Turkey’s Central Bank Revokes Fintech Company Papara’s License Amid Illegal Betting Probe - Turkish Minute
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The Turkish Central Bank revoked the license of the Papara payment system, which was widely used by Russian tourists. According to the official Turkish government print authority Resmi Gazette, the Banking Regulation and Supervision Commission decided to revoke the licence.
Turkey’s central bank revokes fintech company Papara’s license amid illegal betting probe - Turkish Minute
Turkey’s central bank has revoked the operating license of İstanbul-based electronic money and payment services company Papara, following an investigation into alleged involvement in illegal betting activities that became public in May. The decision was published in the Official Gazette on Friday. The central bank said the company’s authorization to operate as an electronic money institution had been canceled under Articles 16 and 19 of Turkey’s…
Central Bank Revokes Papara's Operating License
Major Crisis Hits Turkish FinTech Giant: Electronic Money License Canceled Following Allegations of Money Laundering and Illegal Gambling Facilitation. What Happens to Millions of Users? ANKARA, Turkey – A monumental decision has been issued concerning Papara Elektronik Para A.Ş., one of Turkey’s most recognized and rapidly growing financial technology (fintech) firms. The Central Bank of the Republic of Turkey (TCMB) has officially revoked Papa…
The Central Bank of Turkey has revoked the license of the Papara payment system, which is popular among Russians. Published on October 31, 2025 at 9:25 AM – By Sarah Müller – Reading time: 2 minutes Listen to the article here Play Pause Stop /* Modernized button reduced */ .modern-btn { padding: 8px 16px; font-size: 14px; border: none; border-radius: 4px; background-color: #0073aa; color: #fff; cursor: pointer; transition: background-col…
Papara Electronic Money Inc.'s operating license was revoked by a Central Bank decision published in the Official Gazette. The SDIF had previously been appointed as a trustee for the company as part of the investigation.
The Central Bank of the Republic of Turkey (CBRT) revoked the license of Papara Electronic Money Inc. to issue Electronic Money.
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