OECD Corporate Governance Factbook 2025: Türkiye
Table of contents
This Country Note consolidates information published in the 2025 edition of the OECD Corporate Governance Factbook. Along with the summary of recent developments, it provides an overview of Türkiye’s corporate governance framework and related information benchmarked against 51 other jurisdictions covered by the Factbook, including all OECD and G20 members.
The information in this document is as of 31 December 2024 unless otherwise specified.
For further details, please refer to the OECD Corporate Governance Factbook 2025.
In December 2023, the Public Oversight Authority (POA) issued the Sustainability Reporting Standards aligned with global standards and determined their mandatory implementation, starting from fiscal year 2024, with companies operating in the financial sector and those listed on Borsa Istanbul and meeting specific criteria. In September 2024, POA made assurance audits mandatory for sustainability reporting.
In February 2024, the Capital Markets Board (CMB) introduced the “Stewardship Principles” concerning mutual funds. These principles aim to ensure the assets of investment funds are directed, managed, and supervised in a responsible manner, with the objective of creating long-term value for all stakeholders while also delivering sustainable benefits for the economy, the environment, and society.
In November 2024, the “Stewardship Principles” were accepted as a separate guideline to include all regulations related to the subject, including the reporting standard to be followed. The first reporting period for the asset management companies that decide to comply with the principles will start in 2026.
In September 2024, CMB published for public consultation draft guidelines on green, sustainable, social and sustainability-linked capital market instruments, to support climate-focused and socially impactful projects, and set standards on reporting and external review.
In February 2025, work began for amendments to the Corporate Governance Communiqué No. II-17.1, to introduce provisions regarding the capital market licenses required for investor relations managers of publicly traded companies, as well as regulations related to collateral, pledge and mortgage restrictions applicable to such companies. Also, some amendments are anticipated to increase representation of women on boards of directors.
|
No. of listed companies in Dec 2024 |
Change since Dec 2021 |
Market capitalisation in Dec 2024 |
Ratio to GDP |
||
|---|---|---|---|---|---|
|
Türkiye |
465 |
|
19.2% |
USD 358 bn |
27.1% |
|
OECD members |
21 618 |
|
4.3% |
USD 92 518 bn |
136.5% |
|
World |
46 086 |
|
11.3% |
USD 124 536 bn |
112.7% |
Note: “World” covers 98 jurisdictions. “OECD members” covers 38 countries.
Source: OECD Capital Market Series Dataset. IMF.
Note: “World” covers 98 jurisdictions.
Source: OECD Capital Market Series Dataset.
Note: The share of companies in each jurisdiction where the single largest shareholder and the three largest shareholders own more than 50% of the company’s equity capital. “World” covers 98 jurisdictions.
Source: OECD Capital Market Series Dataset.
The categories that the jurisdiction fits into are highlighted in blue.
The bold numbers and words indicate country-specific additional information.
The numbers within parentheses indicate the number of jurisdictions applicable to each category.
For further information on the methodologies used for the categorisations, please see the OECD Corporate Governance Factbook 2025.
* Some jurisdictions belong to multiple categories because of the additional requirements other than a percentage of shareholding.
* Jurisdictions where mandatory takeover bid rules exist are included.
** Some jurisdictions belong to multiple categories.
* Some jurisdictions belong to multiple categories.
* Binding for directors’ remuneration.
* Some jurisdictions belong to multiple categories.
* Some jurisdictions belong to multiple categories.