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Vakıf Katılım Broke New Ground in Turkiye with Guaranteed Fund Transfer

22 Kasım 2021
Vakıf Katılım Broke New Ground in Turkiye with Guaranteed Fund Transfer /

Vakıf Katılım has broken new ground in Turkey with its digital payment method Guaranteed Fund Transfer (GFT) product which enables the businesses purchasing goods and services to make deferred payments under the guarantee of Vakıf Katılım. The businesses selling goods and services can divide the digital balance in their Guaranteed Fund Transfer (GFT) account before maturity date and easily make their payments in safer environment.

Having brought a breath of fresh air to the participation finance world, Vakıf Katılım continues its efforts to enable the businesses to carry out their commercial activities more efficiently and quickly. With its new product, Guaranteed Fund Transfer (GFT), Vakıf Katılım has broken new ground in banking sector and offers a payment infrastructure which secures the cash cycle of the businesses engaged in forward purchases and sales with a divisible and transferable digital payment system.

With GFT, which is described as the deferred payment instrument of the future, deferred payments are transferred digitally to the accounts of companies that sell goods or services. If the company whose GFT balance is transferred to its account, can use the GFT received until the maturity date by dividing it into the amounts needed for the payment of other commercial transactions it is owed. Thus, the non-cash financing process, which was initially initiated for a single commercial transaction of a customer, provides the opportunity for more companies to mobilize many commercial transactions

The transfer and circulation of GFT, which can be made via the Internet and Mobile Branch or the nearest Vakıf Katılım branch, is as fast, easy and simultaneous as money transfer and EFT

It is quite easy to open a Guaranteed Fund Transfer (GFT) Account

All commercial enterprises that are customers of Vakıf Katılım can open a GFT account through Vakıf Katılım branches or the Internet and Mobile Branch, while businesses that are not Vakıf Katılım customers can go to the nearest Vakıf Katılım branch to open a GFT account.

İkram Göktaş: “Businesses will not face collection and financing problems and it will increase the confidence in markets”

İkram Göktaş, the General Manager of Vakıf Katılım, made a statement on this matter and stated that: “As Vakıf Katılım, thanks to GFT, which is a first in the banking sector, companies have strengthened their cash management, added purchasing power to timed receivables, thus both contributing to the country’s economy and facilitating the payments of businesses. We are happy to provide our commercial enterprises with the guarantee of our institution to ensure that they do not incur any damage while making their collections and payments, and to enable them to perform their commercial transactions much faster and more effectively.” used the expressions

“Guaranteed Fund Transfer (GFT) is a payment commitment of Vakıf Katılım”

Having emphasized that Vakıf Katılım customers can now make other commercial payments without waiting for the due date with the GFTs in their accounts, which are not yet due, and that GFT is Vakıf Katılım’s payment commitment, Mr. Göktaş continued his words as follows: “With GFT, we contribute to the fact that commercial enterprises carry out their activities in a trust relationship with each other and thus focus more on their production in the purchase and sale of goods or services. Our product is also important for being used in payments, with the opportunity to be divided and transferred at the initiative of the enterprise with GFT in its account, and to remain in circulation until the maturity date. I sincerely congratulate all my colleagues for their efforts in the implementation of such an important product, which will perform much more than many banking products such as checks, promissory notes and DDS, which includes maturity and payment commitment, for all our customers after 6 months of pilot work. We will continue to work with great enthusiasm and energy in the upcoming period, as we have done so far, for the further revival of the commercial life of our country.”