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ARTICLE · 08 MARCH 2024

Foreign Currency Payment Ban Relaxed

Esin Attorney Partnership
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The Communiqué Amending the Communiqué on Decree No. 32 on the Protection of the Value of the Turkish Currency (Communiqué No: 2008-32/34)...

TurkeyFinance and Banking
Muhsin Keskin
Muhsin Keskin
Can Sozer
Can Sozer
Aybuke Gundel Solak
Aybuke Gundel Solak
Seray Karaalp
Seray Karaalp
Serap Suer
Serap Suer
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Recent developments

The Communiqué Amending the Communiqué on Decree No. 32 on the Protection of the Value of the Turkish Currency (Communiqué No: 2008-32/34) (the "Communiqué") was published and entered into force on February 28, 2024 (the "Amending Communiqué"). You can access the Amending Communiqué here.

What's new?

On April 19, 2022, the amendment to the Communiqué prohibited the settlement in foreign currency of payment obligations arising from movable sales contracts other than vehicle sales contracts concluded between Turkish residents. You can access our legal alert on the implementation principles of this regulation here.

The Amending Communiqué introduces certain exceptions to the provision on the fulfillment and acceptance of payment obligations in Turkish Lira for movable sales contracts other than vehicle sales contracts. Accordingly, payments related to the following movable sales contracts between Turkish residents can be made in foreign

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