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NEWS & EVENTS
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| Scotiabank Luncheon – October 5, 2009 – Istanbul | Over 10,000 senior level representatives of the governments of 184 countries, commercial banks and central bank and regulators gathered in Istanbul between Oct 2 to 7, for the annual meetings of the World Bank and the International Monetary Fund. All eyes were set on the Istanbul meeting where the world’s biggest gatherings of financial officials and business leaders took place amid the worst economic crisis in 60 years. Main focus of the talks centered on possible recovery from global recession and future of the financial system.
Scotiabank hosted a special luncheon with the Government of Canada on October 5th, 2009 at the beautiful Four Seasons Bosphorus Hotel. We were fortunate to have H.E. Minister of Finance, James Flaherty as the key-note speaker, following a welcome speech by Scotiabank executives, Ms. Alberta Cefis, EVP & Head, GTB and Mr. Rick Waugh, President & CEO. Mr Waugh touched upon Scotiabank’s business in Turkey and the Bank’s strength and Canada’s enviable position compared to other developed countries. Minister Flaherty was also full of compliments of the Canadian banks, including our own, while announcing his new award as the “Best Finance Minister” by Euromoney.
The event was also attended by Minister Flaherty’s Turkish counterpart, H.E. Minister of Finance of Turkey, Mr. Simsek and Bank of Canada Governor Mark Carney along with several other senior representatives of the Turkish and Canadian government, International Finance Corporation, World Economic Forum and Bank of International Settlements, as well as top executives of financial institutions from 16 different countries around the world.
Overall, the impressions were favourable. Istanbul, with a population of 15 million and as the financial and cultural centre of Turkey, and 15th largest economy in the world, mesmerized the thousands of delegates who were only there for a few days, but left with promises to come back. As the city extends both on the Asian and European sides of the Bosphorus strait, being the only metropolis in the world that is situated on two continents, its symbolic importance in hosting the meetings for the second time was important.
Nihal Olenik
Regional Director & Chief Representative, Turkey Representative Office
Director, Canadian Turkish Business Council
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