DUBAI MODEL FOR ISTANBUL FINANCE CENTER’S COMPETITON WITH THE WORLD ON ITS WAY TO BECOMING A GLOBAL FINANCIAL CENTER

Authors : Selim Tartan, Nevzat Tetik

Pages : 731-745

Doi:10.53092/duiibfd.1443986

View : 57 | Download : 174

Publication Date : 2024-11-30

Article Type : Research Paper

Abstract :Internationally recognized financial centers such as New York and London have been joined by financial centers such as Hong Kong, Shanghai, Singapore and Dubai. Istanbul Financial Center (IFC) and Dubai International Financial Center (DIFC) are very closely related in terms of their operations. This relationship is particularly evident in terms of tax advantages, easy of doing business, independent law, geographical advantage, labor quality and attracting similar investors. In this study, the competition of IFC with the World on its way to becoming a global financial center was examined within the framework of Dubai Model, current literature review and statistical data. According to Global Financial Center Index (GFCI), DIFC ranks twenty-second in the financial center world ranking and first in the Middle East and Africa. According to the same data, IFC ranks one hundred and tenth in the World ranking and seventh in Eastern Europe and Central Asia. It is estimated that IFC can achieve similar successes by taking the DIFC Model as an example.
Keywords : FINANS, IFM, DIFC, GDCI