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ECONOMY
MONEY AND BANKING
The Central Bank which is in charge of directing the cash policies
in Turkey is also responsible from arranging the cash demand,
crediting other private or government banks, forming the tools of
cash policy and determining the exchange values. The exchange rates
originate in the free market conditions under the supervision of the
Central Bank. The Undersecretariat of Treasury plays an important
and major role in the policies of the Central Bank. This institution
especially assists the directing and executing of the banking
system.
The financial policies executed in the period following 1980 had
canceled the limiting arrangements present in the sector and by this
fact, the competition medium was improved. Liberal policy
applications as facilitating the income and outcomes of local and
foreign banks and lifting the limitations at the interest rates were
initiated. The share of the banking sector among the financial
sector could be expressed above 70 percent and if the Central Bank
is included inside this banking sector, this amount could reach up
to 90 percent. The banks acting inside Turkey had rapidly
diversified their customer services, had entered into a
technological competition medium and directed towards the electronic
banking in order to ascend the quality of their service.
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