1.1.7. Financial Benefits for Senior Managers

In line with articles 19, 22/A, 24 and 33 of the CBRT Law, the salaries and the representation allowances of the Governor and Vice Governors, salaries and remuneration of the Board members and MPC members and salaries of the Auditing Committee members are determined by the Council of Ministers. Accordingly, in 2012, the amount of gross salaries paid to members of the Board, the Executive Committee, MPC and Auditing Committee of the Bank was TL 3,954,883. This amount accounts for 1 percent of total salaries and fringe benefits paid to the bank staff in 2012.