TOBB President Hisarcıklıoğlu Emphasized Finance and Peace in Diyarbakır
Speaking at the meeting in Diyarbakır, TOBB President Hisarcıklıoğlu requested that the Central Bank's interest rate cut be reflected in commercial loans and called for the elimination of collateral injustice in eastern provinces.
Rifat Hisarcıklıoğlu, President of the Union of Chambers and Commodity Exchanges of Turkey (TOBB), emphasized the contribution of the peaceful environment in the region to commercial development at the Business World Finance Meeting held in Diyarbakır, and voiced the real sector's problems of access to finance and high interest rates.
The Relationship Between Peace and Commerce
Speaking at the meeting held in partnership with the Diyarbakır Chamber of Commerce and Industry, Diyarbakır Commodity Exchange, and Diyarbakır Organized Industrial Zone, Rifat Hisarcıklıoğlu touched upon the importance of the environment of peace and security in the region. Hisarcıklıoğlu stated that trade cannot happen without an environment of peace, and wealth cannot happen without trade.
Access to Finance and Interest Rates
At the meeting attended by general managers of public banks and business world representatives, it was stated that the biggest problems of the real sector are the difficulty in accessing finance and high interest rates.
Stating that he found the 3-percentage-point cut made by the Central Bank by reducing the policy rate from 40 percent to 37 percent positive, Hisarcıklıoğlu emphasized that banks should quickly reflect this cut in commercial loans as well.
Demand for Justice in Collateral Valuation
The TOBB President reacted to the lower valuation of real estate collateral in eastern provinces compared to western provinces. Hisarcıklıoğlu called for this unjust situation, which causes grievances for business people in the region, to be corrected as soon as possible.