ARTICLE · 24 FEBRUARY 2010

The Turkish Update - Third Quarter 2009

Güner Law Office

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Various amendments to the Communiqué No. 2008-32/34 on Protection of Turkish Currency came into effect on 11 July 2009.

TurkeyInternational Law

Guner Law Office

Part 1 - Legal developments

Banking and Finance

Finance companies can extend foreign currency indexed loans:

Various amendments to the Communiqué No. 2008-32/34 on Protection of Turkish Currency came into effect on 11 July 2009. The amendments enable "finance companies" (as referred to in the Banking Law (Law No. 5411)) to extend foreign currency indexed loans to real persons and legal entities. "Finance companies" can only extend these loans to real persons if those loans are for "commercial and occupational purposes".

New measures for gold, silver and platinum loans:

The amendments to the Communiqué No. 2008-32/35 on Protection of Turkish Currency made on 24 July 2009 introduced various new measures:

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