1.1.5. Financial Benefits for Senior Management

In line with articles 19, 22/A, 24 and 33 of the CBRT Law No:1211, the representation allowances and monthly salaries of the Governor and Deputy Governors as well as monthly salaries and compensations of the Board members and MPC members, and the salaries of the Auditing Committee members are determined by the Council of Ministers. Accordingly, in 2016, the gross amount paid to the Governor, members of the Board, Executive Committee, MPC and Auditing Committee of the Bank was 5,508,152 Turkish liras. This amount accounts for approximately 1 percent of the total salaries and fringe benefits paid to the bank staff in 2016.

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