The Istanbul Financial Center (IFC) and Abu Dhabi Global Market (ADGM) have entered into a strategic agreement aimed at bolstering financial collaboration and integration between Türkiye and the United Arab Emirates (UAE). Announced on Wednesday, the partnership is set to enhance Türkiye’s financial landscape by uniting public and private sector stakeholders, including banks, asset managers, and brokerage firms, according to Anadolu Agency (AA).
The agreement will drive the development of financial markets, products, and services in Türkiye while facilitating their integration into global capital markets. Areas of focus include research and development, training initiatives, knowledge sharing, and technological advancements.
Both financial centers have pledged to collaborate on organizing conferences, seminars, and events to foster international cooperation and promote their respective financial industries. Business representatives from Türkiye and the UAE will participate in these events, aiming to build stronger bilateral ties and advance mutual policy goals.
Focus on Sustainability and Innovation
The cooperation emphasizes expertise exchange in areas such as green finance, sustainable investments, and environmental, social, and governance (ESG) principles. Other key topics include corporate social responsibility and green bonds, highlighting a shared commitment to fostering sustainable economic growth.
Ahmet Ihsan Erdem, CEO of the Istanbul Financial Center, emphasized the significance of the partnership, stating, “This agreement strengthens the connection between the two financial centers and fosters an ecosystem where institutions from both countries can collaborate and innovate.”
Officially inaugurated in April 2023, the IFC serves as a hub for Türkiye’s financial services industry. It houses major institutions such as the Central Bank of the Republic of Türkiye (CBRT), the Banking Regulation and Supervision Agency (BDDK), and Borsa Istanbul, along with key domestic banks. Positioned as a regional financial hub in the short term, the IFC aspires to achieve global prominence in the medium term.
