According to information shared on the official website of the Central Bank of the Republic of Turkey (CBRT), the Central Bank has become the controlling shareholder of the Interbank Card Center (BKM).
The Central Bank made an announcement regarding its becoming a shareholder in BKM. The announcement recalled that, under Law No. 7192 and the provisions of the Law on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions, the Central Bank was given the authority to become a shareholder in existing or future systemically important system operators in order to ensure the uninterrupted operation of payment and securities settlement systems. The announcement noted that BKM operates under the permissions it has received from the Central Bank and that, because of the activities it carries out, BKM is regarded as a systemically important system operator for payment systems.
The announcement stated that the Central Bank has identified important areas for development in the payments infrastructure and innovative ways of doing business, and said: "In line with the work to be carried out in this respect, BKM is planned to take on important duties in addition to the roles it currently undertakes, which focus mainly on card payments. In this context, the CBRT has become a shareholder in BKM as the controlling shareholder, pursuant to the fourth paragraph of Article 8 of Law No. 6493."
The official statement made by the Central Bank is as follows:
"Pursuant to the provision added as the fourth paragraph of Article 8 of Law No. 6493 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions by Law No. 7192 dated 12 November 2019, the Central Bank of the Republic of Turkey (CBRT) has been given the authority to "become a shareholder in existing or future systemically important system operators in order to ensure the uninterrupted operation of payment and securities settlement systems."
Interbank Card Center Inc. (BKM) operates under the permissions it has received from our Bank and, because of the activities it carries out, is regarded as a systemically important system operator for our country’s payment systems.
The CBRT has identified important areas for development in the payments infrastructure and innovative ways of doing business. In line with the work to be carried out in this respect, BKM is planned to take on important duties in addition to the roles it currently undertakes, which focus mainly on card payments. "
In this context, the CBRT has become a shareholder in BKM as the controlling shareholder, pursuant to the fourth paragraph of Article 8 of Law No. 6493.
This is announced for the information of the public."
