Islamic investments, private capital and Sukuk authority Tarık Al Rifai talked about and Turkey. According to Al Rifai, Turkey will benefit from the growth of Islamic financing in a large region.
Rifai believes that Turkey is in a good position to benefit from the growth of Islamic financing in the region. He states that “When I say Turkey is in a good position of the region, I can say that the region covers the area from Eastern Europe to Central Asia. In particular, Islamic finance is in this region divided into small pieces. Dubai Islamic Finance Center covers the Middle East and Malaysia Islamic Finance Center covers Southeast Asia and there is no regional Islamic finance center covering it. However, Kazakhstan wants to become an Islamic financial center, and in the course of the past days it established Astana International Finance Center, officially launched in January 2018 with strong government support.” Hence Rifai believes that Istanbul Financial Center Project will be a giant step of anticipation, which will jeopardize Europe and Asia as well. He believes the establishment of Istanbul Finance Center is an excellent idea.
Turkey is very lucky due to its geographical position and strong trade ties in the region. To understand the potential of the Istanbul Financial Center, it is enough to look at the size of the regional Islamic population. Rifai thinks that the Project will be a good start for Turkey and soon, Turkey will dominate the sector.