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ARTICLE · 09 JUNE 2021

Turkey Publishes Bank Client Confidentiality Regulation

Esin Attorney Partnership
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The confidentiality obligation is drafted similarly to Article 73 of the Law. Accordingly, bank and client secrets will not be disclosed to anyone except those legally authorized.

TurkeyFinance and Banking
Muhsin Keskin
Muhsin Keskin
Ilay Yilmaz
Ilay Yilmaz
Büşra Cavas
Büşra Cavas
Yigit Acar
Yigit Acar
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Recent Developments

Article 73 of the Banking Law No. 5411 ("Law") authorizes the Banking Regulatory and Supervisory Authority ("BRSA") to determine the scope, form, procedures and principles regarding the sharing and transferring of client information. Accordingly, the BRSA previously published the "Draft Regulation on the Sharing of Client Information", which we analyzed in our Legal Alert dated February 23, 2021. Accordingly, the Regulation on Disclosure of Client Information (the "Regulation") was published in the Official Gazette dated June 4, 2021 and No. 31501. The Regulation will enter into force on January 1, 2022.

What's New?

" Confidentiality Obligation:

  • The confidentiality obligation is drafted similarly to Article 73 of the Law. Accordingly, bank and client secrets will not be disclosed to anyone except those legally authorized.

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