Draft Communique On Information Systems Of Related Financial Institutions

Introduction and Scope

On 6 November 2018, the Turkish Banking Regulation and Supervision Agency ("BRSA") have published the Draft Communiqué on Management and Auditing of the Information Systems of Financial Leasing, Factoring and Financing Companies ("Draft Communiqué") on their website.

The Draft Communiqué has been drafted to determine principles and procedures on the management and independent auditing of information systems of financial leasing, factoring and financing companies in Turkey (hereafter collectively referred as "Entities") that they use when conducting financial leasing, factoring and financing operations that fall under the scope of Law No. 6361 on Financial Leasing, Factoring and Financing Companies ("Law").