The Central Bank of the Republic of Turkey
("CBRT") launched its open banking
services by publishing a Press Release ("Press
Release") on 1st of December, 2022. In its Press
Release, CBRT referred to open banking services as a crucial part
of the digital economy roadmap of strengthening Turkish Lira and
extending its scope of use.
In this regard, CBRT has announced development of the
"GATE" infrastructure, which allows users manage their
accounts with various payment service providers from a single
access point and place payment orders. Moreover, GATE enables the
facilitation of the development of secure, effective, efficient,
low-cost, and innovative business models.
The Law on Payment and Securities Settlement Systems, Payment
Services and Electronic Money Institutions numbered 6493
("Law No. 6493") has introduced payment
initiation services and account information services.
