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In June 2013, the Law on Payment and Securities Settlement
Systems, Payment Services and Electronic Money (Law No. 6493) (the
Payment Services Law or Law)
entered into force. In accordance with the Payment Services Law,
secondary regulations have been enacted on 27 and 28 June 2014, by
both the Banking Regulation and Supervision Agency
(BRSA) for payment, electronic money
(e-money) institutions and the Central Bank of the
Republic of Turkey (CBRT) for payment, settlement
system operators.
Issued by the BRSA on 27 June 2014 are (i) the Regulation on
Payment Services, E-Money Issuance, Payment and E-Money
Institutions (BRSA Regulation) and (ii) the
Communiqué on Management and Audit of Information Systems of
Payment and E-Money Institutions (BRSA
Communiqué). Issued by the CBRT on 28 June 2014 are
(i) the Regulation on Activities of Payment and Securities
Settlement Systems (CBRT Activities Regulation)
and (ii) the Regulation on Supervision of Payment
