The first information about banking dates back to the Antiquity. During this period, valuable goods and goods were entrusted to the temples and changed hands there. This process, also called temple banking, has changed over time and since the 18th century, banks that specialize in their field have been established.
Non-Muslim bankers were the first to engage in banking transactions in the Ottoman Empire. They lent money at interest. In 1847, Dersaadet Bankası, the first official bank of the Ottoman Empire, was established. This bank was followed by Bank-ı Osmani, which was established in 1856. However, Bank-ı Osmani could not become a real state bank because it acted in the interests of Western imperialism. Ziraat Bank, the first national bank of the Ottoman Empire, was established in 1888. The Second Constitutional Period constituted the development years of national banking. Many national banks were established with the support of the Union and Progress Governments. However, the development of national banking was interrupted due to the First World War.
The Republic of Turkey inherited an economic structure mostly dominated by foreign capital from the Ottoman Empire. Under the leadership of Mustafa Kemal Pasha, a galat effort was made by the Governments of the Republic to ensure the rapid development of the country. National banks were established with the support and incentives of the Governments of the Republic to help the industrialization of the country. These banks have undertaken important duties in the industrialization process of the country. They contributed to the industrialization process of the country by partnering with many projects in fields such as sugar, weaving and mining. In particular, Türkiye İş Bankası played a pioneering role in the development of the country with the projects it initiated and participated in.
National banks have also been quite successful in collecting deposits. Turkish entrepreneurs and producers with the loans they opened. The credit problems in the provinces were tried to be solved through the local banks established. A local bank has been established in almost every province.
Although the 1929 World Economic Crisis had a negative impact on the country's financial system, national banks continued to help the country's industrialization. With the development of national banks, the foreign dominance of the country in the field of banking was also ended. |