Dear Customers,
According to decision #42/1326 of 15.10.2004 of the Capital Markets Board, the dematerialization of Mutual Fund Participation Shares at the Central Registry Agency Inc. (MKK) have been initiated and the “Dematerialized Custody System” has been introduced that would be maintained by the Central Registry Agency (MKK) on individual customer basis according to a decision of the Capital Markets Board.
The dematerialization procedure at the MKK of the Mutual Funds Participation Shares established by our bank has been completed.
Each account holder investing in capital market instruments are required to have a MKK Registration Number. (Capital Market Instruments: Mutual Funds, Government Bonds, Treasury Bills and similar trading transactions).
An account is opened with the MKK to the name of each of our customers who have purchased mutual fund participation shares through our bank. A “MKK Registration Number” is generated for each of our customers after submission of the customers’ name, surname, date of birth, T.R. identification number, Tax Identification Number and address particulars to the MKK System.
According to a decision of the Capital Markets Board, a Liquid Account cannot be created for customers who have not a MKK Registration Number owing to missing and/or inaccurate information. Customers who wish to buy mutual funds will be permitted to sell their current portfolio of mutual funds, but any further purchases of mutual funds will not be possible.
Please contact your branch office to update your identification details to obtain a MKK Registration Number.
What is the Central Registry Agency Inc. (MKK)?
Article 10/A that has been incorporated in the Capital Markets Law #4487 on December 18, 1999, provides for the dematerialized tracking of all capital market instruments and any rights related to them by a Central Registry Agency who shall have the nature of a private law legal person.
The Central Registry Agency Inc. has been established to maintain an electronic record of the capital market instruments and any pertinent rights thereon on the basis of individual issuers, intermediary institutions and beneficiaries, and to verify the consistency of the records kept by member groups.
According to Article 10 of the Notification on the Record-Keeping Principles and Procedures of Dematerialized Capital Market Instruments, an Investor Account is an account opened in the name of a beneficiary over which bearer or registered rights can be tracked.
The dematerialized system involving the dematerialization of the capital market instruments is a system of law where the Central Registry Agency Inc. (MKK) maintains a computerized record of the capital market instruments and the pertinent rights on the basis of individual issuers, intermediary institutions and beneficiaries, and where the reporting date to the MKK is the basis for any claims brought against third parties in connection with the foregoing rights.
