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What is Savings Deposit Insurance Fund (SDIF)

Chapter 1
Handbook of Research on Strategic Developments and Regulatory Practice in Global Finance
(In Turkish “Tasarruf Mevduati Sigorta Fonu” (TMSF)). The SDIF is a government agency, established to protect rights and interests of account holders. The duties of the SDIF are as follows: to insure saving deposits in the banks, to monitor insured accounts, to manage and appraise the assets under its control, and to undertake management and audit of banks which have lost the permit for banking transactions.
Published in Chapter:
Some Important Regulatory and Institutional Reforms in Turkey after 2001 Financial Crisis
Hamza Kahriman (Celal Bayar University, Turkey)
Copyright: © 2015 |Pages: 15
DOI: 10.4018/978-1-4666-7288-8.ch001
Abstract
The Turkish economy faced its worst financial crisis in 2001. The crisis started in the public sector and soon spread into the financial sector and finally led to major problems in the real estate sector. Following this crisis, which caused many banks to shut down and go into bankruptcy, many reforms took place. Thanks to these reforms, the Turkish economy has been growing steadily since 2003, except for the year 2008, despite conflicts in the neighboring states, and fluctuations in the global energy prices. Turkey owes this success to public and private sector reform and regulation and to its decisiveness in the implementation process. This chapter aims to provide a comprehensive overview of the economic reform process in Turkey since the 2001 financial crisis as well as reflections of this reform process on the Turkish economy.
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