Article

There is no doubt that, from the viewpoint of its legal status, the Ottoman Bank cannot be considered a state bank. The heart of a true state bank should beat in tone with the heartbeat of the state's finances, to the point that it should act more under the influence of this heartbeat than under that of its own interest. Such sensitivity can only be found in banks established with national capital, and, most of all, by patriotic and nationalist groups. The Ottoman Bank is nothing more than a financial and commercial institution with its capital based in Europe, and operating in our country under exceptional conditions linked to its privileged status. The Ottoman Bank has been in Turkey for years and has actively influenced the economic life of the country. Painful as it may be, we have to admit that today we do not have any institution which, in terms of its capital or of its organisation, could claim to replace it. Yet, we should also add that the absence of such an institution today cannot be taken as a proof that it will never exist. We firmly believe that the days are not far when we shall prove the superior capacities of Turks in the field of finance and economy.