Executive summaryOn 1 June 2022, Turkish Parliament members submitted a draft law (the Bill) which introduces the establishment of the Istanbul Finance Center (IFC) to the Turkish Parliament.The Bill aims to promote Istanbul as an international finance center, to support the economic growth of Türkiye by increasing financial competitiveness and developing high value-added financial products and services in the financial sector, and to strengthen integration into international financial and capital markets.Participants of the IFC will have certain tax advantages, including the ability to keep their legal books in foreign currency and the eligibility to freely choose a law of a...