Union of Chambers and Commodity Exchanges of Turkey

Hisarcıklıoğlu replied to reporters on his way back from Eskişehir that the ratio of dishonored checks has risen greatly and they are working on a project to lessen risks for time bargains.

Rifat Hisarcıklıoğlu reported that their work would present buyers with their unique passwords which they could provide to the seller for time bargains which would give the seller a limited time access to the buyer’s background information.

Stating that this system has been requested by TOBB, Hisarcıklıoğlu said, “We have prepared the technical infrastructure. We were promised that the ‘Credit Registry Bureau’ and the ‘Risk Centralization Center’ would be turned over to the Turkey Banks Union and TOBB.”

Hisarcıklıoğlu reminded that this request has been protested by banks but the protests have since then been abandoned.

“Hopefully by the end of this year, we will get to see a list detailing positive and negative records of customers wishing to buy goods on a time bargain, with their permission,” said Hisarcıklıoğlu.

Stating that this cannot be the only solution to the problem of dishonored checks, Hisarcıklıoğlu said that this would be a risk lowering application in time bargains.

- “Debt insurance”

Drawing attention to their work on debt insurance, Hisarcıklıoğlu explained the concept as “lowering time bargain risks by insuring deferred sales to a certain amount.”

Stating that another advantage to this is that it will lower costs for SMEs’ usage of credit, Hisarcıklıoğlu said, “Because it will stop being a risk for banks. The fall of credit costs will trigger a drop in inflation as well.”

Stating that 3 foreign companies are working on this at the moment, Hisarcıklıoğlu reported that they are holding meetings with all insurance and reassurance companies to popularize debt insurance.

Emphasizing that debt insurance is used widely in the USA and the Western countries, Hisarcıklıoğlu stated there is also infrastructure work necessary for its implementation.

- “SME hospital”

Rifat Hisarcıklıoğlu stated that SMEs need consultation to expand their companies and that while large companies have access to consultation, SMEs are unable to afford these services.

Hisarcıklıoğlu stated that approximately 20 European Union Turkey Business Development Centers Network (ABİGEM) offices they established provide SMEs with consultation services at very reasonable prices.

Hisarcıklıoğlu said, regarding ABİGEM’s consultation services, “If an establishment wants to export, to provide it with consultation in order to bring its goods to market; to introduce the establishment to suitable financing issues, EU and Development Agencies’ grant funding workings as well as assisting the establishment in providing vocational training to its personnel if necessary. ABİGEMs are like hospitals for SMEs with the treatment they provide.”

Stating that they undertake many projects as TOBB, Hisarcıklıoğlu said, “French and German Chambers Unions’ presidents visited us. Both came to us saying ‘How can we help you?’ By the time they left they were saying, ‘We’ve nothing to teach and there are things we can learn from you.’”
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