- Prof. Dr. Fatma Ozkul appointed to Turkey’s Monetary Policy Committee.
- Ozkul, blockchain expert, joins Central Bank amid economic team overhaul.
- Turkey plans cryptocurrency regulations amid rising inflation and trading popularity.
Recep Tayyip Erdogan, the Turkish president, has appointed Prof. Dr. Fatma Ozkul, an expert in blockchain technology and cryptocurrencies, to the group of experts on digital currencies. Prof. Dr. Ozkul has been officially chosen to be a member of the Central Bank of Turkey’s Monetary Policy Committee.
Additionally, the selection of Fatma Ozkul as a member of the Central Bank of the Republic of Turkey’s (TCMB) Monetary Policy Committee was announced in the Republic of Turkiye’s Official Gazette.
Impactful Experiences Accumulated
As a faculty member in the Department of Accounting and Finance at Marmara University’s Faculty of Business Administration, Ozkul has written numerous academic papers on the subjects of accounting and auditing. Additionally, she holds a position on the advisory board of the BlockchainIST Center.
Additionally, Ozkul wrote the books “Accounting Practices in Retail Businesses,” “Fraud Risk Management in Businesses,” and “Crypto Asset Accounting,” the latter of which was awarded the title of “Best Finance and Economics Book of the Year” in 2023.
Additionally, following his victory in the general election in May, the Turkish president established a fresh team to oversee economic affairs. Subsequently, in June, he appointed Hafize Gaye Erkan, who previously worked as a banker for Goldman Sachs Group Inc., to central bank governor.
Following the replacement of three Monetary Policy Committee (MPC) members by Erdogan in July, Turkey’s central bank has persisted with its monetary policy tightening measures, raising the policy rates by 3,400 basis points to a new level of 42.5% this week.
In Turkey, as the popularity of trading cryptocurrencies increases due to escalating inflation, the government is intensifying its efforts to control the sector. The main focus of the upcoming regulations for the cryptocurrency market is expected to be on implementing licensing requirements and taxation. The government intends to introduce legislation to regulate digital currency assets next year.
