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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.

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.

Regulatory burdens on minority legal entity shareholders of rating agencies have been reduced.

With the recent amendment, Central Bank of Turkey starts to monitor the foreign currency positions of metropolitan municipalities, municipalities, public economic enterprises and universities.

Ministry of Trade published “Communiqué on the Rules and Procedures Regarding the Implementation of Article 376 of the Turkish Commercial Code".