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Turkish Banking Regulation and Supervision Agency (BRSA)
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Turkish Banking Regulation and Supervision Agency (BRSA)

by FORORYMay 6, 2017
Overview
Abbreviation

BRSA, BDDK

Headquarters

Istanbul, Turkey

Area served

Turkey

Website

http://www.bddk.org.tr

Turkish Banking Regulation and Supervision Agency (BRSA)

The Banking Regulation and Supervision Agency (BRSA) or Bankacilik Düzenleme ve Denetleme Kurulu (BDDK) protects the rights and benefits of depositors; guarantees the trust and stability in financial markets; supports development of the finance sector and facilitates the efficient working of the credit system. The main responsibilities and powers of the Authority are as follows:

  • Regulating incorporation, management, organization, share exchange and similar procedures in banks, financial holding companies and partly in financial leasing and factoring companies; auditing to ensure compliance with such regulations
  • Reducing transaction and intermediation costs for more competitive banking operations, boosting competitiveness, activating market integration and operation, rendering the market transparent, and ensuring that the opinions of relevant bodies are reflected into regulations concerning financial markets
  • Inspecting the risk structures, internal controls, risk managements, internal audit systems, receivables, shareholder’s equities, payables, profit and loss accounts, liability and obligation balances as well all factors having impact on the financial structures of entities covered by the banking law for compliance with the principles of corporate management
  • Evaluating the annual financial reports issued by independent audit institutions
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