Istanbul Finance Center

Participants operating in the Istanbul Finance Center (IFC) will be able to conduct their accounting transactions in foreign currencies starting from 2025.

The "General Communiqué on the Tax Procedure Law," which was prepared by the Revenue Administration of the Treasury and Finance Ministry, entered into force after being published in the Official Gazette.

The vacancy rate in Grade A offices in Istanbul, Türkiye's financial and commercial center, has declined markedly in the first quarter of 2024 compared with the same period of last year, according to a report by Cushman & Wakefield TR International.

In the January-March period of 2022, the vacancy rate stood at as high as 20 percent.

The Istanbul Finance Center (IFC) is an important project for the Turkish economy that will allow international funds to flow into the country, Environment, Urbanization and Climate Change Minister Murat Kurum has stated.

"The Istanbul Finance Center project will have a very important place in the future of the Turkish economy," Kurum said at a news conference at the IFC.

Istanbul Finance Center (IFM) will enhance Türkiye's potential of attracting foreign capital inflow, President Recep Tayyip Erdoğan said on April 17.

The Istanbul Financial Center (IFC) will open on April 17, Environment, Urbanization, and Climate Change Minister Murat Kurum has said.

A ceremony will be held to deliver houses in the Fikirtepe neighborhood to be attended by President Recep Tayyip Erdoğan, Kurum said during a visit in Istanbul.

With its large metropolises growing at high rates, both horizontally and vertically, Turkey has become the champion of skyscrapers in the European region, according to a prominent non-profit data provider.

The Turkish Central Bank will move its headquarters from Ankara to Istanbul this summer, according to an internal e-mail notice reported by the local media on Feb. 14. 

Last year, Central Bank Governor Şahap Kavcıoğlu told the media about plans to relocate the bank's units to the Istanbul Financial Center (IFC), which is still under construction, within 2022.

With Istanbul Finance Center, a project expected to be launched by early 2022, Turkey targets to be a hub for Islamic finance, the nation's president said on Oct. 21.

The Turkish Central Bank has decided to establish three new divisions in a bid to adapt its organizational structure to its priorities, according to a statement issued by officials on Feb. 4. 

Under its Structural Economic Research Department, the bank will form a division in charge of analyzing developments in the food and agricultural product markets.

Turkey will take decisive steps in alternative finance in days to come to assume its rightful place and raise the share of participation finance in total banking assets to 15 percent as of 2025, President Recep Tayyip Erdoğan said on Sept. 9.