Business

Turkish fintech firms, participation banks meet Qatari investors

Annual fintech investment in Turkiye reached $64M in 2021, Turkish official tells webinar

Turkish fintech companies and participation banks met Qatari investors during a webinar this week.

The virtual event was organized by the Finance Office of the Presidency of Turkiye and the Qatar Financial Center on Feb. 23-24.

The webinar, FinTech and Digital Participation Banking: Turkish Solutions and Opportunities in Qatar, had more than 300 participants, the Finance Office said in a statement on Friday.

Speaking at the event, Necip Fazil Kaymak, vice president of the Finance Office, highlighted the creative and innovative solutions developed by Turkish fintech firms, along with the cooperation opportunities between Qatar and Turkiye.

Annual fintech investment in Turkiye increased to $64 million in 2021, Kaymak said.

Murat Ali Cengelci, vice president of the Finance Office, said Turkiye is aiming is to double its share of participation banking from 7.2% in 2020 to 15% by 2025.

He praised Turkish participation banks for actively embracing new developments and technologies.

Underlining the importance of forming business partnerships,Cengelci said Turkiye has immense potential in both participation finance and fintech.

The Finance Office plans to hold webinars with other countries and support the internationalization of Turkish fintech and participation finance ecosystems, the statement said.

Source
AA

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