Recent Development
The Banking Regulatory and Supervisory Authority
("BRSA") presented the Draft
Communiqué on Remote Identification Methods to be used by
Banks
("Draft Communiqué")
with an expected effective date of January 1, 2021. The Draft
Communiqué was prepared in accordance with Article 76 of the
Banking Law No. 5411 ("Banking Law") on
September 21, 2020 for the public opinion.
What's New?
The BRSA amended Article 76 of the Banking Law and introduced
electronic agreements for banking services in the past months. You
can refer to our
legal alert dated June 29, 2020 for more
information.
The Draft Communiqué introduces the remote identification
methods that banks can use for the acquisition of new clients and
verification of client identity.
