Central Bank Revokes Papel Electronic Money's Operating License
The Central Bank of the Republic of Turkey has revoked the company's electronic money institution license in accordance with relevant legislation.
The Central Bank of the Republic of Turkey announced via an Official Gazette notification that Papel Elektronik Para ve Ödeme Hizmetleri A.Ş.'s authorization to operate as an electronic money institution has been revoked.
Operating License Revoked
In line with the decision taken by the Central Bank of the Republic of Turkey, Papel Elektronik Para ve Ödeme Hizmetleri A.Ş.'s authority to operate as an electronic money institution was officially terminated. This development was announced to the public through the relevant notification.
Relevant Legislation Articles
The decision in question was implemented pursuant to various articles of Law No. 6493 on Payment and Securities Settlement Systems, Payment Services, and Electronic Money Institutions. The relevant clauses and provisions of the law were taken as the basis during the revocation process.