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ARTICLE · 05 APRIL 2018

New Era For FX Loans And FX Denominated Loans

ELIG Gürkaynak Attorneys-at-Law
ELIG Gürkaynak Attorneys-at-Law
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ELIG Gürkaynak Attorneys-at-Law

ELIG Gürkaynak Attorneys-at-Law

ELIG Gürkaynak Attorneys-at-Law is an eminent, independent Turkish law firm based in Istanbul. The...

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This article will address major amendments and novelties stipulated for foreign exchange and foreign exchange denominated loans.

TurkeyFinance and Banking
Gönenç Gürkaynak
Gönenç Gürkaynak
Damla Doğancalı
Damla Doğancalı
Selen Ermanlı Sakar
Selen Ermanlı Sakar
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I. Legal Framework

This article will address major amendments and novelties stipulated for foreign exchange and foreign exchange denominated loans.

In the first quarter of 2018, taking into consideration the current foreign exchange risks, the Council of Ministers announced a decree and a communiqué amending Decree No. 32 on Protection of the Value of Turkish Currency (published in the Official Gazette dated August 11, 1989, No. 20249) (the "Decree No. 32") and the Communiqué on Decree No. 32 on Protection of the Value of Turkish Currency (published in the Official Gazette dated February 28, 2008 and numbered 26801) (the "Communiqué No. 2008-32/34"), in the Official Gazette dated January 25, 2018, which will be put into force on May 2, 2018.

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