PART 1 GENERAL INFORMATION

Established as a joint stock company on 30 June 1930, the CBRT commenced operations on 3 October 1931 in Ankara.

The CBRT’s capital amounts to TRY 25,000 and is divided into four classes of shares designated as “A,” “B,” “C,” and “D.” Class A shares belong to the Turkish Treasury and by law cannot amount to less than 51 percent of the Bank’s total capital. Class B shares are held by nationally-owned banks operating in Turkey. Class C shares are held by non-national banks and by privileged companies. Class D shares are held by Turkish commercial enterprises and by real persons and legal entities qualified as Turkish citizens. At end-2018, these shareholding interests corresponded to 55.12 percent (A), 25.74 percent (B), 0.02 percent (C), and 19.12 percent (D) of the CBRT’s capital.

The Grand National Assembly of Turkey delegated its constitutionally-mandated authority to print banknotes to the CBRT indefinitely. Thus, the CBRT is the sole entity in Turkey that is allowed to print and issue banknotes.

The Bank’s primary objective is defined as “achieving and maintaining price stability.” The CBRT is also granted with the authority to set and manage monetary policy along with the tools to serve this purpose. In addition, the Bank introduces regulatory measures concerning money and FX markets that will ensure stability in the financial system. On the other hand, the CBRT is also charged with supporting the government’s growth and employment policies insofar as they do not conflict with its own primary objective of price stability.

At the end of 2018, the CBRT had 20 departments and 21 branches located in various provinces, economic consultants and attaches assigned to the Turkish Ministry of Foreign Affairs representative offices in Frankfurt, London, New York, Tokyo, and Doha. Employing a total of 3,805 people within a dynamically changing structure to monitor the developments in Turkey and abroad closely, the CBRT performs its tasks while conducting its operations in accordance with the CBRT law and the duties and authorities with which it is charged.