CBRT Decided to Open 3 New Directorates

CBRT decided to open 3 new directorates. New directorates will be established to meet the needs of the organization.

Central Bank of the Republic of Turkey (CBRT), decided to establish three new directorates in the central administration. According to the decision taken, it was decided to establish a "Food and Agricultural Product Markets Analysis Department" within the General Directorate of Structural Economic Research, a "Participation Banking Department" within the General Directorate of Banking and Financial Institutions, and a "Financial Control Department" within the Budget and Financial Reporting General Directorate. In the text of the decision published by the CBRT, the duties of the new directorships were also explained. The text of the decision was as follows: “It was decided to establish a Food and Agricultural Product Markets Analysis Department, Participation Banking Department and Financial Control Department within the Central Bank Management Center. Considering the needs of the CBRT organizational structure; ‘Food and Agricultural Product Markets Analysis Directorate’ under the General Directorate of Structural Economic Research, ‘Participation Banking Department’ under the General Directorate of Banking and Financial Institutions, It was decided to establish a ‘Financial Control Department’ under the Budget and Financial Reporting Directorate.   The duties of the related Directorates are determined as follows; Food and Agricultural Product Markets Analysis Directorate: To see the early warning function by analyzing the data on the prices of food and agricultural products, which are critical in terms of price stability, in a detailed and timely manner, to report the results of the research and examination in a way that contributes to the monetary policy process and the Food and Agricultural Product Markets Fulfilling the secretariat duty of the Monitoring Committee. Participation Banking Department: Increasing the effectiveness of the CBRT's relations and studies with participation banks, contributing to the development of the sector and financial stability, and following the relations with international organizations working in this field more effectively. Financial Control Department: To strengthen the internal financial control system, to increase the reliability of financial reporting, to control the compliance of the expenditures made within the scope of the budget with the priorities of the Bank and the principles of efficiency and savings. Relevant Directorates will start their activities as of 8 February 2021.”   President Recep Tayyip Erdogan announced that the efforts to combat inflation have been accelerated. The inflation rate announced today was above expectations and was announced as 14.97 percent.