Strategy for participation finance unveiled

ANKARA

The participation finance strategy, covering 2022-2025 that is a road map to position Türkiye as the leading country in participation finance, has been unveiled.

The Participation Finance Strategy Document (PFSD) was published in the Official Gazette on Oct. 5, said the Presidential Finance Office in a statement.

“As participation finance is one of the pillars of the İstanbul Financial Center, the PFSD was prepared for objectives of operating in compliance with the tenets of participation finance, creating viable and realistic solutions to various structural problems, reaching its deserved place in the financial system and effectively supporting the Türkiye Economy Model,” it said.

In relation to the PFSD, it is aimed to determine the action items that will put the work in the field of participation finance carried out between 2022-2025 on a common ground, and the mechanism of the coordination board and groups to manage the implementation, follow-up and evaluation processes of these action item, it added.

The strategy document was designed around five main goals and a total of 18 concrete objectives. These strategic objectives include realizing institutional transformation, establishing supportive mechanisms, forming a holistic “fiqhi” governance structure, ensuring the development of human capital and increasing positive perception, awareness and participation financial literacy.

Within the scope of these strategic objectives, 84 action items were determined.

The PFSD Coordination Board will be established in order to ensure the coordination between institutions and organizations in the implementation of the action items in the PFSD and for high-level assessment of the feedback from the Action Plan Implementation and Monitoring Groups, according to the statement.