The Committees for Risk Management and Bank Transactions at Turk Eximbank

Audit Committee

The Audit Committee was established by the decision of the Board of Directors dated 31 October 2006. On behalf of the Board of Directors, the Audit Committee is authorized and responsible for: ensuring the efficiency and adequacy of the internal control, risk management and internal audit systems; monitoring the operations of internal systems, accounting and reporting systems, and the integrity of the information generated by them in compliance with related legislation; and, during the Board of Directors’ process of choosing independent auditors, rating institutions, evaluation and support services firms, performing pre-assessment of candidates and regularly monitoring the activities of the selected institutions. The Regulations on the Procedure and Principles of the Operations of the Audit Committee was approved by the Board’s decision dated 5 February 2007.

Credit Committee

The Credit Committee is vested with the authority to issue to a real or legal person a domestic loan up to ten percent (10%) of the Bank’s equities provided that collaterals deemed appropriate by the Board of Directors are created. That kind of authority is limited for different types of guarantees.

The Credit Committee fulfills the said duty delegated thereto by the Board of Directors within the frame of the procedures and principles set out in the applicable legislation in accordance with Article 31 of the Bank’s Articles of Association.