There is an application coming which is similar to Housing Provident Fund in Europe to ensure that low-income citizens become housing owners.
Mehmet Ali Akben, the Chairman of the Banking Regulation and Supervision Agency (BDDK), said that the Housing Provident Fund system, which helps low income people meet their housings needs in many European countries, will also be applied in Turkey.
Akben expressed that low incomers can save money and become housing owners, due to this system. And he added, “As it is known, there are a number of incentive money saving mechanisms in our country for housing. We are working on a system combining this with it.”
Housing Provident Fund
Akben, providing information about the sector in the Plan and Budget Commission, said that the Turkish banking sector had a capital adequacy ratio of 17.2 percent and a core capital adequacy ratio of 14.4 percent as of September. Akben pointed out that the rates are very strong compared to the equivalent countries. Akben noted that the loans borrowed by the banks had reached 2 trillion liras. Akben said that the deposit and participation funds are at the level of 1.6 trillion liras. He said, “In the same period, the total asset size of the sector reached 3.1 trillion liras. The increase in the loan / deposit ratio to 150.9 percent in TL, 76.8 percent in foreign currency, and 118.4 percent in total is considered as an indication of effective resource utilization and an increase in financial deepening.”