Frequently Asked Questions

Why was the Advisory Board established?

The Advisory Board was founded to set out principles for Sharia-compliant transactions of institutions that offer interest-free financial services, to provide conformity for banking transactions, to make inspections and surveillances for transactions that comply with interest-free principles and standards, to promote the institution in developing new interest-free products and services.

What are the tasks of the Advisory Board?

The Advisory Board;

  • Determines the professional principles and standards for participation banks to follow,
  • Takes general decisions to eliminate the practice differences among participation banks,
  • Upon application, provides opinions on interest-free financing activities to public institutions and organisations, public professional organisations, and other organisations,
  • Organises programs, prepares publications, and participates in other programs to introduce the professional principles and standards of participation banking,
  • In case of disagreement between participation banks and their customers on matters covered by the professional principles and standards, it may decide to apply, change, or cancel the decisions taken by the participation banks regarding the disagreement.
  • Are the decisions of the Advisory Board binding?

    The decisions of the Advisory Board are binding for institutions and organisations that request the decision if they are published with a statement of necessity. However, advisory decisions of the Board are not binding.

    Applications are made to the Association in writing. The contrary acts of the applicants against the opinions stated by the Advisory Board do not constitute an obligation whatsoever for the Association or the Advisory Board. This is announced to the applicant in the opinion text and to the public on the Association's website in case of contrary applications.

    What is the legal status of the Advisory Board?

    The Advisory Board of TKBB was founded pursuant to the decision of the Banking Regulation and Supervision Agency dated 22/02/2018 and numbered 7736. The Communique on the Formation, Duty, Working Procedures, and Principles of the Advisory Board was adopted with the decision of the TKBB Board of Directors dated 02.04.2018 and numbered 253. Provides impartial services and takes independent decisions under TKBB.

    Who can apply to the Advisory Board?

    Public institutions and organisations, public professional organisations, and other organisations can apply to the Advisory Board. Decision requests are made to the Participation Banks Association of Turkey in writing. If deemed appropriate by the Association, it is taken to the agenda of the Advisory Board.

    How can we apply to you with issues that we think should be included in the agenda, decisions, and opinions of the Advisory Board?

    You can send your opinions and suggestions to the e-mail address of the Advisory Board, which is  bilgi@tkbbdanismakurulu.org.tr.