Financial solid capital structure of Turkish banks allowed sectors

Financial services role in the development and growth of economics is fundamental, as they provide credit instruments, financial products and services. Most developing countries depend on imports in which countries borrow financial services from other countries, therefore, leading to large external debts. However, some countries are unable to repay these debts and that causes a harmful economic downfall. Also, when a country is in an economic crisis inflation increases which leads into a higher interest rates. In 1973, Oil Crisis affected developing countries since they were relying on oil imports and the demand of oil was greater, however, oil prices increased and these developing countries couldn’t afford it any longer which led to high external debt in the 1970s. Turkey’s financial services increased rapidly across the last 3 years, as it became an attraction for foreign direct investment ( FDI ) . Mostly depending on banking , Central Bank, insurance & Pension, and other financials sectors such as BIST capitalization, securities, consumer finance, real estate investments, investments trusts, assets management and venture capital investment true assets. Turkey realizes the importance of accessing various financial system as that ensures that economic growth. By expanding loan base and favorable liquidity conditions, it will contribute to a great growth in financial services, and by providing new products by banks the consumer loan dramatically increases, in addition, strengthening the solid capital structure of Turkish banks allowed sectors to grant high profits. In 2016, the rapid and strong growth of Turkish banks reflected in profits exceeding TL 38 billon. Turkey appreciates the financial assistance by the EU. Since Turkey’s population consists of over 3.7 million Syrian Iraqis, Afghans, Iranians, and Somalis among others, the EU implemented projects in action under the €3 billion Facility to support refuges and host communities in close cooperation with Turkish authorities during 2016 and 2017, in addition, the Facility is funded by EU budget and contributions of Member States

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