Bernanke to speak for $300,000 in Istanbul

Bernanke to speak for $300,000 in Istanbul

Hülya Güler ISTANBUL / Hürriyet
Bernanke to speak for $300,000 in Istanbul

The former head of the US central bank, Ben Bernanke, will reportedly deliver a speech in Istanbul. REUTERS Photo

Former United States Federal Reserve Chair Ben Bernanke will come to Turkey in September to deliver an exclusive speech, in return for $300,000.

The central banker, who last month left his post to incoming chair Janet Yellen, has reportedly accepted an invitation to make a speech as part of the FX World Conference to be held in Istanbul from Sept. 25 to 28.

VIP Turizm, one of Turkey’s largest tourism agencies, and Meta Türk, the Turkey office of international financial software company MetaQuotes, are the organizers of the conference that is also being contributed to by the Capital Market Intermediary Institutions Association (TSPAKB).

VIP Turizm owner Ceylan Pirinçcioğlu went to the U.S. to discuss the visit’s details with Bernanke and his team, according to same sources. Bernanke will be paid $300,000 for the speech, which will be attended by “platinum participants” of the conference in return for a 1,000 euro submission fee.

The total budget of the conference, which will also draw a number of participants from neighboring countries, is expected to be around 1 million euros.

Bernanke was paid at least $250,000 for his first public speaking engagement in Abu Dhabi on March 4 after stepping down in January, Reuters reported last week quoting sources.

The agency claimed that Bernanke earned more in 40 minutes than he made all of last year as head of the Fed, comparing the payment for the speech with his 2013 paycheck of $199,700.The appearance was only the first of three around the world this week, Reuters added.