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.
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.
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.
15 Ağustos 2018 günü 30510 sayılı Resmi Gazete’de yayınlanan Finansal Sektöre Olan Borçların Yeniden Yapılandırılması Hakkında Yönetmelik’in 5’inci maddesi kapsamında Türkiye Bankalar Birliği tarafından hazırlanan Finansal Yeniden Yapılandırma Çerçeve Anlaşması Bankacılık Düzenleme ve Denetleme Kurumu tarafından onaylanarak yürürlüğe girdi.