The CBRT is the only bank with the authority to print and issue banknotes in Turkey. This authority was exclusively and indefinitely delegated to the Bank by the Grand National Assembly of Turkey through the following procedures:
- Article 87 of the Constitution of the Republic of Turkey stipulates that the authority to print banknotes belongs to the Grand National Assembly of Turkey. However, the Assembly granted this authority to the CBRT following the enactment of the CBRT Law No.1715 dated 11 June 1930.
- Under Article 1 of the Law No.1715, the privilege of issuing banknotes was given exclusively to the CBRT for a period of 30 years which could be extended by a decision taken 5 years prior to the end of this period.
- With Article 1 of the Law No.6544 dated 27 April 1955, the 30-year period was extended until 1999.
- In the new CBRT Law No.1211 dated 14 January 1970, the article related to the privilege of issuing banknotes was kept intact.
- With the enactment of the Law No.3985 dated 21 April 1994, the time limit on the authority to issue banknotes was removed completely.