Central Bank Issues Guidelines: Clarifying Bank Fees And Commissions

Recent Developments

The Central Bank Guidelines Regarding Fees That Banks Can Charge Corporate Clients ("Guidelines") was updated in line with the amendments to the Communiqué on the Procedures and Principles Regarding Fees That Banks Can Charge Corporate Clients ("Communiqué") dated March 29, 2020. The Guidelines clarify a number of matters that were at the center of debate among Turkish banks after the Communiqué entered into force.

The Guidelines 

• Regarding loans provided together with bank(s) or other institution(s) established abroad that are not subject to the provisions of the Communiqué, such as syndicated facilities; provided that (i) the aforementioned banks and institutions are also parties to the facility agreement with the corporate client; and (ii) the agreement is subject to foreign law within the scope of the International Private and Civil Procedure Law, the products and services offered within the scope of this agreement will be excluded