Hurriyet Daily News | Turkey’s best woman entrepreneur rises from defense sector

May 27, 2011 § Leave a comment

Zeynep Rüstemoğlu (R), winner of a women entrepreneurship contest, poses with Ergun Özen, head of Turkey's Garanti Bank, during an award ceremony. AA photo

ISTANBUL, Friday, May 27, 2011

Zeynep Rüstemoğlu from Ankara, owner of Forum Industries offering automatic fire detection and suppression systems, has been selected as “Turkey’s best female entrepreneur” for her successful activities in the defense industry.

The results of the “Turkey’s Women Entrepreneurs Competition” held by Turkey’s Garanti Bank in cooperation with weekly business magazine Ekonomist and the Women Entrepreneurs Association of Turkey, or KAGİDER, were announced late Thursday.

A total of 5,600 female entrepreneurs from different regions of Turkey applied to the competition, which received only 113 applications five years ago. Pınar Akalın from Istanbul, the owner of Sentromer DNA Technologies, received the “Promising woman entrepreneur” award.

Speaking during the award ceremony, Ergun Özen, chief executive officer of Garanti Bank, said they do not prefer to separate jobs as “proper for women or proper for men.”

“Evaluations should be done in the business life according to talent and competency, instead of gender,” Özen said. “In addition to women entrepreneurship, as Garanti Bank, we try to contribute to female employment and boost the number of women in labor force.”

The owner of textile company ONR Moda, Firdevs Serpil Karuserci and Ebru Bayakar Demir, owner of Murat Cercis Konağı restaurant, from the southeastern provinces of Gaziantep and Mardin, respectively, were granted awards as “Woman Entrepreneur who made a difference in her region.”

Lender looks for ways to compensate loss

In a separate event the same day, Garanti’s Özen said the share of fees and commission in banking still remained lower in Turkey compared with global banks.

“The quality of the profit could be attained through fees and commission,” he told the Hürriyet Daily News on Thursday, while speaking on the sidelines of a meeting in Istanbul. The bank, partly owned by Banco Bilbao Vizcaya Argentaria of Spain, generates nearly 120 million Turkish Liras from fees and commission annually.

According to him, the banks in the country will increase their fees and commissions eventually to compensate for their losses from a recent rise in the required reserve ratio by the Central Bank. Özen said the total share of fees and commissions in Turkish bank’s revenues floated around 15 percent but could be increased to 25-30 percent soon.

The Turkish Central Bank increased bank reserve requirements three times in the past year to 16 percent from 10 percent in 2010, in an attempt to deter the country’s rapid credit growth and increasing current account deficit.

Turkey’s best woman entrepreneur rises from defense sector – Hurriyet Daily News and Economic Review.


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