TCMA ANNUAL REPORT 2018

Overview of 2018 In order to achieve these targets, we kept representing the sector in the most efficient manner through even more proactive efforts by our Association. To this end, we set up task forces for headings that we considered to be crucial for the development of the sector. We have considered Istanbul International Financial Center (IFC) as the top priority of all of these initiatives so that our market would be vested in a competitive structure, establish itself firmly on the global arena, and become a center of attraction. We extended support to all related efforts and projects through every step of the way. We voiced the need for creating a competitive and attractive financial ecosystem at every opportunity we got. We did, and will continue to, give support for the realization of various initiatives including the elimination of tax-related incompatibilities, establishment of specialty courts, expanding the prevalence of interest-free finance, and improvement of investor rights. In these efforts, our Association focused on acting jointly with our stakeholders and communicating our efforts to broader audiences. In keeping with this goal, and within the frame of our Association’s roadmap, we held monthly meetings participated by the Association’s officials and representatives of the Borsa Istanbul Group comprised of Borsa Istanbul, Central Registry Agency (MKK) and Istanbul Clearing, Settlement and Custody Bank Inc. (Takas Istanbul). In these meetings, we worked towards strengthening the relations between the Association members and the sector professionals so as to vest our market in a more competitive structure, establish our market on the global platform and make sure that the IFC project comes to life. We Have Submitted our Reports Prepared with the Common Mind to Regulatory Agencies and Shared them with the Public As TCMA, we firmly believe that we need to have a strong and healthy capital market for a strong and healthy Turkey. In this direction, we concentrated on our initiatives at the TCMA and across the sector. In common wisdom meetings attended by the entire sector, we devised concrete recommendations for further developing our capital market, which we compiled in a report and presented to regulatory agencies. Our report covered 43 recommendations categorized under 5 main headings. The most fundamental one among them was designating our capital market, which offers both financing and risk management instruments, as the strategic sector and owning it at the highest level. Our vision was supported by Berat Albayrak, T.R. Minister of Treasury and Finance, who stated that “for healthy growth, the burden of financing needs to be distributed in a much more balanced manner between money markets and capital Distinguished Members, Turkish Capital Markets Association (TCMA) takes on an important mission to help thrive our sector. In a bid to duly perform this mission, we have initiated work in various areas to determine our roadmap upon taking over the duty. Our priority topics were defined as broadening the investor base, undertaking necessary initiatives to evolve Istanbul into a globally competitive financial center, contacting the related authorities about the sector’s current issues (distance contracts being disallowed, lack of access to central databases, high costs, and the like), expanding our institutional investor base and investing the funds created therefrom more heavily in the capital market in a healthier manner, increasing recognition of the capital markets by the public, utilizing the accumulated funds at the Investor Compensation Center for driving the capital market further, and making contacts to develop the “investment institution” business model. We have submitted our reports prepared with the common mind for the development of capital markets to our regulatory agencies and shared them with the public. 16 TCMA 2018 ANNUAL REPORT