Shanghai Gold Exchange Chairman JIAO Jinpu delegation came to Turkey on April 6, 2018 and visited the Istanbul Gold Refinery.

During his visit to IGR, the JIAO Jinpu delegation addressed issues related to cooperation in the gold markets and to strengthening the market, and discussed the win-win process for both sides.

After his visit to Turkey, the delegation headed by Jiao jinpu attended Dubai Precious Metals Conference 2018 between 8-9 April 2018. During the Dubai Precious Metals Conference, Jiao took part in the "Role and Future of Global Exchanges" panel and made a speech on “Win-Win Cooperation " through opening and innovation.

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The second issue of the “ Most successful 50 Islamic Economies and CEO’s ” has announced that according to the research made for the year 2015, Damac Properties of the United Arab Emirates has proven to  be the fastest expanding company with a turnover of $ 2.3 billion while 5 Turkish companies have taken their places in the list too.

Even though The Islamic economy world suffered through a painful period due the outbreak of Ebola and Daesh terrorism throughout the region, 74 Islamic companies out of the 212  has shown an expanding rate of 128% in 2015. By the end of 2015 the income of Islamıc national economy was a total of 7 trillion 58 billion dollars.


There are 350 companies which can turnover more $ 1 billion
There are more than around 350 public and private sectors with revenues of over $ 1 billion which operate in the Islamic World. The financial statements of 2015 shows that two third of the 212 company’s revenue had decreased on dollar basis when one third of these companies revenues increased.
In 2015 the total revenue of the 212 biggest companies was calculated at $856 billion dollars. The top 50 companies who have shown increase in sales hold the key to success in the Islamic World.  The list consists of 11 companies from Saudi Arabia, 5 from Turkey, 4 from Malaysia, and 3 companies from Egypt, Iran and Qatar. The fastest expanding company was chosen to be the Damac Properties luxury real estate developer of UAE.

4 reasons for Islamic economy to trip

After 15 years, political and economic factors were the fundamental factors of the interruption amongst the Islamic Economies.

1. Daesh undermined the political and economic stability of the region. 100 years ago the representatives of Great Britain and France secretly reach an accord, known as the Sykes-Picot Agreement, by which most of the Arab lands under the rule of the Ottoman Empire are to be divided into British and French spheres of influence. In the 100th year of the agreement Daesh terrorism occurred in the region preparing a convenient ground for the new intervention plans of the global Powers USA and Europe.
2. Developing economies became victims of the FED and the US Dollar. Due to the increase of interest issued by FED the expectation was that ‘Money’ fled to the USA, however for last five years interest rates stabilized at zero interest causing the interest rates to stayed at double digits in the developing countries’ economy. Hence resulted in the loss of investment and capital in the Islamic countries.
3. Oil prices have led to a catastrophe in the Gulf. The price of crude oil started dropping in the mid-2014 and continued to fall throughout 2015. Petrol dropped from $120 down to $28 per barrel. Although this benefitted the largest importers like Turkey, the decline in the price of petrol caused the Islamic countries’ revenues to decrease nearly by 50%.
4.  Ebola shuddered the Muslim countries in Africa. The outbreak of Ebola from Sierra Leone spread wide across the eastern and central Africa crashing the economy of these newly developing countries. Sierra Leones’ population decreased by 21.5 percent resulting all operations in the country to come to a halt.

Turks are in the list

‘Islamic Country’s’ Most successful 50 companies and CEO’s List’ prepared by Derin Ekonomi magazine and Dinar Standard Research and Consulting company took into account the criteria’s below when creating the list. Saudi Arabia takes lead on the list followed by Egypt and Qatar.
From Turkey, Özcan Halaç the CEO of Istanbul Gold Refinery takes the 7th best place in the list followed by Hüsnu Akhan the CEO of Doğuş Holding who occupies the 17th best place and Haydar Yenigün the CEO of Ford Automotive is in line as the 27th best when the CEO of Tofaş Turkish Automobile Factory is ranked the 46th best company in the list announced.
In 2002, Halaç Jewellery Limited bought the majority of shares in Istanbul Gold Refinery, which had been founded by the Turkish Treasury, Istanbul Gold Exchange and Vakıfbank. The first Board director was Ömer Halaç until 2008 when his brother Att.Özcan Halaç was elected to be the new Board Director after his death. Özcan Halaç has been running the organization since then.