2.4.1. Developments in Payment Systems Regarding the Legal Framework

In accordance with the “Law on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions” No. 6493, dated 20 June 2013 and the “Regulation on Operations of Payment and Securities Settlement Systems” which has been prepared by CBRT and entered into force by publication in the Official Gazette No. 29044, dated 28 June 2014, the “Communique on Information Systems used by Payment and Securities Settlement Systems”, which covers principles and procedures regarding information systems to be used in order to carry out activities of payment and securities settlement systems, was approved by the CBRT’s Board (dated 17 December 2015) and entered into force after being published in the Official Gazette No. 29588, dated 9 January 2016.