Kocaeli was the Fifth Stop of “Türkiye's Participation Finance Strategy Meetings from the Real Sector Perspective”

The meeting series hosted by MUSIAD branches in Afyonkarahisar, Gaziantep and Kahramanmaraş provinces last year and now the fifth meeting was held on 9 January 2023 with the wide participation of MUSIAD Kocaeli and Young MUSIAD Kocaeli members.

While the welcome speeches of the event were delivered by MUSIAD Kocaeli Branch President İsmail Uslu and Young MUSIAD Kocaeli Branch President Emrullah Yolasığmaz, keynote speeches given by President of Finance Office Prof. Göksel Aşan, Vakıf Katılım Chairman of the Board of Directors Öztürk Oran and Ziraat Katılım Chief Executive Officer Metin Özdemir.

In the event, which was held with the participation of Kocaeli Metropolitan Municipality Deputy Mayor Yaşar Çakmak and Derince Mayor Zeki Aygün, as well as 70 real sector members, the opportunities that Türkiye’s participation finance strategy and ecosystem will present to the real sector and the expectations of sector representatives in the field of participation finance were discussed.

“We will follow the duties and action items given to the organizations in the Participation Finance Strategy Document”

Speaking at the opening of the event, Mr. Aşan stated that the point reached today in the field of participation finance has been reached with great efforts and added that some steps had been taken to remove the obstacles encountered in reaching this point before, but the creation of a holistic infrastructure in this area was always delayed. Mr. Aşan said that either a decree had been issued, an article had been added to the law or a regulation had been issued to solve the problems encountered in the field of participation finance, but a holistic, independent structure could not be established.

Emphasizing that they aimed for two points when they started studies for participation finance, Mr. Aşan said, “To expand and develop participation finance in Türkiye, the first of our goals was to prepare a strategy document that would cover all these areas. The second was the creation of a unique and independent law on participation finance”. 

Stating that they have completed the strategy document, which is one of their goals, and last October they shared it with the public at the introductory meeting held in presence of President Recep Tayyip Erdoğan, Mr. Aşan expressed that in the next stage, they will follow the duties and action items given to the institutions in the Participation Finance Strategy Document.

Pointing out that the preparation of the law in the field of participation finance continues, Mr. Aşan said, “We will have an independent law only on participation finance other than the banking law. Thus, we will have a strong legal infrastructure for the needs of the sector”.

Stating that the eyes of the world are on our country, Mr. Aşan said, “Due to our duty, we go abroad frequently and meet with the financial circles there. In these meetings, Muslim countries want to do business with us and Türkiye to be the leader in this field. The eyes of this geography are on Türkiye. The more successful examples we have from here, the faster we will be able to spread those successful examples to this geography. What we have to do is to prepare the whole infrastructure and solve the existing problems. With the support of the state, we can expand the participation finance field to a certain extent. The most important point here is the support of you, our valuable business people. The more you support participation finance institutions, the more this area will be open to development”.

In the event, which continued with question and answers session after the speeches, the participation finance strategy of our country was evaluated with the contributions of industrialists and businessmen from Kocaeli.