President Recep Tayyip Erdogan said that money laundering, illicit transfers of funds and manipulative transactions are undermining trust in global financial markets, while warning of deepening inequality.
„To counter these threats, we are strengthening international cooperation and prioritizing the development of transparency, oversight and information-sharing mechanisms,“ Erdogan said.
The president's remarks were made in a video address to the General Assembly and Annual Meeting of the World Federation of Exchanges (WFE) in Istanbul.
Turkey is implementing a comprehensive economic program aimed at achieving a balanced and inclusive growth, increasing productive capacity and ensuring lasting financial stability. The financial sector is at the heart of these efforts.
Erdogan stressed that Borsa Istanbul Stock Exchange (BIST) continues to make steady progress towards becoming a leading market infrastructure provider not only for Turkey but also for the wider region.
“With its focus on digitalization, sustainable finance and participation-based products, Borsa Istanbul is strengthening the global competitiveness of its ecosystem“, he said.
Erdogan also emphasized the importance of the Istanbul Financial Center, calling it a “strategic vision“ designed to position Turkey as a regional financial services hub.
“We are ready to share experiences“, President Erdoğan said.
Emphasizing the importance of the WFE meeting, Erdoğan said that the gathering of stock exchange leaders from around the world provides an important platform to shape the future of capital markets. markets through collective wisdom.
„Turkey is ready to share its deep-rooted experience not only in pursuit of its own goals but also to help ensure regional and global financial stability,“ he said.
Capital markets should not be managed solely for profit, but should also take into account social and environmental impacts.
The president warned that economic inequality remains one of the biggest challenges for global financial systems.
„Around the world, the gap between the richest and poorest segments of society is widening, and income equity has deteriorated to unprecedented levels,“ Erdogan said.
He expressed hope that joint efforts within the World Federation of Exchanges would contribute to bridging this gap.