Permission from BDDK to change Adabank to a participation bank

The Banking Regulation and Supervision Agency (BDDK) allowed the change of Adabank’s qualification as a participation bank. The Banking Regulation and Supervision Agency (BDDK) allowed the change of Adabank AŞ’s qualification as a participation bank. The BDDK’s decision on the subject was published in the Official Gazette. The statement said, “As a result of the evaluation of the request to change the qualification of Adabank AŞ, which operates as a deposit bank, as a participation bank; it was decided to grant the Bank a permit to operate in the areas of “accepting participation funds” specified in subparagraph (b) of the first paragraph of Article 4 of the Banking Law No. 5411 and “financial leasing transactions” specified in subparagraph (t). With the decision, it was decided to cancel the Bank’s “accepting deposits” permit within the scope of the second paragraph of the said article.”