Ordu Yardımlaşma Kurumu (OYAK) (''lit. Military Mutual Aid Institution''), is a Turkish charity and

pension fund A pension fund, also known as a superannuation fund in some countries, is any plan, fund, or scheme which provides retirement income. Pension funds typically have large amounts of money to invest and are the major investors in listed and priva ...

with around 363,000 members and owner of Renault (Oyak). The OYAK Holding Investment Subsidiary Group is one of the largest industrial groups in

Turkey Turkey ( tr, Türkiye ), officially the Republic of Türkiye ( tr, Türkiye Cumhuriyeti, links=no ), is a list of transcontinental countries, transcontinental country located mainly on the Anatolia, Anatolian Peninsula in Western Asia, with ...

. The group was the former owner of ING Oyak Bank (sold to ING Bank in 2007) and the Oypa supermarket chain. In 2012 it was rated BB+/stable by

Standard & Poor's S&P Global Ratings (previously Standard & Poor's and informally known as S&P) is an American credit rating agency (CRA) and a division of S&P Global that publishes financial research and analysis on stocks, bonds, and commodities. S&P is con ...

. The group co-owns

Oyak-Renault Oyak Renault Otomobil Fabrikaları or Oyak-Renault is a Turkish automotive manufacturer located in Bursa. It is co-owned by OYAK (Turkish: Ordu Yardımlaşma Kurumu, English: Army Pension Fund) and Renault. Oyak owns 49% and Renault owns 51% of th ...

, a car manufacturer, and steel producer Erdemir. OYAK Group of Companies added Sagra to its structure in April 2021. OYAK provides members with "supplementary retirement benefits" apart from the official retirement fund, T.C.Emekli Sandığı/SSK, to which they are primarily affiliated. In addition to retirement benefits, OYAK pays

disability benefits Disability benefits are funds provided from public or private sources to a person who is ill or who has a disability. United Kingdom In the United Kingdom disability benefits are covered by Department for Work and Pensions. There are numerous ben ...

to members when they become partially or fully disabled, and provides death benefits to the deceased's heirs. OYAK is a private entity that is subject to Turkish civic and commercial law. OYAK, also offers services such as consumer loans, housing loans, pension system, stock market investment support to its members. OYAK is on the global

coal exit Coal phase-out is an environmental policy intended to stop using the combustion of coal in coal-burning power plants, and is part of fossil fuel phase-out. Coal is the most emission intensity, carbon-intensive fossil fuel, therefore phasing i ...

list published by

Urgewald Urgewald is a group that researches coal companies, because they are among the top contributors to greenhouse gas emissions and so cause climate change. The Global Coal Exit List, which they publish, is famous. Urgewald provided analysis to und ...

because it owns İsken Sugözü power station.

Structure

OYAK Group companies

In the industrial sector, th
OYAK Group 's companies
include iron and steel, chemistry, cement manufacturing, electricity and automotive.
OYAK Mining Metallurgy Group

OYAK Cement Concrete Paper Group

OYAK Automotive Logistics Group

OYAK Finance Group

OYAK Service Group

OYAK Chemical Group

OYAK Agricultural Livestock Group

OYAK Energy Group

Affiliated companies

Affiliated companies and investments include: * OYAK Construction (Oyak Insaat), founded 1982, in Turkey * OYAK Yatirim Ortakligi AS (investment company, part-floated on the

Istanbul Stock Exchange The Borsa İstanbul (abbreviated as BIST) is the sole exchange entity of Turkey combining the former Istanbul Stock Exchange (ISE) ( tr, İstanbul Menkul Kıymetler Borsası, IMKB), the Istanbul Gold Exchange ( tr, İstanbul Altın Borsası, İA ...

as OYAYO.IS) *

(49%) * OYAK Securities (Oyak Yatirim), founded 1982Oyak Yatirim
About Oyak Securities
/ref> * Erdemir (steel), acquired in 2005 * Opet (Oyak Petrolleri), founded 1992

Subsidiary companies

* OMSAN Lojistik AŞ; A

logistics Logistics is generally the detailed organization and implementation of a complex operation. In a general business sense, logistics manages the flow of goods between the point of origin and the point of consumption to meet the requirements of ...

company founded in 1978 as a subsidiary of OYAK. It has

subsidiaries A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a sa ...

France France (), officially the French Republic ( ), is a country primarily located in Western Europe. It also comprises of Overseas France, overseas regions and territories in the Americas and the Atlantic Ocean, Atlantic, Pacific Ocean, Pac ...

Romania Romania ( ; ro, România ) is a country located at the crossroads of Central Europe, Central, Eastern Europe, Eastern, and Southeast Europe, Southeastern Europe. It borders Bulgaria to the south, Ukraine to the north, Hungary to the west, S ...

Morocco Morocco (),, ) officially the Kingdom of Morocco, is the westernmost country in the Maghreb region of North Africa. It overlooks the Mediterranean Sea to the north and the Atlantic Ocean to the west, and has land borders with Algeria to ...

, and a company named OMFESA in

Spain , image_flag = Bandera de España.svg , image_coat = Escudo de España (mazonado).svg , national_motto = ''Plus ultra'' (Latin)(English: "Further Beyond") , national_anthem = (English: "Royal March") , i ...

. It has approximately 240 personnel, and a fleet consisting of 871 vehicles.

References

External links

www.oyak.com.trMilitary-Economic Structure in Turkey: Present Situation, Problems, and Solutions
İsmet Akça,

TESEV The Turkish Economic and Social Studies Foundation ( tr, Türkiye Ekonomik ve Sosyal Etüdler Vakfı, TESEV), based in Istanbul, is Turkey's leading think tank. The Turkish Economic and Social Studies Foundation (TESEV) is an independent non-gover ...

, July 2010.

The Turkish Aid and Institution Law, passed in 1961. {{Authority control Public pension funds Ministry of National Defense (Turkey) Turkish companies established in 1961 Financial services companies established in 1961 Companies based in Ankara Government-owned companies of Turkey Transport companies of Turkey Coal companies of Turkey