Politics
Top Arab banking official says Arab world wants to increase investment in Türkiye
(MENAFN) Wissam H. Fattouh, Secretary General of the Union of Arab Banks, highlighted Turkey's growing appeal as an investment destination for the Arab world, citing its G20 membership and economic status in development.
Speaking to a Turkish news agency during the Arab International Banking Summit in Istanbul, Fattouh highlighted the keen interest of many Arab investors in establishing relationships with Turkish banks. The summit, held under the auspices of President Recep Tayyip Erdogan, drew attention to the strong trade and investment relations between Turkey and the Arab world.
Fattouh highlighted the advanced state of the Turkish banking sector, particularly in terms of technology and digital banking, positioning it as an attractive partner for collaboration and investment. He highlighted the importance of leveraging Turkey's banking expertise, with delegations from the Arab world actively engaging with Turkish banks to explore potential opportunities.
Highlighting the Iraq-Turkey Development Road project as a crucial initiative, Fattouh highlighted its potential to generate employment opportunities and reshape trade dynamics. The project holds promise for fostering economic growth and strengthening ties between Turkey and its regional partners.
Regarding reports that Emirati bank First Abu Dhabi Bank (FAB) was considering the acquisition of Turkish private lender Yapi Kredi, Fattouh highlighted the abundance of investment opportunities in Turkey. He noted that FAB's interest in Yapi Kredi highlights Turkey's appeal as a lucrative investment destination, with the country's dynamic economic landscape attracting interest from leading regional players like FAB.
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