3 New Directorates Are Established in the Central Bank!

Regional Economy 11.03.2021, 23:58
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3 New Directorates Are Established in the Central Bank!

The Central Bank of the Republic of Turkey (CBRT) has decided to establish Food and Agricultural Product Markets Analysis Directorate, Banking and Financial Institutions Department, and the Budget and Financial Reporting Department.

According to the Central Bank's statement: "Considering the needs of the CBRT organisational structure, it was decided to establish the Food and Agricultural Product Markets Analysis Directorate under the General Directorate of Structural Economic Research, the Participation Banking Department under the General Directorate of Banking and Financial Institutions, and the Financial Control Department under the Budget and Financial Reporting Directorate.

What are the duties of the established directorates?

The duties of the related Directorates, which will start their activities on February 8, are determined as follows;

Food and Agricultural Product Markets Analysis Directorate: To perform an early warning function by carrying out a detailed and timely analysis of data regarding the prices of food and agricultural products that are critical to price stability, to report the research and analysis results in a way to contribute to the monetary policy process, and to fulfil secretarial duties for the Food and Agricultural Product Markets Monitoring and Evaluation Committee.

Participation Banking Directorate: To increase efficiency in the CBRT’s relations and work with participation banks, to contribute to the sector’s development and financial stability, and to carry out relations with international institutions that work in this field in a more effective way.

Financial Control Directorate: To reinforce the internal financial control system, to increase the reliability of financial reporting, and to control whether expenditures under the budget are in line with the Bank’s priorities and comply with the efficiency and saving principles.

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