Turkish 'second mortgage phase ready'
Secondary arrangements regarding the mortgage system in Turkey have been completed, according to the chairman of the capital market board.
Turan Erol stated that a number of important arrangements have been covered with the second phase, including the draft on securities based on dwelling finance funds and the draft on mortgage-guaranteed securities, reports the Turkish Daily News.
Additional finance for markets will be generated by the implementation of the latter, Mr Erol said.
He stated that these developments mean there will be significant opportunities for future investors into the country, as new business areas will be opened up.
"Arrangements made within the framework of this system create new business areas. For instance, assessment experts are needed. Some new bodies, like mortgage finance institutions, are to be established," he commented to Anatolia news agency.
In related news, the retailer Real Hypermarkets recently announced that it is to open new stores in Istanbul.
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