ANKARA
Türkiye has unveiled its first national strategy for equity financing in 2022-2025 with the aim of strengthening the country’s position in international financial markets.
The Participatory Financial Strategy Paper (PFSD) 2022-2025 was gazetted on Oct. 5, according to a statement from the Presidential Finance Office on Thursday.
The roadmap aims to position Türkiye as a leading country in participatory finance by implementing an inclusive, sustainable and innovative participatory finance system that operates in accordance with the principles of participatory finance and considers goal-oriented principles.
The document “was prepared with the aim of operating in accordance with the principles of participatory finance, creating viable and realistic solutions to various structural problems, attaining its deserved place in the financial system and effectively supporting the Turkish economic model,” says the declaration.
The strategic document was designed around five main objectives: to achieve institutional transformation, establish support mechanisms, form a holistic governance structure of fiqh (Islamic jurisprudence), ensure human capital development and promote positive perception, awareness and the financial literacy of participation.
Towards these strategic objectives, 84 action items were determined.
A Participation Financing Strategy Paper Coordination Board will be established to ensure coordination between institutions and organizations in the implementation of the Action Items in the PFSD and for high-level feedback assessment of the Plan Implementation and Monitoring Teams of action.
The members of the board, which will meet under the chairmanship of the Presidential Finance Office, will be composed of executive leaders from institutions and organizations directly related to the PFSD and will meet at least every four months.
In addition, the Action Plan Implementation and Monitoring Teams, composed of representatives of responsible and relevant institutions and organizations, will be formed for the realization of the strategic goals and objectives of the PFSD. These groups will meet every three months.
“As the Finance Office, we aim to find realistic and applicable solutions to the structural problems of the participatory finance system and to build a financial structure that will contribute to Türkiye’s financial independence, strong, sustainable and inclusive growth, with the roadmap outlined under the PFSD,” he said.
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