CBRT's general assembly move: 'Normalization'

The Extraordinary General Assembly of the Central Bank of the Republic of Turkey (CBRT) was held at the Headquarters under the chairmanship of CBRT Governor Fatih Karahan.

THE PROVISION WAS ADOPTED UNANIMOUSLY

During the meeting, the agenda item regarding the amendment of the provision in the CBRT Articles of Association, which was changed in 2019 from "General assembly meetings shall be held within three months from the end of each fiscal year and on a day to be determined by the Board of the Bank" to "General assembly meetings shall be held in April of each year and on a day to be determined by the Board of the Bank" was discussed.

The amendment proposed for the CBRT Articles of Association was adopted unanimously in the vote held at the meeting.

The CBRT used to hold its General Assembly meetings in April until 2019. The Extraordinary General Assembly meeting concluded following the vote.

CBRT Governor Fatih Karahan stated that holding the general assembly in April is part of the normalization process. Karahan remarked, "The CBRT General Assembly was already held in April until a few years ago. We have a normalization process. We are returning to factory settings. We are primarily doing this in monetary policy, but this is also a part of it."

News Source: 12punto