The Regulation Amending the Regulation on Remote Identification Methods and Establishment of Contractual Relations in Electronic Environment to be Used by Banks (“Regulation”) has been published in the Official Gazette dated 06.04.2022 and numbered 31801.
With the Regulation, the fourth section, titled Principles Regarding Remote Identification to be Applied within the Scope of the Deposit and Participation System for Citizens Residing Abroad (YUVAM) has been added to the Regulation on Remote Identification Methods and Establishment of Contractual Relations in Electronic Environment to be Used by Banks.
The following provisions have been introduced with the relevant part of the Regulation:
- In order to open an account within the scope of the Communiqué on Deposit and Participation System Accounts for Citizens Residing Abroad (“Communiqué”) and to carry out other transactions regarding the accounts opened in this way, natural persons who have the Republic of Turkey Identity Card or who are given a Blue Card can be accepted as new customer by remote identification by the bank using a passport with near field communication feature in accordance with the International Civil Aviation Organization (ICAO) standard 9303.
- Natural persons holding a Republic of Turkey Identity Card or Blue Card must be followed in a high-level risk profile by banks.
- To the account to be opened for the purpose specified in the Communiqué, money can be sent only from the accounts opened in their name in foreign banks, and money can be withdrawn from the account only to these accounts.
You can reach the full Turkish text of the Regulation via the link below.
https://www.resmigazete.gov.tr/eskiler/2022/04/20220406-18.htm
