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Banking & Finance

Legal Alert

26.12.2018

Central Bank of Turkey introduced new rules, one of which enables revolving loans denominated in foreign currency to be utilized by Turkish residents under certain conditions.

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Briefing Notes

19.11.2018

The Ministry of Treasury and Finance issued the Communiqué numbered 2018-32/52 on 16 November 2018 that revises certain provisions of the Communique numbered 2018-32/34 on implementation of the ban on foreign currency contracts.

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Briefing Notes

08.10.2018

Following the recent Decree of the Presidency of the Republic of Turkey dated 13 September 2018, (Decree No: 85) that bans to use foreign currencies in contracts between Turkish residents, the Ministry of Treasury and Finance issued the Communiqué numbered 2018-32/51 on October 6, 2018, (the “Communique”) that clarifies implementation of the Decree and clarification of certain exemptions.

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Legal Alert

04.10.2018

Following the recent Decree of the Presidency of the Republic of Turkey dated 13 September 2018 (Decree No: 85) that bans to use foreign currencies in contracts between Turkish residents, the Ministry of Treasury and Finance circulated a draft Communique on October 3, 2018, to receive opinions of relevant parties on implementation of the referred Decree and clarification of applicable exemptions.

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Legal Alert

22.09.2018

Central Bank of Turkey allowed Turkish residents to borrow foreign currency (“FX”) loans from Technology Development Foundation of Turkey (“TDF”) without being required to have FX income.

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Legal Alert

22.09.2018

The Financial Restructuring Framework Agreement (“Framework Agreement”) drafted by the Banks Association of Turkey (“BAT”) pursuant to Article 5 of the Regulation on Restructuring of Debts to Financial Sector published in the Official Gazette dated 15 August 2018 and No. 30510 (“Regulation”) has been approved by Banking Regulation and Supervision Agency (“BRSA”) and has entered into force.

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