SDIF Guarantee (TMSF)

The Savings Deposit Insurance Fund (SDIF/Fund) is an organization with a public legal personality, possessing administrative and financial autonomy.

The SDIF is a public institution established to maintain financial stability in our country and to protect the rights of deposit/participation fund holders.

SDIF Guarantee

The SDIF Guarantee is a protection system that ensures the partial or full compensation of losses that deposit and participation fund holders may be exposed to in cases where operating licenses are revoked by the Banking Regulation and Supervision Agency (BRSA/BDDK).

The fundamental objective of the SDIF is to ensure financial trust by contributing to the preservation of balance in our country's economic system.

Participation Funds Covered Under the SDIF

In domestic branches of a participation bank operating in Turkey, funds in Turkish Lira, foreign currency, and precious metals (excluding those belonging to official institutions, credit institutions, and financial institutions) are covered as follows:

 The portion of participation account unit values and special current account balances up to 1,200,000 TL for each natural and legal person is covered by insurance.

 Simultaneously, the sum of the principal amounts of deposit accounts held in domestic branches by our domestic or foreign customers living abroad, along with the profit share rediscounts related to these accounts, participation account unit values, and special current accounts, are covered by insurance up to 1,200,000 TL.

Participation Funds Excluded from the SDIF Scope

The participation funds specified below are not subject to insurance:

 Accounts opened at foreign branches of participation banks in Turkey.

 Accounts belonging to official institutions, credit institutions, and financial institutions at domestic branches of the participation bank.

 Participation funds and other accounts belonging to the controlling shareholders of the bank or qualified shareholders, legal entities under their control, and the parents, spouses, and children under the custody of natural person controlling shareholders.

 Participation funds and other accounts belonging to the chairman and members of the bank's board of directors, the general manager and assistants, legal entities and partnerships controlled by them, and their parents, spouses, and children under custody.

 Participation funds and other accounts that fall within the scope of asset values derived from the crime defined in Article 282 of the Turkish Penal Code No. 5237.

 Participation funds held at credit institutions established exclusively to conduct offshore banking activities in Turkey.

Payments to be Made Under the SDIF

Payments to be made within the scope of insurance are executed in Turkish Lira.

 The TL equivalent of foreign currency accounts is determined based on the Central Bank of the Republic of Turkey (CBRT) foreign exchange buying rates on the date the operating license of the relevant credit institution is revoked; the equivalents of accounts opened in precious metals are determined based on the Istanbul Gold Exchange session closing price and the CBRT foreign exchange buying rates on the date the operating license of the relevant credit institution is revoked.

 When determining the amount to be paid under the insurance scope, participation account unit values and special current account balances are taken into account.

"There is no need to make any premium payments or applications to benefit from the SDIF guarantee. Our Bank places all our customers' accounts within the specified scope under the SDIF guarantee."