Vice President Cevdet Yılmaz said that the Central Bank is working on a social credit rating system.
Underlining that the basis of the system will be to encourage banks that provide loans in certain areas through regulations, Yılmaz said, “There are such practices in the West. Let’s say you want more credit to be given to technological investments or you want more credit to be provided to certain social issues or certain socially important businesses through the banking system. You can adjust the provision ratios of banks that do this. You can provide more flexibility to their growth performance”. Yilmaz stated that the Central Bank and Banker’s Association together with banks carry out this work and the work is being measured objectively in line with the regulations.
Participating in the broadcast of the Federation of Anatolian Broadcasters, Vice President Cevdet Yılmaz said that there is absolutely no perspective of ending the Foreign Currency Protected Deposit abruptly. Stating that they are using the mechanism gradually, Yılmaz said that it can always be considered as an instrument within the financial system on a smaller scale, in a way that does not pose a risk to the public. Yılmaz said, “If the banking sector, the finance sector wants to use this as an instrument, they can always use it. In other words, this is an alternative presented to the accountants, to the account records. But when it becomes too weighted, it creates more controversy.” Stating that Foreign Currency Protected Deposit was a necessity for the day it was implemented, “It fulfilled its duty” Yilmaz said.