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The Asset Management Regulation, published in the Official Gazette dated 14 July 2021, has amended the organisation and activities of asset management companies. This regulation requires obtaining authorisation from the BRSA before establishing such companies, as well as setting a minimum paid-in capital requirement of 50 million lira free from any kind of fraud or third-party interference. This is an increase from the previous requirement of 20 million lira.1
Law No. 5411 governs the provision of credit references and credit information services. Lending activities are prohibited for payment institutions and e-money institutions. Furthermore, the Banks Association of Turkey has founded a Risk Centre that accumulates risk information concerning clients of credit institutions to other applicable financial organisations recognised by the BRSA. This data is shared with these specific entities or persons if given consent.1
