Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
The Foreign Exchange-Protected Deposit scheme, known as KKM, has come to a complete end after total balances in the accounts dropped to zero, according to weekly data from the Banking Regulation and Supervision Agency (BDDK).
Selling pressure intensified on Istanbul’s stock exchange today following a court ruling of "absolute nullity" regarding the main opposition CHP congress. The benchmark BIST 100 index plunged over 6%, triggering a market-wide circuit breaker. The banking index took an even heavier hit, dropping more than 8% to close at 13,163 points.
Turkey’s Banking Regulation and Supervision Agency (BDDK) released new data covering the first nine months of 2025, revealing the country’s debt landscape by province. The capital, Ankara, recorded the highest total credit debt, while the central Anatolian province of Karaman had the largest share of citizens unable to repay their loans and facing collection proceedings.
The postponement of the decision in the lawsuit to cancel the CHP's 38th regular congress brought short-term relief to the markets. The BIST 100 index gained 5% following the decision. The banking index also gained over 6%. The risk premium reached 261 basis points, the lowest in about six months.
Following the cancellation on Sept. 2 of the CHP Istanbul Provincial Congress, losses on the Istanbul Stock Exchange exceeded 5% within the day. The banking index dropped by more than 8% before rebounding.
The Banking Regulation and Supervision Agency's latest data shows that income inequality continues in Turkey.
A joint Turkish-UAE-Chinese venture is set to launch a comprehensive digital banking and payments platform in Turkey, marking an unusual cross-border collaboration that includes players from both the Gulf and China.
The United States has imposed sanctions on 22 entities linked to a shadow banking network accused of facilitating illicit oil trade on behalf of the Iranian regime. The network operates through front companies based in Turkey, the United Arab Emirates, and Hong Kong, funneling revenue to Iran’s Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF), the U.S. State Department announced on July 9.
The United States has imposed sanctions on 22 entities linked to a shadow banking network accused of facilitating illicit oil trade on behalf of the Iranian regime. The network operates through front companies based in Turkey, the United Arab Emirates, and Hong Kong, funneling revenue to Iran’s Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF), the U.S. State Department announced on July 9.