Treasury-backed guarantee: The Ministry will be able to open a special account

The Ministry of Treasury and Finance will be able to open special accounts with the 'treasury-backed guarantee system' .

With the presidential decree published in the Official Gazette, the ministry will be able to open a special account for public resources in the operating accounts opened for compensation payments at credit guarantee institutions.

It was claimed that the decision was taken to 'use the resource more effectively and efficiently' .

Any amount exceeding the amount in the operating account to be determined by the Ministry will be transferred to the special account.

As long as there is money in the special account, no transfer will be made from the central government budget to the operating account through the support account.

You can access the full decision at this link .

The Credit Guarantee Fund (KGF) is a public institution that provides guarantees, especially to SMEs, to make it easier for them to get loans from banks.

If a business cannot repay a KGF-guaranteed loan, the fund pays a certain portion of the debt from the business account to the bank as compensation.

Business accounts are checking or special accounts opened at banks on behalf of businesses to track these payments. The money in these accounts belongs to the businesses.