Ottoman Public Debt Administration
The Istanbul High School building was originally constructed as the Ottoman Public Debt Administration (OPDA) Headquarters.

The Ottoman Public Debt Administration (OPDA) (Ottoman Turkish: Düyun-u Umumiye-i Osmaniye Varidat-ı Muhassasa İdaresi, or simply Düyun-u Umumiye as it was popularly known), was a European-controlled organization that was established in 1881 to collect the payments which the Ottoman Empire owed to European companies in the Ottoman public debt. The OPDA became a vast, essentially independent bureaucracy within the Ottoman bureaucracy, run by the creditors. It employed 5,000 officials who collected taxes that were then turned over to the European creditors.[1] The OPDA played an important role in Ottoman financial affairs. Also, it was an intermediary with European companies seeking investment opportunities in the Ottoman Empire. In 1900, the OPDA was financing many railways and other industrial projects. The financial and commercial privileges of the non-Muslim foreigners were protected with the capitulations of the Ottoman Empire.

Further reading

  • Birdal, Murat. "The Political Economy of Ottoman Public Debt: Insolvency and European Financial Control in the late Nineteenth Century." 2010.

References

  1. ^ Donald Quataert, "The Ottoman Empire, 1700-1922" (published in 2000.)

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