Statement by Aktif Bank about new ABS regulation

​Aktif Bank, the largest investment bank and the leading entity in Asset-Backed Securities (ABS) market in Turkey, released a statement on the new regulation introduced by the Capital Markets Board (CMB) on November 11th to expand the assets pool which might constitute the subject matter of any ABS issuance, and to promote issuance of such products. Emphasizing that the new regulation will provide quite substantial contributions to development of the ABS market, Tevfik Kınık, Executive Vice President, Credit Analytics and Capital Markets at Aktif Bank, provided some brief information about the initiatives taken by the bank in this field.

Stating that they released an important product like ABS to the Turkish capital markets through securitization of the assets of the leading organizations in Turkey, besides the high-quality assets which have been included in the balance-sheet of the bank since 2011, Mr. Kınık said: "Asset-Backed Securities (ABS) and other structured products of similar nature offer a secured and reliable product alternative backed on a certain asset, independent from the originator's risk, to investors. It provides finance and liquidity through sales of assets instead of borrowing for financial institutions and companies which act as the originator. Besides many innovations we have introduced to the Turkish capital market, we have issued 19 different products with a total value of 4.2 billion TRY across the ABS market up until now."

Regarding the new regulation introduced on November 11th by the CMB, Mr. Kınık said: "The support by our government and this new regulation introduced by the Capital Markets Board are highly important for development of the Turkish capital markets. This development will provide a great contribution to further promotion of the innovative financial products like ABS across the Turkish capital markets, and to introduction of more reliable investment alternatives as needed currently by our industry. We would like to extend our thanks and appreciation."