Banking Regulation and Supervision Agency

Hepsiburada's 'Online Bazaar' wooing Turkish shoppers

"Online Bazaar," a new investment by Turkey's Hepsiburada.com, a market leader in the country's online retail sector, has attracted great interest from users since being launched in early 2016.

More than 2,000 stores have applied to be part of the application, according to Hanzade Do?an Boyner, the executive chairwoman of Hepsiburada.com. 

Two Iranian lenders plan to enter Turkish market: Watchdog

Two lenders from Iran are planning to take license to do business in the Turkish market, said the head of Turkey's banking watchdog. 

"We have taken demands from Iranian banks. Two Iranian lenders want to take banking license in Turkey," said the head of the Banking Regulation and Supervision Agency (BDDK), Mehmet Ali Akben, on March 16. 

Over 2,000 jewelry stores close down amid losses in domestic, foreign markets

Around 2,000 jewelry stores were closed down in Turkey last year as jewelry spending has decreased amid limitations on credit card installments and consumers instead spending on electronics and vacations, according to sector representatives.

The sector has also been losing blood amid dramatic decreases in neighboring countries, including Iraq, Egypt and Russia, they added. 

Banking sector profits up by 5.6 pct in 2015

The combined net profit of Turkey's banking sector was up 5.6 percent, reaching approximately 24 billion Turkish Liras ($8.2 billion) year-on-year in the first 11 months of 2015, the Banking Regulation and Supervision Agency (BDDK) said in a written statement on Dec. 29.

Assets also increased by 17.5 percent in the same period, added the statement. 

Turkey's banking watchdog vows to help Turkish companies with ties to Russia

The head of Turkey's Banking Regulation and Supervision Agency (BDDK), Mehmet Ali Akben, has said Turkish companies with business ties to Russia were not having difficulty paying their loan debts, but the watchdog will take the required measures to help them in restructuring their debts if they begin to encounter problems. 

Turkish state fund puts 94.44 pct of local lender Adabank up for sale again

Turkey's Savings Deposit Insurance Fund (TMSF) will again put local lender Adabank up for auction on Feb. 23, 2016, after previous auctions did not yield results, as was announced in the Official Gazette on Nov. 21. 

The insurance fund has put an appraisal price of $60 million on some 94.4 percent of Adabank, $17.5 million less than the previous 2014 appraisal price.

Turkish watchdog to revise Islamic banking regulations

The head of Turkey's banking watchdog has pledged to revise the regulations governing the Islamic banking sector to increase the popularity of the sector in the country.

Mehmet Ali Akben, president of the Banking Regulation and Supervision Agency (BDDK), said there was a strong need for changes to the rules governing what are known as "participation banks" in Turkey.

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