Common aspects of COVID-19 measures and sustainable banking principles. Case study of Turkey

Volkan Dayan

doi:10.26354/bb.3.4.93.2023

Published : 2024-02-19

Vol. 93 No. 4 (2023)

Common aspects of COVID-19 measures and sustainable banking principles. Case study of Turkey

Volkan Dayan

https://orcid.org/0000-0002-4297-4212

DOI: https://doi.org/10.26354/bb.3.4.93.2023

Abstract

COVID-19, which has spread rapidly around the world after this date, was officially detected in Turkey in March 2020. As in the rest of the world, many sectors in Turkey were negatively affected by the pandemic. One of the sectors most affected by the COVID-19 pandemic was the banking sector. Therefore, the Central Bank of the Republic of Turkey, the Banking Regulation and Supervision Agency, the Banks Association of Turkey and banks quickly published measures. The banking system was redesigned with masks, social distance and hygiene principles. New working order and financial products were created for the pandemic. "Sustainability Guidelines for the Banking Sector" announced by the Banks Association of Turkey is a guide for banks in Turkey. These principles, consisting of ten articles, create a framework for sustainable banking in Turkey. The purpose of this study is to determine how related the measures taken during the Covid-19 pandemic are to sustainable banking principles. To that end in this study, measures taken in compliance with COVID-19 regulations and sustainable banking principles were identified. Adaptive principles are grouped under common headings. The measures taken, the issues of "resilience and adaptability" and "economic recovery and resilience" came to the fore the most. Since there is no similar study in the literature, it is thought that it will guide regulatory authorities and academic studies.

Keywords:

banking, COVID-19 measures, sustainable banking, resilience

JEL Codes

I18, Q56, E50

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Dayan, V. (2024). Common aspects of COVID-19 measures and sustainable banking principles. Case study of Turkey. Safe Bank, 93(4), 50–63. https://doi.org/10.26354/bb.3.4.93.2023

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