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ARTICLE · 19 JANUARY 2022

Regulation On Remote Identification Methods For Leasing, Factoring, Financing And Savings Financing Companies Published

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The Regulation on Remote Identification Methods to be used by Leasing, Factoring, Financing and Savings Financing Companies and the Establishment of Contractual Relationships through Electronic Media ("Regulation")...

TurkeyFinance and Banking
Muhsin Keskin
Muhsin Keskin
Ilay Yilmaz
Ilay Yilmaz
Berfu Oztoprak
Berfu Oztoprak
Büşra Cavas
Büşra Cavas
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Recent development

The Regulation on Remote Identification Methods to be used by Leasing, Factoring, Financing and Savings Financing Companies and the Establishment of Contractual Relationships through Electronic Media ("Regulation") was published on January 11, 2022 in the Official Gazette No. 31716 and will enter into force on February 11, 2022. You can read more about the Regulation here (in Turkish).

What Does the Regulation Cover?

The Regulation sets out the terms relating to the remote identification methods that leasing, factoring, financing and savings financing companies ("company/companies") can use for the acquisition of new clients and client identity verification, as well as the establishment of contractual relationships through electronic media following remote identification. Accordingly, the Regulation enables non-bank financial institutions to acquire clients remotely.

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