Prof. Dr. Hasan Hacak, Director of the Savings Financing Application and Research Center (TASFİN), has been appointed Chairman of the Advisory Committee of the Association of Financial Institutions (FKB). Hacak assumed his new position as of July 1, 2026.
The FKB Advisory Committee is one of the new participation finance governance mechanisms established under the Communiqué on Compliance with Participation Principles issued by Türkiye’s Banking Regulation and Supervision Agency (BRSA) on December 19, 2025. Under the Communiqué, participation finance companies as well as leasing, factoring, financing, and asset management companies operating in accordance with participation principles may, subject to the conditions set out in the regulatory framework, obtain advisory committee services from the committee established within FKB.
The Advisory Committee is responsible for issuing decisions on participation principles and their implementation, reviewing the internal regulations of relevant institutions and standard contracts concerning their products and services, and reporting its decisions to the Central Advisory Committee. In this capacity, the Committee plays an important role in strengthening compliance with participation principles and the governance infrastructure of Türkiye’s non-bank financial sector.
Prof. Dr. Hasan Hacak, who has carried out extensive academic and sectoral work in the fields of Islamic law and participation finance for many years, serves as a faculty member at the Faculty of Islamic Sciences of Ibn Haldun University, and also continues to serve as Director of the Savings Financing Application and Research Center (TASFİN) and as a member of the Board of Directors of the Center for Applied Research in Islamic Economics and Finance (İEFM). Hacak previously served as Chairman of the Central Advisory Board within the Participation Banks Association of Turkey.
Prof. Hacak’s new role as Chair of the FKB Advisory Committee represents an important area of responsibility for strengthening the relationship between Islamic jurisprudence and participation finance practices and enhancing the governance and compliance capacity of participation finance across the non-bank financial sector.
As TASFİN, we congratulate our esteemed Prof. Dr. Hasan Hacak on his new appointment and wish him continued success in his work.
