Mehmet Ali Akben, Chairman of the Banking Regulation and Supervision Agency (BDDK), said that they are working on crypto money regulations.
Gaziantep Hasan Kalyoncu UniversitySpeaking at the opening of the “3rd International Islamic Accounting and Finance Conference” held in BRSA Chairman Mehmet Ali Akben, cryptocurrency Because the topic is new making people confused and about it Work continues to make adjustments told.
In many countries in the world, there is no regulation in this field and TurkeyHe stated that the necessary meetings were held in Akben made the following statements:
I came here from the Ankara meeting on what can be done on the digital side regarding cryptocurrency regulation. Of course, there are also studies on crypto money. Confused about this. In many countries of the world, no regulation has been made in this regard yet. What will this money replace, where will the system evolve? As always, it comes down to being cautious about something new. We use the term Islamic finance as participation finance. We have reached the final stages in the law of participation finance studies. We are talking about a banking system in our country. The share of participation banks in the sector is 8 percent, but their share in the capital is 5 percent. 10 percent on the credit side. On the side of SME loans, it is around 30 percent. There is also a savings gap in our country. We want to grow, naturally we want to provide foreign resources. Recently, we have been experiencing an inflation problem in the world, we are experiencing an energy problem. We are one of the countries most affected by this. Our expectation is to get rid of the inflation spiral soon. We have to catch alternative finance products before those who want to catch up before our age. It is of course very important to create new technologies and new investment areas in countries with a savings deficit like ours. Islamic finance is meaningless if it is a continuation of existence. It should definitely become an alternative. There’s a big cake here. There is great competition. There is a larger group opposite.