Turkey:
Turkey Increases Interest Rate Caps For Credit Card Transactions
11 October 2018
Moroglu Arseven
To print this article, all you need is to be registered or login on Mondaq.com.
Turkey has increased maximum interest rates for credit card
transactions, allowing banks to charge higher interest rates. From
1 October 2018, the maximum contractual interest rate for credit
card transactions in Turkish Lira increases from 2.02% to 2.25%, as
well as for foreign currency credit card transactions from 1.62% to
1.80%. Similarly, the maximum default interest rate for Turkish
Lira credit card transactions increases from 2.52% to 2.75%, as
well as for foreign currency transactions from 2.12% to 2.30%.
The Amendment to the Communiqué Regarding Maximum
Interest Rates Applied to Credit Card Transactions was published in
Official Gazette number 30541 on 20 September 2018. Please see this
link for the full text (only available
in Turkish).
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
POPULAR ARTICLES ON: Finance and Banking from Turkey
Asset Recovery Comparative Guide
Bird & Bird
Asset Recovery Comparative Guide for the jurisdiction of UK, check out our comparative guides section to compare across multiple countries
FCA's Consultation Paper
Cadwalader, Wickersham & Taft LLP
Since 3 January 2018, firms that provide portfolio management or investment advice on an independent basis must pay for the research they obtain...
AIFMD II: Main Amendments
Kromann Reumert
The directive amending the Alternative Investment Fund Managers Directive ("AIFMD II") has been adopted and will enter into force on 15 April 2024 with a transposition deadline two years later...
To The Point: Financial Regulation | 03/2024
Schoenherr Attorneys at Law
Welcome to our to the point newsletter. Every month, we are looking back at the most relevant developments in the area of financial regulation in the CEE region.