Erdoğan warns about black money and illegal funds: They are damaging confidence in global markets

President Recep Tayyip Erdoğan sent a video message to the 64th World Federation of Exchanges General Assembly and Annual Meeting.

Erdoğan expressed his hope that the general assembly hosted by Borsa Istanbul would be beneficial.

"BORSA ISTANBUL IS PROGRESSING WITH CONFIDENT STEPS"

Erdoğan stated that Turkey is implementing a comprehensive economic program to maintain balanced and inclusive growth, strengthen production capacity, and ensure permanent financial stability. He added that the financial sector is at the center of the program and that the depth, product diversity, and accessibility of capital markets have improved.

Erdoğan stated that Borsa Istanbul is taking firm steps towards becoming the leading market infrastructure provider in Türkiye and the entire region, emphasizing that it is increasing the global competitiveness of the exchange ecosystem with digitalization, sustainable financing, and participation-based products.

"Türkiye IS READY TO SHARE ITS EXPERIENCE"

Underlining that the Istanbul Financial Center is the product of a strong vision that aims to become a hub for financial services, Erdoğan noted the following:

"- The General Assembly of the World Federation of Exchanges, held here today with representatives of valuable stock exchanges from all over the world, is important in terms of shaping the future of capital markets on the basis of common sense.

Turkey is ready to share its deep-rooted experience not only to achieve its own goals but also to ensure financial stability at the regional and global levels. We believe that capital markets should be managed not only with a profit-focused approach but also with an eye toward social and environmental impact.

BLACK MONEY AND ILLEGAL FUNDS WARNING

Money laundering, illicit fund transfers, and manipulative transactions undermine confidence in global markets. We are strengthening our international cooperation against these threats and prioritizing the development of transparency, oversight, and information-sharing mechanisms.

Another important point is that global economic inequalities require us to develop solutions that increase the inclusiveness of the financial system. The gap between the world's richest and poorest is widening, and income inequality is deteriorating more than ever.

“I believe that joint efforts under the umbrella of the World Federation of Exchanges will contribute to closing this gap.”

President Erdoğan stated that he found Borsa Istanbul's active participation in all processes and management of the Federation very valuable and expressed his hope that the meeting would be beneficial.