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Finansal Kiralama, Faktoring ve Finansman Şirketleri Birliği ve Bağlı Ortaklıkları

Notes to the consolidated financial statements

as of December 31, 2016

(All amounts expressed in Turkish Lira (“TL”))

Finansal Kiralama, Faktoring ve Finansman Şirketleri Birliği Faktoring İktisadi İşletmesi

was established on February 27, 2014.

The Factoring Commercial Enterprise’s purpose and scope are as follows:

a) Making required investments in order to establish the system on which the information regarding transferred receivables

including the data of invoices will be consolidated; as it is mentioned in article 43, titled as ‘Central Invoice Recording’, of

Financial Leasing, Factoring and Financing Companies Law numbered 6361;

b) Making operating and personnel expenses for the system to be run on a regular basis

c) Achieving service revenue related to the registration process that is performed in order for the system to operate in a well-ordered

manner by performing any kind of activity and collecting fees for them

d) Generating revenue via various kinds of broadcast, published books, and magazines related to the Central Invoice Recording

System

e) Claiming extra fee, in case the information which is demanded from the Association members and banks is not provided in a full

and timely manner.

f) Providing revenue on books, magazines and all kind of publications related to Central Invoice Recording System.

g) Generating income via other activities performed according to the regulations published in accordance with the Financial Leasing,

Factoring and Financing Companies Law numbered 6361, Article 43 with the title Central Invoice Recording.

h) Investing the revenue collected as a result of its financial activities, and depositing the revenue to the bank accounts that are

deemed appropriate, being authorized for such actions.

i) Acting as a specific integrator within the scope of the Tax Procedure Law General Notification numbered 421.

j) Providing electronic invoice storage services under the Tax Procedure Law General Notification numbered 416, 421 and 424.

k) Providing “e-Archives” service under the Tax Procedure Law General Notification numbered 433.

I) Manufacturing, developing, handling and reproducing software in every kind of physical and electronic atmosphere, trading

of them and acting as a service provider for them which are electronic invoicing, electronic books, electronic invoice software

derived from or an integrated part of mentioned software and the service packages consisting of this software...

m) Producing services on internet, communication medium and all kinds of informatics and exporting, importing domestically

trading every kind of computer hardware, software whilst obeying the legislation.

n) Maintaining, repairing, modifying and leasing the mentioned hardware and software, performing activities for software

development and licencing, importing, exporting and domestically trading the related hardware and software.

o) Servicing for establishing and operating of computer systems

p) Organizing, seminars, symposiums, conferences and such education and consulting services on issues related to the activities and

services within the Factoring Commercial Enterprise and generating income for them.

Finansal Kiralama, Faktoring ve Finansman Şirketleri Birliği İktisadi İşletmesi

was established in March 24, 2014. The

Commercial Enterprise’s purpose and scope are as follows:

a) To conduct activities related to the expansion and development of the financial leasing, factoring ve finance companies in Turkey,

b) Conducting and promoting studies and research regarding financial leasing, factoring and finance companies in order to provide

highest level of service and quality,

c) To make necessary investments for the establishment of the systems for certification, training, testing and evaluation of the

creation and development of human resources of the sectors,

d) Making operational and personnel expenses for the system to run on a regular basis,

e) To prepare and implement educational programs in order to increase the number of specialized staff in the sectors and to promote

related sectors,

f) Organizing required promotions in order to ensure increasing the sector image to the highest level, to publish books, magazines

and brochures, preparing video band, CD, DVD etc., to take ads, to assume, import and sell the publication rights of related books,

to make periodical and non-periodical publication, to organize seminars, symposiums, and conferences on technicality, to organize

training courses towards the training of personnel working at member institutions and receiving entities,

g) To improve the feeling of social solidarity among employees of the Association’s member companies,

h) To organize various organizations, including dinner meetings Engaging activities in the areas which focus on generating revenues

from services within the area of activity

80

Annual Report 2016

The Association of Financial Institutions