Banking and Finance
Turkey has very advance banking system which is already adapted to globally recognized regulations. Monetary and exchange rate policies have been managed independently by the Central Bank of the Republic of Turkey which is founded on 3 October 1931.
Basically, there are 3 different kinds of banks in Turkey. Conventional deposit banks, development or investment banks and participation (islamic) banks.
Banks are allowed to give different kinds of loans to individuals and legal entities both in local and foreign currencies. However, according to recent regulations, the government put some limits to both legal entities and real persons in case of using foreign currency loans.
There are many different types of financing methods apart from banks such as leasing and factoring.
There is no any prohibiton to transfer profit to shareholders’ residence countries.