Turkic nations set to cooperate in fintech business

ISTANBUL

The head of Türkiye’s Finance Office, Göksel Aşan.

Türkiye aims to develop institutional infrastructure and financial technologies (fintech) across Turkic nations, the head of Türkiye’s Finance Office told state-run Anadolu Agency.

A signing event for the Turkic fintech cooperation platform was held in Istanbul this week with the participation of representatives from Azerbaijan, Kazakhstan, Kyrgyzstan and Uzbekistan.

Göksel Aşan, the office’s head, said this new addition to already ongoing cooperation efforts among Turkic nations would “reinforce the unity” among the countries.

Aşan said some Turkic nations are not up to par when it comes to fintech, and it is important to share Türkiye’s progress with them, as he said an ease of transactions across Turkic states is needed.

“The more we can increase transactions and cooperation between ourselves, the more we will bring the Turkic world together,” he said.

Ufuk Bilgetekin, who chairs Türkiye’s Payment and Electronic Money Institutions Association (TODEB), said Türkiye has a powerful infrastructure, as well as innovative fintech solutions.

“Our aim is to orchestrate more such events and seminars, and focus on building standardized licenses, gathering all the fintech operation structures among five Turkic nations under a single ecosystem to become a key player in the global fintech industry,” he said.

“Türkiye is ahead of many European and other nations and now we’re working at full speed with other Turkic nations to make Türkiye’s fintech ecosystem a hub,” he added.

To do that, Bilgetekin said the group will attend the Singapore FinTech Festival in November with 11 member organizations to showcase Türkiye’s fintech ecosystem.