After the First World War, on account of the global trend of nations to formulate their monetary policies independently by establishing their respective central banks, which would be authorized to issue money, and to reinforce the political independence gained in the War of Independence with economic independence, deliberations about the establishment of a central bank in Turkey gained pace. This issue was first addressed in the 1923 Izmir Economic Congress with a special emphasis on founding a “national state bank”. In 1927, the Minister of Finance Abdülhalik Renda submitted a draft bill on the establishment of a central bank. Following the enactment of the law, Turkey exchanged views with the central banks of other countries’ in establishing the Turkish Central Bank.