One-party period of the Republic of Turkey One-party period of the Republic of Turkey The single-party period of the Republic of Turkey began with the formal establishment of the country in 1923. The Republican People's Party (CHP) was the only party between 1923 and 1945, when the National Development Party was established. After winning the first multiparty elections in 1946 by a landslide, the Republican People's Party lost the majority to the Democratic Party in the 1950 elections. During the single-party period, President Mustafa Kemal Atatürk repeatedly requested that opposition parties be established against the Republican People's Party in order to transition into multi-party democracy; in 1930,
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