Page 22 - TurkInsurance Digital Magazine

20 at a glance

Interest-free funds increase the participation in the pension system

Özgür Obalı, General Manager of Vakıf Emeklilik, emphasized klilik’s interest-free pension
that interest-free pension system in Turkey grew with each pass- funds included selections such
ing day. Obalı stated that interest-free funds increased the atten- as Lease Certificate, Partici-
tion received from many parts of the society, raising the rate of pation Account, Stocks In-
participation in parallel. Özgür Obalı commented on this growth cluded in the Participation
rate by announcing certain statistics: “As of 31 May 2018, inter- Index, Gold, Sukuk, Venture
est-free fund size reached 7.30 billion TL in Individual Pension Capital Funds, and Real
System (BES) and 1.82 billion TL in Auto-Enrollment System Estate Funds. Obalı added:
(OKS). Proportion of interest-free funds to overall pension funds “We offer 3 different inter-
stands at 8.63 percent in BES and 64 percent in OKS. est-free BES plans called
‘Acoustic Interest-Free BES,
Stating that Auto-Enrollment System increased the attention for New Harmonic Interest-Free
interest-free funds, Özgür Obalı said that interest-free funds ac- BES and New Rhythmical
counted for 1.82 percent of pension market’s overall fund size of Interest-Free BES’, in addi-
2.86 billion TL as of 31 May 2018. Obalı added: “We see that tion to five different interest-free group pension plans.”
63 percent of the participants in Auto Enrollment System prefer
interest-free funds.” We are the market leader of interest-free participation
funds
Vakıf Emeklilik paves the way for interest sensitive cus-
tomers to enter in the system Obalı said Vakıf Emeklilik was the market leader in terms of its
interest-free fund performance as the company that founded Tur-
Underlining that Vakıf Emeklilik takes significant steps in the key’s first interest-free fund in 2010, adding that Vakıf Emeklilik
field of “Interest-free Finance”, General Manager Obalı said that offered six different interest-free funds for the voluntary individ-
they offered pension fund options consisting of instruments that ual pension system (BES). Obalı continued as follows: “Accord-
comply with “Interest-free Insurance” principles for customers ing to the statistics dated 31.05.2018, total size of participation
wishing to invest their savings in “Interest-free” instruments. He funds stands at 2 billion 410 million TL, with a share of 19.34
added that Vakıf Emeklilik paved the way for interest-sensitive percent in the total size of market funds. We rank number one
customers to enter into the pension system. Obalı said Vakıf Eme- among 11 companies in terms of participation fund size.”

Allianz Future Generations Reward winners

Allianz has successfully com- strategies and teams under the leadership of mentors and experts
pleted its social initiative pro- from Impact Hub and Allianz. Within the scope of Investment
gram called “Encouraging Ready Program, Picha Project was entitled with “Allianz Future
Future Generations”, which Generations” award, receiving 40 thousand EUR to use for their
was organized in cooperation innovative solution that was developed to address the employment
with Impact Hub - an im- program of refugees.
pact-oriented global network
- with the aim of fostering “Real champion is the desire to make a positive impact for
social inclusion of children the future”
and youth. In addition to Tur-
key, the program was imple- Burçun İmir, Director of Allianz Turkey’s Corporate Commu-
mented in Germany, Malesia nication and Sustainability Office, emphasized that Allianz had
and Brazil for the first time. implemented Turkey’s first sustainability strategy and model
Within the scope of this pro- in 2016. İmir added as follows: “Allianz Turkey has adopted
gram, nine social initiatives a strategy that focuses on preventive measures, initiatives and
that competed in the finale innovation. Our company activities focus on a good framework,
presented their solutions before the audience and five jury mem- good individuals, good companies and a good society. As Allianz
bers from Impact Hub and Allianz. While making their decisions Turkey, we were a part of this program with the aim of encour-
about the winners, the jury considered the social problems and aging and bringing together social entrepreneurs that are looking
efficiency of the solutions addressing those problems. As a re- for solutions to basic social problems faced by especially Turkish
sult of their assessments, Picha Project was the winning social youth. We were extremely pleased by the attention this program
initiative of Investment Ready Program among 9 others. There received from the very first stage. We want to congratulate Re-
were three companies (Reflect, BinYaprak, and Scode) from Tur- flect, BinYaprak and Scode teams that represented our country
key among those nine social initiatives that went through a sys- in the program. Besides, I would like to underline that the real
tematic evaluation and feedback process about business models, champion is the desire to make a positive impact for the future.”