Real Estate Bank Is Back

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A resolution that opened Real Estate Bank the opportunity to return to the financial market, eliminating its liquidation was made on May 17 at the General Assembly.

This resolution about Estate Bank is aimed at regulating its activities. For Real Estate Bank, liquidation was canceled as of the effective date of this resolution for the purpose of carrying out its banking activities after obtaining permits provided for by relevant legislation in accordance with the Charter to be determined by the General Assembly.

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All powers and obligations arising from the relevant legislation and the original contract, as well as the powers and responsibilities of all bank operations will be transferred to the board until the new main contract is adopted by the General Assembly. Until this moment, the Minister of the Treasury will be responsible and will be responsible for the nuances that may arise in the implementation of this provision.

June 1, 1946 the bank, which was founded under the name "Emlak and Eitham Bank". September 3, 1926 at the direction of Ataturk, was transformed into ‘Turkey Emlak Kredi Bankasi’. In the late 1980s, banking operations and deposits were terminated and liquidated in accordance with Law No. 4684, which was published in the official newspaper on July 3, 2001.

 Finance Minister Naci Agbal said that the main purpose of the discussions in the legislative and budgetary commission is to open the way for the bank to restructure the real estate. In other words, the return of the bank to the Turkish financial market.

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