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Banking In Turkey
Banking in Turkey is an important aspect of the financial system Turkey's dynamic economy. Banks handle the majority of money and capital market transactions and activity. Commercial banks make up the majority of Turkey's financial sector, accounting for 91 percent of overall financial sector assets as of 2020. The beginnings of the banking industry can be traced to the 19th century with Galata bankers creating the first Ottoman bank. As of January 2021, there are a total of 48 banks operating with 9,880 branches in Turkey and 71 branches abroad. The total value of assets of the banking sector in Turkey amounted to more than $800 billion. History Ottoman period The so-called money-changers and Galata bankers were the first to engage in banking activities in the early 1800s. All quasi-banking activities were carried out by money-changers during this era, and the Galata bankers were largely ethnic minorities in Istanbul. Following the Crimean War, the Ottoman Empire's financia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ankara Asv2021-10 Img23 Ziraat Bank Museum
Ankara ( , ; ), historically known as Ancyra and Angora, is the capital of Turkey. Located in the central part of Anatolia, the city has a population of 5.1 million in its urban center and over 5.7 million in Ankara Province, making it Turkey's second-largest city after Istanbul. Serving as the capital of the ancient Celtic state of Galatia (280–64 BC), and later of the Roman province with the same name (25 BC–7th century), the city is very old, with various Hattian, Hittite, Lydian, Phrygian, Galatian, Greek, Persian, Roman, Byzantine, and Ottoman archeological sites. The Ottomans made the city the capital first of the Anatolia Eyalet (1393 – late 15th century) and then the Angora Vilayet (1867–1922). The historical center of Ankara is a rocky hill rising over the left bank of the Ankara River, a tributary of the Sakarya River. The hill remains crowned by the ruins of Ankara Castle. Although few of its outworks have survived, there ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bulgaria
Bulgaria (; bg, България, Bǎlgariya), officially the Republic of Bulgaria,, ) is a country in Southeast Europe. It is situated on the eastern flank of the Balkans, and is bordered by Romania to the north, Serbia and North Macedonia to the west, Greece and Turkey to the south, and the Black Sea to the east. Bulgaria covers a territory of , and is the sixteenth-largest country in Europe. Sofia is the nation's capital and largest city; other major cities are Plovdiv, Varna and Burgas. One of the earliest societies in the lands of modern-day Bulgaria was the Neolithic Karanovo culture, which dates back to 6,500 BC. In the 6th to 3rd century BC the region was a battleground for ancient Thracians, Persians, Celts and Macedonians; stability came when the Roman Empire conquered the region in AD 45. After the Roman state splintered, tribal invasions in the region resumed. Around the 6th century, these territories were settled by the early Slavs. The Bulgars, led by Asp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Savings Deposit Insurance Fund Of Turkey
The Savings Deposit Insurance Fund of Turkey ( tr, Tasarruf Mevduatı Sigorta Fonu), a.k.a. TMSF in abbreviated form, is the governing body concerned with matters of fund management and insurance in the Turkish banking system. The body was founded in 1933 with the name Deposit Protection Act ( tr, Mevduatı Koruma Kanunu). In 1960, the name was changed to Bankalar Tasfiye Fonu ( tr, Bankalar Tasfiye Fonu). The current name was adopted in 1983. TMSF is also involved in the media industry, and owns at least one asset each for every newspaper, pay television, television and radio station. In 2013, TMSF acquired some assets from Çukurova Media Group after the company was forced to sell due to tax debts. The institution was initially overseen by the Central Bank of Turkey The Central Bank of the Republic of Turkey, CBRT ( tr, Türkiye Cumhuriyet Merkez Bankası, TCMB, literally "The Turkish Republic Central Bank") is the central bank of Turkey. Its responsibilities include conduc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capital Markets Board Of Turkey
The Capital Markets Board of Turkey (CMB) ( tr, Sermaye Piyasası Kurulu) is the financial regulatory and supervisory agency of Turkey. Its board is appointed by the Turkish finance ministry. History The CMB was created in 1982 with the passing of the Capital Markets Law (CML) in 1981. This was followed by a number of further laws and decrees that expanded its functions and responsibilities. The most significant of these changes was Law No. 4487 which was passed in December 1999, which brought in a set of amendments to the Capital Market Law expanding the duties and the scope of authority. This included increased consumer protection and changes to allow dematerlisation of stocks and other changes to make the markets more flexible and able to use information technology. Responsibilities and functions The CMB is responsible for safeguarding the stability of the financial market, consumer protections and supervising participants in the stock market. Structure The Chairman who ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking Regulation And Supervision Agency
The Banking Regulation and Supervision Agency, BRSA ( tr, Bankacılık Düzenleme ve Denetleme Kurumu, BDDK) is an independent agency in Turkey whose task is to regulate and supervise the banking system in the country. It aims to "provid reliability and stability in financial markets", "ensur the efficient running of the credit system", and protect consumer rights. BRSA. Archived on 28 September 2019 at the Wayback Machine
The Wayback Machine is a digital archive of the World Wide Web founded by the Internet Archive, a nonprofit based in San Francisco, California. Created in 1996 and launched to the public in 2001, it allows the user to go "back ...
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Capital Adequacy Ratio
Capital Adequacy Ratio (CAR) is also known as ''Capital to Risk (Weighted) Assets Ratio'' (CRAR), is the ratio of a bank's capital to its risk. National regulators track a bank's CAR to ensure that it can absorb a reasonable amount of loss and complies with statutory Capital requirements. It is a measure of a bank's capital. It is expressed as a percentage of a bank's risk-weighted credit exposures. The enforcement of regulated levels of this ratio is intended to protect depositors and promote stability and efficiency of financial systems around the world. Two types of capital are measured: tier one capital, which can absorb losses without a bank being required to cease trading, and tier two capital, which can absorb losses in the event of a winding-up and so provides a lesser degree of protection to depositors. Formula Capital adequacy ratios (CARs) are a measure of the amount of a bank's core capital expressed as a percentage of its risk-weighted asset. Capital adequacy rat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State-owned Bank
In banking, the term national bank carries several meanings: * a bank owned by the state * an ordinary private bank which operates nationally (as opposed to regionally or locally or even internationally) * in the United States, an ordinary private bank operating within a specific regulatory structure, which may or may not operate nationally, under the supervision of the Office of the Comptroller of the Currency. In the past, the term "national bank" has been used synonymously with "central bank", but it is no longer used in this sense today. Some central banks may have the words "National Bank" in their name; conversely if a bank is named in this way, it is not automatically considered a central bank. For example, National Bank of Canada of Montreal, Canada, is a privately owned commercial bank. On the other hand, National Bank of Ethiopia is the central bank of Ethiopia and National Bank of Cambodia is the central bank of Cambodia. By country Afghanistan Pashtany Bank is t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Black Sea Trade And Development Bank
The Black Sea Trade and Development Bank (BSTDB) is an international financial institution serving the eleven member founding countries of the Black Sea Economic Cooperation, a regional economic organization. It supports economic development and regional cooperation by providing loans, guarantees, and equity for development projects and trade transactions. BSTDB supports both public and private enterprises in member countries and does not attach political conditionality to its financing. Objectives of the bank include promoting regional trade links, cross country projects, foreign direct investment, supporting activities that contribute to sustainable development, with an emphasis on the generation of employment in the member countries, ensuring that each operation is economically and financially sound. The bank has an authorized capital of EUR 3.45 billion. BSTDB is governed by the Agreement Establishing the Black Sea Trade and Development Bank, a United Nations registered tre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of Turkey
Turkey has an emerging market economy, as defined by the International Monetary Fund. The country is a founding member of the OECD (1961) and the G-20 major economies (1999). Since 1995, Turkey is a party to the European Union–Turkey Customs Union. Turkey is often classified as a newly industrialized country by economists and political scientists; while Merrill Lynch, the World Bank, the IMF and ''The Economist'' magazine describe Turkey as an emerging market economy. The World Bank classifies Turkey as an upper-middle income country in terms of the country's per capita GDP. The CIA World Factbook adds Turkey to its list of developed countries (DCs) due to the country's status as a founding member of the OECD. With a population of 84.6 million as of 2021, Turkey is among the world's leading producers of agricultural products, textiles, motor vehicles, transportation equipment, construction materials, consumer electronics and home appliances. Turkey's nominal GDP peaked at ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Turgut Özal
Halil Turgut Özal (; 13 October 192717 April 1993) was a Turkish politician, who served as the 8th President of Turkey from 1989 to 1993. He previously served as the 26th Prime Minister of Turkey from 1983 to 1989 as the leader of the Motherland Party. He was the Deputy Prime Minister of Turkey in the military government of Bülend Ulusu between 1980 and 1982. After working briefly at the World Bank in the United States and as a university lecturer, Özal became the general secretary and later the leader of the main miners' trade union of Turkey in 1979, serving as a chief negotiator during large-scale industrial action in 1977. He unsuccessfully stood for Parliament in the 1977 general election as a National Salvation Party (MSP) candidate from İzmir. In 1979, he became an undersecretary to Prime Minister Süleyman Demirel's minority government until the 1980 military coup. As an undersecretary, he played a major role in developing economic reforms, known as the '24 Janu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of Turkey
The Government of Turkey ( tr, Türkiye Cumhuriyeti Hükûmeti) is the national government of Turkey. It is governed as a unitary state A unitary state is a sovereign state governed as a single entity in which the central government is the supreme authority. The central government may create (or abolish) administrative divisions (sub-national units). Such units exercise only th ... under a presidential system, presidential representative democracy and a Constitution of the Philippines, constitutional republic within a Diversity (politics), pluriform Multi-party period of the Republic of Turkey, multi-party system. The term government can mean either the collective set of institutions (the Executive (government), executive, Legislature, legislative, and Judiciary, judicial branches) or specifically the Cabinet of Turkey, Cabinet (the executive). Naming The republic is named "Turkey" ( tr, Türkiye) or "Republic of Turkey" ( tr, Türkiye Cumhuriyeti) with its full name. No o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank Of The Republic Of Turkey
The Central Bank of the Republic of Turkey, CBRT ( tr, Türkiye Cumhuriyet Merkez Bankası, TCMB, literally "The Turkish Republic Central Bank") is the central bank of Turkey. Its responsibilities include conducting monetary and exchange rate policy, managing international reserves of Turkey, as well as printing and issuing banknotes, and establishing, maintaining and regulating payment systems in the country. The CBRT is tasked by law to achieve and maintain price and financial stability in Turkey, and has a mandate to use, by its own discretion, whichever policy instrument at its disposal to reach these objectives. Therefore, it has instrument but not goal independence. Since 2006, the CBRT follows a full-fledged inflation targeting regime.Central Bank of the Republic of Turkey Factsheet , C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
