CAPITAL MARKETS - APPOINTMENT - New İMKB President İbrahim Turhan assumes office

Mustafa İbrahim Turhan took over the office of president of the İstanbul Stock Exchange (İMKB) from Hüseyin Erkan at a ceremony held at İMKB headquarters in İstanbul on Monday.

Turhan, who was formerly one of the four vice governors of the Central Bank of Turkey, announced the new administration’s targets at the ceremony and praised former president Erkan for his high achievements that lacked any moral flaw. (source)

ARTICLES - SPECIAL COMMENT: Turkish exchange plans ties with UAE and Egyptian markets

alifarabia.com - By Rushdi Siddiqui, Global Head of Islamic Finance, Thomson Reuters
Turkey has been building capital market bridges to GCC and South East Asia, and chairman of the Istanbul Stock Exchange, Hussain Erkan, has been a leading architect in establishing dialogue, hosting events, and facilitating cooperation and coordination with his counterparts for both Islamic and conventional finance. In this interview, Erkan shares his thoughts on the challenges and progress of Islamic finance in Turkey, among various other issues. He is hopeful that the improvements made should be able to attract investors from the GCC. (source)

INTERVIEW - Hussain Erkan - Turkey strives to build closer links with GCC stock exchanges

Turkey has been building capital market bridges to GCC and South East Asia, and chairman of the Istanbul Stock Exchange, Hussain Erkan, has been a leading architect in establishing dialogue, hosting events, and facilitating cooperation and coordination with his counterparts for both Islamic and conventional finance. In this interview, Erkan shares his thoughts on the challenges and progress of Islamic finance in Turkey, among various other issues. He is hopeful that the improvements made should be able to attract investors from the GCC. 

 

Gulf News: Would you kindly explain the role of Istanbul Stock Exchange in providing opportunities for those interested in Islamic finance?

Hussain Erkan: Islamic countries have a huge potential to create wealth in the economy with their rich resources and are capable of achieving more by improving their capital market structure. Since 2005, under the activities of Standing Committee for Economic and Commercial Cooperation of the Organisation of the Islamic Cooperation (COMCEC), Istanbul Stock Exchange (ISE) has been working on creating this awareness and developing the exchange industry in Islamic countries by acting as the coordinator of the Organisation of Islamic Cooperation (OIC) member states’ Stock Exchanges Forum. We also cooperate with other international institutions such as IIFM (International Islamic Financial Market)? on developing an appropriate structure to create solutions for increasing the liquidity of Islamic capital market instruments. (source)

CAPITAL MARKETS - Turkey’s first Islamic fund to open after new index

Traders look at their computer screens on the trading floor of the Istanbul Stock Exchange in this file photo. Turkey’s first investment fund to comply with Islamic rules will start this year following the creation of a Sharia-compliant share index on the country’s main stock exchange. Bloomberg photo

 

Turkey’s first investment fund to comply with Islamic rules will start this year following the creation of a Sharia-compliant share index on the country’s main stock exchange. (source)

FINANCIAL MARKETS - İMKB launches new index to attract Middle Eastern capital

İMKB’s chairman Hüseyin Erkan (r) with Bizim Securities chairman Bekir Boydak during the ceremony to launch the Participation Index.

FINANCIAL MARKETS - Muslim Nations Plan Stock Index Next Year to Spur Trade: Islamic Finance - Turkey to coordinate

Huseyin Erkan, chairman and chief executive officer of Istanbul Stock Exchange. Photographer: Jamie Rector/Bloomberg

BANKING - CAPITAL MARKETS - ETFs continue to make inroads

LONDON: Islamic exchange-traded funds (ETFs) continue to make slow but steady market penetration with the recent launch of a gold-based ETF, GoldPlus, launched in Istanbul by Kuveyt Turk Participation Bank, in which Kuwait Finance House has a controlling 62 percent equity state, and the imminent launch by BNP Paribas Investment Partners of its second Islamic ETF, part of its Easy ETF range, which will be listed on Bursa Malaysia.