Journal of Finance and Accountancy Globalization of financial markets, Page, 1 Globalization of financial markets and reflexion to Turkish small and medium size enterprises (SME): Basel II

Bank for International Settlements (BIS) is an international enterprise formed by the central banks of various countries in 1930. A working group, the “Basel Committee ” had been created within the BIS in 1974, to conduct studies on banking. The aim of the financing function is to collect, under optimum conditions, the funds that the firms require, and provide effective usage of these funds. As far back as the early 20th Century in USA and Europe, significant improvements had emerged in the financial management field. Recently, significant improvements have materialized in banking, risk management application, techniques and control approach. Credit institutions and the enterprises which demand credit will be directly affected from this application by the start of adhibition of the Basel II criteria. In this study, the effects of Basel II application on Turkish Small and Medium Scale Enterprises will be examined