500 Livres

The Ottoman Public Debt Administration was not a bank — it was a foreign creditor body established in 1881 to manage repayment of the empire's defaulted external debt, staffed largely by European bondholders' representatives. That it began issuing emergency paper currency in 1916 reflects how completely the empire's financial infrastructure had collapsed under wartime strain, with the Imperial Treasury unable to meet even basic liquidity demands without ceding the function to this quasi-sovereign foreign-controlled agency.

The 500 Livres denomination was the highest in the P#114 series, almost certainly too large for ordinary retail use and likely intended for inter-institutional settlements. High-denomination wartime issues of this type were frequently cancelled or destroyed before the armistice ended their relevance.