Union of Chambers and Commodity Exchanges of Turkey

Salih Zeki Murzioğlu, Vice President of TOBB, delivered the opening speech of the meeting and said, “The principles of collateral were set out in the Commercial Business Pledge Act, which has been in force since 1972. However, we have stated on many platforms that the Law was inadequate to respond to today's economic needs and had problems in practice. An important step has been taken with the at Chattel Mortgage in Commercial Transactions Law approved in 2016 and which entered into effect on January 1^st, 2017.