Pi Legal Consultancy [PiLC] is an international law firm based in Ankara. We have four offices located in Istanbul, Ankara and Batman. According to our working principles, we adopt based on working group and/or team. Each of our lawyers has expertise in their legal areas of specialisation. In the light of the foregoing, Banking & Finance at PiLC is composed of qualified banking and finance lawyers dedicated their career to financial markets and organisations over the years. We provide legal guidance to lenders and borrowers on a wide range of finance areas. In producing fast-paced strategies regarding risk management and investment, PiLC acts both on behalf of lenders and borrowers at the national and international area. We offer legal assistance to national, commercial or investment banks, private equity firms and other financial institutions for the production of best financial and legal strategies.

PiLC is a legal & business consulting international law office in Turkey. We have four offices based in İstanbul, Ankara and Batman. We also enjoy solution partners and lawyers based in most European Countries, Canada and the US. PiLC is one of the leading partners to landmark international networks, including Mondaq, Lawzana, HG Group, Association of European Attorneys and now Global Law Experts. We offer legal consultancy and advocacy in key legal areas, including banking and finance, international trade, law of obligations, citizenship, healthcare, real estate and corporate governance. Based on a detailed overview of our client profiles and our service quality, together with our marketing and branding efforts, we were recently chosen by the London-based Prestige Awards Group as the International Law Firm of 2022/2023. PiLC also received the 2024 Global Recognition Award as a testament to its exceptional performance, innovative services and unwavering commitment to client satisfaction.

Currently, we provide legal and business consultancy to leading French, Canadian, Chinese, Norwegian, Danish, Swiss, Georgian, Dutch, British, American, Kuwaiti companies and the Ministry of Health of Kuwait, as well as such international organisations as the World Bank Group. PiLC has also created a strong collaboration with the Embassy of Saudi Arabia and the United Kingdom, and further offers legal consultancy and representation services to foreigners living and working in or outside of Turkey. For more information, please take a look at our reference page: https://www.pilc.law/our-references/

Please also see our testimonials at: https://g.co/kgs/2foJoa

Meanwhile, our blog articles, particularly with regard to banking and finance, are categorized among the most read articles in the world: https://www.pilc.law/practice-areas/banking-and-finance-law/

PiLC’s Banking & Finance Team provides expert legal guidance, supporting both lenders and borrowers with strategic advice on risk management and investment. In addition, banking and finance lawyers play effective roles, specifically bankruptcy declarations and related reorganisation processes, financial restructuring, loans and credit facilities, real estate finance, as well as international financing standards and requirements, including Islamic banking. Furthermore, PiLC offers comprehensive legal assistance to national and international banks, private equity firms and other financial institutions to develop optimal financial and legal strategies.

Our typical client portfolio consists of a diverse range of sectors that are essentially large-scale companies, multinational corporations, financial institutions, government agencies, as well as individuals and organisations involved in international trade and investment. Our clients contact us for expertise in various areas, including banking and finance, international trade, data protection and privacy law, dispute resolution and litigation, corporate governance, FinTech, anti-dumping and investment areas. PiLC endeavours to serve this geographically diverse client base with high-quality, customised services.

Financial turmoil across the world has had a crippling impact upon the world economy, including Turkey’s economy during the last ten years. Therefore, Turkish policy and law makers struggle with revising internal framework and standards. Most sectors, including banking, have undergone the influence of global economic problems. To this end, PiLC’s Banking & Finance Working Group consists of financial and legal experts, as well as banking attorneys.

First of all, PiLC delivers a free consultation based on its articles and papers, aimed at providing the most up-to-date information on Turkish Banking Markets. In particular, our Banking & Finance practice area contains some of the most read articles for the jurisdiction of Turkey: https://www.pilc.law/practice-areas/banking-and-finance-law/

Second of all, PiLC has gained prominent support from its global clients, having recently delivered legal consultation to eminent companies, including Igenomix, SEI Robotics, SkillBee, Aptos LLC, Shenzen Metatmos Co., Homatics and Vitrolife Group, as well as landmark international organisations, such as the World Bank Group. For more information, please view: https://www.pilc.law/our-references/

In Turkey, there are two important developments affecting the banking sector. First of all, there is very quick progress in electronic payment systems. In particular, the adoption of the 2024 Turkish Crypto Law will have a key role upon the banking system in the near future. Secondly, the 2024 FATF Decision on Turkey is capable of presenting a new pathway for FDI to Turkey associated with the banking sector. Both of these steps are regarded as an exit means for handling financial challenges by Turkish law and policy makers. PiLC’s banking working group remains continually alert regarding legal news, with a view to presenting an all-embracing consultancy to its clients. Check see our New Insights section: https://www.pilc.law/category/news/

Particularly the existence of Turkey’s name has played a detrimental role upon all cross-border banking transactions in Turkey up to now. As a result, the interruption of business chains and the disruption of transactional commercial relations has impacted our caseload, particularly in the areas of dispute resolution, contract renegotiation and financial restructuring. Nonetheless, recent positive change – following the removal of Turkey from the FATF grey list – has had a vital impact upon positive improvements for all banking engagements in Turkey.

FinTech has the potential to significantly transform the banking and finance landscape in several key ways:

The use of FinTech presents a broad range of challenges, especially where it touches on the implementation of crypto-currencies, such as bitcoin. The adoption of digital money and digital payment services platforms has led to new, and severe, problems in capital markets.

Meanwhile, data privacy and the protection of personal information has been a matter of concern in the field of FinTech IP. Data privacy implies the right to make any decision on when, how and to what extent personal and private information can be communicated to outsiders. Generally speaking, the collection, processing, supervision and protection of confidential personal data are guaranteed by domestic legislation across jurisdictions. The right to data privacy is recognised to cover a broad range of rights, including the right to access such data, a right to portability, a right to be forgotten, as well as a right to share or not.

FinTech consultancy can pave the way for progressive change in terms of banking, technology and digitalisation. An efficient FinTech consultancy will provide the compliance of FinTech-led engagements with national and international law-centric standards and rules. This will directly increase legalised integration of the FinTech ecosystem into daily banking.

Yes, our firm’s expertise in banking and finance law, particularly within the context of Turkey’s legal framework, provides a significant advantage when working on an international level.

We have a deep understanding of the complex regulations that govern the financial markets, including the pivotal Banking Law (Numbered 5411) in Turkey. This law is fundamental to ensuring confidence, stability and the protection of depositor rights in financial markets. Our expertise in this area allows us to offer precise legal guidance on a wide range of finance-related matters, such as financial restructuring, loans, credit facilities and international financing standards, including Islamic banking.

Moreover, our international experience is bolstered by our successful collaborations with prestigious global clients from such countries as France, the UK, Canada, the US, Israel, Switzerland and Kuwait, as well as governmental bodies like the Kuwait Ministry of Health. Our English-speaking lawyers also play a key role in facilitating investment projects for foreign entrepreneurs, ensuring that they navigate Turkey’s legal landscape effectively.

This blend of local expertise and international experience allows us to provide comprehensive and effective legal services, making us a strong partner for clients operating on a global scale.

Turkey has proven to be an attractive jurisdiction for foreign investment, particularly in recent times. The country’s strategic location at the crossroads of Europe, Asia and Africa, combined with its business-friendly policies, has made it a significant hub for international investors.

In the banking and finance sector, Turkey offers a robust legal framework that ensures stability and confidence in financial markets, which is a key factor in attracting foreign investment. Laws like the Banking Law (Numbered 5411) and the comprehensive regulations enforced by the Banking Regulation & Supervision Agency provide a secure environment for both local and international investors.

Our firm has witnessed considerable interest in local businesses from financers outside Turkey. This interest spans various sectors, including real estate, technology and infrastructure. International financers are particularly drawn to opportunities in these areas, due to Turkey’s growing economy, competitive labour market and strategic location, which offers access to a vast market spanning multiple regions.

Meanwhile, our experience working with a diverse range of international clients, including those from France, the UK, Canada, the US, Israel, Switzerland and Kuwait, reflects the growing interest and confidence of foreign investors in the Turkish market. These collaborations often involve significant investments in local businesses, driven by the attractive prospects that Turkey presents.

Overall, Turkey’s legal and economic environment continues to draw substantial foreign investment, and the trend is expected to grow as the country further integrates with global markets.

We conduct in-depth research on legislation, customs and business practices in relevant jurisdictions and closely monitor changes that may affect our clients’ legal position. We strive to establish and maintain partnerships with local law firms, professional legal advisers and individuals with on-site expertise. Through these partnerships, we understand the practical implications of legal provisions in differing regions and take our steps with this in mind.

We create a collaborative environment wherein our team can work with international legal experts, ensuring that our advisory scope is informed by a variety of perspectives and expertise.

We establish open lines of communication with our clients, informing them of the steps we will take with the preliminary protocol text we have prepared regarding the legal services and consultancy activities they require.

We are working to diversify the legal services we provide to meet the needs of our clients. For example, we have begun to offer services in new and specific legal areas, such as data privacy, cybersecurity and international trade compliance.

We use the latest legal technology tools to facilitate and accelerate our legal advice and services. Examples include AI-powered legal research platforms and case management software, as well as web-based applications – all of which facilitate communication.

We are also strengthening and revising our client relationship management strategies, in order to increase client satisfaction and loyalty.

We invest in the professional development of our team, and maintain and improve our firm’s competitive advantage in legal knowledge and practice, with new colleagues joining our team.

We are closely following the reforms in capital and liquidity requirements for banks and the capital, risk and reporting requirements for financial institutions.

Many countries are introducing or updating regulations on digital assets, cryptocurrencies and blockchain technology. For example, the EU’s Markets in Crypto Assets Regulation (MiCA) is a regulation that is expected to enter into force in the near future, and establishes a comprehensive regulatory framework for digital assets. In this sense, we follow this regulation in order to provide legal advice and services to our clients who are interested in, or invest in, cryptocurrencies and other digital financial products.

Regulatory bodies around the world are constantly tightening AML and CTF regulations. The Financial Action Task Force (FATF) is updating its recommendations, while many jurisdictions are adopting stricter AML/CTF laws. In this context, we inform and advise our banking and finance clients to fulfil more stringent due diligence, reporting and compliance requirements.

We follow the EU’s Sustainable Finance Disclosure Regulation (SFDR) and the forthcoming Corporate Sustainability Reporting Directive (CSRD), and conduct detailed reviews on how financial institutions address sustainability.