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Questions about Central Bank of the Republic of Turkey

Short answers, pulled from the story.

When was the Central Bank of the Republic of Turkey established?

The Central Bank of the Republic of Turkey started functioning on the 3rd of October 1931 after centralizing duties carried out by various institutions. The Grand National Assembly of Turkey enacted the law establishing it on the 11th of June 1930.

Who founded the Central Bank of the Republic of Turkey and when did they submit the draft bill?

Minister of Finance Abdülhalik Renda submitted a draft bill on establishing a central bank in 1927. Prof. Leon Morf from the University of Lausanne contributed to preparing the legal framework for its establishment.

What is the primary objective of the Central Bank of the Republic of Turkey according to the 2001 amendments?

The primary objective explicitly described as achieving and maintaining price stability within scope. Law stipulated that Bank would support growth and employment policies of Government without conflicting with price stability objective.

How many shares does the Central Bank of the Republic of Turkey have and how are they distributed?

CBRT functions as joint stock company with capital divided into 250,000 shares totaling 25,000 Turkish liras. Shares distributed across four classes where Class A shares allocated solely to Turkish Ministry of Finance and Treasury representing majority ownership stake.

When was the first monetary reform launched by the Central Bank of the Republic of Turkey to remove zeros from currency?

First stage removed six zeros from Turkish lira putting New Turkish lira banknotes into circulation from the 1st of January 2005 onwards. Second stage launched on the 1st of January 2009 removing prefix New used on New Turkish lira and New kuruş names.