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Message of ‘strong step’ from TSPB President Eraslan


According to the schedule announced regarding the steps to be implemented under the leadership of the Capital Markets Board, regulations to strengthen the capital structure of companies and facilitate the public offering processes will be made until the end of the year.

Turkey Capital Market Association (TSPB) Chairman Tevfik Eraslan, the AA correspondent, covered Economic Reforms announced by Prime Minister Recep Tayyip Erdogan answered questions about the steps to be taken to strengthen the capital market.
employment and the focus on production economy reforms, emphasizing that they found positive in terms of the needs of the country Eraslan, sustainable growth of Turkey’s economy, the expansion of the domain of capital market to be directed to sources of technology-oriented and efficient space and said they believe should be developed.

Eraslan stated that in addition to increasing savings and attracting them to capital markets, the investment environment should also be strengthened, so that foreign investments needed will come to the country.

Stating that they believe that the sphere of influence of capital markets should not only be limited to the country but also the region where they are located, Eraslan said:

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“We see that the government, in addition to encouraging investors and companies’ orientation towards capital markets, has the desire to create a capital market where all kinds of financial assets can be traded, as in the world’s leading financial centers. A series of regulations regarding the facilitation and promotion of the public offering processes of companies, share and lending-based crowdfunding for innovative companies’ access to finance, project finance fund, project-based securities and the development of the private pension system are included in the Economic Reforms. We consider the scheduling to be implemented quickly within this year as very important steps in terms of developing the capital markets. “

“COST OF COMPANIES WILL BE REDUCED BY FACILITATING PUBLIC OFFERING PROCESSES”

Tevfik Eraslan said that they foresee that the public offering process will be simplified and the costs for companies will be reduced with the regulations to facilitate and encourage the public offering processes of companies in Economic Reforms.

Explaining that this will ensure that the public offerings, which have recently increased with the record demands of domestic investors, will continue in the long term, Eraslan said, “In addition, with the Bond Guarantee Fund to be established, we find it very valuable in terms of encouraging the real sector’s orientation to the capital markets. be implemented quickly shares and debt-based crowdfunding application for access to finance, as well as in developed countries in Turkey will provide support capital markets and the entrepreneurial eco-system will be one of the important tools. ” he spoke.

Eraslan, Individual Retirement System with the new regulations (BES) is planning for the further strengthening of Turkey’s needed in terms of the creation of long-term sources reported that they found it very positive.

the provision of the pension funds traded on the Electronic Fund Distribution Platform of Turkey, “a very important development and expects the sector” as described Eraslan, he said:

“With this system, IPS investors will have the opportunity to create pension plans as they wish by choosing from among all private pension funds in the sector. This will increase diversity, competition and productivity in the sector. We anticipate that enabling the transfer of the savings before the institutions such as funds and foundations that provide services to the PPS with attractive opportunities until the end of 2023 will benefit the strengthening of the institutional investor base of IPS. We think that it will make a great contribution and thus, capital markets will provide more added value to companies, investors and the economy. “

“THE POSSIBILITY OF INDIVIDUALS TO SAVE WILL INCREASE”

Tevfik Eraslan, to increase savings in Turkey, told IPS as well as incentives brought in line with the different objectives of individuals will increase the opportunity to save the entry into force of public-funded new programs.

In this sense, Eraslan stated that they think that the expansion of the dowry and housing accounts designed at the end of 2015, including the issues of marriage and housing acquisition, and the expansion of direct state contribution to include capital market participants, as in some countries, will have positive effects. We consider that the implementation of the Targeted Investment Account application, designed by centering it, will increase the savings. ” said.

Eraslan emphasized that as TSPB, they will provide effective support to the necessary infrastructure works under the leadership of relevant institutions and organizations regarding the regulations on capital markets within the scope of Economic Reforms.

“As TSPB, in the context of financial inclusion, protecting and informing individual investors is one of our priority issues. In this sense, considering the new investors turning to the capital markets in recent years, I would like to underline that protecting and informing investors is more important than ever.

With this awareness, as TSPB, we will continue to carry out various activities to inform and protect individual investors in cooperation with all stakeholders of the capital markets, especially the CMB and Borsa Istanbul. On the other hand, we think that the realization of all regulations in the Economic Reforms, especially the promotion of public offering and the strengthening of the IPS, is of great importance for the stable growth of our industry and the country’s economy in order to deepen the capital markets and expand its sphere of influence. “

STEPS TO BE TAKEN TO STRENGTHEN THE CAPITAL MARKETS

Within the scope of the Economic Reforms announced by President Recep Tayyip Erdoğan, it was stated that a series of steps will be taken to strengthen the capital markets. According to the schedule announced by the Ministry of Treasury and Finance, these steps are planned to be implemented by the end of the year at the latest.

According to the schedule announced regarding the steps to be implemented under the leadership of the Capital Markets Board, regulations to strengthen the capital structure of companies and facilitate the public offering processes will be made until the end of the year.

The arrangements for the project finance fund and project-based securities will be completed at the end of June. In this context, it will be made possible to finance projects in areas such as infrastructure, transportation, energy, communication and health, which are public services, through capital markets, and for citizens to participate in these investments.

Crowdfunding applications based on share and borrowing will also be implemented by the end of September for innovative companies to access finance. Within the scope of the steps to be taken, green bond and sukuk issues will be encouraged by preparing a guideline in line with international standards in order to finance environmentally sensitive investments. The guide will be prepared by the end of the year.

Pension funds, to be provided to Turkey by the end of September traded on the Electronic Fund Distribution Platform. This will enable citizens to buy and sell all funds in the private pension system.

Investment accounts transferred to the Investor Compensation Center due to the statute of limitations will be returned upon request of the beneficiaries and their property rights will be secured. This arrangement will also be implemented by the end of the year.

On the other hand, with the regulation to be made until the end of the year, the Bond Guarantee Fund will be established and thus bond issues of real sector companies will be facilitated.

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