Ziraat Bank

Ziraat BankasiBank is a Turkish state-owned bank, established in 1863.

Ziraat Bankasi is a Turkish state-owned bank, established in 1863.

The idea of and tendency to organize the current organization in the form of a bank developed when the facts that the Cases for Public Benefits did not satisfy the needs, a revision was essentially required from the administrative aspect, and their resources were limited were added; this issue was thought about in all seriousness by Abdul Hamid II, as well. In the minutes submitted by the Grand Vizier Kamil Pasha to the Cabinet and Abdul Hamid II, the necessity for the abolition of Cases for Public Benefits as they could not function anymore and establishment of Ziraat Bank instead was written down. Upon entry into force of the minutes in question with the confirmation and approval of Abdul Hamid II; Ziraat Bank, a modern financial institution that would succeed Cases for Public Benefits, was officially established on August 15, 1888 and Cases for Public Benefits that were active in that period were transformed into bank branches and went into action. Public benefit shares, which constituted the financial resource for Cases for Public Benefits until that day, were transferred to the bank and the next funds were also allocated to the capital of the bank. A new era of organized agricultural credits in our history was entered into after such step was taken.