CBRT revokes operating license of Parakolay Elektronik Para A.Ş.

The Central Bank's decision was published in the Official Gazette; Parakolay's operating license as an electronic money institution has been terminated.

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CBRT revokes operating license of Parakolay Elektronik Para A.Ş.

The Central Bank of the Republic of Türkiye (CBRT) has revoked the operating license of Parakolay Elektronik Para A.Ş. The decision was published in the Official Gazette dated October 10, 2026, numbered 33396, and has entered into force.

According to the notification in the Official Gazette, the authorization granted to the company on July 28, 2022, to operate as an "electronic money institution" has been terminated.

In the CBRT's decision dated October 7, 2026, numbered 12100/21699, it was stated that the revocation was carried out in accordance with the eighth paragraph of Article 21 of the Law No. 6493 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions.

With this decision, Parakolay Elektronik Para A.Ş.'s authority to issue electronic money and provide payment services has been removed.

News Source: 12punto