16.12.2025 22:05
The local electronic money institution Papara is going through a critical process in recent weeks due to both judicial investigations and decisions from regulatory authorities. Developments that directly affect the company's operations gained a different dimension with a new ruling from the judiciary. In the lawsuit filed by the company against the Central Bank's decision to revoke Papara's operating license, the Ankara 2nd Administrative Court ruled to suspend the execution.
The decision to revoke the operating license of the domestic electronic money institution Papara has been overturned by the judiciary. In the lawsuit filed against the decision of the Central Bank of the Republic of Turkey, the Ankara 2nd Administrative Court ruled to suspend the execution in favor of Papara.
THE OPERATING LICENSE HAD BEEN REVOKED
As part of the illegal betting investigation conducted by the Istanbul Chief Public Prosecutor's Office, a trustee was appointed to Papara Electronic Money Inc. by the decision of the Istanbul 3rd Criminal Court of Peace dated May 27, 2025.
Following this process, the Central Bank of the Republic of Turkey revoked the operating license granted to Papara with its decision dated October 30, 2025, numbered 11929/21528. This decision was published in the Official Gazette dated October 31, 2025, and came into effect.
COURT RULING IN FAVOR OF PAPARA
After the revocation of the operating license, Papara filed a lawsuit at the Ankara 2nd Administrative Court for the annulment of the Central Bank's decision and requested a suspension of execution to protect its rights and interests.
On December 9, 2025, the court issued a provisional ruling, deciding to suspend the execution in favor of Papara.
PAPARA'S STATEMENT: "OPERATIONS WILL CONTINUE"
Following the decision, Papara announced to the public that it would continue its operations after reactivating its systems and infrastructure. The statement indicated that developments regarding the services to be launched and the processes would be shared regularly in accordance with the principle of transparency.
The company also emphasized that strict controls and inspections would continue in the fight against illegal betting as required by the legislation.
The full text of the statement made by Papara is as follows:
"As part of the illegal betting investigation conducted by the Istanbul Chief Public Prosecutor's Office, a trustee was appointed to Papara Electronic Money Inc. by the decision of the Istanbul 3rd Criminal Court of Peace dated 27.05.2025 and numbered 2025/5209 D. İş.
In the ongoing legal process, the decision of the Central Bank of the Republic of Turkey (CBRT) dated 30.10.2025 and numbered 11929/21528 was published in the Official Gazette dated 31.10.2025 and numbered 33063; with this decision, the operating license granted to Papara was revoked.
Following this decision, our company, in order to protect its rights and interests, filed a lawsuit for the annulment of the aforementioned decision, and by the provisional ruling dated 09.12.2025, it was decided to suspend the execution in favor of our company.
In this context, Papara will continue its operations following the reactivation of its systems and infrastructure. We would like to inform the public that developments regarding the services to be launched will be shared regularly in accordance with the principle of transparency. Additionally, we will continue our strict controls and inspections in the fight against illegal betting with due diligence as required by the legislation."