Istanbul Financial Center (IFC) Project

With its unique position of connecting Asia and Europe, Istanbul has been the center of trade and culture for centuries. Ranked as one of the largest cities in the world, Istanbul has a population of over 15 million people, constituting nearly 19 percent of the country’s total population. The city is considered as the capital of business and finance, and the government has set the target to transform Istanbul into a prominent financial center. 

Turkey’s geo-strategic location, its favorable demographics of young population with a diversified set of skills, its qualified labor force and the strong growth dynamics of the country make Istanbul an attractive destination for business and an ideal candidate for an international financial hub.

The Istanbul Financial Center (IFC) project, aiming to develop the city as a global financial center by 2023, includes developing the necessary legal framework, tax regulations, technological infrastructure, education and human capital. The Strategy and Action Plan regarding the IFC Project is currently being implemented and monitored by the authorities. 

The Participation Banks Association of Turkey (TKBB) has the mission to support all efforts to make Istanbul a leading financial center and is one of the responsible and cooperating stakeholders to ensure the success of the IFC project. 

Please find below some useful links/documents regarding the IFC project: 

Turkish Participation Banking Strategy Document 2015-2025
Strategy and Action Plan for Istanbul International Financial Center
The Tenth Development Plan 2014-2018
Istanbul International Financial Centre Feasibility Study
Presidency of the Republic of Turkey Investment Office
Republic of Turkey Ministry of Treasury and Finance
Banking Regulation and Supervision Agency
Capital Markets Board of Turkey
Borsa İstanbul
The Banks Association of Turkey
Turkish Capital Markets Association
Insurance Association of Turkey
Association of Financial Institutions
YASED International Investors Association
Foreign Economic Relations Board of Turkey (DEİK)
Turkish Cooperation and Coordination Agency (TİKA)