SWIFT AMENDMENTS TO THE E-MONEY REGULATIONS: MASSIVE HIKES IN REQUIREMENTS FOR INSTITUTIONS:

Long Awaited Regulations Introduced for E-Money and Payment Services:

New regulations concerning payment services have been introduced in Turkey, with the aim of aligning the provisions with the Payment Services Directive 2.

Three State-Owned Banks are Set to Establish Islamic Finance Units:

With more than 600 institutions worldwide and with estimated $ 1.4 trillion Sharia-compliant assets in 2014, Islamic Finance (“participation banking”) market in Turkey keeps growing and such growth is likely to continue in the future.

Borsa Istanbul Is Ready to Offer Its Shares to the Public:

The Decree on the initial public offering (“IPO”)of Borsa Istanbul Anonim Sirketi (Istanbul Stock Exchange Market) (“Borsa Istanbul”) shares issued by the Council of Ministers has been published in the official gazette on November 14, 2014.