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Turkish Banking System,[object Object],Ekrem Tufan,[object Object],Assoc. Prof. Dr. (PhD),[object Object],Visiting Professor ,[object Object],School of Business Administration in Karvina  ,[object Object],December7, 2010,[object Object]
Contents,[object Object],History of Turkish banking system,[object Object],Ottoman Empire Period,[object Object],National Banks Period,[object Object],Public Banks Period,[object Object],Private Banks Period,[object Object],Planned Period,[object Object],Liberal Period,[object Object],Restructured Period,[object Object]
Contents,[object Object],Classification of Turkish banksandsomenumbers about Turkish bank system,[object Object],Commercial (deposit) banks,[object Object],Public banks,[object Object],Private banks,[object Object],Banks under supervision of Turkish Savings Deposit Insurance Fund,[object Object],Foreign banks,[object Object],Investmentanddevelopment banks,[object Object],Public banks,[object Object],Private banks,[object Object],Foreign banks,[object Object],Interest free Banks (Islamic Banks),[object Object],Last economic crisis and Turkish banking system,[object Object],References,[object Object]
History of Turkish Banking System,[object Object]
Ottoman Empire Period (1847-1923),[object Object],The first banknote was issuedby Ottoman Empirein 1840 for covering budget deficits,[object Object],The first bank was founded in 1847 namely İstanbul Bank by Galata Bankers who wereminority of the empire,[object Object],Ottoman Bank was founded in 1856. It can be accepted as a central bank. The bank was founded with British capital to act as anintermediary between Ottoman Government and the foreign lenders and financiers forprocurement of foreign debts. French interests became a partner to the Bank in 1863and Austrian interests in 1875,[object Object],Ziraat Bank was founded in 1888 to support agriculture,[object Object]
National Banks Period (1923-1932),[object Object],Turkish Republic was foundedby Ataturk in 1923,[object Object],Izmir Economy Congress held in 1923with the participation of the top officials of the government as well as leaders of the agriculture,commerce and industry sectors.,[object Object],Turkey’s first private bank was founded in 1924, namely Türkiye İşbankası.,[object Object],Turkey’s firstdevelopment bank was founded in 1925, namely Türkiye Sanayi ve Maadin Bankası (This Bank intended to disburse mediumand long-term loans to private industrial enterprises and offer them information onfinancial, economic and technical subjects),[object Object]
National Banks Period (1923-1932),[object Object],EmlakveEytem Bank was founded in 1927 for the purpose of extending housingloans.Then it’s name changed as Emlak ve Kredi Bank in 1946,[object Object],Turkish central bank was founded in 1930,[object Object]
PublicBanks Period (1933-1944),[object Object],Turkish economy characterized by agriculture in 1930’s,[object Object],Great depression generated low income people who feed on agriculture,[object Object],State economic enterprises started,[object Object],Some banks were founded by the state such as  Sümerbank (1933), Bank of Municipalities (1933), Etibank(1935), Denizcilik Bank (Turkish Maritime Bank)(1937)and Halk bank (People’s Bank)(1938),[object Object]
PublicBanks Period (1933-1944),[object Object],The First Industry Plan put the target of establishing 20 factories to be involved predominantlyin manufacturing industry,[object Object],The Second Industry Plan wasprepared in 1935 containing investment plans for about 100 industrial enterprises to beengaged in mainly mining and energy sectors,[object Object],Türk Ticaret Bankası (Turkish Trade Bank) was founded in 1930 which was the second private bank of Turkey,[object Object],Ataturk died in 1938,[object Object],Second world war,[object Object]
Private Banks Period (1945-1960),[object Object],Private sector improved,[object Object],Second World War  speculative atmosphere generated affluence class (rich people),[object Object],New era in politic area, Democrat Party which supports economic liberalismprincipals won the election in 1950,[object Object],Rapidincreases in investments, modern enterprises,national income and population, and growth of the cities,[object Object]
Private Banks Period (1945-1960),[object Object],Yapı veKredi Bank(1944), Garanti Bank(1946), Akbank (1948), Pamukbank (1955) and Türkiye SınaiKalkınma Bank(1950) have all been founded in thisperiod,[object Object],Risinginflation, swelling foreigntrade deficits and increasing external debts starting from 1953,[object Object],Stability Program announced in 1958, USdollar rate was increased to 9 lira from 2.8 lira,[object Object]
Planned Period (1960-1980),[object Object],Fromthe late 1950sstagnation started,[object Object],Closedeconomy applicationsstarted,[object Object],No new foreign banks and – except for some specific cases – no new commercialbanks were allowed to be founded,[object Object],A total of 7 banks - 5 development banks and 2 commercial banks – were founded duringthe planned period,[object Object],Firstbank founded directly by foreign capitalnamely American-Turkish Foreign Trade Bank,[object Object]
Planned Period (1960-1980),[object Object],Turkish commercial banks have become holding-banks,[object Object]
Financial Liberalization and Opening Period (1981-2001),[object Object],1980, a development policy that targeted opening-up the economy and producing forexports, based on market economy, was adopted in place of an industrialization strategy,[object Object],Flexible exchange rate and positive real interest rate policies have been started for thepurpose of supporting this new strategy,[object Object],Internationalsupervision andinternational banking standards have been introduced to the banking system (1985),[object Object]
Financial Liberalization and Opening Period (1981-2001),[object Object],All persons and entities resident in Turkey were allowedto hold foreign currencies and open foreign exchange deposit accounts,[object Object],The CentralBank of Turkey started toopen market operations in 1987,[object Object],Foreign exchange market wasestablished in 1988. It was an unofficial market. ,[object Object],Foreign exchange transactions and capital movements becamefree in 1989,[object Object]
Financial Liberalization and Opening Period (1981-2001),[object Object],Convertibility of Turkish Lira was announced in 1990,[object Object],Electronic fund transfers became functional in1992,[object Object],Legal and institutional structure required for capital markets instruments has been establishedvia Capital Markets Law in 1982.,[object Object],IstanbulStock Exchange started trading in1986.,[object Object]
Financial Liberalization and Opening Period (1981-2001),[object Object],New products and services such as consumer loans,credit cards, foreign exchange deposit accounts, leasing, factoring, forfeiting, swap,forward, future, option, automatic teller machines, point of sales terminalshave been introduced,[object Object],Turkish banking system in economic crisis in 1994,[object Object],Convergenceof Turkish banking sector withBasel Committee’s Recommendations, European Union directives, and other internationalregulations,[object Object]
Financial Liberalization and Opening Period (1981-2001),[object Object],The Banking Regulation and Supervision Agency (“BRSA”) was established for takingand putting into practice the decisions regarding banks’ start of operations, monitoringof their activities, supervision of their activities, deciding on the results of their audit andsupervision, and termination of the operation of a bank,[object Object],Turkish banking system went into crisis again! (1998),[object Object]
Restructured Period (2002-2007),[object Object],“Program for transition to strong economy”, put in the practice and cover 2004,[object Object],An amendment to the Central Bank Law defined it in clear words that the Bank’s duty isprice stability, and the Bank was delegated instrument independence, and a MonetaryPolicy Board was established,[object Object],State-owned banks were restructured, and collected under a joint management,[object Object]
2007 to today,[object Object],USA economic crisisstarted in 2009 and noone knows when it will end!,[object Object],Turkish Central Bank took thefollowing measures:,[object Object],• Resumed its activities as an intermediary inthe foreign exchange deposit market until theremoval of uncertainties in international markets(9 October 2008),[object Object],• Raisedits transaction limits by twofold toUSD 10.8 billion (23 October 2008) andextended the lending maturity to 1 month from 1week in the foreign exchange deposit market(21 November 2008),[object Object]
2007 to today,[object Object],Adopteda strategy to use foreign exchangereserves to primarily support the foreignexchange liquidity need of the banking system,[object Object],The reserve requirement ratio was unchangedat 6 percent in TL liabilities, but it was loweredto 9 percent from 11 percent in foreignexchange liabilities (28 November 2008) ,[object Object],Withthis measure, the Bank provided an additionalliquidity of USD 2.5 billion to the bankingsystem,[object Object]
2007 to today,[object Object],• Increased the exports rediscount credit limitby USD 500 million to USD 1 billion in order tocontain the effects of the global crisis onindustry sectors,[object Object],Additionally, the rules andprinciples applicable to the exports rediscountloan limit were rearranged for rendering the useof these loans easier,[object Object]
Contentsagain!,[object Object],Classification of Turkish banksandsomenumbers about Turkish bank system,[object Object],Commercial (deposit) banks,[object Object],Public banks,[object Object],Private banks,[object Object],Banks under supervision of Turkish Savings Deposit Insurance Fund,[object Object],Foreign banks,[object Object],Investmentanddevelopment banks,[object Object],Public banks,[object Object],Private banks,[object Object],Foreign banks,[object Object],Interest free Banks (Islamic Banks),[object Object],Last economic crisis and Turkish banking system,[object Object],References,[object Object]
How to work Islamic Banks?,[object Object],First interest free bank was founded in Egypt in 1963,[object Object],Interest free banking instruments:,[object Object],[object Object],Transactions can be based on only real things, no derivatives,[object Object]
How to work Islamic Banks?,[object Object],When you chose the goods for murabaha you have to obey Islamic rules such as not choosing alcohol or cigarettes,[object Object],Ownership of goods for murabaha transactions will be Islamic bank till tobe sold,[object Object],The goods should be bought from a different company. So, If a company has different branches it can not apply murabaha betweenthem,[object Object],[object Object],This is a basic consumer credit and mortgage credit application.  One difference is Islamic bank do not give credit to customer as money,[object Object]
How to work Islamic Banks?,[object Object],[object Object]
Goods against documents financing: Profit&lossIslamic bank buys goodsagainst documents by cash and sell them forward,[object Object],The goods should be real,[object Object],[object Object], This is simple joint venture application. Bank be a partner especially industry investments. It is alsopossible fortrade goods,[object Object]
How to work Islamic Banks?,[object Object],Descendingmüşaraka: All shares will be bought by the company from the bank in the future,[object Object],Permanentmüşaraka: Being partnership continues at the end of the project,[object Object],[object Object],Bank puts money to invest while company puts just labor force and know-how,[object Object],The bank asks profit rate from the company,[object Object],We can call it as venture capital,[object Object]
How to work Islamic Banks?,[object Object],[object Object],We can callit as forward transactions,[object Object],It supports working capital of companies,[object Object],Bank pay for good in spot market with determineddeliverydate and price,[object Object],Exception transactions looks like salam transactions but there are few differences,[object Object],[object Object],This is a simple asset backed securities transaction,[object Object],[object Object],The main difference from the normal insurance system is taking consider where the portfolio money was spend,[object Object]
Contentsagain!,[object Object],Classification of Turkish banksandsomenumbers about Turkish bank system,[object Object],Commercial (deposit) banks,[object Object],Public banks,[object Object],Private banks,[object Object],Banks under supervision of Turkish Savings Deposit Insurance Fund,[object Object],Foreign banks,[object Object],Investmentanddevelopment banks,[object Object],Public banks,[object Object],Private banks,[object Object],Foreign banks,[object Object],Interest free Banks (Islamic Banks),[object Object],Last economic crisis and Turkish banking system,[object Object],References,[object Object]
Source: Basci Erdem, www.tcmb.gov.tr,[object Object]
Source: Basci Erdem, www.tcmb.gov.tr,[object Object]
Source: Basci Erdem, www.tcmb.gov.tr,[object Object]
Source: Basci Erdem, www.tcmb.gov.tr,[object Object]
Some Turkish banking indicators (2010),[object Object]
Turkish banking system
S&P revises Turkey Banking andcountry risk assessment,[object Object],The following statement was released by the rating agency at 25 April 2010:,[object Object],The Turkish banking system is now more resilient to shocks,[object Object],Banks currently carry moderate levels of nonperforming and restructured loans ,[object Object],Turkey's system-wide credit profile is not threatened with the potential unwinding of a real estate bubble,[object Object],System-wide funding is supported by good retail franchises, but banks have a relatively short maturity funding profile and consequently the system shows a mismatch between assets and liabilities,[object Object]
Turkey's Banking Regulation & Supervision Agency’s(BDDK),[object Object],This banking report released by BDDK in June 2010:,[object Object],Turkish banking sector's capital adequacy ratio (CAR) was posted as 19.2 percent in June, 2010,[object Object],The banking sector's net profit in June, 2010 increased 10.1 percent and reached 12.1 billion Turkish lira (TL) when compared to the same period of 2009 (1 USD equals 1.5 TL),[object Object]
Turkey's Banking Regulation & Supervision Agency’s(BDDK),[object Object],Banking sector obtained 56.7 percent of its profit from private banks, 28.7 percent from state banks, 7.7 percent from foreign banks, 3.6 percent from development and investment banks, and 3.1 percent from participation banks,[object Object],The sector's number of personnel increased 4,489 to 188,694 and the number of branches rose 147 to 9,728 in the first half of 2010,[object Object]
Turkey's Banking Regulation & Supervision Agency’s(BDDK),[object Object],Banking sector grew 3.2 percent in the first quarter of 2010 and the loans of the sector rose 15.8 percent in the first half of 2010,[object Object],According to the report, banking sector's equities increased 2.1 percent and reached 119.3 billion TL in the second quarter of 2010,[object Object]
References,[object Object],http://www.tbb.org.tr/eng/Arastirma_ve_Yayinlar/Yayinlar_Detay.aspx (The presentation mainly prepared from this source),[object Object],http://www.tkbb.org.tr/index.php?option=com_content&task=blogsection&id=30&Itemid=382,[object Object],Eken Mehmet Fehmi, Faizsiz Bankacılık Modelleri ve Türkiye Uygulamaları, Unpublished MBA Thesis, 2005, www.yok.gov.tr,[object Object]
References,[object Object],http://www.bddk.org.tr/WebSitesi/english/Announcements/Press_Releases/76675%20mart%20tarihli%20bas%C4%B1n%20a%C3%A7%C4%B1klamas%C4%B1%20terc%C3%BCme.pdf,[object Object],http://www.google.com/url?sa=t&source=web&cd=4&ved=0CDMQFjAD&url=http%3A%2F%2Fwww.reuters.com%2Farticle%2FidUSWNA900020100421&ei=-2zwTIvJLo2VOu_6mfoJ&usg=AFQjCNFfe5n7B6MmIJCMyg_HXq5fcmhEcA,[object Object]

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