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Issue 164 - April 2008

Payments and Cash Management in Turkey: the role of Oyak Bank

Teoman Telatar, Senior Vice President Cash Management, Oyak Bank A.S. and Robert Rühl, Senior Economist, ING Wholesale Banking

Categories: Cash Management, Payments, Trade Finance, Country Focus

The Turkish economy has enjoyed a remarkable development since the difficulties in 2001. The start of negotiations with the EU on possible Turkish membership gave an additional impulse. Nevertheless it has become clear that Turkey will play an important role in the region with or without its EU membership. Just like other foreign investors, ING recognized the growing importance of Turkey and acquired Oyak Bank. By tradition trade and its financing has always been an important activity in Turkey. In this article we describe the current practice in payment and cash management in Turkey and the role Oyak Bank plays in this field.

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