Which bank is the central bank of Turkey, founded in 1930?
Answer
Central Bank of the Republic of Turkey
The Central Bank of the Republic of Turkey is Turkey’s central bank, founded in 1930.
The bank was established under Law No. 1715 and began operating in 1931. Its creation gave the newly established Turkish Republic a dedicated institution for currency issuance, monetary management, and banking-system support.
The institution is known in Turkish as Türkiye Cumhuriyet Merkez Bankası and is commonly abbreviated as TCMB. Its responsibilities include conducting monetary policy, maintaining price stability, managing reserves, and overseeing payment systems. Its headquarters are in Ankara.
Ziraat Bank is a separate state-owned commercial bank, not Turkey’s central bank. Turkey’s currency is the Turkish lira, whose banknotes are issued by the central bank under the authority of Turkish law.