TURKEY - Turkey should develop its capital markets by reviewing conflicts of interest issues arising from bank ownership of most non-bank intermediaries, such as pension funds and insurance companies, according to the latest report from the Organisation for Economic Cooperation and Development.
A systemic reform should be carried out to implement, in the medium term, a balanced three-pillar pension system, added the OECD. In April 2001, the government took a first step in this direction by adopting...
TURKEY - HSBC is to manage all of Allianz Turkey's personal pension funds as part of a partnership deal between the two companies.
Towers Watson has expanded its presence in Turkey by establishing a new subsidiary in Istanbul.
TURKEY - Anadolu Hayat Emeklilik AS, Turkey's biggest manager of pension funds, has started buying the first lira- denominated bonds ever sold by local banks to benefit from higher returns than are available on government debt.
GLOBAL - The International Accounting Standards Board (IASB) today voted to not move forward with plans to eliminate the use of government bonds to determine discount rates.
GLOBAL - The average assets to gross domestic product ratio for OECD pension funds dropped from 75.5% of GDP in 2007 to 63.4% in 2008, according to the Organisation for Economic Co-operation and Development.