One-party period of the Republic of Turkey the Liberal Republican Party was established but dissolved by its founder. The Progressive Republican Party had also been established in 1924 by Kazım Karabekir, but was banned after its members' involvement in the 1925 Sheikh Said rebellion. Despite Atatürk's efforts in establishing a self-propagating multi-party system during his presidency, this was only established after his death in 1938. With the establishment of the Republic of Turkey, efforts to modernize the country began. The institutions and constitutions of Western states such as France, Sweden, Italy, and Switzerland were analyzed and adapted according to the needs and characteristics of the Turkish nation.
Central Bank of the Republic of Turkey Central Bank of the Republic of Turkey The Central Bank of the Republic of Turkey, CBRT () is the central bank of Turkey and is founded as a joint stock company on 11 June 1930. Shares of the CBRT are divided into four classes. Class A shares belong solely to the Turkish Treasury. Class B and Class C shares are allocated to national banks operating in Turkey, banks other than national banks and privileged companies. Finally, Class D shares are allocated to Turkish commercial institutions and to real and legal persons of Turkish nationality. The CBRT determines, at its own