BDDK's decision regarding two banks published in the Official Gazette

The BDDK, through its decision, has granted deposit bank Adabank permission to operate as a participation bank. The BDDK has also granted Türkiye Emlak Katılım Bankası permission to issue debit and credit cards. The BDDK decisions regarding the two banks were included as separate articles in the Official Gazette dated November 28, 2023.

DECISION REGARDING ADABANK

The decision regarding ADABANK was published in the Official Gazette as follows:

"As a result of the evaluation of the request to change the status of Adabank A.Ş., which operates as a deposit bank, to a participation bank, it has been decided to grant permission to operate in the areas of 'acceptance of participation funds' and 'financial leasing transactions,' and to cancel the permission for 'acceptance of deposits'."

DECISION REGARDING TÜRKİYE EMLAK KATILIM BANKASI

The decision regarding Türkiye Emlak Katılım Bankası was published in the Official Gazette as follows:

It has been decided to grant Türkiye Emlak Katılım Bankası A.Ş. permission to establish a debit and credit card system, issue cards according to this system, and enter into merchant agreements, in accordance with Article 4 of the Bank Cards and Credit Cards Law No. 5464 and the second paragraph of Article 11 of the Regulation on Bank Cards and Credit Cards, provided that the provisions regarding support services planned to be obtained within the framework of the first paragraph of Article 35 of the Banking Law No. 5411 are reserved, and that maximum sensitivity is shown regarding the integration of credit card products into core banking systems, as well as other potential technological risks and customer complaints that may arise from the provision of credit card products.

News Source: 12punto