RESCRIPT ON RE-DETERMINATION OF MINIMUM EQUITY AMOUNTS OF PAYMENT AND ELECTRONIC MONEY ESTABLISHMENTS
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Regulation on Payment Services and Electronic Money Issuance with Payment Service Providers entered into force with its publication in the Official Gazette dated 01.12.2021 and numbered 31676. In the 1st paragraph of the 33rd article of the relevant Regulation, titled “Minimum Equity Liability and Professional Liability Insurance”, the minimum equity liability amount has been determined as three million Turkish Liras in payment establishments that intervene invoice payments, five million Turkish liras in other payment establishments and thirteen million Turkish liras in electronic money establishments. Subsequently on the paragraph, it is remarked that every year in January, Central Bank of the Republic of Turkey is reassessing the minimum equity liability amounts that determined within this paragraph by taking into consideration of the annual changes in the price indices published by the Turkish Statistical Institute.
In accordance with the rescript published in the Official Gazette dated 22.01.2022 and numbered 31727, the minimum equity liabilities have been increased;
- From three million Turkish liras to five million five hundred thousand Turkish Liras in payment establishments that intervene invoice payments,
- From five million Turkish lira to nine million Turkish Liras in other payment establishments,
- From thirteen million Turkish liras to twenty-five million Turkish Liras in electronic money establishments.
The current minimum equity liability amounts that determined by the Central Bank of the Republic of Turkey for payment and electronic money establishments will come into effect on April 1, 2022.