Are the banks open on the holiday, are the banks on administrative leave?

As the countdown to the Eid al-Adha holiday begins, President Erdogan announced how many days the Eid holiday will last. Eid al-Adha will be celebrated between June 28 and July 1, but with the inclusion of June 26 and 27 within the scope of the administrative license, the holiday has become 9 days in total.

WHAT IS THE ADMINISTRATIVE PERMIT?

Administrative leave, also known as administrative holiday, is a type of leave that covers public servants only within the scope of Law No. 657. Private sector employees, except public officials, cannot benefit from this leave when an administrative license is granted. Not only civil servants, but also state artists, municipal officials, state performing artists are considered to be on administrative leave. The administrative license, in a way, means the permission granted by the institution where the person works. The administrative license means that the working day is declared a holiday as a consequence of the decision of the Council of Ministers. This holiday is not a legal holiday, as the name suggests, it is a purely administrative holiday.

ARE THE BANKS OPEN ON HOLIDAYS?

Since the banks are from the private sector, they are not included in the scope of the administrative permit. According to Borsa Istanbul, banks are excluded from the 9-day holiday due to their operation and are expected to open on June 26-27.

Borsa İstanbul continued its operations during the last administrative leave and holidays, and was only open during the official holiday period.