Important Announcement on the Customers Whose Deposits, Custody and Receivables with our Bank Has Time-Barred
As it is known, in accordance with Article 62 of Turkish Banking Law No. 5411 deposits, participation funds, assets in trust and receivables by banks which have remained dormant for ten years starting from the date of last request, transaction, any kind of written instruction of the owner are subject to prescription.
Further, subject to Article 8 of the “Regulation on the Principles and Procedures for Accepting, Withdrawal of Deposits and Participation Funds as well as the Prescribed Deposits, Participation Funds, Custody and Receivables” issued by Banking Regulatory and Supervisory Agency in relation to the implementation of Article 62 of Turkish Banking Law No.5411 banks are required to announce the list of time-barred deposits, custody and receivables they held on their website for a period of four months starting from beginning of February.
While the announcement of deposits which are time-barred due to pertinent regulations of Savings Deposit Insurance Fund is compulsory,there are no time-barred Deposits, Participation Funds, Custody and Receivables held by Habib Bank Limited Istanbul Turkey Central Branch.