Which information and documents must be sent to the BRSA to obtain a payment institution or electronic money institution operating license?
The information and documents that must be sent to the Central Bank in operating license applications made under Articles 14 and 18 of the Law to operate in the field of payment services or to issue electronic money in Türkiye are listed in the first and second paragraphs of Article 8 of the Regulation. In operating license applications, these information and documents must be submitted to the Central Bank in full.
What does the application file usually include?
The application file shows the institution's structure and readiness: shareholder and management information, the business plan, a description of the information systems, the internal control and risk management units, the capital document and the fit-and-proper documents for managers.
There is also a change worth noting: the licensing and supervisory authority over payment and electronic money institutions passed to the Central Bank at the beginning of 2020. Therefore, for a current application, the guides and forms published by the CBRT should be used.
Since missing or inconsistent documents will lengthen the process, it is useful to run a preliminary check before applying.
