Statement on BES from the Insurance Association of Turkey and New Credit Regulations by BRSA
The Insurance Association of Turkey stated that there is no liquidity problem in BES following fund liquidations. Meanwhile, BRSA announced new decisions regarding credit card and mobile phone loans.
The Insurance Association of Turkey issued a statement regarding the increasing exit requests from the Private Pension System following certain liquidation decisions in the capital markets, announcing that there is no liquidity problem. On the other hand, the Banking Regulation and Supervision Agency shared its new decisions regarding consumer loans for mobile phone purchases and minimum credit card payment ratios with the public.
Liquidation Decisions and the Status of BES
Following news reports of increased exit requests from the Private Pension System after the Capital Markets Board's liquidation decisions for certain funds, the Insurance Association of Turkey made a statement. The Association emphasized that the largest share in the liquidated funds belongs to free funds, and these funds are entirely different from the pension investment funds within the scope of BES.
Fund Data and Liquidity Status
While it was stated that movements in the capital markets may lead to changes in the daily values of funds, it was noted that no liquidity problems have been experienced in pension investment funds to date. According to data from the Pension Monitoring Center, the total fund size in the system was recorded at 2.566 trillion TL at the end of September.
Audit and Guarantee Mechanisms of the System
IAT stated that the roles of the pension company, portfolio management company, and custodian institution in the BES system are segregated. It was stated that the system is subject to the regulatory and supervisory mechanisms of the CMB, SEDDK, Takasbank, and the Pension Monitoring Center, and is monitored regularly via the Fund Monitoring Platform.
Maturity Limits on Mobile Phone Loans
With the decision of the Banking Regulation and Supervision Agency dated October 1, 2026, consumer loan maturity limits used for mobile phone purchases were reorganized. The maturity was set at 12 months for devices priced at 40 thousand TL and below, while it was reduced to 3 months for devices above this amount.
Renewed Products and Credit Card Regulation
Maturity applications for mobile phones possessing renewed product characteristics were shaped based on the 50 thousand TL limit. In addition, the limit threshold used in determining the minimum payment ratio for credit cards was raised to 100 thousand TL, and new rates were put into effect.