IslamicFinance.de

#Turkey's Finance Minister Naci Agbal said the ministry initiated studies on a draft law on the Istanbul International Finance Center (IIFC). Agbal stated that the government introduced new financial instruments step by step, including the founding of the Sovereign Welfare Fund (SWF), real estate certificates and Islamic finance tools, in an attempt to intensify Turkey's financial markets. The draft law on the IIFC aims to offer opportunities to financial players and attract international financial institutions to Turkey. At the IIFC 50,000 people will be employed and it will have 25,000 daily visitors once opened. The joint infrastructure work of the financial center includes an administrative building, a police station, a health center, fire department, continuing education center, various academic courses, a mosque, a nursery, an underground parking lot and a trestle.