Union of Chambers and Commodity Exchanges of Turkey

The ceremony between TOBB and Halkbank, in which the agreement was signed, was conducted online.

TOBB President M. Rifat Hisarcıklıoğlu said that thanks to Halkbank Paraf commercial credit card, the problems experienced by tradesmen in their transactions such as futures trade, taking out loans from banks and cheques promissory notes will end.

Hisarcıklıoğlu stated that this card makes the supply chain work safely.

“This card opens the way for buyers and sellers to shop safely. In this way, we will sell our goods safely without needing to keep track of cheques/promissory notes, without dealing with collection problems. We will charge the price of the goods we sell in advance or in installments with Halkbank guarantee, without the risks collection. Those who want to buy goods will not have to find a loan from the bank or whether the seller will accept their cheques. With this card, they will receive their goods and pay with flexible maturity, up to 1.5 years. In short, when you need to buy goods, you buy with this card without paying. And the seller will sell his property safely and collect his money from the bank without worrying about who it is. Thus, both the buyer and seller will relieve their cash flow.”

Hisarcıklıoğlu said that this is an example of a win-win approach and that this card also offers its members other discounts and advantageous campaigns.

Hisarcıklıoğlu stated that Halkbank added TOBB's logo to this credit card in a welcome gesture, “All members of our Assembly will be able to benefit from this system both as sellers and buyers within the limits to be determined by HalkBank according to turnover and creditworthiness. This system, which will secure the supply chain, will also help SMEs reduce loan interest. Falling financing costs will encourage SMEs to invest and produce. The financial stability of SMEs and therefore our country will be strengthened.”

- Up to 18 month term payment to the buyer

Halkbank General Manager Osman Arslan also said that with the agreement, as the people's bank, they brought a collection guarantee to the seller in the supply chain and the flexibility to pay the buyer a term payment of up to 18 months.

While addressing the advantages they will offer TOBB members, Arslan said:

“The card of this agreement will be the Paraf SME Credit Card with the TOBB logo on it. Paraf SME Credit Card with TOBB logo will provide flexible installments and maturity opportunities for purchases to the owners. On the other hand, Paraf SME POS will offer an advantageous POS price model specific to its member businesses. With these services, which will regulate cash flow between TOBB member buyers and sellers, all commercial transactions in the supply chain will be carried out with Halkbank assurance and Paraf advantages.”

Arslan stated that all campaigns and facilities of the Paraf Commercial Cards Family, which consists of Paraf Trades and Paraf Business together with Paraf SME, will also apply to 1.5 million TOBB member enterprises which are the engine of the Turkish economy.

Stating that the coverage of responsible banking understanding will expand further with this agreement, Arslan said, “Today, as it has been for 82 years, it allows us to support the real sector for more production, more employment and exports. This deal lets us get closer to our goals. We entered 2021 with such a big step. From now on, we're going to take big, solid steps forward. As HalkBank, we will achieve all our goals one by one in order to contribute more to our country's economy.”

- Benefits for sellers and buyer companies

Vendors will have the opportunity to sell goods and services in advance, installments or futures and to sell with POS in 4 different models according to customers' cash cycles in multiple years.

Operational risk and financing costs will be eliminated by collecting money with Paraf Commercial Credit Cards instead of money transfer, cheques, promissory notes, letters of guarantee.

Collections of vendor companies will be secured with a special Paraf Commercial Credit Card limit that can only be used exclusively for the seller. If necessary, customer loyalty will be ensured with the limit definition of closed circuit, valid only in member business.

By accepting POS sales as collateral, more cost-effective loans as well as accounting and registration convenience will be granted.

Buyer companies will have the opportunity to buy cost-free, futures goods while providing easy access to financing.

Up to 540 days of installments, maturity or flexible maturity will be provided for purchases of goods and services, as well as easy and cost-effective trading with Paraf Commercial Credit Cards instead of loans, checks, promissory notes, letters of guarantee, and operational risks such as the risk of carrying cash will be eliminated.

Buyers will have the convenience of regularly tracking and accounting for goods purchase and payment records.