2.4.4. Cheque Clearing System

The ICH, established with the Law on Regulation of Payments by Cheque and Protection of Cheque Holders (The Law Number: 3167), performs its activities via Ankara and Istanbul Clearing Houses in accordance with the ICH regulation issued by the CBRT.

The smooth and efficient functioning of the cheque clearing system which has a vital role among the payment systems, is of utmost importance in order to fulfill the payments made by cheque. Therefore, with the aim of enhancing quality and efficiency of cheque clearing activities, technological developments and improvements have been fulfilled in the ICH. In this perspective, the technical infrastructure of the ICH was renewed in 2015 so that the cheque images could be transferred electronically and viewed by the member banks.

The volume and value of cheques cleared in the ICH in 2014 were 17.4 million and 403.9 billion TL, respectively. In 2015, the volume of cheques cleared 16.9 million and the value increased to 442.7 billion TL (Graph 30).