The Middle East

Late 2011 and early 2012 saw dramatic changes in Turkey’s capital markets, with a rebranding campaign for the Istanbul Stock Exchange – to the Istanbul Bourse (IMKB) – as well as the appointment of new leadership. The IMKB was greatly affected by economic instability elsewhere around the world, because many of the markets key investors are foreigners. Under its new leadership, the bourse is...

The Turkish banking sector learned hard lessons from the country’s financial crisis in 2001-02, and as a result, it was among the most stable and secure through the global financial crisis of 2008, remaining a safe harbour for foreign and domestic investors alike. The sector is very competitive, and profits declined during 2011 on the back of reduced margins from loans, however the stability of...

The Turkish economy rebounded from the global crisis to become an island of economic stability between Europe and the MENA region. The 15th-largest economy globally and the 6th-largest in Europe has experienced an unprecedented transformation in the past decade, as per capita GDP has risen more than three times. While the economy is plagued by a structural current account deficit, due to...

The nation’s efforts over the past decade have seen slow progress on its bid to join the EU, however, Turkey has become vastly more prominent on an international scale. While still hamstrung by the Kurdish issue, the country’s “Good Neighbour” policy has made it a key partner in engagement with Western powers. Internally, the AKP is credited with providing the stability that has ushered in Turkey...

The Country Profile contains a brief introduction to contemporary Turkey, with information about the geography, language, culture and history.