NOTABLE ADVICES TO STUDENTS FROM IMKB CHAIRMAN TURHAN
Istanbul Stock Exchange Chairman (IMKB) Ibrahim Turhan has met with the students at Izmir University of Economics. Ibrahim Turhan, who has been invited by IUE President of the Board of Trustees Ekrem Demirtaş, assessed Turkey and world in a wide range of issues from money market to capital market at the conference.
Academicians as well as the students showed a great interest in the conference which was hosted by President Demirtaş and Acting Rector Prof. Dr. Tunçdan Baltacıoğlu. IMKB Chairman Turhan stated that the world economy went through a major change as a result of the global economic crisis, and that the estimations made in early 2000’s changed as well. He also indicated that, Turkish economy performed well after the crisis; however, the main problem was that the savings for growth rate of Turkey were insufficient.
İbrahim Turhan indicated that Turkey corrected its financial policy and the restructuring of the banking sector was completed. He said, “The money markets were powerful up until now in Turkey. We cannot talk about long-term where the inflation and real interests are this high. It’s totally stuck in short-term. Up until now, the financial intermediation mechanisms in Turkey worked through banking sector. Turkey corrected its financial policy, improved its money policy lately, and completed the restructuring of the banking sector. Our topic nowadays is capital markets. Capital markets are in fact very critical for domestic savings and a permanent growth of the economy.”
IMKB Chairman Turhan, who reminded us that the Capital Market Law would change, pointed out the importance of Turkey transitioning from money market to capital market, and from banking to stock exchanges. He stressed out the importance of public offering campaign in this sense. He said, “The enterprises in Turkey are not at peace with the capital market. 127 out of thousand biggest companies; and 28 out of 100 biggest companies are at IMKB. The banking sector will be scrutinized, the cost of financial intermediation will increase, and securing finances through banking will be harder in parallel with these in the coming periods. This is one of the issues that clear the way for capital markets. Public offering will provide global recognition as it will increase the credibility.”
İbrahim Turhan also gave advices to students in his speech and pointed out that the youth is the future and present of Turkey. He warned the students to be conscious about the inflation and said, “Be very well aware of the inflation. Do not rely on policies that will cause inflationist results. It may be appealing as narcotics. That vision you dream about, that dream consumes your brain as narcotics do. Stay away from financial and money policies as you do from narcotics, and substances that give you false pleasure. You are the future of Turkey. This is a very important responsibility. You may come upon people that may want to deceive you with tempting promises. Be aware if a politician is way too generous with the state budget. There is no such thing as state money, that money is yours.”
President Demirtaş and Acting Rector Prof. Dr. Tunçdan Baltacıoğlu presented IMKB Chairman İbrahim Turhan with a plaque of appreciation at the end of the conference. İbrahim Turhan answered each question of the students after his speech at the Board of Trustees Hall.
Academicians as well as the students showed a great interest in the conference which was hosted by President Demirtaş and Acting Rector Prof. Dr. Tunçdan Baltacıoğlu. IMKB Chairman Turhan stated that the world economy went through a major change as a result of the global economic crisis, and that the estimations made in early 2000’s changed as well. He also indicated that, Turkish economy performed well after the crisis; however, the main problem was that the savings for growth rate of Turkey were insufficient.
İbrahim Turhan indicated that Turkey corrected its financial policy and the restructuring of the banking sector was completed. He said, “The money markets were powerful up until now in Turkey. We cannot talk about long-term where the inflation and real interests are this high. It’s totally stuck in short-term. Up until now, the financial intermediation mechanisms in Turkey worked through banking sector. Turkey corrected its financial policy, improved its money policy lately, and completed the restructuring of the banking sector. Our topic nowadays is capital markets. Capital markets are in fact very critical for domestic savings and a permanent growth of the economy.”
IMKB Chairman Turhan, who reminded us that the Capital Market Law would change, pointed out the importance of Turkey transitioning from money market to capital market, and from banking to stock exchanges. He stressed out the importance of public offering campaign in this sense. He said, “The enterprises in Turkey are not at peace with the capital market. 127 out of thousand biggest companies; and 28 out of 100 biggest companies are at IMKB. The banking sector will be scrutinized, the cost of financial intermediation will increase, and securing finances through banking will be harder in parallel with these in the coming periods. This is one of the issues that clear the way for capital markets. Public offering will provide global recognition as it will increase the credibility.”
İbrahim Turhan also gave advices to students in his speech and pointed out that the youth is the future and present of Turkey. He warned the students to be conscious about the inflation and said, “Be very well aware of the inflation. Do not rely on policies that will cause inflationist results. It may be appealing as narcotics. That vision you dream about, that dream consumes your brain as narcotics do. Stay away from financial and money policies as you do from narcotics, and substances that give you false pleasure. You are the future of Turkey. This is a very important responsibility. You may come upon people that may want to deceive you with tempting promises. Be aware if a politician is way too generous with the state budget. There is no such thing as state money, that money is yours.”
President Demirtaş and Acting Rector Prof. Dr. Tunçdan Baltacıoğlu presented IMKB Chairman İbrahim Turhan with a plaque of appreciation at the end of the conference. İbrahim Turhan answered each question of the students after his speech at the Board of Trustees Hall.
