“Capital Markets Workshop”, aimed at allowing Turkish capital markets and finance markets actors to share their experience with their Bosnian counterparts, was held jointly by Sarajevo Stock Exchange (SASE) and İstanbul Menkul Kıymetler Borsası (İMKB) in Sarajevo on June 28, attracting top executives from both markets.
The Workshop brought together the top executives of the Capital Markets Board of Turkey (CMB), İMKB, İMKB Settlement and Custody Bank (Takasbank), Central Bank of Turkey, and Undersecretariat of Treasury, the Association of Capital Market Intermediary Institutions of Turkey (TSPAKB), Central Registry of Turkey (CRA), with their Bosnian counterparts as well as officials from the Ministry of Finance of Bosnia and Herzegovina (Federation BiH).
The keynote speeches of the Capital Markets Workshop were delivered by Mr. Ante Krajina, Minister of Finance of Federation BiH, Mr. Matej Živković, Member of Securities Commission of Federation BiH, Mr. Kemal Kozarić, Governor of the Central Bank of Bosnia and Herzegovina, Mr.Tarik Kurbegovic, CEO of SASE and Mr. İbrahim M. Turhan, İMKB Chairman & CEO. The first panel session, moderated by Mr. Mustafa Baltacı, İMKB Executive Vice Chairman and Secretary General of the Federation of Euro-Asian Stock Exchanges (FEAS), discussed the equities market fundamentals. During the session, Mr. Mustafa Gümüş, CMB Head of Department, and Mr. Aydın Seyman, İMKB Executive Vice Chairman, delivered presentations on the development of Turkish capital markets, as well as the improvement of the investment culture and corporate governance in Turkey. Mr. Matej Živković, Board member of the Securities Commission of Federation BiH, and Mr. Almir Mirica, Executive Director of SASE made an evaluation of the challenges faced and successes enjoyed by SASE.
Following the first panel, a press conference was held with the participation of Mr. İbrahim M. Turhan, İMKB Chairman & CEO, Mr. Mustafa Baltacı, İMKB Executive Vice Chairman and Secretary General of the Federation of Euro-Asian Stock Exchanges (FEAS) from the Turkish side, and Mr. Ante Krajina, Minister of Finance of Federation BiH, and Mr.Tarik Kurbegovic, CEO of SASE, from the Bosnian side. Mr. Krajina expressed their pleasure for Turkey’s close interest in Bosnia and Herzegovina and pointed out that they expected İMKB, the region’s largest securities exchange, to contribute to SASE. Mr. İbrahim M. Turhan said that İMKB is always open to regional cooperation, and therefore, would be pleased to support any cooperation proposals from SASE.
The second panel session was entitled “Fixed Income Market”. The speakers and the titles of their presentations are as follows: Mr. Tolga Yücel, Head of Department at the Undersecretariat of Treasury, “Government Bonds: Principles, Issuance and Liquidity”; Mr. Günay Yeşildoruk, Executive Director of Markets Department of the Central Bank of Turkey, “Role of Central Banks in Fixed Income Market”; Mr. Reşat Adıgüzel, Senior Expert of iMKB, “İMKB's fixed income and repo markets are one of the global leaders. How has this happened and what are the lessons to be learned?”; and Mr. Samir Bakić, Deputy Minister of Finance of Federation of BiH “Bosnian Government Borrowing Policies and Developing a Debt Securities Market on SASE”.
İMKB, İMKB Settlement and Custody Bank (Takasbank) and Central Registry of Turkey (CRA) each acquired shares of 5 percent of SASE shares last June, making the three Turkish organizations one of the largest shareholders of SASE with a total stake of 15 percent.