History of the Republic of Turkey of modern Turkey begins with the foundation of the republic on October 29, 1923, with Kemal as its first president. The government was formed from the Ankara-based revolutionary group, led by Mustafa Kemal Atatürk and his colleagues. The second constitution was ratified by the Grand National Assembly on April 20, 1924. For about the next 10 years, the country saw a steady process of secular Westernization through Atatürk's Reforms, which included the unification of education; the discontinuation of religious and other titles; the closure of Islamic courts and the replacement of Islamic canon law with a secular civil code modeled
Central Bank of the Republic of Turkey second stage of the reform was launched by removing the prefix “New” used on the “New Turkish lira” and “New kuruş”, and Turkish lira banknotes and coins were put into circulation with new designs and sizes. As of today, the Central Bank of the Republic of Turkey, as a credible institution, pursues its policy implementations with its qualified staff members and modern infrastructure within an ever-dynamic framework by keeping a close watch on global and domestic developments. As the country’s monetary authority, the CBRT is responsible for conducting monetary and exchange rate policies in Turkey, with the primary objective of