The Advisory Committee refers to the committee that is authorized to determine the standards that the Bank should comply with based on international standards and scientific approaches in order to apply Participation Banking principles. Communication between the Advisory Committee and the Bank is carried out by Participation Banking Compliance Department.

The Advisory Committee, which operates under the Board of Directors, consists of three members and was assigned with the decision of the Board of Directors and presented to the approval of the General Assembly. The Bank takes the necessary measures to enable the members of the Advisory Committee perform their duties and take decisions independently. In this context, the processes for the Advisory Committee and its members to fulfill their duties effectively, efficiently and continuously have been established within the framework determined by the legislation.

The Advisory Committee has the following duties and responsibilities;

It takes decisions exclusive to the bank regarding the principles and standards of interest-free banking and their implementation.

It reviews internal regulations within the framework of compliance with interest-free finance principles and standards.

It evaluates and approves the standard contracts and annexes regarding the Bank’s products and services in terms of interest-free banking principles and standards.

It reaches decisions and opinions on the compliance of new products, services and contracts with the principles of Participation Banking.

It evaluates the Bank’s activities regarding the compliance with the interest-free banking principles and standards.

Within the framework of the relevant legislation, the secretariat activities and compliance of the Advisory Committee with the principles and standards of interest-free banking are carried out by the Participation Banking Compliance Department. Within the scope of the secretariat activities, the Advisory Committee held 43 meetings in 2023 and made decisions. A total of 1,136 documents were examined within the scope of activities related to compliance with interest-free banking principles and standards. The Board of Directors, relevant units and personnel were informed of the principles and standards of interest-free banking, the decisions of the advisory committee and their possible effects. The unit carrying out the interest-free banking compliance activities submitted a report setting out the activities performed to the audit committee at least once every three months. The Bank implements policies and procedures that regulate compliance activities with interest-free banking principles and standards in accordance with the legislation. In this context, necessary business processes have been put in place to convey the decisions of the Advisory Committee to the relevant individuals and units within the bank and are taken into account in internal control activities.

Interest-free banking supervision activities are carried out by the internal audit unit within the framework of the relevant legislation. A report on interest-free banking supervision was submitted to the Audit Committee at least once every three months and the Audit Committee submitted the report to the Board of Directors together with its opinion within the framework of the relevant legislation. The Audit Committee held two meetings with the Advisory Committee to discuss the reports on interest-free banking compliance and audit activities and the actions taken about the findings in these reports. As a result of the meetings, it was decided that the Bank had conducted its activities within the scope of participation banking compliance and audit activities in accordance with the decisions of the Advisory Committee.

Personnel engaged in the interest-free banking compliance and audit activities and in the advisory committee secretariat perform their duties in accordance with the criteria set by the relevant legislation. The Bank has taken the necessary measures to ensure that every employee it employs is able to perform duties in accordance with the principles and standards of interest-free banking and the decisions of the Advisory Committee, and has sufficient knowledge and capability.

Members of the Türkiye Finans Advisory Committee:

Prof. Dr. İsak Emin AKTEPE
Chairman of the Committee

He was born in Erzincan in 1975. He completed his primary school, middle school and high school education in Erzincan. He graduated from Marmara University Faculty of Theology in 1997. He then completed a Master’s degree in 1999 and a doctorate in 2005 in the Social Sciences Institute of the same university. He became an Associate Professor in 2011 and a Professor in 2019. After 1997, he worked as a director and educator in foundations and associations, and in 2012 he was appointed as a lecturer at the Faculty of Theology at Erzincan University. Aktepe is married and has three children. He is a Hadith lecturer and the Dean of the Faculty at Erzincan Binali Yıldırım University Faculty of Theology.

Prof. Dr. Vecdi AKYÜZ
Vice Chairman of the Committee

Born in 1955 in Kırklareli, Prof. Dr. Vecdi Akyüz graduated from the Istanbul Higher Islamic Institute. He worked as a mufti in the Azdavay District of Kastamonu in 1979 before working as an auditor in the mufti offices in Tekirdağ, and Eminönü, İstanbul between 1979-1984. Mr. Akyüz completed his master’s degree in 1984. In 1985, he worked as a lecturer in the Faculty of Theology at Marmara University. Mr. Akyüz was granted the title of doctor in 1989, the title of associate professor in 1992, and the title of professor in 2001. He served as a lecturer on Islamic Law in the Faculty of Law at Istanbul Aydın University.

Prof. Dr. Hayrettin KARAMAN
Member of the Committee

Born in 1934 in Çorum, Prof. Dr. Hayrettin Karaman graduated from the Konya İmam Hatip High School in 1959 and from the İstanbul Higher Islamic Institute in 1963. He started working as an assistant at the İstanbul Higher Islamic Institute in 1965. He began teaching fiqh after completing his thesis entitled “Islamic Law Jurisprudence from the Beginning until the Fourth Century”. In 1980, when the school transformed into the Faculty of Theology, he was promoted to the position of associate professor, then to full professor. Having retired at the beginning of 2001, Hayrettin Karaman is currently a columnist for the daily Yeni Şafak newspaper. In addition, he also carries out scientific studies. Hayrettin Karaman speaks Arabic, Persian and French; his periodical writings are published in the Journal of Real Life and Education and Science Magazine. A website, which contains his books and articles, is also available.

Information pertaining to the Advisory Committee and its members is available on the Bank’s website:

https://www.turkiyefinans.com.tr/tr-tr/hakkimizda/katilim-bankaciligi-sistemi/Sayfalar/danisma-komitesi-yapisi-ve-isleyisi.aspx

The Advisory Committee’s Assessment of the Bank’s 2023 Activities for Compliance with Interest-Free Banking Principles and Standards

Fund Collection, Fund Allocation, Lease Certificate Issues and Banking Services were conducted in accordance with the decisions of the Advisory Committee.

Necessary assessments were conducted by the Advisory Committee to take decisions exclusively affecting the Bank regarding the developed products/services.

In-house regulations were examined within the framework of compliance with the Islamic Banking Principles and Standards.

Compliance activities regarding the Principles and Standards of Interest-Free Banking were carried out by the Participation Banking Compliance Department within the framework of the decisions of the Advisory Committee.

The activities and transactions of the Bank were audited within the framework of the Interest-Free Banking Principles and Standards and the decisions of the Advisory Committee within the scope of the relevant legislation, and the Audit Committee and the Advisory Committee were consulted.

All the issues mentioned above have been evaluated in terms of Participation Banking principles and approved by the Advisory Committee.

The certificates of approval prepared in accordance with the Advisory Committee are published on the Bank’s website.