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Legal Structure

İhlas Finans started operating on 29.04.1995 upon the Decree No. 94/6193 of 19.11.1994 of the Council of Ministers. The “operating license” of İhlas Finans was revoked by Decree No. 171 of 10.02.2001 of the Banking Regulation and Supervision Agency and the company went into a liquidation process. In the letter no. 990 of 10.02.2001 and press statement of the same date sent by Banking Regulation and Supervision Agency to İhlas Finans, it was announced that the company was going to be liquidated “as per Article 434 and the subsequent articles of the Turkish Commercial Code and according to the general provisions applied to the Joint Stock companies?. Liquidation of the company takes place in compliance with the provisions of the Turkish Commercial Code and the company is supervised through the Ministry of Industry and Commerce.