Turkey is asking people’s help in combating terrorism in its territories, yet it is reluctant to take steps itself.

As of the end of February 2013, the Financial Action Task Force (FATF) will suspend Turkey’s membership for not introducing a legal framework to eradicate terrorist financing networks. Turkey is asking people’s help in combating terrorism in its territories, yet it is reluctant to take steps itself. The related legislation has yet to be enacted. It will be negotiated by the Justice Commission soon. If the legislation is not enacted and the FATF suspends our membership, Turkey for the first time will be left out of the international community. It will join the black list with North Korea and Iran. It will be mentioned together with the outcasts. Please note that there is no other country on the list of outcasts among the top twenty. You might be unhappy with the way the world is evolving, but you have to keep in mind that if you are unable to create a new world, you have to bear with the way things are.

Here is a test for Turkey. If it is determined to establish an international financial center in Istanbul, it has to enact the anti-terrorist finance legislation and satisfy the international community.

So, what is the FATF? It is a Paris-based intergovernmental organization founded in 1989 and is the main international body combating money laundering, terrorist financing, and other threats to the integrity of the international financial system. The definition and the scope of financial felonies are identified by the United Nations Security Council. The FATF was initially mainly about money laundering, but went heavily into terror financing after 9/11. Turkey has been a member since 1991.

Anyway, you might be unhappy with the way things are in today’s world. So am I.  I am unhappy with the fact that in order to deliver goods from Turkey to Pakistan, you first have to ship the goods to one of the large European ports like Rotterdam or Hamburg. Turkey has to first transport the goods to a western port for a final destination that is in the east. This is bad. But such is the world order today.

With the world’s center of gravity shifting from the North Atlantic to the east of China, you might be thinking that a new world is possible. So do I. Industrial production was a concern only for 15 percent of the world population; today the rate exceeds 60 percent. Everyone would like a new world and new decision-making mechanisms. The south-south cooperation has gained more meaning along with the global crisis. The emerging production centers are closely connected with the old ones but quite distant from each other. Transportation, trade, communications and financial transaction routes are based on the west, which once pioneered these sectors. Such is the world order. Yes, it is bad for us, but that’s the way it is.

So, let’s say you no longer want the US dollar as the reserve currency. Forty percent of international financial transactions in the world are still in dollar terms, however. Only 4 percent of overall financial transactions take place in the area where the Chinese yuan is used, including Hong Kong. China has grown, but the world order has not changed yet. This does not augur well, but it’s the reality.

We have a platform for debate to change the world order. This is the exact purpose of the G20. Is it because Turkey is facing this threat because has voiced its reservations on the issue and on the FATF’s activities to prevent terrorist financing on this legitimate platform? You wish!

The legislation negotiated at the Justice Commission will satisfy the international community when enacted. Turkey has to remain an esteemed member of the international community. We do not belong among the outcasts. We have a lot to accomplish.

This commentary was published in Radikal daily on 22.01.2013