Arab banks looking for opportunities in Turkey

“Arab banks are continuing negotiations to operate in Turkey” said General Secretary of Arab Banks Association Wissam H. Fattouh.

General Secretary of Union of Arab Banks Wissam H. Fattouh attended the 3. Arab-Turkish Banking Forum, organized by Arab Banks Association and The Banks Association of Turkey. He said that despite the political situation in Arab countries and the economic developments in Turkey, the relationship between Arab world and Turkey is continuing in a positive direction. “Especially Emirates, Bahrain, Albaraka from Gulf region are continuing investments in Turkey despite the developments in the Arab world.” said Fattouh. Fattouh stated that the liquidity and investment levels are high in Arab world and because of that Arab world needs Turkey as a financial center in order to open to Europe and the world.  Emphasizing that resources are rich in the Arab world Fattouh said. “Economic relations between Turkey and Arab world is very healthy.”

Fattouh said that economic volatility can be seen everywhere like it is seen Turkey and that this period is only temporary. He does not think that this period will affect the economic relationship between Turkey and Arab world. İbrahim Halil Çanakçı, Undersecretary of Treasury said that in a period when banking sectors in many countries struggle with serious problems, investment interest from the Arab League to Turkey continues.

Interest for organized industrial zones

Muhammed Al Rabie, General Secretary of Council of Arab Economic Unity, said that steps are needed to be taken to improve the relationship between Arab countries and Turkey.

Al Rabie stated that it is a common goal for both parties that Arab countries benefit from the experience of Turkey in terms of organized industrial zones and there are cooperation opportunities in terms of industry, agriculture and tourism.

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