Turkish Two Exchange Markets

From International Business Wiki

Financial and Capital Markets of Turkey

The country of Turkey has several different financial and capital markets like the IGE which stands for the Istanbul Gold Exchange, and the ISE which is the Istanbul Stock Exchange. This International Business Wikia is going to focus on the IGE (Istanbul Gold Exchange) and ISE (Istanbul stock exchange).

According to www.lbma.org.uk /forums/3e.SerefLBMAND2003.pdfTurkey imports on average 150 tonnes of gold annually and has long been among the top ten gold importing countries in the world. Because of this the World Gold Council figures, ranked fifth in the global ranking for gold demand in 2001 with 159 tonnes, corresponding to a 5% share in total demand. While official imports were 103,485 kilograms in 2001 and 128,905 kg in 2002, a 25% rise has been achieved on a yearly basis

The Turkish stock exchange is another huge part of the financial and capital market in Turkey. According to www.ise.org the ISE is the only securities exchange market in Turkey, meaning that all equities, revenue sharing certificates, private sector bonds, bonds and bills, foreign securities, and real estate certificates are traded in the ISE. There is only one securities exchange market in Turkey because of

Decree No. 32 passed in August 1989, removes all restrictions on overseas institutional and individual investment in securities listed on the Istanbul Stock Exchange. Hence, the Turkish stock and bond markets are open to foreign investors, without any restrictions on the repatriation of capital and profits. Decree No. 32 also allows Turkish citizens to buy foreign securities (www.ise.org/members/portfolio.htm ). The ISE is also a self governing professional autonomous organization. Even though the ISE is a self governing organization, the Capital Market Board of Turkey also known as the CMB is responsible for regulating and supervising the securities markets in Turkey (http://www.ise.org/about/organize.htm).

Although Turkey has a strong gold exchange market and a well developed equities market, according to the Wall Street Journal and the Heritage Foundation (http://www.heritage.org/research/features/index/index.cfm), Turkey has an financial freedom index of only 50 percent and their overall economic freedom is a low 59.3 percent, ranking them the eighty-third freest economy in the world.

Cited January 30-31, 2003, http://www.lbma.org.uk/forums/3e.SerefLBMAND2003.pdf,Midhat Seref, President and Chairman of the Board, The Istanbul Gold Exchange [[Category:*Turkish Two Exchange Markets]]

http://www.heritage.org/research/features/index/country.cfm?id=Turkey