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Kalkınma
Kalkınma
Legal Status and Capital Structure
 
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Legal Status and Capital Structure

Development Bank of Turkey was established as the State Industry and Labourer Investment Bank (Devlet Sanayi ve İşçi Yatırım Bankası A.Ş.) in 1975 under the Decree in Force Law No 13. As its name implies the primary function of the Bank was to support workers’ initiatives to build and operate companies with the objective to utilize savings of expatriate workers. Having been encouraged by the success of this initiative the restricted scope of the Bank was broadened to include wider developmental issues, and the Bank’s name was changed to Development Bank of Turkey (Kalkınma) in 1988. In 1989, and again by a decree of the Higher Planning Council of Turkey, all of the assets and liabilities of the Tourism Bank (T.C. Turizm Bankası A.Ş.) were transferred to Development Bank of Turkey. On October 14, 1999 the Decree in Force Law 13 which defines founding status of the Bank was become a Law in the General Assembly of Turkish Republic with Number 4456.

Capital Structure

According to Law 4456, Development Bank of Turkey' s capital structure has been defined as Registered Capital.The registered capital amount is 500 Million TL Out of this amount  500 Million TL has been issued. 99.08 percent of the issued capital belongs to the Treasury.