BRSA Fines 13 Banks

last week Central Bank of the Republic of Turkey With the (CBRT) interest rate cut, the exchange rate started to move again. After the CBRT’s move Banking Regulation and Supervision Agency (BDDK), to individual and corporate customers transactions in line with the purpose of the loans He stated that he has instructed banks to provide controls for the use of

As a result of the inspections carried out upon the instruction, to banks that do not establish some control mechanisms in a timely manner. decided to impose a fine. According to the BRSA’s decision, 13 banks will each pay a fine of 50 thousand TL.

The penalty was given from the lower limit:

The Banking Regulation and Supervision Agency had previously warned banks to make frequent checks to ensure that loans are not used in transactions contrary to their intended use. Also, customers’ credit control of usage areas. He was urged to show sensitivity. These warnings, especially targeting crypto money and foreign exchange investors, were discussed a lot. Now, the BRSA offers banks that it has determined that the control mechanisms that will be needed to monitor the proper use of loans are not established in a timely manner. money penalty decided to implement it.

Officials from the Banking Regulation and Supervision Agency prepared a report by working on this issue. The report was submitted to the Banking Regulation and Supervision Agency. Examining the reports, the Board stated that banks have developed some control mechanisms in this regard, but that some internal audit mechanisms are not working. not created on time came to the conclusion. The BRSA decided to impose a penalty between 50 thousand TL and 500 TL in accordance with article 148/b to the banks that do not take the necessary measures in time. The 13 banks in question were fined 50 thousand TL, which is the lower limit of the fine.

The justification for the penalty foreign currency or crypto asset investments with loans It was not that an improper action had been taken against him. However, banks were penalized on the grounds that they did not prepare an internal audit mechanism to control such inappropriate use.