Buckle Up: The TCA Published Its Long-Awaited Decision On The Banking Sector

The banking sector has always been at the center of the global economy. From retail banking to syndicated loans, financial institutions provide a variety of services to individual customers and businesses. With the increasing technology and financial innovation, banks are positioned to provide their services on a global scale and emerge as one of the driving forces of the world's economy.

Due to its critical position in the global economy, banking services usually entail various regulatory rules and enforcement actions. In 2020, the Turkish Competition Authority ("TCA") launched a preliminary examination to determine whether the financial institutions operating in Turkey have violated Law No. 4054 ("Competition Law").