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New Period Financial Affairs

London has lost its position as the largest financial center.

It is reported that London, the capital of England, lost its position as the largest financial center in the world to New York.According to the “Global Regulation Outlook” report prepared by the consultancy firm Duff & Phelps, headquartered in New York, New York rose behind London and became the world’s largest financial center in 2019.

  • Starting at 2019, 56 percent of the top level reviewed expressed that they saw New York and 34 percent thought about London as their essential budgetary focus.

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Then again, 53 percent of the respondents expressed that they consider London to be the essential monetary focus of 42 percent and New York as the essential budgetary focus. The report noticed that vulnerabilities in regards to Britain’s exit from the European Union (EU) (Brexit) assumed a job in London’s subsequent spot.

“It is outlandish not to feel that Brexit-related vulnerabilities that have been continuing for a long time have added to the fall of London.In 2018, London was viewed as the greatest monetary focus. The stuns between the UK and the EU were stunned,” said Monique Melis, President of Duff and Phelps Global Regulation and Compliance. waves might be starting to be seen. “He said.

240 senior monetary supervisors from various pieces of the world took an interest in the study.

Turkey’s Central Bank issued regulations related to electronic money

The Law on the Amendment of Certain Laws and the Law on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions was distributed in the Official Gazette on 22 November 2019. The pertinent enactment and refreshed corporate structure of the CBRT, which assumed control over all duty, including the permit application and review with respect to the Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions from BRSA as of January 1, 2020, has been distributed on the site.
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  1. Law No. 6493 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions
  2. Guideline on Payment Services and Electronic Money Issuance and Payment Institutions and Electronic Money Institutions and its additions
  3. Report on the Management and Control of Information Systems of Payment Institutions and Electronic Money Institutions and its extensions

Companies agreed that the new world’s currency would be virtual currency. Explanations in the news are expected in the near future!

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