EVENTS - IFSB SUMMIT - Industry Leaders Discuss the Impact of Global Regulatory Reforms on the Islamic Financial Services Industry

www.ifsb.org -  Industry Leaders Discuss the Impact of Global Regulatory Reforms on the Islamic Financial Services Industry  Istanbul, 17 May 2012 - There is a need to find the remedy to the challenges facing the global financial services industry. Islamic finance provides a solution but legal and regulatory challenges facing the industry need to be addressed.

This was the consensus of the distinguished speakers at the first day of the 9^th IFSB Summit themed as “Global Financial Reforms: The Changing Regulatory Model and Islamic Finance” that is hosted by the Central Bank of the Republic of Turkey. (source)

CAPITAL MARKETS - KFH-Turkey launches Silver exchange traded fund at Istanbul bourse

www.zawya.com - KFH-Turkey launched the Silver traded fund at Istanbul bourse yesterday during a celebration that was attended by several Turkish officials, including Istanbul Bourse ManagerIbrahim Tohan, in addition to a bouquet of businessmen, investors, important figures, It is worth noting that this is the first account of its kind in Turkey.

KFH-Turkey's CEO Ufuk Iwan stated that the new fund complements the gold traded fund that the bank offered last year and is highly demanded by clients; especially that Turkish people are keen to purchase and keep gold and silver. (source)

CAPITAL MARKETS - İMKB celebrates the trading of “Kuveyt Türk Participation Bank B Type Silverplus ETF”

www.ise.org - On the occasion of the first trading day of “Kuveyt Türk Participation Bank B Type Silverplus ETF”, the executives and guests of the relevant bank will visit İMKB (İstanbul Menkul Kıymetler Borsası) and ring the opening bell of the Stock Market on May 21, 2012.
Mr. İbrahim TURHAN, İMKB Chairman & CEO, Mr. Mohammed Al OMAR, Chairman of the Board of Kuveyt Turk, Mr. Abdullah TIVNIKLI, Vice Chairman and Member of the Board of Kuveyt Turk, Mr. Ufuk UYAN, CEO of Kuveyt Turk and Mr. Murat ÇETİNKAYA, Vice President of Kuveyt Turk will deliver speeches, following which the officials will ring the opening bell and start the session at 09:30. (source)

CAPITAL MARKETS - Turkey ready for joint bourse index with Gulf

www.hurriyetdailynews.com - Istanbul Stock Exchange (İMKB) Head İbrahim Turhan said Turkey, Dubai and Abu Dhabi had agreed in principle to launch a joint index, as studies continued for such an attempt with Egypt. Plans for sukuk (Islamic banking) bonds are also on the way, Turhan said, speaking on the second day of the Arab-Turkish Banking and Finance Forum in Istanbul. (source)

CAPITAL MARKETS - Istanbul Stock Exchange's CEO and chairman unveils plans to expand Shariahcompliant securities

www.euromoney.com - Ibrahim Turhan, newly appointed CEO of Istanbul Borsasi, talks exclusively to Euromoney about his plans to expand Shariah-compliant products
Ibrahim Turhan, the CEO and chairman of Istanbul’s stock exchange, exclusively met with Euromoney in Turkey and revealed ambitious plans to reform the Turkish capital markets.
However, his first action as chairman was more symbolic than practical: renaming the stock exchange.
The Istanbul Stock Exchange is now known as Istanbul Borsasi. This might seem a small change but it is significant to Turhan. (full story)

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)