Recent Development
The Regulation on the Amendment of the Regulation on the
Principles and Rules of Retail Trade
("Regulation") was published in the
Official Gazette No. 31159 on June 18, 2020.
What's New?
The tourism and aviation industries suffered various economic
problems due to low demand and travel restrictions and lockdowns
implemented to prevent the spread of COVID-19. The government has
provided and continues to provide aid to prevent and curtail these
economic problems.
On June 9, 2020, the Banking Regulatory and Supervisory
Authority ("BRSA") announced that
customers could pay airways, travel agents and accommodations
expenditures related to domestic tourism in 18-month installment
plans. The Regulation's publication established a legal basis
for the BRSA's decision.
