Turkey: Govt to set up credit rating agency

Source: Middle East Insurance Review | Nov 2017

The Turkish government has announced that it will first establish a Central Risk Registration Office and then a national rating agency.

The aim is to build an information infrastructure for economic ratings, reported Daily Sabah.

In addition, credit insurance will be expanded to compensate for losses stemming from the non-payment of commercial receivables.

At the same time, the Financial Stability Committee will continue to work to reduce systemic risks, while macroeconomic measures will be put in place to reduce and manage the exchange risk in the real sector. A real sector systemic risk data follow-up model will be established to monitor the sensitivity of the real sector to foreign exchange risk.

Among other measures, a programme will also be undertaken to increase household awareness of borrowing and long-term savings. M

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