The Banks Association of Turkey was founded in 1958. It is a professional organization, which is a legal entity with the status of a public institution, established pursuant to Article 79 of the Banks Act. The head office of the Association is in Istanbul.The purpose of the Association is to preserve the rights and benefits of banks, to carry on studies for the growth of the banking sector, for its robust functioning and the development of banking profession, strengthening of competition power, to take the decisions/ensure that they are taken to prevent unfair competition, to implement and demand implementation of these decisions, in line with the principles of open market economics and perfect competition and the regulations, principles and rules of banking.
All deposit banks, development and investment banks operating in Turkey are obliged to become members of this Association at most a month after they get their permit of operation, and to comply with the provisions of this Statute, and to implement the decisions taken by the authorized bodies of the Association.
Organs of the Association consist of the General Assembly, the Board of Directors, and the Auditors. The decision making body is the General Assembly and the executive body is the Board of Directors. There also exists the Secretariat General and the Advisory Board in the Association.
The General Assembly consists of the representatives of member banks. The General Assembly performs the following duties;
The members of the Board of Directors are elected by the General Assembly. The banks are grouped as the following. Each group elects members by balloting among themselves in the General Assembly. Considering deposit banks according to the year-end balance sheets; the Board consists of;8 members from the group consisting of ten banks with the highest total assets in the sector,3 members from the group consisting of eight banks following in rank the ten banks constituting the above group in terms of total assets, 1 member from the group of banks ranking after the banks constituting the aforementioned two groups in terms of total assets.1 member from the development and investment banks.
The members of the Board of Directors are elected for a term of two years. Members having completed their terms of office may be re-elected. The duties of the Board are as follows;
Banks are represented in the Association by either the Chairman of the Board of Directors, the Managing Director, the General Manager or by the Acting General Manager.
The Chairman of the Board of Directors represents the Association and is responsible for the implementation of the resolutions of the General Assembly and the Board of Directors.The Chairman of the Board of Directors is elected by the Board of Directors among the general managers of the banks represented in the Board of Directors. The term of office of the Chairman of the Board of Directors is limited with the term of office of the Board of Directors. The Board of Directors elects the Acting Chairman among the general managers of the banks represented in the Board of Directors, to serve for a period of two years.
The General Assembly elects 3 banks as auditors for a term of two years. Auditors present the results of the activities of the Association in a joint report after examining all accounts and transitions prior to the anuual meetings of the General Assembly.
BAT’s financial accounts and procedures are also audited by an independent external auditing firm.
The Advisory Board is the consultative unit of the Board of Directors. The Advisory Board is composed of the members elected by the Board of Directors of the banks represented in the Board of Directors among the candidates nominated by the majority shareholders of those banks and notified to the Chairman of the Board of Directors.
The term of office of the Advisory Board is limited with the term of office of the Board of Directors. The decisions of the Advisory Board are advisory in nature and are notified to the Board of Directors.
Secretary General is appointed by the Board of Directors. The duties and powers of the Secretary General are as follows;