Central Bank decision on Papara
The Central Bank of the Republic of Turkey (TCMB) has revoked the operating license of Papara Elektronik Para A.Ş.
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According to the decision published in the Official Gazette, the authorization granted to Papara on April 21, 2016, to operate as an electronic money institution has been withdrawn based on the decision of the Banking Regulation and Supervision Agency.
The decision stated that the revocation was made in accordance with the relevant articles of Law No. 6493 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions.