The Agricultural Credit Cooperatives of Turkey Serbia which was Ottoman territory at the time), with the establishment of “Homeland Funds” (“Memleket Sandıkları”) in 1863 and it gained pace with the foundation of the Republic of Turkey as new laws on cooperatives were enacted. The ACC with its modern nomenclature and structure was established based on law number 2836 which was passed in 1935. The ACC’s foundation was supported by the first president of the Republic of Turkey Kemal Atatürk who was also the first member of the cooperative in Silifke – Tekir Çiftliği. Due to the enforcement of law number 1581 on Agricultural Credit Cooperatives and
Central Bank of the Republic of Turkey necessary to ensure stability of the Turkish currency. Following these developments, the Government took the initiative to draft the necessary legal framework for the establishment of a central bank, and a draft was prepared for the Central Bank with the contributions of Prof. Leon Morf from the University of Lausanne. The law was enacted by the Grand National Assembly of Turkey on 11 June 1930, and published in the Official Gazette of 30 June 1930 under the name “The Law on the Central Bank of the Republic of Turkey No. 1715”. Following the centralization of duties carried out by various