Turkey implements new savings finance rules amid Katılımevim investigations

Turkey's Banking Regulation and Supervision Agency (BDDK) is implementing sweeping new regulations for savings finance companies, effective October 1, following recent industry instability. The changes come after the arrest of Serdar Turhan, Chairman of Pusula Yatırım Holding—the majority shareholder of Katılımevim and Birevim—and the seizure of assets belonging to him and other holding executives.

Under the new BDDK rules, individuals are restricted to a maximum of two active contracts within the system: one for a vehicle and one for a residence or workplace. Financial limits have also been adjusted to reflect market conditions. The maximum contract amount for vehicle financing is now 6.25 million TL, while housing and workplace financing is capped at 62.5 million TL. Additionally, the total value of all contracts for a single person or risk group cannot exceed 62.5 million TL.

In parallel, İYİ Party MP Selçuk Türkoğlu has submitted parliamentary inquiries to the Ministries of Treasury and Finance, Justice, and Environment and Urbanization. The inquiries demand investigations into Katılımevim’s $120 million sale of its 70% stake in Bainbridge Gayrimenkul to T6 Gayrimenkul and Laran Gayrimenkul. Türkoğlu specifically questioned the financial channels used for the transaction, whether the funds were transferred abroad, and if MASAK has conducted any suspicious transaction investigations.