bankpozitif

Business world is happy with gray list decision

EQS-Media / 01.07.2024 / 07:00 CET/CEST

INSTANBUL – (EuropeNewswire.Net) -- Türkiye was removed from the gray list, which it has been included in since October 2021, following the Financial Action Task Force (FATF) General Assembly held in Singapore. Important representatives of the business world welcomed the decision.

BankPozitif Chairman Dr. Erkan Kork

With the decision, it is expected that foreign investors' capital flows to Türkiye will accelerate. Commenting on the issue, BankPozitif Chairman Dr. Erkan Kork stated that with the gray list decision, there are no longer any obstacles to international investments and said, "We will see the positive effects of exiting the gray list in the short and medium term. As you know, most of the international investment funds could not invest in gray listed countries due to legal regulations. With the decision taken, funds will now be able to invest in Türkiye. I believe that a serious capital flow will begin. I think there will also be an increase in company acquisition-merger processes. I expect the interest in TL assets to increase on the equity markets side," he said.

"The Turkish economy will reach a much better level"

Emphasizing that the Turkish economy will reach a better level with the decline in inflation in the second half of the year, Dr. Erkan Kork said that the decision from the gray list will make a strong contribution to the positive outlook in the economy. Kork continued his words as follows: " Türkiye has carried out important reforms so far to get out of the gray list. The next step is to reap the fruits of the work done. On July 19, the international credit rating agency Moody's made an assessment of Türkiye. I expect the decision to be positively reflected in Moody's report. Our President Recep Tayyip Erdo?an has strong support for the economic management and this is very valuable. "I congratulate the entire economic management, especially our Minister of Treasury and Finance, Mehmet ?im?ek, who made great efforts in making this decision," he said.

The exit from the gray list means that Türkiye complies with financial regulations and international standards. It also contributes to Turkey being seen as more reliable by international investors and financial institutions.

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Issuer: bankpozitif
Key word(s): Finance

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