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Türkiye Anticipates Surge in Foreign Investments Post-Election

Turkish Treasury and Finance Minister Mehmet Simsek. (The minister’s account on X)
Turkish Treasury and Finance Minister Mehmet Simsek. (The minister’s account on X)
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Türkiye Anticipates Surge in Foreign Investments Post-Election

Turkish Treasury and Finance Minister Mehmet Simsek. (The minister’s account on X)
Turkish Treasury and Finance Minister Mehmet Simsek. (The minister’s account on X)

Türkiye expects a substantial increase in international investments, notably in mergers and acquisitions, after the upcoming March 31 elections.
Turkish Treasury and Finance Minister Mehmet Simsek has anticipated a substantial surge in foreign investments and capital flow into the country in the aftermath of the upcoming local elections, slated for March 31.
Asserting that Türkiye currently stands near the lowest volatility range of exchange rates among developing nations, Simsek underscored on Saturday in statements to the press the importance of maintaining macroeconomic stability, particularly price stability, as a key strategy to bolster long-term growth potential.
Between June and September, Türkiye witnessed a favorable shift in capital flows, recording an inflow of $4.9 billion, a stark contrast to the flow of $2.9 billion during the initial five months of the year.
The public and private sectors have remarkably enhanced access to global market financing.
Furthermore, the Turkish bond index has exhibited a robust performance compared to other developing nations.
Simsek also brought to light that Türkiye’s foreign currency reserve accumulation peaked at $98.5 billion in May, marking an increase of approximately $36 billion.
This signifies the highest reserve level since 2014, which stood at $134.5 billion. The demand for Turkish Lira loans continues to be high, despite the limited requests for foreign currency loans.
Simsek expressed his belief that the demand for Turkish assets will notably grow in the upcoming months, especially post-election.
In addition to this, the minister unveiled plans to partially finance reconstruction efforts in regions impacted by the February 6 earthquake. This will be achieved through the issuance of long-term special bonds with a 10-year maturity, priced within standard market rates.
Simsek rounded off the discussion by addressing the reevaluation of tax exemptions for corporate deposits protected from exchange rate fluctuations, which are set to expire on June 30, 2024.
He also touched upon the ongoing normalization of monetary policy, which could potentially eliminate the need for such incentives.

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Saudi Social Development Bank Surpasses $43.2 Billion in Total Financing

Prince Faisal bin Bandar bin Abdulaziz during the launch of “Jada 30” at the Social Development Bank’s 53rd anniversary celebration (Asharq Al-Awsat)
Prince Faisal bin Bandar bin Abdulaziz during the launch of “Jada 30” at the Social Development Bank’s 53rd anniversary celebration (Asharq Al-Awsat)
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Saudi Social Development Bank Surpasses $43.2 Billion in Total Financing

Prince Faisal bin Bandar bin Abdulaziz during the launch of “Jada 30” at the Social Development Bank’s 53rd anniversary celebration (Asharq Al-Awsat)
Prince Faisal bin Bandar bin Abdulaziz during the launch of “Jada 30” at the Social Development Bank’s 53rd anniversary celebration (Asharq Al-Awsat)

The Saudi Social Development Bank has announced that its total financing since inception has exceeded SAR162 billion (USD43.2 billion), benefiting more than 10 million citizens and playing a vital role in the Kingdom’s social and economic transformation.

The announcement was made by Minister of Human Resources and Social Development and Chairman of the Bank’s Board, Eng. Ahmed Al-Rajhi, during the bank’s 53rd anniversary celebration held on Monday in Riyadh.

The event was held under the patronage and in the presence of Prince Faisal bin Bandar bin Abdulaziz, Governor of Riyadh Region, and marked the launch of the “Jada 30” initiative.

Prince Faisal commended the bank’s achievements over the past five decades, highlighting its impact in empowering citizens and advancing national development goals in line with Saudi Vision 2030.

In turn, Al-Rajhi emphasized the bank’s ongoing commitment to supporting development pathways and empowering individuals and communities. He reaffirmed the bank’s role as a key driver of financial and social inclusion across the Kingdom.

As part of the celebration, the bank unveiled “Jada 30,” a new initiative designed to foster entrepreneurship and support small and emerging businesses. Bank CEO Eng. Sultan bin Abdulaziz Al-Humaidi described it as a strategic leap forward in enhancing the entrepreneurial environment.

“Jada 30” transforms traditional bank branches into dynamic development hubs and business incubators, aimed at nurturing a vibrant entrepreneurial ecosystem. The initiative provides a comprehensive range of services - including financing, training, and mentorship - to help entrepreneurs launch and scale their businesses.

Since its launch, “Jada 30” has hosted in Riyadh more than 300 startups and supported over 5,800 participants, underscoring its tangible impact on youth empowerment and the promotion of a self-employment culture.

The event also witnessed the signing of several key development agreements, including a partnership with the General Authority for Awqaf and the Charitable Associations Support Fund to establish a SAR50 million financing portfolio to boost the nonprofit sector.

Further, the bank signed two agreements with Arab National Bank and Banque Saudi Fransi to create a combined SAR100 million in financing portfolios aimed at supporting entrepreneurs and emerging enterprises.

Additional agreements were inked with Alinma Bank and Arab National Bank to launch a new Freelance Work Card, offering freelancers greater access to banking services and financing options.