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ARTICLE · 22 SEPTEMBER 2008

The Turkish Update - 1st Quarter, 2008

Güner Law Office
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This is the First Quarter 2008 Edition of our email news service - The Turkish Update. This edition provides concise summaries of sector-specific legal developments in Turkey through January, February and March 2008 and, for the first time, also includes brief articles on "Hot Topics" in Turkish law for the future.

TurkeyFinance and Banking
Guner Law Office
Guner Law Office

This is the First Quarter 2008 Edition of our email news service – The Turkish Update. This edition provides concise summaries of sector-specific legal developments in Turkey through January, February and March 2008 and, for the first time, also includes brief articles on "Hot Topics" in Turkish law for the future.

Part 1 - Legal developments

Banking - Asset and trade finance

Exports no longer have to repatriate their export revenues: The Decree of the Council of Ministers which Amends the Decree of Council of Ministers on Protection of the Value of Turkish Currency No.32 (the Decree) was published in the Official Gazette on 8 February 2008. The Decree removed the requirement for exporters to repatriate their export revenues within 180 days of the physical export date and currently, therefore, the disposition of such revenues is no longer subject to any specific procedure.

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