks for its futures market making and algorithmic trading operations.
Gedik Investment was seeking a platform to lower latency and increase its trading volume capabilities to boost market share and profits in the Turkish capital markets. We have been in this industry for a long time and have a good understanding of the region s capital market and Fintech solution providers, said Sevan Ülütaş, Managing Director, Market Making, Gedik Investment. For us, choosing Itiviti over other technology providers w
4/16/2021 10:55:23 AM GMT
Turkey s central bank is also banning payment providers from offering fiat-to-crypto on ramps for cryptocurrency exchanges.
A new ban in Turkey will prohibit crypto holders from using their digital assets for payments, in addition to preventing payment providers from providing fiat on ramps for crypto exchanges.
According to a Friday announcement by the Central Bank of the Republic of Turkey, the ban will come into effect on April 30, rendering any crypto payments solutions and partnerships illegal.
The bank stated, “any direct or indirect usage of crypto assets in payment services and electronic money issuance” will be forbidden.
While banks are excluded from the regulation, which means users can still deposit Turkish lira on crypto exchanges using wire transfers from their bank accounts, payment providers will be unable to provide deposit or withdrawal services for crypto exchanges.
Turkey fines 10 firms over short-selling irregularities tynmagazine.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tynmagazine.com Daily Mail and Mail on Sunday newspapers.