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Development Banking
Participation Finance
Compliance and Audit Activities

Compliance and Audit Activities

Compliance and Audit Activities

The compliance and oversight of our products referenced herein with the Principles and Standards of Interest-Free Banking (Participation Finance) are jointly carried out by the Internal Control and Audit Units of the Development and Investment Bank of Türkiye and the Advisory Committee Secretariat, appointed by the consultancy firm providing services in the domain of interest-free banking.

In accordance with the BRSA’s “Regulation on Compliance with the Principles and Standards of Interest-Free Banking,” both the Internal Control and Audit Units and the Advisory Committee Secretariat are required to submit a report regarding compliance activities to the Audit Committee at least once a year. This report is subsequently forwarded to the Bank’s Board of Directors by the Audit Committee.

The Audit Committee meets with the Advisory Committee at least twice a year to discuss reports generated within the framework of interest-free banking compliance and audit activities, and to determine the necessary actions to address the findings in these reports.

Compliance and Audit Activities

In line with applicable legislation, regular meetings are conducted with the Advisory Committee at least once every three months, and additional meetings are convened as necessary, involving relevant units when topics on the agenda warrant. Issues and suggestions that arise during these meetings are resolved, the decisions made are communicated to all Bank employees, and it is ensured that practices align with the ratifications provided by the Advisory Committee. In addition to regular meetings, there is an open channel for immediate communication between the relevant units and the Advisory Committee, enabling prompt responses to transaction-related inquiries or urgent matters.

Within the Development and Investment Bank of Türkiye, policies and procedures that dictate compliance activities consistent with the principles and standards of interest-free banking are submitted to the Board of Directors for approval following consultation with the Advisory Committee.