CBRT issues 'assurance' warning regarding Papara Elektronik Para AŞ: Trustee and limit announcements follow one another
In a statement, the Central Bank of the Republic of Turkey (CBRT) announced that the Savings Deposit Insurance Fund (TMSF) has been appointed as a trustee for Papara Elektronik Para AŞ (the Institution), stating, "Within the scope of Article 22 of Law No. 6493, the funds of payment service users in payment and electronic money institutions are under protection in safeguard accounts held at banks."
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Within the scope of the investigation numbered 2024/231483 by the Istanbul Chief Public Prosecutor's Office, based on reports from the Central Bank of the Republic of Turkey (CBRT), the Financial Crimes Investigation Board (MASAK), and other relevant institutions, the Savings Deposit Insurance Fund (TMSF) has been appointed as a trustee for Papara Elektronik Para A.Ş. (the Institution) by the relevant court.
A press release was issued by the CBRT regarding Papara Elektronik Para AŞ.
The statement, which noted that the TMSF was appointed as a trustee for Papara Elektronik Para AŞ by the relevant court within the scope of the investigation numbered 2024/231483 by the Istanbul Chief Public Prosecutor's Office, based on reports from the CBRT, the Financial Crimes Investigation Board (MASAK), and other relevant institutions, included the following: "In this process, which will be carried out in coordination with the relevant institutions, temporary daily limits will be applied to payment transactions at the Institution.
Details will be announced by the Institution.
Within the scope of Article 22 of Law No. 6493, the funds of payment service users in payment and electronic money institutions are under protection in safeguard accounts held at banks."
The statement, which conveyed that the CBRT continues its oversight and audit activities to ensure that payment and electronic money institutions operate in a safe, uninterrupted, effective, and efficient manner, reported that active payment and electronic money institutions and the scope of their operating licenses can be accessed at "https://www.tcmb.gov.tr/wps/wcm/connect/TR/TCMB%20TR/Main%20Menu/Temel%20Faaliyetler/Odeme%20Hizmetleri/Elektronik%20Para%20Kuruluslari".