About Banking & Finance Law in Ankara, Turkey
Banking and finance law in Ankara, Turkey involves a complex mix of national and international regulations. This field covers a wide range of legal issues, such as banking transactions, project financing, investments, financial services, securities, insurance, and financial dispute settlements. The Banking Regulation and Supervision Agency (BRSA) is primarily responsible for overseeing the banking industry, while the Capital Markets Board (CMB) supervises the securities markets in Turkey.
Why You May Need a Lawyer
There are several scenarios where you may require legal assistance. If you are involved in complex banking & finance transactions, such as taking out large loans, or planning and managing sizable investments, a lawyer specialized in this field can provide indispensable advice and review the associated contracts. Furthermore, businesses may require legal support for executing commercial transactions, negotiating contracts, or dealing with regulatory authorities such as the BRSA or CMB. In cases of financial disputes, a lawyer can represent you and protect your interests.
Local Laws Overview
The key laws governing the banking and finance sector in Turkey are the Banking Law (No 5411) and Capital Markets Law (No 6362). These laws establish the rules for banking procedures, issuance of securities, banking crimes, and sanctions among others. They are implemented and enforced by BRSA and CMB respectively. Moreover, the Turkish Commercial Code also contains several provisions relevant to banking & finance.
Frequently Asked Questions
1. Can a foreigner open a bank account in Ankara?
Yes. Non-residents can open bank accounts in Turkey with the mandatory provision of a Turkish tax number, passport and proof of address.
2. What should I do if I am a victim of a banking fraud?
Immediately report the issue to your bank. You can also lodge a complaint with the Financial Crimes Investigation Board. If necessary, consult a lawyer to understand your rights and legal remedies available.
3. How can I penetrate the financial market in Ankara?
Start by understanding the local market, the regulatory environment, and financially sound investment opportunities. You may also want to engage a local banking & finance lawyer to guide you through the setup and operational requirements.
4. Are there specific regulations for online banking & finance services?
Yes. The BRSA issued Regulation on Banks' Information Systems and Electronic Banking Services which applies to online banking and finance services.
5. Where can I file a complaint against a financial institution?
The BRSA has a consumer helpline where you can lodge a complaint about a bank. For securities-related complaints, you can contact the CMB.
Additional Resources
There are numerous resources which can provide useful insights and information. The official websites of the Banking Regulation and Supervision Agency (BRSA) and the Capital Markets Board (CMB) are excellent starting points. Other beneficial resources include local law firm websites and legal information sites like HG.org. In addition, numerous consulting firms and legal advisors in Ankara specialize in banking & finance and can provide personalized advice.
Next Steps
If you need legal assistance, searching for a local lawyer specializing in banking and finance law would be your first step. Consider conducting thorough research into their reputation, expertise, and previous cases. It could also be beneficial to consult with different lawyers or firms to find the one that best fits your needs.
Disclaimer:
The information provided on this page is intended for informational purposes only and should not be
construed as legal advice. While we strive to present accurate and up-to-date information, we cannot
guarantee the accuracy, completeness, or currentness of the content. Laws and regulations can change
frequently, and interpretations of the law can vary. Therefore, you should consult with qualified legal
professionals for specific advice tailored to your situation.
We disclaim all liability for actions you take or fail to take based on any content on this page. If you
find any information to be incorrect or outdated, please
contact us, and we will make efforts to rectify it.
