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ARTICLE · 10 OCTOBER 2017

The Regulation Participation Insurance

Pekin Bayar Mizrahi (in alliance with Norton Rose Fulbright)
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The Regulation on the Operating Principles and Procedures of the Participation Insurance ("Participation Insurance Regulation")...

TurkeyInsurance
Senem Golge Yalcin
Senem Golge Yalcin
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The Regulation on the Operating Principles and Procedures of the Participation Insurance ("Participation Insurance Regulation") has been published in the Official Gazette dated 20.09.2017 and numbered 30186 and will enter into force within 3 months as of its publication.

General Definitions

As per the Participation Insurance Regulation, the participation insurance is defined as the type of insurance which is based on joint risk participation and cooperation where the participants contribute to the risk fund ("Risk Fund"), which is established to ensure the fulfilment of the compensation and/or saving payment requests of the participants and which is managed by an insurance company, in accordance with participation finance principles.

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