Istanbul Finance Center

With its large metropolises growing at high rates, both horizontally and vertically, Turkey has become the champion of skyscrapers in the European region, according to a prominent non-profit data provider.

The Turkish Central Bank will move its headquarters from Ankara to Istanbul this summer, according to an internal e-mail notice reported by the local media on Feb. 14. 

Last year, Central Bank Governor Şahap Kavcıoğlu told the media about plans to relocate the bank's units to the Istanbul Financial Center (IFC), which is still under construction, within 2022.

With Istanbul Finance Center, a project expected to be launched by early 2022, Turkey targets to be a hub for Islamic finance, the nation's president said on Oct. 21.

The Turkish Central Bank has decided to establish three new divisions in a bid to adapt its organizational structure to its priorities, according to a statement issued by officials on Feb. 4. 

Under its Structural Economic Research Department, the bank will form a division in charge of analyzing developments in the food and agricultural product markets.

Turkey will take decisive steps in alternative finance in days to come to assume its rightful place and raise the share of participation finance in total banking assets to 15 percent as of 2025, President Recep Tayyip Erdoğan said on Sept. 9.

Turkey's treasury is set to pave the way for foreign investors to issue foreign exchange-based securities as part of the Istanbul Finance Center project, in a move to attract more foreign investors into the country's capital markets, a top economy official has announced. 

A law on the Istanbul Finance Center (IFC) will soon be issued, Finance Minister Naci Ağbal has said, adding that the center will offer many opportunities to attract investors. 

New specialized courts will be established to deal with financial and information technology cases, Prime Minister Binali Yıldırım has said, outlining planned reforms "to boost Turkey's economy."