TCMA ANNUAL REPORT 2018

the capital markets. We are anticipating such activities to contribute to increased number of investment instruments and types traded on the capital markets in the future. Moreover, we are of the opinion that our Mortgage Finance Institution suggestion will serve to the securitization of loans through a customized structure based on scale economy. 2019 will be Marked as a Year of the Capital Market’s Increased Share in the Pie We believe that 2019 will see the simplification of the capital market legislation, provision of taxation incentives for revenues derived on capital market instruments, redesigning of the private pension system architecture, investment of savings through the capital market, and introduction of incentives for increasing the capital market’s share in the financing of the manufacturing industry. Accordingly, we have proactively set up task groups formed of sector professionals and we have taken steps to convey healthy information to public decision-makers in relation to the incentives and measures to be adopted. We believe that implementation of incentives and measures for deepening our capital market together with the İstanbul International Financial Center vision will serve to create a competitive and attractive financial ecosystem where national and foreign investors will be able to invest their savings, our manufacturing industry will have easier access to longer-term, lower-cost funds, and thus, contribution will be lent to consistent growth of the national economy. The future holds two crucial years during which capital markets will deepen. If we are talking about a healthy system, development of capital markets is of particular significance. We are expecting the incentives and measures that will pave the way for the thriving of the capital market will be taken under the leadership of the T.R. Presidency in 2019. With the adoption of the capital market as the strategic sector, we are wishing that robust steps will be taken to increase its share in financing. Distinguished Members, Since we have taken office in May 2018, we have worked with the target of strengthening our capital markets. My colleagues on the Board of Directors and I firmly believe that the steps we will be taking throughout our term of office will take us further in achieving this target. We will continue to collaborate with all stakeholders in order to make our country an international financial center. We hope that we will create a stronger capital markets ecosystem in the future with the support of our stakeholders. Since, we are among the world’s 20 largest economies; we believe that to bring the capital markets to its deserved level should be among our priority targets. I would like to take this opportunity to thank all our stakeholders and primarily the CMB and Borsa Istanbul for their unwavering support, you, our esteemed members, for your continued trust and support, my colleagues who have served on our Boards of Directors and Boards of Auditors, and the valuable employees of our Association. Yours sincerely, Erhan TOPAC Chairperson 21 TCMA 2018 ANNUAL REPORT