The Regulation Regarding Remote Identification Procedures to be used by Financial Leasing, Factoring, Financing, and Savings Finance Companies and Establishment of Contractual Relations in Electronic Environment (“Regulation”) has been published on the Official Gazette dated January 11th, 2022.[1]

In accordance with the Regulation; financial leasing, factoring, financing, and savings finance companies will be able to identify customers online through video meetings when gaining new customers and to execute a contractual relationship with them regarding the services to be provided, through an informatics or an electronic communications device after verifying the identity of the customers. Thus, pursuant to the Regulation financial institutions aside from banks have the opportunity to gain customers remotely.

The Regulation regulates the procedures and principles that will be applied to the online identification process in detail. Following the remote identification within the scope of the conditions stated in the Regulation or the face-to-face identification of customer, a contractual relationship that will substitute the written form requirement, between the company and the customer regarding the transactions that the customer demands will be executed in the event of the completion of the followings:

  • All conditions of the relevant agreement shall be sent to the customer in a way that the customer can read them through online or mobile service channels,
  • The customer shall present their declaration of intent regarding the execution of the agreement,
  • The agreement shall be signed by the cyphered key exclusive of the customer.

The declaration of intent of the customer to be given during the video meeting is sufficient in order to establish contractual relations between the company and the customer regarding the services to be provided to the customer.


[1] The regulation will be enforced on February 11th, 2022.

Meltem Güneş
Nazay Cakcak