Banking Infrastructure and Regulatory Institutions
Central Bank of TRNC
The Central Bank of the TRNC is the main regulatory institution that determines the country's monetary and credit policies, supervises the banking sector, and ensures financial stability. Matters such as the establishment and operating licenses of banks, capital adequacy, and risk management are under the supervision of the Central Bank.
Types of Banks
The banks operating in the TRNC are as follows:
Commercial Banks: These are banks that accept deposits from customers and provide loans.
Participation Banks: These are banks that operate according to interest-free banking principles.
Development and Investment Banks: These are banks that primarily provide financing for investment projects.
Branch Banks: These are banks established abroad that conduct operations in the TRNC by opening branches.
Digital Banking and Services
Internet and Mobile Banking
Banks in the TRNC provide internet and mobile banking services to their customers, enabling them to carry out transactions such as bill payments, money transfers, and foreign exchange transactions in a digital environment.
E-Collection and Virtual POS Systems:
Businesses can easily receive online payments through digital collection and virtual POS solutions. The virtual POS and integration infrastructure provided by banks supports various methods such as credit card, bank transfer, and mobile payment.
Electronic Money Institutions
Institutions offering electronic money services in the TRNC provide services such as payment facilitation, money transfers, and electronic money issuance. These institutions operate with the permission of the Central Bank.
Next-Generation Payment Infrastructures
It is possible to receive payments with next-generation methods such as contactless, QR code, and digital wallets. These solutions work in integration with smart devices and digitize the payment processes of businesses.
Consulting on Banking and Payment Systems with ORTAC
As ORTAC, we provide consulting services in the field of banking and payment systems in the TRNC. Our services include:
Opening Bank Accounts: Management of suitable bank selection and account opening processes for businesses.
Collection and Integration: Setting up collection integrations suitable for e-commerce infrastructures or ERP/billing systems.
Digital Banking Consulting: Use and optimization of internet and mobile banking services.
👉 To manage your banking and payment systems processes safely in the TRNC, contact us
