It is known that citizens who cannot or do not want to take out loans from banks, who want to make interest-free investments, and who want to become homeowners, car owners, or start a new business, currently make agreements with savings financing companies. Along with this, the long-awaited savings financing law has been enacted. With the law, a new era has also begun in the savings financing sector. While the sector has been named Savings Financing with the law, Savings Financing will be subject to the supervision and regulation of the BRSA (Banking Regulation and Supervision Agency), and only approved savings financing companies will be able to become members of the BRSA.
“In short, what is the Savings Financing Law?” To answer his question; it is a law that subjects companies operating in the Savings Finance sector to the observation and supervision of the BRSA and obliges companies to continue their activities within the framework of the rules determined by the relevant law.
WELL, WHAT IS IN THE SAVINGS FINANCE LAW? WHAT AWAITS SAVERS AND COMPANIES IN THIS PROCESS? WHAT DOES THE SAVINGS FINANCE LAW COVER?
Since the entry into force of the law, many people “What is savings finance?” is looking for an answer to his question. To explain briefly: “Individuals being able to meet their housing, vehicle, or workplace needs by saving through savings financing companies.” we can say. The Savings Financing Law is also an act that establishes rules and standards for how this process should be regulated both for companies and for depositors.
In accordance with the conditions of the Savings Financing Law, the following concepts have been added in order to understand the processes related to the established or planned Savings Financing activity:
- Savings Finance Organisation Fee
- Allocation
- Savings Financing Activity
- Savings Fund Pool
Let's take a quick look at these concepts.
Allocation, is a transaction based on becoming entitled to an allocation pursuant to a savings-finance contract. It covers the payment of savings accumulations and the financing amount promised within the scope of the contract to third parties in the position of the seller in order for the customer, their heir, or their authorised representative to acquire a residence, a roofed workplace, or a vehicle.
Savings finance activity, is processed under a contract. The contract terms are determined in advance and, when the conditions are met, savings are made for a certain period according to interest-free financing principles for the acquisition of a dwelling, roofed workplace or vehicle, after which financing is made available to the Savers. It also includes the management of the collected savings.
Savings fund pool work is defined in the following ways:
- accumulated savings held with a savings finance company during a specific period,
- The amounts remaining after deducting the amounts allocated as appropriations and savings repayments from the total of amounts consisting of financing repayments.
AUDITS WILL BE CONDUCTED BY THE BRSA
Savings finance companies have been operating for years, but according to the savings finance law, interest-free finance companies will henceforth be supervised by the BRSA. Companies subject to the supervision and monitoring of the BRSA will henceforth carry out their activities according to certain standards.
The following conditions will be sought in savings finance companies during BRSA audits:
- to a partnership structure that will not compromise trust and stability in the sector,
- To management,
- Having sufficient financial power,
- Having the necessary organisational structure.
The establishment permits of interest-free financing companies, by the concurring vote of at least 5 members of the BRSA, namely the Banking Regulation and Supervision Agency can be given.
Savings finance companies will be audited, and companies that fail to fulfil the conditions stated above will not be established.
SO WHAT SHOULD CITIZENS WHO HAVE BEEN VICTIMISED BY THESE SAID SAVINGS FINANCE COMPANIES DO?
To date touching 1 million people in the system Eminevim, Fuzulev, Birevim, Finansevim, Vakıfevim, Çözüm Tasarruf such companies stand out. Citizens applying to these companies are required to make a series of payments in order to obtain the earnings promised by the companies under a contract. Essentially, in the contracts made with these companies, citizens “consumer” is located in. For these reasons, when a dispute arises between companies and citizens Consumer Protection Act consumer rights must be protected within the scope.
In the event of any delay in delivering what has been promised to the consumer—whether it be movable property, immovable property, or money—to the citizen The consumer may terminate the contract for valid reasons and claim compensation for their negative and/or positive damages..
with the contracts these companies have had our citizens who enter the system sign severe hardships is experiencing. The subject headings such as delivery date, organisation fee and right of withdrawal that frequently cause problems in practice Companies that restrict users with the conditions they impose aim to ward off liabilities that might be placed upon them in subsequent disputes.
It is important to note that; Consumer disputes involving amounts of 10,390 TL and above that do not fall within the scope of exemption have also been included within the scope of mandatory mediation, and applying to a mediator before filing a lawsuit has become a mandatory procedural condition. In this regard, if a lawsuit is filed directly without applying to a mediator, The lawsuit will be dismissed on procedural grounds.