Ordu Yardımlaşma Kurumu (OYAK) (English: Military Solidarity Institution), is a Turkish charity and military pension fund with around 470,000 members.[5] The OYAK Holding Investment Subsidiary Group is one of the largest industrial groups in Turkey.[6]
The group was the former owner of ING Oyak Bank, sold to ING Bank in 2007, and the Oypa supermarket chain. In 2012, it was rated BB+/stable by Standard & Poor's.[7] The group co-owns car manufacturer Oyak-Renault and steel producer Erdemir. OYAK Group of Companies added Sagra to its structure in April 2021.[8] OYAK is on the global coal exit list published by Urgewald because it owns İsken Sugözü power station.<[9]
OYAK is a private entity that is subject to Turkish civic and commercial law. OYAK, also offers services such as consumer loans, housing loans, pension system, stock market investment support to its members.<[10]
OYAK provides members with supplementary retirement benefits apart from the official retirement fund, Emekli Sandığı and SSK, to which they are primarily affiliated. In addition to retirement benefits, OYAK pays disability benefits to members when they become partially or fully disabled, and provides death benefits to the deceased's heirs.
Structure
OYAK Group companies
In the industrial sector, the OYAK Group companies include iron and steel, chemistry, cement manufacturing, electricity and automotive.
Affiliated companies
Affiliated companies and investments include:
External links
- OYAK (Official Website)
- Military-Economic Structure in Turkey: Present Situation, Problems, and Solutions, İsmet Akça, TESEV, July 2010. ISBN 978-605-5832-45-2
- The Turkish Aid and Institution Law, passed in 1961
Companies Traded on Borsa Istanbul
References
- OYAK Yatirim, About Oyak Group^
- OYAK, OYAK Group Subsidiaries^
- Barış Terkoğlu. Üzgünüm ama Sedat Peker haklı çıktı Cumhuriyet, 21 June 2021, retrieved 19 September 2021^
- OYAK, 16 Aug 2019o, OYAK in Numbers^
- Turkey’s Army Pension Fund to Sell Two Stakes to Taiwan Cement Bloomberg.com, 2023-11-28, retrieved 2023-12-31^
- Euromoney, Oyak: Army advances on the investment front^
- Standard & Poor's, 4 December 2012, Summary: OYAK (Ordu Yardimlasma Kurumu)^
- Banka Gazete. Sagra OYAK ile pazar payını ikiye, ihracatını beşe katlayacak Gazete Banka, 23 November 2021, retrieved 23 November 2021^
- Global Coal Exit List www.coalexit.org, retrieved 2022-10-06^
- Banka Gazete. Oyak Yatırım hisse önerileri Gazete Banka, 21 November 2021, retrieved 21 November 2021^
- securities.com, Oyak Insaat A S^
- reuters.com, OYAK Yatirim Ortakligi AS (OYAYO.IS)^
- Oyak Renault Hakkında – Oyak Renault Otomobil Fabrikaları 23 January 2019^
- Oyak Yatirim, About Oyak Securities^