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ARTICLE · 14 MAY 2021

New Regulation On Remote Customer Identification

ELIG Gürkaynak Attorneys-at-Law
ELIG Gürkaynak Attorneys-at-Law
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ELIG Gürkaynak Attorneys-at-Law

ELIG Gürkaynak Attorneys-at-Law

ELIG Gürkaynak Attorneys-at-Law is an eminent, independent Turkish law firm based in Istanbul. The...

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The Regulation on Remote Identification Methods to be used by Banks and the Establishment of Contractual Relationships in Electronic Media ("Regulation") was published in the Official Gazette dated April 1, 2021...

TurkeyFinance and Banking
Gönenç Gürkaynak
Gönenç Gürkaynak
Nazlı Nil Yukaruç
Nazlı Nil Yukaruç
Büşra Üstüntaş
Büşra Üstüntaş
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  1. General Overview

The Regulation on Remote Identification Methods to be used by Banks and the Establishment of Contractual Relationships in Electronic Media ("Regulation") was published in the Official Gazette dated April 1, 2021 and numbered 31441 and entered into force after one month as of its publication. The Regulation was prepared based on the Draft Communiqué on Remote Identification Methods to be used by Banks, which was published by the Banking Regulatory and Supervisory Authority ("BRSA") as presented to the public opinion1.

The provisions of the draft communiqué were mainly reflected to the Regulation in terms of the remote identification method that banks may use for new customers and verification of customer identity. Unlike the draft communiqué, the Regulation also regulates the terms regarding the establishment of contractual relationships in electronic media following remote identification. This article will focus on the significant provisions

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