The scope of activity for organizations conducting foreign exchange transactions in Turkey has been extended. Authorized organizations may now buy, sell and exchange foreign currency via bank transfer, provided they place the transfer order on the same day as their customers, or the actual physical delivery is made on the same day. The regulatory change represents the re-enactment of a previously repealed provision (Article 3(d)).

The Communiqué Amending the Communiqué No. 2008-32/34 on the Decision No. 32 Concerning Protection of Value of the Turkish Currency was published in the Official Gazette on 12 February 2016, entering into effect on the same date.

Please see this link for the full text of the Communiqué (only available in Turkish).

Information first published in the MA | Gazette, a fortnightly legal update newsletter produced by Moroğlu Arseven.

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