President Erdoğan noted:
“Every assault against Türkiye has been carefully planned with an economic dimension. During times when the Turkish economy lacked depth, such attacks were much easier to execute. The crises of 1994 and 2001 were triggered by just a few billion dollars in speculative maneuvers."
He stated that from 2003 onward, similar strategies were attempted repeatedly, aiming to destabilize Türkiye through its stock markets, currency, and interest rates. He added:
“They tried every method to block our major projects, including tightening credit. But now, the world should understand—this is not the Türkiye of the past. Our economy has grown immensely in volume and strength, yet the attacks persist. Our nation is aware of these games and is defending its economy as a matter of national independence and future."
He continued by pointing out that as Türkiye resists and fights back, the scale of the attacks increases.
“Recently, we’ve seen currency manipulation used as a weapon against us. Let them come—we will continue to develop our alternatives. There’s no economic logic behind such volatility in exchange rates. We have the capacity to withstand these attacks, but our challenge remains in not reacting quickly enough. Delays in institutional response have contributed to fluctuations that hurt public morale."
“We Must Respond with Bold, Strategic Action”
President Erdoğan stressed that Türkiye will overcome its current economic challenges not through defense, but by going on the offensive:
“Our roadmap is clear: the 2023 targets. If we face difficulties in exports, we must explore new markets, new products, and high-value goods to reach our $1 trillion foreign trade goal. If growth falters, we must boost production, enhance technology, and encourage investment—paving the way to become one of the world’s top 10 economies."
He emphasized that real economy, not just financial instruments, must be the focus:
“Viewing the economy solely through financial lenses is shortsighted. Real economy is vital. We’ve seen what happens when financial tools are misused without real-sector backing—both companies and the country suffer. Economy is about people, and our people stand tall. They have shown the world an unmatched example of courage. And they are ready to write new stories of resilience.”
“No Progress Without Risk”
President Erdoğan recalled his earlier call to action:
“I recently said, ‘Don’t delay—invest, believe in yourselves, believe in this country.’ Türkiye has stability and trust—two magical words. But today, I add another: take risks. Without risk, nothing moves forward. In economics, as I learned from my professors, risk is essential. And in politics—my 40 years of experience have shown—it’s no different. In fact, life itself is risk. We don’t know when or how it ends. Illness or death can strike at any moment. You can’t say no to that."
He concluded by saying that those who stand by the nation in difficult times will never be forgotten, as the value of such solidarity cannot be measured in money.
Borsa Istanbul Chairman Himmet Karadağ’s Address
In his opening remarks, Himmet Karadağ, Chairman and CEO of Borsa Istanbul, stated:
“Mr. President, following the failure of the July 15 coup attempt—thanks to your leadership and our people’s heroic stance—the enemies turned to economic, interest-rate, and currency-based attacks. Borsa Istanbul was the only financial institution physically targeted, but we were also the first to answer your call by converting all of our liquid assets and pricing tariffs into Turkish Lira.”
He reaffirmed Borsa Istanbul’s commitment to the 2023 goals and the vision for Istanbul as an International Financial Center:
“We are forming strategic partnerships with top global financial institutions, including NASDAQ, the EBRD, and under your leadership, a historic collaboration with the Islamic Development Bank. These alliances will enrich Türkiye’s and global markets with a broad range of new financial products.”
Karadağ added that they are working on Islamic finance instruments, such as real estate certificates, which will:
- Enhance sector liquidity
- Accelerate urban transformation projects
- Help resolve disputes among titleholders
Another innovative product in development is revenue-based securities tied to public-private partnership (PPP) projects, expected to bring a fresh dynamic to capital markets.
Ribbon Cutting Ceremony
The ribbon for the newly inaugurated buildings—Takas Istanbul, Merkezi Kayıt Istanbul, and the Precious Metals Storage Center in Kuyumcukent—was cut by:
- President Recep Tayyip Erdoğan
- Chairman Himmet Karadağ
- Istanbul Governor Vasip Şahin
- Türkiye Wealth Fund CEO Mehmet Bostan
- TMSF President Şakir Ercan Gül
- Borsa Istanbul CEO Osman Saraç
- Takas Istanbul CEO Mahmut Kayacık
- Merkezi Kayıt Istanbul CEO Ahmet Yılmaz
At the end of the ceremony, Chairman Karadağ presented President Erdoğan with a traditional calligraphy artwork as a token of appreciation.
