Business

İşbank General Manager Bali: I see important steps in normalization

Organized by the World Newspaper Job Bank in association with İş Meetings The 43rd meeting, “Reshaping the future of the world to move to Turkey” was held under the online title.

Speaking at the event, Turkey Business Bank General Manager Adnan Bali, the first step towards Turkey’s future in the new period “to provide macroeconomic stability” Noting that the macro will be provided to optimize the overall policy objectives economic, spoke about the importance of economic stability.

“We understand predictability by this. The fact that all economic actors, including households, producers and the commercial sector, act correctly in a well-functioning mechanism and in a predictable environment means economic efficiency in itself. When this is done interrupts, decisions are made Consequently. Investor, rational action on consumer decisions. “Can not,” he said.

Stating that if the indicators of the free market mechanism are changed with some short-term effects, it can give wrong signals to decision-makers, “Since decision-makers act on this, the works that you think are working properly in the short term they do. I have no counterpart, this time it has destructive results. ”Is in the description.

“I SEE IMPORTANT STEPS ON STANDARDIZATION”

Adnan Bali referred to the negative effects of the global epidemic, the slowdown in economic activities, some uncertainties in monetary policy, some practices incompatible with the free market culture, rising inflation and problems in foreign relations on the country’s economy and made the following evaluations:

“Right now I see an important advance in normalization. The messages given by the CBRT are strong. There are not only messages but also applications. The policy rate is simplified, the link to weekly repo transactions, thus increasing the predictability in the market … Unless there is a process that is not convinced that it is permanent in inflation, it is strict. The messages that the monetary policy stance will not be changed, the announcement that if there is a deviation, it will not be will prevent further hardening and this should be done … ”

He stated that as economic activity increases globally, this will accelerate inflation and mentioned the expected increase in commodity prices.

“HIGH INTEREST BANKS WILL NOT BE HAPPY”

Turkey Is Bank General Manager of Bali, on criticism of bank interest rates were found in the following statement:

Here we have our industrialists and producers. If you want to understand the state of the banking system in the face of an interest increase, what happens when the price of the raw material they use the most happens to us. The same mechanism. What input do they use the most, whose price has risen the most in the shortest time. And if it has had a negative impact on your work, the same is happening with us.

For him, what matters here is the general level of prices in the trade, not the level of interest, but what the margin is. (Lover of interests) There is no such thing. People who have high interest rates, savings surpluses and evaluate this with interest and unilaterally will be happy.

Bali, on questions about these events when registering the General Manager of Isbank of Turkey from that last meeting, attended by Meetings with İş, ended it by saying:

“I can never think of anything that breaks my connection in terms of the customer world and human relations. I will develop a higher perspective, more independent of the intensity of active business life, and if approved by the chartered boards, I will try to Contribute to the council of administration, I will continue to pass on my experience. However, regarding the adequacy of the decisions of our executive staff, I will try to contribute. We will not have a complaint. “

VIDEO: WILL CBRT INTEREST INCREASE THIS WEEK?

“22 LIRA OF THE 100 LIRAL SHOPPING HAVE BEEN CARRIED OUT ON THE INTERNET”

The deputy general manager of Turkey Business Bank, Hakan Aran, is said that the number of more than 20 million customers, their duty, to see changes in customer behavior has brought the term and claimed to be able to read.

Emphasizing that the customer interaction and customer preferences of each period are different, Aran said: “Digitization is not a trend, it is really a necessity and this must be done. We are talking about a vital, vital transformation, not about something. in the category of what can be done. “

Stating that as an entrepreneur and manager, you must be able to say goodbye to old products and business models, Aran asserted that the transition to a new business model and new products must be achieved.

Aran said that during the epidemic period, they had to hire 500 new jobs for the customer service unit and that their employees had set up the necessary mechanisms to receive calls from home.

Stating that the epidemic affected many things, Aran continued his speech as follows:

“The flexible business model, support to work from home, organizational changes and even the loading of cash at the ATM are affected. Now people go very little to ATMs and withdraw higher amounts when they do. Therefore, customer behavior is changing.You need to change your cash loading strategy.

22 lire of the 100 lire purchases are now available online. So if you don’t have products that support online shopping, don’t have a virtual publishing device, a virtual credit card, or an online shopping action plan, you will have a hard time keeping up with those changes. “

Aran affirmed that the banking of the future will be carried out through platforms and payment systems will be an integral part of this.

Digital currency Raising the issue and stating that the issue is one of efficiency, Aran said: “The banking of the future will be a future in which there is no physical money, digital money, digital money is intertwined with digital payment systems, and exports and imports. it can be done through these platforms “.

“THE IMMUNIZATION PROCESS OF ALL COUNTRIES REMAINS CONTINUING UNTIL 2024”

The Governor of the Business Bank of Turkey, Erdem Watch, Chief Economist Stating that in the second quarter of 2020, the world economy was experiencing a very sharp slowdown, “Almost all countries were affected and there were contractions that we did not see even during the global crisis. The measures were implemented together,” he said. .

Emphasizing that the effects of expansionary policies were felt very clearly in the continuation of this process, Erdem recalled that support packages of 15 percent of world national income were put in place to sustain economic activities.

Erdem said that support packages differ from country to country, “when we look at some countries, we see that the public uses direct budget possibilities. In the group that we are included, budget support was relatively limited and we received more support to economies through the credit channel. We see that the levels have increased “found the evaluations.

Erdem affirmed that the most promising thing to start 2021 is the vaccination studies and continued his speech as follows:

“When we look at the data from the World Health Organization (WHO), I think that so far 327 million doses of vaccines have been administered. But of course, 327 million doses of vaccines have been distributed to the few countries in the world. It was distributed to 10 countries that have 60 of them, so 130 countries still do not have access to the vaccine. Therefore, if your neighbor is not immune to the virus, it will not be enough for you as a country to get vaccinated alone. It seems that it will last until the 1980s. ”

“HIGH GROWTH IS EXPECTED IN MANY COUNTRIES IN 2021”

Stating that many countries are expected to grow at an unusually high rate in 2021 with the base effect of the previous year, Erdem said that even a small hope in this contraction process began to immediately mobilize markets.

Recalling that the Fed’s low interest rate policy will continue until at least 2023, Erdem recalled that there is a return to expected levels in 2019 in market interest rates, especially at the interest rate of US bonds at 30 years, and he said: “This means that the Fed is whatever” Even though the market says that market rates will remain low until the Fed has to raise interest rates first, “he said.

Erdem affirmed that this situation also directs portfolio flows to developed countries, and said that such outflow movements caused fluctuations in the exchange rate.

Speaking until the completion of the evaluation of the economy of Turkey Erdem, the descriptions were completed as follows:

“We have not been able to prioritize inflation in our policies for years, because we are left with nothing of what has happened to us. Rightly, policy makers have prioritized it on the growth side. We need to reduce inflation. Almost everyone. predicts inflation will peak in April.

The changing policies of the Central Bank after November also have a lot of impact, we simplify it immediately, we eliminate the uncertainties. Therefore, we estimate that inflation will drop to 11 percent by the end of the year. But it can put some pressure on growth. We believe growth will be at the 3.5-4 percent level. “

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