Category Archives: Events

Annual Islamic Economic and Finance 2015 Symposium has been held

Symposium Group Picture Cropped

The two-day Islamic Economic and Finance 2015 Symposium ended yesterday. The Symposium was organized by the World Bank Group`s Global Islamic Finance Development Center (GIFDC) in partnership with Borsa İstanbul, Islamic Development Bank (IDB), Islamic Research and Training Institute (IRTI), and Guidance Financial Group at Boğaziçi University. The symposium brought together a broad range of participants from the academia, policy-making circles, and the private sector.

The Annual Islamic Economic and Finance 2015 Symposium was held by the World Bank Group Global Islamic Finance Development Center (GIFDC), Borsa İstanbul, Islamic Development Bank (IDB), Islamic Research and Training Institute (IRTI) and Guidance Financial Group.

The symposium brought together a broad range of participants from the academia, policy-making circles, and the private sector. The Symposium’s objective is to become a major international forum engaged in thought leadership and knowledge development in this field.

The inaugural symposium, “Islamic Finance: A Catalyst for Shared Prosperity,” was held at Boğaziçi University Albert Long Hall.

Symposium

The keynote speakers at the two-day Symposium were World Bank Group`s Global Islamic Finance Development Center (GIFDC) Head Dr. Zamir Iqbal, Borsa İstanbul Chairman Dr. Talat Ulussever, Islamic Research and Training Institute (IRTI) Director General Prof. Mohamed Azmi Omar, Guidance Financial Group Chairman Dr. Mohamad Hammour, and Boğaziçi University Center for Applied Research in Finance (CARF) President Dr. Ali Coşkun.

Speakers in the Symposium included Dr. Andrew Sheng, Prof. Dr. Abbas Mirakhor, Dr. Muhammed Umer Chapra, Prof. Hossein Askari, and Prof. Dr. Murat Çizakça.

Luqyan Tamanni from University of Glasgow was the winner of Best Paper Award for the Inaugural Annual Symposium on Islamic Economics and Finance with his paper entitled “Islamic Microfinance Institutions: Pro-poor or for profit?” co-authored by Frank Hong Liu.

Boğaziçi University Center for Applied Research in Finance (CARF) was the venue sponsor of the event while Anadolu Agency and Islamic Finance News (IFN) were media partners.

Investors First Summit

bannerinvestor

Investors First! Summit was held by CARF and CFA Society Istanbul in Boğaziçi University Albert Long Hall on 29 May 2015.

CFA Institute defines the main aim of this concept: “While the idea of putting investors first is simple and straightforward, in practice it can be difficult, and conflicts of interest abound. We recognize these challenges and seek to provide guidance on how to manage them. Clear and objective standards like the CFA Institute Code and Standards provide a foundation, and we are committed to promoting debate and discussion to move the industry forward and address complex matters.

With this work there are two important stakeholders: the financial services professionals that serve customers, and the customers themselves. For both groups we endeavor to provide resources to ensure that the future of finance is bright for everyone.”

Also CARF (Center for Applied Research in Finance) announced the first feedback of the pilot study “Investment Trust Survey” in this summit which includes key indicators for the players of the investment markets and the trust of investors.

News about the survey: http://www.finansgundem.com/gundem/iste-turkiye-yatirimci-guven-anketi-680365.htm

Yatırımcı Güven Araştırması2

investorsfirst2

Entertainment Economy Summit

Eğlence Ekonomisi Zirvesi2

Leaders of Entertainment Sector and Opinion Leaders were at Boğaziçi University on May 11 to 12.

For the first time in the 150 years old history of Boğaziçi University, the industry’s leading companies and names were hosted in the University’s South Campus building, Albert Long Hall at the first Entertainment Economy Summit in Turkey by the Faculty of Economics and Administrative Sciences and CARF (Center for Applied Research in Finance).

The summit was held with the support of IMG, Pozitif, Kitchenette and  Günaydın and funding process, organizational processes and branding in the entertainment industry were discussed by happy consumers’ sector leaders and the real professionals in the Entertainment Sector.

For the detailed information (Turkish);

http://www.eglencezirvesi.com/

`VIOP AKADEMI` Was Held

cropped-carf-büyük-logo.jpg

Two day long VIOP Akademi training program, organized by Center for Applied Research in Finance founded with the collaboration of Borsa Istanbul and Bogazici University, was held on September 13-14th at Bogazici University Laboratories.

Participants were given theoretical information and practical examples about `VIOP AKADEMI` trainings and VIOP.

During the `AKADEMI` aimed at people who are willing to pursue a career in finance or who are currently working at financial markets, trainings were given by Vedat Akgiray, former president of SPK and lecturer at Bogazici University, Cenk Karahan, assistant professor at Bogazici University, Emrah Sener, assistant professor at Ozyegin University, Osman Yilmaz, portfolio manager at HSBC and Umit Yilmazcan, derivative products manager at Deutsche Securities.

Cetin Ali Donmez, vice president of Borsa Istanbul noted that :

`As Borsa Istanbul, we are working on increasing the knowledge of investors and employees. With the VIOP AKADEMI program organized in that context, we offered a detailed and practical trainings to the participants. We thank Bogazici University for their support while realizing this program.  We`ll continue our studies during the following years.`

Borsa Istanbul Group Manager Muammer Cakir who pointed out that VIOP is a relatively recent market in Turkey stated that:

`For that reason, as Borsa Istanbul VIOP, we attribute utmost importance to increasing the level of financial literacy. By realizing such a detailed program as VIOP Akademi along with the cooperation agreement signed with OIC (Options Industry Council) on options trainings, we took our efforts about this issue a step further.`

Ali Coskun, Director of CARF told that:

`Within the scope of VIOP AKADEMI program both academics and professionals have shared their experiences with participants.  Participants were conveyed theoretical and practical information in detail. We are pleased to be partners with Borsa Istanbul VIOP in such an educational organization. We`ll continue to realize such events with them for contributing to finance sector.`

During the two day long intense program, participants were informed in detail about `Derivatives Market(VIOP)`, `Pricing on Futures Market`, `Options Pricing Modelling`, `Options Valuation and Strategies`, `Volatiliy`, `VIOP and Portfolio Management` and `Derivatives with a Professional Approach` . At the end of the trainings participants were given a VIOP AKADEMI certificate by CARF.

Borsa Istanbul Organized And Held A Training For Stock Market Reporters On Derivatives Market(VIOP)

muhabir-egitimi

The second one of the training series , that the first one was about “Equity Markets”, organized for stock market reporters by Borsa İstanbul was carried out under the title of “Derivatives Market”.

Center for Applied Research in Finance, founded with the collaboration of Bogazici University and Borsa İstanbul, hosted a “Derivative Markets Training” as part of the training series for stock market reporters with the contribution of Association of Economy Journalists on April 18th, 2014.

Cenk Karahan, Assistant Professor at Bogazici University, gave a lecture to participants about “financial derivative products, differences between spot and derivatives market, use of derivatives market, basic principles of derivatives market(VIOP).

Muammer Cakir, group manager of VIOP at Borsa Istanbul , informed the participants about `Financial Derivatives Product Market, what is VIOP, products operand at Borsa Istanbul VIOP, currency options as a new product at VIOP, access to VIOP data`.

Four trainings entitled `Equity Markets`, `VIOP`, `Debt Securities Market`, `Precious Metals and Diamonds Market` will continue with courses on April 25 and April 30 at Borsa Istanbul.  Media associates who attend all trainings will receive a `Stock Market Reporter` certificate.

6th International Islamic Banking and Finance Conference Held

6-islami-bankacilik-konferansi

     6th International Islamic Banking and Finance Conference was hosted by the Islamic Research and Training Institute, Islamic Development Bank, Borsa İstanbul and Boğaziçi University Center for Financial Applications and Research (CARF) with the support of the Central Bank of the Republic of Turkey and the World Bank Global Islamic Finance Development Center at Boğaziçi University on September 16-17, 2014.

     6th International Islamic Banking and Finance Conference which brought together the global actors of the world of finance was realized with the main theme of “Risk Management, Regulation and Audit”. The Conference discussed the development of Islamic finance, designing new products, and the research on this field, as well as the current status of the global world of finance, risk management problems and regulation and audit.

The Conference was opened by Borsa İstanbul Chairman& CEO Dr. İbrahim M. Turhan, Boğaziçi University member of staff and former Chairman of the Capital Markets Board of Turkey Prof. Vedat Akgiray, and Islamic Research and Training Institute Head of Research Division Professor Abdul Ghafar İsmail and was participated by distinguished academicians and professionals from all over the world.

In his opening speech, Borsa İstanbul Chairman & CEO Dr. İbrahim M. Turhan said that the 6
th Islamic Banking and Finance Conference hosted by Borsa İstanbul with the main theme of “Risk Management, Regulation and Audit” should be evaluated as an opportunity for the sector, adding that Borsa İstanbul is pleased to be part of such important events that will lead to the development of the sector.

Touching upon Borsa İstanbul’s studies on interest-free financing and the importance of risk management, Dr. İbrahim M. Turhan said, “Borsa İstanbul attaches great importance to interest-free financing. Currently, we have an efficiently operating sukuk market within the Debt Securities Market. On the other hand, the operations of the Equity Market, by nature, are in full conformity with interest-free financing which is based on risk and profit sharing, provided that the required conditions are set in place. We brought together 19 states that are members of the Organization of Islamic Cooperation back in 2012, and created the S&P OIC COMCEC 50 index consisting of 50 companies that fulfill the requirements. Our efforts in this field continue.

In this event, we will focus on risk management, regulation and audit, which have gained importance along with the development of interest-free finance. Currently, we have instruments for managing, controlling and measuring credit and operational risks. However, we clearly need new ideas and instruments especially for liquidity risk management in the sector. We have developed a framework for three-party repo transactions in order to facilitate the liquidity management of interest-free financial products. We believe that such financial instruments will increase liquidity, while granting the regulators and central banks a firmer position. I am confident that this Conference will be an important opportunity in developing innovative approaches in the sector”.

On the first day of the 6th International Islamic Banking and Finance Conference, a session entitled “Medium-Term Evaluations for 10-Year Strategies” following the opening speeches was held. “Basel 3 and Islamic Finance”, and “Problems in Risk Management, Regulation and Audit” were the other sessions of the first day. On the second day of the Conference, sessions entitled “Risk Management Instruments and Risk Analysis Modeling”, “Pricing and Quantifying Risk”, “Factors that influence Risk Management in Islamic Banking”, and “Latest Findings and Thoughts on Risk Management” were held.

Following the two-day Conference, Islamic Finance Risk Management Industry Consultation Forum was held on September 18, 2014. The Forum was sponsored by Global Association of Risk Professionals (GARP). Sessions entitled “Islamic Finance Risk Management” and “Development Stages of Risk Management” were organized during the Forum.

IFN Turkey Forum 2014

IFN

Hosting a Roadshow in Turkey needs no explanation. With 70 million Muslims, a growing participation banking sector, numerous external financial service providers, and now a government showing its commitment to growing the Islamic finance industry through several big ticket Sukuk issuances over the last few years, Turkey is perhaps the most vibrant of markets in the industry today. 2013 saw major issuances by Albaraka Türk, Kuveyt Türk and the Turkish Treasury, while major conglomerates such as Agaoglu Group have come to the forefront of the Islamic project finance and capital market space.

First held in 2009, the IFN Roadshow in Istanbul has continued to develop and mature. Hosted and held at Borsa İstanbul, a body which has been instrumental in creating traction in Islamic finance within the Turkish market, the 2013 event witnessed over 200 senior industry practitioners attend from 15 countries. In 2014, with more support than before, we expect audience numbers to increase yet again. The IFN Turkey Forum is the go-to event for those looking to breach the Middle East and European markets.

Agenda

“Borsa Akademisi” Was Held

cropped-carf-büyük-logo.jpg

120 participants attended the event which is organized in fall 2014

Instructors:

İMKB to Borsa İstanbul Transformation Period, Nihat Gümüş

BIST Participation and Guarantees, Barış Ersoy

Quotation, Public Offering and Listing, Alev Dumanlı

Capital Markets in Turkey, Orhan Erdem

Equity Market, Ahmet Cedimağar

Derrivatives Market (VIOP), Muammer Çakır

Debt Securities Market, Ercan Kıran

Yapı Kredi Banking Academy Was Held

cropped-carf-büyük-logo.jpg

100 participants attended the event which is organized in fall 2014

Instructors:

Serkan Ülgen, Individual Banking & Card Payment Systems, EVP

Mert Öncü, Treasury and Financial Institutions, Assistant General Manager

Hale Tunaboylu, Head of Project and Structured Finance

Cihangir Kavuncu, Human Resources and Organisation, Assistant General Manager

Nurşah Kayak, Head of Operational & IT Risk Audit

Galip Berker, Head of Basel 2 Management

“Globalisation of Islamic Financial Services and Searching for their Hubs through Intra-firm City Networks” By Dr. Abul Hassan & Dr. Talat Ulussever

cropped-carf-büyük-logo.jpg

Abstract:

Islamic financial services (IFSs) sector which is rapidly developing in the Middle East cities as well as growing in the South East Asian cities like Kuala Lumpur and Jakarta; and notably in the mainstream International Financial Centres (IFCs) such as London and New York. Currently these cities are said to be the ‘command and control’ centres of the global economy because they harbour advanced producers services (APS) firms which need to manage increasingly complex production networks. This paper draws an analysis of rapidly expanding IFSs sector through a study of how cities are being connected through the intra-firm networks which provide Shari‘ahcompliant financial services. It is argued that a focus on the globalisation of Islamic financial services (IFS) sector may provide an alternative to hegemonic imaginations of world city-formation through its focuses on globalising economic process. The relevance of such analysis is discussed against the conceptual backdrop of the world city network literature. Based on information on the location strategies of 27 leading IFS firms in 47 cities across the world and employing the methodology on ‘globalisation and world city network’ (GaWC), the results show that globalisation within the Muslim world follows a unique urban trajectory, thereby creating a network of powerful cities. The results also show that Middle East is at the apex of the IFSs sector and Manama is identified the hub of the IFS sector which other major cities such as Amman, Dubai, Doha, Jeddah, Karachi, Kuala Lumpur and Kuwait and Riyadh etc. are also primary nodes in the city network. Outside the Muslim world, London is increasingly profiling itself as a global Islamic financial service (IFS) hub.

Date: June 27th, 2014 (Friday)
Time: 10:30 – 12:00
Venue: Boğaziçi University Washburn Hall IB204 (İdari Bilimler Binası)