Communiqué on international bank account numbers amended to allow payment service providers to issue IBANs – Finance and Banking

Turkey: International Bank Account Numbers Communiqué amended to allow payment service providers to issue IBANs

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Numbered press release 2021/5 (the “Change notice“), published in the Official Journal of August 5, 2021, numbered 31559, amends Communiqué number 2008/6 on International Bank Account Numbers (the”Communicated“) to enable payment service providers to issue international bank account numbers (“IBAN“), as following:

  • Section 1, as amended, now reads as follows: “The purpose of this Communiqué is to determine the principles and methods of application of the international bank account number by payment service providers.. “
  • Subparagraph d) of the first paragraph of Article 3, as amended, now reads:

d) Client: Natural and legal persons receiving the service of payment service providers, “

  • Section 3 is amended to include the following new paragraph (e):

e) Payment service provider: Establishments listed in the first paragraph of article 13 of the law on payment and securities settlement systems, payment services and electronic money establishments of 6/20/2013 and numbered 6493. “

In addition to the above changes, the amendment release provides that (i) the payment service provider codes to be used for the issuance of IBANs will be determined by the Central Bank of the Republic of Turkey, and (ii) non-bank payment service providers can issue IBANs. for customer accounts that are the subject of money transfers, but are only required to do so when the applicable rules of payment systems established in accordance with Law No. 6493 on payment systems and securities settlement, payment services payment and electronic money institutions require it.

Please see this connect for the full text of the Change Notice. (Only available in Turkish)

Information first published in the
MA | Gazette, a bimonthly legal newsletter produced by Moroğlu Arseven.

The content of this article is intended to provide a general guide on the subject. Specialist advice should be sought regarding your particular situation.

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