Summary
Can Istanbul become an international financial centre through Islamic finance? This paper argues that the city has clear strategic potential, given its geography, banking system, and ties to Muslim countries, but that potential is not enough on its own.
The limiting factors are institutional: legal and regulatory readiness, human capital, and the broader credibility needed for a true international-finance hub. In other words, the paper finds a gap between strategic ambition and operational readiness, with Islamic finance offering a path only if policy commitment remains focused and sustained.