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ARTICLE · 12 MARCH 2024

Exceptions Introduced To The Ban On Payments In Foreign Currency

The Regulation Amending the Communiqué (No: 2008-32/34) on the Decision No. 32 Regarding the Protection of the Value of Turkish Currency, published in the Official Gazette on 28.02.2024...

TurkeyCorporate/Commercial Law

The Regulation Amending the Communiqué (No: 2008-32/34) on the Decision No. 32 Regarding the Protection of the Value of Turkish Currency, published in the Official Gazette on 28.02.2024 (Communiqué No: 2024-32/69), introduced exceptional regulations by amending the provisions of the ban on payments in foreign currency.

What Has Changed?

With the new regulation, the subparagraphs added to paragraph 9 of article 8 of the Communiqué have been introduced as exceptions to the obligation to pay in Turkish currency. These are;

  1. Payments to be made in accordance with negotiable instruments (such as promissory notes, checks, bills of exchange, etc.) in circulation before 19.04.2022, within the scope of the performance of movable sales agreements concluded before this date,

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