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This Legal Alert seeks to provide information regarding the amendment made to Central Bank of Turkey’s Articles of Association for the monitoring of real and legal persons’ transactions that would affect their foreign currency positions
In parallel with the “Directive on Principles and Procedures Concerning the Monitoring of Transactions Affecting Foreign Currency Position by Central Bank of Turkey” published by the Central Bank of Turkey (“Central Bank”), which sets the rules regarding the newly enacted data tracking system, in the Official Gazette dated 23/06/2018, the Central Bank of Turkey published a decree for the amendment of Article 44 of its Articles of Association.
Pursuant to this amendment, Central Bank has been rendered authorized to request all kinds of documents and information (“Data”) from all real and legal persons that it would deem necessary for monitoring the transactions that affect such persons’ foreign currency positions.
With the amended version of the article,
 Please find Legal Alert that provide information pertaining to the Directive, published on our Firm’s website on 28/02/2018.